CBD Commercial Property Including Development Land, 62 Okes Street, Greytown
Current Gross Annual Income: ± 493K | Opposite busy shopping centre | Adjacent development land of ± 1 500 m²
The subject property is located within the heart of the Greytown CBD, Opposite Mavundla Square shopping centre and enjoys 3 road frontages, being Voortrekker Street, Okes Street and Durban Street. The R74 Main Road becomes Durban Street as it passes through the city centre. The full spectrum of municipal services is available, and emergency services such as SAPS, medical and firefighting services are well represented in the area.
The subject property enjoys prime position and maximum exposure from 3 Road frontages, being Okes Street, Voortrekker Street and Durban Street. The R74 becomes Durban Street as it passes through the Greytown CBD. Located directly opposite the Mavundla square shopping centre and KFC the property offers great potential for further commercial development. The property is made up of various shops and offices with one large flat which was previously part of a Hotel. The property also provides for additional development land of approximately 1 500 m2 , which is adjacent to the existing building, allowing a good expansion of trading space.
The main building consists of a ground floor shop, with a workshop at the rear, and a large flat on the first floor. The flat consists of 9 bedrooms kitchen, general bathroom lounge and dining area. Adjoining the main building are 4 Line shops with ablutions at the rear. The property further comprises 3 offices and a shop utilised as a tattersall or betting facility.
There are also 4 rooms with communal ablutions located at the rear of the property as well as a car wash with a canopy to cater for approximately 4 vehicles. The property is currently fully tenanted and generates a gross annual income of ± R 493 000.00
The subject property is situated within the inland township of Greytown, which is located some 150 kilometres from Durban and approximately 60 kilometres from Pietermaritzburg. Greytown is at the hub of a network of roads leading to Colenso, Mooi River, Stanger, Pietermaritzburg and Dundee and is formed on the banks of the Umvoti River. The town boasts a wealth of Victorian architecture and the surrounding scenery ranges from rolling fields of sugarcane to timber plantations and hills covered in aloe and euphorbia.
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