6,326 Sqm Joint Venture On Gerrard Road, Ikoyi

Joint Venture Development Opportunity Prime Land on Gerrard Road, Ikoyi
6,326 SQM Direct Gerrard Road Frontage LASG C of O Title Land Value: ₦3.5M per SQM Proposed: Twin 15-Floor Towers

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Property & Proposal Overview

- Location: Plots A & B, Zone 31, Gerrard Road (Residential Zone), Ikoyi, Lagos.
- Land Size: 6,326 SQM.
- Title: Lagos State Government (LASG) Certificate of Occupancy (C of O).
- Land Value: ₦3.5 Million per SQM.
- Total Land Value: ₦22.141 Billion.
- Owner's Vision: Development of a minimum of twin 15-floor residential towers with ample dedicated parking.
- Partnership Model: Joint Venture (JV). Sharing ratio to be determined (TBD) based on contributions.
- Facilitator's Fee: 10% of the total land value, payable upon successful JV agreement.

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Key Highlights

- Unrivalled Ikoyi Address: Direct frontage on Gerrard Road, one of the most prestigious and sought-after residential addresses in Africa.
- Institutional-Scale Site: A rare, large contiguous parcel (over 6,300 SQM) in core Ikoyi, suitable for a landmark, high-density project.
- Premium Title Security: A full LASG C of O is the gold standard for land ownership in Lagos, ensuring maximum security for financiers and partners.
- Clear Development Directive: The landowner has a specific vision for high-rise luxury residential towers, reducing initial planning ambiguity.
- Ready for Inspection: The property is accessible for immediate due diligence and feasibility studies.

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️ Development Potential & Vision

This partnership is envisioned to create a premier residential landmark. The core proposal includes:

- Twin 15-Floor Luxury Residential Towers.
- High-Quality Specifications: Premium finishes, modern amenities, and expansive views.
- Significant Parking Provision: Ample dedicated car park spaces as a key requirement from the owner.
- Potential: While focused on residential, the scale allows for integrated amenities (wellness spa, clubhouse, retail podium) to create a world-class vertical living community.

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Location & Market Context

- Ikoyi's Premier Corridor: Gerrard Road is synonymous with luxury, privacy, and elite living, ensuring strong demand and premium pricing for units.
- Established Infrastructure: Benefits from excellent roads, reliable power in many parts, and top-tier security.
- Proximity to Business Hubs: Minutes from Victoria Island's business district and Lagos Island's commercial center.
- Market Justification: The asking land value of ₦3.5M/SQM is aligned with current 2026 valuations for prime, titled Ikoyi land, especially on a major road like Gerrard Road. End-unit prices in new developments here regularly exceed $1,000,000.

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JV Structure & Financial Implication

- Landowner's Contribution: Land valued at ₦22.141 Billion.
- Developer/Partner's Contribution: Full financing for construction, expertise, and project execution.
- Ownership Split: To be negotiated (TBD), typically based on the agreed value of land versus the total project cost (construction, soft costs, profit).
- Project Scale: A development of this magnitude on this site will likely have a total project cost exceeding ₦50 Billion, targeting the ultra-luxury market segment.

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Next Steps for Serious Partners

This is an opportunity to co-create an iconic project in the heart of Ikoyi. Ideal partners must have proven capability and financial capacity.

Submit an Expression of Interest Including:

1. Company Profile & Track Record: Detailed portfolio of completed high-rise (10+ floors) luxury residential projects.
2. Proof of Financial Capacity: Evidence of ability to fund a project of this scale.
3. Initial Technical Proposal: Preliminary thoughts on design, unit mix, and feasibility to achieve the twin-tower vision.
4. Proposed JV Model: A preliminary framework for the sharing ratio and partnership structure.

Critical Due Diligence First Steps:

- Title Verification: Confirm the LASG C of O at the Lagos State Lands Bureau.
- Comprehensive Site & Feasibility Study: Conduct topographic surveys, geotechnical investigations, and traffic impact assessments specific to a 15-floor development.
- Engage Professional Counsel: Secure a top-tier real estate lawyer to structure the JV agreement.

Ideal Partner Profile:

- Established Real Estate Development Firm with luxury high-rise experience.
- Institutional Investor or Fund with a real estate development arm.
- A consortium with strong technical and financial backing.

A definitive opportunity to partner on a legacy-defining project in the most exclusive neighborhood in Lagos.