Prominent Retail Building Stanger CBD

AUCT-000933 | On Auction

104 King Shaka Street, Stanger, KwaZulu Natal


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Prominent Multi-Tenanted Retail Building, 104 King Shaka (Couper) Street, Stanger CBD

Opening Bid R15 Million

Extent: ± 3 045 m² | Potential Gross annual income: ± R3.8 Million (Including recoveries) | Investment or End user opportunity | National Tenants | Prime road frontage in busy street

LOCALITY

The subject property is centrally located within the Stanger CBD on the King Shaka & Chief Albert Luthuli Streets. It is positioned west of the N2 freeway and south of the R74 Main Road. Stanger or as it is now referred to Kwadukuza is a town on the North Coast of KwaZulu-Natal, South Africa.

Kwadukuza is a cane growing centre and a bustling town. Stanger became a municipality in 1949 and is the
commercial, magisterial and railway centre for one of the more important sugar producing districts.
The modern day town area of Kwadukuza has a distinct eastern flavor due the import of Indian labourers during the late 1800s to early 1900s to work under the sugar cane barons. The expansion of the Indian community brought about a change in the economical and cultural attributes of Kwadukuza.

The macro location of the property is good due to its close proximity to Ballito and Durban's Central Business
District which is approximately 60km from Stanger. The micro location of the subject property is excellent as it
is within close proximity to the municipal offices and there is excellent passing trade, both vehicular and
pedestrian.

PRIMARY USE

This prominent located and well-maintained building in the middle of Stanger’s central business district is situated road level to the busy and sought-after King Shaka Street. The building has been home to well known household tenants such as Markhams, American Swiss, Edgars & Jet. The property has also been home to The Horse Shoe Ranch for many years.

All retail sections of the subject property are located on the ground floor of the building utilizing the high levels of pedestrian and vehicular traffic. The properties have incredible exposure and ease of access allows for a variety of retail shops to be successful. Each section of the property has ducted air-conditioning, their own ablutions and kitchen facilities.

Currently the property has three tenants and two vacancies. Current tenants include Markhams, American Swiss and The Horse Shoe Ranch. The Ex-Edgars section has ample secure undercover parking with 36 bays. The basement has direct access into the store. Additional parking can be found behind the building and along the roads in front of the property.

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-000933
List price:
POA
Address:
104 King Shaka Street, Stanger, KwaZulu Natal
Property Extent:
3045 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
19 June 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: 19 June 2019 11:00 am

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