Prime Commercial Investment Property in Pietermaritzburg

Prime Commercial Investment Property in Pietermaritzburg

AUCT-001049 | On Auction

180 Langalibalele Street, Pietermaritzburg, KwaZulu Natal

Please login or register for property info pack.

Prime Commercial Investment Property, 180 Langalibalele Street, Pietermaritzburg

Located in High Trade Zone | Extent: ± 1104 m² | GBA: ± 1 065 m² | Current Gross Annual Income: ± 624K | Current Annual Income (including recoveries): ± 937K | Potential Annual Income: ± R1 600 000 | Lift Access to First Floor | Paraplegic Friendly

This beautifully restored building is situated in the prime part of the Pietermaritzburg CBD and fronts onto Langalibalele Street with the rear of the property bordering Carbineer Street. Langalibalele Street is the main Taxi Route into the city. The property lies within a high trade zone and is exposed to high levels of vehicular and pedestrian traffic. The property is within 500m to the High court, KZN Legislature, SA Post Office, numerous Government departments and prime trading areas. It is adjacent to Standard and ABSA banks.

The property comprises a double storey commercial building. The ground floor has an approximate GLA of ± 544 m2, of which 439 m2 is currently leased by Bayport who pay a monthly rental of ± R 52 000 per month for this section. The section occupied by Bayport consists of a front customer service area, a configuration of open plan offices, kitchen, pause area and male and female ablutions. Adjacent to Bayport on the street level is 105sqm of High Density Retail Space with its own access and comprises a front customer service area fitted with tele service hatches and a manager’s office at the rear.

The 1st floor consists of 550sqm of excellent condition office made up of ± 14 airconditioned individual offices created with dry wall partitioning, an executive boardroom with bar, Kitchen, male and female ablutions. These offices are fitted with a biometric access system.

The first floor can be accessed via lift or staircase located at the front of the building or alternatively from a steel staircase from the rear parking area.

The property also has Access from Carbineer Str that leads to a well secured and completely paved yard area with 21 Covered Parking Bays, which are highly sought after in town.

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

Commercial Type:
Commercial Building
Web Reference:
List price:
180 Langalibalele Street, Pietermaritzburg, KwaZulu Natal
Property Extent:
±931 m2
Auction Venue:
The Durban Country Club
Isaiah Ntshangase Road
KwaZulu Natal
Auction Date:
24 October 2019 11:00 am

Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by bank guaranteed cheque. No cash. ID Document is required.
Auction Date: 24 October 2019 11:00 am

Introduced by:
Remax Midlands

Remax Midlands Broker Logo

Participate in our next upcoming combined auction and enjoy maximum exposure in the market place.