In2assets will be auctioning a number of properties suitable for investors on July 23 at 11am.
The first is at 12 Hely Hutchinson Street, Mtunzini (Ex Tradewinds Hotel) has a site extent of ±9 339m² and a current Gross Annual Income (GAI) of ± R4.3 million.Previously known as the Tradewinds Hotel and Conference Centre, this renovated hotel has now been designed for student accommodation. It currently accommodates 118 students in 59 rooms. It is strategically located within transport routes, close to shopping centres, dining spots and the University of Zululand.
The rooms currently sleep two and three students and the majority have their own bathroom facilities, however, there are also communal bathrooms available.
Rooms are fitted with beds, cupboards, chairs, desks and the majority of them have air-conditioners. .
It also features a pool, bar area, TV rooms, study rooms, entertainment rooms, catering kitchens, staff facilities, offices, ample parking and further development land.
The town of Mtunzini features all necessary amenities.
The second investment opportunity going under the hammer is the former Felixton Hotel and Conference Facility, in Felixton, Empangeni.
With a current GAI of ± R7.4 Million and a site extent of ± 9.2Ha, this property can be found ±1.2km off the R102 Main Road.
This renovated hotel has been designed for student accommodation, and currently accommodates 211 students in 128 rooms. It is a short driving distance from Felixton College, Mangosuthu University of Technology and the University of Zululand.
Rooms currently sleep one, two and three students and the majority share communal bathrooms and toilets. Rooms are fitted with beds, cupboards, chairs, desks and some feature air-conditioners. The property also features a pool, TV rooms, dining areas, entertainment rooms, catering kitchens, staff facilities and ample parking and further development land. There are also two warehouses, workshops, cold storage facilities, general storage areas and mezzanine offices. Of the total site extent of 9.2765 hectares, the property also features just over 3.5 hectares of litchi farm land.
Felixton is ±5km south of Kuleka, Empangeni. All amenities can be found in Empangeni and Richards Bay, which is a short drive away.
The third property is the former Canefields Hotel & Conference Facility in Richards Bay, with a site extent of ±2.1Ha and a current Gross Annual Income of ±R5.5m.
The renovated hotel has also been designed for student accommodation, and currently accommodates 151 students in 60 rooms. It is a short drive to the TVET College in Richards Bay and the University of Zululand.
The rooms currently sleep two and three students. Most of the rooms have their own bathroom facilities, however, there are also communal bathrooms available. Rooms are fitted with beds, cupboards, chairs, desks and majority of them with air-conditioners.
The property also features a double-volume reception area, a pool, bar area, TV rooms, dining areas, entertainment rooms, catering kitchens, staff facilities, offices, ample parking and further development land. The property also has a 300-seater conference facility with a catering kitchen and store rooms. There is also a warehouse on site.
The property is close to all amenities and positioned approximately 5km north of Empangeni and approximately 4km north of the R34 Main Road, which provides access into Richards Bay.
Movable assets to continue the student accommodation for the properties will form part of the sale of each property. The property meets the requirements for student accommodation (accredited and graded by National Student Financial Aid Scheme (NSFAS), with the fire extinguishers, fire hoses and CCTV cameras in place
Viewing is by appointment only. For more information on any of these properties please contact Virend Deonarain on 071 383 1735 or email vdeonarain@in2assets.com.
Also going under the hammer on July 23 are the following properties:
• A block of flats at 3 Heather Road, Congela - a three-storey building with eight apartments and the potential for student accommodation. There are also 11 parking bays and four garages.
• A mixed-use block at 1 Tunmer Road, Congela - a corner site with a tenanted bottom floor, with the potential to use the entire building for retail.
For more information on these properties please contact Marco Forno on 083 433 5913 or email mforno@in2assets.com.
The auctions will take place at The Mount Edgecombe Country Club.
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