DURBAN MONTHLY ONLINE AUCTION - Investment Unit. Unit 63 The Palms, 14 Palm Boulevard (Protea Hotel), Gateway Precinct
Extent: ± 28 m² | Gross Annual Income: ± R 220K | Ground floor unit of the Protea Hotel with high exposure | 1 Undercover secure parking bay | Excellent investment opportunity within the sought-after Gateway Precinct
Positioned within a luxury 4-star hotel, this ground floor unit is regarded as a sought-after retail unit / destination. Designer brands have become the new norm for luxury hotel boutiques, and this helps lure in the guests. Owning a retail unit within a luxury hotel assists hotels which are constantly evolving to stay on the cutting edge of luxury.
Section 63 The Palms is positioned at the entrance of the Protea Fire & Ice By Marriott Hotel and as such exposed to high levels of pedestrian and vehicular traffic. With high glass windows this modern, light and bright unit is impressive all around. The unit is regarded as an executive retail unit with fixtures (cupboards and shelves) of the highest standards that will offer an end user or investor elegance to own a unit that is exclusive with a contemporary style. The Protea Fire & Ice Hotel By Marriott recently completed an upgrade to the hotel amounting to approximately R55 million. An undercover secure parking bay (P194) is exclusively allocated to the unit. This parking bay is positioned on the same level of Palm Boulevard just after the boom gate into the hotel.
This unit with such low expenses of less than R5000.00 (Water, Electricity, Levies and Rates) per month has an attractive income. Note, Water and Electricity is paid by the tenant. The tenant has established herself and has been on the premises for over 5 years.
The unit is set on the ground floor within a mixed-use scheme in the Gateway Precinct, known as The Palms. The Palms, also known as the Protea Fire & Ice Hotel By Marriott is positioned towards the eastern periphery of the Umhlanga New Town Centre opposite the Gateway Theatre of Shopping. The Umhlanga Ridge New Town Centre as well as the Gateway Precinct offers advantages of location which are unique to South Africa. It is a bustling business environment, 15 minutes north of the Durban Central Business Centre and the Durban Harbour. The location enjoys easy access onto a network of major roads and with the new King Shaka International Airport approximately 15 minutes north.
The local vicinity is characterized by a mixture of upmarket retail uses and has many modern and new amenities nearby. It is a mixed-use node comprising of retail, office and residential uses. A large amount of mixed-use development is still under construction and expected to be completed before the end of 2020.
The centre is surrounded by well-established residential and office nodes. The nucleus of this node is the Gateway Theatre of Shopping which offers all necessary modern amenities.
Umhlanga Rocks Drive is easily accessible and provides easy access to the M4 Highway to the east. The M41 is also easily accessed, which continues westwards to the N2 National Freeway. The area is conveniently positioned between the N2 National Freeway and the M4 Metropolitan Road. Umhlanga Rocks Drive and the M4 provide easy access to the city centre.
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