AUCT-001943 | On Auction

Accommodation Block In Durban CBD With Lease In Place

Until Our Next Auction
18 May 2023 | 11:00:00 am

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    2023-05-18 11:00:00
    Accommodation Block In Durban CBD With Lease In Place

    PORTFOLIO DISPOSAL: Accommodation Block In Durban CBD With Lease In Place, Emerald Heights, 18 Ismail C Meer (Lorne) Street, Durban CBD

    4 Storey Building | 100 Rooms with 189 individuals | 4 x Ground floor retail shops | DUT Lease in Place – Expiring November 2024 | Gross Monthly Income: Accommodation: ± R662K & Retail: ± R47.7K | Communal Fitted Kitchens & Bathrooms, Automated lighting, CCTV Cameras, Biometric Access System.

    Durban Central, KwaZulu-Natal


    This 4 storey accommodation block, with a DUT lease in place comprises of 100 rooms that currently accommodates 189 individuals. The accommodation facility is supported by communal bathrooms, kitchens, study rooms and TV rooms. The property further comprises of ground floor retail shops that are occupied by tenants for a number of years.

    This very-well positioned property is situated towards Greyville Race Course precinct, close to various tertiary institutions.

    Ismail C Meer Street links to Ingcuce (Albert) Street which gives immediate access to Umgeni Road. The property is enjoys high vehicular and pedestrian exposure.

    The neighbourhood within the immediate vicinity of the property comprises mostly of service industrial, multi-level warehousing, residential block of flats, hotels, retail space and is the vehicle sales hub of the CBD. The property is also close to various tertiary institutions, the Hilton Hotel, the Kingsmead Cricket grounds and the Kingsmead Office Park.

    The Victoria Embankment and the Durban Harbour are easily accessible; as well as the M4 and N3 Freeways.
    This node has enjoyed improved cleanliness and upgraded security which have stimulated new investment by injected capital into urban regeneration projects in the area.
    Commercial Type:
    Block of Flats
    Web Reference:
    AUCT-001943
    List price:
    POA
    Address:
    18 Ismail C Meer (Lorne) Street, Durban Central, eThekwini Metropolitan Municipality, KwaZulu-Natal
    Auction Venue:
    Mount Edgecombe Country Club
    Mount Edgecombe
    KwaZulu Natal
    Auction Date:
    18 May 2023 11:00 am



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

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