Milverton Estate, Lekki: Full Details with Complete Breakdown and Price List

Overview

Milverton Estate, also referred to as Milverton Court Estate, is a gated, fully serviced residential development located in the Osapa London area of Lekki, Lagos, Nigeria. Developed by Aircom Nigeria Limited, the estate spans approximately 62 hectares and is known for its serene environment, upscale apartments, and robust infrastructure. Positioned off Circle Mall (Shoprite) Road, near Friends Colony Estate and Pinnock Beach Estate, Milverton Estate offers residents a secure and luxurious living experience with proximity to Victoria Island (15-minute drive) and key amenities like shopping malls, schools, and recreational centers. This article provides a comprehensive breakdown of properties for sale and rent in Milverton Estate, including pricing, features, and investment potential.

Location

Address: Milverton Estate, off Alhaji Mudashiru Eletu Way (Shoprite Road), Osapa London, Lekki, Lagos, Nigeria.
Neighborhood Highlights:
- Proximity: 15 minutes from Victoria Island, 10 minutes from Lekki Phase 1, and close to major hubs like Ikoyi and the Lekki-Epe Expressway.
- Landmarks: Near Circle Mall (4-minute drive), Filmhouse Cinemas, Lekki Leisure Lake, The Palms Shopping Mall, and Amazon Spur Steak Ranch.
- Accessibility: Well-connected via paved roads, with the estate’s second entrance near Agungi Junction occasionally affected by rainfall but generally navigable.
- Surroundings: Adjacent to Friends Colony Estate, Pinnock Beach Estate, and other upscale developments like Northern Foreshore and Victory Park Estates.

Property Types

Milverton Estate primarily consists of residential flats, with 264 blocks delivered by the developer, each containing approximately 16 units. Available property types include:

Flats/Apartments:
- 2-Bedroom Flats: Spacious layouts with 2.5 bathrooms, ideal for small families or short-term rentals.
- 3-Bedroom Flats: Fully serviced, all rooms ensuite, with features like fitted kitchens and balconies.
Land: No current listings for land sales, as the estate is fully developed with allocated plots.
Short-Let Apartments:
- 1–3 bedroom units available for daily or monthly bookings, equipped with modern amenities for tourists or business travelers.

Note: No houses (duplexes or detached homes) are currently listed for sale or rent, as the estate focuses on multi-unit apartment blocks.

Amenities

Milverton Estate is designed for comfort and security, offering the following amenities:

Security:
- 24/7 gated access with strict security checks and professional guards.
- CCTV surveillance and secure parking spaces.
Infrastructure:
- Paved roads with a well-planned layout and concrete stamp floors.
- Efficient drainage channels to prevent flooding.
- Ample green areas and landscaped environments.
Utilities:
- 24-hour power supply via central standby generators (pay-as-you-go for electricity usage).
- Clean water supply through industrial boreholes and treatment plants.
- Central waste management and sewage systems.
Community Features:
- Children’s playground and recreational areas.
- Serene and quiet environment, ideal for families.
- High-speed WiFi, DSTV connections, and housekeeping services (for short-lets).
Management:
- Annual service charge: ₦294,000 (₦24,500 monthly), covering waste management, security, cleaning of common areas, and general maintenance.
- Managed by Aircom Nigeria Limited, ensuring consistent upkeep and professional services.

Price List

Pricing for properties in Milverton Estate varies based on size, furnishing, and rental/sale terms. Below is a detailed price list based on available listings as of June 2025 (subject to verification with agents):

Flats for Sale:
- 3-Bedroom Flat:
  - Price: ₦33,000,000–₦48,000,000 (fully furnished and serviced, Agungi section).
  - Features: 24-hour power, clean water, large kitchen with exit, pay-and-pack-in condition.
  - Title: Governor’s Consent or Registered Conveyance.
  - Example: ₦48,000,000 at Osapa Shoprite Road (rental value: ₦3,500,000 p.a.).
- 3-Bedroom Flat (Milverton Court):
  - Price: ₦38,000,000.
  - Features: All rooms ensuite, balcony, fitted kitchen, 1-room BQ, mortgage facility available.
  - Title: Governor’s Consent.
- 3-Bedroom Flat (Agungi):
  - Price: ₦35,000,000 (USD $96,700, subject to exchange rate).
  - Features: 24-hour water, balcony, POP designs, carport, solid security doors.
  - Title: Registered Conveyance.
- 3-Bedroom Flat (Osapa):
  - Price: ₦120,000,000 (spacious, fully serviced, 24-hour power).
  - Notes: Agency fee 5%.
  - Title: Governor’s Consent.
Flats for Rent (Annual Lease):
- 3-Bedroom Flat:
  - Rent: ₦3,500,000–₦6,000,000 per annum (average: ₦6,000,000 p.a.).
  - Details:
    - ₦3,500,000 (Osapa, fully serviced, service charge: ₦33,650 monthly, caution fee: ₦400,000).
    - ₦5,500,000 (2-year lease preferred, service charge: ₦24,500 monthly, caution fee: ₦800,000).
    - ₦6,000,000 (or ₦5,500,000 for 2-year payment, service charge: ₦50,000 monthly, pay-as-you-go power).
  - Additional Costs: Agency fee (10%), legal fee (10%).
  - Features: All rooms ensuite, guest toilet, built-in wardrobes, bathtubs, secure parking.
- Furnished 3-Bedroom Flat:
  - Rent: ₦4,500,000 per annum.
  - Details: Service charge ₦33,000 monthly, utility bill (pay-as-you-go), caution deposit ₦450,000, agency/legal fees 10% each.
  - Total Package: ₦5,850,000.
  - Features: DSTV, WiFi, 24-hour security, cleaning of common areas.
Short-Let Apartments:
- 2-Bedroom Flat:
  - Price: ₦80,000–₦130,000 per day.
  - Details:
    - ₦80,000 (ensuite rooms, fitted kitchen, 24/7 power, serene estate).
    - ₦130,000 (includes strong WiFi, DSTV, washing machine, housekeeping).
  - Features: Spacious living room, secure parking, good roads.
- 3-Bedroom Apartment:
  - Price: ₦110,000 per day (minimum 3-night stay, caution fee: ₦50,000).
  - Features: Fully furnished, open-plan kitchen, balcony, WiFi, DSTV, 24/7 power/security, modern decor.
  - Monthly Discount: Available for bookings of 30+ days.

Additional Costs:

Agency Fees: 5–10% for sales, 10% for rentals.
Legal Fees: 10% for rentals, included in sale documentation.
Title Documents: Governor’s Consent, Registered Conveyance, or Certificate of Occupancy for sales.
Caution Fees: ₦400,000–₦800,000 for annual rentals, ₦50,000 for short-lets.
Service Charge: ₦24,500–₦50,000 monthly, covering security, waste management, and maintenance.

Note: No land listings are currently available. Prices are subject to change; contact agents like Bluehedge Realtors (08023224585), Toplift Realtors (08029763540), or Omidan Limited (08037454306) for updates.

Investment Potential

Rental Income:
- 3-bedroom flats yield ₦3,500,000–₦6,000,000 annually, offering 5–10% rental returns based on purchase price (e.g., ₦48,000,000 purchase yields ₦3,500,000 rent).
- Short-lets generate ₦80,000–₦130,000 daily, ideal for high occupancy during peak seasons (e.g., holidays, business travel).
Capital Appreciation:
- Properties in Osapa Lekki appreciate by 15–25% annually due to proximity to commercial hubs and infrastructure improvements.
- Example: A ₦35,000,000 flat in 2019 now sells for ₦48,000,000–₦120,000,000, reflecting strong growth.
Resale Value:
- 3-bedroom flats resell for ₦33,000,000–₦120,000,000, with higher-end units commanding premium prices due to furnishings and location.

Comparison with Nearby Estates

Pinnock Beach Estate (Osapa):
- 600 sqm Land: ₦240,000,000; 4-Bedroom Duplex: ₦400,000,000.
- Amenities: Beachfront views, sports facilities, higher price point.
Friends Colony Estate (Adjacent):
- 5-Bedroom House: ₦250,000,000–₦350,000,000.
- Features: Swimming pool, home automation, more expensive than Milverton’s flats.
Victory Park Estate (Osapa):
- 425 sqm Land: ₦380,000,000.
- Similar security and infrastructure but focused on land and duplexes.

How to Purchase or Rent

Contact Agents:
- Reach out to verified agents like:
  - Bluehedge Realtors: 08023224585 (sales).
  - Toplift Realtors: 08029763540 (sales).
  - Omidan Limited: 08037454306 (rentals).
  - Kinchozi Enterprise: +2348068452477 (short-lets).
- Check listings on Nigeria Property Centre, PropertyPro.ng, or PrivateProperty.com.ng.
Site Inspection:
- Schedule visits (Monday–Saturday, 8:00 AM–8:00 PM, 2-hour notice) to view properties.
- Location: Milverton Estate Road, Osapa, Lekki (near Circle Mall).
Due Diligence:
- Verify titles (Governor’s Consent, Registered Conveyance, or Certificate of Occupancy) via land registry search.
- Engage a lawyer to review Deed of Assignment or lease agreements.
Payment Options:
- Sales: Outright payment preferred; mortgage facilities available for some units (e.g., ₦38,000,000 flat).
- Rentals: Annual payment required; 2-year leases offer discounts (e.g., ₦5,500,000 vs. ₦6,000,000).
- Short-Lets: Daily payments with caution fees; monthly discounts for extended stays.
Documentation:
- Obtain title documents for sales or lease agreements for rentals.
- Pay applicable fees (agency, legal, service charges, and caution deposits).

Clarification

Milverton Estate vs. Milverton Court: Both names refer to the same estate, developed by Aircom Nigeria Limited, with “Court” often used for specific sections or marketing.
Location: Located in Osapa, not Lekki Phase 1, though part of the broader Lekki Peninsula.
No Land Sales: Unlike nearby estates (e.g., Pinnock Beach), Milverton is fully developed, focusing on flats rather than vacant plots.
Development Status: Fully operational with 24/7 power, water, and security, unlike newer estates in Ibeju-Lekki.

Conclusion

Milverton Estate, Osapa, Lekki, offers a luxurious and secure living experience with fully serviced 2- and 3-bedroom flats priced from ₦33,000,000 to ₦120,000,000 for sale and ₦3,500,000 to ₦6,000,000 per annum for rent. Short-let options at ₦80,000–₦130,000 per day cater to transient guests. With 24-hour power, tight security, and proximity to Circle Mall and Victoria Island, the estate is ideal for families, professionals, and investors seeking 15–25% annual appreciation and solid rental yields. For current listings, inspections, or inquiries, contact agents like Bluehedge Realtors or Toplift Realtors and verify all details through due diligence.

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

Milverton Estate, Lekki: (Full Details and Price List)