Residential Land on Ozumba Mbadiwe Road, Victoria Island (VI), Lagos

Joint venture development opportunity -- akin olugbade street, victoria island, lagos 2,491 sqm land value: ₦8 billion approvals & drawings in place for 9-storey luxury apartments potential for mixed-use & up to 15 floors 50:50 sharing facilitator's fee: 5% --- property & jv overview - location: akin olugbade street, victoria island, lagos. - land size: 2,491 sqm. - title: to be verified (c of o / governor's consent expected for vi). - land value: ₦8,000,000,000 (≈ ₦3.21 million per sqm). - current approvals: planning approval and architectural drawings already in place for a 9‑storey block of luxury apartments. - upside potential: site can accommodate mixed‑use development and up to 15 floors (subject to further approvals). - jv sharing formula: 50:50 (landowner : developer). - facilitator's fee: 5% of property value (₦400 million), payable upon jv agreement. --- key highlights - prime victoria island address: akin olugbade street is a well‑regarded residential/commercial street in the heart of vi, close to ahmadu bello way, eko atlantic, and major corporate offices. - approvals & drawings ready: a significant time and cost advantage -- the site already has planning permission and designs for a 9‑storey luxury apartment block. this reduces pre‑development risk and accelerates time to market. - expansion potential: the site can support up to 15 floors and mixed‑use (e.g., ground floor retail, offices, or penthouses), offering flexibility for a higher‑density, higher‑return project. - 50:50 equal partnership: a transparent, balanced jv structure that aligns the interests of both landowner and developer. - reduced facilitator fee: at 5% (compared to the typical 10%), this lowers transaction costs for both parties. --- ️ development vision the existing approvals provide a clear starting point: - current design: 9‑storey luxury apartment building -- likely comprising 2‑3 bedroom flats, penthouses, and high‑end finishes. - potential expansion: with additional approvals, the project could be scaled to: - 15 floors (residential tower). - mixed‑use (e.g., ground floor retail/office + residential above). - increased unit count and higher overall returns. target market: high‑net‑worth individuals, corporate executives, expatriates, and luxury renters/buyers in victoria island. --- location benefits -- akin olugbade street, vi - heart of victoria island: minutes from ahmadu bello way, ozumba mbadiwe, and the entrance to eko atlantic. - prestige address: surrounded by banks, embassies, luxury hotels, and corporate headquarters. - excellent infrastructure: good roads, security, power, and drainage -- a fully developed urban environment. - high demand: luxury apartments in this micro‑location consistently achieve strong occupancy and premium pricing. --- financial structure - land contribution value: ₦8 billion. - developer's role: provide 100% of construction financing, project management, and sales/letting. - profit sharing: 50% landowner / 50% developer -- after recovery of agreed development costs. - facilitator's fee: 5% of land value (₦400 million), typically paid from the landowner's share upon signing the jv agreement. --- next steps for qualified developers interested development partners should submit: 1. letter of intent (loi) -- expressing interest and outlining initial thoughts. 2. company profile -- with verifiable track record of luxury apartment or high‑rise projects in victoria island, ikoyi, or banana island. 3. proof of funds -- bank statements or financing letters demonstrating capacity to fund a project of this scale. 4. source of funds -- for due diligence and compliance. 5. preliminary concept note -- how you would leverage the existing approvals and potentially expand to 15 floors or mixed‑use. due diligence: - upon signing an nda, the facilitator will provide title documents, existing approvals, and architectural drawings for review. - site inspection can be arranged for serious parties. ideal partner profile: - a reputable real estate development firm with experience in luxury high‑rise projects on lagos island. - strong balance sheet and ability to finance construction without relying solely on off‑plan sales. approvals ready. drawings ready. 50:50 partnership. reduced facilitator fee. a streamlined jv opportunity in victoria island. serious developers with island track record only -- proof requir...

Joint venture development opportunity -- off ligali ayorinde street, victoria island, lagos 2,300 sqm fabac close proposed: 10 floors of 3-bed flats & maisonettes land value: ₦7.5 billion --- property & jv overview - location: fabac close, off ligali ayorinde street, victoria island, lagos. - land size: 2,300 sqm. - title: to be verified (c of o / governor's consent expected for vi). - land value: ₦7,500,000,000 (≈ ₦3.26m per sqm). - proposed development: 10 floors comprising 3-bedroom flats and maisonettes with luxurious finishes. - jv structure: landowner contributes land; developer provides 100% construction funding and expertise. sharing ratio to be negotiated. - facilitator's fee: 10% of land value (₦750m), payable upon jv agreement. --- key highlights - prime victoria island address: ligali ayorinde street is a prestigious, low‑density residential/commercial enclave in the heart of vi -- close to eko atlantic, banks, embassies, and five‑star hotels. - high‑rise approval potential: a 10‑floor proposition suggests favourable zoning and significant development density -- ideal for luxury living with skyline views. - luxury unit mix: 3‑bed flats and maisonettes target the high‑end market -- professionals, expatriates, and families seeking premium finishes and space. - selective developer criteria: preference for experienced island‑focused developers who can provide physical evidence of past projects on victoria island, ikoyi, or banana island. --- ️ development vision - a 10‑storey luxury residential tower (or twin block) comprising: - high‑spec 3‑bedroom flats (en‑suite, living/dining, balcony). - maisonettes (duplex units within the building) offering additional privacy and space. - ground floor lobby, parking, gym, pool, and 24/7 security. - backup power, water treatment, and premium finishes throughout. --- location benefits (ligali ayorinde / fabac close) - heart of vi: minutes from ahmadu bello way, ozumba mbadiwe, and the eko atlantic entrance. - secure & serene: a quiet close off a main street -- offers privacy while remaining central. - high demand location: luxury apartments in this micro‑location command top rental and sales values. - nearby amenities: eko hotel, landmark village, banks, restaurants, international schools, and diplomatic missions. --- financial structure - land contribution value: ₦7.5 billion. - developer's role: provide 100% of construction financing, project management, and sales/letting. - profit sharing: to be negotiated based on land value vs. total development cost. - facilitator's fee: 10% of land value (₦750m), typically due from the landowner's share upon jv execution. --- submission requirements for interested developers qualified developers must submit: 1. letter of intent (loi) -- outlining interest and high‑level approach. 2. company profile -- including track record and physical evidence of past luxury projects on victoria island, ikoyi, or banana island (addresses, photos, completion certificates). 3. proof of funds -- bank statements or facility letters showing capacity to finance a development of this scale. 4. source of funds -- documentation to satisfy anti‑money laundering and due diligence requirements. 5. preliminary concept note -- initial thoughts on design, unit mix, timeline, and jv structure. --- ️ critical notes - preference given to developers with verifiable island experience. no exceptions. - land title and ownership will be verified during due diligence after a signed nda. - facilitator is mandated -- agency fee agreement required before full disclosure. ideal partner: a reputable real estate development firm with a portfolio of luxury high‑rise projects in lagos's prime postcodes. this is a high‑value, high‑calibre jv opportunity. serious, qualified developers only -- with proof rea...