The Lakowe ARM Golf and Country Road is a spread of real estate that never fails to baffle me. Less than 30 mins from the Jubilee Bridge in Ajah, the Lakowe Golf road is a 2 km stretch of road that leads to the Lakowe Golf and Country Club itself. The Golf Course is designed by PGA Professional and Golf Course Architect Robert O’ Friel is a breathtaking world class 18 Hole golf course complete with a club house and overlooks a 55 hectare man-made lake. Every morning from my perch, especially during weekends and as early as 6am, it is common sight to see expats and nationals alike being driven along the golf road to the golf course for some rounds of golf.
One of the major benefits of living along the golf road is its accessibility to the Lekki Epe axis. The rain falls this year has been quite heavy and coupled with living on the Lekki peninsula, you can guarantee that most areas suffered massive flooding and were rendered inaccessible for periods of time. Not our Golf road, I mean you can literally sense the note of pride in my post. The long stretch of road is well guarded and serene with greenery that makes me pause to stare during my evening walks. I have walked home on the golf road at midnight twice (please don’t ask why!) unmolested.
About 8 years ago, the golf road was inhabited, the developers (MIXTA) of the golf course were still developing the golf course and club house hence the idea was to deliver the projects first and then pave the road from the Lekki- Epe expressway to the golf course itself. A plot was selling for One Million Naira at the time. Like I wrote earlier, there was no road, just a lonely footpath and flora left- and right. No one even wanted to purchase land in this area talk less of building a house here. In fact the first set of residents bought their plots inside, away from the golf road and lived in clusters for safety. I mean it was that isolated!! A plot of land inside at the time was even more expensive than the ones along the golf road.
One man (and it always starts with one person) living at the time in Ikeja with a sense of foresight, vision and boldness purchased his own plot, and built his own house. Gradually, other buyers followed suit and soon enough, the developers of Lakowe Golf and Country Club graded and paved the long stretch of road and it became what we know now as the golf road with modern houses built along the road within serene secure environment. Five years ago, one could purchase a plot of land along the golf road for N12M, at a time when you could purchase a plot some few distance away for N2-4M. Now that same plot of land sells for N17-20 M and land further inside where the first set of residents purchased could be bought at- N10-N12M, ironic isn’t it? But then again, properties located along the roads are usually more expensive and if it is THE road leading up to a world class golf course such as the Lakowe Lakes Golf and Country Club, you can be sure of a good return on your investment. The moral of my post is that what usually drives up the value of property apart from location is the kind of projects located around the property in question. If you then have an airport, seaport (the first Deep Sea Port in Nigeria i must , two free trade zones, a world class refinery, then only the mathematicians, economists and surveyors can quantify the amount of value of owning property in the Lagos New Town five years or less from now.
The famous quote of the business mogul Jacob Astor then comes to mind: “buy land near a growing city, buy while others are selling”…. Which is a better investment? To buy land situate amongst ongoing developmental government and private owned projects at a relatively cheap price and reap massive ROIs or wait until the projects have been delivered before you buy and mutter to yourself ‘Nneka did advise me to buy this land some years ago?”
Don’t play yourself. You can enjoy this ROI through investment in our Lekki No. 25 Call us today and let’s help build and manage your real estate investment/portfolio.
Photo credits: tolet.com.ng and MIXTA Group.