Tetramanor delivers N600m Lagos TM Gardens

An indigenous real estate firm, Messrs Tetramanor, has joined scores of estate developers who are desirous of bridging housing deficits in Nigeria, especially Lagos State, where accommodation still remains a daunting task to the stakeholders, by delivering a new residential project targeted at the middle-income earners in Lagos State.

Known as “TM Gardens”, the newly commissioned project, valued at about N600m is located at Olaleye New Town, Iponri, Surulere, Lagos.

The project, which was delivered in record time despite the prevailing challenges, was introduced into the nation’s real estate market was one of the developer’s efforts towards reducing shortfall of quality units of housing in Nigeria.

The project is a 14-unit home, comprising of eight town houses, two units of maisonette/penthouse and four units of condominium.

While the Town House, which has four bedrooms en-suite with maids rooms and private backyard is offered at N56.7 million, the maisonette/penthouse with 4- bedrooms en-suite; a study and penthouse garden goes for N54.5 million.

The condominium having three bedrooms en-suite, master’s bedroom with walk-in closet, and large kitchens sells at N36.3 million.

Other features of the estate include common areas of bush-bar for hanging out and a garden for relaxation, with a view to foster a real community.

Services provided are security, backup power, treated water supply, landscaping, cleaning of common areas, waste disposal.

According to the Managing Director of Tetramanor, Mr. John Beecroftthem, the finished units are fully completed to high standards, tastefully finished with POP ceilings, vitrified & granite tiles, vintage PVC French windows for soundproofing, high quality kitchen cabinets and wardrobes, and sanitary fittings.

But as at the time of unveiling the project, Nigerian Tribune gathered that 11, out  of the 14 units had been sold.

At a brief but well-attended ceremony within the precinct of the new estate, subscribers into the project hailed the developer’s stride of timeliness and quality finishing, adding that, the project surpassed their expectation, urging the developer not to compromise their standards.

In its response, Beecroft said that delivery of the TM Gardens was in fulfilment of his company’s promise that “we will not compromise our standards for any reasons whatsoever, we will not extort our clients in order to make profit, and we will not sell to our clients’ spaces we are not willing to live in ourselves”.

He also used the opportunity to introduce another project in the pipeline – TM Meadows.

It will be a 45-unit multifamily estate, projected to cost over N1.5bn for multifamily buildings and will be sited at Ebute-Metta on Lagos Mainland.

The project, which is still at the conceptual stages of design, construction is planned to start either by the end of 2017 or first quarter of 2018.

According to Beecroft: “We are still committed to develop more projects on the mainland to alleviate the housing shortfall for our target market” and “are looking to applying all relevant lessons learnt from our previous projects towards making TM Meadows a huge success as it is part of our continuous improvement culture.”

He added that despite the current economic challenges, the company hopes to deliver TM Meadows with the same quality as TM Gardens, but at a much lower price point – between N25 million and N45 million depending on the type of unit.