In our previous article, we properly discussed what makes a development to be called a luxury development. We further highlighted five major differentiators between luxury, deluxe, and ultra-luxury developments, properly stating how they each differed from each other though closely put together on the grade spectrum. 

In this article, we will look at the luxury market in Lekki Phase 1 based on the data we are currently tracking and answer the question of if there are luxury developments in the area.

 

Are there luxury properties in Lekki Phase 1?

According to the data tracked by Estate Intel, out of the total residential stock of 5,515 units in Lekki Phase 1, deluxe developments make up 75.4% of the total stock, thereby making it the most common grade in Lekki Phase 1. There are no ultra-luxury developments in Lekki Phase 1, however, 4.8% of the total stock are luxury residential developments. 

On the other hand, when compared to Ikoyi’s breakdown, we found that 58.4% of the residential developments in Ikoyi are deluxe, 26.2% are luxury, and 6.2% are ultra-luxury. This difference is majorly so because of the difference in location and Grade of Contractors used between Lekki Phase 1 and very-prime areas like Ikoyi.

Below, we have pulled out three(3) luxury properties in Lekki Phase 1 that we are tracking at estate intel. We highlight these different projects, their developers, the project team members, the number of units, facilities/amenities in the project, and the sale prices of available units, and mark each characteristic of a luxury property against it.

 

1. 7 Centrale Residences

• • Developer – BlueSquare Limited
  • Status – Under Construction
  • No of Units –  24 Units
  • Completion Date – Q1:2024
  • Main Contractor – Migliore Construczione & Tecniche (MC&T)
  • Structural Engineer – Civil ACME
  • Architect – Aerial Consults
  • Structural Consultant – Primmotif Consulting Limited
  • Mechanical and Electrical Contractor – Mashbol Integrated
  • Mechanical Sub-Contractor – OM Partnership Ltd
  • Electrical Sub-Contractor – DE EMESCO Engineering Ltd

7 Centrale Residences is a residential development located on Durosinmi Etti Drive, Lekki Phase 1. This road is connected to Admiralty Way and Hakeem Dickson Road on both ends, notable commercial roads in Lekki Phase 1. 

This makes the development easily accessible and close to commercial and retail developments. Other areas like Ikoyi and Oniru areas are also easily accessible from this area. Therefore, in terms of location as a characteristic of luxury properties, it is in a prime area. Once completed, the development will feature 24 Units of 1, 2, and 3-bedroom apartments, and penthouses on 7 floors (edited). 

 

The sizes of these apartments are listed out below: 

• 101 sqm for a 1-bedroom apartment
• 150 sqm for a 2-bedroom apartment, and
• 250 sqm for a 3-bedroom apartment.

The size of the 3-bedroom apartment is above 200 sqm, which is more than the threshold of luxury apartments we have defined in the standards above. The floor-to-ceiling height is 2.85 meters, which falls within the luxury developments standard.

In terms of the finishing, the exterior wall is a mix of screeding and paint, the kitchen and bathroom are a mix of paint and tiles, while other floors have vitrified porcelain tiles. The exterior side view of the building has foliage interspersed with laser-cut grills, thereby guaranteeing the rooms of fresh oxygen through its floor-to-ceiling French windows. Also, both the sanitary and kitchen fittings are imported. 

The main contractor of this project, Migliore Construczione & Tecniche (MC&T) is a Grade B Contractor with years of experience in main contracting services. The team has carried out high-value projects including Kwara State Internal Revenue Service HQ by Kwara State Internal Revenue Service, Kogi House by Kaibo Engineering group holdings Ltd., and M120 Apartments by Minimalist and Co.

According to the developers, there would be a separate facility management team, with a dedicated facility management office on the ground floor. 

Currently, the 2-bedroom penthouse in this development is available for sale and these are selling at N 155 million/unit – edited

Facilities and amenities to be provided in the building include: 

• Exceptional Architecture
• Elegant Finishes
• Sweeping street views
• Beautiful lighting fixtures
• Spacious apartments
• Swimming pool
• Fully fitted gym
• 24/7 electric power supply
• Lounge/Clubhouse
• 24/7 Concierge Services
• Gorgeous walk-in closet
• Bathrooms with faucet, tub, and walk-in shower with rain head

 

2. Oxygen Apartments 

• Developer – CZar Projects
• No of Units –  52 Units
• Status – Completed
• Completion Date – Q4:2021
• Main Contractor – Al-Mansour Contracting Construction Limited
• MEP Engineer – Swampsea Construction Nigeria

Oxygen Apartments is a multi-residential development located in Periwinkle Lifestyle Estate at the end of Freedom Way, Lekki Phase 1. This planned estate is in the Lagoon district of Lekki Phase 1 and has views of the Lagos Lagoon. It’s location and 10-floor height give premium views of the Lagos Lagoon. Similar to 7 Centrale Residences, this is a prime location – not as prime as Ikoyi also but is central when compared to farther areas like Ajah. In terms of closeness to amenities, it also ticks the box of being in an area that has several commercial, retail, and several other diverse sectors of development, thereby serving as a major entertainment spot for residents.

The development was completed in Q4:2021 and features 52 Units of 1, 2, and 3-bedroom apartments, and 4-bedroom maisonettes. The sizes of these apartments are as follows:

• 101sqm for a 1-bedroom apartment
• 137 sqm for a 2-bedroom apartment
• 218 sqm for a 3-bedroom apartment, and 
• 359 sqm for a 4-bedroom maisonette 

The size of the 3-bedroom apartment is above 200 sqm, which is more than the threshold of luxury apartments we have defined in the standards above. 

 

The main contractor of this project, Al-Mansour Contracting Construction Limited is a Grade B Contractor with years of experience in main contracting services. The team has carried out high-value projects including Riverside Apartments by Foreshore Waters Limited, Madina Tower by Madina Development Limited, and Insignia by Foreshore Waters Limited. Currently, all units in the Oxygen Apartments are sold out while facilities and amenities being provided in the building include:

• 24-hour power supply
• 24-hour security
• Sewage Treatment
• Efficient lighting
• Adequate Parking spaces
• Fibre Optics
• CCTV
• Swimming Pool.

 

 

3. Chateau D’Avenue

• Developer – Periwinkle Residences Limited
• No of Units – 60 Units
• Status – Under Construction
• Completion Date – Q4:2024
• Main Contractor – Al-Mansour Contracting Construction Limited

Chateau D’Avenue is a residential development located in Periwinkle Lifestyle Estate at the end of Freedom Way, Lekki Phase 1. This planned estate is in the Lagoon district of Lekki Phase 1 and has views of the Lagos Lagoon. Like Oxygen Apartments, this is a prime location, and is accessible via notable commercial roads such as Freedom Way and Admiralty Way in Lekki Phase 1, with numerous commercial and retail developments.

The development will feature 5 blocks of apartments consisting of 60 Units of 1, 2, and 3-bedroom across 6 floors. Sizes of these units range from 65sqm-81sqm for a one-bedroom apartment up to 205 sqm for a 3-bedroom apartment with a BQ. The details are shown below:

• 65sqm – 81 sqm for a 1-bedroom apartment
• 169 sqm for a 2-bedroom apartment
• 205 sqm for a 3-bedroom apartment with BQ

The size of the 3-bedroom apartment is above 200 sqm, which is more than the threshold of luxury apartments we have defined in the standards above. 

The main contractor of this project, Al-Mansour Contracting Construction Limited is a Grade B Contractor with years of experience in main contracting services. The team has carried out high-value projects including Riverside Apartments by Foreshore Waters Limited, Madina Tower by Madina Development Limited, and Insignia by Foreshore Waters Limited.

Currently, 1-bedroom apartments in this development are available for sale and these are selling at N 75 million/unit. Facilities and amenities to be provided in the building include: 

• 24-hour security
• 24-hour power supply
• Swimming pools
• dedicated elevator for residents
• CCTV
• Central Vaccum sewer system
• Fibre Optics
• Heat & Smoke detector

 

Conclusion

As seen above, Lekki Phase 1 does have residential developments that are luxury grade. All of these luxury developments have Grade B Contractors, coupled with the obvious luxury fittings and furnishings and amenities, as well as large room sizes. When compared to Ikoyi though, the number is small. It should be noted that because of the high standard of luxury and ultra-luxury developments, they are not as plentiful in numbers as the other grades. This is the case in every area and not just Lekki Phase 1. This list is not limited to these properties alone as long as they meet up with the luxury development definition.    

We love your feedback! Let us know what you think about luxury developments in Lekki Phase 1 by sending an email to [email protected].