Residential land joint venture
Awolowo Way, Ikeja, Lagos
Prime jv opportunity --- awolowo way / allen avenue, ikeja, lagos
location: awolowo way (allen avenue), ikeja, lagos state
asset: raw land for residential jv
land size: 2,900 sqm
title: certificate of occupancy (c of o)
land value: ₦2,300,000,000
asking premium: tbd (see pricing scenarios)
broker fee: 10% binded by imfpa
executive summary
a rare joint‑venture opportunity on awolowo way / allen avenue --- one of ikeja's most sought‑after corridors for residential development. the 2,900 sqm c of o land parcel is being offered for a residential jv. the owner is open to flexible structuring: partial outright sale of 900 sqm or a straight jv on the remaining land, or a full‑parcel jv with a defined premium. this is ideal for developers, private equity/platform investors, and institutional partners seeking prime land in ikeja.
key investment highlights
- premium location on awolowo way / allen avenue --- high demand for residential and mixed‑use development.
- clear title: certificate of occupancy (c of o).
- flexible deal structuring: sale of a portion or jv on remaining/full parcel.
- attractive economics: land value indexed at ₦2.3b; negotiable premium for jv.
- opportunity to deliver high‑value residential units or mixed residential product targeting professionals, executives and high‑net‑worth occupiers.
pricing & deal scenarios
1. partial sale + jv (owner's preferred flexibility)
- owner willing to sell 900 sqm outright for ₦900,000,000.
- if 900 sqm is sold, remaining 2,000 sqm will be made available for jv without a separate premium.
- this creates immediate liquidity for the owner and a jv platform on 2,000 sqm.
2. full‑parcel jv (no sale)
- if the 2,900 sqm is retained for jv, the owner requires a premium of ₦100,000,000 (net) to structure the jv on the full parcel.
- land value remains ₦2.3b; premium to be paid per agreed jv mechanics.
broker fee
- standard broker fee: 10% of land value.
- example calculation: 10% of ₦2,300,000,000 = ₦230,000,000.
- an official letter agreeing to the 10% broker fee will be required as part of the procedure.
suggested jv models
- equity jv (land for equity): owner contributes land; developer provides design, approvals and construction finance. profits shared per agreed equity split.
- development management jv: developer funds and manages construction; owner retains equity stake and receives developer fee plus profit share.
- sale + joint development: buyer acquires 900 sqm (as proposed) and partners with owner on remaining 2,000 sqm for jv development.
required documents & procedure (to commence discussions)
1. letter of intent (loi) from interested party.
2. company profile of the prospective developer/partner.
3. past project details / portfolio and references.
4. detailed jv proposal (proposed structure, capital plan, timeline, exit strategy).
5. an official letter confirming acceptance of the 10% broker fee.(recommended: execute an nda prior to sharing detailed financials and site documentation.)
next steps / how to proceed
- submit loi and required documents listed above.
- arrange a site inspection and meeting with the owner and kdl properties.
- receive information pack: site plan, c of o copy, topography and preliminary survey (available on request).
- negotiate jv term sheet: equity splits, premium mechanics, development timetable, approvals and exit terms.
- proceed to legal and technical due diligence.
contact
to request the full information pack, arrange a viewing, or submit your loi and company documents, contact:
kdl properties (teamwork)
phone: [insert phone number]
email: [insert email address]
note
- premium for the full 2,900 sqm jv is currently stated as ₦100m (net) if the parcel is not split; owner remains open to negotiation.
- broker fee acceptance (10%) is required in writing as part of the transaction process.
- all figures and terms are subject to confirmation during due diligen...
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₦2,300,000,000
The Build Centre Properties
09028190510