The property occupies a large corner site, enjoying double street frontage onto Gillespie Street and Rochester Street. It is located at the south-eastern periphery of Durban’s Central Business District, set in the suburb known as South Beach. The property is centrally located to public transportation facilities and most desired amenities.

South Beach lies to the south of central Durban, midway between North Beach and Ushaka Marine World, close to Addington Hospital and Durban’s trendy Point area – now a revived development of waterways, upmarket apartments, shops and office space.

Located close to the beach, amongst retail shops, shopping centres and within the CBD, this property is ideal for a student accommodation conversion for approximately 220 students; conversion into sectional title or as a freehold multi -tenanted investment.

There is a tarred parking area with 59 open parking bays, secured by concrete palisade fencing.

The reception area is accessed by a controlled security gate which opens towards the central staircase and the two elevators that service the 16 storey building.

The property is set on a level site and comprises of a freestanding building with 86 bachelor flats spread across the 15 floors and a ground floor retail space.

The ground floor retail space comprises of an open restaurant and bar area, as well as ablutions. We did not obtain access to the ground floor retail space. Floors 1 to 14 comprises six separate bachelor flats. On each floor, three units are sea facing (measuring 40m²) and three units facing the CBD (measuring 33m²). The flats comprise of a kitchen, bathroom (tub, basin and toilet) and a room. Each floor is similar in design and layout with access to either “wing” of the building is through a common and central passageway which provides access to each unit. The 15th floor comprises 2 bachelor flats.

Each floor has its own bin room.

The property falls within the Durban Central precinct, as per eThekweni’s new Urban Development Zone (UDZ). This is one 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 developments or building restorations. Efforts to clean up the city and improve security through urban improvement have generated optimism.

The neighbourhood within the immediate vicinity of the property is characterised by mostly retail space on the ground floor and flats on the upper floor levels. Some of the larger developments in the immediate vicinity include the Holiday Inn South Beach (Garden Court), the Tropicana Hotel, The Durban Spa and the Wheel.