Prominent CBD Investment Building

AUCT-000692 | On Auction

123 Dr Pixley Kaseme Street, Durban, KwaZulu Natal


Prominent CBD Investment Building, 123 Dr Pixley Kaseme Street (West Street), Durban CBD

Fully tenanted with Gross Annual Income of ± R2 750 000 | 36 Apartments with street level retail units | Occupying two road frontages

Locality

This very well positioned property is situated towards the coastal periphery of the Durban CBD and occupies two road frontages being on the corner of Florence Nzama Street and Dr. Pixley Kaseme (West) Street. Dr. Pixley Kaseme is a busy arterial road which links Durban’s Central Beach precinct to the eastern fringes of Durban’s central business district. The property is within walking distance to the Durban ICC and enjoys very high vehicular and pedestrian exposure.

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 well as 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.

Accommodation

Available for sale in the heart of Durban's CBD is this mixed use face brick building with 2 road frontages. The property income is underpinned by a strong retail component which anchors the entire building. The current Annual Gross Income is R3,58m. The residential component is made up of 36 flats however is under a single lease.

The building is currently fully let and is solidly built with a beautiful façade and is ideally located close to shopping , transport routes and the beach.

The subject property is in the hub of major CBD rejuvenation projects currently underway in Durban as well as newly formed precincts such as Rivertown and the Durban ICC.

Freehold properties such as this rarely become available available for sale in Durban.

Viewings: 04 & 18 July from 14h00 to 15h00

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-000692
List price:
POA
Address:
123 Dr Pixley Kaseme Street, Durban, KwaZulu Natal
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
25 July 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: 25 July 2018 11:00 am

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Introduced by:
Portfolio Property Investments

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