Business Reporter
CONSTRUCTION of the Radisson managed aparthotel at Millennium Heights begins next week with the groundbreaking ceremony slated for Wednesday morning.
Several Government ministers have been invited to witness the game changing event. Top executives from the Radisson Group will be in attendance. The aparthotel becomes the first such development in a mixed-use development bringing into the play the WestProp theme of live, work, shop and play.
Construction follows the successful introduction of the Seatrite 5 Trust REIT Investment Opportunity and the announcement of the management deal with the Radisson Group, a renowned international hospitality brand.
Shares for the aparthotel are already selling through Nhoro Asset Management Pvt Ltd offering clients unit ownership in the Radisson serviced apartments, allowing investors to part own the internationally branded aparthotel.
WestProp CEO and founder Mr Ken Sharpe is upbeat with the offering.
“We are proud to bring this innovative investment opportunity to the market. The Aparthotel REIT offers a unique combination of affordability, capital growth, and guaranteed rental income, making it an attractive option for investors seeking a low-entry, asset-backed investment,” he said.
Located in the secure, premium residential area of Borrowdale West, Millennium Heights Aparthotel promises to deliver a luxurious living experience, complete with hotel-style amenities such as a gym, swimming pool, restaurant, and concierge services.
“We believe that this investment will not only provide strong returns but also contribute to the growth and development of Zimbabwe’s tourism and hospitality sector,” added Mr. Sharpe.
With an affordable entry point of $500 per unit, investors can expect regular investment appreciation, with revaluations occurring every six months during the construction period. Upon listing on the VFX exchange, market valuation will apply, providing transparent and market-driven valuations.
The Apart hotel is expected to be operational by the end of 2026, with a guaranteed 8 percent yield and potential for double-digit returns. All operational costs will be covered by rental income, ensuring a hassle-free investment experience.
