Banana Island, Ikoyi, Lagos
₦20,000,000,000
| Property Ref: 3172140 | Added On: 28 Oct 2025 | Last Updated: 06 Nov 2025 |
| Market Status: Available | Type: Land | Total Area: 5,000 sqm |
JOINT VENTURE OPPORTUNITY- LAND VALUE NOT NEGOTIABLE
Exclusive JV Opportunity ---
5,000 sqm Banana Island Land
Luxury 15--20Storey Residential Scheme
(3Bed w/ BQ, 4Bed Maisonettes & Penthouses) ---
Land value 4,000,000/sqm
Opportunity summary
A rare Banana Island jointventure invitation for an institutional developer/operator: 5,000 sqm of prime island land proposed for a landmark luxury residential tower(s) of circa 15--20 storeys. The sponsor is seeking an experienced developer partner to deliver a highend scheme made up principally of 3bedroom luxury apartments with boys' quarters, 4bed maisonettes and premium penthouses. Land value: 4,000,000 per sqm (implied land value 20,000,000,000). LOI is considered sufficient to open discussions.
Why this is compelling
- Banana Island address --- the island's strongest luxury residential brand, exceptional scarcity value, strong resale and rental demand from UHNW and expatriate markets.
- Scale --- 5,000 sqm contiguous plot provides the flexibility to deliver an architecturally significant building with podium parking, resident amenity and landscaped grounds.
- Product fit --- 3bed luxury apartments with BQ, 4bed maisonettes and penthouses are proven highdemand products on Banana Island that command premium pricing and strong yield stability.
- Attractive land equity --- owner contribution of land materially reduces developer upfront land cost and enhances project IRR for a properly structured JV.
Owner's highlevel development brief
- Height & density: 15--20 storeys subject to planning approvals and serviceability studies.
- Product mix (developer to confirm in feasibility): majority 3bed luxury apartments (each with dedicated BQ), selective 4bed maisonettes and signature penthouse(s) with private terraces/pools.
- Amenities: concierge, residents' gym, spa, private pool, children's play, landscaped gardens, private drive/valet, secure podium/basement parking, backup power and dedicated waste management.
- Quality: branded finishes, smart building systems and professional estate/property management to target toptier clients.
Indicative land valuation & commercial context
- Stated land value: 4,000,000 per sqm 5,000 sqm 4,000,000 = 20,000,000,000 (land equity reference).
- Developers should model GDV, construction cost and target IRR; the owner expects a landforequity or profitshare structure (details negotiable for credible proposals).
Suggested JV/commercial structures (examples)
1. LandforEquity
- Owner contributes land as equity. Developer funds design, approvals, construction and sales/marketing.
- Equity split to be negotiated (typical starting point: Developer 60% : Owner 40% --- adjustable based on financing, guarantees, speed and execution risk).
2. ProfitShare After Cost Recovery
- Developer recovers construction costs + agreed fee; remaining net profit is split per agreed ratio.
3. Hybrid (Fixed Premium + Equity)
- Owner receives an agreed upfront premium or staged payments plus equity/units in the completed development.
4. Concession / BOTstyle (if preferred)
- Developer operates asset for agreed period to recover investment and returns, then transfers agreed interest to owner.
Developer & partner profile required
- Proven track record delivering luxury/highrise residential projects (preferably in Lagos/Nigeria or comparable West African markets).
- Strong balancesheet or secured construction finance lines; audited accounts and bank/financier references.
- Inhouse or contracted design, QS, PM, main contractor and property management capability.
- Demonstrated approvals experience with Lagos/Nigerian planning and utility authorities, and ability to mobilise quickly.
- Willingness to provide performance bonds, parent company guarantees or completion sureties as part of the deal.
Documentation & prequalification (LOI pack)
To be considered, submit a concise LOI and the following:
- Letter of Interest (LOI) confirming JV intent and proposed highlevel commercial approach.
- Company profile and registration documents (RC, TIN).
- Evidence of financial capacity (bank reference, POF or financier commitment).
- Portfolio of comparable projects (minimum 2--3, with photos/references).
- Highlevel concept note: indicative unit mix, expected programme (start completion), preliminary GDV expectation and proposed development timeline.
- Confirmation of ability to sign NDA and proceed to site inspection and detailed due diligence.
Due diligence & data room
- The owner will provide site pack (title / allocation documents, survey/topographical plan, any existing reports) after LOI, POF and signed NDA.
- Developer to commission feasibility: planning analysis, yield study, QS BOQ, geotechnical and services capacity checks.
- Typical timeframe: LOI NDA & site pack (1--2 weeks) feasibility & proposal submission (4--6 weeks) HoT / MoU negotiation.
Key negotiation points for Heads of Terms
- Exact equity/profit split and allocation mechanism (units vs cash).
- Cost recovery waterfall and developer fee.
- Construction programme, milestones and retention/security (performance bonds).
- Sales & marketing responsibilities and allocation of completed units/unsold stock.
- Approvals responsibility, statutory charges and tax liabilities.
- Warranties, defects liability and dispute resolution.
Next steps & how to apply
- Submit LOI and prequalification pack to the owner's mandate. Include contact details and a succinct highlevel term sheet if preferred.
- Upon initial qualification, sign NDA, present proof of funds / bank reference, receive the site & title pack and attend a site inspection.
- Shortlisted developers will be invited to present concept proposals and commercial offers for immediate consideration.
Confidentiality & process note
- Banana Island opportunities are highly sensitive and will be handled confidentially. Full documentation, site access and owner meetings will be granted only to shortlisted, prequalified developers with verified financial capability.
Why act now
- This is a true trophy JV opportunity in one of Lagos's most exclusive addresses --- early partners can secure favourable equity mechanics, influence product specification and capture premium market pricing as demand for island luxury remains robust.
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
Note: Referrals & Third Party Agents: 2.5% Comm
Ref: Remi
