CBD Investment Property, 385 Monty Naicker (Pine) Street, Durban CBD
Gross building area: ± 1 152 m² | Gross annual income: ± R 620K | 32 Residential units & Retail component | Within Warwick Avenue Triangle & opposite a taxi rank
This commercial building is positioned opposite a taxi rank in close proximity to the Warwick Avenue Junction. Zoned General Business with a bulk of approximately ± 1 152 m², this income generating property comprises of ground floor Cash & Carry, a Salon and 22 Rooms on the upper floor. The strong and reliable tenants are willing to sign 10 year lease agreements with buyers who are investors. This property is an ideal investment opportunity in a sought after area. This property is for sale on auction
The subject property falls within the Durban Central precinct, as per eThekwini’s new Urban Development Zone (UDZ). This is one of nine new precincts demarcated within the greater central city, together forming the UDZ. The aim of creating this zone is to stimulate new investment and urban regeneration to the central parts of the eThekwini city, through tax saving incentives applicable to new development or building restoration.