Residential land for sale
Gerrard Road, Ikoyi, Lagos
For sale --- ikoyi development parcel: 1,400 sqm with piling & approved 18‑storey scheme ---
gerrard road, ikoyi
lagos state c of o (46 yrs unexpired)
us$3,200,000
headline: rare ikoyi opportunity --- a titled 1,400 sqm island parcel on gerrard road with piling already installed for an 18‑storey tower and full approvals (granted 2014). prime for a developer to fast‑track a luxury residential landmark (12 residential floors + clubhouse, pool, parking and penthouse). exceptional value at us$3.2m (net).
overviewa premium ikoyi development site offered with outstanding delivery advantages: strategic location on gerrard road, clean lagos state certificate of occupancy (46 years remaining), pile works to the approved stage and planning consent in place from 2014 for an 18‑storey scheme. the approved concept provides high‑quality, low‑density apartments (one 4‑bed unit per floor) and a penthouse duplex --- an ideal proposition for a developer or investor seeking a fast route to handover in one of lagos's most desirable residential precincts.
quick facts
- location: gerrard road, ikoyi, lagos
- land area: 1,400 sqm (single consolidated parcel)
- title: lagos state certificate of occupancy --- 46 years unexpired (certified docs available)
- current status: bareland with piling completed to approved stage for high‑rise structure
- approvals: planning/building approvals granted in 2014 (documents can be shared with qualified parties)
- asking price: us$3,200,000 (three million, two hundred thousand dollars) --- net
approved scheme (summary)
- approved verticality: ground floor + 1 parking level + clubhouse floor with swimming pool + 12 residential floors + penthouse duplex = approved envelope up to 18 storeys
- unit mix (approved): 1 × 4‑bedroom apartment per residential floor (approx. 350 sqm per unit)
- penthouse: 1 × duplex penthouse at top level (spec to be confirmed in pack)
- design intent: premium, spacious units with resident amenities (clubhouse/pool), on‑site parking and secure island servicing
why this asset is compelling
- substantially de‑risked: piling already completed to the approved stage --- major early civil works achieved, reducing time‑to‑market and early capex.
- approved envelope: existing planning approvals (2014) materially shorten pre‑development approvals, subject to validation and any modern compliance updates.
- ikoyi flagship address: gerrard road is a top‑tier residential artery with strong demand for large‑format luxury apartments and penthouses --- excellent capital preservation and rental prospects.
- efficient unit economics: one large 4‑bed unit per floor enhances price per unit and attracts high‑net‑worth purchasers or long‑let expatriate / corporate tenants.
- attractive pricing: us$3.2m net for a titled, piled, approved ikoyi parcel represents a compelling acquisition for experienced developers.
practical & technical notes
- approvals date: 2014 --- purchaser must validate current status and any new conditions or requirement updates with lagos state planning authorities. some revalidation or updated compliance may be required.
- piling: installed to the approved stage --- certified piling records and contractor details available to qualified buyers. structural engineer review recommended to confirm condition and suitability for revised structural designs.
- services: buyer to verify existing utility connections and plan for high‑capacity mep services (power, water, sewage) required for a high‑rise.
- design & yield: as‑built plans and the original approved drawings can be supplied to pre‑qualified parties; buyer may elect to adopt, adapt or re‑submit updated designs to authorities.
recommended due diligence checklist
- legal: certified c of o verification, solicitor title search, check for encumbrances and confirm lease term/conditions.
- planning & approvals: obtain copies of the 2014 approval package; confirm validity, any expiry/revalidation requirements, and confirm that piling was executed per approved design.
- technical: full structural review (pile integrity & certification), geotechnical confirmation, mep audit and roof/anchorage checks.
- commercial: independent market study for premium 4‑bed products in ikoyi, sales comparables and rental projections.
- financial: qs cost‑to‑complete estimate, funding plan and cashflow modelling to determine developer returns.
- statutory: confirm all levies, rates and compliance with lagos state conditions; factor in any modern fire/life‑safety upgrades.
next steps (recommended)
1. submit expression of interest (eoi) with company profile and proof of funds.
2. sign nda --- owner/facilitator will provide the title pack, approved drawings, piling records and site photos.
3. site inspection and technical assessment (structural engineer & qs) arranged for shortlisted parties.
4. negotiate heads of terms (purchase, deposit, timescale and completion mechanics).
5. proceed to legal completion and mobilisation to deliver the approved scheme (or updated design).
contact / viewings
serious, qualified developers and investors are invited to request the data pack and arrange an immediate site meeting.
[listing agent / facilitator]phone: [insert phone number]email: [insert email address]
confidentiality & disclaimer
- all information provided is indicative and in good faith. purchasers must undertake independent legal, technical and financial due diligence.
- approval status (2014) should be re‑validated with lagos authorities and any modern compliance updates implemented prior to construction.
- price is net; agency/facilitator fees and any transaction costs to be agreed in heads of terms.
ref: daka/as...
More details
$3,200,000
approx. ₦4,682,581,110
The Build Centre Properties
09028190510