Lake View Park 11 Estate is new haven for investment, residence

by | March 5, 2013 3:15 pm

Lake View Park 11 Estate is the new destination for both investors and those looking for a serene environment they can build their homes.

The estate, which sits on 15 hectares of land along the Lekki-Epe Expressway, just by Chevron Roundabout, is a site and serviced scheme comprising 153 plots of land.

It is a follow up to the first phase of the estate called Lake View Park 1 developed and promoted by Howard Roark Limited, a Lagos-based real estate investment company.

“The high demand for serviced plots in Lake View Park I has led to the birth of Lake View Park I1- a 15-hectare high-end residential community that will contain a 3,000 square metre man-made lake,” Olayinka Olafimihan, Howard Roark’s project manager and head of land development, says at the unveiling of the project.

Olafimihan says the estate will be developed in collaboration with reputable contractors and project managers, disclosing that there would be two stages of the development of the estate involving the provision of infrastructure and the building and construction of houses.

“These are expected to cost $25 million and $40 million, respectively; stage one will be delivered by September 2014, while stage two will take another 48 to 60 months to complete, depending on the level of our buyer’s anticipation to occupy the estate,” he says.

Lake View Park 11, he says, promises to be a world-class gated community exclusively developed for lovers of peaceful and quiet environment, noting that the estate is situated in a serene location away from the hustle and bustle of the fast growing Lekki-Epe Expressway.

According to him, the estate will be unique in a number of ways as it will be a gated residential community with unrivalled level of design, construction, amenities, site services and security.

“There will be a unique central 1,000 square metres private recreational centre with panoramic waterfront views; the centre, to be known as ‘The Lake House’ will be suspended over a two and a half acre lake,” he says.

Other features of the estate, according to Olafimihan, are best-in-class site services; fire services; uninterrupted purified water supply; PHCN power generation and distribution; central sewage system; well-maintained access and service roads, experienced site-facility managers; retail shop to service the residential community areas and facilities for sports and recreation; restaurant, etc.

The estate, which will be developed by PW Nigeria Limited, offers two attractive payment plans including outright and flexible payments, he says, explaining that outright payment buyers pay 100 percent of the price of the plot while a flexible payment buyer pays 20 percent upon signing; 20 percent after 90 days; 20 percent after 180 days; 20 percent after 270 days, and the balance of 20 percent at completion.

He discloses that there are various sizes of plots, adding that each plot sells for N35,000 per square metre for the residential area and N55,000 per square metre for the commercial area of the estate.