On Monday the 1st of November 2021 was not a good day for residents of Lagos, particularly Ikoyi. The report of a collapsed 21-story building ravaged every headline as bodies were trapped and a few rescued. Many unconfirmed stories have surrounded the incident regarding the cause, the contractors involved, project owner and so on, but here are some findings we have made and can reveal to you about what went down behind the collapse.
Who were the parties involved?
The proposed Gerrard Terraces is a project for Fourscore Heights Limited with one Mr. Femi Osibona as its principal, the project was initially being handled by Prowess Engineering Limited until it pulled out of the project in February 2020.
Fourscore Heights formerly known as 360 Degrees, is a residential project including three pinnacles of differing statures, where the most elevated was up to seventeen stories. It is situated on Gerrard Road, in the core of Ikoyi, Lagos. The development of this project can be said to have started in 2019.
Details of the proposed Gerrard Terraces
The development comprises 400sqm marionettes on three floors, 600sqm – 800sqm penthouses, and 400 sqm four-bedroom flats.
DEVELOPER;
Fourscore Homes Limited | View Key decision-makers
MAIN CONTRACTOR;
Fourscore Homes Limited
MEP ENGINEER;
Dedge Global Services
STRUCTURAL ENGINEERS;
Prowess Engineering Limited
PROJECT MANAGER;
Fourscore Homes Limited
According to Highbrow Living Magazine, the property, consisting of four-bedroom marionettes, flats, duplex, and penthouses, was 65 percent sold out. “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,” the magazine reads.
Other planned features of the “luxury in the sky” building include an open recreation area with outdoor television, a gym, and a 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.
Why did Prowess Engineering pull out from the project?
Prowess Engineering Limited, the organization that started the development of the Gerrard terrace building which fell in Ikoyi, Lagos, pulled out from the project in February 2020.
A letter composed by Prowess Engineering Limited to Fourscore Heights Limited shows that the engineering company pulled out from the Gerrard Terraces project in February 2020, on grounds that it no longer shared a similar vision with its customer.
Prowess Engineering Limited said it can ensure the uprightness of the initial two structures it built for Fourscore Heights Limited, however, it could not ensure the integrity of the third structure (collapsed building) from anything over the fourth floor.
The letter Prowess Engineering Limited composed pulling out its services reads:
“This letter is to formally inform you of the withdraw of our structural consultancy service from the above-named project. We arrived at this decision due to the fact that we no longer share the same vision with you as our client in terms of how the project is being executed.
“We can guarantee the integrity of the first two buildings and also work done up to the fourth floor of the third building supervised by us provided specifications have been met in terms of the required concrete strength. This we do not have control over as we do not have the concrete cube test results of each stage of the building to date. Also, note that we are not taking responsibility for any other construction errors that may have occurred over time on the project.
Furthermore, we request 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.”
What else has been said?
*Following the collapse, the Lagos State Governor has ordered the indefinite suspension of the General Manager of the Lagos State Building Control Agency (LASBCA), Mr. Gbolahan Oki.
*Death toll climbs to nineteen, nine people have been rescued
*An internal panel of enquiry has been set up to look into the role of government officials in charge of implementing adherence to standards with respect to the collapsed property. It said members of the panel were drawn from the Nigerian Institute of Architects (NIA), Nigerian Institute of Town Planners (NITP), Nigerian Society of Engineers (NSE), and other relevant professional bodies.
*Families of victims and said investors in the collapsed project have reacted angrily to the incident as this has caused a great loss to both parties.
What this means for the real estate industry.
To understand how this incident will affect real estate in Lagos State, let us look at a very important statement from the Lagos State Government directed to property developers in the state. The statement reads;
“These tests, particularly the borehole acidic level, is important for the entire Gerrard Road and adjoining areas. We wish to state that there will be no cover-up in the search for the truth in this incident. If anybody is found to have been indicted, he or she will face the law. It is important to restate that all developers and property owners are required to adhere strictly to all Building Codes and Planning Regulations to ensure the safety of lives and property. Those who ignore such regulations, breaking seals and defying enforcement, will surely be prosecuted.”
The government has said it will embark on further foundation and borehole acidic level tests to ascertain the effect of the collapsed building.
Interestingly, this means good news for customers looking to buy properties in Lagos. To a reasonable level, the quality of properties will now be assured, something we at BuyLetLive have made efforts to ascertain through proper scrutiny before allowing agents and developers to upload properties on our platform, this also extends to properties we look to sell. This move is very timely and important for the real estate sector in Lagos, considering what followed the Ikoyi incident barely 24 hours, as another building under construction collapsed in the neighboring area of Lekki.
Conclusion
As we all know that this is not the first time either residential or commercial properties would be collapsing in Lagos, the loss is becoming unbearable and should not happen in the first place. There is a need for home buyers’ money to fully serve its purpose. Extra care must be taken on all levels going forward to ascertain the durability of properties. Such a level of satisfaction is what we at BLL believe every client deserves when purchasing a new home, by adhering to all government regulations and doing due diligence on our part we strongly believe that properties on the BuyLetLive platform serve just the perfect fit of satisfaction, durability, and excellence.