Student Accommodation Opportunity. Erf 4607 Cato Manor
Extent: 1241 m² | Student accommodation potential | 10 Student rooms already built | Approved plans for 44 student rooms | 1.5kms from UKZN Howard College | Great retail site | Potential for Industrial uses | Off- street parking | Basement level offices and parking
The subject property enjoys a prime location along Harry Gwala road and is positioned strategically next to Sasol Garage. The property enjoys huge exposure and large amounts of passing traffic which expands the properties versatile potential. The property offers the market a fantastic retail position and would cater for a hardware, butchery or even a cash and carry. The property is also within close proximity to the university of Kwa-Zulu natal and presents an ideal opportunity for a student accommodation conversion and already has approved plans for 44 rooms and 10 rooms already built. The property has newly built ablutions and neat showers. The current structure of the property would also be conducive to industrial uses and could be easily utilized for manufacturing, storage or warehousing.
The properties basement level consists of parking, offices and warehousing. This basement level could be reconfigured to create additional parking, student rooms, or more warehousing. The ground floor level which is open and rectangular in shape houses a restaurant, laundry, car wash and open decking for eating; the first floor is made up of a mezzanine floor and currently has the ten rooms, ablutions and showers.
The property is in good condition and is located close to the university which allows for a lucrative opportunity to service the student accommodation market but is also positioned on a busy road frontage allowing for a versatile potential.