Central Retail And Commercial Building, 372 Dr Pixley Kaseme (West) Street, Durban CBD
Gross Lettable Area: ± 2 200 m² | Net Annual Income: ± R9.1 million | Triple Net Lease (including building maintenance costs and building repairs costs) | Situated within busiest trade zone of SA
The property is located within the busiest node of the Durban CBD at the corner of Dr Pixley Kaseme (West) Street and Joe Slovo (Field) Street. The property 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 subject property comprises mostly of street level retail space on the ground floor and offices and flats on the upper floor levels.
The property is on a level site which is rectangular in shape and offers frontage onto Dr Pixley Kaseme (West) Street, and Joe Slovo (Field) Street, which are subject to high volumes of pedestrian and vehicular traffic.
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