I SSUE 7 - APR I L 2015

NEWSLET TER

contentstable of

03 troloppe News

05

06

07

08 local featured properties of the month

09 international featured properties of the month

- nmrc says market not yet ripe for single digit interest rate on mortgages.

- amfacilities, cluttons partner to deepen global best practices in real estate services

- lasalle kicks off £20om student digs spree withcampbell deal

- new york’s one world trade center up for $3bnsale

- major global trends to drive growthopportunities in africa's real estate market

- aprirose real estate investment has snapped upthe 3m office block in bracknell for more than£70m

appointments & partnerships

04 real estate events

I SSUE 7 - APR I L 2015

board of directors

OladapoEgbeyemi is an

Accountant and the Chief

Executive Officer of Worthwhile

Ventures Limited, a trading

concern and owners of Locks and

Switches. He graduated in

Accounting from the University of

Lagos in 1985, starting his career

as a banker with Nigeria

International Bank (Now Citibank

Nigeria Ltd) in 1986 and later

moved to Chartered bank Limited

(Now IBTC Chartered) as a

pioneering member of their team.

He left commercial banking in

1994 Commercial Trust Bank as a

deputy general manager of

Commercial Trust Bank, in 1994 to

start Worthwhile Ventures as the

MD/CEO.

He sits on several boards including

Cornerstone Insurance Plc, Sloane

Communications Limited and

Goldbanc Management Associates

Limited.

Mr Akin Osinbajo, brings in a

wealth of legal experience to the

board, as former Attorney General

and Commissioner for Justice of

the Ogun State Government of

Nigeria. He is the Joint Managing

Partner of Abdulai, Taiwo & Co. Mr

Osinbajo has represented several

international clients in major cross

border commercial litigation and

has assisted several international

and local clients in analysing,

evaluating and advising on various

claims and litigation as well as

rendering reports on the

prospects and options available.

The Berkeley Group is the leading UK property development company, specialising in building homes and neighbourhoods with a focus on London and the South East. The Berkeley Group is made up of four autonomous companies: St George, St James, Berkeley and St Edward. They are publicly-owned and listed on the London Stock Exchange as a FTSE 250 company.

They were voted Britain's Most Admired Company across all industries in 2011 and Housebuilder of the Year from 2010 to 2012 and won the Queen Award for Enterprise, and have come top of the Next Generation benchmark for the last eight years, which ranks the UK's 25 biggest housebuilders on sustainability. Troloppe signed an agency agreement to act as agents to sell and promote properties across their portfolio.

Cushman & Wakefield was founded in New York, N.Y., on October 31, 1917, by brothers-in-law J. Clydesdale Cushman and Bernard Wakefield. Expanding first throughout the United States and then globally, today Cushman & Wakefield has approximately 250 offices in 60 countries, employing more than 16,000 professionals who deliver quality services to its diversified global client base. Troloppe Property Services signed a co-broker agreement with Cushman & Wakefield, a pioneering agreement within the local property services industry.

news ISSUE 7- APRIL 2015

ULI Europe Real Estate Trends Conference and Dinner:

Date: 18-19th, June 2015Venue: RBS, Bishopsgate, London

London Real Estate Forum

Date: 10 – 11 June 2015Venue: Berkeley Square, Mayfair, London

Cityscape global

Date: 21 – 23 September 2015Venue: Dubai World Trade Centre, UAE

MAPIC – The International Retail Property Market

Date: November 19-20th, 2015Venue: Palais des Festivals, Cannes, France

AFRIC GRI 2015

Date: 21-22 April, 2015Venue: Hyatt Regecy, Johannesburg, South Africa

real estate events

Real Estate Unite – Africa's Property Market

Date: September 29-30th, 2015Venue: Eko Hotel, Victoria Island, Lagos

In a very strategic move to deepen global best prac�ce and professionalism in its real estate service offering, Alpha Mead Facili�es Management and Services (AMFacili�es) has partnered with Clu�ons LLP, giving birth to an AMFacili�es-Clu�ons joint venture firm for premium services.The new company simply known as 'Clu�ons Nigeria' is Alpha Mead's response to the growing sophis�ca�on of real estate assets in Nigeria and the demand for best-in-class services in a very compe��ve and challenging business environment.Femi Akintunde, CEO of AMFacili�es, said at the launch of the partnership in Lagos, that the decision was to raise the standard of property management in Nigeria and also to respond to the dire need to deliver best prac�ce to the Nigerian market, especially as Nigeria increased its dominance of the sub-Saharan African economy.

“As a facili�es management company that is leading in the delivery of best prac�ce to the African market, many of our clients have asked us to venture into real estate services so we can replicate the capacity we are currently demonstra�ng in the FM industry. But we resisted that tempta�on, deciding instead to partner with a renowned brand like Clu�ons to bring that quality of real estate service that the Nigerian business space is looking for,” he said.It is our hope that this will help to raise the standard of professional prac�ce, boost confidence and a�ract more interna�onal real estate investors to Nigeria.”Clu�ons is an interna�onal real estate services provider that has been in opera�on for 250 years, with strong presence in 50 countries of the world.

Gladwin of Clu�ons LLP disclosed further that they were in Nigeria because they iden�fied an opportunity, no�ng that “Lagos is the gateway to West Africa and having a strong presence here is an important step in strengthening our established global pla�orm; Nigeria offers us the opportunity to leverage our 40-year history in the Middle East, linking together two of the most dynamic regions in the world. We aim to create an investment and knowledge bridge, offering investors, mul�na�onal organisa�ons, banks and developers our real estate exper�se.” Chuka Uroko

nmrc says market not ripe yet for single digit interest rate on mortgage

Mortgage loan seekers wishing to get single digit interest rate through the opera�ons of the Nigerian Mortgage Refinance Company (NMRC) are going to have to wait a while.

Authori�es of NMRC have said, though it is a private-public partnership between the government and the private sector, the company operates as a private sector-led ins�tu�on, relying on the market to determine interest rate on mortgage loans.NMRC was set up to help lower the funding cost of mortgages and promote the affordability and availability of good housing for working Nigerians by providing mortgage lending banks increased access to liquidity and longer term funds in the market.

Right now, there are also challenges from the supply side, with a lack of sufficient housing in the market.The CEO assured that whatever the present rate, their desire was to drive it down to a single digit, disclosing that they were doing as much as they could to achieve that, and had several ini�a�ves on-going aimed to help achieve it.He also noted a need for public awareness and sensi�za�on of the func�ons of the NMRC to correct misunderstandings in the market even among the prac��oners themselves.

“Admi�ng concerns out there in the public domain about the delay in effec�ve take off of the company, the CEO assured “we are closer than we were before; this company was set up to do refinancing, but we recognize that the market needs to be developed from the construc�on side. So, we're taking a lot of interest in what is going on in the construc�on industry, we need to ensure that we bring down house prices to an affordable level”.Source: Business Day

AMFacilities, Cluttons partner to deepen global best practice in real estate services

The Indian investor has signed a deal with M&G Real Estate to place under offer the European headquarters building of US mul�-na�onal conglomerate 3M

(pictured) at a yield of around 7.5%.M&G has held the asset in its long-term Secured Property Income Fund for almost eight years since paying just over £92m for the building in 2007.

The fund manager appointed agents at Cushman & Wakefield to sell the building last month on an off-market basis.Technology giant 3M funded the construc�on of the 172,000 sq � building before agreeing a 22-year £58m sale-and-leaseback deal with Prestbury Investment in 2001.The building, which is let to 3M for a further 10 years at an annual rent of £5.25m, is located on the Amen Corner business park, opposite Hewle�-Packard's UK headquarters, and has the poten�al for further development given the low density of the site.

Bracknell is undergoing a major regenera�on programme, led by Legal & General and Schroder UK Property Fund's £200m town-centre scheme, which will comprise almost 600,000 sq � of retail and leisure space.The redevelopment has a�racted several office investors to the area, including Cordea Savills, which last year bought the 70,000 sq � Greenwood House, where it is planning a major refurbishment.

M&G is currently in the process of selling another Thames Valley office asset a�er appoin�ng JLL to market Apex Plaza in Reading for a guide price of more than £100m.Aprirose last year sold the 115,000 sq � Crickhowell House office in Cardiff for £40.5m in order to shi� its equity into other high-yielding assets. Later in the year, it bought the Grosvenor Victoria Casino in Edgware Road, west London, for £55.5m.

Cushman & Wakefield acted for M&G. All par�es declined to comment.Source: Property Week

Aprirose Real Estate Investment has snapped up an office block in Bracknell for more than £70m in the largest deal in the Berkshire town for a decade.

Major global trends such as rapid urbanisa�on and demographic changes are to drive growth opportuni�es in Africa's real estate market over the next five years, a new PricewaterhouseCoopers (PwC) report has revealed.The report also highlights industrialisa�on, technology and infrastructure gap as major growth drivers, acknowledging that exis�ng and emerging trends shaping the 'Africa's opportunity' for investors' are quite significant and spans through the real estate value chain—residen�al and commercial inclusive.Ci�ng the growing demand for high-quality retail, office, industrial space and residen�al apartments in most African markets, the report predicts that as interna�onal and local occupiers respond to new economic opportuni�es, the need for private investment on a grand scale will certainly soar.In addi�on, the lack of local funding for major infrastructure projects – a major limita�on in Nigeria's real estate sector – is also expected to create a pla�orm for new private partnerships with the public sector in pushing the market to a new height.According to the report, these prevailing opportuni�es may lure more specialist investors into the market, with analysts projec�ng about 20 percent net annual returns from inves�ng in shopping malls, office blocks or industrial complexes in most countries across the con�nent.“Economic growth, improving poli�cal stability and ongoing investments in infrastructure are opening up previously inaccessible markets,” Ilse French, Real Estate Leader for PwC Africa, said in a statement accompanying the report.French notes that with real estate investors around the world struggling to find value and returns at a �me when core property is becoming overpriced in almost all markets; African markets such as Nigeria, are now of increasing interest and a major transforma�on in its real estate landscape is imminent.

Odinaka Mbonu

Major global trends to drive growth opportunities in Africa's real estate market

LaSalle kicks off £200m student digs spree with Campbell deal

LaSalle Investment management has embarked on a £200m-plus drive in the student accommodation market with a £60m investment in a six-strong UK student portfolio owned by Campbell Property. The investment brings LaSalle's total stake in Campbell to around £100m and will double the number of schemes in Campbell's student accommodation portfolio to 12, and raise its provision to 1,500 beds.

“The student accommodation market still has some excellent opportunities and Campbell Property offers us just one such opportunity,” said Andrew Bull, fund manager at LaSalle. “We're a big supporter of the team at Campbell and this will not be our �nal investment.”

The new schemes include the £16m redevelopment of Park Student Village in Sheffield, which was originally built as the athletes' village for the 1991 World Student Games. Campbell Property will begin work on the 447 rooms within weeks, with completion scheduled for the beginning of the new student year next September.

Other schemes set to begin on-site include the 108-room Hosiery Factory in Leicester and a £1.5m conversion of Kingsway House in Portsmouth. The group is also set to complete purchases on new sites in Leeds and in Uxbridge, west London, and is currently searching for projects in Birmingham, Nottingham and Plymouth.

As well as developing new schemes, Campbell Property, which specializes in boutique and bespoke students apartments, is also considering the sale of existing completed scheme in the portfolio to help fund the development pipeline.

Source: Property Week

ew York and New Jersey governors mull sale of

Nskyscraper as part of proposed shake-up of Port Authority

New York's One World Trade Center, one of the world's most iconic skyscrapers, is being lined up for a $3bn (£1.98bn) sale as part of an audacious bid to reform its ownership.

New York governor Andrew Cuomo and his New Jersey counterpart Chris Christie are plotting a huge shake-up of the Port Authority of New York and New Jersey that would involve the sale of its sprawling real estate holdings.

These include the World Trade Center scheme in lower Manhattan, where more than 2,700 people died on 11 September 2001 following terrorist attacks. The site is now home to the new 3m sq ft, 104-storey One World Trade Center, which saw its �rst tenant Condé Nast move in last November.John Degnan, Port Authority chairman, said it was not clear how the plan would be implemented The authority could pursue outright sales, lease the properties or partner with private companies. But Degnan warned that bond covenants could complicate any sale of its assets and that it could take years to arrange the sale of the authority's 90% stake in One World Trade Center. The Durst Organisation owns the remainder.

A well-placed New York source cast doubt on whether the plans would ever come to fruition. “The notion of selling the whole site is a long-range pipe dream,” he said.“The process would be unbelievably fraught. Port Authority insiders acknowledge it could take years to sell merely its 90% stake in 1WTC.

One World Trade Center, worth at least $3bn, is currently 61% let. The Port Authority and Durst have projected it will be 95% let by 2019.

The authority also owns a site for a �fth tower across the street from 4 World Trade Center that it has long planned to sell.

Source: Property Week

New York's One World Trade Center sized up for $3bn sale

Mekunwen Road, Ikoyi, LagosPrices from $68,000 - $85,000

12 units of very well appointed , modern 2 & 3 bedroom apartments and penthouse, located on the quiet Mekunwen Road.

Property Features

· Modern Fi�ed Kitchen

. Fully Fi�ed Gym

. Swimming pool

. Residents Club House

Regency Towers Temple Road, Ikoyi, LagosPrices from: $120,000 P.A.

Charming residen�al development built to a very high standard, just moments away from the Kingsway road with access to road networks across Lagos. This property has a long list of modern conveniences and is designed for the most discerning of residents.

Property Features

· Passenger li�s

. Gym

. Swimming pool

. Manicured gardens

. Tennis courts

. cctv monitoring

2nd Avenue, Banana Island, Ikoyi, LagosPrice : N600,000,000

A rare opportunity to own a fully detached modern family property built to a very high specifica�on in the heart of Banana Island, Ikoyi

Property Features

· Modern Fi�ed Kitchen

. 6 bedrooms

. Private Garden

. Swimming pool

. CCTV

Titanium Towers21 Gerard Road IkoyiPrice from $1,100,000

An exquisite design of 2/3/4 bedroom apartments

Property Features· Swimming pool. Fully fi�ed gym. Lawn tennis court . Squash court· Children play ground . Fi�ed kitchen.

Coral GardensSobo Arobiodu Street, Ikeja G.R.A., Lagos Price : N160,000,000

Rare opportunity in the heart of Ikeja GR.A, to acquire a 5 bedroom fully detached modern family house built to a very high specifica�on

Property Features

· Fully Detached

. Private Car Park

. Fully Fi�ed Kitchen

. 2 Room BQ

. Excellent Build

Ayoola Cooker, Ikeja G.R.A., LagosPrice: N6,500,000 P.A.

Modern 6 unit apartment building with excellent finishing, consis�ng of 3 & 4 bedroom apartments with great natural ligh�ng throughout

Property Features

· Modern Fi�ed Kitchen

. Video Door Entry System

. Landscaped Gardens

. Swimming Pool

. Large Private Terraces

. Private Garden

. Fully Fi�ed Gym

LOCAL FEATURED PROPERTIES APRIL

VISTA CHELSEA CREEKBa�ersea SW8 4NQPrices from £820,000 – £2,132,000

Introducing Vista, a brand new collec�on of luxurious 1, 2 and 3 bedroom apartments and penthouses boas�ng exemplar specifica�on and unique design, with an enviable loca�on nearby Chelsea Bridge.Property Features

· Striking Architecture· Extensive Outdoor Landscaping· 24 Hour Concierge · Spectacular Views

STANMORE PLACELondon HA7 1BTPrices from £395,000 – £595,000

Located in the London Borough of Harrow, Stanmore Place is an exemplary modern and well established community offering a range of high specifica�on one, two and three bedroom apartments.Property Features

· 24 hour concierge· Award winning landscaped gardens· Residents only gymnasium· Adjacent Jubilee Line access

BEAUFORT PARKLONDON NW9 Prices from £334,950-£1,249,950

Beaufort Park is North West London's most dynamic des�na�on. This thriving new development has been designed not merely as a place to live, but as a community in which residents can enjoy exclusive facili�es and the peaceful atmosphere of beau�fully landscaped gardens and courtyards. Property Features

· Landscaped Parkland· Easy access into Central London· Access to The Spa - Residents health

and fitness suite· Stylish, 1, 2 and 3 bedroom

apartments and penthouses

IMPERIAL SQUARELondon, N12 8QR2, 3, 4 bedroom apartments, houses, penthousesPrices from £499,500 – £1,100,000

Over 75% now sold. An exquisite collec�on of gated 2 and 3 bedroom apartments and penthouses and 3 and 4 bedroom homes fi�ed with high specifica�ons for an unrivalled lifestyle.

Property Features· Large range of high calibre schools· Walking distance to Underground· Excellent Transport to London

ROYAL ARSENAL WATERFRONTLondon SE18 6FBStudio, 1, 2, 3 bedroom apartments, penthousesPrices from £367,500 – £712,500

Waterfront forms part of a dis�nct and contemporary riverside scheme brining Central London design and chic to East London, crea�ng a dynamic new community.

Property Features · Forthcoming on-site Crossrail Sta�on· Deluxe Resident's Spa· Half a mile of riverwalk· Plenty of green open spaces

ROMAN HOUSELondon, EC2Y 5BAStudio, 3 bedroom apartments, penthousesPrices from £4,250,000

Roman House represents a unique new opportunity; the chance to acquire a luxury apartment in the very heart of the City of London, undisputed leader of the world's financial community.

Property Features

· 24 hour concierge

· 90 bou�que private apartments

· Residents-only gym

INTERNATIONAL FEATURED PROPERTIES APRIL

TroloppeProperty Services

AGENCY& BROKERAGEThe team, covers both landlords and tenants across the residential and commercial markets. With a large database of industry specific individuals and corporate twinned with a large database of inventory, we are able to very quickly understand the needs of our clients and find the perfect fit. We enjoy long standing relationships with many of our clients and landlords, and are always happy to meet with new clients to advise on how best to maximize their rental return or budget.

REAL ESTATE ADVISORYWe provide a broad range of consulting services, we understand that out client needs may vary and our experienced team are at hand to provide tailored solutions to their needs. Our professional services include corporate planning, feasibility studies, market studies, due diligence, property tax, litigation, asset review and framework for foreign direct investment.

FACILITIES MANAGEMENTOur FM offers a robust solution drawing on our strengths of operating global procedures and practices, service delivery via our

strong team of qualified professionals in Nigeria and our swift ability to draw on the experience of our international partners whenever the need arises. It is our vision to implement an integrated model covering all Phases of Facilities Management ultimately growing into a pan-African FM solution.

We design and manage Best- class FM Models enabling our clients to concentrate on their core business

MARKET RESEARCHOur market research team, regularly conduct surveys across a wide range of areas in both the commercial and residential markets. They regularly produce market reports that can be used for a wide range of purposes. This information also provides our team members with superior knowledge of market trends, price shifts, occupancy rates and other unique trends. The information provided allows us to provide information useful for forecasting growth and trends in the market.

PROJECT MANAGEMENTOur project management team, with vast experience across commercial and residential

developments provide the much needed support to achieve your dream property or office, allowing our clients to concentrate on their core business. We provide accurate information from financing, to design concept to budgeting and construction management.

PROPERTY DEVELOPMENTBacked by over 30 years of solid experience, our key focus remains on building exceptional properties. We take pride in creating inspirational developments that people can live, work and enjoy. Each of our developments exemplifies our commitment to industry best standards.

VALUATION & APPRAISALWe provide valuation and appraisal services to clients across a broad spectrum. Our valuation advice can provide information to assist with portfolio valuation, single asset valuation, and financial reporting valuation. These services are typically provided to individuals, insurance companies, financial institutions and corporates. Appraisal methods will vary based on the specific needs of the clients.

Detail Delivery Distinction | |

TroloppeProperty Services

+234 (0) 7098821154+234 (0) 16320887-8

16th Floor, Elephant House, 214 Broad Street, Marina, Lagos

info@troloppe.comwww.troloppe.com