Charter House project to commence in Q4
RYAN CHIGOCHE
Property investment and development concern, Mashonaland Holdings (Masholds) says works to convert Harare’s Charter House into a hotel is now expected to commence in the fourth quarter of this year after its Chinese partner failed to obtain approvals to send a technical team to Zimbabwe due to Covid-19 travel restrictions.
Initially, Masholds had targeted Q1 of this year to convert Charter House to a boutique hotel. But it was delayed by the Covid -19 pandemic through the enforcement of lockdowns restrictions.
Mashholds managing director, Gibson Mapfidza said the property concern would look at other possible ways to derive value from the property in the event that the Chinese partner, Touchroad International Holdings Group failed to commence works in Q4.
“The Charter House site works for the conversion of the building to a boutique hotel, unfortunately, continues to be delayed by the Covid-19 pandemics.
“The Chinese operator, Touchroad International Holdings Groups, have not been able to get their government approval to send their technical team to commence works as Zimbabwe is considered high risk for the Covid-19 pandemics.
“We are hopeful that given the recent revision of lockdown restrictions measures by President Emmerson Mnangagwa from Level 4 to 2 our Chinese partner will now be able to get the necessary approvals to commence works soon,” Mapfidza said.
Meanwhile, Mashonaland Holdings Limited as the property owner has discharged all its obligations as per the Memorandum of Understanding.
They obtained the Change of Use permit from the Local Planning Authority, in this case, the City of Harare back in November 2019.
The multi-story Charter House, which towers above quite a number of mostly empty high-end properties in central Harare, is one of the oldest real estate properties in the capital.
However, it has not been spared by an exodus of businesses from the central business district due to congestion and an influx of informal businesses.
Many other buildings within this zone have also been earmarked for reconfiguration into other uses, such as residential properties.
The return to a Level 2 lockdown with normal business hours has been enthusiastically welcomed by all business sectors.
