Berkeley Place on the market
BULAWAYO renowned mansion hotel, Berkeley Place, is now up for quick sale amid indications that international investors in the tourism and hospitality industry are already jostling to buy the property.
The 42-roomed estate is a towering double storey commercial building located in an eastern direction from Bulawayo Main Post Office, which was predominantly used as a boarding house. It sits on a 1388 square metre tract of gently sloping land and contains a reception, kitchen, restaurant, hair salon and beauty shop, massage parlour, and staff quarters; among other modern boarding facilities. It is at 71 Josiah Tongogara Street, Bulawayo and is valued at US1,93 million.
According to Sentrail Investments (Pvt) Ltd, a local online brokerage firm, the property is still in pristine condition, but only under-priced to go so that the former proprietors could concentrate on a range of other growing local investments. The residence is serviced with municipal water, and is both electric and solar-powered.
Speaking to the Media on the sidelines of Sanganai/ Hlanganani — World Tourism Expo at ZITF in Bulawayo, Director of Sentrail Investments (Pvt) Ltd Mr DZ Isheunesu said “as a fast-growing brokerage firm, we chose this grand occasion to physically interface with the investment markets in our corporate cause of connecting buyers and sellers. We’re posting our local market offers to the international tourism and hospitality market; and mind this is effectively Africa’s Premier Business Exchange. We’re recommending investments in local real estate, too. Talk of Berkeley Place; it obviously tops because it is immaculate and ideal if an investor is seeking guaranteed, highest and quickest returns on their local investment”.
“Although the real estate market fluctuates, it is a stable investment that continually increases in value. Compared to the stock market, which is a highly volatile investment, real estate is not prone to frequent market swings or inflation. Real estate assets are typically the best inflation hedge available. Buildings will grow in value with inflation, cash in the bank will not. Its buying power will actually be eaten away by inflation. Worse so, economic experts expect that inflation will be quite high in the coming years.
“Properties don’t immediately change in price based on capital contributions or political volatility, making real estate a safe and stable long-term investment. Another benefit of a real estate investment is that it gives you the opportunity to collect rental income. In general, it is better to put your money into real estate. The main pros for investing money in a real estate property are that you can make a profit off the investment, as the value of the property increases, and you can use the property to generate income in the form of rent. You will also be able to leverage the equity in the home to take out loans for additional investments.
“Unlike stocks, you own real estate outright and can use it as collateral for loans, thus providing more security than owning stock in a company. You also can refinance a property and pull out equity to gain access to cash,” he said.
The sale of a business is uncharted terrain for many people. It’s likely to be something that you only go through once in your life and therefore, vital that you get it right the first time, with the right advice and support.Advertorial.