Investment Property with National Tenant. 329 Sydney Road, Congella, Durban
GLA: ±5 980 m² | Gross Annual Income: ± R3.3m| 5-year lease in place (plus 5-years) | Warehouses, factories, showroom and offices
This industrial property comprises consists of 3 buildings. The first building comprises the ground floor showroom and first floor offices measuring approximately 3 308 m². The second building comprises of 4 storeys of factory spaces, each approximately 462 m² of building area. The third building comprises of two warehouses with a gross area of approximately 1000 m². There are approximately parking bays on site. The property is currently occupied by International Company Wardkiss Builders Hardware with a strong lease in place. The approximately Gross Annual Income amounts to R3 600 000.00(excluding Vat).
The property is located within the suburb known as Congella Industrial, which is situated south west of the Durban CBD. It is positioned at the corner of Scott Street and Sydney Road. Congella Industrial is bound by the residential node of Glenwood and industrial node of Maydon Wharf, which is part of the Durban Harbour and east of the property.
The suburb is bisected by the M4 Southern Freeway, and this property is set west of the M4 Highway.
The Metro Railway line is a short distance from the property, and the property is in close proximity to the Dalbridge Station. The area surrounding the property is one of high demand and has good occupancy levels. It is predominantly made up of large warehousing and distribution facilities. The property can be accessed directly off Sydney Road, which is a one-way traffic carrying route running in a southerly direction. Sydney Road is the main arterial road that carries traffic towards the south and connects to Edwin Swales V C Drive (M7).
The local vicinity together with the surrounding residential suburbs offers modern amenities. Public facilities and transport are available in the immediate vicinity, which runs parallel to the M4. The area is fully serviced with tarred roads, sewerage, refuse removal and Telkom networks.