In2assets will be auctioning an industrial property at 42 Sylvester Ntuli Road, South Beach. The auction will take place the Mount Edgecombe Country Club on October 20 at 11am. Situated in the Durban Central Business District, the property has good exposure to high volumes of passing traffic.
The area features automotive services, product suppliers and surfing factory shops and mostly comprise retail space on the ground floor and offices and flats on the upper levels.
The property measures ± 1390m² in extent and is currently fully let but will be sold with vacant occupation. The building is in great condition and comprises three separate lettable spaces offering a total building area of 1643m2.
On the ground floor there are two large retail spaces with direct access from the road with off-street parking. The two sections would be easily combined to create one large retail floor if required, as was the case when FNB occupied the space.
Each ground floor ‘section’ is ±450m² which offers a combined ±900m² of frontline retail space. There are 8 parking spaces that service the ground floor. The upper level of the property is accessed via a large ramp, directly off Sylvester Ntuli Road and offers ±18 parking bays as well as a large industrial warehouse with a mezzanine of ±729m².
The property has a current gross annual income of R1 680 000, although the leases are month to month.
All movable assets do not form part of the sale of the property.
Viewing is by appointment only. For more information, please contact Luke Hearn on 071 351 8138 or 031 574 7600 or lukeh@in2assets.com.
