ZIMbabwe

Bearings Private Limited


INTRODUCTION


The company which is based at the above mentioned address was established in 1988 under registration number 502/88.

The directors are also the sole shareholders of the company and are the same as those who operate Zimbabwe Bearings Private Limited.

This is a property management company with an interest in a 6000 sq metre industrial buildings Complex in Msasa, Harare, shops in Bindura and residential properties in Harare. The management of properties entails among various other activities; preparing leases, collecting rents, reviewing terms and conditions of leases, letting properties, and carrying out maintenance work. A firm of registered Estate Agents assists in undertaking some of the specialized responsibilities of running the company such as carrying out valuations for the determination of rents and identifying suitable tenants.

Our sister company, Zimbabwe Bearings Private Limited whose business concerns the distribution of roller bearings is also located at the above mentioned premises.

We are intent on undertaking this work under an existing company which will be the Special Purpose Vehicle for this business. The company established, will conduct an assessment of the property together with any developments thereon; following which, a programme will be agreed with the client on:

  1. How the property maintenance is to be managed and scheduled;
  2. Development projects that could be undertaken to enhance the investment value of the property and the manner in which these could be undertaken, phased and funded;
  3. The revenue earning potential (for non -owner occupied properties).

The property maintenance section of the company would then undertake regular maintenance on all properties contracted to the company. This would involve monthly Inspection of all properties, planned maintenance schedules established for each property including replacement of items after an agreed period such as plumbing and electrical fittings, repainting or re-facing of buildings on all agreed cycle development of the property around each building to ensure that it matches or enhances the appearance and value of the building.

We have reached agreement with our Estate Agents in Zimbabwe for them to partner with us under our new unit which will carry out the services mentioned above once the implementation of our project begins.

Most Zimbabwean firms investing in property establish their own property management divisions but this is not available to individuals who generally use the services of Estate Agents.

Organisations using internal property management divisions are often incurring higher costs than necessary as the internal department is not part of the core business and absorbs management time on issues that do not contribute to the earnings of the company.

Individuals often express the feeling that their properties are not being maintained or managed to their satisfaction and the value of their assets is not being protected as a result.

Therefore, a niche exists in the market for a company offering property investment, maintenance and management services.

PROJECT DEVELOPMENT: INVESTMENT ADVICE AND BROKING
PROJECT DEVELOPMENT

Geoterre Zimbabwe Private Limited, another of the promoter’s companies will undertake project development using contracted skills where necessary. The company will retain the project management using in-house resources but will contract out allbuilding and development.

For maintenance contracts, fees will be set at the start of each contract based on work to be undertaken whereas for development projects, a percentage of the value ofdevelopment costs will be charged

INVESTMENT ADVICE AND BROKING

Geoterre Zimbabwe Private Limited will also undertake investment advisory services for clients on sourcing of properties for clients. This will include working with clients to:

  1. Find properties that match the clients' needs, income and investment profile;
  2. Sourcing funding for these if applicable and in the best interests of the client;
  3. Negotiate the terms of the funding and structure these in the best interest of the client.

Where clients require a portfolio of investments to be undertaken, full risk profiling will be done and agreed with each client and a portfolio compiled in line with the risk level and profile acceptable to the client. Fees will be charged on a percentage of the project cost basis agreed with each client at the commencement of each contract.

WORK SPACE 2020

Recognizing that the work place is in a state of transition, with effect from the beginning of April 2018,we shall offer office space sharing at our premises here in Msasa in line with the theme of Work Space 2020 .

Our up-market office facilities of varying description are offered based on our daily, weekly or monthly competitively priced rates for the usage of boardroom, conference rooms, video conferencing rooms, telephone-taking, photocopying, typing, typing, teas and many more services.Contact us with your all inquiries and you shall not be disappointed with our quote.

ADVANTAGES OF THE PROJECTS

The key advantages the project will deliver to clients are:

  1. Facilitating higher income investment;
  2. Protection of the value of assets through ensuring that these assets are correctly maintained and developed;
  3. Lowering the cost of maintenance as the costs of skills will be recovered over a broader base than in-house maintenance departments would allow and
  4. Opening a broader range of investment and income generation options to clients.

COMPETITION

Of course there are other players in the market but there are a lot of opportunities which have arisen presenting comfortable space for everyone intending to participate in the sector.

PROFITABILITY OF THE BUSINESS

The shortage of properties against the background of high demand will in the short term, see rentals and other income rising fast again until the macro economic fundamentals in the economy as a whole have been adequately addressed.


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