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Lekki Phase 1 is a well-planned and mapped-out residential scheme by the Lagos state government. It is located in the Eti-Osa Local Government Area of the State. The area now known as Lekki Phase 1 was formerly known as Maroko, a slum before it was destroyed by the Raji Rasaki-led Lagos State military Government.

Today, Lekki phase 1 is considered to be one of the most expensive places to live in Nigeria. It currently has a reputation as an area with some of the most expensive real estate assets in Lagos State. The properties in Lekki phase 1 are expensive due to high demand (for both commercial & residential purposes) and proximity to the Victoria Island / Ikoyi business districts.

Lekki Phase 1 is a fast-growing neighborhood known to have lots of spots for recreation and leisure. The area is also very commercial with lots of business outfits including restaurants, shopping malls/plazas, boutiques, hotels, etc. Recreation centers in Lekki Phase 1 include Fun Factory for Kids, Lekki Tennis Club, Lekki Waterside, Flex Lagos, Funtopia Leisure Resort, Funturf, Flamingo gaming, play barn for kids.

CASH FLOW PROJECTION
Every 2 years at the rate of 10-15% estimated.

CAPITAL APPRECIATION
Yearly rental yield 10% of sales value guaranteed and rental increase every 2 years due to capital appreciation.

Guaranteed Net Rental Yield
₦10M Annually
Features 
All rooms en-suite, Guest Toilet, Open Planned fully fitted Kitchen,
Balconies, spacious Living area, and Dining. 24/7 Uninterrupted Power Supply, Ample Parking Space (2 cars)

Frequently Asked
1. What type of Property is this – It is a 2 Bedroom Luxury apartment.  

2. What is the Minimum amount to co-own this property and the minimum unit? –

Answer: The minimum amount is *N100,000* and minimum unit is 1 unit of 1,000 unit shares.

Show Details
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Property Category   
Choice Property
Listing Date 
Jan.2023
Minimum Purchase Unit
₦100,000/1 Unit Share
Capital Appreciation
Every 2 years between 5-15%
Guaranteed Yearly rental
10% of property value
Property Use 
Shortlet Property
Project Launch Date
3 months from the listing date
Holding Period
Projected 3 months
Lock in Period
After 12 months from the launch date
Title Document
Certificate of occupancy with 99years lease.
Property Status
Fully Completed,
Insurance Status
Would be insured,
Investment Type
Co-own

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3. Is there a Maximum subscription amount –

Answer: No, there is no maximum amount.
4. How long will it take members to subscribe –

Answer: It depends on the rate of subscription. But we are projecting a maximum of 3 months subscription period for a property and an average subscription period of 1 month and above.

5. What is the projected time-line (subscription period)

Answer: – 8weeks, starting from the day of listing on the PINCOOP market place (but it depends on the members subscription rate).

6. What is the title document of the property?-

Answer: The title document of the property is a C of O

7. Does the property have a building plan –

Answer: Yes it has an approved building plan.

8. What documents do I get when I purchase a unit?

Answer: – You would get your purchase receipt, Certificate of beneficial Ownership, Contract of Share ownership, photocopies of the original title document of the property co-owned.

*NB*: the original document will be kept in the bank, for all co-owners to have unrestricted access for sighting.

9. When is the projected launch date of this property?

Answer: The project launch date is after the holding period which is the subscription period for the property plus 2 weeks for payment for the property and property documentation and extra 2 weeks to get the property ready for launch.

10. What purpose would the property be used for –

Answer: The property will be used for Shortlet/Airbnb so that we can get the maximum ROI.

11. Has the document of the property been verified by PINCOOP before listing?

Answer- Yes PINCOOP has done due diligence and verified the documents to be free from all encumbrances before listing on the PINCOOP platform.

12. How long is the documentation period?

Answer – takes 2weeks.

13. Is the property going to be insured?

Answer: Yes, the property will be insured by Zenith insurance.

14. What is the annual rental yield for this property?

Answer – 10% of the capital invested to co-own.

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