Residential land joint venture
Bourdillon Road, Ikoyi, Lagos, 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 tal...
More details
₦16,784,600,000
Ac Valour International
08036503218