Oyster Property Services

Oyster Real Estate is the operating estate agency division of First Mutual Properties Limited that provides professional property services and is licensed under Certificate Number 36/2013 in terms of the Estate Agents Act (Chapter 27.17). The principal activities of the division are property management, facilities management, property development, property investment and property valuations. The property services are provided to various clientele in the market.

Some of the major clients for the firm are the 8 property owning subsidiaries of First Mutual Properties Limited, a public company listed on the Zimbabwe Stock Exchange. Key tenants in the property portfolio under management include the UN Agencies, TM Supermarkets, PwC Chartered Accountants and First Holdings Limited and its subsidiaries

The division manages the property portfolio for the eight property owning subsidiaries of First Mutual Properties Limited, which own 93 properties in Zimbabwe’s major towns and cities: Harare, Bulawayo, Mutare, Gweru, Kwekwe and Kadoma

The property portfolio under the management of Oyster Real Estate was valued at US$137 million with a total lettable area of 122,000 square metres spanning across office parks, central business district (CBD) offices, residential, CBD retail, suburban retail and industrial sectors. Oyster Real Estate carries out property valuations to support lending and insurance purposes

Overview

Our valuation division has experience in a wide range of valuation areas. The team is headed by registered professional valuers who can provide valuation and reports for many purposes including financial reports, secured lending, insurance valuations, litigation, deceased estate valuations. 

We have also acted as expert witnesses in various high-profile commercial leases and similar property related negotiations.

Properties we value

  • Development land
  • Commercial properties
  • Industrial properties
  • Residential Properties

The valuation needs include

  • Purchase and sale
  • Rentals
  • Secured Lending
  • Municipal objections and appeals
  • Deceased estates/appraisals
  • Insurance valuations/claims
  • Financial statements
  • Litigation

Meet Our Property Valuations Team

John Ndere

Professional Valuer, Appraiser

MRICS, MSc FM (UK), MBA (UZ), BSc.  HRUP (UZ), AREIZ  

John is a Professional Valuer registered with the Valuers Council of Zimbabwe for the Property Valuers Profession (Reg no. 0093) with experience as a Valuer/Property/Facilities Manager with more than 10 years hands on experience.

Valuation experience includes extensive residential valuations for market value, rental determination, insurance value purposes, appraisals of deceased estates, market value and rental determination of commercial properties as well as market value of land earmarked for development. 

John is also an Examiner for the Real Estate Institute of Zimbabwe, and is currently studying towards an MSc. in Facilities Management with the College of Estate Management (In conjunction with the UoR (UK).

Esward Munyangadzi

Professional Valuer, Appraiser

MSc Property Investment (UCEM) (UK), AREIZ, NDREE (UNISA)  Valuations, Registered Valuer

Esward is a Professional Valuer registered with the Valuers Council of Zimbabwe for the Property Valuers Profession (Reg no. 0040) with experience as a Property Valuer with more than 23 years hands on experience.

Esward is an Associate of the Real Estate Institute of Zimbabwe

His valuation experience includes extensive residential valuations for market value, rental determination, insurance value purposes, appraisals of deceased estates, market value and rental determination of commercial properties as well as market value of land earmarked for development and acquisitions.

He is a holder of an MSc in Property Investment with the University College of Estate Management (In conjunction with the University of Reading (UK).

Oyster Real Estate approaches each property with the aim of increasing long term value whilst ensuring maximum operating efficiency.  Oyster Real Estate aims to unlock the potential of a property through a combination of experience, expertise and vision. The property management division endeavours to maximise net income through increasing rental income, reducing vacancies, ensuring proper and scheduled maintenance, minimising operating expenses and minimising arrears.

Oyster Property Management prides itself in service excellence. Our team consists of highly trained and experienced property managers capable of making strategic recommendations. Oyster has its own proven IT management system that makes in depth and customised property management and reporting possible.

The division manages the property portfolio for the eight property owning subsidiaries of First Mutual Properties Limited, which own 93 properties in Zimbabwe’s major towns and cities: Harare, Bulawayo, Mutare, Gweru, Kwekwe and Kadoma.

Some of the properties we pride ourselves to manage

Kamfinsa Shopping Mall
Arundel Office
99 Jason Moyo

Property Development

Oyster property development team undertakes projects as a principal for its own account and also for third party investors. The development division focusses on all construction projects, including refurbishments and development consulting success where appropriate.

 

The Oyster development team has proven itself to be amongst the best in the country with an excellent track record. We have successfully completed large scale developments across Zimbabwe.

Selection of Completed Projects

George Square Shopping Mall Refurbishment – Kamfinsa, Greendale, Harare

  • Project Cost – US$1.7 million
  • Completed – June,2012
  • Lettable Area – 4,500 square metres
  • Land Area – 16,090 square metres
  • Anchor Tenant – Pick ‘n’ Pay supermarket, liquor and clothing

Mabvuku Supermarket, Harare

  • Total project cost – US$1.7million.
  • Project was completed in December 2010
  • Lettable area – 2,032.94 square metres
  • Site area – 3,117 square metres

Kamfinsa Cluster Housing Development, Greendale, Harare.

  • Phase 1 – Civil Works, namely road works, sewer and water reticulation
  • Project cost – US$832,152
  • Completed in July 2011
  • Phase 2 – Construction of cluster units
  • Estimated project cost – US$3.0million
  • Status – Work in progress

TM Supermarket, Northend, Bulawayo

  • Total project cost – US$1.3million
  • Project completed in November 2009
  • Lettable area – 1,296.20 square metres
  • Site area – 1,449 square metres