Income Generating Commercial Building Within Durban CBD, Moraturi House, 28 Stalwart Simelane (Stanger) Street, Durban CBD
Unit 1: ± 555 m² | Unit 2: ± 623 m² | Gross Building Area: ± 1178 m² | Gross Annual Income: ± R 480K | Ground floor drive in access | Excellent exposure
This sectional title commercial property is known as Moraturi House and is positioned on the busy Stanger (Stalwart Simelane) Street within the Durban CBD. The property has dive in access on the ground floor into a huge warehouse facility that is now being used as a church. At the rear of the ground floor there are ablution facilities and a kitchen. The upper floor comprises of 2 sections, an existing office area that is currently used as a crèche and an existing warehouse/factory that is currently used as another church. This commercial properties has endless amounts of potential for either the end user or investor.
The property fronts onto Stalwart Simelane (Stanger) Street, approximately 300m 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.
Stanger Street links to the M4 Arterial Road to the North. 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.
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