Retail Retail Opportunity

AUCT-000863 | On Auction

55 Glenugie Road , Pinetown, KwaZulu Natal


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Prime Retail Opportunity, 55 Glenugie Road and 29 Manors Road, Pinetown

2 Ervens with an approved consolidated diagram | Total extent: ± 5 514 m² | Currently an established 26 year old business | High volume traffic intersection

Locality

The property is located along one of the busiest thoroughfares in the highway area with very a very high volume of traffic passing daily. The intersection includes a four lane road named Glenugie Road which is the main road linking the Pinetown CBD with adjacent suburbs such as Manors, Padfield Park and New Germany. The town planning scheme has been amended along Glenugie Road to provide for a commercial corridor. Most of these businesses trade by consent as is the case with the Black Forest Tavern. There are many well-known commercial and retail brands established in the area such as Spar and Tops, Tyson Properties and Wakefields. The road also caters for a number of Churches and a large Retirement Village. There is a medical centre adjacent to the property which is in progress of being developed.

Primary use

The subject property is branded as the Black Forest Tavern and is a 26 year old established business. The tavern has a pub with a restaurant focussed on German cuisine. The property holds a valid Liquor Licence.
There is a bed and breakfast establishment adjacent to the Tavern which consists of 12 x double rooms, two one bed cottages and a 3 bedroom house. The occupancy level of the B&B is between 50% and 75%.
The zoning of the property is General Residential 3 and obtained the business rights by consent. The zoning allows for the following uses without consent: Boarding House, Hotel, Multiple Unit Residential Development, and Retirement Centre. Use with consent: Telecommunication transmission station, Creche, Health Studio, Restaurant and Retail Shops.
The extent of the consolidated erven is ± 5 514 m² however the road reserve does reduce the development area to ± 4 454 m² . In terms of the current zoning the maximum permitted floor area is ± 1 336 m². The sale excludes all movable assets however the seller is prepared to negotiate movable assets on a separate agreement. The property is owner managed and will be sold with vacant occupation.

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Commercial Type:
Development
Web Reference:
AUCT-000863
List price:
POA
Address:
55 Glenugie Road , Pinetown, KwaZulu Natal
Property Extent:
5514 m2
Auction Venue:
The Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
07 February 2019 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: 07 February 2019 11:00 am

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