Comprehensive Guide to Nicon Town Estate, Lekki.

Comprehensive Guide to Nicon Town Estate, Lekki: Full Details and Breakdown

Nicon Town Estate, located in Ikate, Lekki, Lagos, Nigeria, is an upscale, purely residential gated community renowned for its luxury, exclusivity, and high-quality infrastructure. Developed by the Chevron Employees Multipurpose Cooperative Society (CEMCS) on land vested by Nicon Insurance Corporation, this 57-hectare estate offers a serene environment, modern architecture, and top-tier amenities, making it a preferred choice for high-income individuals and expatriates. This article provides a detailed breakdown of Nicon Town Estate, covering its location, property types, pricing, infrastructure, amenities, and considerations for potential residents or investors.

Location and Accessibility

Nicon Town Estate is situated in Ikate, near the Salem bus stop, off the Lekki-Epe Expressway, close to the Chevron Nigeria Limited campus. Its strategic location in Lekki Phase 2 provides easy access to major commercial hubs, including Lekki Phase 1, Victoria Island (20-30 minutes during off-peak hours), and Ikoyi. The estate is near key landmarks such as the Lekki Conservation Centre (1.7 miles), Nike Art Gallery (7.8 miles), and shopping destinations like The Palms Shopping Mall and Circle Mall. The Lekki-Epe Expressway ensures excellent connectivity, though morning rush hour (6:00 AM–8:00 AM) can extend travel time to Victoria Island to 30-40 minutes. Ride-hailing services like Uber and Bolt are readily available, and the estate’s entrance is easily accessible via well-maintained tarred roads.

Property Types and Features

Nicon Town Estate spans 57 hectares, designed with over 400 plots (46 plots of 1,200 sqm, ~200 plots of 1,000 sqm, and the rest at 800 sqm). It offers a range of luxury properties, including detached and semi-detached duplexes, terrace duplexes, apartments, and land for development. Properties are equipped with modern, high-end features catering to affluent residents. Below is a breakdown of the main property types:

1. Detached and Semi-Detached Duplexes

  • Description: Spacious standalone or paired homes, typically featuring 4-7 bedrooms with boy’s quarters (BQ), ideal for large families or corporate tenants seeking luxury.
  • Features:
    • All rooms en-suite with walk-in closets, jacuzzis, and modern sanitary wares
    • Fully fitted kitchens with appliances (e.g., double-door refrigerators, ovens, microwaves)
    • Smart home automation, CCTV surveillance, Bluetooth speakers, and smoke detectors
    • High POP ceilings, Spanish porcelain tiles, chandeliers, and aesthetic lighting
    • Additional amenities like private cinemas, swimming pools, gyms, rooftop terraces, and soundproofing
    • Large compounds with parking for 4-8 cars, lock-up garages, and landscaped gardens
  • Examples:
    • 5-bedroom detached duplex with BQ, study room, and guest chalet on 1,000 sqm, priced at ₦950 million.
    • 6-bedroom detached house with BQ and pool on 1,200 sqm, priced at ₦1.3 billion.
    • 5-bedroom fully detached mansion with soundproofing, pool, gym, and cinema on 850 sqm, priced at ₦1.3 billion.

2. Terrace Duplexes

  • Description: Modern multi-unit residences with shared walls, offering luxury at a more accessible price point.
  • Features:
    • 3-4 bedrooms, often en-suite with fitted wardrobes
    • Fitted kitchens, aesthetic ceilings, and modern fixtures
    • Access to estate amenities like playgrounds and recreational areas
  • Examples:
    • 4-bedroom terrace duplex with BQ on 800 sqm, priced at ₦260 million.
    • 4-bedroom terrace duplex near Nicon Town, priced at ₦10 million per annum (rent).

3. Flats and Apartments

  • Description: Includes 1-3 bedroom flats and maisonettes, suitable for singles, professionals, or small families, often available for short-term or long-term rent.
  • Features:
    • Fully furnished options with air conditioning, flat-screen TVs, Netflix, and Wi-Fi
    • Modern kitchens with appliances (refrigerators, microwaves, washers/dryers)
    • Balconies, dining areas, and access to estate amenities
  • Examples:
    • 2-bedroom apartment near Nicon Town Estate, priced at ₦120 million (sale).
    • Mini-flat in Nicon Town, priced at ₦1.5 million per annum (rent).

4. Land

  • Description: Plots for custom home construction or residential development.
  • Features:
    • Sizes range from 800-1,200 sqm
    • Titles include Global Certificate of Occupancy (C of O) or Deed of Assignment
  • Examples:
    • 998.346 sqm bare land with Deed of Sublease, priced at ₦700 million.
    • 761 sqm plot at nearby Cowrie Creek Estate, priced at ₦680 million.

Pricing Breakdown

Property prices in Nicon Town Estate reflect its premium status, with variations based on size, features, and location within the estate. Below is a detailed pricing overview:

For Sale

  • Houses:
    • Average price: ₦700-950 million.
    • Cheapest: ₦25 million (likely for smaller properties or land).
    • Most expensive: ₦1.5 billion for luxury 6-7 bedroom mansions.
    • Specific examples:
      • 4-bedroom terrace duplex: ₦260 million.
      • 4-bedroom detached duplex: ₦250-420 million.
      • 5-bedroom detached duplex: ₦850 million-₦1 billion.
      • 6-bedroom detached house: ₦1.3 billion.
  • Land:
    • 761-1,200 sqm plots: ₦680-700 million.

For Rent

  • Houses:
    • 4-bedroom terrace duplex: ₦10 million per annum.
    • 5-bedroom detached duplex: ₦15-25 million per annum (2 years upfront).
  • Flats/Apartments:
    • Mini-flat: ₦1.5 million per annum.
    • 3-bedroom apartment: ₦6-10 million per annum.
  • Additional Fees (for rentals):
    • Agency fee: 10% of rent
    • Legal fee: 5-10% of rent
    • Caution deposit: ₦1-2 million
    • Service charge: ~₦300,000 per annum.

Infrastructure and Amenities

Nicon Town Estate is designed with excellent infrastructure, ensuring a high-quality living experience. Key features include:

  • Roads: All estate roads, including the main Lekki-Epe Expressway, central estate roads, and street roads, are tarred and in excellent condition.
  • Electricity: Residents enjoy ~18 hours of daily power supply via estate generators and EKDC connections, with many homes equipped with solar inverters or personal generators.
  • Water Supply: Boreholes and water treatment plants provide clean water, as there is no central water system.
  • Drainage: Well-designed drainage channels prevent flooding, even during heavy rains.
  • Security: 24/7 surveillance with CCTV cameras, vigilant security guards, and restricted entry ensure safety. The estate is known for its water-tight security, ideal for high-net-worth individuals.
  • Estate Amenities:
    • Children’s playground and recreational facilities
    • Clubhouse for community events
    • Well-maintained greenery and landscaping with mini-gardens in front of homes
    • Waste management handled by the central estate authority, ensuring cleanliness
    • High-speed internet via providers like MTN, Airtel, and Spectranet.
  • Nearby Attractions:
    • Lekki Conservation Centre (1.7 miles)
    • Elegushi Beach for relaxation
    • Nike Art Gallery for African art
    • Restaurants like Xovar Lounge, Rhapsody’s, Yin Yang Express, and The Place
    • Supermarkets like Spar, Prince Ebeano, Daytona, and Circle Mall
    • Hotels like Picadilly Suites, Nevada, Citilodge, and DMatel.

Notable Features of Nicon Town Estate

  • Exclusivity: A purely residential estate with no commercial activities (e.g., okadas or beer parlours), ensuring a serene and clean environment.
  • Luxury Architecture: Homes feature marble finishes, fitted kitchens, jacuzzis, private cinemas, pools, and soundproofing for ultimate comfort.
  • Community Atmosphere: Family-oriented with playgrounds and communal spaces, fostering a sense of community.
  • Investment Value: High demand and proximity to Lekki’s commercial hubs ensure strong resale and rental potential.
  • Development History: Facilitated by CEMCS, the estate was significantly completed in 2007, with plots sold to members and investors.

Considerations for Potential Residents or Investors

Pros

  • Prime Location: Proximity to Lekki-Epe Expressway, Chevron, and recreational hubs like Lekki Conservation Centre.
  • Luxury and Comfort: High-end properties with smart home features, pools, cinemas, and gyms.
  • Security: 24/7 surveillance and restricted access ensure safety for affluent residents.
  • Infrastructure: Excellent roads, drainage, and power supply enhance quality of life.
  • Investment Potential: High property appreciation due to Lekki’s growing real estate market.

Cons

  • High Costs: Average house prices range from ₦700-950 million, with rentals starting at ₦6 million per annum.
  • Traffic: Peak-hour congestion on Lekki-Epe Expressway can delay commutes.
  • Service Charges: Annual service fees (~₦300,000) and additional rental fees (agency, legal, caution) increase costs.
  • Limited Amenities Within Estate: No schools or hospitals within the estate, though nearby options are available.

Why Choose Nicon Town Estate?

Nicon Town Estate offers an unparalleled blend of luxury, security, and serenity in one of Lagos’ most prestigious neighborhoods. Its modern infrastructure, high-end properties, and proximity to business and leisure hubs make it ideal for affluent families, expatriates, and investors. The estate’s exclusivity, with no commercial activities, ensures a peaceful, family-friendly environment. For investors, the high demand and appreciation potential make it a lucrative opportunity. Whether you’re seeking a luxury home or a high-value investment, Nicon Town Estate delivers sophistication and comfort.

Contacting Agents and Viewing Properties

Numerous verified real estate agents list properties in Nicon Town Estate on platforms like Nigeria Property Centre, PropertyPro.ng, and PrivateProperty.ng. Sample contacts include:

  • Solomon Olaolu Consulting: 08023241774
  • Gloria Ogbebor & Associates: 08023188472
  • Safeguide Concepts: 07065776298
  • Heights Of Splendour Ltd: +2348129971339
  • Mcrich Consulting Limited: 08039426967
  • 1digital Agency: 08061330319

Contact agents via phone, WhatsApp, or email for inquiries or to schedule inspections. Some agents may charge a refundable inspection fee.

Conclusion

Nicon Town Estate, Lekki, is a premier residential destination offering luxury homes, top-tier infrastructure, and a secure, serene environment. Its strategic location, modern amenities, and exclusivity make it a top choice for high-income individuals and investors. While the high costs and occasional traffic challenges may be considerations, the estate’s benefits—luxury, security, and investment potential—outweigh these drawbacks. Explore listings and contact reputable agents to find your ideal property in this upscale, family-oriented neighborhood.

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