Fuel Station Opportunity

AUCT-000791 | On Auction

79 Sydney Road, Congella, Durban, KwaZulu Natal


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Fuel Station Opportunity, 79 Sydney Road, Congella, Durban

Industrial zoning with Extent of ± 2 205 m² | Building area: ± 4 650 m² | Historically a fuel station site | Short term lease in place with Gross Annual Income of ± R1.2 Million

LOCALITY

The property is located within the suburb known as Congella Industrial, located south west of the Durban CBD. The property fronts onto Sydney Road (R102) with the rear of the property onto Badger Lane. Congella Industrial is bound by the residential node of Glenwood and Maydon Wharf, which is part of the Durban Harbour and east of the subject unit. The suburb is bisected by the M4 Southern Freeway and the subject scheme is set west of the M4 Highway.

The Metro Railway line is approximately 150m from the property, which is in close proximity of the Dalbridge Station. The area surrounding the subject property is one of high demand and has good occupancy levels. It is predominantly made up of large warehousing and distribution facilities. The subject property can be accessed directly off Sydney Road which is a one-way traffic is carrying route running in a southerly direction. Sydney Road is the main arterial road that carries traffic towards the south and connects to Edwin Swales V C Drive (M7). Alternate vehicular access is off Badger Lane.

The local vicinity together with the surrounding residential suburbs offers modern amenities. Public facilities and transport are provided on South Coast Road, which runs parallel to the M4. The area is fully serviced with tarred roads, sewerage, refuse removal and Telkom networks.

PRIMARY USE

There is currently a short term lease which expires in 2020 however the tenant will relocate with at least three months’ notice from March 2019. The rental is ± R1,2 Million per annum with a 10% escalation.

This property was previously a fuel station and had a supply agreement with BP. The current zoning allows for the use of a fuel station by consent.

The approximate gross building area is as follows:
Ground Floor Offices ± 190 m²
Ground Floor Showroom ± 410 m²
Ground Floor Workshop ± 670 m²
Ground Floor Canopy ± 230 m²
Parking ± 565 m²
First Floor ± 1 295 m²
Roof Change Room ± 210 m²
Roof Wash bay ± 80 m²
Roof Open Area ± 1 005 m²
Total ± 4 655 m²

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.

Viewing: 14 November 2018 from 14h00 to 15h00

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Commercial Type:
Industrial Property
Web Reference:
AUCT-000791
List price:
POA
Address:
79 Sydney Road, Congella, Durban, KwaZulu Natal
Property Extent:
2205 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
21 November 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: 21 November 2018 11:00 am

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