Well Positioned Commercial Property, 50 Florence Nzama (Prince Alfred) Street, Durban
GLA: ± 1 510 m² | 30 On-site parking bays | Prime exposure | Redevelopment opportunity
This very well positioned property is situated towards the eastern periphery of the Durban CBD on the corner of Florence Nzama and Dr. AB Xuma Street and in close proximity to the Durban ICC. The property enjoys very high exposure and is easily accessible by vehicles and pedestrians from three roads including Milne Street which joins Florence Nzama Street.
The neighbourhood within the immediate vicinity of the subject property comprises mostly service industrial, multi-level warehousing, residential block of flats, hotels, retail space and is the vehicle sales hub of the CBD. The property is also close to the Hilton Hotel, the Kingsmead Cricket grounds and the Kingsmead Office Park. The Victoria Embankment and the Durban Harbour are easily accessible; as are the M4 and N3 Freeways. This node has enjoyed improved cleanliness and upgraded security which have stimulated new investment by property funds who have injected capital into urban regeneration projects in the area.
The property consists of multiple lettable areas which include amongst others a Bosch Service Centre. There is ± 1 510 m² of lettable areas. The retail component is ± 830 m² and has 3 tenancies in place. These units are all on road level. The commercial component is on the upper level and is ± 680 m² in size. The commercial component is currently vacant which provides a great opportunity for any new owner to either occupy or redevelop. The upper area has a pedestrian access off Florence Nzama Street as well as a vehicular access, via a ramp, off the parking lot off South Lane. There are ± 10 parking bays on the upper level.
There is a parking lot at the front of the property which could park ± 20 vehicles. There should be a good opportunity for a new owner to develop this space as it occupies a prominent corner in the Durban CBD.
The current Gross Annual Income (Excluding the vacant space) is ± R810K
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.
Viewings: 11 April from 14h00 to 15h00
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