Sixty-five percentage of the apartment in the collapsed 21-storey building that collapsed on Gerard Road, Ikoyi on Monday are already sold out, it has emerged.
On Monday, the uncompleted building collapsed with a yet-to-be-ascertained number of persons still trapped beneath the rubble.
Emergency responders were deployed to the scene and as of press time, four persons have been rescued while four others have lost their lives.
Read Also: Ikoyi: Four Dead, Four Rescued With At Least 50 Others Trapped Under Collapsed 21-Storey Building
Here is what we know about the luxury structure:
The structure was designed as a three-tower estate (360° Degree Towers). The collapsed section is one of the three towers.
The main contractor for the project, FourScore Homes, is owned by Femi Osibona, a UK-trained estate developer.
According to Highbrow Living Magazine, the property, consisting of four-bedroom maisonettes, flats, duplex and penthouses, was 65 percent sold out.
Read Also: Ikoyi Building Collapse: Sanwo Olu Calls For Calm, Orders Probe
The magazine reads;
The 20-floor strictly residential facility is the brain works of Fourscore Homes, evolving from a desire to build an original masterpiece. The concept is to have service flats in the three towers for residents to experience a stress-free lifestyle, complete with a hotel flair with a 360-degree view of Lagos state.
Other planned features of the “luxury in the sky” building include open recreation area with outdoor television, gym, and swimming pool.
The structure was said to be 80 percent completed and was billed to be concluded in 2022.
The price range for the apartment is said to be between $1.2 million and $5 million.
In an interview with THISDAY, Osibona said the project was supposed to be the first of its kind in Nigeria.
“This development will give peace of mind and comfort to the residents, because everything works,” he said.
Osibona expressed;
We have exhibited our expertise in property development in the United Kingdom, South Africa, the United States of America and Nigeria. Fourscore Homes possesses uncommon capabilities in redefining property development in any market we choose to play in.
I was one of the people whose real estate developments led to the growth of East London. I bought a house on New Cross Road and renovated it. I also bought a piece of land behind it and built two flats there, and that is what I will call my first real estate project. That was how I started building houses for sale.
Meanwhile, managing director of Prowess Engineering Limited, Muritala Oluwole in a February 2020 letter withdraw their services from the construction.
The letter reads;
This letter is to formally inform you of of the withdrawal of our structural beraultance service from the above named project. We arrived at this decision due to the fact that we no longer share same vision with you as our client in terms of how the project is being executed.
We can guarantee the integrity of the fist two building and also works done up to the fourth floor of the third building supervised by the provided specifications met in terms of the repaired concrete strength. This we do not have control over as we do not have the concrete cube test results for each stage of the building till date. Also, kindly note that we are not taking responsibilities for any other construction errors that may have occurred over time on the project.
Furthermore, we requested that our company’s name and logo be removed from the project board and also kindly notify all necessary approving authorities of our withdrawal from the project.
We regret this decision and the lost opportunity to do business together. We look forward to future cooperation in other projects.
Then in July 2020, the building was sealed by the State government for lack of “approvals from required quarters”.
Read Also: Collapsed Ikoyi Building Was Sealed By Governor Sanwo-Olu In 2020 For “Lack Of Approvals”
The Capital had reported that Sanwo-Olu sealed the Gerard, Ikoyi high-rise as findings showed that;
Lagos State Government is miffed with the property developers and owners for embarking on such a project without subjecting it to procedural approvals from the state government and other authorities vested with the mandate to ensure compliance with standards and quality. In other words, the massive project has been sealed for lack of approvals from required quarters, as Lagos State Government has risen stoutly and promptly to halt the gargantuan project.
Meanwhile, according to an Instagram post by Dele Momodu, publisher of Ovation Magazine, Abdulrosheed Akanbi, the Oluwo of Iwo, visited the building on October 9, 2021.
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