Gracefield, Gravitas Estate, Lekki, Lagos
₦4,400,000,000
| Property Ref: 3104065 | Added On: 19 Sep 2025 | Last Updated: 20 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 8,000 sqm |
Listing title
Prime JV Opportunity --- 8,000 sqm Land at Gracefield / Gravita Estate, Chevron (End of Chevron Drive / Beside Northern Foreshore) Lagos State C of O
Overview
Rare, largescale jointventure parcel on Gracefield / Gravita Estate in the Chevron corridor --- 8,000 sqm positioned at the end of Chevron Drive beside Northern Foreshore Estate. Held on Lagos State Certificate of Occupancy, this waterfrontedge site is offered for JV development with no upfront premium. The owner invites development partners with strong delivery capacity to propose highvalue residential, mixeduse or boutique hospitality concepts that suit the premium coastal micromarket.
Quick facts
- Site area: 8,000 sqm
- Location: Gracefield / Gravita Estate --- End of Chevron Drive, beside Northern Foreshore Estate, Lagos (Chevron waterfront corridor)
- Title: Lagos State Certificate of Occupancy (C of O) --- available for qualified buyer verification
- Asking land value (guide): 550,000 per sqm (indicative) --- implied land value 4,400,000,000 (4.4B)
- Premium: Nil (owner not requesting upfront premium)
- Sharing / JV: Open proposal --- sharing formula to be agreed (owner open to landforequity structures)
- Facilitator fee: 10% of agreed land value (payable as agreed)
Why this site is compelling
- Strategic waterfront corridor: Gracefield / Gravita area is one of Lagos's most attractive lowdensity, highvalue residential and leisure precincts --- strong demand for quality, waterfrontfacing product.
- Size and scale: 8,000 sqm provides development scale suitable for a boutique lowrise estate, townhouse cluster, small luxury apartment scheme, serviced residences or mixeduse development with premium amenities.
- Clean title: Lagos State C of O simplifies title verification and transactional confidence for institutional partners (buyer to confirm via legal due diligence).
- No upfront premium: The absence of a premium reduces initial cash outlay and supports stronger project cashflow modelling for developers.
Suitable development concepts
- Luxury waterfront townhouses / terraces (low rise) with private gardens and parking
- Boutique apartment complex / serviced apartments with highend amenity offering (pool, gym, concierge)
- Mixeduse podium: groundfloor retail / F&B with highquality residential units above (subject to planning)
- Small hotel / boutique hospitality with marinarelated leisure facilities (planning dependent)
- Exclusive gated estate or executive villas for HNW individuals
Suggested JV structures (examples)
- Landforequity: Owner contributes land; developer funds design, approvals and construction; completed units / proceeds shared per agreed equity split.
- Buildtosell: Developer constructs and markets units; net proceeds split after cost recovery.
- Buildoperatetransfer: Developer operates assets for a defined period (if hospitality/serviced apartments) with agreed revenue share prior to transfer.
- Hybrid: Small development premium + equity share to balance owner and developer cashflow needs.
Commercial & negotiation points
- Guide land valuation: 550,000 / sqm (indicative) --- total guide value 4.4B (final valuation and fee mechanics to be agreed).
- Facilitator fee: 10% of land value (clarify timing, escrow and payment mechanics in HoT).
- Owner open to discussing sharing formula, developer fee, cost recovery waterfall and marketing/sales responsibilities.
Prequalification & what the owner expects
Prospective development partners should provide:
- Letter of Interest (LOI) with brief proposed JV approach and indicative timelines
- Company profile, RC documents and track record of comparable projects (portfolio & references)
- Proof of financial capacity / bank reference or audited accounts demonstrating ability to fund project phases
- Highlevel concept brief (indicative unit mix, density, amenity strategy and commercial model)
- Willingness to agree to confidentiality / NDA prior to receiving full title and technical pack
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.
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Ref: Daka
