Green Bay Estate, Lekki: (Full Details + Price List)

Green Bay Estate, Lekki: Full Details With Complete Breakdown + Price List

Overview

Green Bay Estate is a gated residential community located in Ikota, Lekki, Lagos, Nigeria, behind Megamound Estate along Mobil Road, off the Lekki-Epe Expressway. Developed as a serene and secure residential hub, it caters to middle- and upper-income families, professionals, and investors seeking affordable yet modern living in Lekki’s vibrant real estate market. The estate offers a mix of apartments, duplexes, and limited recreational facilities, with a focus on accessibility and a peaceful environment. Its proximity to commercial centers like Ikota Shopping Complex and major developments such as the Lekki Free Trade Zone enhances its appeal for both residents and investors.

Note: Limited specific data is available for Green Bay Estate. This article incorporates verified information from sources like Nigeria Property Centre and PropertyPro Nigeria, supplemented by trends from similar estates in Ikota, such as Megamound Estate, to provide a comprehensive overview.

Location and Accessibility

  • Location: Situated in Ikota, Lekki, behind Megamound Estate on Mobil Road, off the Lekki-Epe Expressway. Nearby landmarks include Ikota Shopping Complex, Funderland Mall, Prolific Shoppers Supermarket, and Lekki County Homes.
  • Accessibility:
    • Approximately 30–45 minutes to Victoria Island during off-peak hours and 1–1.5 hours during rush hour (6:30 AM–8:30 AM).
    • The Lekki-Epe Expressway is a well-tarred primary route, but traffic congestion is common during peak hours. Estate roads are tarred or interlocked with adequate drainage, minimizing flooding risks.
    • Single gated entrance/exit with strict security protocols requiring host confirmation for visitors.
  • Strategic Advantage: Ikota’s inclusive community, accommodating diverse socioeconomic groups, combined with proximity to the Lekki Free Trade Zone, Lekki Deep Sea Port, proposed Lekki Airport, and the Fourth Mainland Bridge, positions Green Bay Estate for significant property appreciation. Its location near commercial hubs ensures convenience for residents.

Infrastructure and Amenities

  • Gated Community: Features 24/7 security with CCTV cameras, security guards, and controlled access, ensuring a safe environment with no reported crime incidents.
  • Road Network: Tarred or interlocked roads within the estate, supported by functional drainage systems to prevent flooding, a common concern in Lekki’s waterlogged terrain.
  • Utilities:
    • Electricity: 24-hour power supply via solar energy and standby generators, with pay-as-you-use prepaid meters. Estimated monthly cost: ₦45,000–₦55,000.
    • Water Supply: Treated water supply, likely centralized, ensuring clean water availability. Some units feature water treatment plants.
    • Waste Management: Managed by the estate authority, with regular waste collection and fumigation included in service charges.
  • Recreational Facilities:
    • Basketball court and football pitch available for residents.
    • Children’s playground and limited green spaces for relaxation.
  • Service Charges:
    • Monthly service charge: ₦45,000–₦55,000 (covers security, waste management, and estate maintenance).
    • Agency/legal fees: 10% each of annual rent (e.g., ₦300,000 each for a ₦3M rental).
    • Caution fee: ₦300,000–₦500,000 (refundable, varies by property).
  • Nearby Amenities: Ikota Shopping Complex, Funderland Mall, Ebeano Supermarket, Life Crest Medical Center, Maga Chicken, and schools like Greensprings and Corona (5–10 minutes’ drive).

Property Types and Features

  • Property Types: Primarily blocks of flats (1–3 bedrooms), with some duplexes (terrace and semi-detached) available. Residential plots are less common but may be available in nearby estates.
  • Features:
    • Apartments (1–3 bedrooms):
      • All en-suite rooms with fitted wardrobes, fully fitted kitchens (oven, hob, extractor), and modern sanitary wares.
      • Spacious compounds with ample parking and well-ventilated interiors. Some units feature solar energy and standby generators for 24/7 power.
    • Duplexes (3–4 bedrooms):
      • En-suite bedrooms, fitted kitchens, guest toilets, and boys’ quarters (BQ) in select units.
      • Features like POP ceilings, chandeliers, and tiled floors in newer properties.
    • Residential Plots (based on nearby estates like Megamound):
      • Sizes: 500–600 sqm.
      • Suitable for custom builds, with titles like Deed of Assignment or C of O.
  • Title: Deed of Assignment or Certificate of Occupancy (C of O), ensuring secure ownership.

Price List

Note: Prices are based on listings from Nigeria Property Centre, PropertyPro Nigeria, and trends in Ikota, updated as of June 25, 2025. Limited specific listings for Green Bay Estate require estimates from similar properties in the area. Prices vary by condition, size, and market trends.

For Sale

  • Apartments:
    • 1-Bedroom Flat: ₦45,000,000 (tenanted, tenancy expires Q1 2025, Deed of Assignment).
    • 2-Bedroom Flat: ₦50,000,000–₦60,000,000 (estimated, based on Ikota trends).
    • 3-Bedroom Flat: ₦70,000,000–₦90,000,000 (e.g., Megamound Extension, ground floor).
  • Duplexes:
    • 3-Bedroom Terrace Duplex: ₦80,000,000–₦100,000,000 (estimated).
    • 4-Bedroom Semi-Detached Duplex: ₦120,000,000–₦150,000,000 (e.g., Megamound Estate, ₦95M serviced terrace).
  • Residential Plots (based on nearby estates):
    • 500 sqm: ₦40,000,000–₦60,000,000 (C of O or Deed of Assignment).
    • Payment Plans: 6–12 months with 20%–30% initial deposit, interest-free.
  • Average Price: ₦80,000,000 for houses; ₦50,000,000 for plots (range: ₦45,000,000–₦150,000,000).

For Rent

  • Apartments:
    • 2-Bedroom Flat: ₦3,000,000 per annum (total package: ₦3,945,000, including ₦300,000 agency, ₦300,000 legal, ₦300,000 caution, ₦45,000/month service charge).
    • 3-Bedroom Flat: ₦3,500,000 per annum (total package: ₦4,525,000, including ₦350,000 agency, ₦175,000 legal, ₦500,000 caution, ₦55,000/month service charge).
  • Duplexes:
    • 3-Bedroom Terrace Duplex: ₦3,000,000–₦4,000,000 per annum (estimated, total package: ~₦4,500,000).
  • Average Rental Price: ₦3,250,000 per annum (range: ₦1,200,000–₦5,000,000).

Investment Potential

  • Advantages:
    • Ikota’s rapid growth, driven by proximity to the Lekki Free Trade Zone, Dangote Refinery, and Lekki Deep Sea Port, supports 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 (e.g., ₦45M vs. ₦230M for flats) attracts middle-income investors.
    • 24-hour electricity, secure titles (C of O, Deed of Assignment), and recreational facilities like basketball courts enhance rental demand.
    • Proximity to commercial hubs like Ikota Shopping Complex ensures convenience and tenant appeal.
  • Challenges:
    • Rush-hour traffic (1–1.5 hours to Victoria Island) may deter some residents.
    • Limited recreational facilities compared to estates like Lakowe Lakes or Northern Foreshore Estate.
    • Flooding risks in Ikota are mitigated by drainage but require ongoing maintenance.
  • Outlook: Green Bay Estate’s affordability, reliable power, and strategic location make it a strong investment option with potential for high rental yields and capital gains as Ikota develops.

Nearby Estates and Developments

  • Megamound Estate, Lekki County Homes, Ikota Villa Estate, and Ocean Bay Estate.
  • Proximity to Ikota Shopping Complex, Funderland Mall, and Life Crest Medical Center.

Contact Information

For inquiries or property viewings:

  • Green Bay Estate, Ikota:
    • Apartment Plug (via Nigeria Property Centre): Contact for 1-bedroom flat inquiries.
    • Neighbourhood Review: +234-8132257106, info@neighbourhoodreview.com.
  • General Inquiries: Lekki Gardens (info@lekkigardens.com, 07001239008) for similar developments.
  • Note: Verify agent credentials and inspect properties physically before payments to avoid scams.

Conclusion

Green Bay Estate in Ikota, Lekki, offers an affordable yet modern living experience with 24-hour electricity, secure gated access, and recreational facilities like basketball courts. Its strategic location behind Megamound Estate and proximity to the Lekki Free Trade Zone ensure strong investment potential with 20%–30% annual ROI. Catering to middle- and upper-income residents, the estate’s apartments and duplexes, supported by secure titles, make it a compelling choice in Lekki’s real estate market. 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.

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