A rare and highly strategic Joint Venture (JV) opportunity is now available off Freedom Way, Lekki, within the sought-after Richmond Drive axis—an area known for premium residential developments, strong rental demand, and rapid capital appreciation.
This opportunity is offered on a semi-direct mandate, with EL-Rol currently overseeing and coordinating the transaction, ensuring structured engagement and timely responses.
📍 Location Advantage – Richmond Drive, Off Freedom Way
Richmond Drive sits within one of Lekki Phase 1’s most desirable residential corridors. The location offers:
- Immediate access to Freedom Way and major arterial roads
- Proximity to business hubs, lifestyle centers, and beaches
- High demand from professionals, expatriates, and investors
- A strong track record for high-rise residential developments
This makes the property ideal for vertical residential projects with excellent absorption potential.
📐 Property Overview
- Plot Size: 2,500 square meters
- Transaction Type: Joint Venture (JV)
- Land Value: ₦2.5 Billion
- Mandate: Semi-direct
- Premium: Nil
The land size and configuration support efficient planning for multi-unit, high-rise developments.
📑 Title & Documentation
- Title: Governor’s Consent
This ensures:
- Clear ownership structure
- Smooth due diligence
- Bankability for institutional and private developers
🏢 Development Proposal
The landowner is open to and supports a high-rise block of flats development, which aligns perfectly with:
- Zoning characteristics of the area
- Market demand for premium apartments
- Optimal land use in Lekki Phase 1
High-rise apartments in this corridor typically enjoy strong sales velocity and attractive rental yields.
🤝 Joint Venture Sharing Structure
The JV sharing ratio has been clearly outlined:
- Developer: 60%
- Landowner: 40%
This structure is developer-friendly, offering strong upside while maintaining alignment between both parties.
💼 Professional Fees
- Facilitator’s Fee: 10%
Transparent facilitation ensures smooth coordination between the developer, landowner, and transaction managers.
👷 Ideal Development Partners
This opportunity is best suited for:
- Developers with experience in high-rise residential construction
- Institutional or private real estate investors
- Firms with strong technical and financial capacity
- Developers seeking prime Lekki Phase 1 exposure
Only serious and capable developers are encouraged to proceed.
📞 Inspection & Enquiries
Site inspections and detailed discussions are strictly by appointment.
For enquiries, documentation review, and inspection scheduling:
📱 Call / WhatsApp: 08034139285
Conclusion
With a prime Richmond Drive location, Governor’s Consent title, a 2,500sqm plot, and a developer-friendly 60/40 JV structure, this Joint Venture opportunity off Freedom Way, Lekki presents a strong and bankable development play for high-rise residential projects.
Opportunities of this nature in Lekki Phase 1 are increasingly limited—early engagement is strongly advised.
Real