The Intelligent Real Estate Marketing Training has been re-scheduled for Thursday, the 15th of September, 2016. Registration is currently on-going. This training is for Real Estate Developers, Real Estate professionals and brokers, Real Estate Marketing and Sales Executives, anyone planning to get into real estate developments or struggling to achieve results in a tough and changing market place.
Do reserve your space today. Call 08096000027 or email firstname.lastname@example.org
Renting upmarket properties has traditionally been the preserve of multinational corporates and large size local companies, however, as the economy continues to contract, with signs of recession looming, companies and families are reviewing their residential requirements and adjusting to the rapidly changing markets.
Most corporates have dramatically reduced their residential budgets, and are now focused heavily on good quality, well maintained but just as importantly well priced residential properties. The days of bloated budgets are over, with most companies looking at issues of proximity, security, total cost of renting which covers the full service cost and professional fees. In addition, dollar denominated rentals which were a norm are now being hit, with most corporate tenants negotiating proactively to benchmark against the official rate. Sensible landlords will have to become more sensitive to the market demands to attract good quality tenants and go the extra mile in maintaining a well kept property at reasonable costs to ensure they don’t have a high turn over or worse long vacancy periods.
A new group of tenants who stand to benefit, are families who are now transiting from larger homes to renting either for the medium or long term as a stepping stone to buying a home in prime areas or for lifestyle reasons. This trend carries a number of benefits from its lower ownership expenses, to flexibility and predictability. In a cosmopolitan city such as Lagos, finding a suitable home to rent which provides all the amenities a good quality lifestyle, in a location that is central to schools, hospitals, entertainment centres, financial institutions, religious centres, and at an attractive rental charge can be a herculean task.
View from the top floor of 1 Cooper Miramar Residences
However, the growing stock of over priced rental properties which in most cases do not offer any special features has given new entrants which address a growing market gap for well priced, efficiently managed and well finished prime properties an edge over their nearest competitors.
The Cappa D’alberto built and newly refurbished 1 Cooper-Mirama Residence, which is strategically located on 1 Cooper road in Ikoyi, and offering a superb collection of 18 units of 3 Bedroom apartments with a sprawling executive penthouse apartment across 10-floors with panoramic views of the Ikoyi metropolis.
Special care has been taken to ensure that tenants are well indulged and have no worries with the presence of a highly efficient facility management services which ensures maintenance of all facilities such as;
swimming pools for children and adults,
fully fitted gym,
uninterrupted electricity supply with 900KVA standby generators,
fully fitted kitchens with all the necessary amenities
Extra large living rooms and bedrooms with modern finishings, which are particularly positioned to provide excellent lighting and ventilation.
The prime address, along with the sensible value pricing and superb presentation of the property, makes a significant difference in today’s market place. Extra security has also been taken into consideration with the provision of modern security devices as well as 24-hour security personnel.
1 Cooper- Mirama Residence is being presented to the market as arguably a superior address, most efficiently priced and presented prime residential accommodation on the Island and ideal for families of high profile local executives and expatriates.
Brand new, ready-to-lease, the fifteen floor Nestoil Towers is a world class commercial building centrally located in the business district of Victoria Island at the intersection of Akin Adesola and Saka Tinubu streets.
Sitting on a land size of 3900sqm on 15 floors, the Nestoil Tower is an iconic structure with 9904sqm leasable commercial spaces.
UNIQUE ADVANTAGES OF NESTOIL TOWER
• Iconic edifice in a fantastic location
• Grade AAA office facilities
• Excellent road network that networks Ikoyi, Victoria Island and Lekki districts.
• Panoramic view of Eko Atlantic City and the Atlantic Ocean which provides a serene, therapeutic environment for work.
• Residential apartments to provide flexible accommodation as maybe required by corporate guests, executives and expatriates.
• A helipad for quick and convenient access to the building by air. We had our first helicopter land on Nestoil Towers here
• A combination of the best companies in real estate have been engaged to deliver on this premier Grade A office towers:
• A reputable contractor- Julius Berger. has built some of the most prestigious residential and commercial properties on the Lagos Island.
• A design firm with a solid record of accomplishment ACCL – known for outstanding contemporary design and best in class architecture
• Raised Floor for underground cabling, and flexible configuration of office spaces. Available on all leasable Office Floors;
• Double Glazed Curtain Wall Systems to minimize solar heat gains;
• Plug And Play Internet Facility;
• Borehole and Water Treatments;
• Dedicated Transformer with 2 units of 1.3mVA and 1unit of 910kVA Generating Sets;
• Total of 4,110 Square Meters of Premium leasable Office Areas available;
• Flexible floor plate from 231m2 to 810m2
• Kitchenettes and storage rooms available per floor
• 8 restrooms per floor (including disabled toilets).
• 4 passenger lifts/Elevators.
• Car Parking Facilities for over 225 cars on 18 split levels;
• A Helipad.
• Restaurant/Café/Coffee Room, etc.
The Nestoil Tower Grade A offices can rival any other commercial development in the world. It is for the best businesses
For more information on our commercial portfolio, please contact 08096000021.
We present below a real life residential project, Oakwood Residences, located on Cooper Road in Ikoyi as a case study to analyse the key success factors that make a good residential investment.
Every serious investor should recognise before committing to a purchase especially in a market with numerous shades of opportunities, that there will always be some good, many terrible, and other marginal properties. Your task as an investor is to dig through the marginal and terrible ones towards identifying the great opportunities. It requires asking the right questions, working with trusted professionals and educating yourself through independent research.
Oakwood Residences, Cooper Road, Ikoyi.
Here are 5 key reasons to investing in a great property.
Ikoyi is still one of the most desirable residential location in Nigeria for the affluent and aspirational class. It will always be an appreciating location as far as real estate prices go. How many times have you heard stories of someone who bought a property years ago and today the property is worth significantly in excess of what they paid. In prime locations, when the market rebounds, typically the rate at which prime locations grow exceed other locations exponentially. In addition, Cooper Road in particular is still one of the best preserved roads, retaining its old colonial charm and serenity. This gives it an added value over other busy or not so favoured locations even within Ikoyi.
2.LOW PRICE. GREAT VALUE. IMMEDIATE EQUITY
Buying off-plan typically gives you an opportunity to buy below the actual market price upon completion. In some cases, developers release an early bird investors pricing to kick start the project, this is usually the time to get the most benefit and room for growth as prices are usually increased as more properties are sold. This property has not yet been launched, and is been currently offered at below average Ikoyi prices, plus discounted further for early bird investors. We think it has a lot of room for growth- at least 30-40% by completion stage. This is a hidden secret for astute investors. It beats having your cash depreciating in a savings account or on low yield assets.
3. HIGH RENTAL YIELD POTENTIAL.
Rent is estimated at N13-15m amounting to approximately 10-12% yield of current early bird and estimated completion prices. Because it’s priced below market price, you can charge a sensible rent and get good quality tenants rather than have the property vacant for long periods of time while waiting for an unrealistic rent like most investors who bought over priced properties. Average rental yields for most investments are approximately 6-8%.
4. FLEXIBLE PAYMENT PLAN AND LOW DEPOSITS.
Low deposit required to reserve Oakwood Residences, gets you into the property ladder in a prime location with minimal stress. The ability to pay over the construction period of approximately 18 months makes a huge difference to some investors ability to get onto an opportunity. Investment is usually about sacrificing, and money usually follows vision. Most investors have found from experience that when they commit to an investment, they become more disciplined about their spending, and even become more creative about finding business opportunities to generate the income needed to complete their property investment which they’ve committed to.
5. GOOD TITLE.
Good title is the bedrock of any real estate investment. You don’t buy bricks and mortar, you buy a secure investment, that contributes to your wealth creation plan. Peace of mind, a sense of financial security and freedom to live the life of your dreams are some of the reasons people invest in real estate, and a good title is the foundation of all those aspirations. At Fine and Country, we stake our brand on this particular factor.
Oakwood Residences comes highly recommended and is an excellent investment opportunity for any serious or aspiring investor, whether to live in or to buy to let.