Residential land joint venture
4800SQM of Exceptional Land
JOINT-Venture Development Opportunity Land- Corner Parcel --- Thompson & Glover Road, Old Ikoyi, Lagos Overview An exceptional joint-venture opportunity to develop a landmark luxury residential project on a prestigious corner parcel at the junction of Thompson Road and Glover Road, Old Ikoyi. The site presents a rare opportunity for a reputable, financially capable developer to deliver a high-end residential tower tailored to the luxury Old Ikoyi market. Site particulars - Location: Corner of Thompson Road & Glover Road, Old Ikoyi, Lagos - Land size: Approximately 4,800 sqm - Land value: ₦4,500,000 per sqm (indicative) - Indicative total land value: ₦21,600,000,000 (Twenty-one billion, six hundred million Naira) - Premium: Nil - Title: To be provided for review Development proposal The landowner seeks a development partner to deliver a premium residential high-rise with the following principal concept elements (final concept subject to feasibility and statutory approvals): - A high-rise residential tower of 15 floors and above. - Luxury three-bedroom apartments, each delivered with an accompanying Boys' Quarters (BQ). - Exclusive penthouse units configured with two or three BQs. - High-end architectural design and premium interior and building specifications appropriate for the Old Ikoyi luxury residential segment. - Final unit mix, massing, floor plate, parking, amenity provision and building configuration to be determined following detailed feasibility studies, market testing and planning approval processes. Development and planning considerations - The successful concept should prioritise privacy, security, landscaped communal spaces and premium resident amenities (e.g., concierge, gym, pool, secure parking and service areas). - All proposals must allow for compliance with Lagos State planning regulations and any federal requirements applicable to high-rise residential developments. - A robust financial feasibility, market positioning and phasing plan will be required as part of the JV negotiations. Developer submission requirements Interested and suitably qualified developers are invited to submit the following documentation for initial review: 1. Letter of Intent (LOI) --- formally expressing interest in pursuing the proposed joint venture. 2. Company profile --- demonstrating relevant track record, evidence of completed or ongoing high-end residential projects, financial capability and project delivery capacity. 3. Facilitator's fee confirmation --- a letter acknowledging a 10% facilitator's fee backed by an imfpa applicable to the transaction. Next steps & contact Shortlisted parties will be invited to receive the site information pack, legal title documents (upon request), and to participate in a site visit and subsequent commercial discussions. Detailed development briefs and heads of terms will be issued to qualified respondents following initial review. Important notes - All information provided is indicative and subject to contract, verification and landlord approval. - Prospective developers are expected to undertake their own due diligence (legal, technical, planning and financial) prior to commitment. - Planning permissions, approvals and any statutory fees or levies are to be addressed as part of the development programme and JV negotiation. #atafo
