Durban CBD property for sale

Multi-tenanted retail and commercial portion with GLA ± 1 510 m² | 4 x Warehouses with combined GLA of ± 2 116 m² | Rare CBD on-site parking bays for 30 vehicles | Sold separately or combined

LOCALITY

This very well positioned property is situated towards the eastern periphery of the Durban CBD on the corner of Florence Nzama and Dr. AB Xuma Street and in close proximity to the Durban ICC. The property enjoys very high exposure and is easily accessible by vehicles pedestrians from three roads including Milne Street which joins Florence Nzama Street.

The neighbourhood within the immediate vicinity of the subject property comprises mostly service industrial, multi-level warehousing, residential block of flats, hotels, retail space and is the vehicle sales hub of the CBD. The property is also close to the Hilton Hotel, the Kingsmead Cricket grounds and the Kingsmead Office Park.

The Victoria Embankment and the Durban Harbour are easily accessible; as are the M4 and N3 Freeways. This node has enjoyed improved cleanliness and upgraded security which have stimulated new investment by property funds who have injected capital into urban regeneration projects in the area.

PRIMARY USE

The property consists of multiple lettable areas which include amongst others a Bosch Service Centre. There is ± 1 510 m² of retail and commercial lettable areas and ± 2 100 m² of warehousing. The retail component is ± 830 m² and has 3 tenancies in place. These units are all on road level. The commercial component is on the upper level and is ± 680 m² in size. The commercial component is currently vacant which provides a great opportunity for any new owner to either occupy or redevelop. The upper area has a pedestrian access off Florence Nzama Street as well as a vehicular access, via a ramp, off the parking lot off South Lane. There are approximately 10 parking bays on the upper level.

The warehousing component consists of 4 warehouses of ± 530 m² each. Each warehouse is accessible from both Milne Street and South Lane. There is a parking lot at the front of the property off Commercial Road which can park approximately 20 vehicles. There should be a good opportunity for a new owner to develop this space as it occupies a prominent corner in the Durban CBD. The current Gross Annual Income (Excluding the Vacant Space) is to be confirmed.