Lekki Phase 1; Top 5 Reasons You Should Buy A House There!

An-overview-of-Lekki-Phase-1

Lekki Phase 1 has seen a surge in its demand in recent times. The majority of its residents are diaspora returnees who prefer neighbourhoods that share the affluence of Victoria Island and Ikoyi but at a more affordable rate.

In this article, we’ll be reviewing Lekki Phase 1, why it is considered a prime location, and 5 reasons you should buy or rent a house there today!

An Overview Of Lekki Phase 1

Lekki Phase 1 is an affluent neighbourhood in Lagos Nigeria. It is home to wealthy individuals, some of whom are famous artists, politicians, business executives, and a relatively large expatriate community.

Generally, living in this neighbourhood is associated with wealth and high social status.

Lekki Phase 1 is located in Eti-Osa Local Government Area of Lagos state.

Formerly known as Maroko town, a swampy slum but now regarded as an area with one of the most expensive real estate assets in Nigeria.

Location 

Close to V.I. and Ikoyi districts that house the Eko Atlantic City and Banana island respectively, two major affluent areas in Nigeria with the most expensive real estate assets.

Demand 

Lekki Phase 1 has a high demand for residential and commercial properties. Usually, families looking for an upscale residence, Employees with jobs in V.I., and Ikoyi who desire a more affordable house price and easy commute to work. And businesses that want a prime location. 

Security 

Lekki Phase 1 is considered one of the safest places in Lagos. Most estates in Lekki Phase 1 are serviced with uniformed security manning the gates. Entry into the estates is restricted till you are cleared by your host.

Infrastructure

LEKKI-PHASE-1-INFRASTRUCTURE

1. Road Network 

Lekki Phase 1 has good road networks within and outside estates in the neighbourhood. The roads have wide lanes and are well-tarred with timely traffic lights.  

2. Electricity 

Serviced estates have central generators and their power supply is 24/7. They also rely on EKDC which is fairly constant. Some private residents use their private generators to power up their houses.

3. Flood Zone/ Drainage

Flooding is a major unpleasantness that plagues parts of the island. Fortunately. Lekki Phase 1 is a well-planned and well-maintained neighbourhood.

It has standard-width drainage channels on both sides of the roads and a large canal that connect to the lagoon. Only in rare cases of continuous rainfall or ocean surge does it get flooded.

A standard sewage disposal system in the various estates along with water treatment and a lovely landscape.

4. Lekki To Victoria Island (V.I)

5 minutes drive to V.I and Ikoyi districts. For those looking to avoid the toll gate, there is an alternate route that passes through Oniru. Although this route usually has more traffic and the roads are narrow.

Advantages Of Living Here 

  • Economic opportunities 
  • Best place to raise children because it gives a better opportunity to form healthy relations with children of the rich.
  • Nearness to good infrastructure and amenities
  • Residents are Upper-Class High-Income Families.
  • High Property Appreciation.

Lekki Traffic Advice

To get precise directions and traffic information from anywhere in Lagos to Lekki Phase 1, simply CLICK HERE.

Except for intermittent traffic at the toll gates or along the main Admiralty route in Lekki Phase 1, there is little traffic travelling to Victoria Island or Ikoyi from Lekki Phase 1.

It takes roughly 5 minutes to get from Lekki Phase 1 to Victoria Island or Ikoyi. If you don’t want to pay the toll, there is an alternate route that goes through Oniru, albeit this route normally has more traffic because the road is narrow in some places.

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The Lekki-Ikoyi link bridge has made it easier to get to Ikoyi from Lekki Phase 1.

Because conventional commercial buses are banned in the area, Lekki Phase 1 has its own shuttle buses for travel within the scheme. Motorcycles are only permitted on major roads.

Power and Water Supply

EKDC is responsible for supplying electricity. Personal generators and inverters are used by residents. Central generators are installed in some estates in Lekki Phase 1.

Water Supply – The water in the neighbourhood has been purified.

Waste Management & Environmental Beauty

The majority of Lekki phase 1 neighbourhoods are neatly manicured with trees and flowers. The Lagos State Waste Management Authority is in charge of waste management (LAWMA).

The region is normally clean, though there are occasional heaps of dirt when LAWMA is late picking up trash in the area.

Notable Landmarks In Lekki Phase 1 

Lekki-Phase-1
Lekki Peninsula Scheme 1 Entrance After The #EndSARS protest of October 2020

1. Elegushi Beach 

Perfect spot for picnics, parties, or social gatherings. A private beach owned by the Oba Elegushi Royal Family. You can enjoy horseback riding, quad bike rides, local cuisine, and a view of the ocean.

Oh, did I mention the ‘Ferris wheels’ all over the beach? The mechanical contraptions were pulled into motion by strong men. They don’t exist on the posh beaches, and kids love them!

I recommend that if you’re going with kids or you don’t want the rush, you go in the morning and leave by 2 pm when it gets very busy.

Also, you can take your food and drinks with you. Be prepared to pay for entry or seating so make sure you have smaller denomination notes.

2. The Lekki Conservation Center

Nature lovers, tourists, artists, and photographers can have a field day here! A biodiversity conservation that hosts the longest canopy walkway in Africa.

You can enjoy activities like bird watching, picnics, and peaceful walks around nature in its bloom. It has Hiking trails, a tree house, a games area, picnic areas, and stepping stones to cross waterways. 

You’re sure to have an eye feast of exotic birds, colourful fishes, and tropical wildlife most of which are endangered.

Examples seen in this nature reserve are Mona Monkeys, crocodiles, mongoose, bushbucks, chameleons, and hogs. Park Rangers serve as guides and it’s open to the public but attracts a gate fee.

3. Museums 

Contemporary art enthusiasts would love this! Nike art gallery displays a large collection of contemporary art from around the world.

Nike Art Gallery is Nigeria’s leading art gallery. The gallery is owned by the renowned Chief Nike Davies Okundaye

The Lagos gallery is located at 2 Elegushi Beach Road in Lekki. This four-story gallery comprises an art gallery and textile museum featuring over 7,000 pieces.

On-site is also home to a coffee shop.  Exhibitions are held occasionally and Artworks of established and new artists are sold. These include Sculptures, Paintings, Woodwork, and Statues.

Entry is free and open to the public.

A wide display of awe-inspiring artworks. Most of which are contemporary artworks. Their beautiful art pieces are at affordable prices.

iii. Mindscape Children’s Museum 

A fun area for kids to connect and get on par with their creative side. Some fun activities include sipping and painting. 

Highlights Of Lekki Phase 1

Lekki-Phase-1-Top-5-Reasons-You-Should-Buy-A-House-There

1. Parks And Sports Centers 

Rufus and Bee 

An all-in-one games arcade in the Twin Waters building, Lekki Phase 1. Rufus and Bee gives the ultimate gaming experience with over 100 exciting games.

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Enjoy Snooker Games, Contemporary Dance Revolutions, a Sports Bar, Bowling Lanes, Virtual Car Races, and an American Tex-Mex Restaurant. Perfect for kids, Adults, families, and Corporate teams.

Fun Factory

The fun factory is an amusement park. It has a sports facility and an array of fun activities for kids 

Upbeat Recreational Park 

Africa’s first trampoline park. They have outdoor and indoor sports options.

Funturf 

A perfect turf for soccer games 

Bics Garden Boat Club 

Enjoy a relaxing sporting experience on land and water.

Pitch and Court Leisure Facility 

They boast of an ultramodern 5G ‘soil based’ wholly rubber crumb AstroTurf soccer pitch, a 3-on-3 basketball court, and a beach volleyball court.

2. Restaurants 

Lekki Phase 1 has its fair share of exotic restaurants and chic cocktail bars.

  • Sailors Lounge 

This luxury lounge gives you a perfect view of the ocean. with its floating bar, the first in Nigeria. An upscale lounge that serves an array of exotic cocktails, vegan options, and seafood dishes. (filet salmon, prawns, and fish steak). Their Thursday comedy night is sure to attract the creme de la creme of society looking to unwind.

  • Places like Primi Piatti, and 788 On The Sea. Upscale restaurants that serve fine Italian wine and dishes with a perfect view of the Atlantic ocean.
  • Sushiholic × Bbqholic serves Japanese cuisines. Sushi, sashimi, grills, and vegetarian-friendly dishes. 
  • Blackbell has the ambiance and continental dining options to pick from.
  • At Spicy bay, you get the best of Nigerian cuisine and it’s children-friendly too.
  • If you enjoy Chinese seafood, you have to visit Quid by de brit and Chai Tang. They serve amazing Chinese seafood with a great view of the Atlantic Ocean.
  • Dominos Pizza has a variety of pizza recipes that serve as comfort food.

3. SPAs 

Lekki Phase 1 is known for its spas. You get treated to traditional Japanese herbal treatments, Halawa, facials, massages, Ayurvedic massages, hot stones massage, and deep tissue work.

Some Spas in Lekki Phase 1 are: Mai Spa, YB Cocoon Day Spa, SDB Spa, Tirta Ayu Spa, Oasis Med Spa, and Da Vogue Spa.

4. Health Centers 

Due to the caliber of people living within the area, standard hospitals are a common sight. Some prominent ones include: Britannia Hospital, Georges Memorial Medical Centre, Vedic Lifecare Hospital, Georges Memorial Medical Centre, Callens Dental Clinic, Johnson Gibbs and Co Physical Therapists, and Medison Specialist Women Hospital.

5. Banks 

Every notable bank in Nigeria has a branch in Lekki Phase 1.

Prominent Schools

Lekki Phase 1 has some of the top schools in Nigeria with international standards to compete on the world stage. Prominent Schools within the area are: 

  • Lekki British School 
  • American international school of Lagos 
  • Chrisland school 
  • Italian International School 
  • Whitesands School 
  • Russell International School

Admiralty Way

The most popular road in Lekki Phase 1 and the longest. It links most parts of Lekki Phase 1. The entrance is known as the Lekki bus stop, at the first roundabout along the Lekki Epe expressway.

This street hosts some of the biggest investments. Examples include Prince Ebeano Supermarket.

Freedom Way

It is at the end of Admiralty Way and leads to the 3rd round-about Lekki-Epe expressway (Ikate bus stop). Popular biz here

Adewunmi Adebimpe Drive 

Popularly known as Maruwa bus stop. It is located at the second roundabout.

Most of its streets link to several areas of Lekki Phase 1. At the end of the drive is a T-junction. Going right leads to the Lekki central mosque and the 3rd round (Ikate).

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Going left leads to Dowen College Lekki and Admiralty Way. You can maneuver major traffic on the Lekki-Epe expressway by going through this route. Mobolaji Johnson place.

Other popular streets in Lekki Phase 1 are: 

  • Allen Avenue 
  • Awolowo way 
  • Durosimi Etti 
  • Fola Osibo 
  • Omorinre Johnson

Real Estate 

Real-Estate

Neighbors / Who Should Live Here 

High-income earners due to their high property value, price, and demand. The neighbors consist of socialites and high-society individuals.

Property Appreciation 

Lekki Phase 1 is known for its luxury houses. The properties haven’t reached their peak price and appreciation in this location is consistent.

There is a mix of commercial and residential developments. There are several upscale residential estates to cater to the high demand for houses.

These estates cater to families while some have a higher number of singles living within. Most of the estates are serviced with a 24/7 power supply.

Estates In Lekki Phase 1 

Treasure gardens estate is an exclusive and well-maintained estate developed by UPDC plc. A renowned real estate company with other developments in the area.

  • Honeyville 2 
  • Gerald Court 
  • Jam 2 
  • Osbourne Foreshore Estate

Pinnock Beach Estate is situated on 3 hectares of land. The estate is serviced with 24/7 light, treated water, street lights, good roads, and security. The house was sectioned into the following 

  • 11 Units of 5 Bedroom Detached Duplex with BQ
  • 24 Units of 4 Bedroom Semi-Detached Duplex with BQ 
  • 42 Units of 3 Bedroom Apartments with BQ 
  • 2 Units of 4 Bedroom Maisonette with BQ
  • The title of the property is C of O issued by LASG 

How Wise Is It To Buy Or Rent In Lekki Phase 1?

Renting or buying a house in Lekki Phase 1 depends wholly on your budget and how long you plan to live there. The price of the houses depends on:

  • The Size of the house
  • Facilities of the house 
  • New or Old House 
  • Smart Features 
  • Cinemas 
  • Pools 
  • Automated System etc.

House Prices Review In Lekki Phase 1 

  • 4 Bedroom Apartment for Rent in Lekki Phase 1 range between N7 Million to N10 Million. 
  • 3 Bedroom Apartment for Rent in Lekki Phase 1 range between 5.5 Million to 8 Million. 
  • 2 Bedroom Apartment for Rent in Lekki Phase 1 range between a 2.5Million to 4 Million. 
  • 4 Bedroom Terraced Duplexes for rent range between 6.5 Million to 11 Million. 
  • 4 Bedroom Semi-Detached Duplexes for Rent range between 13 Million to 16 Million. 
  • 5 Bedroom Fully Detached Duplex for Rent ranges between 18 Million to 25 Million.
  • 5 Bedroom Duplexes for Sale range from N310 Million to N950 Million (N345 Million-$460k).
  • 4 Bedroom Duplex for Sale in Lekki Phase 1 ranges from N200 Million to N580 Million. 
  • 3 Bedroom Apartments for Sale in Lekki Phase 1 range from 65 Million to N95 Million. 
  • 4 Bedroom Apartment for Sale in Lekki Phase 1 range from N75 Million to N150 Million. 
  • 4 Bedroom Terrace Duplex for Sale in Lekki Phase 1 is N130 Million to N260 Million.

What To Look Out For

  • Potential flood areas
  • Housing defects 
  • Scams 

Lekki Phase 1 remains a prime destination for anyone looking to live in an upscale neighborhood with all the fun activities to keep you busy.

Final Thoughts

Real estate in Nigeria is broad with its many trends and information constantly being updated daily. If you desire to stay updated about everything Real Estate in Nigeria, Realty Nub is your number-one go-to real estate blog. 

Here at Realty Nub, We give you up-to-date articles that are well-researched to guide you on your Real estate journey.

With this, you can create an effective strategy for real estate investing