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Cruxstone, LSDPC unveil The Autograph apartments

By Chinedum Uwaegbulam
08 November 2021   |   4:03 am
The momentum in the construction industry, particularly in Lagos, appears to be shifting to extended stay apartments, with the commencement of The Autograph in the metropolis.

Proposed The Autograph Extended Stay apartments in Victoria Island, Lagos

The momentum in the construction industry, particularly in Lagos, appears to be shifting to extended stay apartments, with the commencement of The Autograph in the metropolis.

The Autograph Extended-Stay, which is being promoted by Cruxstone Development and Investment Limited in partnership with Lagos State Property and Development Corporation (LSDPC), offers willing investors opportunity to own apartment units managed by a reputable hospitality brand and earn appreciable income upon operation.

The project unveiled to investors last week in Lagos, consists of a collection of exquisite suites of studio, two bedroom and three bedroom apartments located at the Iconic Towers in Victoria Island. The apartments target a diverse mix of guests with a long-stay requirement, in need of self-contained, safe and secure accommodation, underpinned by accredited standards of hygiene.

Global extended stay hotels market has changed in recent years, following mass disruption and demand shocks in the hospitality sector. It is the fundamentals of the core product, which has proven the sector’s resilience due to consumer preferences and changes to business policies.

LSDPC Managing Director, Har-Yusuph Dhikrullah, an architect, said the union between both parties started four years ago and meant to provide standard living environment for Lagosians.

While lauding the company for its professionalism, he said the relationship between both parties has been cordial and produced good products for investors.

Managing Director, Cruxstone Development and Investment Limited, Dr. Adetoro Bank-Omotoye, explained that extended-stay apartments also known as long-term stay hotels are beneficial to people who need to stay for a week or longer, such as businessmen on extended trips, families on long vacations, or people who are searching for more permanent accommodations.

The Chief Investment Officer, Dr. Bolanle Golden, said the project is a seamless transition to upscale living with no maintenance obligations and guarantee returns on investment with minimal 60 per cent occupancy rate.

He disclosed that the apartments come with self-serve laundry and in-suite kitchen, which makes them cost-effective and convenient alternative to renting a traditional hotel as well as offer a home-away-from-home style.

According to Golden, each of the apartments has generous studio space with en-suite bathroom, living area, stylish ceiling designs, modern fitted kitchenette, fully furnished bedroom and electronic appliances.

“The apartment boasts of accessible WiFi and other fittings including the latest air conditioning system, wardrobe and smart features.

“Mortgage facilities and early equity release options are available to unit owners, while investors will hold a gold card, which allows them, as preferred customers, to get discounts for all they purchase at the property. Unit owners would also enjoy a free week stay, without having to pay and can be at any time desired, in the year,” she added.