Residential land joint venture
Shovel Ready 2000SQM of Prime Land on Offer
Joint Venture Opportunity --- 2,000 sqm Prime Land on Tumble Road, Ikoyi Fed C of O (Ratified to State C of O) Summary Exclusive JV opportunity for an experienced developer: 2,000 sqm on Tumble Road, Ikoyi, with Federal C of O (ratified to State C of O). Owner seeks a developer to deliver 26 units of 2- and 3-bedroom apartments under a fixed 55:45 land-owner/developer split. No land premium. Immediate mobilisation required; Completion within 24 months. Quick Facts - Location: Tumble Road, Ikoyi, Lagos - Land Size: 2,000 sqm - Title: Federal Certificate of Occupancy --- ratification to State C of O completed - Valuation: ₦4,500,000 per sqm (Implied total land value: ₦9,000,000,000) - Premium: Nil - Proposed Scheme: 26 residential units (mix of 2- and 3-bedroom flats) --- detailed 3D design completed - Equity Split: 55% --- Land Owner (non-negotiable) / 45% --- Developer (non-negotiable) - Facilitators' Fee: 10% of total land value (indicative: ₦900,000,000) payable net as agreed - Approvals: Owner has obtained and paid for required approvals (documents available) - Required Delivery: Project to be completed within 24 months of mobilisation Why this JV is compelling - Prestigious Ikoyi address with sustained demand for high-quality residential developments and strong rental/resale values. - Substantial preparatory work already completed (approvals paid; 3D design available), materially reducing pre-construction lead time and soft costs. - Clear, attractive economics with no land premium and a definitive equity split --- allows the developer to focus capital on construction and execution. - Ideal for developers with a proven track record in premium Lagos neighbourhoods who can mobilise quickly and deliver to schedule. Developer selection criteria (mandatory) - Proven delivery of verifiable projects in Ikoyi, Victoria Island (VI) and/or Banana Island --- provide references and project evidence. - Demonstrable proof of funds or access to construction financing sufficient to commence works immediately upon signing. - Strong project management capability and capacity to complete the development within the 24-month timeframe. - Willingness to accept the stated equity split (55% land owner / 45% developer) and the facilitator fee structure. Owner's contributions (summary) - Land parcel with Fed C of O (ratified to State C of O) and all approved planning consents in place. - 3D design and approval documentation already completed and paid for. - Equity share as specified (55%). Developer's obligations (summary) - Provide construction financing and manage all construction activities to completion within 24 months. - Submit detailed project programme, construction methodology and mobilisation plan for owner approval prior to commencement. - Manage sales/marketing and handover in accordance with JV agreement or agreed terms. - Comply with all regulatory and statutory obligations throughout execution. Documents & due-diligence checklist (available/required) - Original Fed C of O and ratification documents to State C of O (available for verification) - Planning approval documents and stamped architectural/3D design files (available) - Survey plan and site coordinates; site inspection recommended to confirm boundaries - Structural and engineering drawings (to be provided) - Evidence of approvals fees paid and receipts (available) - Developer to provide: Loi, company profile, audited accounts/financials, proof of funds, project references and detailed project proposal (programme, budget, delivery milestones) - Legal searches at the Lands Registry and verification with relevant authorities (recommended) Financial summary (indicative) - Land value (2,000 sqm x ₦4,500,000/sqm): ₦9,000,000,000 - Facilitators' fee (10% of total land value): ₦900,000,000 (payable as agreed and subject to contract) Procedure / Next steps 1. Submit: Loi, company profile, detailed project proposal (including programme and financing plan) and facilitators' fee letter. 2. Preliminary screening and verification of developer credentials and proof of funds. 3. Site inspection and document verification. 4. Negotiate and conclude JV Agreement, including detailed project execution and exit/sales strategy. 5. Mobilisation and commencement immediately upon signing and evidence of funding. Only serious developers with verifiable credentials and immediate capacity to mobilise should apply. Legal / disclaimer All information provided is by the owner/agent. Prospective JV partners must conduct independent due diligence, conduct legal searches, and obtain professional advice before entering into any agreement. Terms are subject to contract. #ed/atafo
