Become A Lekki Business Owner with Cheap Commercial Property
Comprising mainly of Phase 1, Phase 2 and other suburbs like Igbo Efon, Agungi and Chevron, Lekki Peninsula is more commercial than residential. In recent years, projects have been undertaken in Lekki which have made the place to be more urban. Its proximity to the business hubs of Lagos Island and Victoria Island have impacted the commercial growth of Lekki.
The area is pretty much a self-sufficient community, with schools, hospitals, access to public transportation (buses, motorcycles, motorbikes, market and the popular Palms shopping mall), and plenty of fantastic commercial property for rent.
In addition to the oil company, Chevron, many local businesses have been set up in Lekki and consequently, the demand for apartments in these areas has risen. Compared to the neighbouring Victoria Island, Lekki is more affordable than Victoria Island when it comes to renting commercial property and it is more prestigious than Ajah.
Renting Lekki’s Premium Commercial Property
The free trade zone in Lekki and some of the major developmental projects in Ajah such as the proposed ports, would open Lekki up further to an even larger scale of commercial activities. The condition of the roads and infrastructure are in wonderful condition and in addition to road transportation, Lekki also benefits from the water transportation system through the ferry services that shuttles between Sandfield and Phase 1 in Lekki to Ikorodu.
The recently completed Lekki/Ikoyi link bridge, the toll gate regulating traffic and the proposed fourth mainland bridge would also help position Lekki to be one of the most desirable places to invest in commercial property for rent with a view to leasing or subletting.
Prices of property in Lekki are fast appreciating. This bodes a promising future for real estate investors especially because of the influx of new businesses and investors in the area. In the next ten years, Lekki promises to be an even bigger hit than it is now. Prices of commercial property for rent in Lekki vary according on location.
The closer to Victoria Island, the more expensive. This is why Lekki Phase 1 contains some of the most expensive real estate property in Lekki and why a furnished 16-room guest house at Lekki Phase 1 would cost as much as ₦ 20,000,000 in yearly rent, while 2 blocks of newly constructed office space would command ₦ 50,000/sqm annually.