Durban Industrial Business Park for Sale by Auction

AUCT-000684 | On Auction

1 Old Main Road, Illovo, Kingsburgh, KwaZulu Natal


Industrial Business Park, Old Main Road, Kingsborough, Illovo

Total extent: ± 57 469 m² | Potential annual income: ± R 6 Million | Almost fully let

This well-presented business park is situated in Illovo which is South of the Durban CBD and close to the N2 Freeway, linking to Durban Harbour and all major routes in- and out of Durban. The major improvements to the subject property comprises an Industrial development, sited on 3 x subdivisions, with various buildings, Mini storage facilities and warehouses with national and international tenants. The total lettable area is about 13 000 m² which is divided into:

- 6 bigger industrial ware houses
- 19 mini ware houses
- 95 self-storage units with extra heights
- 1 office block with 10 x office units

There is a 2.7 MVA electrical supply, backed by two large generators. Highly sophisticated electrical meterage system to measure power usage at peak times. Prepaid electrical meters on mini-units, grey water storage and supply backed up by Jo-Jo Tanks (380000 Litre) to minimise water consumption.

The existing site works comprise perimeter electric fencing, controlled access through vehicular gates and concrete paved/earth hardened yard areas.

The current rental income is ± R 5.8 Million with the potential to increase due to escalation and current owner using certain space.

Illovo is a town in EThekwini in the KwaZulu-Natal province of South Africa. A popular coastal resort on the Natal South Coast, between Winklespruit and Karridene, 34 km south-west of Durban. It takes its name from the Lovu River. The adapted form Illovo has also been applied to a sugar estate and thence to the Illovo Sugar company.

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

Commercial Type:
Industrial Property
Web Reference:
AUCT-000684
List price:
POA
Address:
1 Old Main Road, Illovo, Kingsburgh, KwaZulu Natal
Property Extent:
57469 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
20 June 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.
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Auction Date: 20 June 2018 11:00 am

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