PROPHET Walter Magaya’s multi-million dollar Yadah Hotel and Heart Stadium are NOT set to be auctioned in Harare tomorrow. There has been a whirlwind of reports, mainly online, that the hotel and the adjacent stadium, which has hosted Premiership matches, are set to go under the hammer at a public auction at Raylton Sports Club tomorrow. The auction will be conducted by real estate firm, Graham & Douglas Real Estate, and about 30 properties are set to be auctioned.
The auction notice was issued under instructions from the Sheriff’s Office of Zimbabwe. However, an official from the company which is conducting the auction told H-Metro yesterday that Yadah Hotel and the Heart Stadium were not going to be auctioned. “The hotel and the stadium are not part of the properties set to be auctioned,” he said.
“The two prime properties set to be auctioned are the Prayer Mountain and a house in Prospect.” The notice was issued under instructions from the Sheriff of Zimbabwe. Among the properties belonging to the prophet listed for auction is Stand 166 Smuts Road in Prospect, a 3.2323-hectare property featuring a six-bedroom house, lounge, dining room, and staff quarters. The property is registered under Planet Africa (Private) Limited, a company where Magaya and his wife, serve as directors.
[paywall]
It is held under Deed of Transfer No. 407/6118 dated 27 July 2018. Another property listed for auction is an 8.7146-hectare property at No.
6 Caledon Avenue in Prospect, Waterfalls. Planet Africa’s dispute with GetBucks dates back to June last year when the microfinance bank approached the High Court seeking to liquidate Magaya’s estate over a debt of US$420,140.72. Meanwhile, several unregistered medicines were recovered by police when they raided Yadah Hotel last year.
[/paywall]
All Zim News – Bringing you the latest news and updates.
