TERMS & CONDITIONS FOR JOINT VENTURE PARTNERSHIP AT NO. 54A BOURDILLON ROAD, IKOYI, LAGOS.

Prospective partne: A proven capable financier & developer for the construction of high density/high-rise top notch luxury apartments.

Plot size: 2281m2.

Title: Federal Government Certificate of Occupancy.

Value of the land: N2.3m/m2.

Type of Development: High density/high-rise mix of 30 units of contemporary top luxury 4-bedroom maisonettes including 6 units 4/5-bedroom penthouses with modern facilities & amenities.

Height: Permissible height by physical planning authorities.

Architects: Paradigm/Rumis. (Developers may present their designs but if both parties disagree on the designs, it will be outsourced to Paradigm/Rumis.)

Construction firm: Elalan, Cappa & D’Alberto, Al Mansour, etc.
In-house builders will be considered if the standard/portfolio (in Ikoyi) matches those of the preferred grade A contractors.

Sharing formula: Developer 65%/Landowner 35%.

Premium: N600m (deductible upfront from landowners’ portion).

Proof of availability of funds to start & finish the project (eg., Bank statement or guarantee or whatever the institution you plan to use).

Detailed finishing documents.

Facilitators’ fee: 10% of land value (negotiable).