Oyebajo Street, Off Isaac John, Fadeyi, Shomolu, Lagos
₦1,000,000
| Property Ref: 3147561 | Added On: 14 Oct 2025 | Last Updated: 20 Oct 2025 |
| Market Status: Available | Type: Land | Total Area: 458 sqm |
JOINT VENTURE OPPORTUNITY
- Opportunity: Owner of a clean-titled plot at Oyebajo Street off Isaac John, Fadeyi is seeking a capable developer partner to deliver a 2storey block of flats under a Build--Operate--Transfer (B.O.T) arrangement.
- Title: Government Consent & Registered Survey (clear transferable title --- strong for lender acceptance and fast project close-out).
- Location strengths: Fadeyi (Lagos Mainland) --- dense residential demand, good access to transport corridors and employment centers, strong rental market for midmarket flats.
- Target investor: a developer with construction & propertymanagement capability, balancesheet or financing relationships, and a track record in small to medium residential projects in Lagos.
Why this is attractive to a developer / investor
- Land provided up front with clean title --- reduces acquisition risk and lowers upfront cash requirement.
- High demand for wellfinished flats in Fadeyi from young professionals, civil servants and families --- steady rental income opportunity.
- Scalability: site suitable for a 2storey walkup or lowrise block of flats with potential to increase value through modest finishes and professional management.
- Shorter construction cycle compared with highrise projects --- quicker revenue generation and faster payback.
- Flexible deal structures (equity split, revenue share or fixed lease payments) to suit developers and financiers.
Proposed project overview
- Development: 2storey block of flats (design options: 6--12 flats depending on plot size and layout; recommend architectural feasibility to maximize yield while adhering to setbacks and parking).
- Typical unit mix suggestions (to be refined after site survey): 1bed & 2bed apartments with provision for common areas, secure parking, generator & water storage.
- Use: rental residential (longterm let) with professional property management during the operating period.
- BOT term (suggested): 7--10 years operating period for the developer to operate and recover investment + agreed return, then transfer completed asset back to owner free of encumbrance.
- Target finish standard: midmarket --- durable finishes to attract stable tenants and minimize turnover.
Suggested commercial structures (indicative --- negotiable)
1. Land-as-equity, developer-finances-construction
- Owner contributes land (valued as equity).
- Developer funds construction and operates asset for agreed period (e.g., 7 years).
- Revenue sharing: developer retains operating cashflow until a preagreed IRR or return multiple is achieved, then transfers asset.
2. Joint-equity (developer + owner)
- Both parties contribute equity (owner = land, developer = cash/loan procurement + management).
- Net operating income distributed per equity share during operation; full transfer at term end.
3. Fixed lease / concession fee
- Developer leases land for fixed annual fee over concession, builds and operates; at end of term, asset transfers to owner.
- Attractive for owners wanting predictable cash flows and limited upside sharing.
Indicative financial points to include in a term sheet
- Construction budget (to be confirmed by contractor quotes and BOQ after feasibility).
- Developer return target (e.g., developer IRR or multiple) and investor/owner share mechanics.
- Operating cash flow priority (e.g., OPEX, debt service, developer preferred return, split).
- Transfer conditions (state of repair, permitted encumbrances, asset handover checklist).
- Performance bonds / completion guarantees.
- Insurance, tax, and compliance responsibilities.
Developer qualifications sought
- Evidence of similar completed residential projects in Lagos (photos, addresses, client references).
- Proof of construction capacity --- inhouse or reliable contractors and consultants.
- Financial capability: audited accounts, bank/financier references, or confirmed construction finance lines.
- Regulatory knowledge: Lagos approvals, building control, utility connections.
- Property management capability or credible partner to lease and operate the flats.
Risk mitigation & value protections
- Clear title (Gov. Consent & Registered Survey) --- reduces ownership risk.
- Completion guarantee or escrow arrangements for retention/defect liability.
- Thirdparty cost and market validations (quantity surveyor and rent studies).
- Insurances: CAR (contractors allrisk), PI for consultants, full property insurance during operation.
- Agreed maintenance/reserve fund to preserve asset value until transfer.
Key next steps (recommended)
1. Confidentiality: sign an NDA to share any further sensitive documents (title docs, site survey).
2. Site visit & survey: confirm plot size, setbacks, soil conditions and maximum developable area.
3. Concept design & feasibility: architect + QS to prepare a concept plan, BOQ and budget.
4. Term sheet: negotiate BOT structure, operating period, revenue sharing and transfer conditions.
5. Due diligence: developer & owner legal, technical and financial due diligence.
6. Final agreement: execute BOT/Concession Agreement, construction contract and security documents.
7. Mobilization & construction: commence once permits and financing are in place.
What I can share immediately (upon your confirmation)
- Copies of title documents (Gov. Consent & Registered Survey).
- Highresolution photos of the plot and immediate environs.
- Suggested concept layouts for a 2storey block (preliminary).
- A draft term sheet for BOT partnership for review by developers.
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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