Useful quality of seats (5)

I believe the answer is:

asset

'useful quality' is the definition.
(I've seen this before)

'of seats' is the wordplay.
'of' is an anagram indicator (the answer comes from or 'of' the letters).
'seats' anagrammed gives 'ASSET'.

(Other definitions for asset that I've seen before include "Advantage, strength" , "- - -stripper" , "A thing of value" , "Tessa (anag)" , "Valuable possession, worth having" .)

I've seen this clue in The Irish Independent.

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