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Thursday, 5 December 2013

IN THE FOOTSTEPS OF SAM LEVY

Many new property owners aspire to walk in the footsteps of success left behind by such property tycoons like Sam Levy. Depending with local laws these ambitious investors try to change property use to commercial ones and of late nursery schools. Such ambition is noble but should be attached to the wisdom that buoyed renowned achievers. This insight is that getting the most income is something a property cannot do by itself but the owner is also involved
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First and foremost a property investor must have a business model anchored in the ability to attract human traffic. Human traffic are the customers or clients desperately need by enterprises. So its very critical to have a business model and being client-centered must be at the heart of it.

 Here are examples of elements in Sam Levy's Village's business model:
1.Proximity to Borrowdale Rd an artery of the north.
2.A diversified and upmarket mall design that cater for a wide range of retail needs.
3.Deliberate encoperation of major brands as anchor tenants in order to give sustainability to the model.

Sam Levy observed that the rich  north of Harare being vast had most of its parts too far away from the CBD so residents needed a business center that was diverse, central and up market as an alternative. Sam Levy’s Village was therefore located right at the center of the lower north, along an artery called Borrowdale Rd and surrounded by such affluent suburbs like Mnt Pleasant, Vainona and The Rolfe Valley.

New investors should therefore adopt this thoughtful approach by creating a business model first before acquiring a property for commercial use. This model is therefore the key that unlocks value and distinguish the property as a commercial one. This way one can also make some important considerations that can only be made before purchasing the property. One of this is location and its relevance in as far as the envisioned use is concerned.

If a commercial property investor can not create a business model then he or she should consider purchasing residential property. Its far much better because residential properties do not need the owner’s effort to earn money because of the infinite need for accommodation.



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