Upmarket Investment Building

AUCT-000164 | SOLD

Durban, Durban, KwaZulu Natal


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Upmarket Building In Durban High Court District, 30 Dullah Omar (Masonic) Grove, Durban

GBA: ± 1 935 m² | Ground floor: Coffee shop | Floors 1-4: Office | High quality finishes | Gross annual income ± R1.235 Million plus recoveries | Investor or end user opportunity | Walk to Durban High Court

This almost ± 2 000 m² tenanted commercial property, which is located within walking distance of the Durban High Court, will be sold by auction on 25 February. The property has recently been completely refurbished and boasts high quality finishes throughout. The ground floor is occupied by a coffee shop which services the many attorneys, lawyers and advocates in attendance at the courts daily. The upper floors are currently occupied by lawyers and government tenants. The property has some off street parking and additional parking is available to tenants at a neighbouring parking garage. The property has a state of the art air conditioning system which is energy efficient thus keeping running costs to a minimum. While still to be confirmed, a major revamp of the Durban High Court precinct has been mooted, which will greatly enhance the aesthetics of the area as well as would be a potential boost to property values in the area. The property currently generates an annual income of approximately R1.235 Milliion per annum at an average monthly rental rate of R90/m² GLA/month, which is consistent with the area.

Commercial Type:
Commercial Building
Web Reference:
AUCT-000164
Final price:
POA
Address:
Durban, Durban, KwaZulu Natal
Floor space:
1935 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
25 February 2016 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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