Chevron Drive, Lekki, Lagos
₦1,650,000,000
| Property Ref: 3058814 | Added On: 27 Aug 2025 | Last Updated: 29 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 3,000 sqm |
NOTICE: *DIRECT DEVELOPER COMMUNICATION ONLY* (NO AGENTS- NO MANDATES)
Premium Joint-Venture Opportunity --- 3,000 sqm Waterfront Parcel, Gracefield Estate (Lagos Lagoon Shoreline,
Chevron, Lekki)
Asking price: N550k- per sqm
Total: N1.650b
Facilitation: 10%
Note: Images are for illustration purposes
BRIEF: SEMI MANDATE
Owner Seeks a Unique, Bold & Beautiful Residential or Mixed Use Development
Photos: Illustration purposes Only. (Land Owners View)
Completely open to Developer's Final Proposal
Overview ---
- Rare 3,000 sqm waterfront plot directly on the Lagos Lagoon within Gracefield Estate, Chevron (Lekki) --- highly sought-after, secure estate with limited new waterfront availability.
- Ideal for high-end residential or mixeduse development (signature apartments, terraces, duplexes, penthouses, limited retail/ F&B/amenity podium).
- Perfect JV opportunity for an owner-investor seeking active developer partnership: land contribution + profit share or hybrid equity structure.
- Strong value drivers: waterfront premium pricing, capital appreciation in Lekki corridor, strong demand from HNWIs, executives, expatriates and diligence highlights)
- Title & approvals: confirm land title (C of O/Lease), existing covenants and estate regulations. Lagos State planning consents required for height, setbacks and land use changes..
Three commercially viable concept schemes (conceptual --- to be refined with architect & quantity surveyor)
Concept A --- Boutique Waterfront Signature Terraces & Duplexes (low-rise, ultra-luxury)
- Product: 8--12 luxury townhouses/duplexes and 2--4 standalone lagoon villas. Each unit with private garden, roof terrace and direct lagoon access where feasible.
- Massing assumption: 3-storey walk-ups, site coverage ~35--45%, GFA ~3,200--3,800 sqm.
- Typical unit sizes: 250--400 sqm (3--5 beds), with a limited number of 4--6 bed waterfront villas (400--600 sqm).
- Unit count example: 10 units x 300--350 sqm average = ~3,000--3,500 sqm saleable area.
- Amenities: private jetty/mini-marina, private pool per villa/communal lagoonfront infinity pool, clubhouse, concierge, rooftop terraces, in-unit staff quarters optional.
- Target buyers: High-net-worth owner-occupiers, family offices, embassies, executives seeking privacy and direct waterfront access.
- Commercial rationale: scarcity premium for standalone waterfront houses/terraces; strong capital appreciation and high persqm pricing.
Concept B --- Mid-Rise Signature Apartment Development (best balance of density, returns)
- Product: 4--6 storey luxury apartment blocks (2 blocks) with high-spec finishes and a landscaped lagoonfront promenade.
- Massing assumption: site coverage ~45--55%, 4--6 floors, GFA ~6,000--7,500 sqm gross; estimated net saleable area ~4,500--5,500 sqm (after cores, services).
- Unit mix example (approx. 40--50 units):
- 1-bedroom: 12--15 units @ 65--80 sqm
- 2-bedroom: 18--22 units @ 110--140 sqm
- 3-bedroom: 8--12 units @ 170--220 sqm
- 2--4 duplex penthouses/sky villas (top floor/roof) 250--400 sqm
- Parking: basement + surface (1.5--2 spaces/unit).
- Amenities: lagoonfront pool & deck, gym, spa, residents' lounge, kids' play area, 24/7 security, concierge, managed short-let/serviced suite option.
- Target buyers/renters: premium long-term residents, corporate housing, high-income renters; strong saleability to both local and expatriate markets.
- Commercial rationale: optimal density to maximize GDV while preserving premium waterfront product and high margins.
Concept C --- High-End Mixed-Use with Podium + Tower & Sky Penthouses (premium GDV maximization)
- Product: 8--12 storey tower(s) over 2level podium with boutique retail/ F&B, lifestyle amenities, and signature sky-penthouses/duplexes.
- Massing assumption: podium + tower yields GFA ~8,500--10,000+ sqm (subject to planning consents); net saleable area ~6,500--8,000 sqm.
- Unit mix example (approx. 60--80 units):
- 1-bedroom: 20--25 units
- 2-bedroom: 25--30 units
- 3-bedroom: 10--15 units
- 6--8 penthouses/duplex sky villas 250--500 sqm each
- Mixed-use component: ground-floor boutique retail/cafs ideal for lagoonfront dining; managed co-working/amenity suites for residents.
- Amenities: rooftop pool, resident's private marina or jetty access, full-service gym & spa, valet, 24/7 concierge, secure basement parking (2 levels).
- Target buyers: premium investors seeking trophy assets, buyers desiring iconic signature building with penthouse inventory catering to top-tier market segments.
- Commercial rationale: maximizes saleable area and GDV; suitable where planning permits higher FAR/height.
Suggested JV structures & commercial terms
- Land-for-equity: owner contributes land (valued) and takes equity in the SPV; developer contributes design, planning, construction and marketing expertise and capital. Profit share examples: 60:40 (developer:owner) or 50:50 depending on land valuation and developer risk profile.
- Build-and-sell (developer finances construction): developer retains sales and pays agreed share/land value to owner on completion/sale milestones.
- Build-to-hold (rental/serviced apartments): consider longer-term institutional JV with rental yield target and professional property management.
- Milestone-based payments: phased profit distributions on practical completion, sales milestones and final handover.
- Governance: SPV board with both parties, defined decision rights for design, sales pricing, contractor selection, and exit options (buy-out clauses).
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.
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Finalize purchase, rental or lease with legal support.
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