This 3-storey accommodation block, known as Colinton Court, is positioned on the outskirts of the Albert Park suburb of the Durban CBD. This node has a dynamic history where residents have been resilient, strong and diverse. A physical walk around of the area was conducted and it has been viewed that the area is experiencing improvement. The property is occupied by residents who are employed in the immediate area.
The property is positioned within walking distance to various tertiary institutions and provides an excellent opportunity for the transformation into student accommodation.

Each of the 3 floors has 2 wings on either side that are separated and accessed from a common stairway. Each wing further comprises of 3 rooms that share communal bathrooms, a toilet and a kitchen (shared by every 3 rooms). Prepaid electricity meters are installed at either wing of each floor which services all of the rooms. It should be noted that all of the prepaid meters within the building, all movable assets in the common areas and all movable assets within the, rooms and flats belong to the tenant and/or residents and are specifically excluded from the sale of the property.

In total, this property has 18 rooms with each room occupied by 3 or more people.The property is currently being used for residential purposes and generates a substantial rental being fully occupied. The current tenant charges residents per head with each individual room / flatlet being occupied by 3 or more people, depending on the configuration and size of each room / flatlet. This property is positioned at one of the busiest exit points of the Durban CBD, fronting College Lane that runs parallel to Anton Lembede (Smith) Street. It is located at the beginning of the M4 South Coast Freeway in an area that is one of nine Urban Development Zones (UDZ) forming part of Durban’s Inner-City revival program. The aim of creating this zone is to stimulate new investment and urban regeneration to the central parts of the eThekwini city, through tax saving incentives applicable to new development or building restoration. Accommodation blocks are currently in the process of being upgraded, whilst general landscaping and improved cleanliness and security have stimulated new investment in the area.

The property fronts onto College Lane and is positioned approximately 40m from the ICESA Education College and approximately 80m from the new China Mall on West Street. Albert Park is slightly south which is bound by the Victoria Embankment to its south, the M4 Southern Freeway to the west, Smith Street to the north and Russell Street to the east. It is the original residential precinct for the greater Inner City and hence comprises predominantly blocks of residential flats. Access to the property is from College Lane which links to Russell Street which in turn provide easy access to the commercial hub of Durban’s city. It is also within walking distance of the Victoria Embankment, and to tourist amenities such as Wilson’s Wharf and the recreational facilities offered by Durban’s Yacht mole.