We've stayed in Lanzarote 3 times now, in 3 different villas. This was probably the best one we have stayed in, in terms of value for money and quality. A great 4 bedroomed villa, with pool. We stayed in a more expensive villa over in Peurto Caler with a heated pool, outdoor hottub etc, which was nicer, but twice the price.
The villa was on the outskirts of Costa Teguise, but within walking distance (30 mins) and driving distance (5-10 mins) of the main resort along with all of its pubs and restaurants. We walked in every morning for breakfast - a lovely walk along the sea front, and highly recommended. A nice breeze, with just enough sun to give you a nice exposure to the sun without getting too hot!
There is a Eurospar 5 mins walk from the Villa for all of your shopping needs if you want to eat in more than out :)
The only thing that could be improved is the speed of the wifi in the villa, but if you have a 4g phone with data you will be fine.
We wouldn't hesitate to go back again to this villa if we were to stay in Costa Teguise again.