Bourdillon Road, Ikoyi, Lagos
₦700,000,000
| Property Ref: 3112557 | Added On: 24 Sep 2025 | Last Updated: 28 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 2,281 sqm |
Listing title
Ikoyi JointVenture ---
2,281 sqm
(54A Bourdillon Road, Old Ikoyi) ---
LASPPPA Approved HighRise Opportunity
Federal C of O
Overview
Highprofile jointventure opportunity in Old Ikoyi: a large paper landholding of 2,281 sqm at 54A Bourdillon Road with an Ownerbacked proposal for a LASPPPAapproved 17storey residential tower. The scheme envisages 26 x 4bedroom maisonettes and 6 penthouse flats. The Owner seeks a credible developer/partner to regularise title, fund and deliver the project under a mutually agreed profitshare arrangement. This is a rare Ikoyi land assembly with approved planning parameters --- attractive to toptier developers able to mobilise capital, contractor capacity and project governance quickly.
Key facts
- Location: 54A, Bourdillon Road, Old Ikoyi, Lagos
- Site area: 2,281 sqm (paper land/landed property on title)
- Proposed scheme: LASPPPAapproved 17storey residential building --- 26 x 4bed maisonettes + 6 penthouses (full concept/approval pack to be shown to shortlisted parties)
- Title: Federal Certificate of Occupancy (Federal C of O) --- developer will be responsible for title regularisation and any transfer formalities
- Land valuation guidance: 3,000,000 per sqm (indicative)
- Owner premium: 700,000,000 (to be recouped within the agreed sharing formula)
- Facilitator fee: 10% (RJV) --- payable as agreed; note mandatory facilitator fee letter requirement (see Premeeting conditions)
- Sharing / commercial terms: To be negotiated and agreed between owner and developer --- developer invited to submit commercial proposals
Why this opportunity is compelling
- Prime Old Ikoyi address with strong demand for highquality, secure residential product from wealthy owneroccupiers and corporate clients.
- LASPPPA approval for 17 storeys significantly derisks initial planning --- accelerates project timetable for partners able to move quickly.
- Large single parcel with a premium product mix (maisonettes + penthouses) supports strong perunit pricing and attractive GDV for the right developer.
- Owner prepared to negotiate sharing formula and absorb no upfront premium beyond the stated recoupment arrangement --- aligns incentives for developer and owner.
Owner requirements & preferred partner profile
The Owner seeks a developer / investor who can demonstrate:
- Proven track record delivering highrise residential projects in Lagos or equivalent markets (portfolio & references required).
- Confirmed financial capacity (proof of funds / bank reference / financing commitments).
- Willingness to regularise title and progress statutory/permitting obligations as required.
- Commitment to use one of the Owner's suggested contractors (or an equally reputable international contractor) --- or otherwise obtain Owner approval prior to engagement.
Suggested / approved contractors (owner preference)
- JULIUS BERGAR
- G CAPPER
- EL LAN
- Or any wellknown foreign construction company of equivalent standing
Premeeting & submission requirements (strict)
Prospective partners must submit the following ahead of any meeting:
1. Letter of Interest (LOI) on company letterhead describing proposed commercial approach (landforequity, profit share, buildandsell, or other).
2. Facilitator fee letter on investor/developer letterhead signed and confirming acceptance of a 10% facilitator fee (as stated). No meeting will take place without this signed acceptance.
3. Company profile, RC documents and evidence of relevant completed projects (photographs, contract values, client references).
4. Proof of funds or bank reference showing capacity to fund the proposed role or provide mobilization capital.
5. Highlevel term sheet or proposal outlining intended sharing ratio, developer fee, cost recovery waterfall and highlevel timeline.
Indicative commercial considerations (for developer financial model)
- Recoupment of owner premium: 700,000,000 to be included in the developer financial model and recovered per agreed waterfall prior to split of residual profits.
- Developer to provide detailed build cost estimates, predevelopment costs, sales pricing assumptions and proposed profitshare structure.
- Consider staging, presales and escrow structures to mitigate market and delivery risk.
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
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