Services
Real Estate
Real Estate Agency Services
This includes all types of property related transactions such as site selection, sourcing of property, sourcing of tenants, property marketing, structuring of transactions. Services we provide here, basically, are two-fold. First, we handle Sales Transactions for Property Owners who are willing to sell their Property [Bare Land or Building] and also, we assist Clients who have interests to buy Property. Second, we handle Tenancy Transactions for Landlords in need of Tenants and also, assist Clients who want to rent a Property. Our Real Estate Agency Services has a strong bearing when it comes to negotiating the best possible deal for our Client as would best suit our Client’s interest, whatever that interest might be.
Property Developments
Auction Basic Company Limited has some Property Developmental Projects ongoing. Recently the Company just concluded renovations and refurbishment of Grace Apartments at Plot 18, Williams Onoh Street, Chevy View Estate, off Chevron Drive, Lekki, Eti-Osa Local Government Area of Lagos State; to contribute its quota to satisfy the needs by Nigerians for good luxury and serviced Residential Apartments.
The Company has some Projects in the preliminary stages for construction of a Mini Estate for Low Income Earners to “Own A Home” which would be unveiled soonest.
Business Model A strong commitment to maximising profit margins and returns on equity shapes the Company’s planning and decision-making processes. The Company believes it achieves higher profit margins and high returns on equity through: a) Aggressive project cost management. b) Land acquisitions in prime locations at good value; or Long Lease of a Big Building. c) Active capital management. d) Speed of execution. e) Sophisticated and proactive sales and marketing teams. Advanced In-House Design, Sales, Execution, Service And Hospitality Capabilities Key to the Company’s financial success is its ability to generate strong sales on units in a project from launch. The Company has a number of dedicated in-house teams, including Sales and Marketing, Design, Project Management, Customer Relationship Management and Acquisitions, which are instrumental in every step of the design, construction and sales process. Auction Basic Company Limited also has a business model based on a phased strategy of ‘Buy’, ‘Design’, ‘Sell’ and ‘Build’, supported by constant
customer care and close control over the development process to ensure each property is of the highest quality possible.
The Sell Phase
During the ‘Sell’ phase, the Company contracts to sell a certain proportion of the units in the development to customers ‘off-plan’, in managed stages, following its launch to the public.
From the first expression of interest from a potential customer, the Company implements its customer relationship management process. The Company has dedicated sales offices supporting customers’ needs. For example, it provides potential customers with ‘3-D walkthroughs’ and model apartments in order to give them tangible ‘living experiences’ of products.
The Design Phase
Once the Company has secured development rights and has contracted to purchase land for a particular development, the design phase begins. The objective of this phase is to create a development design that represents the Company’s luxury brand and optimizes the commercial viability of the development.
The Buy Phase
In this phase, the Company actively seeks to purchase land in prime locations. When selecting land, the development team considers a number of factors, including its location, whether it has scenic views, its proximity to amenities, the infrastructure availability and its potential investment appreciation opportunities.
The Build Phase
The final phase of the Company’s business model is the ‘Build’ phase. Construction is provided by external contractors in two phases:
a) An initial contract for enabling works.
b) A subsequent contract for the main works.
Project Execution and Management
The Company’s project execution and management relies on a two-pronged approach of:
a) Outsourcing project design and construction to external contractors.
b) Maintaining a highly qualified team of internal engineers, architects and design professionals, who are intensely involved with the entire design and construction process.