Kusenla Road, Ikate, Lekki, Lagos
₦2,500,000,000
| Property Ref: 3197552 | Added On: 11 Nov 2025 | Last Updated: 11 Nov 2025 |
| Market Status: Available | Type: Land | Total Area: 2,389 sqm |
JOINTVENTURE DEVELOPMENT OPPORTUNITY ---
BROWNSTONE / SEAGATE PRECINCT,
IKATEELEGUSHI, LEKKI
Executive Summary
- Rare JV opportunity to develop a prime parcel of land in the IkateElegushi / Lekki corridor. The asset is a bare land of approximately 2,389 sqm located in the Brownstone / Seagate precinct along Kusenla Road, IkateElegushi --- a highdemand, wellconnected residential and mixeduse neighbourhood.
Proposed development: Block of flats (midrise residential or mixeduse subject to planning).
Property value: 2,500,000,000 (Two Billion Five Hundred Million Naira).
Facilitator's fee: 8% of property value --- NET (payable as agreed).
Sharing formula: To be agreed with qualified developer partners (flexible models: landforequity, profit share, or hybrid structures).
Location & Site Summary
- Address: Kusenla Road, IkateElegushi / Brownstone Estate (Seagate precinct), Lekki, Lagos.
- Site area: Approximately 2,389 sqm (confirmable on site inspection and by survey).
- Neighbourhood: Rapidly appreciating residential and mixeduse catchment with strong demand from owneroccupiers, young professionals and rental markets; close to major employment hubs, schools, retail, hospitality and transport routes.
- Access: Good road frontage and ease of access to LekkiAjah corridor; excellent visibility and marketability for residential flats.
Development Opportunity
- Ideal product: Midrise block of flats (apartments/serviced units) targeting midtoupper market segments; potential for ground floor retail or amenities to enhance cashflow and market appeal.
- Flexibility: Site can be configured for highdensity apartment layout, stacked maisonettes or mixed residential/retail depending on approvals and developer strategy.
- Value creation: Location and land size support meaningful scale and strong market demand; immediate value uplift achievable through professional design, branded finishes or institutional leasing strategies.
Investment Highlights
- Prime Lekki corridor location with strong capital appreciation prospects.
- Large contiguous site (2,389 sqm) allowing efficient design yield and amenities.
- Opportunity to leverage developer experience and marketing to maximize returns.
- Clear transaction pathway as a JV --- reduces upfront land outlay for developers while offering landowner upside.
Financials & Fees
- Indicative property valuation: 2,500,000,000.
- Facilitator's fee: 8% of property value (200,000,000) --- NET. Payment terms to be agreed and documented in the facilitator fee letter.
- Sharing / equity split: Open for negotiation. Typical approaches include:
- Landowner contributes land; developer contributes capital, design, approvals and construction --- profits shared.
- Landowner takes an equity stake and receives cash payment portion + profit share.
- Fixed developer fee + performance bonus / profit participation.
(Exact model to be agreed following developer proposal and financial modelling.)
Required Developer Profile & Documentation
Only experienced developers with proven capacity should apply. Required submissions:
- Company profile (track record, financials, completed projects and references).
- Proposed development concept (highlevel scheme, indicative unit mix and preliminary yield ideas).
- Proof of financial capacity (bank statements, JV commitments, letter of credit or equity commitment).
- Proposed JV structure / sharing proposal and project delivery timeline.
- Confirmation of willingness to proceed via JV please do not initiate contact if you can't follow procedure
Procedure (strictly followed)
1. Site inspection and measurement (arranged by facilitator).
2. Submission of developer's company profile and proof of capacity.
3. Submission of a highlevel proposal (concept, unit mix, construction timeline, financing approach).
4. Submission of facilitator's fee letter confirming acceptance of 8% NET fee and payment schedule.
5. Negotiation of JV terms, financial model and heads of agreement (HoA).
6. Due diligence, planning approvals and formal JV/SPA documentation.
7. Project commencement upon signing and mobilization.
Important Notes
- Confidentiality: Detailed site information, legal documents and financials will be shared only with qualified developers upon execution of an NDA and proof of capacity.
- Exclusivity: Developer must be ready and willing to proceed via JV --- if not, please refrain from initiating discussions.
- Facilitator role: The facilitator will coordinate site access, documentation review and introduction to the landowner; fee payable per agreed terms.
This is a premium JV development opportunity in one of Lekki's most dynamic precincts --- limited to serious, wellcapitalized developers only. We invite qualified parties to submit their profiles and proposals for immediate consideration.
Ref: Akute
