Multiple Units in Storage Park

AUCT-000720 | On Auction

Glen Anil, Durban, KwaZulu Natal

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Multiple Units in Storage Park, Storage Unlimited, Highdale Road, Glen Anil, Durban

26 Storage units in secure park | ± 18 m² per unit | Current combined Gross Annual Income: ± R396 600

The property is located within the suburb of Glen Anil in the northern suburbs of Durban. The property is made up of a storage park with a total of 160 units. There are two road accesses from Highdale Road and Cypress Drive with two accesses off Highdale.

The storage units are managed by a Body Corporate and individually owned by separate owners or in clusters. The rentals of the units are mostly managed by a managing agent with an onsite office. The office is open Monday to Friday between 8 am and 1pm. There is 24 hour security onsite.

The average size of each of the 24 units on auction is 18m2 and they are mostly tenanted. The nature of storage unit leasing is mostly short term however occupancy levels and demand is very high. The Gross Annual Income of these 24 units, at present, is approx. R33 050 per month. Total monthly rates contribution is R4906 and Levies R9526.

Unit 30, 42, 44 and 45 are lower level units. The balance of the units is upper level units which are accessed via a staircase. Tenants or owners often hire cherry pickers to load goods.

Each unit is square with one roller shutter door. There are no electrical connections in the units. These are definitely great first time, easy maintenance investments.

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

Commercial Type:
Commercial Building
Web Reference:
List price:
Glen Anil, Durban, KwaZulu Natal
Property Extent:
432 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
KwaZulu Natal
Auction Date:
21 August 2018 11:00 am

Andrew Miller
Auction Terms and Conditions:
To participate in this physical auction each bidder has to follow the registration procedures.
Auction Date: 21 August 2018 11:00 am

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