Coker Road, Ilupeju, Lagos
₦850,000,000
| Property Ref: 3135069 | Added On: 07 Oct 2025 | Last Updated: 12 Oct 2025 |
| Market Status: Available | Type: Land | Total Area: 1,090 sqm |
JointVenture Opportunity ---
Coker Road, Ilupeju
1,090 sq.yd (~915 sqm)
Land Value 850,000,000 ---
Developer JV (16--24 x 3Bed Luxury Flats)
OverviewDirect JV instruction: Prime innercity development parcel on Coker Road, Ilupeju offered for a closeable Joint Venture with an experienced developer. The owner proposes delivery of 16--24 luxury 3bedroom apartments (subject to design & approvals). This is a live, 100% closeable JV --- the owner is ready to meet credible developers immediately.
Quick facts
- Location: Coker Road, Ilupeju, Lagos
- Land size: 1,090 sq.yd (approx. 915 sqm)
- Land value: 850,000,000
- Proposed scheme: 16 to 24 units of 3bed luxury flats (final unit count to follow feasibility & planning)
- Premium: 30,000,000 (to be recouped in the sharing formula)
- Facilitator's fee: 50,000,000 (payable per agreed Heads of Terms)
- Agreement fee: 10,000,000 (indicative legal/agreement fee)
- Title: Available on request (to be provided to qualified parties for verification)
- Status: Owner ready to engage and meet serious developers --- JV described as 100% closeable
Why this JV is compelling
- Innercity location: Ilupeju/Coker Road provides strong catchment for midtohigh end residential product serving professionals and executives.
- Optimal scale: Plot size supports a quality midrise apartment block with efficient unit mix and amenity space.
- Speed to market: Owner is motivated and prepared to advance to Heads of Terms quickly with qualified partners.
- Value creation: Developer benefits from land equity contribution and can optimise returns by delivering finished product to market.
Suggested development concept
- Luxury 3bedroom apartment product (16--24 units) with contemporary finishes, secure parking, standby power, water storage and communal amenities (gym/communal lounge / generator house).
- Options: single block or two linked blocks, with groundfloor retail/servicing where planning permits to enhance income.
What the owner expects from a partner
- Proven developer or institutional investor with relevant Lagos apartment delivery track record.
- Demonstrable financing (proof of funds or committed facilities) to complete the project.
- Ability to manage approvals, contractor procurement and sales/letting channels.
- Willingness to adopt transparent JV governance and agreed milestone funding structure.
Commercial mechanics (to be agreed)
- Premium: 30m --- to be recouped from project receipts per agreed waterfall.
- Facilitator fee: 50m (nonnegotiable) --- payable by developer/owner as set out in HoT.
- Agreement fee: 10m (indicative legal/administration fee).
- Sharing formula: open for negotiation --- owner will consider common structures (landforequity, profit share, or hybrid models). Exact split, cost recovery rules and developer fee to be set in Heads of Terms.
Due diligence & documents
- Title & survey: certified title documents, survey and site plan available to qualified parties on request.
- Technical: shortlisted partners to commission site inspection, geotechnical & topographic surveys and independent QS costtocomplete.
- Planning: confirm permitted coverage, setbacks and parking with Lagos State planning authority; developer to propose final massing subject to approvals.
- Financial: developer to provide highlevel proforma, funding plan and evidence of financial capacity.
Process & next steps (recommended)
1. Submit a concise Letter of Interest (LOI) with company profile, relevant project examples and proof of funds.
2. On qualification the owner/facilitator issues an NDA and certified title pack.
3. Site inspection and technical assessment by shortlisted partners.
4. Developer submits a JV proposal (commercial structure, timeline, funding & delivery plan).
5. Negotiate Heads of Terms (capture premium recoupment, facilitator fee payment mechanics, sharing waterfall and milestones).
6. Execute formal JV Agreement and mobilise per agreed milestones.
Contact & registration
Owner and facilitator will meet serious developers immediately. To express interest, request the title pack or arrange a site visit, submit your LOI to:
[Facilitator / Agent]The Build Centre Properties LtdTel: +234 708 056 2616 +234 814 455 0891Email: [email protected]
Notes & confidentiality
- This opportunity is offered semidirect; full documentation released to prequalified parties only (LOI, proof of funds and NDA required).
- All information is provided in good faith and subject to verification. Final terms to be agreed in Heads of Terms and formal legal documentation.
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*
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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.
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