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Durban CBD Auction by In2assets Property Specialists

SAIA member In2assets Property Specialists Auction in KwaZulu-Natal

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DURBAN CBD COMMERCIAL PROPERTY
DURBAN COMBINED PROPERTY AUCTION - 100-104 ANTON LEMBEDE (SMITH) STREET, DURBAN CBD  
Live Auction Starts: 20 AUG 2020 AT 11:00 CAT  
Viewing: On Appointment  
Description:

 These 2 frontline buildings forms part of the mix of high-volume foot traffic within the retail and commercial space of the Durban CBD. Fronting to the busy Anton Lembede (Smith) Street, these two buildings have excellent exposure.


This property offers the Purchaser the opportunity to convert the upper levels into student accommodation or to keep as the current residential accommodation. The restoration process in the city is certainly driving up demand and subsequently prices for commercial rental properties.

The triple storey block at 100 Anton Lembede (Smith) Street comprises a ground floor retail unit and ground floor workshop. Parking for approximately 15 motor vehicles is available at the rear of this property. This block comprises of 25 rooms with communal showers and toilets. Each room generates approximately R1700.00 in rental per month.

The 8-storey block at 104 Anton Lembede (Smith) Street comprises two retail ground floor shops, first floor church and five offices/rooms. The residential component comprises of 18 flats in total (4 Two Bedrooms flats, 2 One-bedroom flats and 12 Bachelor flats). These flats generate approximately R4000 to R5000 rental per month per flat.

The property is located at 100-104 Anton Lembede (Smith) Street, close to the Cato Street and Smith Street intersection. The property falls within the Durban Central precinct, as per eThekwini’s new Urban Development Zone (UDZ). This is one of nine new precincts demarcated within the greater central city, together forming the UDZ. The aim of creating this zone is to stimulate new investment and urban regeneration to the central parts of the eThekwini City, through tax saving incentives applicable to new development or building restoration.

The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and offices and flats on the upper floor levels. Some accommodation has been upgraded, whilst general landscaping and improved cleanliness and security have stimulated new investment in the area.
Various financial institutions, law firms, tertiary institutions, car dealerships and both national and international retailers and food outlets are in close proximity to the property.

Features:

2 x Commercial Blocks within Durban CBD

Site Extent: ± 1 392 m² | Ideal for student accommodation, offices, college or residential

BLOCK 1 – 3 storey Building
Ground floor retail shop fronting Anton Lembede (Smith) Street | Ground floor workshop with parking for ±15 motor vehicles | 25 Rooms | Gross Annual Income: ± R730 000.00

BLOCK 2 – 8 storey Building
2 x Ground floor retail shops with workshop fronting Anton Lembede (Smith) Street | First floor church & 5 offices/rooms | 4 x 2 Bedroom flats | 2 x 1 Bedroom flats | 12 x Bachelor flats | Gross Annual Income: ± R1.2m

  IN2ASSETS PROPERTY SPECIALISTS
Address   100-104 Anton Lembede (Smith) Street, Durban CBD, KwaZulu-Natal
Telephone Cell   Virend Deonarain    0315747600 (T)     0713831735 (C)
Email   vdeonarain@in2assets.com
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FEATURED AUCTIONS No 20 of 20 < PREV NEXT >
MIDRAND INDUSTRIAL MACHINERY, PLANT, MACHINERY & PRINTING
  
Online Auction Lots Closing: 30 OCT 2020 AT 12:00 CAT  
 
WH AUCTIONS ONLINE LOCOMOTIVE AUCTION SWIFAMBO RAIL LEASING (PTY) LTD (IN LIQUIDATION)
WH Auctions Online Locomotive Auction - Swifambo Rail Leasing (Pty) Ltd (In Liquidation) Masters ref: T2979/18.
Address   578 16th Road, Randjespark, Midrand, Gauteng
Telephone Cell   Prelena N +2711 574 5700 | +2711 574 5700
Tim Varenzakis
Email   prelenan@whauctions.com | timv@whauctions.com
         
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