Willdale to dispose of 123, 6 hectares of land in Mt Hampden 

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By Alois  Vinga

LISTED brickmaking firm, Willdale Limited is seeking shareholder approval for the disposal of 123,6 hectares of land in the Mt Hampden area.

Dubbed the emerging administrative capital city, vast opportunities are currently lined up for uptake in Mt. Hampden which already hosts the country’s new Parliaments building on the back of plans to utilise the 47 set aside farms for the city’s development.

In a circular to shareholders, Willdale chairman, Cleopas Makoni said the move will see the company unlock its value.

“Subject to shareholder approval the company intends to develop the Haydon pieces of land in the Mt. Hampden area a total of approximately 123,6 hectares into residential and industrial stands and the subsequent disposal of the developed stands to unlock cash flows.

“The company used to extract clay from the targeted land which currently features unreclaimed pits. The proposed development will involve reclamation of the pits to facilitate construction of roads, drainage systems and buildings,” he said.

Under the Development Agreements with Zusammen Private Limited in respect of four pieces of land measuring approximately 123,6 hectares at Haydon as the contractor to achieve the development of the land.

Melrose Construction (Pvt) Limited trading as Integrated Construction Projects (ICP) in respect of land to be subdivided. Furthermore, management is currently engaged in discussions with prospective partners for the development of the Christmas Gift, Gweru pieces of land measuring approximately 12,6 hectares.

“To approve the proposed development of the entire 178,2 hectares of land, Willdale Shareholders are being asked to attend the Company to be held in the Boardroom, Willdale Administration Block, Tenerife Factory 19,5 km peg, Lomagundi Road, Mount Hampden, Harare,” added the company.