1,300sqm Joint Venture Opportunity in Victoria Island, Lagos
Lagos, South West, Nigeria
Price: Check with seller
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.
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