Bakare Estate, Agungi, Lekki: Full Details

Bakare Estate, Agungi, Lekki: Full Details and Breakdown

Overview

Bakare Estate, located in Agungi, Lekki, Lagos, Nigeria, is a serene, gated residential estate known for its cleanliness, orderliness, and modern infrastructure. Positioned along the Lekki-Epe Expressway between the 5th and 6th roundabouts, it is a sought-after community for middle- and upper-class residents, including oil company staff and telecommunication officers, due to its proximity to Chevron Nigeria Limited. The estate offers a mix of duplexes, apartments, and land, catering to families, professionals, and investors seeking a secure and well-maintained environment. Its affordability compared to Lekki Phase 1, combined with robust security and resident-driven amenities, makes Bakare Estate a prime choice in Agungi.

Location and Accessibility

  • Address: Bakare Estate, Agungi, Lekki, Lagos, Nigeria.
  • Strategic Location: Situated in Agungi, a central residential hub along the Lekki-Epe Expressway, Bakare Estate is approximately 15 minutes from Victoria Island during off-peak hours and 25–30 minutes during rush hours (6:30–8:30 AM). It is accessible via Chevron Drive, Osapa London, and Beta Estate, with proximity to landmarks like Chevron headquarters, Lekki Phase 1, and Victoria Garden City (VGC).
  • Proximity to Amenities:
    • Education: Grande Oakbridge Montessori School (for ages 3 months–10 years), St. Gabriel’s School, Jesilo High School.
    • Healthcare: First City Hospital (offering general surgery, lab services, radiology), Medplus Pharmacy.
    • Shopping and Dining: Agungi Shopping Complex, Bakka Plaza, Begins Supermarket and Bakery, Domino’s Pizza and Cold Stone Creamery, Memories Kitchen (local dishes like Egusi, Amala), Elis Restaurant, D Perfect Kitchen.
    • Recreation: Owen’s Lounge, Titanium Nightclub, Cycle Mall (with a movie theater), Elegushi Private Beach (10 minutes away).
    • Hotels: Lekki Oxford Hotel, Dmatel Hotel and Resort, Piccadilly Suites, VTL Suites.
  • Accessibility: The main road to Agungi (Lekki-Epe Expressway) is tarred and in good condition, with reduced traffic due to recent road adjustments. The estate’s central road is interlocked but marginally maintained, while some streets lack interlocking, relying on resident contributions. Drainage is good in areas with deep, clean channels but blocked in others, causing occasional flooding.
  • Challenges: Traffic bottlenecks at the Agungi bus stop and poor drainage in some streets can affect accessibility during heavy rains.

Developer Information

  • Developer: Bakare Estate was developed through a collaboration between private developers and the Lagos State Government, with residents purchasing plots to build custom homes. The estate is managed by a residents’ association that oversees security, waste management, and infrastructure projects.
  • Resident Contributions: Residents fund road paving, drainage systems, and security, with service charges varying by street (typically ₦5,000–₦72,000/month). Streets with interlocked roads pay higher maintenance fees.
  • Contact: No direct developer contact is available, as properties are primarily on the secondary market. Buyers or renters should contact verified agents via platforms like Nigeria Property Centre, PropertyPro Nigeria, or Private Property Nigeria.

Property Types and Features

Bakare Estate offers a range of properties, including detached and semi-detached duplexes, terrace duplexes, apartments, and land, suitable for various budgets and preferences. Below is a detailed breakdown based on recent listings:

1. Detached and Semi-Detached Duplexes

  • Description: Modern 4- and 5-bedroom duplexes, often with boys’ quarters (BQ), designed for families and investors. These properties feature contemporary designs and luxury finishes, located in secure mini-estates within Bakare.
  • Features:
    • All rooms en-suite with fitted wardrobes, POP ceilings, and high-quality tiles.
    • Fully fitted kitchens with appliances (oven, microwave, heat extractor, gas cooker).
    • Smart home amenities: CCTV, central sound systems, chandeliers, and intercoms.
    • Spacious living rooms, visitor’s toilets, and walk-in closets.
    • Security features: Bulletproof Israeli security doors, 24/7 security, gated entrance.
    • Infrastructure: Water treatment plants, boreholes, interlocked roads, and 24-hour electricity in serviced units.
    • Additional amenities: Swimming pools, gyms, electric fences, and ample parking (2–3 cars).
  • Price for Sale:
    • 4-bedroom semi-detached duplex: ₦45,000,000–₦170,000,000 (e.g., ₦45M with BQ, ₦170M with sound system and CCTV).
    • 5-bedroom detached duplex: ₦180,000,000–₦300,000,000 (e.g., ₦180M with BQ in Berra Phase 2).
    • Average price: ₦160,000,000–₦220,054,518.
    • Most expensive: ₦1,000,000,000 (luxury units with premium features).
    • Cheapest: ₦500,000 (likely smaller or distressed units).
  • Price for Rent:
    • 3-bedroom semi-detached duplex: ₦4,000,000/year (service charge: ₦1,719,000, agency: 10%, legal: 5%, caution: ₦600,000).
    • 4-bedroom duplex: ₦5,000,000–₦15,000,000/year.
    • Total package for 3-bedroom: ₦6,949,400 (excluding electricity at ₦220/kWh).
  • Title: Governor’s Consent, Certificate of Occupancy (C of O), or Registered Deed of Assignment.
  • Example: A 4-bedroom semi-detached duplex with BQ at Bakare Estate (₦45M) features bulletproof doors, a water treatment plant, and a serene environment.

2. Terrace Duplexes

  • Description: 3- and 4-bedroom terrace duplexes, ideal for middle-class families or investors, offering modern designs in a gated setting.
  • Features:
    • All rooms en-suite with fitted kitchens (cabinets, heat extractors, burners).
    • POP ceilings, CCTV surveillance, and walk-in closets.
    • 24/7 security, interlocked roads, and treated water supply.
    • Ample parking (2 cars), central sound systems, and serene environment.
  • Price for Sale:
    • 4-bedroom terrace duplex: ₦35,000,000–₦120,000,000 (e.g., ₦35M at Kamal Shasi Street, ₦120M with BQ).
    • 5-bedroom terrace duplex: Up to ₦300,000,000 (with gym, pool, and play area).
  • Price for Rent: Not widely listed, but comparable terraces rent for ₦2,500,000–₦4,000,000/year.
  • Title: Governor’s Consent, C of O, or Building Approval.
  • Example: A 4-bedroom terrace duplex at Kamal Shasi, Bakare Estate (₦35M) offers interlocked roads, portable water, and a gatehouse, developed by Crovation Limited.

3. Apartments and Flats

  • Description: 1-, 2-, 3-, and 4-bedroom flats, ranging from self-contained units to luxury apartments, ideal for young professionals, students, and short-term renters.
  • Features:
    • Fitted kitchens with cabinets, gas cookers, and appliances (microwave, fridge).
    • Modern amenities: Air conditioning, water heaters, intercoms, fire extinguishers, and security doors.
    • Spacious bedrooms, visitor’s toilets, and kitchen exits.
    • Serviced units include 24/7 electricity, water treatment, and refuse disposal.
    • Serene, gated environment with ample parking and clean water via boreholes.
  • Price for Sale:
    • 2-bedroom flat: ₦58,000,000–₦140,000,000 (e.g., ₦120M with gym and pool in Ikate).
    • 3-bedroom flat: ₦170,000,000 (e.g., brand new in Ikate).
  • Price for Rent:
    • Self-contained room: ₦400,000/year (agency: ₦40,000, legal: ₦40,000, caution: 10%, service charge: ₦72,000).
    • 1-bedroom mini-flat: ₦1,500,000/year (caution: ₦100,000, agency/legal: ₦150,000 each).
    • 2-bedroom flat: ₦1,600,000/year.
    • 3-bedroom flat: ₦4,000,000/year.
    • 4-bedroom flat: ₦2,000,000/year.
    • Short-let (3-bedroom): ₦75,000–₦180,000/day (minimum 2 nights).
  • Title: Governor’s Consent or C of O.
  • Example: A 2-bedroom flat at Bakare Estate (₦1.6M/year) features all rooms en-suite, a fitted kitchen, and constant water supply, close to Chevron.

4. Land

  • Description: Residential plots (500–650 sqm) for custom development, located in secure areas accessible via Bakare or Beta Estate.
  • Features:
    • Fenced and gated plots with good road access.
    • Titles: Governor’s Consent, C of O, or Registered Deed of Assignment.
    • Serene, flood-free locations suitable for immediate construction.
  • Price:
    • 506 sqm: ₦60,000,000.
    • 650 sqm: ₦60,000,000 (accessible via Chevron Drive).
  • Example: A 650 sqm plot in Bakare Estate (₦60M) with Governor’s Consent is ideal for building a custom home in a cozy, flood-free close.

5. Commercial Properties

  • Description: Limited commercial spaces, such as shops or offices, within or near the estate.
  • Features: High-traffic locations near Domino’s Pizza, supermarkets, and hotels.
  • Price: Not widely listed, but comparable shops in Agungi sell for ₦6,000,000–₦25,000,000 or rent for ₦500,000–₦1,000,000/year.
  • Title: C of O or Deed of Assignment.

Estate Amenities and Infrastructure

Bakare Estate is a serviced, gated community with resident-driven improvements and modern facilities:

  • Security: 24/7 security with a manned gatehouse, armed guards, and CCTV in newer properties. Access is restricted to invited guests, ensuring safety. The estate’s proximity to Chevron enhances security.
  • Roads and Drainage: The central road is interlocked, with good drainage in some areas (deep, clean channels). Some streets lack interlocking or have blocked drains, causing occasional flooding. Residents contribute to road paving and maintenance.
  • Power: No central generator; electricity is supplied by EKEDC, supplemented by personal generators and inverters. Serviced units offer 24/7 power (e.g., ₦1.7M service charge for 3-bedroom duplex).
  • Water: No central water supply; all homes have personal boreholes and water treatment plants due to the need for groundwater treatment.
  • Waste Management: Handled by the Lagos State Waste Management Authority (LAWMA), though unrestricted streets may have dirt heaps.
  • Recreational Facilities: No dedicated sports facilities within the estate; residents use nearby bare land or streets for football. Cycle Mall (with a cinema) and Owen’s Lounge are nearby for leisure.
  • Commercial Hubs: Domino’s Pizza, Cold Stone Creamery, Agungi Shopping Complex, and Lekki Oxford Hotel are within walking distance.
  • Cleanliness: Notable for its orderly and clean environment, though landscaping depends on individual homeowners.

Pricing and Investment Details

  • Average Property Prices:
    • Houses for sale: ₦160,000,000–₦220,054,518 (duplexes), up to ₦1,000,000,000 (luxury units).
    • Houses for rent: ₦5,000,000/year (average), ranging from ₦400,000 (self-contained) to ₦15,000,000 (duplexes).
    • Land: ₦60,000,000 (506–650 sqm).
  • Investment Potential:
    • High ROI for rentals (₦1.6M–₦15M/year) and short-lets (₦75,000–₦180,000/day) due to proximity to Chevron and business districts.
    • Capital appreciation is strong, as Agungi is closer to Victoria Island than Ajah, yet more affordable than Lekki Phase 1.
    • Affordable land (₦60M) attracts investors for custom builds.
  • Titles: Governor’s Consent, C of O, or Registered Deed of Assignment ensure secure ownership.

Awards and Recognition

  • Cleanliness and Orderliness: Bakare Estate is praised for its well-maintained, serene environment, distinguishing it from other Agungi estates.
  • Resident Collaboration: The residents’ association is recognized for effective road and drainage projects, enhancing livability.

Challenges and Considerations

  • Flooding: Blocked drainage channels in some streets cause occasional flooding, requiring resident intervention.
  • Power Costs: Reliance on personal generators increases living costs, as there’s no central estate generator.
  • Street Maintenance: Non-interlocked streets and varying service charges (₦5,000–₦72,000/month) depend on resident contributions.
  • Market Verification: Buyers must verify agent credentials and titles to avoid scams, especially for distress sales (e.g., ₦500,000 properties).
  • Traffic: The Agungi bus stop on the Lekki-Epe Expressway can cause bottlenecks, though recent road adjustments have improved flow.

Recent Developments

  • New Listings: Recent properties include a 5-bedroom duplex with BQ (₦180M in Berra Phase 2), a 4-bedroom terrace duplex (₦35M at Kamal Shasi), and a 650 sqm land (₦60M).
  • Infrastructure Upgrades: Resident-funded interlocked roads and drainage improvements continue to address flooding issues.
  • Proposed Coastal Highway: The Lagos-Calabar Coastal Highway may enhance connectivity but raises concerns about potential demolitions in Lekki.

Why Choose Bakare Estate?

  • Affordability: Offers budget-friendly flats (₦400,000–₦1.5M/year) and luxury duplexes, ideal for middle-income earners.
  • Prime Location: 15–30 minutes from Victoria Island, with access to Chevron, Cycle Mall, and top schools.
  • Security: Gated, call-in estate with 24/7 security ensures safety.
  • Investment Potential: High rental yields and land appreciation make it attractive for investors.
  • Community-Driven: Resident-funded projects create a clean, orderly environment.

Contact Information

  • Real Estate Agents:
    • Bluehedge Realtors: +23417605148, +2348023224585 (4-bedroom duplex, ₦45M; 2-bedroom flat, ₦1.6M/year).
    • Innerworkings Investments Ltd: +2348063531327 (4-bedroom terrace, ₦80M).
    • Buy And Move In: +2348146907088, +2349015877769 (5-bedroom terrace, ₦300M; office at 2B Omoseinde Agbaje Close, Bakare Estate).
    • Pink Stride Resources: +2348032000422 (1-bedroom mini-flat, ₦1.5M/year).
    • Willperry Global Concept: +2347039688930 (3-bedroom duplex, ₦4M/year).
  • Note: Verify agent credentials, avoid inspection fees above ₦25,000, and confirm titles (C of O, Governor’s Consent) before payments. Meet agents in open locations.

Conclusion

Bakare Estate in Agungi, Lekki, is a well-organized, secure residential hub offering a mix of affordable and luxury properties, from self-contained flats to high-end duplexes. Its strategic location, 15–30 minutes from Victoria Island, proximity to Chevron, and resident-driven infrastructure make it ideal for middle- and upper-class residents and investors. Despite challenges like occasional flooding and power costs, the estate’s cleanliness, security, and high ROI potential enhance its appeal. Buyers and renters should verify titles and agent credentials through platforms like Nigeria Property Centre or PropertyPro Nigeria for secure transactions. Bakare Estate remains a compelling choice for those seeking a serene, investment-friendly lifestyle in Lekki.

Disclaimer: Prices and availability are subject to change. Verify details with authorized agents before making decisions.

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