Friends Colony Estate Lekki (Breakdown + Price List)

Friends Colony Estate, Lekki: Full Details With Complete Breakdown + Price List

Overview

Friends Colony Estate, also known as Milverton Estate, is a fully serviced residential estate located in the Agungi/Osapa area of Lekki, Lagos, Nigeria. Developed by Aircom Nigeria Limited, the same developers behind Northern Foreshore Estate, Bourdillon Court, and Napier Gardens, it spans approximately 62 hectares and is renowned for its well-maintained infrastructure, 24-hour electricity, and secure environment. Positioned near the Lekki-Epe Expressway, Friends Colony Estate is ideal for high-income families and professionals seeking a serene, family-friendly community with proximity to Lagos’ business hubs like Victoria Island and Ikoyi.

Location and Accessibility

  • Location: Situated in Agungi/Osapa, Lekki, off Hon. Yaya Dosunmu Way, near Chevron Drive and the Lekki-Epe Expressway. Nearby landmarks include Novare Mall Shoprite, Lagos Business School, and Nike Art Gallery.
  • Accessibility:
    • Approximately 25–30 minutes to Victoria Island during off-peak hours and 45 minutes to 1.5 hours during rush hour (6:30 AM–8:00 AM).
    • The Lekki-Epe Expressway provides a well-tarred primary route, with estate roads being interlocked and well-maintained. External roads to Agungi/Osapa may experience occasional traffic congestion.
    • The estate’s main entrance is via Hon. Yaya Dosunmu Way, with an alternate access through Osapa.
  • Strategic Advantage: Proximity to the Lekki Free Trade Zone, Lekki Deep Sea Port, proposed Lekki Airport, and the Fourth Mainland Bridge enhances its investment appeal. Nearby estates include Victory Park, Femi Okunnu, and Cowrie Creek.

Infrastructure and Amenities

  • Gated Community: Features a single main entrance with 24/7 armed security, high-tech gadgets, CCTV surveillance, and intercoms connected to each house for visitor clearance. Car checks are conducted for enhanced safety.
  • Road Network: Fully interlocked roads with street lights and a central drainage system, ensuring a flood-free environment.
  • Utilities:
    • Electricity: 24-hour power supply via estate transformers and EKDC, with prepaid meters in most units. Residents rarely rely on personal generators.
    • Water Supply: Centralized water treatment plant with separate billing based on house size (average: ₦10,000/month for a detached house).
    • Waste Management: Included in service charges, with regular collection and estate-wide fumigation.
  • Recreational Facilities: Limited to green areas and children’s playgrounds; the estate prioritizes residential comfort over extensive amenities.
  • Service Charges:
    • Monthly service charge: ₦24,500, covering security, waste management, sanitation, fumigation, and street lights.
    • Additional fees (agency, legal, caution): 10% each of annual rent; caution fee varies (e.g., ₦500,000–₦700,000).
  • Nearby Amenities: Novare Mall Shoprite, The Circle Mall, Jakande Market, Piccadilly Suites, and schools like Greensprings and Corona (10–15 minutes’ drive).

Property Types and Features

  • Property Types: Detached and semi-detached duplexes, bungalows, flats (2–3 bedrooms), and penthouses. Most properties are older designs due to the estate’s age, with restrictions on modern renovations per the deed of restrictions.
  • Features:
    • Detached Duplexes (4–5 bedrooms):
      • All en-suite bedrooms with fitted wardrobes, spacious living areas, and boys’ quarters (BQ).
      • Fully fitted kitchens with appliances (hob, oven, extractor), guest toilets, and large compounds for 4–6 cars.
      • Features like state-of-the-art POP ceilings, home automation, and concrete stamp floors in select units.
    • Semi-Detached Duplexes (4 bedrooms):
      • Similar features to detached duplexes, with slightly smaller compounds.
      • Fitted kitchens, family lounges, and ample parking.
    • Flats (2–3 bedrooms):
      • En-suite rooms, fitted kitchens, and spacious sit-outs.
      • Bulletproof security doors and water treatment plants in newer units.
    • Penthouses (4 bedrooms):
      • Spacious living/dining areas, private balconies, and well-fitted kitchens.
      • Additional amenities like swimming pools and gyms in select units.
  • Title: Governor’s Consent or Certificate of Occupancy (C of O), ensuring secure ownership.

Price List

Note: Prices are based on recent listings for Friends Colony Estate from Nigeria Property Centre, PropertyPro Nigeria, and other sources, updated as of June 25, 2025. Prices vary based on property condition, size, and market trends.

For Sale

  • Houses:
    • 4-Bedroom Semi-Detached Duplex: ₦200,000,000 (e.g., Agungi, not brand new, needs upgrades).
    • 5-Bedroom Fully Detached Duplex: ₦200,000,000–₦250,000,000 (features like swimming pool, cinema, Governor’s Consent).
    • Average Price: ₦117,115,723 (range: ₦700,000–₦1,000,000,000 for Lekki properties).
  • Flats:
    • 3-Bedroom Apartment: ₦35,000,000 (brand new, Agungi near Friends Colony, Governor’s Consent).
    • Block of Flats (4 x 3-Bedroom Units): ₦150,000,000–₦200,000,000.
  • Penthouses:
    • 4-Bedroom Penthouse with BQ: ₦250,000,000 (includes swimming pool, gym).
  • Land:
    • 600 sqm Plot: ₦60,000,000–₦80,000,000 (comparable plots in Agungi/Osapa).

For Rent

  • Houses:
    • 4-Bedroom Semi-Detached Duplex: ₦5,000,000–₦6,000,000 per annum (service charge: ₦294,000/year; agency/legal: 10% each; caution: ₦500,000–₦700,000).
    • 5-Bedroom Detached Duplex: ₦10,000,000–₦15,000,000 per annum (service charge: ₦294,000/year; agency/legal: 10% each; caution: ₦700,000).
    • Total Package Example (4-Bedroom): Rent (₦6,000,000) + Service Charge (₦294,000) + Agency (₦600,000) + Legal (₦600,000) + Caution (₦700,000) = ₦8,194,000 first-year total.
    • Average Rental Price: ₦15,000,000 per annum (range: ₦5,000,000–₦50,000,000 for Lekki properties).
  • Flats:
    • 3-Bedroom Flat: ₦3,500,000–₦5,000,000 per annum (service charge: ₦294,000/year; agency/legal/caution: 10% each).
    • Studio Apartment: ₦1,800,000 per annum (Royal Pine 1 Estate, near Friends Colony).
  • Rooms:
    • Single Room (downstairs, connecting Agungi/Osapa): ₦1,000,000 per annum (service charge: ₦250,000; agency/legal/caution: 10% each).

Investment Potential

  • Advantages:
    • Prime location in Agungi/Osapa ensures high rental demand and property appreciation (20%–30% annual ROI reported in Lekki estates like Lekki Gardens, with investors earning ₦116.2 million in under two years).
    • Secure titles (Governor’s Consent, C of O) and 24-hour electricity enhance value.
    • Proximity to major developments (Lekki Free Trade Zone, Lekki Deep Sea Port, Fourth Mainland Bridge) drives long-term growth.
    • Established infrastructure and Aircom Nigeria’s reputation attract high-income residents.
  • Challenges:
    • Older house designs and strict renovation restrictions may deter buyers seeking modern aesthetics.
    • High service charges and additional fees (e.g., water billing) increase ownership costs.
    • Limited recreational facilities compared to newer estates like Lekki Foreshore.
  • Outlook: Friends Colony Estate’s robust infrastructure, security, and strategic location make it a strong choice for investors seeking stable rental income and capital gains in Lekki’s premium market.

Nearby Estates and Developments

  • Victory Park Estate, Femi Okunnu Estate, Cowrie Creek Estate, Pinnock Beach Estate, and Northern Foreshore Estate.
  • Proximity to Novare Mall Shoprite, The Circle Mall, and schools like Greensprings and Whitesands.

Contact Information

For inquiries or property viewings:

  • Friends Colony Estate, Agungi/Osapa:
    • Bluehedge Realtors: +234-*******48, 08023224585, in**@***************rs.com (e.g., ₦35,000,000 flat).
    • Spc Estate Chariots: 08108271226 (e.g., ₦10,000,000 duplex rental).
    • Shubbynigeria Consulting: 08020941212 (e.g., ₦200,000,000 duplex).
    • Neighbourhood Review: +234-8132257106, in**@*****************ew.com.
    • Nigeria Property Centre: nigeriapropertycentre.com.
    • PropertyPro Nigeria: propertypro.ng.
  • General Inquiries: Lekki Gardens (in**@**********ns.com, 07001239008) for similar developments.
  • Note: Verify agent credentials and inspect properties physically before payments to avoid scams.

Conclusion

Friends Colony Estate in Agungi/Osapa, Lekki, offers a secure and serene living experience with 24-hour electricity, modern infrastructure, and a family-friendly environment. Developed by Aircom Nigeria, its strategic proximity to the Lekki-Epe Expressway and major developments like the Lekki Free Trade Zone ensures high investment potential, with 20%–30% annual ROI. Despite older house designs and renovation restrictions, the estate’s robust amenities and secure titles attract high-income buyers and investors. Contact verified agents for the latest pricing and availability.

Disclaimer: Prices and availability are based on data as of June 25, 2025, and may vary. Verify details with estate agents or developers for accuracy.

bornbyai

Protected by CleanTalk Anti-Spam