2 x Six Storey Blocks Of Flats, 8 HJ Van Eck Drive, Barry Hertzog Park, Newcastle
Site extent: ± 4.0983 Ha | Gross Lettable Area: ± 14 389 m² | 480 Rooms that can accommodate ± 900 people | Unused Land: ± 2 Ha | Close to Majuba Training Centre and Majuba College
This property in extent of ± 4. 0983 Hectares has 2 six storey block of flats, outbuildings, a 3 bedroom extension and approximately 2 Hectares of un-used land. Property is known as the Drakensberg Lodge. In total there are 325 rooms that can accommodate 900 guests. The property is currently being used as a lodge/accommodation and catering. One of the blocks comprises flats either bachelor, 1 bedroom, 2 bedroom or guest rooms and the other block comprises flats as well as dining rooms, entertainment rooms, kitchen (with cold rooms and freezers), hall, conference room and store rooms. The property currently provides for short term accommodation for students in training at the nearby college, and from clients of the nearby SAPPI, ESKOM and MITTEL industries. There are two 70 000 litre water storage tanks on the property. The site can be subdivided so as to enable development on the un-used piece of land. There is a strong demand from NSFAS Students who are in training at the Majuba College and who are paying rentals of approximately R1 200 per month at nearby outbuildings in the neighbourhood. Currently rooms on the property on auction are let out at around R125 to R375 per night or R2 750 to R3 900 per month.
The property is positioned at the corner of Van Eck Drive and Hendrik Potgieter Street within the suburb of Barry Hertzog Park just outside the Newcastle CBD. Van Eck Drive is off the R34/Allen Street, which is the main road between Newcastle and Volksrust/Vryheid. This suburb is set amongst the Iscor dwellings.
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