Large Umgeni three-storey, secure commercial building in well-developed industrial node is ideal for investment commercial building in Umgeni Business Park at its next multi-property auction at the Durban Country Club on February 18 at 11am.
The 3 891m² property – with gross lettable area of 3 710m² – is at 17 Kosi Place which forms part of Umgeni Business Park, a well-developed and popular industrial node off Umgeni Road. It is occupied by multiple tenants with only two vacancies and yields a current annual gross income of about R5.7 million. Luke Hearn, who is handling the auction for In2Assets, says the building in Kosi Place, one road north and parallel to Umgeni Road, with its access to the N2 to the west and the Durban CBD to the east. “Developments in this blue-chip business hub are mainly service, retail and industrial but also top-grade offices occupied by established tenants or owner-occupiers. It is close to the popular Springfield Value Centre and Makro. The local vicinity offers modern facilities with Umgeni Road providing access to other amenities. The area is fully serviced,” Hearn says. He says the triple-storey building on offer comprises top-end individual and open-plan offices together with storerooms, server rooms, strongrooms, kitchenettes and ablution facilities. “The building also has a canteen and entertainment area. “The offices are either drywall partitioned or concrete walls and several have floor-to-ceiling glass partitions. There are two wings, each having a flight of stairs to the upper floor. “One wing is equipped with a passenger lift.”
The property – which is secured by palisade and electric fencing and concrete walls – is air conditioned. In addition, it has 57 shade-cloth parking bays and 34 open bays on the site and additional parking opposite the building where there are 45 shade-cloth parking bays and 20 open parking bays. “A property of this magnitude is an ideal investment as it can accommodate multinational as well as small to medium-size tenants under one roof,” Hearn adds. For more details, call him at 071 351 8138 or email [email protected] or visit www.in2assets.com.
by JAN DE BEER (Sunday Tribune)