Lucrative Development Ready Land Parcel Of 3507sqm On Offer

Property Ref : 3570584

Residential land joint venture

Eko Atlantic City, Lagos

$10,521,000
approx. ₦15,243,717,989

Features

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SUPERB JOINT VENTURE OPPORTUNITY
Eko Atlantic City
Property overview
3,507 sqm (Eko Atlantic) ---
Governor's Consent

ite area: 3,507 sqm
- Title: Governor's Consent
- Indicative land value: USD 3,000 / sqm (USD 10,521,000)
- Proposed scheme: Apartment block (minimum 20 floors)
- Sharing formula: To be discussed (owner open to constructive developer proposals)
- Premium: Yes. Amount to be confirmed by owner
- Facilitator's fee: 10% of land value (net)

Executive summary
This parcel carries Governor's Consent and is suitable for a taller apartment block (20+ floors). The presence of Governor's Consent is an important advantage for financing and institutional transactions. The owner is receptive to proposals and commercial structuring, subject to confirmation of any premium.

Investment highlights

- Title strength (Governor's Consent) favours institutional financing and buyer confidence.
- Scale appropriate for a highdensity residential product with high yield potential.
- Flexible commercial structure --- owner open to discussion which allows a developer to present optimized proposals.

Development concept & value drivers

- Highrise apartment block (minimum 20 floors) with a mix of unit sizes to address Lagos demand curves.
- Incorporate premium amenities and optional retail component to diversify income streams.
- Developer-led scheme should include sales strategy targeting local and diaspora purchasers.

Developer requirements

- Strong track record in multistorey residential delivery; experience with highdensity projects preferred.
- Proof of funding and realistic delivery programme.
- Willingness to engage on a transparent commercial proposal that addresses any premium requirement.

Due diligence & documentation

- Governor's Consent documentation (available for review)
- Confirmation of any outstanding premiums or statutory levies (owner to confirm)
- Survey plan and technical reports to be accessed during vetting
- Developer submission: LOI, profile, proof of funds, concept design and financial model

Indicative financials & commercial notes

- Indicative land value: USD 10,521,000
- Facilitator's fee: 10% net of the agreed land valuation
- Any premium will be confirmed prior to Heads of Terms and factored into the JV economics

Next steps

- Submit developer LOI and proof of funds; request confirmation of premium from owner.
- Site visit, document review and commercial proposal presentation.
- Agree commercial structure and proceed to legal documentation and mobilisation.
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