4,417 Sqm Joint Venture On Bourdillon Road, Ikoyi, Lagos

Joint Venture Development Opportunity Prime Land on Bourdillon Road, Ikoyi
4,417 SQM Direct Bourdillon Road Frontage Proposed High-Rise Land Value: ₦3.8M/SQM

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Property & Proposal Overview

- Location: Bourdillon Road, Ikoyi, Lagos.
- Land Size: 4,417 SQM.
- Proposal: High-rise development (specific details to be confirmed).
- Land Value: ₦3.8 Million per SQM.
- Total Land Value: ₦16.7846 Billion.
- Premium: ₦1 Billion (to be factored into total land cost for JV).
- Agency/Facilitator's Fee: 10% of land value.
- Owner Status: Reported as available to conclude a transaction immediately.

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Key Highlights

- Iconic Bourdillon Road Address: This is one of the most exclusive and prestigious addresses in Nigeria, offering unparalleled recognition and appeal for a luxury development.
- Substantial Development Footprint: Over 4,400 SQM provides significant space for a landmark high-rise project with extensive amenities.
- Urgent Transaction Timeline: The owner's reported readiness for immediate closure presents a potentially accelerated partnership timeline for a qualified developer.
- High-Rise Potential: The location and scale are ideally suited for a premium residential tower, corporate headquarters, or mixed-use landmark.

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️ Development Potential

Given the location and scale, the site is ideal for:

- Ultra-Luxury Residential Tower(s) with panoramic views.
- Corporate Headquarters Building for a leading institution.
- High-End Mixed-Use Complex (Residential, Office, Retail).
- Boutique Hotel or Branded Residences.
The specific proposal of "High Rise" indicates zoning and planning potential for significant density.

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Location & Market Context

- The Pinnacle of Prestige: Bourdillon Road is synonymous with ultimate luxury, privacy, and status in Lagos real estate.
- Established Elite Enclave: Surrounded by other high-value properties, embassies, and consulates, ensuring a consistent high-net-worth environment.
- Central Connectivity: Provides excellent access to the business districts of Victoria Island and Ikoyi while maintaining a serene, secured atmosphere.
- Market Valuation: The stated land value of ₦3.8M/SQM is within the upper tier of the current 2026 market for absolute prime, titled Ikoyi frontage land.

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Financial Structure & JV Implications

- Total Land Cost for JV: Land Value (₦16.78B) + Premium (₦1B) = ₦17.7846 Billion.
- Agency Fee: 10% of land value, typically payable by the landowner upon deal closure, but structure must be clarified in the agreement.
- JV Partnership Model: This would typically involve the landowner contributing the land at the agreed value, and the development partner contributing 100% of the construction funding and expertise. The final equity split is negotiable based on these contributions.
- Project Scale: A high-rise development on this site represents a multi-billion dollar investment, targeting the ultra-premium segment of the market.

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️ Critical Verification & Next Steps

Despite the urgency ("Sure Deal"), comprehensive due diligence is non-negotiable for an asset of this magnitude.

1. Immediate Title Verification: The first step is to confirm the authenticity of the title (likely a Governor's Consent or C of O) at the Lagos State Lands Bureau. This is the only way to confirm ownership and check for encumbrances.
2. Physical & Technical Due Diligence: A site visit with surveyors to confirm size and boundaries, followed by geotechnical and feasibility studies for a high-rise.
3. Direct Owner Engagement: Establish direct contact with the verified landowner to understand the full proposal, the reason for the premium, and to negotiate terms.
4. Professional JV Agreement: Engage a top-tier real estate lawyer to draft a binding Joint Venture agreement that clearly outlines all contributions, roles, profit-sharing, and dispute resolution mechanisms.

Ideal Partner Profile:

- A development consortium or institution with proven experience in delivering high-rise luxury projects in prime locations.
- Entity must have the financial capacity to fund construction costs that will significantly exceed the land value.

This is a rare call to action for a landmark Ikoyi site. Proceed with the utmost urgency in your verification, not just in transaction talks.