Residential land joint venture
Plots A & B, Zone 31, Gerrard Road (residential Zone), Ikoyi, Lagos, Ikoyi, Lagos
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 lag...
More details
₦22,141,000,000
Ac Valour International
08036503218