Prominent Investment Property

AUCT-000611 | SOLD

Prominent Investment Property

2 Main Road, Howick, KwaZulu Natal

Prominent Investment Property, 2 Main Road, Howick

Multi-tenanted commercial property within a strong tourism node | 20 Units which includes the 21 bedroom Hotel | Gross Annual Income: ± R1.6 Million | GLA: ± 2 277 m²


This historic building lies at the foot end of Howick’s Main Road and an easy stroll away from the world famous Howick Falls. This tourism node is a popular stop over for both local and foreign visitors. The town of Howick is also the root of the Midlands Meander which further highlights this prominent property.

The property consist of 21 rental units which include tenants such as the Howick Falls Hotel, Spec Savers, Pam Golding and an array of tourism related shopping boutiques. The current Gross Annual Income is ± R2.25 Million which excludes recoveries of ± R105K. Municipal Rates are ± R16 088 per month. The total GLA of the property is ± 2 277 m². The property is very well maintained.

Howick is a town located in the uMgungundlovu District Municipality of KwaZulu-Natal Province, South Africa. The town is 1050 m above sea level, and about 88 kilometres from the port city of Durban. It enjoys warm summers and cool dry winters. A snappy chill descends upon Howick when snow falls on the nearby Drakensberg. The town is located on the N3 freeway, connecting it with the rest of South Africa.

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-000611
Final price:
POA
Address:
2 Main Road, Howick, KwaZulu Natal
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


In2assets Properties
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In2assets Properties
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