IKEJA’S STATUS BOOSTING REAL ESTATE
More real estate investors are drifting to Ikeja, Lagos as property owners run to the bank on daily basis
By Ranti Adedeji
A set of premium properties are currently in the market and offering real estate investors an enormous return on investment. This is due mainly to the prime location in the heart of Ikeja, the hub of all commercial activities in the state.
The properties, which are already attracting stiff competitions among top real estate bidders, are located all on land measuring 2,422.18 square yards (2,213.7 square metres) on Babalola Close, off Awolowo Way, Ikeja are as follows:
- 1-Number 6-Bedroom Fully-detached Duplex. Price N100 million
- 1-Number 3-Bedroom Fully-detached Duplex with one-bedroom Boy’s Quarters. Price N60 million
- 1-Number 4-Bedroom Fully-detached Duplex. Price N55 million
- 3-Numbers of 4-Bedroom Terrace Apartments. Price N50 million each
Babaola Close, which is directly behind Awolowo House, opposite Africa’s leading ICT market, the Ikeja Computer Village; has since become a beehive of activities for prospective property owners who wants to take advantage of investing in the properties, either for residential or commercial purposes.
Interestingly, not only these properties are enjoying such a high demand, but other properties located within the Ikeja, the capital of Lagos State. Ikeja is a well- planned, clean, quiet residential and commercial nerve centre with shopping malls, pharmacies and similar high-brow commercial activities.
The Murtala Mohammed International Airport is located in Ikeja. Ikeja is also home to the Femi Kuti’s Africa Shrine and Lagbaja’s Motherlan’; both venues for live music. It now boasts of a shopping mall, Ikeja City Mall, which is the largest mall in the Lagos Mainland.
Apart from the government reservation areas, there are quite a number of top-of-the-range residential states located within Ikeja, some of which are Shonibare Estate; Marwa Gardens, Cornerstone, Maryland Estate, Magodo, Omole residential schemes.
Ikeja, which is an acronym derived from Ikorodu and Epe Joint Administration, then an administrative unit of the colonial era, has interesting and popular spots like the Ikeja City Mall, a one-stop place of continuous fun; and the popular Allen Avenue, which is famous for its bustling social and commercial activities.
One of the main attractions to Ikeja is security. Being the seat of the power in Lagos State, Ikeja enjoys a relatively high security network for both life and properties. Besides, transportation within Ikeja is a lot better compared to other parts of the state. This is due to a lot of planning being focused on the city and with the building of the new Ikeja Bus Terminal and introduction of Metro Bus Stations. In addition, commuters have the options of using Uber, Taxify and other private taxi platforms.
Properties within Ikeja have continued to yield high revenue over the years, both in rental value and in capital gains. Rent is what the property owner gets from someone who uses the property over a period of time while capital gains are the difference in the value of the property now compared to when you bought it. Investors are guaranteed 20% value appreciation for rent within 3 years and 25% capital gains within a year.
For example, the rent for a brand new 4 bedroom duplex with a room Boy’s Quarter inside an estate off Adeniyi Jones, Ikeja all the rooms are en suit with guest toilet and pop. Well fixed kitchen cabinet, quality tiles on the floor with ample parking space is ₦3.5 million per annum.
The rent for a newly-built five bedroom duplex at Ayo Rosiji Crescent, Ikeja GRA, Ikeja, with a room Boy’s Quarter with jacuzzi, marble floors, P.O.P, CCTV, kitchen cabinet and security doors is ₦4 million per annum.
Newly Built 6 Units of 3 Bedroom Flats all rooms en-suite with Boy’s Quarter at Community Road, Off Allen Avenue Ikeja is offered for rent at N2.5 million per flat annually.
Do you have interest in any of the properties mentioned here or wants properties in Ikeja, Ranti Adedeji would be willing to provide you with adequate information and every assistance you need.
Contact him on 08137843401 or 08023673113