The subject property is located in the suburb of Bulwer, which is bound the suburbs of Glenwood, Berea and the Umbilo Precinct. The property is near main transport routes with onvenient access to and from Durban’s Central Business District and all main beaches. The subject property is located near the Davenport Shopping Mall and Brand Road which hosts most commercial banks such as FNB, ABSA and Nedbank. The suburb is flanked to the north by the Western Freeway/N3 Freeway. The suburb is located on the outskirts of Durban’s CBD and close to the upmarket suburbs of Musgrave and Essenwood. The N3 Freeway is easily accessed.
The suburb is an interesting mix of both ‘old and new’ accommodation and commercial types. Many of the
original Victorian dwellings are still in place and the presence of mixed-use type accommodation seems to have blended well with the neighborhoods demographic profile. Small commercial nodes are established at major intersections. These are mostly geared towards boutique type retail accommodation, restaurants and small to medium sized office suites.
The industrial area of Congella is only a kilometer east.
The area is fully serviced with tarred roads, sewerage, refuse removal and Telkom networks. The property is within walking distance of Tertiary Education Establishments such as DUT.
The property consists of 13 sectional title apartment units and is known as Lyndley. There are also 4 sectional title garages. These apartments are tenanted with a Gross Annual Income of approx. R920k. The tenants are liable for their own utility expenses and are invoiced by the owner monthly. The property enjoys three road frontages.
To participate in this physical auction each bidder has to follow the registration procedures.