Joint venture opportunity -- prime land on bourdillon road, ikoyi, lagos
3,500 sqm lagos state c of o (recently renewed) land value: ₦3.5m per sqm existing design: 15 floors, 41 residential units + penthouse brokerage fee: 10% (negotiable)
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property & jv overview
- location: bourdillon road, ikoyi, lagos -- one of the most prestigious and sought‑after addresses in africa.
- land size: 3,500 sqm.
- title: lagos state certificate of occupancy (c of o) -- recently renewed, providing strong legal security and bankability.
- land value: ₦3,500,000 per sqm.
- total land value: ₦12,250,000,000.
- existing design: architectural plans already in place for a 15‑floor development comprising 41 residential units plus a penthouse.
- jv sharing formula: to be negotiated based on land contribution vs. development cost.
- brokerage fee: 10% of land value (negotiable).
- facilitator's fee agreement: required before full disclosure.
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key highlights
- iconic bourdillon road address: synonymous with ultimate luxury, privacy, and prestige -- home to nigeria's elite, diplomats, and top corporate executives.
- recently renewed c of o: a significant advantage -- ensures the title is current, verified, and compliant with lagos state land regulations.
- existing architectural design: plans already developed for a 15‑floor, 41‑unit residential tower plus a penthouse -- saves significant pre‑development time and cost.
- substantial development scale: 3,500 sqm allows for a landmark high‑rise with generous amenities, parking, and landscaping.
- clear transaction requirements: loi, facilitator fee agreement, company profile, and a meeting with the developer are prerequisites -- streamlining the process for serious partners.
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️ proposed development -- 15 floors, 41 units + penthouse
based on the existing design:
- total units: 41 residential apartments + 1 penthouse.
- typical unit mix: likely a combination of 2‑, 3‑, and 4‑bedroom luxury apartments.
- penthouse: a signature duplex or triplex with private terrace, pool, and panoramic views.
- amenities: expected to include lobby, concierge, gym, pool, spa, rooftop lounge, and multi‑level parking.
- target market: ultra‑high‑net‑worth individuals, corporate tenants, expatriates, and luxury investors.
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location benefits -- bourdillon road, ikoyi
- unmatched prestige: one of the most exclusive streets in lagos, known for its security, greenery, and legacy estates.
- proximity to key destinations: minutes from falomo, victoria island, ikoyi club, and major business hubs.
- excellent infrastructure: well‑paved roads, drainage, street lighting, and 24/7 security presence.
- high demand, limited supply: new luxury developments on bourdillon are exceptionally rare -- ensuring strong pre‑sales and rental interest.
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financial structure
- land contribution value: ₦12.25 billion.
- developer's role: provide 100% of construction financing, project management, bank guarantee (likely), and sales/letting.
- profit sharing: to be negotiated -- typically based on the ratio of land value to total development cost (construction + soft costs + contingency).
- brokerage fee: 10% of land value (₦1.225 billion) -- negotiable, typically payable from the landowner's share upon jv execution.
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transaction requirements for interested developers
serious developers must provide:
1. letter of intent (loi) -- expressing interest and confirming understanding of the jv structure.
2. facilitator fee agreement -- signed and returned before document disclosure.
3. company profile -- with verifiable evidence of luxury high‑rise projects (12+ floors) completed in ikoyi, victoria island, or banana island.
4. proof of funds -- bank statements or financing letters showing capacity for a project of this scale (estimated construction cost ₦15b--₦25b+).
5. meeting with developer -- a physical or virtual meeting will be scheduled after initial documentation is reviewed.
due diligence:
- upon fulfilling the above, the facilitator will provide the c of o, existing architectural designs, survey, and arrange a site inspection.
ideal partner profile:
- top‑tier real estate developer with a proven track record in ultra‑luxury high‑rises on ikoyi or banana island.
- strong financial capacity and access to construction finance.
- ability to deliver a 15‑floor, 41‑unit plus penthouse development within a reasonable timeline.
a rare bourdillon road jv opportunity -- with existing designs, a renewed c of o, and a clear path to development. only serious, experienced developers with proof of funds will be engag...
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