Middlechase Property In Alleged Property Scam
- By Metropolix ~
- September 30, 2023 --
- 0 Comment
By Adeola Idris
Once again, controversial Real Estate company, Middlechase Property Ltd., is in the news for another unpalatable story as Olayemi, a Lagos based banker has accused the company of failing to construct on a two-bedroom apartment on his behalf.
Olayemi explained he made a part payment of N3.7 million for the commencement of the project to Middlechase Property Ltd. in 2020.
Olayemi also said the reason he committed the sum to the project was because the real estate firm assured him of the opportunity making payment in tranches while construction was ongoing.
Four years after the Lagos resident made payment, however, the project has not witnessed any meaningful progress.
Olayemi said he first contacted Middlechase Property Ltd. in early 2020 after the real estate firm advertised an off-plan property in Surulere, Lagos, referred to as the Mansfield Apartment Project.
Believing in the firm’s credibility, Olayemi expressed his interest by making an initial payment of N1 million, followed by six additional payments totalling N2.7 million made between May and November 2020.
After receiving the payments, Middlechase Property Ltd promised to complete the project and deliver it to Olayemi within three years.
“After committing my funds, I realised it was all promises with no construction progress. Till date, construction has not commenced. When I demanded to know the reason for the delay, Middlechase offered nothing but excuses,” Olayemi said.
Middlechase Property Ltd. would later fail to honour the initial agreement both parties had by informing Olayemi that the apartment, initially priced at N16 million, had become N45 million in terms of worth.
“Although they claimed they would provide a N15 million discount, I had already grown disillusioned. I requested a refund, but they claimed they had allocated funds to other projects,” Olayemi said.
“My request for a refund was not due to a change of heart, but a response to their repeated broken promises. Last August, they assured me of initiating the refund in January, but when the time came, they failed to do so.
“I reached out to their CEO on Instagram and he assured me the payment would be made in May. However, as of now, not a single dime has been refunded. Instead, they made a Facebook post suggesting they were taking action at the construction site.”
However, inquiry on the matter had not been responded to at press time.
Olayemi on Wednesday told a news portal that he received new dates of refund from the company and suspected that the call had triggered the newly sent email.
Interestingly, this is not the first time Middlechase Property Ltd. is being accused of not honouring property related agreements.
On August 9, 2022, it was reported that the real estate firm accepted N14.5 million from a customer but failed to provide him with a house at Mansfield Apartments.
Similarly, on September 8, a publication from FIJ revealed that a customer’s mother passed away while waiting for a N16.5 million apartment from her son.
Middlechase Property Ltd also failed to deliver on its promise during the period.
A call from our reporter to the company’s mobile line, 0818 *** **04 didn’t go through and a sms to the phone number wasn’t replied as at the time of filling this report.
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