by In2assets  |   January 19, 2021

Strategically Located Redevelopment Property

In2assets will be knocking down a re-development site at 10 Lagoon Drive, Umhlanga Rocks. The live auction, in compliance with Covid-19 regulations, combined with online bidding, is on February 18, at 11am, at the Mount Edgecombe Country Club.

The property measures 3 992m2 in extent and features two newly renovated standalone restaurant buildings with ample front and rear parking. The commercial buildings, one of which is a double-storey and the other a part double-storey, are open-plan with a modern look and feel. They have kitchens, storerooms and ablution areas.

The site is close to Umhlanga main beach and is within the heart of Umhlanga Rocks. Land parcels and redevelopment opportunities in this node are incredibly scarce and the sale offers investors and developers a unique opportunity. The high level of consumer interest seen along Lagoon Drive bodes well for an exclusive and upmarket development.

The location, and the easy accessibility off Lagoon Drive, gives it rare re-development potential. It could accommodate a drive-through opportunity, as well as seated restaurants. The site would also suit a boutique hotel or residential high-rise apartment block with a mix of retail and commercial offerings, the auction house says.

“The property enjoys a central location to surrounding amenities and is set among an abundance of entertainment options. This highly desirable area benefits from good foot traffic and the strong surrounding demographics, as well as its proximity to The Pearls of Umhlanga, Oyster Box, and the Umhlanga Village. The Oceans Umhlanga mixed-use development, which is currently under construction, lies adjacent to the property,” says Luke Hearn who is handling the sale.

“Umhlanga Rocks is considered one of South Africa’s most sought-after property nodes. The N2 and the M4 allow for easy access to the Durban CBD, which lies a mere 16km away. The King Shaka International Airport is approximately 20km north,” he says. 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