WESTPROP Holdings is now accepting investment into its innovative apartment hotel at Millennium Heights, with investors expected to put in a minimum of US$5,000.
So far, 58% of the fractional shares have been sold since their launch last November.
Multiple investors can co-own an apartment, which will be leased out to clients as serviced apartment accommodation for short-term stays.
The company is now educating customers on the advantages of fractional share ownership in the apartment hotel.
“In Zimbabwe, we have traditionally been accustomed to owning property outright. This approach (outright ownership) often requires significant upfront capital and can be a costly endeavor, especially for first-time investors,” said WESTPROP CEO Mr. Ken Sharpe.
“That is where fractional ownership comes in. By pooling resources with like-minded investors, you can own a share of a luxury apartment hotel like Block 5 without breaking the bank,” he said.
The market is beginning to embrace this concept, with a sizeable number of customers having purchased shares in the branded apartment hotel and appreciating the flexibility of fractional ownership, which reduces risk and makes it more affordable.
“After the first year of operation as an aparthotel, investors can expect returns of at least 8%. However, as property values increase and the hotel’s occupancy rates grow, so too will the return on investment,” he said.
Mr. Sharpe encourages investors to take up this offer to secure their future and that of their children. He believes this is a sure way to achieve long-term, secure investment. With the guaranteed returns, this is undoubtedly a game-changer in the Zimbabwean property space. This offer is the first of its kind in Zimbabwe, allowing investors to enjoy both ownership and rental income.
“Do not miss out on this opportunity to invest in Zimbabwe’s future and secure a share of the profits,” he said.
WESTPROP is finalizing a deal with an international hotel brand currently not operating in Zimbabwe. This brand possesses extensive experience in the marketing and management of serviced apartment accommodations, commonly known as Airbnbs.
Millennium Heights Block 5 will offer amenities such as concierge services and exclusive recreational facilities for residents, including a swimming pool, a children’s play area, and a gym, to name a few.
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