Exceptional Joint Venture Offer On 3000sqm Of Prime Land

Property Ref : 3543584

Land joint venture

Behind Eko Hotel, Victoria Island (VI), Lagos

₦8,400,000,000

Features

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Exceptional Joint Venture Opportunity --- Victoria Island, Lagos

Overview
Prime development site located on Akin Ogunlewe Street, Victoria Island --- positioned at the rear of Eko Hotels.
Total land area: 3,000 sqm.
Ideal for a high-end residential development comprising luxury flats across an 8 to 10-storey tower.

This opportunity offers a strategically located, high-impact development plot on Victoria Island with immediate feasibility for luxury residential construction and attractive commercial upside for experienced developers.

Title & Tenure

- Current Title: Federal Certificate of Occupancy (Fed. C of O)
- State C of O is in process

Investment & Financials

- Land valuation: N2,800,000 per sqm
- Total land value (indicative): N8,400,000,000
- Premium: N200,000,000
- Facilitator fee: 10%

Development Proposition

- Concept: Luxury residential apartments (8--10 floors) targeting high-net-worth residents and expatriates.
- Target product mix: Spacious two- to four-bedroom apartments and penthouse units designed to premium specifications, with concierge services, secure parking, backup power, and dedicated amenities.
- Built form rationale: An 8--to 10-storey low-rise tower preserves exclusivity while maximising unit yield and capitalising on Victoria Island's premium residential market.

Site Advantages

- Prime Victoria Island location with immediate proximity to Eko Hotels and island commercial nodes.
- Strong demand drivers: corporate executives, expatriates, and upwardly mobile professionals seeking gated, luxury residences in core Lagos neighbourhoods.
- Excellent accessibility to Victoria Island's business, leisure and hospitality hubs, enhancing rental and resale prospects.
- Suitable plot size (3,000 sqm) affords design flexibility for landscaped setbacks, resident amenities, basement or podium parking, and generous unit layouts.

Value Proposition to Developers

- Ready Federal C of O reduces title risk and accelerates the transaction.
- Attractive land pricing and clearly defined premium structure provide a transparent JV baseline.
- High-margin potential through premium product positioning, professional asset management, and targeted marketing to high-income clientele.
- Opportunity for a headline-brand development on an island address with significant capital appreciation prospects.

Suggested JV Structure (indicative)

- Equity split or land-for-equity model with developer undertaking finance, design, construction, sales and marketing.
- Premium (N200M) payable as upfront consideration or staged as agreed.
- Facilitator fee: 10% guaranteed with IMFPA.
- Clear timeline for State C of O completion to be agreed and incorporated into the SPA/JV terms.

Next Steps

- Confidential review of site documents and verification of title status.
- Feasibility study and preliminary scheme design to determine optimal unit mix, parking strategy and projected GDV.
- Preparation of a formal JV term sheet and legal documentation.

Contact