Substantial Premium Land Of 120000sqm For Development

Property Ref : 3616804

Residential land joint venture

Abijo, Lekki, Lagos

₦50,000,000

Features

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Joint-Venture Opportunity ---
Prime Landbank, Eko Akete, Lekki
120000sqm
Overview
A strategic jointventure opportunity to develop an extensive landholding of in excess of 200 plots located in Eko Akete, Lekki. The parcels are offered at an indicative value of 50,000,000 (Fifty Million Naira) per plot . A vendor premium of 100,000,000 (One Hundred Million .
This opportunity is suited to experienced residential and mixeduse developers, institutional investors, landbankers and consortiums seeking scale land inventory within a highgrowth corridor. The site offers scope for phased development of residential estates, gated communities, serviced housing, or mixeduse neighbourhoods, delivering both capital appreciation and income generation.

Key particulars

- Location: Eko Akete
- Landholding: 200+ plots (individual and bulk sale/JV options available)
- Indicative price per plot: 50,000,000
- Title: CFO (vendor to confirm; purchaser to verify)
- Vendor premium: 100,000,000 (commercial premium payable as agreed)
- Sale structures: Jointventure, phased development JV, outright acquisition (individual or bulk), or equityfordevelopment arrangements

Indicative bulk valuation

- Indicative headline value for 200 plots at 50m/plot: 10,000,000,000 (Ten Billion Naira).
- Final bulk pricing and any volume discounts or staged payment arrangements to be negotiated.

Opportunity summary & development potential

- Scale and flexibility: The 200+ plot inventory enables masterplanning for largescale gated estates, mixeduse neighbourhoods or phased residential/commercial rollout.
- Product mix potential: Detached/semidetached homes, terraces, apartments, serviced apartments, amenity clusters (schools, retail, recreation), and estate infrastructure.
- Value drivers: Strategic location (Eko Akete), proximity to transport corridors and amenities, economies of scale for infrastructure delivery, and strong demand for quality residential stock.
- Yield options: Sale of finished units/serviced plots, rental income from lettable components (serviced apartments, retail), or exit via portfolio sale to institutional buyers.

Suggested JV structures (examples to be refined in heads of terms)
Option A --- Developerled Design & Build JV

- Developer appointed to manage design, approvals, financing and construction.
- Land contributed by vendor to JV vehicle in return for equity (vendor equity proportion to be negotiated).
- Profit share, developer fee, and governance rights to be agreed; recommended inclusion of development milestones, QA mechanisms and exit provisions.

Option B --- Equity/deposit for stake

- Investor provides upfront equity/deposit (or phased capital injections) in return for a defined % equity stake in the project/SPV.
- Vendor retains minority or management position depending on negotiated equity split and value of noncash contributions (title, approvals support).
- Further capital calls and financing structure documented in JV agreement.

Option C --- Land sale with development premium

- Outright bulk acquisition at negotiated price with the vendor premium payable on completion or staged.
- Suitable for developers preferring full control and ownership.

Commercial terms & premium

- Price per plot: 50,000,000 (subject to confirmation and negotiation).
- Vendor premium: 100,000,000 --- please confirm whether this is an upfront premium, deposit, or separate consideration; proposed timing and mechanics to be agreed in heads of terms.
- Transaction costs (stamp duty, registration fees, legal fees, taxes, agent commissions) excluded from headline pricing and borne as agreed in the sale/JV agreement.
- All financials and commercial mechanics are indicative pending provision of title documentation, site plan and a formal proforma.

Title, due diligence & required documentation
Prospective partners will be expected to undertake comprehensive due diligence, to include but not limited to:

- Confirmation and verification of title (CFO / C of O documents) and search for encumbrances.
- Certified survey plan, site layout, boundaries and plot schedule.
- Land use, zoning and planning status; confirmation of permitted uses.
- Environmental and geotechnical reports (as appropriate for masterplanning).
- Confirmation of access, road rightsofway and utility provision (water, power, drainage).
- Ownership and chainoftitle review, including any thirdparty interests.
- Tax, statutory and community obligations; any relocation/compensation liabilities.
- Draft heads of terms and proposed JV/shareholders' agreement for review.

Why partner on this opportunity?

- Large scale landbank in a single location enabling masterplanning and delivery efficiencies.
- Ability to capture development margin through phased rollout or blended product mix.
- Scope for strategic value creation via infrastructure investment and placemaking.
- Attractive to partners seeking immediate scale and potential institutional resale options.

Risks & conditions

- Title verification is essential; any title irregularities or encumbrances will materially affect terms.
- Planning approvals and infrastructure provision timelines may influence project cashflow and phasing.
- Vendor premium, payment schedule and final price are subject to negotiation and formal contract.

Next steps & process
To progress, please provide:

- Confirmation of interest and preferred structure (Developerled JV, Equity stake, or Outright purchase).
- Signed NDA to receive full title pack, survey plan and any available technical reports.
- Proof of funds or developer credentials for qualifying discussions.
- Availability for site inspection and preliminary meeting.

On receipt we will supply (subject to NDA):

- Copies of title documentation (CFO/C of O) and plot schedule.
- Preliminary site plan and location map.
- Indicative heads of terms for preferred JV route.
- Available technical or planning reports (if any).

Important notice
All information above is indicative and subject to contract, title verification and negotiation. The vendor reserves the right to amend terms or withdraw the opportunity. Prospective partners must perform independent legal, financial and technical due diligence. Any reference to value or returns is illustrative and not guaranteed.
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