Why new capital seeks investment, living space in The Seattle Residences

Why new capital seeks investment, living space in The Seattle Residences

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In a crowded, oligopolistic and slow-moving market where everybody seems to be doing virtually the same thing, what keep both the market and product suppliers going are product differentiation and efficiency of service delivery.

The Seattle Residences is one of the latest iconic products in the Nigerian property market today. It was not lost on its developers and promoters that the market into which they introduced their product in December 2018 was not only crowded, but also slow-moving, reflecting the state of the economy.

A $32million project funded by Triton Universal Global Concepts Limited, a private real estate investment company, The Seattle Residences comes as upscale luxury serviced apartments offering luxury waterfront living experience with panoramic views of the Lagoon.

It is often said that, in real estate, location is everything. But for The Seattle Residences and its developers, a piece of luxury such as this looks beyond this cliché, which is why today, every new capital in the market for investment or residential purposes seeks a space or slice of its breath-taking offerings.

Located in the heart of Lagos, in the serene enclave of Walter Carrington Street, Victoria Island, Seattle Residences offers fully furnished 3 and 4-bedroom apartments that are perfect blend of modern architecture, indulgent home comfort, state-of-the-art appliances and breath-taking vistas.

Comfort and convenience are major considerations for a luxury-loving home buyer. But a savvy investor takes it further. He considers return on his investment too. On this score, The Seattle Residences does not disappoint such investor.

“The project aims to achieve a yield of 12 percent, some 200 basis points above the average prime mixed-use development yield as at Q4 2018. In deciding the appropriate mix for the project, the developers balanced the risk between long term and short-term tenancy, and the expectation on its total return is commensurate with the property’s current risk profile,” Bidemi Fadayomi, Head of Asset Development at Triton Universal Global Concepts, said.

To achieve these ambitious targets, he explained, the development had to differentiate itself in the ‘luxury’ property market. “Location was critical. But it was not enough to be situated in the high-end locations of Ikoyi or Victoria Island. Security and serenity of the immediate vicinity could not be compromised,” he noted, pointing out that Walter Carrington Crescent, otherwise known as Diplomats Row, home to various consulates and High Commissions, was an inspired choice. “This is, easily, the most secure street in Lagos, if not the country”, he noted.

The location of the waterfront plot itself means that The Seattle Residences enjoys an uninterrupted vista of the Lagos Lagoon on one side and the leafy, well appointed diplomatic buildings on the street facing side.

Besides the usual facilities and services such as  power, water, lift etc which are given in other locations, The Seattle Residences boasts  a concierge,  spa, bistro and houseboat service. For people who love exercises, the small but perfectly formed gym with views of the water traffic of the Lagos Lagoon is inspiration to both body and mind. There is also a boxing gym and yoga classes on offer.

The Seattle Residences offers two main apartments configuration that include 3-bedroom and 4-bedroom plus a serviced 3-bedroom hotel apartment for short-stay services.

The 3-bedroom are  elegant apartments with open and light filled living area, dining room, fully fitted top of the line kitchen, three luxury en-suite bedrooms and a breath-taking terrace overlooking the Lagos skyline which gives option to have it furnished or unfurnished.

The 4-bedroom (penthouse), on the other hand, are  multi-level apartments with  three light filled living areas, dining room, fully fitted top of the line kitchen, four luxury en-suite bedrooms and breath-taking terraces overlooking the Lagos skyline on every floor. This also offers option to have it furnished or unfurnished.

The dedicated 3-bedroom apartment hotel is an elegantly furnished apartment available for short stay with utmost comfort. It has an open and light filled living area, dining room, fully fitted top of the line kitchen, three luxury en-suite bedrooms and a breath-taking terrace overlooking the Lagos skyline.

“With a 24-hour front desk, dedicated concierge service, curated experiences and world class amenities, The Settle Residences are the perfect home away from home, and from our private jetty, explore the beauty of the Lagos shoreline or escape to your very own private beach house,” Fadayomi enthused.
 
 CHUKA UROKO



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