Portfolio of Nine Prominent Apartment Blocks in Durban under Auctioneer’s Hammer

In2assets, KZN’s leading commercial property company will be hosting a commercial auction sale of nine Apartment Buildings with 94 flats located in the most prominent Durban Suburbs Essenwood, Morningside, Musgrave and Glenwood.

Portfolio of Nine Prominent Apartment Blocks in Durban under Auctioneer’s Hammer

 

In2assets, KZN’s leading commercial property company will be hosting a commercial auction sale of nine Apartment Buildings with 94 flats located in the most prominent Durban Suburbs Essenwood, Morningside, Musgrave and Glenwood.

The entire portfolio consists of mostly of 1 and 2 Bedroom apartments and two of the multiunit buildings are sectionalised. Most of the flats are occupied with tenants and the majority of the lease agreements are up for renewal, which allows possible repositioning for the prospective purchasers. All Apartment blocks will be submitted to auction with the option to buy individual buildings or the entire portfolio explains Rainer Stenzhorn in charge of the marketing for this portfolio. 

The portfolio consist out of the following:

•    278 Avondale Road, Essenwood - “Ledanova” 9 x 2 Bedroom flats
•    182 Percy Osborne Road, Morningside - “Portal Place” 6 x 2 Bedroom & 1 x 1 Bedroom flats
•    127 Botanic Gardens Road, Musgrave - “Botanical Bliss” 13 Units comprising of Bachelor & 2 Bedroom flats
•    33 York Avenue, Glenwood - “Tropicale” 6 x 2 Bedroom & 1 x 1 Bedroom flats
•    87 Hunt Road, Glenwood - “Carmel Court” 11 x 2 Bedroom & 5 x 1 Bedroom flats
•    314 Avondale Road, Essenwood - “Mid Century House’’ 8 x 2 Bedroom & 1 x 1 Bedroom flats
•    42 Innes Road, Morningside - “Confluence Court” 6 x 2 Bedroom flats
•    21 Henwood Road, Morningside - “Henwood House” 12 x 2 Bedroom & 4 x 1 Bedroom flats
•    8 Heswall Road, Musgrave - “Dunfor Residence” 12 x 2 Bedroom flats

According to Stenzhorn there is a surprisingly huge interest of investors that have approached In2assets already to register for the auction which will be conducted at the Durban Country Club on the 18th of May 2016 @ 11h00. This reaction says Stenzhorn, shows that confidence in the South African housing market remains strong, despite growing concerns over the wider economy and political land scape. “It is rare occasion that commercial properties of this significance come into the market and we are looking forward to another packed auction venue ends Stenzhorn.

For more information, call Rainer Stenzhorn, on 082 321 1135 or email rstenzhorn@in2assets.com  
 

Posted by In2Assets