by In2assets  |   November 25, 2020

Lucrative Investment Opportunity

In2assets will offer a high-trade retail property in Stanger at a live auction, in compliance with Covid-19 regulations, combined with online bidding, on December 9 at 11am, at The Durban Country Club.

The neighbourhood convenience retail and commercial centre, with a GLA of about 3 400m2, known as Stanger Centre, consists of three levels. The lower ground and ground floors are retail space and the first floor consists of office suites.
The property enjoys maximum exposure to the busy King Shaka Street as well as the rear parking area to the back of the property. The property boasts an excellent retail position with four shops directly fronting onto King Shaka street. Currently, the retail units are fully tenanted by blue-chip companies who are well established in the property.
The lower ground floor also offers a good retail position and comprises two retail units opening onto a patio raised above and overlooking the rear public parking lot. The parking area is busy and forms a courtyard area for parking for OK furniture and the Ex Shoprite building.
Internally and on the first floor, there are 18 office suites set around a central open courtyard space. Most of these suites are also tenanted with some long term tenants.
The property is directly across from the magistrate’s court, the KwaDukuza municipal offices, and Stanger Post Office.
Stanger, on the North Coast, is a commercial, magisterial, and railway centre for the surrounding sugar-producing districts. It is close to Ballito and 60km from the Durban city centre.
“The blue-chip retail tenants, including Total Sports, Mr Price and Foschini, and commercial tenants have occupied the property for many years and ease of access and free parking is an additional positive drawcard held by this convenience centre, which is exposed to a high volume of foot and vehicular traffic. The annual income including recoveries is about R4.7 million.
“The property benefits from its position along the high trade road which can be seen by the success and calibre of tenants\,” says Luke Hearn who is handling the sale.
For more information contact Luke Hearn at 071 351 8138 or 031 574 7600 or [email protected] To register and attend the live auction, email [email protected] Alternatively, bids can be submitted via the In2assets online bidding platform accessible from PC or by downloading the In2assets App from the Google Play Store or App Store. | Auctions Writer