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Joint Venture Mixed-use Land on Bourdillon Road, Ikoyi, Lagos

There are 2 land joint venture in Bourdillon Road as of 4 Oct 2026. Every listing is posted by an estate agent or developer you can contact directly — filter by price, type, furnishing and recency to find the right home.

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Bare Land Ideal for High Rise Apartments — Bourdillion Road, Ikoyi, Lagos
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₦11,406,455,000

Mixed-use land joint venture

Bare Land Ideal for High Rise Apartments

Bourdillon Road, Ikoyi. Joint Venture. 2,281.291 SQM. Federal C of O. Survey Available. 20-Floor Luxury Residential Development. 34 Units. Premium ₦1.4B. Same Road, Same Pattern as Its Sibling Listing: Priced Above Every Comparable Found for This Exact Size. The problem There's a category of Bourdillon Road JV land where 2,281sqm parcels --- a specific, common size on this exact road --- get quoted at meaningfully different land values and premiums depending on which facilitator is representing the deal, even when the title, location, and general terms are functionally identical. This is precisely that pattern. Multiple independently listed 2,281sqm parcels on Bourdillon Road, all Federal C of O, show land values clustering at ₦4.5 million per sqm with premiums between ₦1.1 billion and ₦1.3 billion. This listing states ₦11,406,455,000 total, which works out to exactly ₦5,000,000 per sqm, plus a ₦1.4 billion premium on top --- above every comparable found at this exact size and address. The agitation Here's the direct comparison, and it echoes almost precisely what shows up on the larger 4,417sqm parcel on this same road. A 2,281sqm Bourdillon Road parcel, Federal C of O, is listed at ₦4.5 million per sqm with a ₦1.1 billion premium and a 60/40 developer-favored sharing split. A separate 2,281sqm Bourdillon Road parcel, same title, is listed at ₦4.5 million per sqm with a ₦1.3 billion premium instead. A distress-sale 2,281sqm Bourdillon parcel, also Federal C of O, is priced at ₦5,000,000 per sqm net --- but is explicitly marked as a motivated below-market sale, not a standard asking rate. A separately described "Elim/Alfred" JV parcel matching this exact size (2,281m²) and title also confirms a ₦4.5 million per sqm land value as the standard rate quoted for this specific parcel elsewhere. This listing's implied ₦5,000,000/sqm matches only the distress-sale outlier --- a price point that exists specifically because that seller needed to move fast, not because it reflects the going rate for a standard, non-distressed Bourdillon Road JV. Layer on the ₦1.4 billion premium, which is the highest premium figure found among the standard (non-distress) comparables at this exact size, and the total cost basis here sits meaningfully above what a developer would pay by anchoring to the ₦4.5M/sqm plus ₦1.1B--₦1.3B premium cluster that multiple other facilitators are quoting for what appears to be the same or a functionally identical parcel. This matters directly to the equity split. The stated sharing here is landowner 38% (13 units) to developer 62% (21 units) --- already a slightly less developer-favorable split than the 60/40 comparable found elsewhere on the same road. Combined with the elevated land value and premium, a developer proposing terms here without first anchoring to the documented ₦4.5M/sqm rate risks giving away meaningfully more equity value than the land itself justifies. The solution 2,281.291 square metres, Bourdillon Road, Ikoyi. Federal Certificate of Occupancy. Survey available. Stated land value implying ₦5,000,000/sqm. Premium: ₦1.4 billion. Development: 20-floor luxury residential development, 34 units. Sharing: Landowner 38% (13 units), Developer 62% (21 units). Developer funds 100% of construction and execution costs. Amenities: swimming pool, gym, padel courts, residents' lounge, kids' playground. Preferred contractors: El-Alan or Cappa & D'Alberto. Timeline: 36 months. Proof of funds required. Here is what's genuinely verified and what a developer should negotiate before signing anything: Verified: Federal Certificate of Occupancy. The strongest individual title instrument available under Nigerian land law, consistent across every comparable Bourdillon parcel found. Verified: address and amenity package. Bourdillon Road remains one of Ikoyi's most established addresses, and the stated amenity list --- pool, gym, padel courts, residents' lounge, kids' playground --- is a genuinely complete package for a 34-unit residential tower. Needs negotiation: land value. Multiple comparable 2,281sqm Bourdillon Road parcels, same title, are quoted at ₦4.5 million per sqm --- a developer has clear, documented grounds to negotiate this parcel's implied ₦5,000,000/sqm down toward that established rate. Needs negotiation: the ₦1.4B premium. This exceeds the ₦1.1B--₦1.3B premium range found on directly comparable 2,281sqm Bourdillon parcels --- treat it as a starting position, not a fixed figure. Needs negotiation: the 38/62 sharing split. A comparable 2,281sqm Bourdillon parcel offers a 40/60 split in the developer's favor --- two percentage points better than what's proposed here, which compounds with the elevated land value and premium to meaningfully affect total project economics. Why this beats going in without asking. A developer who raises the documented ₦4.5M/sqm rate, the ₦1.1B--₦1.3B premium range, and the 60/40 split precedent found on comparable Bourdillon Road parcels is negotiating from genuine market evidence, not guesswork --- and stands to materially improve the deal's economics before committing proof of funds. The call to action 2,281.291sqm. Bourdillon Road, Ikoyi. Federal C of O. Implied ₦5,000,000/sqm plus ₦1.4B premium --- both above the documented range for comparable 2,281sqm parcels on the same road. Call or WhatsApp Smilebay Realties: +234 901 517 4801 and ask directly: can the land value and premium be negotiated toward the ₦4.5 million per sqm and ₦1.1B--₦1.3B premium range documented on comparable Bourdillon Road parcels of this same size? Serious developers only. Proof of funds required. Independent verification of land value and sharing terms strongly recommended before proposal. The address is already Bourdillon Road --- that part isn't in question. The title is already Federal C of O --- that part checks out. The number and the split are both above what's documented elsewhere on the same road, and both are worth negotiating before anything else. Land Type: Mixed-use Land --- Joint Venture Size: 2,281.291 sqm Stated Total Price: ₦11,406,455,000 (implies ₦5,000,000/sqm --- flagged as above comparable range) Premium: ₦1,400,000,000 (flagged as above comparable range) Title: Federal Certificate of Occupancy Survey: Available Development: 20-floor luxury residential development, 34 units Sharing: Landowner 38% (13 units) / Developer 62% (21 units) Developer Funding: 100% of construction and execution costs Amenities: Swimming pool, gym, padel courts, residents' lounge, kids' playground Preferred Contractors: El-Alan / Cappa & D'Alberto Timeline: 36 months Requirement: Proof of funds required Location: Bourdillon Road, Ikoyi, Lagos Market Comparable Context (Bourdillon Road, 2,281sqm-tier JV land): 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.1B premium, 60/40 split 2,281sqm, Bourdillon Road, Fed C of O --- ₦4,500,000/sqm + ₦1.3B premium 2,281m², Bourdillon Road, Fed C of O ("Elim/Alfred" listing) --- ₦4,500,000/sqm 2,281sqm, Bourdillon Road, Fed C of O, distress sale --- ₦5,000,000/sqm net (below-market motivated sale) This listing: 2,281.291sqm, Bourdillon Road --- implied ₦5,000,000/sqm + ₦1.4B premium, 38/62 split Posted: 5 September 2026 Listed by: Smilebay Realties Limited --- Ref: #365-859-6

Bourdillion Road, Ikoyi, Lagos
Smilebay Realties Limited
3, 932 SQMS Mixed Use Land — Glover Road Ikoyi, Ikoyi, Lagos
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₦15,728,000,000

Mixed-use land joint venture

3, 932 SQMS Mixed Use Land

Glover Road, Ikoyi. 3,932 SQM. Joint Venture. Planning Approved. Piling Already Completed. ₦4,000,000/SQM. No Premium. This Is Not Raw Land. This Is a Site That Has Already Cleared the Slowest Part of the Process. The problem There is a category of Lagos high-rise development conversation that most JV listings never actually reach --- the stage where planning approval is secured and the foundation work has already started. Most JV land offered to developers in Ikoyi is still theoretical. Survey pending. Approval pending. Premium undisclosed until a contractor has already spent weeks in negotiation. The genuine bottleneck for a high-rise contractor isn't finding land in Ikoyi --- it's finding land where the 12-to-18-month approval cycle has already been absorbed by someone else, and where the ground has already been tested and piled. This listing is that site. 3,932sqm on Glover Road, Ikoyi. Lagos C of O. Planning already approved for a 17-floor block of flats. Piling already completed. No premium attached to the land value. The question for a serious high-rise contractor isn't whether Ikoyi land is worth developing. It's whether this specific site --- already de-risked at the two stages that kill most JV timelines --- is worth committing to before another contractor closes it. The agitation Here is what the comparable market shows right now. A near-identical 3,900sqm parcel elsewhere in Ikoyi, also carrying an approved 17-storey high-rise development, is currently listed at ₦15,600,000,000 --- effectively the same size, the same approval status, priced at roughly ₦4M/sqm once premium and terms are factored in. A separate comparable, also close to 3,932sqm in a high-profile Ikoyi location, has been marketed as "closeable" at ₦15,728,000,000. This listing --- 3,932sqm at ₦4,000,000/sqm, no premium --- works out to approximately ₦15,728,000,000 in total land value, placing it directly inside the range both comparables above are asking for. The difference is what this listing has that a purely land-value comparison doesn't show: piling is already completed. On a 17-floor high-rise, piling is not a minor milestone --- it's the geotechnical and structural foundation work that typically consumes months of a project timeline and carries real risk if soil conditions turn out to be difficult. That risk has already been absorbed here. Every month a qualified high-rise contractor spends evaluating a still-theoretical JV elsewhere in Ikoyi is a month this site's timeline advantage compounds. Approval delays are the single most common reason Lagos high-rise JVs stall before a foundation is even poured. This one has already cleared that stage. The solution 3,932 square metres, mixed-use land, Glover Road, Ikoyi. Lagos State Certificate of Occupancy. ₦4,000,000 per sqm, no premium. Planning approved for a 17-floor block of flats. Piling completed. Survey available. Here is what each element actually delivers to the contractor evaluating this deal: Planning approval already secured. The single longest and most unpredictable phase of a Lagos high-rise JV --- Lagos State Physical Planning Permit approval for a 17-floor structure --- has already been obtained. A contractor stepping into this deal is not waiting 12-18 months before construction can legally begin. They are stepping in at the construction phase. Piling already completed. The geotechnical risk on a 17-floor structure is real and expensive to get wrong. Piling completion means the foundation engineering has already been tested against the actual soil conditions on this specific site --- not modeled from a neighbouring parcel's data. This removes a major source of budget and timeline uncertainty before the JV contract is even signed. No premium. The land value is the land value --- ₦4,000,000/sqm, disclosed upfront. No separate negotiation over a premium figure layered on top after due diligence has already consumed time and cost. Glover Road, Ikoyi. A residential and mixed-use street inside the same Ikoyi core that includes Bourdillon, Alexander, and Awolowo Road --- established infrastructure, established demand, not a developing axis with unproven absorption. Lagos State C of O, survey available. Title documentation ready for immediate solicitor review --- a straightforward due diligence process rather than a title chain requiring reconstruction. Why this beats the alternative JV sites currently on the market. The two closest comparable parcels --- both around 3,900sqm with a 17-storey approval --- are asking a similar or higher total land value without disclosing whether piling has been completed. A contractor evaluating those sites is still pricing in the foundation-stage risk this listing has already removed. At the same approximate land value, this is the site with less remaining execution risk. The call to action 3,932sqm. Glover Road, Ikoyi. ₦4,000,000/sqm. No premium. Approved 17-floor block of flats. Piling completed. This is not an offer for a corporate professional looking to buy a home. This is a JV slot for a high-rise contractor or developer with proven capacity to take a piled, approved site to completion. Call or WhatsApp Smilebay Realties: +234 901 517 4801. Serious high-rise contractors only. Survey and approval documentation available for immediate review. The approval is already granted. The piling is already done. The part of this project that usually takes a year has already happened. Land Type: Mixed-use Land --- Joint Venture Size: 3,932 sqm Land Value: ₦4,000,000/sqm (estimated market rate) Premium: Nil Title: Lagos State Certificate of Occupancy (C of O) Survey: Available Owner's Development Preference: 17-floor block of flats Planning Approval: Approved Current Status: Piling completed Contractors Preferred: Experienced high-rise contractors Agency Fee: 10% Location: Glover Road, Ikoyi, Lagos NPC Comparable Context: 3,900sqm parcel, Ikoyi, approved 17-storey high-rise --- ₦15,600,000,000 Closeable ~3,932sqm parcel, high-profile Ikoyi location --- ₦15,728,000,000 This listing: 3,932sqm, Glover Road, Ikoyi, approved + piled --- approx. ₦15,728,000,000 (₦4,000,000/sqm, no premium) Posted: 25 July 2026 Listed by: Smilebay Realties Limited --- Ref: #358-895-3

Glover Road Ikoyi, Ikoyi, Lagos
Smilebay Realties Limited

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Area Guide

About Ikoyi, Lagos

By and large, Ikoyi is a posh neighbourhood with a mishmash of exquisite residential apartments and commercial presence.

Ikoyi borders the Lagos Lagoon and takes up the eastern half of Lagos Island. It is one of the towns that make up the Eti-Osa Local Government Area of Lagos state.

Originally, the British Colonial Governments designated Ikoyi as a residential area for the expatriate community perhaps due to its proximity to the sea. However this arrangement changed with time with big establishments locating their corporate headquarters at Ikoyi. Ikoyi is home to the creme de la creme of the Nigerian society, from diplomats to senior company, business executives and senior public servants.

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There are 2 available mixed-use land joint venture on Bourdillon Road, Ikoyi, Lagos. You can view and filter the list of property by price, furnishing and recency.

Prices for mixed-use land joint venture on Bourdillon Road, Ikoyi, Lagos range from ₦11,406,455,000 to ₦15,728,000,000.

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