Awolowo Way, Ikeja, Lagos
₦2,300,000,000
| Property Ref: 3037323 | Added On: 16 Aug 2025 | Last Updated: 16 Aug 2025 |
| Market Status: Available | Type: Residential Land | Total Area: 2,900 sqm |
Prime JV Opportunity --- Awolowo Way / Allen Avenue, Ikeja, Lagos
Location: Awolowo Way (Allen Avenue), Ikeja, Lagos State
Asset: Raw land for Residential JV
Land size: 2,900 sqm
Title: Certificate of Occupancy (C of O)
Land value: 2,300,000,000
Asking premium: TBD (see pricing scenarios)
Broker fee: 10% Binded by IMFPA
Executive Summary
A rare jointventure opportunity on Awolowo Way / Allen Avenue --- one of Ikeja's most soughtafter corridors for residential development. The 2,900 sqm C of O land parcel is being offered for a residential JV. The owner is open to flexible structuring: partial outright sale of 900 sqm or a straight JV on the remaining land, or a fullparcel JV with a defined premium. This is ideal for developers, private equity/platform investors, and institutional partners seeking prime land in Ikeja.
Key Investment Highlights
- Premium location on Awolowo Way / Allen Avenue --- high demand for residential and mixeduse development.
- Clear title: Certificate of Occupancy (C of O).
- Flexible deal structuring: sale of a portion or JV on remaining/full parcel.
- Attractive economics: land value indexed at 2.3B; negotiable premium for JV.
- Opportunity to deliver highvalue residential units or mixed residential product targeting professionals, executives and highnetworth occupiers.
Pricing & Deal Scenarios
1. Partial Sale + JV (Owner's preferred flexibility)
- Owner willing to sell 900 sqm outright for 900,000,000.
- If 900 sqm is sold, remaining 2,000 sqm will be made available for JV without a separate premium.
- This creates immediate liquidity for the owner and a JV platform on 2,000 sqm.
2. FullParcel JV (No sale)
- If the 2,900 sqm is retained for JV, the owner requires a premium of 100,000,000 (net) to structure the JV on the full parcel.
- Land value remains 2.3B; premium to be paid per agreed JV mechanics.
Broker Fee
- Standard broker fee: 10% of land value.
- Example calculation: 10% of 2,300,000,000 = 230,000,000.
- An official letter agreeing to the 10% broker fee will be required as part of the procedure.
Suggested JV Models
- Equity JV (Land for Equity): Owner contributes land; developer provides design, approvals and construction finance. Profits shared per agreed equity split.
- Development Management JV: Developer funds and manages construction; owner retains equity stake and receives developer fee plus profit share.
- Sale + Joint Development: Buyer acquires 900 sqm (as proposed) and partners with owner on remaining 2,000 sqm for JV development.
Required Documents & Procedure (to commence discussions)
1. Letter of Intent (LOI) from interested party.
2. Company profile of the prospective developer/partner.
3. Past project details / portfolio and references.
4. Detailed JV proposal (proposed structure, capital plan, timeline, exit strategy).
5. An official letter confirming acceptance of the 10% broker fee.(Recommended: execute an NDA prior to sharing detailed financials and site documentation.)
Next Steps / How to Proceed
- Submit LOI and required documents listed above.
- Arrange a site inspection and meeting with the owner and KDL Properties.
- Receive information pack: site plan, C of O copy, topography and preliminary survey (available on request).
- Negotiate JV term sheet: equity splits, premium mechanics, development timetable, approvals and exit terms.
- Proceed to legal and technical due diligence.
Contact
To request the full information pack, arrange a viewing, or submit your LOI and company documents, contact:
KDL Properties (Teamwork)
Phone: [Insert phone number]
Email: [Insert email address]
Note
- Premium for the full 2,900 sqm JV is currently stated as 100m (net) if the parcel is not split; owner remains open to negotiation.
- Broker fee acceptance (10%) is required in writing as part of the transaction process.
- All figures and terms are subject to confirmation during due diligence.
