Mixed-Use Block with Retail & Residential, 39 Hill Street, Pinetown, KwaZulu-Natal
Gross Annual Income: ± R5 million (including recoveries)| If Fully Let Potential Income: ± R6 Million | 27 Retail Shops & Storerooms (± 75% occupied) | 55 Apartments (±80% occupied) | 68 Secure Parking Bays | Available Bulk
The property is set on a level, rectangular site to the southern periphery of the Pinetown Central Business District. Pinetown forms part of the Inner West region of the eThekweni Municipality and is approximately 20 kilometres west of the Durban CBD and some 60 kilometres east of Pietermaritzburg. The immediate area comprises commercial properties of similar nature to the subject property which often comprise retail and office components. Crompton Street runs north & south and is the major route bisecting the city centre of Pinetown. It is a dual traffic carriage way and has high volumes of passing pedestrian and vehicular traffic.
The property is bound by Hill Street and Dales Avenue and enjoys access from both roads. The property comprises of a 7 storey building with ground floor retail and 6 floors of apartments. In total there are 55 apartments ranging from 34m² to 54m². The building has biometric access control and fully secured with CCTV surveillance.
Pinetown is ideally located and enjoys easy access to Durban Central as well as the Upper Highway area. Numerous good schools, popular shopping centres and public facilities are offered nearby. The neighbourhood offers affordable housing to first time home buyers, whilst also offering mixed use industrial activities in the surrounding suburbs of New Germany, Westmead and North Industria. The M19, M13 and N3 freeways are easily accessible.