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Atlantic Resort, Victoria Island Extension

Grenadines Homes Ltd is glad to introduce you to the “Atlantic Business & Residence Resort” , Victoria Island Annex, Lagos, our world class residential and office towers. Atlantic Resort, away from the maddening crowd and yet within the excitement of the business center of Lagos, Victoria Island. Birthed differently to be the most iconic destination for work, live and play in Africa – a symbol of excellence. This project is located on Water Corporation Drive, off Ligali Ayorinde Street, Victoria Island Annex yet within the excitement of the business center of Lagos.

Conceptualized by the UK arm of HOK, the largest Architectural & Engineering firm in America working in conjunction with ECAD architects. HOK Architects designed the masterplan for Dubai Marina. A 5-Star concept requires the best of contractors to execute that is why Grenadines Homes has pre-qualified leading contractors in Nigeria such as Cappa and D’alberto, Elalan and Julius Berger for the execution of this project. The Atlantic resort will be built on 3.4 hectares with a built up area of land of about 40% comprising 2 residential towers and 1 mixed use towers, the rest of the land will be for circulation, greenery and facilities. The Mixed-used Tower consist office spaces, some recreational spaces and retail spaces with a total floor area of 28,650 squaremeters spread across 16 floors. The residential tower is made up of 1 & 2bedroom apartments, 3bedroom Maisonettes, 1 unit 4bedroom terrace apartment and 2 units 5bedroom penthouse maisonettes. The average sizes in square meters for the 1bed is 113sqm, 2bed is 147sqm and 3bed maisonettes is 244sqm.

Ample parking is provided and conveniently distributed amongst all unit types within the Towers. The 1bed apartment is allocated with 1 parking space, 2bed apartment and 3bed maisonettes allocated 2 parking space each and 4 parking space for the penthouse units, totalling 660 parking spaces for the 3 towers. Each residential unit would have a minimum of one maid’s room except the one bed. All units will have laundry rooms, they are piped for sound, video-entry phones, wired for cable TV, central air-conditioning and electrical pre-paid metres. Common facilities include a security manned lobby, fire alarm systems, sprinklers, intercoms system and 24hours un-interrupted power supply. Brash Brands, the creative branding agency that breathed life into the tallest building in the world, Burj Khalifa Dubai, is defining the unique personality of the Atlantic Resort for attraction, sustainability of value and class for would-be investors and home owners.

YOU CAN BUY AS LOW AS 1 SQM AT ATLANTIC RESORT ON POOL SCHEME AND GET RENTAL INCOME FOREVER.

It’s not just another high rise project, Atlantic Resort is the Beauty and the Brilliance, the Style and the Substance. Currently, the basic average in terms of rental return on commercial / rental properties rank between (8 -10 %). Recently, the new Lekki, Osapa mall to be precise, had 8% rental appreciation for its commercial / rental spaces, kindly put it into consideration that, the aforementioned property is situated at Jakande along Lekki Expressway; an area which by standard is a less valued location when compared to Victoria Island Annex which has a closer proximity to Eko Atlantic, which commands a higher capital appreciation.
Furthermore, the average capital appreciation in Victoria Island between 2011 / 2013 was 16% while that of banana Island rose to 53%. The Eko Atlantic, being a newly reclaimed land would enjoy similar appreciation and possibly higher and as such has an effect on surrounding properties with Atlantic Resort right at the centre,13% capital appreciation is conservatively modest.

Also, recent study shows that the average price for a Grade ‘A’ office, is placed at $900 per square meter. Considering the aesthetics of the design, greenery, top of the art facilities and other amenities. The Atlantic Resort, will be highly recommended as the best in class modern Grade A tower amongst others while working with Cappa & D’Alberto and Brash Brands will further strengthen the equity of the project within its environment and beyond.

POOL OWNERSHIP (OFFICE SPACE)
Here’s the breakdown to invest in e.g.50sqm of the office space at Atlantic Resort, Victoria Island:
1 Sqm = N1, 904,000
50 Sqm = N95,200,000
30% initial deposit = N28,560,000
Balance of N66,640,000 spread within 24months
N2,776,666 monthly.
Projected rental returns per Sqm:
$900 = 1 Sqm
50 sqm = $45,000
$45,000 * N250 = N11,250,000 Annual Rental Returns on your N95, 200,000 investment.
Payout period is 8 years

EXCLUSIVE OWNERSHIP (RETAIL SPACE)
Here’s the breakdown to invest in e.g. minimum 50sqm of the retail space at Atlantic Resort, Victoria Island:
1 Sqm = N1,904,000
50 Sqm = N95, 200,000
10% initial deposit = N9,520,000
Balance of N85,680,000 spread within 24months
N3,570, 000 monthly.
Projected rental returns per Sqm monthly for Grade A retail space:
$80 = 1 Sqm
50 sqm = $4,000 monthly, $48,000 annually
$48,000 * N250 = N12, 000,000 Annual Returns on your N95,200,000 investment.
Payout period is 8 years
Discounted price is available on bulk purchase more than 50sq.m
OTHER INFORMATION
· Design stage: May 2015- Oct 2015 (6 months)
· Tender:March 2016
· Movement to site(Piling): Q3, 2016
· Total Delivery Period: 36 months

We will be glad to provide you with additional information as required.

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