Tenanted Investment Property Located in Stanger

Tenanted Investment Property Located in Stanger

AUCT-001101 | On Auction

142 King Shaka (Couper) Street, Stanger, KwaZulu Natal


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Prominent Mixed-Use Investment Property, 142 King Shaka (Couper) Street, Stanger, KwaZulu Natal.

Fully tenanted investment property | Extent: ± 1 042 m² | Current Gross Annual Income: ± R 1.7 Million | GLA: ± 1 277 m² | 12 x 2 Bedroom Flats | 3 Commercial units

This prime investment property is centrally located within the Stanger CBD on King Shaka (previously Couper) Street. It is positioned west of the N2 Freeway and south of the R74 Main Road.

The property is made up of both a residential and commercial component. The residential component is made up of 12 x 2-bedroom flats with the commercial segment consisting of ground floor and first floor offices. These offices are presently occupied by long standing tenants, Cash Paymaster, Ilembe Tourism and Old Mutual. The property currently generates a gross annual income of ± R 1 780 000.00
The fact that the property comprises both a residential and commercial segment make it the Ideal investment opportunity.
Stanger or as it is now referred to as Kwadukuza is a town on the North Coast of Kwazulu-Natal, South Africa. The town was re-named to its Zulu name in 2006, before that it was officially known as Stanger.
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 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.

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

Commercial Type:
Commercial Building
Web Reference:
AUCT-001101
List price:
POA
Address:
142 King Shaka (Couper) Street, Stanger, KwaZulu Natal
Property Extent:
1042 m2
Auction Venue:
The Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
20 November 2019 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by bank guaranteed cheque. No cash. ID Document is required
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Auction Date: 20 November 2019 11:00 am

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