By Kingsley Adegboye
Riding on the successful delivery of Lekki County Homes Estate, Lagos-based real estate development firm, Megamound Investment Limited, developers of Lekky County Homes, Lekki, and Carlton Gate Estate, Chevron Drive, Lekki, Lagos, has introduced yet another scheme known as County Apartments within Lekky County Homes, Ikota, along Lekki-Epe Expressway for prospective home owners or property investors.
Designed exclusively for those who desire a uniquely social living space, County Apartments sits within 16,000 square metres in Lekky County Homes Phase2, and comprises facilities such as uninterrupted power, sewage system, boreholes, drainage channels, recreational parks, club house, fast food outlets, shopping mall, schools, pharmacy and others.
The new scheme which will be sold off-plan, comprises 16 blocks consisting of 160 unit housing types. It comprises 32 units of one-bedroom apartments, 32 units of two-bedroom apartments and 96 units of three-bedroom apartments.
Speaking on the project at the weekend, Diagbonya Marian, Head, Sales, Megamound Investment Limited, said County Apartments is a great place to live the life prospective home owners have always dreamt about, pointing out that for investors, the project has an amazing return on investment that is hard to match anywhere around Lekki axis.
According to Marian, “Investing in County Apartments helps you secure a beautiful future in a secured serene environment with proper management, good infrastructure, basic amenities and capital value appreciation. With about 15 per cent annual capital appreciation in investment yields, Lekky County Homes Terrace Duplexes, which sold out at N10 million in 2010, now sells at a whopping N45 million.
“Based on this projection, County Apartments with its already developed neighbourhood within Lekky County Homes, is designed to yield even greater value in its first five years. Being off-plan, the current prices for the apartments are expected to shoot up by completion date of September 2019. Therefore, we can say the rental value of a three-bedroom terrace duplex within the estate is N2 million, one can safely project that the three-bedroom apartment will not go for less, considering that the apartments come with modern and exquisite finishing,” she said.
Explaining more on why investors should take advantage of the housing project, she said: “It may interest you to know that plots were sold at N35,000 per square metre in 2015 at the inception of phase 2, but within the 16,000 sqm where County Apartments is situated, as at today, the same plots are going for N80, 000 per square metre”
The head of sales who disclosed that her company has an arrangement with Omoluabi Mortgage Bank for those who want mortgage facility to finance their purchases, said 30 per cent of the cost of each unit of the apartments is required as down payment while the balance is spread over a period of time as agreed between parties.
According to her, while a three-bedroom apartment goes for N28 million, two-bedroom is N24 million and one-bedroom is sold for N11 million.