High Trade Retail Property with Multiple Blue-Chip Tenants

AUCT-001398 | On Auction

High Trade Retail Property with Multiple Blue-Chip Tenants

112-114 King Shaka (Couper) Street, Stanger, KwaZulu Natal

BIDDING OPENS IN:


Register Now

Auction Date: 09 December 2020 11:00:00am

High Trade Retail Property with Multiple Blue-Chip Tenants. 112-114 King Shaka (Couper) Street, Stanger

Extent: ± 2043m² | High Trade Zone | A number of blue-chip tenants | High exposure onto Couper Street | Good income on the property | Gross Annual Income of R4.7 million (Incl. Recoveries) | Massive upside on rental



LOCALITY

This property enjoys an excellent location in the high-trade zone of the Stanger CBD on the busy King Shaka (previously Couper) Street, and benefits from the heavy foot traffic and high volumes of vehicular traffic.

The property is considered prime with blue chip retail tenants including Total Sports, Mr Price and Foschini, and is positioned directly across from the Magistrate’s Court, the KwaDukuza Municipal Offices and the Stanger Post Office. Neighbouring properties include the Ex-Shoprite Checkers Building and OK Furniture.

PRIMARY USE

This property, offers a GLA of approximately 3 400m², and comprises a neighbourhood convenience retail centre known as ‘Stanger Centre’, which presents a lucrative investment opportunity with a good tenant mix.
The blue-chip retail tenants and commercial tenants have occupied the property for many years, and ease of access and free-parking is an additional positive drawcard held by this convenience centre, which is exposed to a high volume of foot and vehicular traffic. The annual income including recoveries is ±R4.7 million.

Constructed on 3 levels, the building features retail space on the lower ground floor and accessed via the rear of the building; ground floor retail fronting onto King Shaka Street; and first floor office suites.

Emergency staircases open to the rear of the building.

The ground floor retail accommodation offers 4 shops with maximum exposure off King Shaka Street, accessed via the covered walkway to the front facade.

All shops include internal ablutions and kitchenettes to the rear of the units.

The ‘Total Sports’ and ‘Mr Price’ shops have ducted air-conditioning systems; whilst the ‘Foschini’ and ‘Electrical’ shops have split unit air-conditioning systems. The ‘Mr Price’ includes a goods hoist down to the lower ground floor, where there is a storage and delivery point to the rear of the building. Also on the lower ground floor are two further retail units opening onto an open patio raised above and overlooking a rear public parking lot.

The first-floor offices feature 18 office suits of varying sizes, and set around a central open courtyard space. The offices share common ablutions, with some offices having their own ablutions as well as split air-conditioning. The property benefits from its position directly across from the KwaDukuza Magisterial Court, as many businesses would like to position their offices in close proximity to the Court.

Commercial Type:
Retail Space
Web Reference:
AUCT-001398
List price:
POA
Address:
112-114 King Shaka (Couper) Street, Stanger, KwaZulu Natal
Auction Venue:
The Durban Country Club
Isaiah Ntshangase Road
Durban
KwaZulu Natal
Auction Date:
09 December 2020 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by bank guaranteed cheque or EFT. No cash. FICA Document are required
Luke Hearn
                                                     In2assets Representative

Property Agent


Luke Hearn
071 351 8138
[email protected]


Contact Us!



-->