Ocean Bay Estate, Lekki: (Full Review + Price List)

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

Overview

Ocean Bay Estate is a luxurious gated residential community located along Orchid Road, Lafiaji, Ikota, Lekki, Lagos, Nigeria. Developed by Octo5 Estates Limited, this 300,000 square meter estate, pioneered between 2003 and 2008, is divided into two phases, with Phase 1 fully completed and housing over 250 resident families. Positioned near Chevron Toll Plaza, it offers a serene, ocean-breezy environment with modern infrastructure, 24-hour security, and proximity to commercial hubs like Mega 1 Mall and Lekki Conservation Centre. Known for its beach-view appeal and high-end properties, Ocean Bay Estate attracts affluent residents, investors, and expatriates. This article provides a comprehensive breakdown of properties and land available, including pricing, amenities, and investment potential.

Location

  • Address: Ocean Bay Estate, Orchid Road, Lafiaji, Ikota, Lekki, Lagos, Nigeria.
  • Neighborhood Highlights:
    • Proximity: 15–20 minutes from Victoria Island, 10 minutes from Lekki Phase 1, and 5 minutes from Chevron Toll Plaza via Lekki-Epe Expressway. Close to Mega 1 Shopping Mall & Cinema (5-minute drive), Lekki Miami Beach, and Elegushi Beach.
    • Landmarks: Opposite Cooplag Gardens Estate, near Chevron Cooperative Estate, Orchid Hotel, and Victoria Crest Estate. Nearby attractions include Lekki Conservation Centre (10 minutes) and Lagos Business School.
    • Accessibility: Accessible via Orchid Road off Lekki-Epe Expressway, with interlocked internal roads and effective drainage. External traffic at Jakande or Chevron Toll can be heavy during rush hours (6–9 AM, 4:30–10 PM).
    • Surroundings: Surrounded by upscale estates like Buena Vista, Lake View, and Pinnock Beach, with proximity to schools, malls, and recreational spots like Alpha Beach.

Property and Land Types

Ocean Bay Estate offers a diverse range of residential properties and land parcels, catering to luxury living and investment needs:

  • Residential Properties:
    • Studio Apartment: Compact units, ideal for short-lets or single occupants.
    • 2-Bedroom Maisonette/Apartment: Includes modern amenities, suitable for small families or rentals.
    • 3-Bedroom Maisonette/Terrace Duplex: Ensuite rooms, often with boys’ quarters (BQ) in premium listings.
    • 4-Bedroom Terrace/Semi-Detached/Detached Duplex: Features 1–2 room BQ, fitted kitchens, and spacious compounds.
    • 5-Bedroom Detached Duplex: Luxury units with pools, cinemas, and smart home automation.
  • Land:
    • Sizes: 330 sqm, 430 sqm, 500 sqm, 600 sqm, 752 sqm, 795 sqm, and larger plots (e.g., 900 sqm).
    • Purpose: Primarily residential for custom homes; some mixed-use plots available.

Amenities

Ocean Bay Estate is a fully serviced estate with world-class infrastructure, emphasizing security and comfort:

  • Security:
    • 24/7 gated access with CCTV cameras, monitored gates, and security patrols.
    • Visitor access requires resident approval via telephone, ensuring privacy.
  • Infrastructure:
    • Interlocked roads with robust drainage systems to prevent flooding.
    • Well-maintained environment with streetlights, green areas, and an artificial lake nearby.
  • Utilities:
    • 24-hour power supply via dedicated transformers, central generators, and EKDC connection (electricity at ₦190/kWh, pay-as-you-go).
    • Centralized water supply from treated boreholes.
    • Central sewage and waste disposal systems.
  • Community Features:
    • Recreational facilities including swimming pools, gyms, and children’s playgrounds.
    • Proximity to Lekki Miami Beach and Alpha Beach for leisure.
    • High-speed fiber optic internet cables for connectivity.
  • Property Features:
    • Fully fitted kitchens with gas cookers, ovens, microwaves, and heat extractors.
    • Ensuite rooms with walk-in closets, Jacuzzis, and luxury sanitary wares.
    • Smart home automation, inbuilt speakers, CCTV, and balconies in premium units.
    • Ample parking (3–12 cars), rooftop terraces, and interlocked compounds.
  • Management:
    • Managed by Octo5 Estates Limited, ensuring professional maintenance.
    • Annual service charge: ₦250,000–₦420,000 (₦20,000–₦35,000 monthly), covering security, water, and maintenance (electricity excluded).

Price List

Pricing for properties and land in Ocean Bay Estate varies based on size, features, and location. Below is a detailed price list based on available listings as of June 2025 (subject to verification with agents):

  • Properties for Sale:
    • 2-Bedroom Maisonette (Sussex Apartments):
      • Price: ₦36,000,000 (Legacy Boulevard, Power View Group, 2020 pricing).
      • Features: 3.1-meter ceilings, modern balcony, fitted kitchen, parking.
      • Title: Governor’s Consent.
    • 3-Bedroom Penthouse with BQ (Sussex Opera):
      • Price: ₦44,000,000 (Legacy Boulevard, outdoor Jacuzzi, Power View Group, 2023 pricing).
      • Features: Patio terrace, fitted kitchen, BQ, rooftop lounge.
      • Title: Governor’s Consent.
    • 3-Bedroom Maisonette (Hillstar Court II):
      • Price: ₦400,000,000 (Ocean Breeze Estate Orchid-Lekki, Quints Luxury Real Estates, – Price: ₦80,000,000).
      • Features: Ensuite, fitted kitchen, CCTV, recreational facilities.
      • Title: Governor’s Consent.
    • 4-Bedroom Maisonette with BQ (Hillstar Court II):
      • Price: ₦85,000,000.
      • Features: Ensuite, BQ, fitted kitchen, ample parking.
      • Title: Governor’s Consent.
    • 4-Bedroom Penthouse with BQ (Hillstar Court III):
      • Price: ₦110,000,000.
      • Features: Ensuite, BQ, rooftop terrace, inbuilt speakers.
      • Title: Governor’s Consent.
    • 4-Bedroom Terrace/Semi-Detached/Detached Duplex:
      • Price: ₦55,000,000–₦300,000,000.
      • ₦55,000,000: 4-bedroom duplex, 600 sqm (new, Rawlings Ehumadu, PID: S56660584).
      • ₦125,000,000: 4-bedroom semi-detached, BQ, serviced (Ahomes, 08087873265).
      • ₦130,000,000: 4-bedroom detached, pool, BQ, 430 sqm (Marketbooy Realty, 08075004232).
      • ₦180,000,000: 3-bedroom townhouse, furnished, BQ (Overflow Global Properties, 08165346551).
      • ₦182,250,000: 4-bedroom detached, 2 BQ, 430 sqm (A4 Gardengate Realty, 08022221850).
      • **₦300,000,000: 4-bedroom detached, rooftop pool, 900 sqm (Rinsolarealty, 09024148615).
      • Features: Ensuite rooms, fitted kitchens, CCTV, Jacuzzis, 3–5 parking spaces.
      • Title: Governor’s Consent, C of O (some in process).
    • 5-Bedroom Detached Duplex:
      • Price: ₦190,000,000–₦300,000,000.
      • ₦190,000,000: 330 sqm, BQ (Brooke Addison Real Estate, +2348158088032).
      • ₦300,000,000: 900 sqm, CCTV, fitted wardrobes (Rinsolarealty, 09024148615).
      • Features: Ensuite rooms, pool, cinema, smart automation, 5–12 parking spaces.
      • Title: Governor’s Consent.
    • Average House Price: ₦238,399,624 (range: ₦500,000–₦1,000,000,000).
  • Properties for Rent:
    • Studio Apartment:
      • Rent: ₦1,300,000 per annum (Bigcity Realties, 08093886959).
      • Total Package: ₦1,810,000 (rent: ₦1,300,000, service: ₦250,000, agency: 10%, legal: 10%, caution: ₦260,000).
      • Features: Open-plan kitchen, 24/7 security.
    • 3-Bedroom Terrace Duplex:
      • Rent: ₦3,500,000–₦4,000,000 per annum.
      • ₦3,500,000: BQ, service charge ₦420,000 (360 Degree Properties, 09137785096).
      • ₦4,000,000: Service charge TBD (Pearl Homes, 07036150564).
      • Total Package: ₦4,450,000–₦5,200,000 (agency: 10%, legal: 10%, caution: 10%).
      • Features: Ensuite rooms, fitted kitchen, water heater, POP ceilings.
    • 3-Bedroom Maisonette (Furnished):
      • Rent: ₦5,000,000 per annum (360 Degree Properties, 09137785096).
      • Total Package: ₦6,384,000 (rent: ₦5,000,000, service: ₦384,000, agency: 10%, legal: 10%, caution: 10%).
      • Features: Ensuite rooms, 24/7 power, pay-as-you-go utilities.
    • 4-Bedroom Terrace Duplex:
      • Rent: ₦3,000,000 per annum (Mexim Listings, 08033466919).
      • Total Package: ₦3,750,000 (rent: ₦3,000,000, service: ₦250,000, agency: 10%, legal: 10%, caution: 10%).
      • Features: BQ, spacious compound, 24/7 security.
    • 5-Bedroom Detached Duplex:
      • Rent: ₦7,000,000 per annum (Propstead Ng, 09122324051).
      • Total Package: ₦8,820,000 (rent: ₦7,000,000, service: ₦420,000, agency: 10%, legal: 10%, caution: 10%).
      • Features: Fitted kitchen, Jacuzzi, family lounge, BQ.
    • 3-Bedroom Short-Let:
      • Rent: ₦40,000–₦60,000 per day (indicative, based on similar estates).
      • Features: Furnished, WiFi, Netflix, 24/7 power.
    • Average House Rent: ₦5,000,000 per annum (range: ₦3,500,000–₦7,500,000).
  • Land for Sale:
    • 600 sqm:
      • Price: ₦120,000,000 (indicative, Tedson Nigeria, 2020).
      • Title: Deed of Assignment.
    • 752 sqm:
      • Price: ₦165,000,000 (Tedson Nigeria, 2020).
      • Title: Deed of Assignment.
    • 795 sqm:
      • Price: ₦170,000,000 (Tedson Nigeria, 2020).
      • Title: Deed of Assignment.
    • Average Land Price: ₦150,000,000–₦170,000,000 for 600–795 sqm (indicative).
  • Additional Costs:
    • Agency Fees: 5–10% for sales, 10% for rentals.
    • Legal Fees: 5–10% for sales, 10% for rentals.
    • Service Charge: ₦250,000–₦420,000 p.a.
    • Caution Deposit: ₦50,000–₦500,000 for rentals.
    • Survey Fee: ₦1,800,000 (e.g., for 4-bedroom townhouse).

Note: Prices are subject to change. Contact agents like Rinsolarealty (09024148615), 360 Degree Properties (09137785096), or A4 Gardengate Realty (08022221850) for updates.

Investment Potential

  • Rental Income:
    • 3-bedroom terraces yield ₦3,500,000–₦5,000,000 p.a., offering 4–6% returns on a ₦80,000,000–₦125,000,000 investment.
    • 5-bedroom duplexes fetch ₦7,000,000 p.a., with short-lets at ₦40,000–₦60,000/day for high occupancy near Alpha Beach.
    • Studio apartments at ₦1,300,000 p.a. provide steady income for budget investors.
  • Capital Appreciation:
    • Properties appreciate by 20–30% annually due to proximity to Chevron Toll Plaza and developments like the Coastal Road linking Eko Atlantic to the Free Trade Zone.
    • Example: A 600 sqm plot at ₦120,000,000 could reach ₦150,000,000–₦180,000,000 in 2–3 years.
  • Resale Value:
    • Premium 4–5 bedroom duplexes (₦180,000,000–₦300,000,000) with features like pools and CCTV attract affluent buyers, ensuring strong resale potential.

Comparison with Nearby Estates

  • Pinnock Beach Estate (Osapa):
    • 500 sqm Land: ₦350,000,000–₦550,000,000; 4-Bedroom Duplex: ₦450,000,000.
    • Features: Beachfront, but higher prices and farther from toll gate.
  • Victory Park Estate (Osapa):
    • 480 sqm Land: ₦240,000,000; 5-Bedroom Duplex: ₦125,000,000–₦620,000,000.
    • Features: Similar amenities, slightly more recreational focus.
  • Buena Vista Estate (Orchid Road):
    • 5-Bedroom Duplex: ₦200,000,000; opposite Ocean Bay.
    • Features: Comparable infrastructure, less beach proximity.

How to Purchase or Rent

  1. Contact Agents:
    • Reach out to verified agents like:
      • Rinsolarealty: 09024148615 (duplexes).
      • 360 Degree Properties: 09137785096 (rentals, maisonettes).
      • A4 Gardengate Realty: 08022221850 (detached duplexes).
      • Brooke Addison Real Estate: +2348158088032 (5-bedroom).
    • Check listings on Nigeria Property Centre (nigeriapropertycentre.com) or PropertyPro.ng.
  2. Site Inspection:
    • Schedule visits (Monday–Saturday, 8:00 AM–8:00 PM, 2-hour notice) via Orchid Road, Lafiaji.
  3. Due Diligence:
    • Verify titles (Governor’s Consent, C of O, Deed of Assignment) through land registry search.
    • Engage a lawyer to confirm no encumbrances.
  4. Payment Options:
    • Sales: Outright payment preferred; some listings (e.g., De Castle Max) offer installment plans with 50% deposit, balance over 6–12 months.
    • Rentals: Annual payment for long-term; daily/weekly for short-lets.
  5. Documentation:
    • Obtain Governor’s Consent, C of O, or Deed of Assignment.
    • Pay agency (5–10%), legal (5–10%), and service charges (₦250,000–₦420,000 p.a.).

Clarification

  • Ocean Bay Estate: Located in Ikota, Lekki, along Orchid Road, not to be confused with Ocean Breeze Estate (Ologolo) or Ocean Bay in Ibeju-Lekki. It’s a fully developed estate with an artificial lake and beach proximity.
  • Development Status: Phase 1 is complete with 250 families; Phase 2 details are limited but include ongoing projects like Sussex Apartments.
  • Sussex Apartments: A sub-development on Legacy Boulevard with 5 units, completed in 2020, offering 2–3 bedroom options.

Conclusion

Ocean Bay Estate, Orchid Road, Lekki, offers a luxurious coastal lifestyle with studio to 5-bedroom properties (₦36,000,000–₦300,000,000), rentals (₦1,300,000–₦7,000,000 p.a.), and land (₦120,000,000–₦170,000,000). With 24-hour power, security, and amenities like pools and gyms, it rivals Pinnock Beach and Victory Park at competitive prices. Its 20–30% annual appreciation and proximity to Chevron Toll Plaza make it ideal for investors and residents. Contact agents like Rinsolarealty (09024148615) or 360 Degree Properties (09137785096) and conduct due diligence to secure your investment.

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

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