Bourdillon, Alexander and Gerrard are popular roads in Ikoyi, the most affluent neighbourhood in Lagos, named after colonial administrative officers in the country, This is a long stretch of road, that is considered to be one of the most prestigious not only in Nigeria but in Africa as a whole. The entire stretch which covers about 5.5km is home to the creme de la creme of the society, the long stretch accommodates the French embassy, Allianz Frances, Lagoon Hospital, The Deputy-Governor of Lagos State, National Army Headquarters Liaison Office, Federal Secretariat of Nigeria, the home of the former Lagos State Governor, Bola Tinubu and other top guns in the society like the Tony Ezenna of Orange drug, the stretch is also home to one of the most popular land Mark in Lagos, the prestigious Lekki-Ikoyi Link Bridge.
THE CHANGING NARRATIVE
A drive through the BAG stretch today clearly shows a huge difference and a significant clear departure from what the long stretch was before, housing typology a few decades ago were primarily detached houses with very spacious compounds, this stretch was occupied by the colonial administrators and the High Net worth families, Over time there has been a significant change not only in the housing typologies but also the skyline, BAG’s skyline looks starkly different than it did a few decades ago, adorned by a profusion of high rise residential apartments on and off the street. The scale of this new wave of high rises is unprecedented. The BAG stretch skyline has grown from just a single floor family dwelling to 25 floors of high-rise luxury apartments. Unlike other roads on the island with a handful of sizeable buildings towering over everything else, the whole of the BAG is rising up, each high rise like a blade of grass; undoubtedly the stretch has the highest concentration of Luxury residential high rises in Lagos.
HIGH RISE IS THE NEW NORM FOR THE B. A G STRETCH
From the Bourdillon road of the stretch down to the Gerrard Road end of the stretch, it is becoming increasingly difficult to keep up with the number of ultra-luxury residential high rises springing up, Notable high rises are the Prestigious No 4 Bourdillon, which is set to be the highest residential building in Ikoyi, Cuddle by Cadwell, Tango Towers, The Belmonte, The Vantage Bourdillon and the latest addition, No 39 Bourdilllion.
Other Luxury high rise apartments on the stretch are the Tango Towers, Mabadeje Plaza, Luxury Gardens, Titanium Towers, Trenchard Place Admiralty, Mason, Sis Paris among others, one thing is certain, the BAG’s skyline in the next few years will witness significantly change.
DOES THE CITY REGULATE BUILDING HEIGHTS?
Yes, Practically every inch of land in Lagos falls into a zone that determines what kind of building can go there. No doubt, high rises are clearly allowed on this stretch, Currently, No 4 is the tallest residential building on the stretch with 25 floors
FEATURES OF HIGH RISES ALONG THIS STRETCH
Because of their ultra-luxury taste, most of these high rises comes with an almost endless list of world-class amenities such as panoramic lifts, an international size tennis court; an adult swimming pool, children’s swimming pool; gym, a clubhouse; and globally competitive property features, Average 3 Bedroom apartment size is about 450sqm – 500Sqm and a deluxe penthouse on the average is about 800-900sqm
HOW MUCH DO THEY COST?
The price trend for high rises definitely correlates with height, unobstructed views and other distinct and unique property features, usually a typical 3 Bedroom apartment rental value is at an average of $100,000 per year depending on the characteristics of the high rise while penthouses can be sold for as high $4M Land prices Mainly a secondary market, most transactions are literally off-market sales, however, land prices on this stretch starts from N750,000/Sqm
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Text by : Ayotunde Olabode
Real Estate Analyst, CW Real Estate Lagos