Lekki Palm City Estate, Ajah, Lagos
₦200,000,000
| Property Ref: 3088787 | Added On: 11 Sep 2025 | Last Updated: 16 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 776 sqm |
NOTICE: *DIRECT DEVELOPER COMMUNICATION ONLY* (NO AGENTS- NO MANDATES)
Listing Title:
FastTrack JV Opportunity ---
Size: 776.25 sqm SandFilled Plot
Location: (Captain's Court, Lekki Palmcity Estate, Ajah) ---
Title: C of O & Governor's Consent
Land Value: 200M ---
Sharing Formula: 45/55 Partnership
*VIDEO AVAILABLE*
Overview:
Urgent jointventure (JV) opportunity for a ready developer: a prime 776.25 sqm sandfilled plot in Captain's Court, Lekki Palmcity Estate (Ajah). Owner is offering an immediate JV --- land is titled (C of O) with Governor's Consent and comes with approved drawings for 3 detached duplexes. Plot is developmentready and owner seeks a fast, experienced developer (no timewasters) to mobilise quickly. Sharing proposed at 45:55.
Facilitator's fee: 10%.
Key Property Facts
- Location: Captain's Court, Lekki Palmcity Estate, Ajah (Captain's Court)
- Plot size: 776.25 sqm (Length 35.5 m Breadth 22.5 m)
- Condition: Sandfilled (ready for piling/works)
- Title: Certificate of Occupancy (C of O) + Governor's Consent
- Existing package: Owner has drawings for 3 fully detached duplexes (can be used or developer may propose alternative schemes except terrace development --- terraces excluded)
- Land valuation (owner): 200,000,000
- Asking JV share: 45:55 (owner:developer) --- reasonable for a fast, fully funded developer
- Facilitator fee: 10% (payable on agreed terms
Why This Is Attractive
- Developmentready site (sandfilled) reduces early mobilisation/timetoground works.
- Located inside Lekki Palmcity Estate --- rising residential demand and good estate management.
- Owner already has architectural drawings (3 detached duplexes) --- saves design time and accelerates approvals/build start.
- Clear title documentation (C of O + Governor's Consent) --- supports a smoother transaction and handover.
- Compact plot ideal for highvalue detached dwellings or a bespoke luxury development that commands premium pricing in the area.
Proposed JV Structure (Indicative)
- Equity split: Owner 45% : Developer 55% (developer funds construction and manages project)
- Owner contribution: Land (valued at 200M), drawings, C of O & Governor's Consent, assistance with document handover
- Developer contribution: Construction financing, project management, securing building permits/approvals, sales/marketing and handover of completed units
- Facilitator fee: 10% payable as agreed (typically on transaction closure or as staged per JV agreement)
- Profit / unit allocation: To reflect the 45:55 split after costs; detailed financial model and cost schedule to be agreed and appended to JV agreement
Developer Responsibilities (typical / expected)
- Immediate proof of funds (POF) / bank reference and capability evidence
- Fasttrack all necessary approvals (building permit, estate approvals, utilities)
- Finance and execute construction to the approved drawings (or developer's own approved scheme)
- Manage contractors, QA/QC, site supervision and delivery to practical completion
- Handle sales, marketing or leasing of completed units (unless JV agrees otherwise)
- Provide regular reporting, milestone payments and transparent accounting during the build
Owner Responsibilities
- Transfer of land equity into JV SPV or provide legal mechanism needed for JV
- Deliver original C of O, Governor's Consent, drawings and survey documents to legal counsel for verification
- Assist with estate introductions and needed consents where required
Timing & Expectations
- Qualification & DD: 7--14 days (title/documents review, site visit, technical checks)
- JV agreement & heads of terms: 7--14 days (subject to POF and parties)
- Approvals & mobilisation: target immediate mobilisation on successful JV (developer to fasttrack approvals)
- Construction: typical estimate 10--18 months depending on scope and contractor capacity (developer to supply schedule)
Due Diligence Pack (available / recommended)
- Original C of O & Governor's Consent (available for verification)
- Survey plan and site dimensions (776.25 sqm)
- Owner's architectural drawings for 3 detached duplexes
- Evidence of sand fill and basic site readiness (photos/reports)
- Estate rules & consent requirements (if applicable)
- On request: structural/soil tests or engineers' reports (if available, else buyer to commission)
PreQualification & Desired Partner Profile
We want a credible, quickmoving developer who can:
- Produce immediate proof of funds or bank reference
- Commit to fast approvals and site mobilisation
- Demonstrate prior delivery of similar detached residential projects in Lekki/Ajah
- Agree to the 45:55 sharing (owner:developer) or propose a better commercial structure with valid rationale
- Respect facilitator fee terms (10%) and conclude negotiations promptly
Next Steps / How to Apply
- Serious developers only. To proceed please send:
- Short company profile. Expression of Interest letter & track record (2 relevant projects)
- Proof of funds / bank comfort letter
- Contact person and availability for immediate site visit
- Upon receipt of the above, we will provide the full due diligence pack and arrange an accompanied site inspection and meeting with the owner.
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
*PLEASE FEEL FREE TO BROWSE OUR OTHER FEATURED PROPERTIES*
Ref: Victoria
