PPC relists Arlington property

PPC Zimbabwe has put its 418-hectare Arlington Property back on the market after a proposed US$30 million sale to Transvaal Africa collapsed when the buyer failed to pay the purchase price by the agreed deadline.

In an update to shareholders, PPC said the disposal agreement automatically lapsed after Transvaal Africa did not settle the US$30 million consideration by June 30, 2026.

The company said the Arlington Property, which remains a non-core asset, would now be available for other prospective buyers.

"In the further announcement published on 27 February 2026, shareholders were advised that various administrative matters had delayed the meeting of certain milestones and that PPCZ and the Purchaser had agreed to extend the date by which all milestone events were required to be met to 30 June 2026, failing which the Disposal Agreement would automatically lapse and become null and void.

"Shareholders are advised that payment by the Purchaser of the Disposal Consideration did not occur by 30 June 2026 and, accordingly, the Disposal Agreement has lapsed. The Arlington Property remains a non-core asset and any other purchase offers PPCZ may receive will be considered on their merits," the company said.

The proposed transaction had initially been announced as part of PPC Zimbabwe's strategy to dispose of non-core assets while unlocking value from the prime parcel of land.

Transvaal Africa had planned to transform the property into a major logistics hub by developing a cargo village to serve the nearby R.G. Mugabe International Airport.

The project's proximity to Zimbabwe's main international airport had been expected to position the development as a strategic logistics and freight centre, supporting cargo handling and related commercial activities.

With the deal now terminated, PPC Zimbabwe says it will evaluate any new offers for the property on their merits as it continues efforts to dispose of the non-core asset.