Five years after it purchased the Leopard Rock Hotel, Zimbabwe-focused investment group, Cambria Africa is preparing to sell off the property.
United Kingdom-based independent research company, GECR, says Cambria wants to sell-off its non-core assets including the hotel to raise additional funds to expand its other core investments – Millchem and Payserv.
“Cambria has announced that it requires funding for the expansion of Millchem and Payserv as well as for the group’s working capital, and we expect that this additional funding should come from the sale of its non-core assets, including the Leopard Hotel and certain industrial properties, as well as settlement of its aircraft dispute, and the raising of additional equity and/or debt capital,” GECR said.
Based in Vumba in the Eastern highlands of Zimbabwe, the Leopard Rock hotel was built in the 1940s by the Seymour-Smiths.
The four-star hotel has 4,571 acres of Afro-Montane forest, including 58 rooms and suites, a game park, a casino and a championship golf course.