Land for Sale in Oral Estate, Lekki: Details and Price List

Land for Sale in Oral Estate, Lekki: Full Details with Complete Breakdown and Price List

Overview

Oral Estate, located in the prestigious Lekki Peninsula, Lagos, Nigeria, is a gated residential community known for its serenity, security, and strategic proximity to the Lekki-Epe Expressway. Situated near the Chevron Tollgate, this estate offers a blend of luxury and accessibility, making it a prime choice for investors and homebuyers seeking to build custom homes in a well-planned environment. Developed in the early 1990s by Chief Ephraim Ademola Oluwatayo, Oral Estate reflects a vision of fostering family values in a secure, upscale setting. This article provides a detailed breakdown of land for sale in Oral Estate, including plot sizes, amenities, pricing, and investment potential.

Location

  • Address: Oral Estate, off Lekki-Epe Expressway, near Chevron Tollgate, Lekki, Lagos, Nigeria.
  • Neighborhood Highlights:
    • Proximity: 10 minutes from Victoria Island, Lagos’ financial hub, and close to Lekki Phase 1.
    • Accessibility: Positioned between Lekki-Epe Expressway and the Victoria Island-Lekki-Ajah axis, offering easy access to major business districts, schools (e.g., Corona School, Greensprings School), and commercial centers like Novare Mall/Shoprite.
    • Surroundings: Adjacent to estates like Pinnock Beach Estate, Victory Park Estate, and Ikota Villa Estate, with landmarks such as Chevron Headquarters and Atlantic Centre within a 10-minute drive.
    • Environment: Serene, flood-free area with scenic views of the Lagos Lagoon and proximity to the Atlantic Ocean.

Land Types and Plot Sizes

Oral Estate offers residential plots suitable for building luxury homes, duplexes, or small-scale apartment complexes. Available plot sizes include:

  • Standard Plots: 600 sqm, 650 sqm, 749 sqm, 824 sqm, 946 sqm, 1,185 sqm, 1,400 sqm, and larger parcels up to 3,200 sqm.
  • Special Plots: 7 plots (approximately 4,200 sqm) overlooking East Gate Hotel, ideal for larger developments.
  • Characteristics:
    • Dry, firm land suitable for immediate development.
    • Regular-shaped plots in a well-planned layout.
    • Some plots are strategically located near the estate’s entrance or on tarred roads.

Amenities

Oral Estate is designed to provide a secure and comfortable living experience with modern infrastructure:

  • Security:
    • 24/7 gated access with security personnel.
    • CCTV surveillance and access control systems.
  • Infrastructure:
    • Well-paved, interlocked road network.
    • Underground power cables for reliable electricity.
    • Efficient drainage system to prevent flooding.
    • Central water supply with borehole and treatment plant.
  • Utilities:
    • Clean borehole water.
    • Sewage treatment system.
    • Streetlights for enhanced safety and aesthetics.
  • Community Features:
    • Landscaped green areas and serene ambiance.
    • Proximity to recreational facilities like parks and sports centers in nearby estates.
    • No interference from “omonile” (local land agents), ensuring smooth transactions.
  • Management: Professionally managed estate with strict building guidelines to maintain aesthetic and structural standards.

Price List

Land prices in Oral Estate vary based on plot size, location within the estate, and title documents. Below is a detailed price list based on available listings as of June 2025 (prices are subject to change and should be verified with real estate agents or developers):

  • Smaller Plots:
    • 600 sqm: ₦90,000,000–₦120,000,000 (Deed of Assignment or Governor’s Consent).
    • 650 sqm: ₦90,000,000 (Certificate of Occupancy).
    • 749 sqm: ₦300,000,000 (Governor’s Consent, entrance road location).
  • Medium Plots:
    • 824 sqm: ₦220,000,000 (Certificate of Occupancy, Ocean Bay Estate Phase 1, nearby).
    • 946 sqm: ₦180,000,000 (Melrose Park Estate, adjacent to Oral Estate).
    • 1,185 sqm: ₦180,000,000 (Deed of Assignment).
  • Larger Plots:
    • 1,400 sqm: ₦180,000,000 (slightly negotiable, Governor’s Consent).
    • 3,200 sqm: ₦650,000,000 (Governor’s Consent, near 2nd Tollgate).
    • 7 Plots (approx. 4,200 sqm): ₦120,000,000 per plot (Governor’s Consent, overlooking East Gate Hotel).
  • Special Listings:
    • 1,869.145 sqm (Chevron Alternative, facing Oral Estate): ₦380,000,000 (Governor’s Consent, approved for commercial and residential use).
  • Additional Costs:
    • Agency Fee: 5–10% of purchase price.
    • Legal and Documentation Fees: 5–10% (for Deed of Assignment, Governor’s Consent, or Certificate of Occupancy).
    • Development Levy: Varies by plot size and estate management requirements.

Note: Prices are indicative and may vary based on market trends, plot location, and negotiation. Contact verified agents (e.g., Nextphase Realtors: 08032394162, Pulcher Homes: 09035022257) for current pricing and availability.

Investment Potential

  • Rental Income:
    • Developed properties in Oral Estate, such as 4–5 bedroom duplexes, command annual rents of ₦7,000,000–₦15,000,000, offering 5–8% rental yields.
    • Example: A 4-bedroom semi-detached duplex rents for ₦7,500,000–₦15,000,000 annually.
  • Capital Appreciation:
    • Land in Oral Estate appreciates rapidly due to its prime location and infrastructure, with potential for 20–30% annual growth.
    • Example: Nearby estates like Pinnock Beach Estate have seen land prices rise from ₦180,000/sqm to ₦400,000/sqm in recent years.
  • Resale Value:
    • Developed properties (e.g., 4-bedroom duplexes) sell for ₦130,000,000–₦325,000,000, reflecting strong demand for completed homes.
    • Land flipping can yield significant profits, especially for plots near the entrance or with premium titles like Certificate of Occupancy.

Comparison with Nearby Estates

  • Pinnock Beach Estate (Osapa London):
    • 600 sqm: ₦240,000,000 (Governor’s Consent).
    • Amenities: Beachfront views, sports facilities, higher price point due to prestige.
  • Victory Park Estate (Osapa):
    • 425 sqm: ₦380,000,000 (Certificate of Occupancy).
    • Features: Similar security and infrastructure, slightly smaller plot sizes.
  • Melrose Park Estate (near Oral Estate):
    • 946 sqm: ₦180,000,000 (Governor’s Consent).
    • Benefits: Comparable amenities, slightly lower pricing for similar plot sizes.
  • Ikota Villa Estate:
    • 600 sqm: ₦150,000,000–₦200,000,000.
    • Similar accessibility but less premium than Oral Estate.

How to Purchase

  1. Contact Agents or Developer:
    • Reach out to verified real estate agents like Nextphase Realtors (08032394162), Pulcher Homes (09035022257), or Sparklett Homes and Properties (08093886959).
    • Check listings on platforms like Nigeria Property Centre (nigeriapropertycentre.com) or PropertyPro Nigeria (propertypro.ng).
  2. Site Inspection:
    • Schedule a visit with a minimum 2-hour notice (Monday–Saturday, 8:00 AM–8:00 PM).
    • Verify plot boundaries, infrastructure, and estate layout.
  3. Due Diligence:
    • Conduct a land registry search to confirm title status (Governor’s Consent, Certificate of Occupancy, or Deed of Assignment).
    • Engage a lawyer to review documents and ensure no encumbrances.
  4. Payment Options:
    • Outright Payment: Preferred for immediate allocation and potential discounts.
    • Installment Plans: Available for some plots (e.g., 3–6 months interest-free for smaller plots).
    • Example: 300 sqm in nearby Solace Residential Estate offers 3-month interest-free plans at ₦110,000,000.
  5. Documentation:
    • Obtain Governor’s Consent, Certificate of Occupancy, or Deed of Assignment.
    • Pay applicable fees (agency, legal, and estate management levies).

Clarification on Oral Estate

  • Location Specificity: Oral Estate is distinct from other estates like Orchid Road estates or Lekki Phase 1, though it shares the same Lekki Peninsula region.
  • Development Status: A fully developed estate with operational infrastructure, unlike newer estates still under construction.
  • Title Documents: Most plots come with Governor’s Consent or Certificate of Occupancy, ensuring secure ownership.

Conclusion

Oral Estate, Lekki, offers a prime opportunity for investors and homebuyers seeking land in a secure, well-planned, and rapidly appreciating location. With plot sizes ranging from 600 sqm to 3,200 sqm and prices from ₦90,000,000 to ₦650,000,000, the estate caters to various budgets and development goals. Its strategic location near Chevron Tollgate, robust infrastructure, and high rental and resale potential make it an attractive investment. For accurate pricing, availability, and inspections, contact verified real estate agents or visit property portals like Nigeria Property Centre or PropertyPro Nigeria. Always conduct thorough due diligence to ensure a smooth purchase process.

Disclaimer: Prices and availability are subject to change. Verify all details with the developer or licensed real estate agents before proceeding.

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