Large Block of Flats

AUCT-000779 | On Auction

29 Gillespie Street, Durban Central, Durban, KwaZulu Natal


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Large Block of Flats, 29 Gillespie Street, Durban CBD

86 Beachfront apartments with street level retail | Could accommodate approximately 220 students | Current Gross Annual Income: ± R4 Million

LOCALITY

South beach Durban. 100m from the beachfront.

PRIMARY USE

Available for sale along the Durban Beachfront area is this free standing residential building with ground floor retail space.

Currently made up of 86 large Bachelors (possible 1 bed conversion) and located close to the beach, shopping and CBD this property is ideal for a student accommodation conversion for approximately 220 students, sectional title sale or hold as a free hold multi -tenanted investment.

With a major focus on free standing Residential blocks for Sale and the massive demand for CBD accommodation this property is a must see for any serious property investor.

Durban is the largest city in the South African province of KwaZulu-Natal and the third most populous in South Africa after Johannesburg and Cape Town. It is also the second most important manufacturing hub in South Africa after Johannesburg. Located on the east coast of South Africa, Durban is famous for being the busiest port in the country. It is also seen as one of the major centres of tourism because of the city's warm subtropical climate and extensive beaches.

Viewings: 3 & 17 October - 14h00 to 15h00

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Commercial Type:
Block of Flats
Web Reference:
AUCT-000779
List price:
POA
Address:
29 Gillespie Street, Durban Central, Durban, KwaZulu Natal
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
25 October 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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DIRECTIONS
Auction Date: 25 October 2018 11:00 am

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