AUCT-001407 | SOLD

Residential Apartment Block Durban CBD

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    2022-11-17 11:00:00
    Residential Apartment Block Durban CBD

    PORTFOLIO DISPOSAL : Residential Apartment Block. 76 McArthur Street (Known as Treves Court), Durban CBD

    Gross Building Area: ± 1 000 m² | Gross Annual Income: ±R310 K | Vacant occupation on 1 January 2024 | On going income generating property | Ideal for student accommodation | Can accommodate ± 50 people

    Durban Central, KwaZulu Natal


    This 4-storey accommodation block, known as Treves Court, comprises of 9 flats, 4 separate rooms at rear ground floor level and 3 small retail shops. The ground floor comprises 3 shops fronting onto McArthur Street, the common foyer area of the block and the meter room. There are 4 separate rooms that share a kitchen, toilet and bathroom are positioned at the rear of the ground floor, close to the open court yard area.

    The upper floors comprise of 9 flats, with 3 flats on each floor. All of the flats comprises of an plan lounge and dining room, enclosed balcony, kitchen and bathroom. All flats have pre-paid electricity meters.
    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 shops, rooms and flats belong to the tenant and/or sub tenant are specifically excluded from the sale of the property.
    The flats are currently being occupied by families and individuals and with the current configuration this property can be accommodated by approximately 40 people. It has the potential to be converted into student accommodation due to the large lettable space within each apartment.

    This property is located approximately 150m from Albert Park, south west of the main Durban CBD. The property is positioned approximately 150m from the Alexander Street Taxi Rank, towards the end of McArthur Street. This 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 McArthur Street, two properties away from the corner of Alexander Street and McArthur Street. Clarendon Home, a block of flats to over 300 residents is positioned two properties away. Albert Park is bound by the Victoria Embankment to the 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 McArthur Street which links to Russell Street and Broad 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.
    Commercial Type:
    Commercial Building
    Web Reference:
    AUCT-001407
    Final price:
    POA
    Address:
    76 McArthur Street (Known as Treves Court), Durban Central, Durban, KwaZulu Natal
    Auction Venue:
    Mount Edgecombe Country Club
    Durban
    KwaZulu Natal
    Auction Date:
    17 November 2022 11:00 am



    Auctioneer:
    Auction Terms and Conditions:
    R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

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