1,548 Sqm Joint Venture -- Seagate Estate, Ikate Elegushi, Lekki

Joint Venture Opportunity -- Seagate Estate, Ikate Elegushi, Lekki
1,548 SQM Fully Fenced, Gated & Sand-Filled ₦800k per SQM Total Land Value: ₦1.2384 Billion

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Property Overview

- Location: Seagate Estate, Spar Road, Ikate Elegushi, Lekki, Lagos
- Land Size: 1,548 SQM
- Land Value per SQM: ₦800,000
- Total Land Value: ₦1.2384 Billion
- Condition: Fully fenced, gated, and sand-filled -- construction ready
- Proposed Development: 2 blocks of residential flats
- Title: To be verified (likely Governor's Consent / Estate Title)
- Partnership Model: Joint Venture (Landowner + Developer)

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Joint Venture Structure

- Landowner's Contribution: Land valued at ₦1.2384 Billion
- Developer's Contribution: Full construction financing, project management, and delivery
- Ownership & Profit Share: Negotiable (typically based on land value vs. total project cost)
- Roles: Landowner provides land; Developer funds and builds; both share profits proportionally

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️ Development Proposal

- Project: 2 modern residential apartment blocks
- Unit Mix: Can be designed as 2- and 3-bedroom flats
- Estimated Units: 12--16 units total (6--8 per block)
- Target Market: Mid-to-high-income tenants and buyers in Lekki
- Features: Gated estate, 24/7 security, parking, quality finishes

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Key Highlights

- Prime Ikate Elegushi Location -- Rapidly developing, high-demand residential corridor
- Land Ready for Immediate Development -- Sand-filled, fenced, and gated reduces costs and timeline
- Clear Development Vision -- 2 blocks of flats optimizes land use and ROI
- Strong Rental & Sales Potential -- Steady demand for quality flats in secure estates
- Joint Venture Efficiency -- Shared risk and resources between landowner and developer

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Location Benefits

- Seagate Estate Security -- Controlled access, perimeter fencing, and estate management
- Proximity to Key Areas -- Close to Elegushi Beach, Lekki Phase 1, Ajah, and Victoria Island
- Good Road Network -- Accessible via Spar Road and Lekki-Epe Expressway
- Vibrant Community -- Growing residential and commercial activity in Ikate Elegushi
- Lifestyle Appeal -- Near beaches, restaurants, schools, and shopping outlets

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Investment Potential

- Land Value: ₦1.2384 Billion
- Development Cost: To be estimated based on construction specs
- Expected ROI: Strong, given rental yields and sales demand in the area
- Market Advantage: Ready-to-build land in a secured estate accelerates time-to-market
- Exit Options: Sell units, rent out, or refinance after completion

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Ideal Development Partner

- Registered real estate developer with completed residential projects
- Strong financial capacity to fund construction
- Experience in joint venture partnerships
- Proven track record in delivering flats/apartments

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Next Steps for Interested Developers

Submit a formal proposal including:

- Company profile and portfolio
- Financial capability statement
- Proposed JV structure and profit-sharing model
- Preliminary project timeline and cost estimate
- Design concept for the 2 blocks of flats

Contact to arrange:

- Site inspection
- Title verification
- Meeting with landowner
- Detailed term sheet discussion

A ready-to-build JV opportunity in a premium Lekki estate --- bringing land, location, and vision together for mutual benefit.