AUCT-001885 | SOLD

Residential Block within Musgrave Centre Precinct

234 Stephen Dlamini (Essenwood) Road, Musgrave, eThekwini Metropolitan Municipality, KwaZulu-Natal

Residential Block within Musgrave Centre Precinct. 234 Stephen Dlamini (Essenwood) Road, Musgrave

Site Extent: ± 1 979 m² | 3 Storey Block – 56 Rooms (all en-suite) | Accommodation for ± 113 people | UKZN Lease expiring November 2023 – Gross Annual Income ± R3.4 Million | Ample Parking Area | Pool, Braai Area, Laundry, TV Room and Study Room | Sold vacant occupation | Upmarket & sought after node | Positioned adjacent to Musjidus Salaam Mosque | Positioned opposite Essenwood Road Park


This residential block presents the market with various opportunities regarding use, ideal to be used as a step down or frail care facility, student accommodation or even as private residential.

Positioned next door to the Musjidus Salaam Mosque, a stone throws away from the New Bridge College and Durban High School, this property presents the market with a rare opportunity in this upmarket node.

The property comprises of a single storey building at the front which then links to a triple storey block at the rear. Furthermore, there are single storey outbuildings situated at the north eastern boundary of the property.

Pedestrian and vehicular access is obtained off Stephen Dlamini (Essenwood) Road with parking available at the rear. There are fire hoses, fire extinguishers and some CCTV cameras throughout. The property is serviced by a lift that is in working order.

The property consists of 56 rooms that can accommodate 113 people. With the exception of 5 rooms which share communal bathrooms, all of the remaining rooms have their own bathrooms comprising of a shower, basin and toilet. Majority of the rooms are 2 sleepers however there are a couple of 1 & 3 sleepers as well. All of the rooms consist of single beds, study tables, cupboards and fridges.

The ground floor comprises of a reception office, a spacious TV room, study room and a large kitchen equipped with cupboards, stoves and microwaves.

The accommodation (56 rooms) are spread through the property, utilizing the 3 storeys and outbuildings. Amongst the outbuildings, there is a laundry room, pool, braai area and wash area. Note that some of the rooms enjoy the benefit of patios and balconies.

The property is located in the suburb of Musgrave and is approximately 600 m from the Musgrave Shopping Centre. It is positioned opposite the Essenwood Road Park, next door to the Mosque (Musjidus Salaam) and close to the busy intersection of Stephen Dlamini Road and St Thomas Road.

The Musgrave area is one of Durban’s upmarket areas which form the greater Berea region. This node is bound by Botanic Gardens Road to the east; Sydenham Road to the north; Brickfield Road to the west and Berea Road to the south. The property is set close to the N3 National Freeway, which offers direct access to the Durban Central Business District. Hurst Grove is set between Essenwood Road and Musgrave Road
The surrounding area is characterised by retail and office accommodation, whilst upmarket sectional title residential blocks complete this upmarket node. Musgrave is considered one of the most sought after locations within the greater Berea region. The area surrounding the subject property is one of high demand and has good occupancy levels.
Redevelopment is a common sight in these areas. Few properties are changing hands and new construction is required to satisfy demand. The property is well appointed with regard to location and is in close proximity to all necessary amenities such as public transport facilities, schools; institutional centres; entertainment and shopping centres.

Viewing : 01 February 2023
Time : 12pm to 2pm

Residential Type:
Apartment Block
Web Reference:
AUCT-001885
Final price:
POA
Address:
234 Stephen Dlamini (Essenwood) Road, Musgrave, eThekwini Metropolitan Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club
Durban
KwaZulu Natal
Auction Date:
15 February 2023 11:00 am



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

Bidding opens in


Auction Date: 15 February 2023 11:00:00am


Virend Deonarain
                                                         In2assets Representative

Property Agent


Virend Deonarain
Show number
vdeonarain@in2assets.com


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