Prime Investment with Established Tenant, 74 Intersite Avenue, Umgeni Business Park
Extent: ± 1 320 m² | Ideal retail position | Well established tenant | On-site parking | High passing trade | Leasehold property (30 years remaining) | Gross annual income: ± R 1 Million
The property is situated within the Umgeni Business Park, a well-developed and popular commercial node just off Umgeni Road. It fronts onto Intersite Avenue, south of the Umgeni River. Intersite Avenue is one road north and parallel to Umgeni Road, which provides direct access to the N2 Freeway to the west and to the Durban CBD to the east.
This node is known as the Blue-Chip business hub. Developments found here are typically of a service retail and industrial nature but also include high grade offices. The node is mainly characterised by established tenants and/or owner occupiers as well as being in close proximity to the popular Springfield Value Centre and Makro Shopping Centre.
Intersite Avenue is a prime road within the Umgeni Business Park which brings high levels of both vehicular passing trade and destination clientele. The local vicinity offers modern day amenities and public facilities with Umgeni Road providing access to any amenities that may not be in the immediate location. The area is fully serviced.
The double volume industrial warehouse has been reconfigured and upgraded to suit the needs of the current long-term tenant. The property has A grade finishes and is currently being utilized as a retail outlet for the fishing tackle chain, Basil Manning.
The property is accessed easily from Intersite Avenue and comprises ample onsite parking. The property allows for an easy entrance and exit with the flow of cars being facilitated by two access points. The property also boasts a roller door to accommodate deliveries. The property has been completely reconfigured with screeded floors, an upgraded ceiling with ample lighting, a wooden mezzanine, a coffee bar and large restrooms for clients. The property also boasts storage and workshop areas, and a concrete mezzanine with office space.
The property is fully tenanted by Basil Manning who utilize the property has their head office/store. The property is in immaculate condition and poses a great investment opportunity in the correct location.
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