Lekki Phase 1 1,170SQM Joint Venture – ₦1.75B

A prime 1,170sqm Joint Venture development opportunity is available on Dele Ogunbowale Street, Lekki Phase 1, Lagos, positioned within one of Lagos' established high-value residential and investment corridors.

The property comes with a Certificate of Occupancy (C of O), Plan No. LS/D/LA 5162, and currently has an old structure that can be demolished to facilitate redevelopment.

The proposed development is a luxury residential project comprising approximately 20–24 units of 2 and 3-bedroom flats, with a proposed Ground + 4-floor configuration, subject to planning and development approvals.

The financial structure comprises a ₦1.5 billion land value, ₦100 million premium payable to the owner, and a ₦150 million facilitator fee, bringing the stated total entry value to ₦1.75 billion.

The proposed market positioning places 2-bedroom units at approximately ₦280 million–₦350 million and 3-bedroom units at approximately ₦400 million–₦500 million, with a stated gross sales projection of ₦6 billion–₦8 billion, subject to final design, approvals, construction costs and prevailing market conditions.

This opportunity is particularly suited to experienced developers and serious investors seeking a luxury residential development in Lekki Phase 1.

Key Features:

• 1,170sqm development site
• Dele Ogunbowale Street, Lekki Phase 1
• C of O — Plan No. LS/D/LA 5162
• Existing old structure
• Proposed 20–24 luxury flats
• 2 & 3-bedroom apartment configuration
• Proposed Ground + 4 floors
• ₦1.5B land value
• ₦100M owner premium
• ₦150M facilitator fee
• ₦1.75B stated total entry
• Sharing ratio to be agreed
• Confidential transaction
• Suitable for serious developers/investors