5 Great Retail & Commercial Properties Within DBN
Among the lots available in In2assets’ combined auction taking place in June are three superb commercial and retail properties within the Durban CBD, and on the same street.
The first property is 372 Dr Pixley Kaseme (West) Street in Durban Central, falling within one of nine new precincts demarcated within the city area, together forming the UDZ (Urban Development Zone). The property is rectangular in shape on a level site in an area subject to high volumes of pedestrian and vehicular traffic.
The second property available is 393 Dr Pixely Kaseme (West) Street, Durban Central. This frontline property has recently been renovated and upgraded internally to modern retail standards. The external front façade has also been renovated and modernized. Sport Scene is currently leasing the ground, first and second floors until 2026. This location is prime for retailers and the property offers the opportunity for an increase in future yields due to leases.
The third property on auction is 432 Dr Pixely Kaseme (West) Street, Durban Central. This frontline retail property consists of a triple story building. Retail clothing store Webbers currently occupies part of the ground and first floor and the entire second floor. They share space on the ground and first floor with La Dive Hair Salon. Both leases end in 2023. This building is modern and in excellent condition and presents many profitable rental opportunities.
Another property listed on the June auction is positioned within the busy Warwick Triangle, 10, 12 & 14 Willis Road, Warwick, Durban. The property enjoys a prime location in an area with extremely high pedestrian and vehicle traffic. There are two registered properties with two street frontages. The seller of this property has applied to AMAFA for demolition and redevelopment of the property and has also applied for rezoning of the property to mixed-use zoning which would allow for a commercial and residential component.
Another prominent property is 31 Monty Naicker (Pine) Street in Durban Central. This property consists of three levels with retails shops on the ground floor and warehouses on the second and third floors. There is 4.5ton goods hoist which services all floors. This property enjoys very high pedestrian and vehicle traffic and the area has enjoyed improved cleanliness and upgraded security. Negotiations of extension of the lease with the current tenant are currently being attended to.