Masholds MD Gibson Mapfidza
MASHONALAND Holdings Limited says it has come up with strategies to cope with occupancy flight from the central business district (CBD), which has been weighing down on its portfolio performance.
Historically, the company’s CBD portfolio weight averaged 70%.
Property investors have been suffering huge loses on the back of business migrating from the CBD for cheaper office space.
Masholds MD Gibson Mapfidza said in the short term, performance optimisation will result in the reconfiguring of traditionally corporate designed space offering it to the SMEs on flexible leasing terms.
“Two buildings were earmarked for this:ZB Life Towers and Chieyedza House,” Mapfidza said.
“We have since implemented this on two floors at Chiedza House,which have been fully taken up.
“The value proposition at Chiedza House speaks to the bottom of the pyramid SME segment.
“Our plan for ZB Life Towers was disrupted by the Covid-19 pandemic.
“The designs are in place,we will keep assessing the market to ensure correct timing for implementation.”
Mapfidza said the long term strategy is hinged on diversification of the portfolio, a move targeted for the next three to five years.
He said the work entails the disposal of non-performing assets, acquisition of strategic land banks developed on a prelease basis in order to achieve the desired portfolio…
