This incredibly well positioned property has been the home for popular national retailers for many years. This site parcel consists of 9 ervens with a combined extent of ±3 562 m². The Gross Lettable Area within the property is approximately 6 288 m². Currently, national retailers such as Woolworths, Studio 88, Ackermans, Pepkor Retail / Pep Cell and Honchos Flame Grilled Chicken occupy the property which is evidence of the transformation of the Durban CBD into an inspiringly diverse environment. There are a further 5 other tenants that occupy the property with strong leases in place.
This commercial and retail building is positioned within the heart of the Durban CBD, exposed to very high volumes of vehicular and pedestrian traffic. Dr Pixley Kaseme (West) Street is set for a transformation into a pedestrian dominated linear park and upgrading of the public transport connection through the Durban CBD has already begun. The property is located within the busiest node of the Durban CBD on Dr Pixley Kaseme (West) Street and also has access and frontage to Monty Naicker (Pine) Street.
The property falls within the Durban Central precinct, as per eThekwini’s new Urban Development Zone (UDZ). This is one of nine new precincts demarcated within the greater central city, together forming the UDZ. The aim of creating this zone is to stimulate new investment and urban regeneration to the central parts of the eThekweni city, through tax saving incentives applicable to new development or building restoration. The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and offices and flats on the upper floor levels.