24 Sep 2013

Home ownership, investment opportunity opens at Lekki Southern Villa


Poised to contribute its quota towards bridging the current housing deficit in the country and also provide affordable luxury investment for real estate investors and home seekers, Pennek Nigeria Limited is offering an excellent opportunity at the new Lekki Southern Villa located along the Lekki-Epe axis.

Situated in the serene neighbourhood of Awoyaya in Lekki, the estate, which sits on a large landmass of 20 acres, has as its neighbours Mayfair Gardens, Treasure Island, Sapphire Gardens and Beachwood Estate. Others include Greenspring School and Coscharis Motors.

Kennedy Nnadi, CEO, Pennek Nigeria Limited, told our reporter in a chat that the birth of the estate was in line with the company’s vision of providing affordable housing solutions to meet the rising demand of the growing middle class.

“We are aware of the desire of most young and upwardly mobile people to own affordable choice homes in the highbrow area of Lekki because of its proximity to the business hub of Victoria Island. This we aim to address on the estate’s delivery,” Nnadi said.

According to him, the estate is at its take-off phase with land clearing and perimeter fencing currently going on at the site, while construction will commence by December.

On delivery, the estate will come with different house-types and designs. The three-bedroom terrace duplex, which currently sells for N10 million on off-plan sales, will on delivery sell for about N15 million on outright sales, while the four-bedroom semi-detached duplex, which currently sells for N15 million on off-plan sales, will on delivery sell for about N20 million.

“Our four-bedroom detached duplex currently sells for N18.5 million during off-plan sales. However, on delivery it will cost about N23.5 million,” Nnadi said.

Facilities include serviced gated estate, good road network, efficient drainage system, street lights, 24-hour security camera surveillance, and beautiful flowering scape.

He also allayed fears over the swampy nature of the Lekki axis, saying, “The estate is located on a dry land and this is a plus when compared to other estates on this axis. This will also hasten the delivery time of the project.”

He further said the potency of gaining investment returns on properties on the estate was also realistic given the upward price movement on the axis.

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