Prominent Cluster of Flats in Glenwood Durban

AUCT-000603 | On Auction

Prominent Cluster of Flats in Glenwood Durban

12 Cleveland Place , Glenwood, Durban, KwaZulu Natal

Cluster of 39 Flats, 12 & 14 Cleveland Place, Glenwood, Durban

Gross Annual Income: ± R1.8 Million | 25 Bachelor flats | 9 x 1 Bedroom flats | 5 x 2 Bedroom flats


Combined extent: ± 1 800 m². This prominently positioned property consisting of a cluster of buildings spreading over two erven, is the perfect opportunity for an investor or a conversion into student accommodation.

The current gross rental income is ± R155 000 per month and the property is fully let, owner managed and all rental contracts are on a month to month basis. The property is within walking distance to Durban University of Technology, Glenwood Mall and close to all amenities to service the local community.

Glenwood is a suburb on the lower Berea in Durban, KwaZulu-Natal. Glenwood has a neighbourly vibe and the sedate houses, tree-lined streets and easy access to the centre of Durban make this suburb an ideal place to stay. Its residents tend to be academics, artists, designers and the like who have given the neighbourhood, together with Davenport Road, a distinctly ‘trendy’ vibe.

Viewings: 13 March 2018 from 13h00 to 14h00

To participate in this physical auction each bidder has to follow the registration procedures.


Commercial Type:
Block of Flats
Web Reference:
AUCT-000603
List price:
POA
Address:
12 Cleveland Place , Glenwood, Durban, KwaZulu Natal
Property Extent:
±1800 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
20 March 2018 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.

Bidding opens in


Auction Date: 20 March 2018 11:00:00am


Rainer Stenzhorn
                                                         In2assets Representative

Property Agent


Rainer Stenzhorn
0823211135
[email protected]


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