Durban CBD property for sale

The property consists of three levels with a total gross building area of ± 4 242 m² which excludes the 4 Mezzanine Levels. Each floor enjoys a decent floor to ceiling height of ± 5m which means the property lends
itself well to warehousing.
There is a 4 ton goods hoist which services all floors.

It is the intention of the seller to occupy a portion of approximately 1450 m² of the property under lease for a period not exceeding one year from the date of sale.
The Gross Annual Income from this lease is ± R816K. The total vacant area will consist of ± 3 200 m².

As per the seller engineering plans for the construction of additional floors on the same foundation are available

Comments
1. The Seller will remove 2 cold rooms, freezer, a kitchen extractor and 1 steel mezzanine floor of ± 55 m².
2. The tenant is currently occupying the entire ± 1 500 m² of the First Floor. The intention would be to downscale to ± 500 m². Rentals will be adjusted if an area larger than ± 500 m² is used at Transfer.

Accommodation Details
As per approved architectural plans the property has an estimated gross building area as follows:
Ground Floor: 1 483.72 m²
Mezzanine 1: 184.08 m²
Mezzanine 2: 178.70 m²
Mezzanine 3: 27.43 m²
First Floor: 1 419.03 m²
Mezzanine 4: 50.51 m²
Second Floor: 1 340.08 m²
Total: 4 683.55 m²

Lease Details
The property is currently owner occupied however the seller shall have the right to occupy a portion of the property under lease for a period not exceeding one year from the date of sale with an option to surrender
the lease in full or in parts at any earlier date.

The total combined assessment rates for both properties for the year 2017/2018 amounts to
R 339 900.00, which equates to a monthly figure of R 28 325.00.

This property is ideal for a possible conversion or redevelopment in the heart of Durban's CBD.