In a bid to meet the housing needs of the growing middle class, Penbrook Homes, a new real estate developer, is currently offering land buyers and investors opportunity to own land at affordable prices at its Villa Park Estate. The estate, which sits on a large expanse of land comprising 370 plots, is located along Lekki-Epe Expressway, Lagos, a few minutes drive from the Lekki Free Trade Zone.
According to Samuel Mbang, consultant to Penbrook Homes, the estate has as its neighbours the Pan-African University, Golf Course, the new international airport, Dominion Estate, Wisdom Estate, Peace Estate, Co-operative Homes, Chosen University/Seminary, and Lagos State industrial site.
To Mbang, a plot of land currently costs N550,000 for an outright payment and N650,000 for a six months instalment payment plan. The estate, which is a new scheme in the housing market, currently has a graded and accessible road network, Mbang said, adding that construction of physical structure like layout, well-planned road network and other facilities that would aid in servicing the plot are currently in progress, pointing out that facilities such as street lights, shopping malls, playground and other recreational facilities would be in place very soon.
“Penbrook Homes will commence building on its second phase where houses of different configurations and designs will be built to suit the taste of intending clients,” Mbang said. The current land sale on the first phase is done without bias, as the estate is designed to accommodate and provide housing needs to the ever growing middle class.
He disclosed that clients on the first phase would be allowed to build on their specifics, but must be standard. On the level of interest, he noted that the project which started just a month ago had attracted a host of clients who were enthusiastic about the project.
“We will be building block of flats, duplex (detached and semi-detached) and selling at affordable prices to our clients,” he said.