Mixed Use Commercial Building, 507 Lillian Ngoyi (Windermere) Road, Morningside, Durban
Gross Building Area: ± 370 m² | Potential gross annual income: ± R895K | Prime location within excellent exposure | Situated within busiest trade zone of Morningside
The property comprises a mixed-use commercial building situated in a sought-after location within the Durban’s Morningside suburb and is exposed to high levels of vehicular and pedestrian traffic. The property is positioned amongst popular restaurants, coffee shops and this area is known to be a prime position for the side walk café type commercial buildings; office buildings; retail components and night spots which has a warm and unique vibe.
Three retail shops front onto Lillian Ngoyi Road. The first floor comprises a pizza restaurant with catering kitchens and store rooms at the rear. The second floor comprises of a large open plan office. At the rear of the property there are 2 buildings that comprises of offices and store rooms. This property would suite an end-user an investor as this property accommodates 7 tenants easily.
The property is situated in Morningside, just north of the suburb of Windermere. Morningside is positioned west of the Umgeni and north of Stamford Hill, Durban's sports hub. Many properties in the area have been upgraded and converted into office premises. The property is an elevated site which fronts onto Lillian Ngoyi (Windermere) Road, one of the main roads that runs through the suburbs of Windermere. It is a built up area, with numerous sectional title complexes and historic residential dwellings in the immediate vicinity as well as a number of commercial uses.
The neighbourhood is home to many businesses operating from converted dwellings. There is a substantial residential community that enjoys a close proximity to Florida, Stamfordhill as well as to Lillian Ngoyi Road's cosmopolitan atmosphere. It is considered an upmarket suburb. It is a sought after location for mixed use activities. Various restaurants and cafes are within walking distance, including the Windermere Shopping Centre. Small commercial nodes are established at major intersections which are mostly geared towards retail accommodation, offices and restaurants.
As mentioned above the property fronts onto Lillian Ngoyi Road, and is easily accessed via many of the main arterial roads from the greater Berea, Sydenham and Umgeni region. The property enjoys easy access to the Central Business District of Durban. Musgrave Centre and Clifton Preparatory School are nearby.
Viewing: 7 June 2019 from 11h30 to 12h30
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