Mixed-use Investment Property in Vryheid

AUCT-000714 | On Auction

151 Kerk Street, Vryheid, KwaZulu Natal


Commercial Property Investment, 151 Kerk Street, Vryheid

Extent: ± 2 141 m² | 6 Leases in place | Blue Chip tenants | Potential Gross Annual Income: ± R577 887.72

The subject property is located along the busy Kerk Street, Vryheid. The property is road facing and is made up of three sections. The first section is utilised as a open air car showroom which is under a Zincalum roof supported by a steel structure. At the end of the showroom there is an office component which is constructed out of face brick. The showroom floor is covered in interlocking concrete pavers. The offices are open plan with a suspended ceiling, ceramic floor tiles and plastered internal walls.

The second section is located at the rear of the property. This comprises six garages of various sizes constructed with Calci Face Brick with galvanised rollup garage doors.

The third section is a combination of open air parking under shade netting and an area that contains the Vodacom cell tower.

Fundamentally a coal mining and beef farming town, Vryheid - from the Afrikaans word for ‘freedom’ - lies roughly 70 kilometres north east of Dundee in Zululand.
Whilst Vryheid’s surrounds are largely dominated by timber farming - hence the extensive wattle and timber plantations - crops such as groundnuts and maize, and mining, the town also lies near the sources of four major rivers, the White and Black Umfolozi, Mkhuze and Pongolo.

There are several notable buildings in the town of Vryheid, such as the Old Raadsaal (old council chambers), the Lucas Meyer House (he was president of the rather brief Nieuwe Republiek), and the Dutch Reformed Church.

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-000714
List price:
POA
Address:
151 Kerk Street, Vryheid, KwaZulu Natal
Property Extent:
2141 m2
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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