Premium joint-venture opportunity --- 3,000 sqm waterfront parcel, gracefield estate (lagos lagoon shoreline,
chevron, lekki)
asking price: n550k- per sqm
total: n1.650b
facilitation: 10%
owner seeks a unique, bold & beautiful residential or mixed use development
photos: illustration purposes only. (land owners view)
completely open to developer's final proposal
overview ---
- rare 3,000 sqm waterfront plot directly on the lagos lagoon within gracefield estate, chevron (lekki) --- highly sought-after, secure estate with limited new waterfront availability.
- ideal for high-end residential or mixed‑use development (signature apartments, terraces, duplexes, penthouses, limited retail/ f&b/amenity podium).
- perfect jv opportunity for an owner-investor seeking active developer partnership: land contribution + profit share or hybrid equity structure.
- strong value drivers: waterfront premium pricing, capital appreciation in lekki corridor, strong demand from hnwis, executives, expatriates and diligence highlights)
- title & approvals: confirm land title (c of o/lease), existing covenants and estate regulations. lagos state planning consents required for height, setbacks and land use changes..
three commercially viable concept schemes (conceptual --- to be refined with architect & quantity surveyor)
concept a --- boutique waterfront signature terraces & duplexes (low-rise, ultra-luxury)
- product: 8--12 luxury townhouses/duplexes and 2--4 standalone lagoon villas. each unit with private garden, roof terrace and direct lagoon access where feasible.
- massing assumption: 3-storey walk-ups, site coverage ~35--45%, gfa ~3,200--3,800 sqm.
- typical unit sizes: 250--400 sqm (3--5 beds), with a limited number of 4--6 bed waterfront villas (400--600 sqm).
- unit count example: 10 units x 300--350 sqm average = ~3,000--3,500 sqm saleable area.
- amenities: private jetty/mini-marina, private pool per villa/communal lagoonfront infinity pool, clubhouse, concierge, rooftop terraces, in-unit staff quarters optional.
- target buyers: high-net-worth owner-occupiers, family offices, embassies, executives seeking privacy and direct waterfront access.
- commercial rationale: scarcity premium for standalone waterfront houses/terraces; strong capital appreciation and high per‑sqm pricing.
concept b --- mid-rise signature apartment development (best balance of density, returns)
- product: 4--6 storey luxury apartment blocks (2 blocks) with high-spec finishes and a landscaped lagoonfront promenade.
- massing assumption: site coverage ~45--55%, 4--6 floors, gfa ~6,000--7,500 sqm gross; estimated net saleable area ~4,500--5,500 sqm (after cores, services).
- unit mix example (approx. 40--50 units):
- 1-bedroom: 12--15 units @ 65--80 sqm
- 2-bedroom: 18--22 units @ 110--140 sqm
- 3-bedroom: 8--12 units @ 170--220 sqm
- 2--4 duplex penthouses/sky villas (top floor/roof) 250--400 sqm
- parking: basement + surface (1.5--2 spaces/unit).
- amenities: lagoonfront pool & deck, gym, spa, residents' lounge, kids' play area, 24/7 security, concierge, managed short-let/serviced suite option.
- target buyers/renters: premium long-term residents, corporate housing, high-income renters; strong saleability to both local and expatriate markets.
- commercial rationale: optimal density to maximize gdv while preserving premium waterfront product and high margins.
concept c --- high-end mixed-use with podium + tower & sky penthouses (premium gdv maximization)
- product: 8--12 storey tower(s) over 2‑level podium with boutique retail/ f&b, lifestyle amenities, and signature sky-penthouses/duplexes.
- massing assumption: podium + tower yields gfa ~8,500--10,000+ sqm (subject to planning consents); net saleable area ~6,500--8,000 sqm.
- unit mix example (approx. 60--80 units):
- 1-bedroom: 20--25 units
- 2-bedroom: 25--30 units
- 3-bedroom: 10--15 units
- 6--8 penthouses/duplex sky villas 250--500 sqm each
- mixed-use component: ground-floor boutique retail/cafés ideal for lagoonfront dining; managed co-working/amenity suites for residents.
- amenities: rooftop pool, resident's private marina or jetty access, full-service gym & spa, valet, 24/7 concierge, secure basement parking (2 levels).
- target buyers: premium investors seeking trophy assets, buyers desiring iconic signature building with penthouse inventory catering to top-tier market segments.
- commercial rationale: maximizes saleable area and gdv; suitable where planning permits higher far/height.
suggested jv structures & commercial terms
- land-for-equity: owner contributes land (valued) and takes equity in the spv; developer contributes design, planning, construction and marketing expertise and capital. profit share examples: 60:40 (developer:owner) or 50:50 depending on land valuation and developer risk profile.
- build-and-sell (developer finances construction): developer retains sales and pays agreed share/land value to owner on completion/sale milestones.
- build-to-hold (rental/serviced apartments): consider longer-term institutional jv with rental yield target and professional property management.
- milestone-based payments: phased profit distributions on practical completion, sales milestones and final handover.
- governance: spv board with both parties, defined decision rights for design, sales pricing, contractor selection, and exit options (buy-out clause...
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