Central PMB Investment Property For Sale By Auction

AUCT-000838 | On Auction

1 Loreen Court, 132 Church Street, Pietermaritzburg, KwaZulu Natal


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CBD Investment Building, Section 1 Loreen Court, 132 Church Street, Central Pietermaritzburg

Extent: ± 595 m² | Annual income: ± R 486K | Tenancies: Multi-tenanted, short term leases

Located on the station side of Church Street, Pietermaritzburg is this sectional title business premises for sale. There is a constant flow of foot traffic from the West Street taxi rank and business from the FET college across the road. Adjacent to the property is the large old “Trust Bank” building that has the SAPS head office as well as the department of labour.

Opportunities exist with this property for an investor who wishes to have a multi-tenanted portfolio. The current Gross monthly rental is ± R 40 500 from 11 tenants. There is an end-user option to convert this space back into a single unit and enjoy street frontage onto busy Church Street. The total size of the section is ± 595 m². The levy is ± R5 090 per month and the rates are ± R2 261 per month. The rear of the premises does have an entrance through a servitude off Temple Street. There is an area that could offer a little private parking here.

Pietermaritzburg is the capital and second-largest city in the province of KwaZulu-Natal, South Africa. It was founded in 1838 and is currently governed by the Msunduzi Local Municipality. Its Zulu name uMgungundlovu is the name used for the district municipality. Pietermaritzburg is popularly called Maritzburg in English and Zulu alike, and often informally abbreviated to PMB. It is a regionally important industrial hub, producing aluminium, timber and dairy products, as well as the main economic hub of UMgungundlovu District Municipality. The public sector is a major employer in the city due to the local, district and provincial governments being located here. It is home to many schools and tertiary education institutions, including a campus of the University of KwaZulu-Natal. The current population is estimated at over 600,000 residents (including neighbouring townships) and has one of the largest populations of Indian South Africans in South Africa.

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Commercial Type:
Commercial Building
Web Reference:
AUCT-000838
List price:
POA
Address:
1 Loreen Court, 132 Church Street, Pietermaritzburg, KwaZulu Natal
Property Extent:
595 m2
Auction Venue:
Victoria Country Club
Peter Browne Drive
Pietermaritzburg
KwaZulu Natal
Auction Date:
28 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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Auction Date: 28 November 2018 11:00 am

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