Attractive Land Parcel Of 5305sqm On Offer

Property Ref : 3570545

Residential land joint venture

Oregun, Ikeja, Lagos

₦4,500,000,000

Features

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Prime Joint Venture Opportunity ---
5,305 sqm Ladipo Oluwole, Ikeja ---
WEMABOD Title

Executive summary
Highvalue JV opportunity on a sizeable 5,305 sqm parcel along Ladipo Oluwole, Ikeja.
The land is held with a WEMABOD title, and the owner is offering a straight 50:50 equity split with a stated premium of 300,000,000.
This is an ideal plot for a midtohigh density residential or mixeduse scheme of up to 12 floors in the heart of Ikeja.
Facilitator's fee: 10% of the stated land value (nonnegotiable).

Quick facts

- Location: Ladipo Oluwole, Ikeja
- Land area: 5,305 sqm
- Title: WEMABOD (documents available for verification)
- Stated land value: 4,500,000,000 (Indicative 848,000 / sqm)
- Premium: 300,000,000
- Proposed commercial structure: 50% --- Land Owner / 50% --- Developer
- Facilitator's fee: 10% of land value (450,000,000 based on stated value)
- Transaction: JV (owner will consider alternative developer proposals)

Investment highlights

- Strategic central Ikeja location with strong demand for quality residential, corporate and mixeduse products.
- Significant land size (5,305 sqm) providing flexibility for a range of schemes---terraces, blocks of flats, serviced apartments, or a mixed podium/tower configuration.
- Clear commercial terms: straightforward 50:50 revenue share and a stated premium, simplifying financial modelling for prospective developers.
- WEMABOD title in place --- title documentation available for due diligence (verification recommended).

Recommended development concepts

- Midrise apartment blocks or townhouse/terrace cluster of up to 12 floors targeting executives and professionals.
- Serviced apartments or shortstay product positioned for corporate tenants.
- Mixeduse development with groundfloor retail/showroom, office floors and residential units above.
- Institutional rental product (buildtohold) for longterm income investors. (Feasibility study advised to optimise density, parking, FAR and unit mix in compliance with Lagos State planning regulations.)

Developer requirements

- Proven track record of deliveries in Lagos (verifiable references and completed projects).
- Demonstrable proof of funds or committed construction financing enabling immediate mobilisation.
- Detailed project delivery capability including construction programme, sales/marketing plan and exit strategy.
- Acceptance of the stated commercial terms (50:50 sharing and facilitator's fee).

Due diligence & documentation (available / required)

- WEMABOD title documents and evidence of ownership --- available for inspection; prospective buyers should verify at the Lands Registry.
- Survey plan and site coordinates --- request originals and confirm boundaries on site.
- Site inspection and confirmation of access, setbacks and existing infrastructure.
- Geotechnical/soils investigation, topography and environmental checks (to be commissioned if not available).
- Utility availability: power, water, drainage and telecoms --- to be confirmed.
- Evidence of premium and any statutory levies, estate or government charges (owner to confirm receipts).
- Developer to submit: LOI, company profile, audited accounts or bank references, proof of funds and a concise development proposal (concept, programme and basic financials).

Indicative financial summary

- Stated land value: 4,500,000,000
- Implied rate: 848,000 / sqm
- Premium payable: 300,000,000 (as stated)
- Facilitator's fee (10% of land value): 450,000,000 (payable as agreed in facilitator agreement)
- Final JV economics, cost allocation and payment milestones to be formalised in Heads of Terms and the Joint Development Agreement.

Transaction process & next steps

1. Submit an LOI, corporate profile, recent project references and proof of funds.
2. Execute NDA to receive full documentation and arrange a site inspection.
3. Technical and legal due diligence (title verification, survey, geotech, utilities).
4. Developer presents a detailed proposal (concept, programme, financing and sales strategy).
5. Agree commercial terms (Heads of Terms), draft and sign JV Agreement, then mobilise per agreed programme.

Contact & submissions
To express interest or to request documentation and viewing, please contact: The Build Centre Properties Ltd

Important notes & disclaimer

- Information provided by the owner/agent. Prospective JV partners must undertake independent legal, technical and financial due diligence and verify the WEMABOD title status with the appropriate authorities prior to commitment.
- Facilitator's fee (10% of stated land value) is payable as part of the engagement and is nonnegotiable unless otherwise agreed in writing.
- All terms are subject to contract and the completion of satisfactory due diligence.
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