Exclusive And Prime Land Parcel Of 3000sqm On Offer

Property Ref : 3572502

Residential land joint venture

Akin Ogunlewe, Victoria Island (VI), Lagos

₦2,500,000,000

Features

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JOINT VENTURE
Exclusive Joint Venture Opportunity ---
3,000 sqm
Akin Ogunlewe, Victoria Island
(Federal Allocation --- State C of O Under Processing)

Executive summary
A rare JV opportunity in Victoria Island: a 3,000 sqm parcel on Akin Ogunlewe, held on Federal allocation with all dues paid to date. Ratification to a State Certificate of Occupancy is currently being processed. The owner seeks a credible developer partner to propose and deliver a highquality scheme suitable for VI's prime market. Immediate engagement and expedited closing are possible for wellqualified developers.

Quick facts

- Location: Akin Ogunlewe, Victoria Island, Lagos
- Site area: 3,000 sqm
- Land Value: 2.5B
- Premium: N200M
- Current title status: Federal allocation (all dues paid); ratification to State C of O in progress
- Suggested uses: Luxury residential, serviced apartments, highend mixeduse or corporate/commercial development
- Availability: JV proposals being invited now --- site inspections by appointment

Investment highlights

- Premium Victoria Island address with strong demand for highend residential and mixeduse product, excellent resale and rental prospects.
- Federal allocation in place and evidence of dues payment materially reduces title risk; State C of O ratification is underway to complete the titling process.
- Substantial 3,000 sqm footprint provides flexibility for a range of highyield schemes --- from luxury towers to a boutique gated project.
- Owner is receptive to structured JV proposals that demonstrate immediate capacity to mobilise and deliver to market standards.

Suggested development concepts

- Luxury residential tower or a cluster of lowrise luxury apartments/duplexes targeted at premium buyers and expatriates.
- Serviced apartments or a mixeduse scheme incorporating boutique retail and corporate office space.
- Buildtorent institutional product or a branded serviced residence for corporate leasing.(Feasibility and planning studies recommended to determine optimal FAR, unit mix and parking provision given local planning controls.)

Developer profile & selection criteria
Preferred developers will demonstrate:

- Proven delivery of comparable projects in Victoria Island, Ikoyi, Banana Island or similar highend Lagos neighbourhoods.
- Verifiable track record (project references, completion certificates and client testimonials).
- Demonstrable proof of funds or committed construction financing sufficient to commence works promptly after agreement.
- Strong project management, sales & marketing capability and willingness to agree commercial JV terms.

Documents & duediligence checklist (available / required)
Owner to provide:

- Federal allocation letter and receipts evidencing all payments made to date.
- Confirmation of State C of O ratification status and any correspondence with the relevant authorities.
- Survey plan, site coordinates and boundary details.
- Preliminary site photos and highlevel concept (if available).

Developer to provide:

- Letter of Intent (LOI), company profile and recent project references.
- Audited accounts, bank/financing references or proof of funds.
- Initial concept note or development proposal and indicative programme.

Recommended technical/legal due diligence:

- Verify allocation/ratification documents at relevant authorities.
- Full title verification and searches at the Lands Registry.
- Site inspection, survey confirmation and geotechnical investigations.
- Utility availability checks (power, water, drainage, telecoms) and any estate/planning covenants.
- Environmental and regulatory compliance assessments (as applicable).

Commercial considerations

- Pricing, equity split, premium (if any) and facilitator fee (if applicable) to be determined following review of developer proposals and confirmation of outstanding statutory obligations.
- Owner is open to constructive JV structures that deliver value and timely completion; specific commercial terms will be agreed based on the strength of the proposal.

Procedure / Next steps

1. Submit LOI, company profile, proof of funds and an initial development proposal.
2. Execute NDA to access full title documentation and site plans.
3. Site visit and technical/legal verification.
4. Presentation of a detailed JV proposal (programme, financing plan, sales strategy and proposed commercial terms).
5. Negotiate and conclude Heads of Terms and Joint Development Agreement, then mobilise per the agreed programme.

Contact
The Build Centre Properties Ltd

Legal / disclaimer
Information supplied by the owner/agent. Prospective JV partners must undertake independent legal, technical and financial due diligence and verify the current titling status with the appropriate authorities before committing to any agreement. All terms are subject to contract.
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