Versatile Commercial Building Well Positioned Within Durban CBD, 51 Cato Street, Durban
Extent: ± 440 m² | Vacant occupation | GLA: ± 1 200 m² over three floors
This mixed use commercial property is improved to a triple storey building comprising of a warehouse, a showroom with offices and a factory. The property is exposed to high levels of passing foot and vehicular traffic and has easy access to the inner city. This property can accommodate 3 separate tenants and therefore this an ideal investment opportunity or alternatively an end user opportunity.
The ground floor obtains access directly off Cato Street via shopfront doors and a roller shutter door. It comprises of a warehouse with a mezzanine level, ablution facilities and kitchenette.
The first floor is accessed from the common stairway and comprises an air-conditioned office area partitioned by dry walling from the large spacious showroom. It further comprises of a kitchen, ablution facilities and a balcony the fronts onto Cato Street.
The second floor is accessed from the common stairway and comprises of the factory with a large mezzanine level, staff ablutions and a change room.
There is a goods hoist that services the ground floor and first floor. There are steel beams in place on the second floor for the construction of another goods hoist directly from the ground floor common passage area. The building is fully alarmed and has CCTV cameras connected for all levels.
As per the Seller, the gross lettable area is approximately:
Ground floor ± 400 m²
First floor ± 400 m²
Second floor ± 400 m²
Total ± 1 200 m²
The property fronts onto Cato Street, approximately 250m from the Durban Car Terminal and within walking distance to The Victoria Embankment.
The 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.
The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and offices and flats on the upper floor levels. Some accommodation has been upgraded, whilst general landscaping and improved cleanliness and security have stimulated new investment in the area.
Cato Street is the continuation of Florence Nzama (Prince Alfred) Street and the M4 Arterial Road from the north coast. The Durban Harbour is easily accessible as well as the N3 Freeway. The property is well serviced in terms of necessary amenities including emergency, medical, educational services and transport facilities.
Durban is the largest city in the South African province of KwaZulu-Natal. Durban's metropolitan municipality ranks third among the most populous urban areas in South Africa after Johannesburg and Cape Town. It is also the second most important manufacturing hub in South Africa after Johannesburg. It forms part of the eThekwini Metropolitan Municipality. Durban is famous for being the busiest port in South Africa. It is also seen as one of the major centres of tourism because of the city's warm subtropical climate and extensive beaches.
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