1,284 Sqm Freedom Way, Lekki Phase 1, Lagos.

Joint Venture Opportunity -- Prime Land on Freedom Way, Lekki Phase 1, Lagos
1,284 SQM Along Freedom Way 50:50 Sharing Formula 24 Flats Proposed Facilitator's Fee: 10%

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Property & JV Overview

- Location: Freedom Way, Lekki Phase 1, Lagos.
- Land Size: 1,284 SQM.
- Title: To be verified (C of O / Governor's Consent expected).
- Proposed Development: 24 Flats (mix of 2 & 3 bedrooms typical for this corridor).
- Joint Venture Sharing Formula: 50:50 (landowner : developer).
- Facilitator's Fee: 10% of land value (payable upon JV agreement).
- Status: Vacant land, ready for partnership and immediate development.

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Key Highlights

- Prime Freedom Way Address: Located on one of Lekki Phase 1's most important arteries, close to Admiralty Way, Orange Island, and major commercial hubs -- ensures high demand and premium pricing.
- Clear 50:50 JV Structure: Equal profit sharing simplifies negotiations and aligns interests between landowner and developer.
- Defined Unit Count (24 Flats): Provides a clear development brief for feasibility studies, architectural design, and financial modeling.
- Optimal Density for the Site: 24 flats on 1,284 SQM (≈18.7 units per 1,000 SQM) is realistic for a mid‑rise apartment block with parking and amenities, subject to planning approval.
- Highly Desirable Location: Freedom Way is well‑known, well‑lit, and accessible, attracting high‑income tenants and buyers.

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️ Development Potential

- A modern apartment building comprising 24 flats (e.g., 12 x 2‑bedroom + 12 x 3‑bedroom, or a mix including 1‑bedroom units).
- Typical specifications: Ground floor parking, 4--5 residential floors, rooftop terrace, backup power, water treatment, and modern finishes.
- Target Market: Professionals, expatriates, and families seeking quality rental or ownership options in Lekki Phase 1.

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Location Benefits

- Freedom Way, Lekki Phase 1: A prime residential‑commercial corridor with excellent road network, 24/7 security, and proximity to Banana Island, Ikoyi, and Victoria Island.
- Nearby Amenities: Close to banks, supermarkets (ShopRite, Justrite), hotels (Eko, Four Points), schools, and restaurants.
- High Occupancy Rates: Developments in this area consistently achieve strong rental yields and capital appreciation.

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JV Financial Structure

- Landowner Contribution: The land (valued at market rate -- to be agreed).
- Developer Contribution: 100% of construction financing, project management, and sales/letting.
- Profit Sharing: 50% to Landowner / 50% to Developer.
- Facilitator's Fee: 10% of the agreed land value, typically paid from the landowner's share upon successful closure of the JV agreement.

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Next Steps for Interested Developers

Interested and qualified development partners should:

1. Submit a formal Expression of Interest including:
- Company profile and track record (especially apartment projects in Lekki/VI/Ikoyi).
- Proof of financial capacity (bank statements, facility letters).
- Preliminary concept note on how you would execute a 24‑flat scheme on 1,284 SQM.
2. Sign a Non‑Disclosure Agreement (NDA) to access full property details and title documents.
3. Conduct due diligence: Title verification at the Lagos State Lands Bureau, site inspection, feasibility study.
4. Negotiate and sign the JV Agreement, including the facilitator's fee structure.

Ideal Partner Profile:

- Mid‑sized to large real estate developer with a proven record in multi‑storey residential projects.
- Strong balance sheet and ability to fund construction without relying on off‑plan sales.
- Experience in Lekki Phase 1 or similar high‑value corridors.

A clear 50:50 JV on Freedom Way -- a straightforward path to a profitable apartment development. Serious developers only.