Exclusive 1800sqm Of Prime Bare Land Seeking Jv Partnership

NOTICE: *DIRECT DEVELOPER COMMUNICATION ONLY* (NO AGENTS- NO MANDATES)

Listing title
Joint‑Venture Opportunity --- Bare Land, 1,800 sqm Osborne Phase 1
Title: Federal C of O
Premium: None
Facilitation: 10%

Overview
Rare joint‑venture (JV) opportunity in Osborne Phase 1: 1,800 sqm of bare land offered by the owner for development on a land‑for‑equity basis with no upfront premium. The site holds a Federal Certificate of Occupancy (C of O) and is suited to residential or mixed‑use development with the right partner. The land is valued at ₦2,500,000 per sqm (total land value: ₦4,500,000,000). The owner is open to commercial JV structures --- sharing formula to be agreed. Facilitator fee: 10% of the land value.

Property summary

- Site size: 1,800 sqm
- Location: Osborne Phase 1 (Lagos) --- prime enclave (confirm exact coordinates/estate address during due diligence)
- Title: Federal Certificate of Occupancy (C of O) --- to be verified by buyer's solicitor
- Land value: ₦2,500,000 per sqm (indicative total value: ₦4,500,000,000)
- Premium: Nil (owner is not requesting an upfront premium)
- Sharing: To be determined (owner open to negotiation)
- Facilitator fee: 10% of land value (payable as agreed) --- equivalent to 10% of the agreed land valuation
- Opportunity type: JV / land‑for‑equity / development partnership

Why this JV is attractive

- Strong location: Osborne Phase 1 is a sought‑after enclave with high demand for quality residential and mixed‑use projects (confirm local market data).
- Clean title: Federal C of O provides a robust starting point for legal and transactional documentation (subject to verification).
- No upfront premium: Low initial cash outlay for developers seeking a land‑for‑equity arrangement.
- Flexible scheme: Owner is open to proposals --- ideal for developers wishing to propose an optimal unit mix, product and commercial structure.

Development proposition
The owner invites experienced developers and institutional partners to propose viable development concepts. Potential uses include low‑to‑mid rise residential apartments, luxury townhomes, or mixed‑use residential/commercial development --- subject to planning approvals. The sharing formula and detailed commercial terms will be negotiated based on the proposed scheme, financials and development responsibilities.

Suggested JV structures (examples)

- Land‑for‑equity: Owner contributes land (valued at ₦2.5m/sqm) in exchange for a negotiated equity share of completed units or net project profits.
- Build‑and‑share: Developer finances and constructs; net proceeds are split per agreed revenue share after cost recovery.
- Design‑Build‑Operate with transfer: Developer builds and operates for a defined period with profit/rent share arrangements and defined handover or sale terms.
- Hybrid structures: Combination of upfront facilitator fees, staged payments and equity share to balance risk and liquidity.

Facilitator fee

- Stated facilitator fee: 10% of the land value.
- Based on current valuation (₦2.5m/sqm x 1,800 sqm = ₦4.5bn), the facilitator fee at 10% would be ₦450,000,000 --- exact payment mechanics to be agreed between facilitator, owner and developer.
- Confirm fee timing, escrow arrangements and receipt documentation in heads of terms.

Required documents (owner's pre‑qualification checklist)
Prospective developers/partners must supply the following to progress discussions:

1. Letter of Interest (LOI) confirming intent and basic commercial proposal
2. Facilitator fee letter (acknowledging acceptance of facilitator fee arrangement and payment terms)
3. Company profile, corporate documentation and evidence of technical/financial capacity
4. Previous project portfolio and references demonstrating relevant development experience

Due diligence & documentation checklist (recommended)

- Certified copy of Federal C of O and any related title documents; search for encumbrances or caveats.
- Site survey/site plan showing precise boundaries and land area (1,800 sqm).
- Land use, zoning and permissible development parameters from Lagos State planning authorities.
- Confirmation of utilities and infrastructure (power, water, drainage, road access).
- Environmental considerations and geotechnical/soil investigation (recommended prior to detailed design).
- Estate covenants or restrictions (if within a managed estate); confirm road frontage and access rights.
- Tax, rates, statutory levies and any outstanding liabilities on the land.

Commercial terms & negotiation points to finalise

- Detailed sharing/equity split or profit allocation between owner and developer
- Facilitator fee schedule, payment method and escrow/security arrangements
- Development programme, construction milestones and performance bonds/guarantees
- Cost recovery mechanism and developer fee structure (if applicable)
- Sales/leasing strategy, management arrangements and handover conditions
- Dispute resolution, exit provisions and rights of first refusal for future phases

Next steps --- how to proceed

1. Submit LOI together with company profile and project portfolio.
2. Provide signed IMFPA for the 10% fee.
3. Request full property dossier and certified title documents from the owner/facilitator.
4. Arrange site inspection and meeting with the landowner to discuss concept and commercial expectations.
5. Carry out technical, legal and financial due diligence and prepare a detailed JV proposal.
6. Negotiate and sign heads of terms followed by formal JV agreement and escrow/payment arrangements.

Ref:Prince Idan