Cambria Africa, a long term, active investment company with primary activities in Zimbabwe, on Thursday said it has sold its heavily indebted Leopard Rock Hotel in Zimbabwe, including external debt of $200,000, to African Ventures Ltd for $2.5 million.

The London-listed investment company said the sale marks the end of a “significant cash drain.” The Zimbabwe-based hotel recorded a $670,000 loss in last financial year to August.

Cambria says proceed made from the sale of the hotel will be used to make further investments as it sourcing additional funds from alternative options.

Contrastingly, combined revenue from Cambria’s Payserv and Millchem investments rose 11 percent to $9.4 million ($4.6 million and $4.8 million respectively) in the year to August 31. Gross profit from both companies also rose 11 percent to $5.1 million.