CBD Retail Property

AUCT-000914 | On Auction

476 Dr Pixley Kaseme Street, Durban, KwaZulu Natal


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CBD Retail Property, 476 Dr Pixley Kaseme (West) Street, Durban

GLA: ± 626 m² | Prime trading position | Sold with supermarket and butchery movables | Vacant occupation

LOCALITY

The property is located towards the western end of Dr Pixley Kaseme (West) Street in Durban’s Central Business District and enjoys a strong position for pedestrian trade. Dr Pixley Kaseme (West) Street is a busy arterial road which is exposed to high vehicle and pedestrian traffic.

The property falls within the Durban Central precinct, as per eThekweni’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 eThekweni 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 has generated optimism in the area.
The DUT College and the Berea Tech are in very close proximity to the property. All amenities are in close proximity, within the CBD.

The property is adjacent to the West Street Mosque.

PRIMARY USE

This property is situated in the hustle and bustle of central town, which has excellent passing trade. The property shares its boundary with the West Street Mosque.

The property comprises of a double storey building with each floor being approximately 313m2. The front of the property is accessed directly off West Street and the rear of the building has a delivery point access off Saville Street. The upper level of the property is accessed via a goods hoist and stairwell at the rear and front of the property.

Ground Floor Retail
The ground level retail space was tenanted by Jwayelani butchery and supermarket and has direct access off West Street. The trading space is well designed and includes refrigeration display units, FMCG display shelving, butchery display and a street-side Shisanyama. The rear of the floor has a roller shutter access for deliveries and a goods hoist to lift goods to the first-level storage.

First Floor Storage
The first floor storage area is accessed via a staircase and goods hoist and houses large walk-in refrigeration and freezer units. There is also a staff canteen and ablutions.

First Floor Retail
There is a second retail space on the first level which is approximately 120m2. This space is independent from the lower retail and upper storage areas. The space is accessed directly off West Street via a glass door and staircase. The previous tenant was a small loans business and the space is designed with teller service hatches. This retail space is accessible via a roller-shutter door linking the rear storage area.

The sale will include all the movable assets and sold with vacant occupation.

To participate in this physical auction each bidder has to follow the registration procedures.

Commercial Type:
Commercial Building
Web Reference:
AUCT-000914
List price:
POA
Address:
476 Dr Pixley Kaseme Street, Durban, KwaZulu Natal
Property Extent:
626 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
17 April 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: 17 April 2019 11:00 am

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