Community Retail Centre, 8/10 Rainbow Crescent, Crestview, Waterfall
Multi-tenanted retail node | Gross Annual Income: ± R473 280 | Redevelopment opportunity
This retail node is very well known amongst the local community as Jocks Stores. The property has been in the family’s ownership for the past 40 years. The property is fully tenanted and includes a Superette, Bottle Store, Tavern, a car wash and a hardware storage yard. These tenants have long-term leases and are in their second term of lease. The hardware storage yard is on a month-to-month lease.
The current Gross Annual Income is ± R473 280 and the nett annual income is ± R415 812.
The total erf size is ± 4 047 m².
There are 24 on-site parking bays.
Waterfall is near the suburb of Hillcrest, directly North of Kloof and adjacent to Hillcrest and Forest Hills, approximately 30 kilometers outside of Durban. This makes Waterfall a popular suburb as it is located on the outskirts of the city. Like Kloof, Waterfall and it’s proximity to Krantzkloof Nature Reserve, an added green belt, lends the area the feel of ‘country’ living. Waterfall is accessed from the M33 (Inanda Road) coming from Hillcrest and Bridle Road coming from Kloof. The immediate area comprises middle to upmarket freehold dwellings with limited sectional title schemes. Waterfall has experienced a lot of commercial development over the last few years with the construction of the new Link Hills Shopping Centre, Watercrest Mall and various housing developments.
Viewing: 10 April 2018 from 14h00 to 15h00
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