Gross building area: ± 840 m² | Gross Annual Income: ± R580 000 | Ground floor – workshop/warehouse | Upper floor – 12 offices | Ideal end user and investment opportunity
This double storey fully tenanted commercial building fronts onto Cato Street, approximately 260m from the Durban Car Terminal and within walking distance to The Victoria Embankment. The property comprises of a workshop/warehouse on the ground floor and 12 offices on the first floor.
The building falls within the Durban Central precinct, as per eThekwini’s new Urban Development Zone (UDZ). This is one of nine new precincts demarcated within the greater central city, together forming the UDZ. The aim of creating this zone is to stimulate new investment and urban regeneration to the central parts of the eThekwini city, through tax saving incentives applicable to new development or building restoration.
The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and offices and flats on the upper floor levels. Some accommodation has been upgraded, whilst general landscaping and improved cleanliness and security have stimulated new investment in the area.
Cato Street is the continuation of Florence Nzama (Prince Alfred) Street and the M4 Arterial Road from the north coast. The Durban Harbour is easily accessible as well as the N3 Freeway. The property is well serviced in terms of necessary amenities including emergency, medical, educational services and transport facilities.
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071 383 1735