adminProperty Reporter
ZIMPOST subsidiary, Post Properties says it is geared to expand its asset base through remodelling its commercial properties to provide trading space for Small to Medium Enterprises.
Post Properties acting managing director Mr Hope Tembo said the company has over 600 properties.
Mr Tembo said there was need for the real estate sector to adjust and align with the new economic order where the SME sector has becoming central to the economy.
As such, Post Properties is remodelling its post offices in Harare, Bulawayo, Mutare and Chivhu to cater for SMEs’ retail shops and offices.
“More post offices will be remodelled to accommodate small businesses. There is need for property developers to consider the needs and character of SME business in their strategies,” said Mr Tembo by email.
Other companies such as Old Mutual have also taken the same route to cater for SMEs as voids in commercial properties continue to increase on the back of company closures with other companies opting for cheaper alternatives.
Post Properties was incorporated in July 2015 in terms of the Companies Act and licensed by the Estate Agents Council of Zimbabwe in June last year to be a fully fledged real estate company offering property management, development sales and valuation services to third parties.
“It was created to sweat and grow the property portfolio of the Zimpost group and also compete in the wider property industry.
“The value of the properties under the unit’s management is $62 million,” said Mr Tembo.
Since inception, Post Properties has so far increased occupancy levels of Zimpost buildings to 84 percent of available rental space.
This is in addition to refurbishment of 70 post office buildings countrywide.
Post Properties has also managed to effect transfer of all freehold properties which were registered under the disbanded Posts and Telecommunications Corporation.
Online Reporter