PROPERTY businessman, Phillip Chiyangwa’s Pinnacle Property Holdings company has been accused of selling land in Harare’s upmarket Borrowdale area despite losing rights to it.
The company, according to the Grange Residents Association (GRA), surrendered rights to the land after losing a court case which centred on the ownership of the property.
The association has since warned unsuspecting prospective buyers not to part with any cent in respect of the particular land for fear of losing their hard-earned monies.
GRA legal representative, Tafadzwa Mugabe told NewZimbabwe.com Tuesday, Chiyangwa and his company were acting illegally through their actions to sell property which they have since lost control over.
“The piece of land located at 710 The Grange which is being sold by Pinnacle Holdings was attached by the GRA after Padley enterprises, a division of Pinnacle, failed to complete outstanding works on road construction, water reticulation and electricity as specified in subdivision permit 1850 (2006) to the satisfaction of the City of Harare and residents,” he said.
Mugabe made the remarks after establishing that Rawson Property agents had since been roped in to sell the land.
“We would like to warn unsuspecting buyers that we have been in and out of the courts since 2013 and more recently, the court ordered the company to complete servicing by April 30 and directed that failure to do so will maintain stand 710 under continued attachment and this still stands.
“The sheriff has clear instructions to sell off the piece of land and this will expose these buyers to losses,” he said.
The matter is recorded under Supreme Court Case No SC 386/18 with Padley Investments and The Grange Residents Association being parties.
Mugabe warned prospective buyers to engage in meticulous verification prior to any purchases involving immovable property.
The development comes at a time when Pinnacle Holdings is also embroiled in yet another land dispute involving Stoneridge Farms where the firm is seeking to receive payments from occupants who are resisting the move arguing the property was classified as state land.
However, the company maintains the farm belongs to it and has been promised compensation on behalf of the land beneficiaries by government which never came to pass resulting in government handing the farms back to the company.
