Commercial Building in Umbilo

Commercial Building in Umbilo

AUCT-000496 | SOLD

39 Magwaza Maphalala Street, Umbilo, Durban, KwaZulu Natal


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Commercial/Industrial Investment Building, 39 Magwaza Maphalala (Gale) Street, Umbilo

CORPORATE PROPERTY DISPOSAL

OPENING BID STARTING AT R11 MILLION

GLA: ± 4 400 m² | Gross annual income ± R2 700 000 (including operational costs)

The property enjoys 11 tenanted units of which are all fully let. The property is a multi-story building with its own underground parking with 13 parking bays. All the building costs are fully recovered from tenants based on a per m² cost proportion. The property forms a solid structure, is well maintained and the majority of the tenants are in this buildings for many years.

Situated a mere 2kms from the central business district and near the Durban harbour, Umbilo is one of the traditional commercial hubs of Durban ad an important location for the local industrial and commercial markets. The precinct consists of warehousing, workshops, commercial and retail sites.

Viewing: 13 September from 13h00 to 14h00

To participate in this physical auction each bidder has to follow registration procedures which can be obtained on this webpage

Commercial Type:
Commercial Building
Web Reference:
AUCT-000496
List price:
Price undisclosed
Address:
39 Magwaza Maphalala Street, Umbilo, Durban, KwaZulu Natal
Property Extent:
±4400 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
21 September 2017 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by bank guaranteed cheque. No cash. ID Document is required.
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