Residential land joint venture
Lekki Foreshore Estate, Off Freedom Way, Lekki Phase 1, Lekki Phase 1, Lekki, Lagos
Joint venture opportunity -- lekki foreshore off freedom way
2,000 sqm deed of assignment 50/50 sharing ratio
land value: ₦1.7 billion (₦850,000 per sqm)
proposal: blocks of luxury flats
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property overview
- location: lekki foreshore estate, off freedom way, lekki phase 1, lagos -- a prestigious waterfront-adjacent residential enclave offering serenity, security, and proximity to lekki's best amenities.
- land size: 2,000 sqm.
- title: deed of assignment (developer to facilitate perfection to governor's consent).
- land value: ₦1,700,000,000.
- price per sqm: ₦850,000.
- jv structure: 50/50 profit sharing between landowner and developer.
- proposal: blocks of luxury flats -- designed for maximum roi in this prime location.
- status: bare land, ready for immediate development.
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key highlights
- prime lekki foreshore location: one of lekki phase 1's most exclusive neighborhoods, offering quiet, secure living with easy access to freedom way, chevron, victoria island, and the lekki-epe expressway.
- substantial scale: 2,000 sqm provides excellent flexibility for a landmark residential development -- rare in this established locale.
- developer-friendly terms: 50/50 sharing with land valued at ₦850,000/sqm offers attractive economics for a well-executed luxury flat project.
- clear proposal: landowner is open to blocks of luxury flats -- a proven product type in this high-demand rental and sales market.
- strong title pathway: deed of assignment provides a clear path to governor's consent -- a standard process that enhances bankability.
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️ development potential -- blocks of luxury flats
2,000 sqm in lekki foreshore is ideal for:
- luxury apartment block: 15--20 high-end flats across 4--5 floors.
- unit mix potential:
- 2-bedroom flats
- 3-bedroom flats (duplex-style or single-level)
- select penthouses on top floor
- amenities: secure parking, gym, concierge, landscaped courtyard.
- target market: young professionals, expatriates, corporate tenants, and downsizing executives seeking luxury rental accommodation in a prime lekki location.
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jv structure & market context
component details
land contribution 2,000 sqm (valued at ₦1.7b)
developer role 100% construction funding
sharing ratio 50/50 of completed units/sales
title status deed of assignment -- developer to perfect to gov's consent
per sqm valuation ₦850,000
proposed development blocks of luxury flats
- per sqm benchmark: lekki foreshore land with good title typically ranges from ₦800,000--₦1.1m/sqm. at ₦850,000/sqm valuation, this offers a fair entry point for a jv partnership.
- jv appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution.
- rental & sales demand: lekki foreshore commands premium rents and sales prices due to its exclusivity and proximity to key employment hubs.
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next steps for interested developers
1. letter of intent (loi) -- express interest and capacity.
2. company profile -- demonstrate track record in luxury flat developments.
3. proof of funds -- evidence of construction financing capability.
4. site inspection -- physical viewing of the property.
5. development proposal -- detailed concept, unit mix, floor plans, financial projections.
6. meeting with owner -- direct negotiation and jv finalization.
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ideal for: established developers seeking a well-located jv opportunity in lekki phase 1's most desirable residential enclave, with a clear focus on luxury flat development.
a fresh 50/50 jv mandate on 2,000 sqm in lekki foreshore -- ready for serious engagement from capable develope...
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₦1,700,000,000
Ac Valour International
08036503218