Filed in Real Estate by on March 21, 2011

Mortgage boost for PH’s Treasureland
Monday, 21 March 2011 00:00 Editor Property – Property

WITH the relative return of peace to the Niger Delta, which has ensured a conducive climate for investment in the region, Afribank Estates Limited has announced once again mortgage facilities for prospective subscribers in the Treasureland estate in Port Harcourt, Rivers State.

The  mortgage facility is backed by Stanbic IBTC Bank and Aso Savings & Loans Plc. The company also disclosed that work on estate infrastructure and facilities are nearing completion.

Treasureland Estate located  on the Port Harcourt- Aba Expressway, about five minutes drive from Eleme Junction, is a high-end brand on the exquisite stable of the developers of lifestyle houses.

Expected facilities on the site include concrete paved roads with concrete drains, electricity and water supply. Other features in the house include a master bedroom, guest room, other bedrooms, dinning room, main lounge, lobby. Others are laundry, store, reception, box room and toilet/bath.

In addition to these features, the Avocado house type has a stair hall. Common areas, including lounges, dinning, stair hall and bedrooms are of  vitrified floor tiles for the Classic option and marble/granite as well as parquet tiles for Luxury option.

Early subscribers are expected to occupy their houses by April 2011, with the first batch of 21 units of houses at the estate recently completed.

The housing units comprise three house types namely: Primrose, Lavender and Avocado.

A statement issued by the company’s Managing Director/, Mr. Charles Njoku, an engineer, stated that, “we are partnering with a formidable commercial bank and a frontline mortgage institution to relieve eligible potential subscribers of the trouble of having to pay at once for a stake in Treasureland Estate”.

Njoku added that the company was also in discussions and considering offers on the estate from the co-operatives of some major oil companies with operational base in Port Harcourt.

He also said that the company  has been enlarged the estate to 217 units of  four and five bedroom detached house, each attached with servants’ quarters .

The estate provides a serene environment for quiet and comfortable family living complimented with an impressive array of facilities and services. It also offers an ideal investment opportunity, which can be used for companies’ guest house, etc, and for suitable rental purposes, which can possibly attract rental income of between N3-4million yearly.

There are various options available that fit either into the Shell, Basic or Classic, to suit specific customer’s preferences.

The different house types are Primrose (4-bedroom detached house) which attracts a price range of N18.5 million – N30 million and Lavender (5-bedroom detached house) which attracts a price range of N22 million – N35 million per unit. Avocado, the premium variant consisting of a 5-bedroom detached house with special features attracts a price range of N28 million – N40 million per unit depending on the preferred option.

Each of these buildings occupies approximately between 648 – 800 square metres land area depending on the type. Each house is provided with complete kitchen cabinet, work-top and ironmongery for basic option and grade A laminate cabinet with granite top finish for the luxury option.

Each finish type has its own characteristics. Shell finish is the lowest option and comes without electrical fittings, floor tiles, wardrobes and security protector. Classic is an upgrade fully completed but without luxury finishes. The floor finish for example is vitrified tiles.

Luxury is the premium finishing type and consists of the highest finishing touches such as marble floor, toilet/bathroom with Galleria Twyford fittings, exotic light fittings and accessories among others.

There is a backup generator for common services, street light and water supply is from borehole with treatment plant. There will be a bespoke recreation centre consisting of a club house with swimming pool, gymnasium, tennis courts and furnished sports bar where the residents can unwind.

The impressive network of tarred roads is lined with drain channels and walkways for pedestrians. The streets are illuminated at night with beautifully clad light fittings. The security system is enhanced with professionally manned security posts located around the estate while corporate guards are on constant and vigilant patrol, and working in hand with dedicated Estate Mobile Police.

There will be a crèche for the daily care of the young ones, clinic to provide medicare and a shopping centre that will be leased out or sold outright to an operator to cater to the immediate shopping needs of the residents. The estate will be beautifully landscaped and with portions marked for parks/gardens as well as children’s play area with equipment.


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