Investment Retail Centre

AUCT-000731 | SOLD

5 Harvard Street, Howick, KwaZulu Natal


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Investment Retail Centre, 5 Harvard Street, Howick

Well positioned on main road | Projected Gross Annual Income: ± R1 450 000 | 9 Shops with ample on-site parking

LOCALITY

The property is located within the Howick CBD on a very busy and prominent corner site with extensive exposure onto the main road that runs through the Howick CBD. Main Road also links the CBD to the N3 plus residential areas of Howick. The property is located on the corner of Main Road and Harvard Street in the CBD of Howick.

There are several national retailers within close proximity such as the Capitec Bank, Standard Bank, ABSA and FNB Bank branches, Bears Furnishers, the Howick Falls Centre, Woolworths Food and Nandos are all on Main Street. The property is positioned near of Supa Quick Tyres, Build It and Mica, and the Howick Hotel which are all on Main Street. The property is within walking distanceof the famous Howick Falls.

Howick has seen strong growth and investment in the retail plus residential sector over the last 10 years; despite the recent poor economic climate. Several large retirement complexes developed over the last few years plus a new Save Cash n Carry developed in the CBD. The Private Hospital was doubled in size at a cost of ± R30 million in 2014.

Greendale / Spar Centre was recently doubled in size and is currently been expanded again to create a Super Spar. The Pick n Pay was recently extended. A new petrol filling station was developed on a site next door to the Pick n Pay Centre.

PRIMARY USE

The property is a well-positioned retail shopping centre with 9 retail stores. There is ample onsite parking.

The centre is on the main street with high volumes of traffic and pedestrians passing daily. Tenants include Doves Funeral Parlours and Debonairs Pizza.

The projected Gross Annual Income is ± R1 450 000

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-000731
Final price:
POA
Address:
5 Harvard Street, Howick, KwaZulu Natal
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
21 August 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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