Investment Opportunity In High Density Retail Trading Area, 393 Dr Pixley Kaseme (West) Street, Durban CBD
Gross Lettable Area: ± 1 450 m² | Gross Annual Income: ± R2.3 Million | Quality tenant – Good going concern with sound yields as investments | Prime location exposed to mass markets | Situated within busiest trade zone of SA
This frontline retail property has been recently renovated, upgraded internally to modern retail shop standards. Externally the front façade has also been modernised. Sprinkler systems and fire safety equipment are in place. The ground, first and second floors are all occupied by Sports Scene and the basement is vacant. The lease terminates in October 2026.
This property offers the Purchaser the opportunity for an increase in future yields due to the quality tenants, long leases and intrinsic values. The location is prime and attracts tenants offering goods and services to a mass market.
The property is located within the busiest node of the Durban CBD on Dr Pixley Kaseme (West) 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 which is subject to high volumes of pedestrian and vehicular traffic.
To participate in this physical auction each bidder has to follow the registration procedures.