High-Trade Node Retail Investment Property

High-Trade Node Retail Investment Property

AUCT-001019 | On Auction

30 Chief Albert Luthuli Street, Stanger, KwaZulu Natal


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High-Trade Node Retail Investment Property, 30 Chief Albert Luthuli Street, Stanger

Extent: ± 204 m² | Investment property | Gross Annual Income: ± R321 840 | 5 Year Lease in place | Prime road frontage

LOCALITY

The subject property is centrally located within the Stanger CBD at 30 Chief Albert Luthuli Street. 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

The subject property is well located within an extremely high trade node boosted by the huge amounts of vehicular and pedestrian traffic constantly passing by.

The property is 204m2 and has a solid tenant who has been in the property for the past 6 years. There are 4 years left on a 5-year lease renewal. The current tenant is the Lower Tugela Pharmacy.

The gross annual income of the property is ± R276K. The prime location of the property allows for a versatile offering and would suit most trade-oriented retail businesses.

The interior of the property comprises a large retail section, a service counter, a sales counter and storerooms and offices at the rear of the property. The property also has two bathrooms and a kitchenette.

Viewing: 13th September 2019 from 10h00 to 12h00

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

Commercial Type:
Retail Space
Web Reference:
AUCT-001019
List price:
POA
Address:
30 Chief Albert Luthuli Street, Stanger, KwaZulu Natal
Property Extent:
204 m2
Auction Venue:
Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
18 September 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: 18 September 2019 11:00 am

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