Fara Park Estate, Lekki (Breakdown + Price List)

Fara Park Estate, Lekki: Full Details With Complete Breakdown + Price List

Overview

Fara Park Estate is a gated, fully serviced residential estate located in Sangotedo, Lekki, Lagos, Nigeria, along the Lekki-Epe Expressway. Developed by Briscoe Properties Limited, the estate spans approximately 15 hectares and comprises over 305 exquisitely finished housing units, including duplexes, apartments, townhouses, and patio houses. Fara Park is designed for middle- and high-income families, offering a serene, secure, and family-friendly environment with 24-hour electricity and modern amenities. Its strategic location near Novare Mall Shoprite and major developments like the Lekki Free Trade Zone makes it a prime choice for residents and investors. Fara Park II, a mixed-use extension developed by Mixta Nigeria, offers additional residential plots and affordable housing options.

Location and Accessibility

  • Location: Situated in Sangotedo, Lekki, near Crown Estate and opposite Lufasi Nature Park, along the Lekki-Epe Expressway. Nearby landmarks include Novare Mall Shoprite, Lagos Business School, and Caleb British International School.
  • Accessibility:
    • Approximately 37 km from Victoria Island, taking 45 minutes during off-peak hours and 1–2 hours during rush hour (6:30 AM–8:00 AM).
    • The Lekki-Epe Expressway is tarred and in very good condition, though traffic congestion is common during peak hours. Estate roads are tarred or interlocked with pedestrian walkways.
    • Single entrance/exit with strict security protocols enhances safety.
  • Strategic Advantage: Proximity to the Lekki Free Trade Zone, Lekki Deep Sea Port, proposed Lekki Airport, and the Fourth Mainland Bridge positions Fara Park as a high-potential investment hub.

Infrastructure and Amenities

  • Gated Community: Secured with a single entrance/exit, 24/7 armed and unarmed security, CCTV surveillance, and visitor clearance requiring host confirmation.
  • Road Network: Tarred and interlocked roads with street lights, deep drainage channels, and pedestrian walkways, ensuring a flood-free environment.
  • Utilities:
    • Electricity: 24-hour power supply via central generators, independent of EKDC, charged at ₦45 per kilowatt (prepaid meters).
    • Water Supply: Centralized water treatment plant providing clean, treated water to all units.
    • Waste Management: Handled by the estate management, with regular collection and fumigation included in service charges.
  • Recreational Facilities:
    • Swimming pool, tennis court, basketball court, and football field.
    • Green areas and well-landscaped environments for relaxation.
  • Service Charges:
    • Annual service charge: ₦500,000, covering security, water supply, waste management, gardening, and infrastructure maintenance.
    • Agency/legal fees: 10% each of annual rent.
    • Caution fee: ₦500,000 (refundable, varies by property).
  • Nearby Amenities: Novare Mall Shoprite, Joygold Mall, Lagos Business School, Greensprings School, Lufasi Nature Park, and Caleb British International School (5–10 minutes’ drive).

Property Types and Features

  • Property Types: Includes 2- and 3-bedroom apartments, 3- and 4-bedroom townhouses, 4-bedroom patio houses, 4–5-bedroom detached and semi-detached duplexes, and residential plots (Fara Park II).
  • Features:
    • Apartments (2–3 bedrooms):
      • Fully fitted kitchens with appliances (hob, oven, extractor), spacious bedrooms, and large kitchens with storage.
      • En-suite rooms, bulletproof security doors, and water treatment systems in newer units.
    • Townhouses and Patio Houses (3–4 bedrooms):
      • All en-suite bedrooms with fitted wardrobes, spacious living areas, and boys’ quarters (BQ) in select units.
      • Modern finishes, including POP ceilings and high-quality tiles.
    • Detached/Semi-Detached Duplexes (4–5 bedrooms):
      • En-suite bedrooms with walk-in closets, jacuzzis in master suites, and family lounges.
      • Features like CCTV, inbuilt speakers, and parking for 4–6 cars.
    • Residential Plots (Fara Park II):
      • Sizes: 450–600 sqm, suitable for custom builds.
      • Titles: Certificate of Occupancy (C of O) or Freehold.
  • Title: Certificate of Occupancy (C of O) or Governor’s Consent, ensuring secure ownership.

Price List

Note: Prices are based on listings from Nigeria Property Centre, Private Property Nigeria, and other sources, updated as of June 25, 2025. Prices may vary based on property condition, size, and market trends.

For Sale

  • Apartments:
    • 3-Bedroom Apartment: ₦27,000,000–₦30,000,000.
  • Townhouses and Patio Houses:
    • 3-Bedroom Townhouse: ₦35,000,000.
    • 4-Bedroom Patio House: ₦38,000,000–₦50,000,000.
  • Duplexes:
    • 4-Bedroom Semi-Detached Duplex with BQ: ₦100,000,000 (e.g., Diamond Estate 2, beside Fara Park).
    • 5-Bedroom Detached House: ₦55,000,000–₦120,000,000.
  • Land (Fara Park II):
    • 600 sqm Plot: ₦10,500,000 (outright).
    • Payment Plans (Northgate, opposite Fara Park):
      • 3-month plan: ₦16,325,000 (includes ₦10,500,000 land cost, ₦525,000 interest, ₦3,000,000 development fee, ₦2,000,000 survey, ₦300,000 deed).
      • 6-month plan: ₦16,850,000 (includes ₦1,050,000 interest).
    • 25 Plots (off Lekki-Epe Expressway): ₦35,000,000 per plot (C of O, market value ₦50,000,000–₦60,000,000).
  • Average Price: ₦120,000,000 for houses; ₦35,000,000 for land (range: ₦10,500,000–₦880,000,000 for Sangotedo properties).

For Rent

  • Apartments:
    • 3-Bedroom Apartment: ₦1,500,000 per annum (service charge: ₦500,000; agency/legal: 10% each; caution: ₦500,000).
  • Townhouses and Patio Houses:
    • 3-Bedroom Townhouse: ₦2,250,000 per annum.
    • 4-Bedroom Patio House: ₦2,500,000 per annum (service charge: ₦500,000; agency/legal/caution: 10% each).
  • Duplexes:
    • 5-Bedroom Detached House: ₦4,500,000 per annum (service charge: ₦500,000; agency/legal/caution: 10% each).
    • Total Package Example (4-Bedroom Patio): Rent (₦2,500,000) + Service Charge (₦500,000) + Agency (₦250,000) + Legal (₦250,000) + Caution (₦500,000) = ₦4,000,000 first-year total.
  • Average Rental Price: ₦2,500,000–₦5,000,000 per annum (Sangotedo trends).

Investment Potential

  • Advantages:
    • Sangotedo’s rapid growth, driven by the Lekki Free Trade Zone, Dangote Refinery, and Lekki Deep Sea Port, ensures high property appreciation (20%–30% annual ROI, as seen in Lekki Gardens with ₦116.2 million returns in under two years).
    • Affordable pricing compared to Lekki Phase 1 makes it accessible for middle-income investors.
    • 24-hour electricity, secure titles (C of O), and modern amenities like recreational facilities enhance rental demand.
    • Flexible payment plans for plots (3–6 months) ease acquisition.
  • Challenges:
    • Distance from Victoria Island (37 km) and rush-hour traffic may deter some residents.
    • Property appreciation has been slower due to location but is expected to rise with Lekki-Epe Expressway expansion.
    • Flooding risks in Sangotedo are mitigated by deep drainage channels.
  • Outlook: Fara Park’s robust infrastructure, 24-hour power, and strategic location make it a strong investment with high potential for rental income and capital gains as Ibeju-Lekki develops.

Nearby Estates and Developments

  • Crown Estate, Emperor Estate, Lekki Gardens, Chois Garden Estate, and Northgate Majek.
  • Proximity to Novare Mall Shoprite, Joygold Mall, Lufasi Nature Park, and Caleb British International School.

Contact Information

For inquiries or property viewings:

  • Fara Park Estate, Sangotedo:
    • Bluehedge Realtors: +234-1-7605148, 08023224585, info@bluehedgerealtors.com.
    • Neighbourhood Review: +234-8132257106, info@neighbourhoodreview.com.
    • Jonela Concept: +2348069483220 (land sales).
    • Nigeria Property Centre: nigeriapropertycentre.com.
    • PropertyPro Nigeria: propertypro.ng.
  • General Inquiries: Mixta Nigeria (Fara Park II, mixtafrica.com) or Lekki Gardens (info@lekkigardens.com, 07001239008).
  • Note: Verify agent credentials and inspect properties physically before payments to avoid scams.

Conclusion

Fara Park Estate in Sangotedo, Lekki, offers a serene and secure living experience with 24-hour electricity, modern recreational facilities, and well-planned infrastructure. Its affordable pricing, secure titles (C of O), and proximity to major developments like the Lekki Free Trade Zone ensure strong investment potential with 20%–30% annual ROI. Catering to middle- and high-income families, the estate’s diverse property types and ongoing Fara Park II expansion make it a top choice in Ibeju-Lekki. 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

0 responses to “Fara Park Estate, Lekki (Breakdown + Price List)”