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George Hotel changes hands |
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Sunday, 23 January 2005 02:00 |
A WELL-KNOWN Harare hospitality establishment, The George Hotel, has been acquired by a local company, FG Investments, for conversion into an upmarket office complex scheduled for opening in early 2006.
A spokesman for FG Investment
s, Lovemore Mangwende, said the hotel ceased operating early this month. Preparatory work for the conversion exercise was now taking place and it was hoped to start refurbishment and redevelopment work by the end of February. Completion of the exercise was expected at the end of the year.
"This will be the biggest and most important development project in the Avondale commercial centre in many years and will provide a major boost to the area and to the businesses already operating there," he said.
Discussions were taking place at present with a number of commercial organisations regarding tenancy of the new complex, including leading corporates such as MultiChoice Zimbabwe and MWEB Zimbabwe. Plans for the new development include a coffee shop, which will be used not only by tenants but by members of the public as another facility for shoppers and others.
"The emphasis in our development will be on creating an upmarket venue that will attract leading corporates and will enhance the Avondale commercial centre in every respect," said Mangwende.
Although he did not wish to disclose the planned expenditure he said it would be a substantial, multi-billion-dollar investment.
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