The subject property is known as Radspec and is situated between Sydney Road, Mutual Lane and Moore Road, in Durban. Sydney Road is an arterial road feeding from Smith Street in the Durban CBD and Moore Road to the Berea. These routes form linkages to the N3, Victoria Embankment, the Port of Durban and the M4 North. It is thus well located.
The subject property comprises five (5) attached buildings set at road level on an irregular shaped site. The improvements are part two-storey industrial structures generally formed of a concrete-framed frame with brick infill panels, metal or wooden window frames and covered by a pitched roof or flat concrete roof.
The gross building area of the improvements is 7,733 m² in extent. There are currently 11 lettable spaces with 10 tenants. The current gross annual income is R4.6m. This is a fantastic investment opportunity in a high demand area.
