2100sqm Land For Residential Development

Property Ref : 3627307

Land joint venture

Egbeda, Alimosho, Lagos

₦700,000,000

Features

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JointVenture Opportunity ---
Residential Terrace Duplex Development,
Off Alimosho Road, Egbeda

Overview
An attractive jointventure opportunity to develop a compact, highyield residential scheme on a secure urban parcel located off Alimosho Road, Egbeda. The 2,100 sqm site is offered with registered title and a clear development brief for ten highquality terrace duplex units.
The sponsor seeks a development partner to deliver the scheme under a 60/40 sharing arrangement, with headline commercials set out below.

Location & land particulars

- Location: Off Alimosho Road, Egbeda --- a densely populated and rapidly evolving residential corridor with strong local demand for modern family homes.
- Site area: 2,100 square metres (2,100 sqm) --- efficient footprint suitable for a lowrise residential development.
- Title: Registered Deed of Conveyance & Land Allocation (LA) --- documentation available for verification by qualified parties.

Proposed scheme

- Development type: Lowrise residential cluster comprising 10 terrace duplexes.
- Product positioning: Contemporary, marketable family homes designed for owneroccupiers and midmarket investors seeking rental income in a highdemand suburb.
- Typical unit features (indicative): 3--4 bedroom duplex layouts, secure parking, private outdoor space, and provision for modern finishes and utilities. Final unit specification and GFA to be agreed during detailed design.

JointVenture headline terms

- Profit / equity sharing: 60/40 (as proposed). The allocation is presented as the headline split between JV partners and is subject to negotiation and formal agreement in the JV documentation.
- Land value: 700,000,000 (Seven Hundred Million Naira) --- vendor's valuation of the land contribution.
- Premium: 25,000,000 (TwentyFive Million Naira) --- payable in accordance with the agreed transaction mechanics.
- Facilitation fee: 10% --- payable as agreed between the parties (to be clarified in heads of terms; typically applied to the facilitation/premium element or as mutually agreed).

Commercial rationale & market opportunity

- Strategic residential demand: Egbeda and the Alimosho corridor deliver consistent demand from owneroccupiers and rental tenants, driven by proximity to Lagos mainland activity centres and improved road connectivity.
- Efficient, highyield product: Terrace duplexes offer an attractive balance of deliverability, sales velocity and rental yield for midmarket purchasers and investors.
- Scale & feasibility: The 2,100 sqm parcel supports a compact, costeffective delivery programme with potential for fast turnaround and attractive margin capture.

Suggested JV structures (examples)
Developerled buildforequity JV

- Land owner contributes the site as equity; developer funds and manages design, approvals and construction.
- Profit distribution 60/40 (as headline);

Indicative timeline & delivery milestones (subject to JV agreement)

- Exchange of heads of terms and execution of NDA: 1--2 weeks.
- Provision of title packs and technical data: upon NDA and qualification.
- Planning and approvals: 3--6 months (depending on scope and authority).
- Construction: indicative 12--18 months.
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