1,300sqm Joint Venture Opportunity in Victoria Island, Lagos

An exceptional Joint Venture development opportunity is available on Idowu Taylor Street, Victoria Island, Lagos, one of Lagos’ most prestigious and strategically positioned locations.

The property comprises a substantial 1,300sqm parcel of land with an indicated land value of ₦2.5 million per sqm, giving a total land value of approximately ₦3.25 billion.

The landowner is proposing a 12-floor residential development comprising approximately 33 units of apartments, offering developers an attractive opportunity to participate in a high-value residential project within the Victoria Island market.

The proposed sharing ratio is 70:30 in favour of the developer, subject to the final Joint Venture agreement and project structuring.

The developer will also be responsible for settling the infrastructural damages/obligations relating to the previous developer.

Key Details

• Location: Idowu Taylor Street, Victoria Island, Lagos
• Land Size: 1,300sqm
• Land Value: ₦2.5M per sqm
• Total Land Value: ₦3.25 Billion
• Development Proposal: 12 Floors
• Proposed Units: 33 Apartments
• Landowner/Developer Sharing: 30:70 respectively, in favour of the developer
• Title: Lagos State Certificate of Occupancy (C of O)
• Planning Status: Assessment approval currently being processed
• Required Funding for Project Completion: Approximately ₦3 Billion
• Developer's Obligation: Settlement of infrastructural damages/obligations to the previous developer
• Facilitator's Fee: 10%
• Transaction Type: Joint Venture

This opportunity is particularly suited to experienced property developers and investors with the financial capacity to undertake a high-value residential development in Victoria Island.