Technology House Office Block Investment

AUCT-001587 | On Auction

Technology House Office Block Investment

29 Salisbury Avenue, Westville, KwaZulu Natal

Technology House Office Block Investment. 29 Salisbury Avenue, Westville

Extent: ± 2720 m²| GBA of ± 2 939 m² | Annual Rental - ± 2.2 Million | Fantastic Location | Provides a great redevelopment opportunity | End user opportunity | Optional vacant occupation


This property is located on the corner of Salisbury Ave and Jan Hofmeyr Road in Westville. Westville is an established residential area situated ±10km west from the Durban central business district and ±25 km from the Umhlanga CBD. The property enjoys easy access to the busy arterial Jan Hofmeyr Road, and is situated across the road from the Westville Hotel and adjacent to a new HBZ Bank office development. The Westville CBD is located 2km to the West of the property; the King Cetshwayo (M13) highway link is situated 1km to the East of the property.

Jan Hofmeyr Road has been an anchor point in Westville central since the neighbourhood was established, and has held a mix of residential and commercial enterprises for decades. The 3km arterial road stretches through Westville central, linking into the M13 freeway at various points as well as having access to other national infrastructure. Jan Hofmeyr Road connects to the M13 highway on both ends and links into Roger Sishi Road (old Blair Atholl Road) that connects to the M19 highway. It is also easily connected to the N3 national freeway, making access into and out of the road convenient for both drawing customers and work.

The property is surrounded by prominent amenities including Westville Boys/Girls High School, Westville Primary School, the Westville Jaame’ Masjid, Westville Methodist Church, Village Market Shopping Centre and Waxy O’Connors Irish pub which are longstanding landmarks.

PRIMARY USE:
The highly exposed ‘Technology House’ has become a very popular commercial building in Westville Central. The property comprises a 3-storey office complex together with ground and lower ground floor covered and open parking, all enclosed with precast and iron walling and a remote-controlled access gate.

The 3-storey building is in the shape of a ‘U’ with offices located on all three floors and the ground floor. The property has ample parking with ground and lower ground covered parking. A small storeroom is located above the 2nd floor.

The property is in good condition overall and offers 9 lettable spaces with a total GLA of ±2 807m². Currently, the property is roughly 60% let with a gross annual income of R2.5m per annum. This set-up suits and end user who can use what they need and benefit from the good income being generated currently, alternatively this may also suit an investor buyer as the rental offers good upside. The property’s fantastic location, close to Westville Boys High School and various retail and destination centres allows for a redevelopment or repurposing of the building. One could easily repurpose the building into a medical centre, call centre, college/educational facility or even a boarding house.

Commercial Type:
Commercial Building
Web Reference:
AUCT-001587
List price:
POA
Address:
29 Salisbury Avenue, Westville, KwaZulu Natal
Auction Venue:
Mount Edgecombe Country Club
Mount Edgecombe Country Club Estate
Mount Edgecombe
KwaZulu Natal
Auction Date:
23 February 2022 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 23 February 2022 11:00:00am


Luke Hearn
                                                         In2assets Representative

Property Agent


Luke Hearn
Show number
[email protected]


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