• Thursday, March 28, 2024
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Opportunity for investors as Trinity Towers offers spaces for business, leisure

Trinity Towers

For investors on the look out for a stable and secure environment for investment, Trinity Towers is their next destination. This is a development where there is unity of three towers that have been combined into structural beauty and functionality to offer the best of environments for business and leisure.

Beyond profit motive which is the hallmark of any business or investment, security of such investment is also critical. Every business or investment needs security and an environment where there is stability for it to thrive.  This is just part of the value propositions that Trinity Towers offers investors.

A huge project being developed and promoted by the City of David Church, a province of the Redeemed Christian Church of God (RCCG), Trinity Towers is located in the heart of the fast developing commercial centre of Oniru, Victoria Island, Lagos.

 Feelers from its promoters reveal that the project, which is a unique, innovative masterpiece and a meticulously designed mixed development for commercial and leisure space, will be due for structural completion by the last quarter of 2019.

The  Grade A office complex is within easy reach of Lagos finest commercial and residential environments and has neighbours such as City of David Church, Four Points by Sheraton, Lagos Oriental Hotel, Exxon Mobil Headquarters, The Palms Shopping Mall, The Incubator and Get Arena. It is the first Tri-tower building in West Africa sitting on a transfer beam above five floors.

Upon completion, the development will boast  13,320 square metres of contemporary real estate, spanning 12 floors with parking for 670 cars in the multi-storey car park, 5000-seater concert hall, indoor amusement for children, retail therapy for the shopaholic, two cinema halls, a gymnasium, rooftop swimming pool, helipad, medical centre, café and restaurant, multi-purpose halls, banking halls, and ATM Gallery.

“Projects of this magnitude usually come with a lot of advantages,” Gbenga Olaniyan, CEO, Estate Links, told BusinessDay in an interview.  He explained that, over time, it has been observed that traction on a property increased once nearing completion or upon completion and that had been the case in some of the major projects in metropolitan Lagos.

He added that “an entry into this best-in-class property with an opportunity to adjust to specification with early commitment into long lease option is, indeed,  as good as an outright sale as an adult buyer practically holds the space beyond his life time.”

Estate Links and Knight Frank are the lead marketing and lease agents on Trinity Towers and, according to Olaniyan, the involvement of these two giants in commercial real estate in the leasing of West Africa’s first tri-tower office complex is  a major plus for investors and security of their investment.

There is stability of investment in Trinity Towers which implies that, unlike the common short lease arrangement, the long lease offering serves up security of investment as well as cuts out the cost associated with relocation, new premises renovation and fit-outs.

The appreciation/annuity which this investment assures of means that a ’buy-to-let’ investor will expect to receive direct income as cash flow but over time also will witness capital appreciation as the property increases in value.

“Besides predictability which helps with long term forecasting and budgeting while helping the tenant- owner with-stand economic volatility, there is also strong bargaining power for concessions and improvements. This means that early entrants will be able to dictate, to a large extent, the finishing on their floors as well as alterations within limits”, Olaniyan assured.

According to him, investors will also be able to sell off their leases subject to the consent of the owners of the property, meaning that an investor has the right to the lease he has made.

Another strong value proposition, which the complex offers, is that its long lease cost is negotiable; the long lease term, up to 60 years, is also  negotiable while rent is N125,000 per square metre per annum.

“This is very conservative compared to the market average of N170,000 per square metre per annum for  Grade A properties,” Olaniyan noted.

CHUKA UROKO