This iconic and prominent property offers a diverse range of opportunities, featuring a combination of basement parking with store rooms, ground floor retail spaces with mezzanine level and upper floor student accommodation. With its high exposure, strategic location, this property presents an enticing prospect for investors and end users/developers. Not often does a property of this magnitude within the heart of the Pinetown CBD comes onto the market. The upside allocated to the property is the potential to further develop 40 more apartments which can possibly accommodate 200 beds on available bulk of ± 9 685 m².
Student Accommodation

The accommodation component of this property comprises of 55 apartments which have been reconfigured for student accommodation. Access can be obtained from the basement as well as from the ground floor. There is a Durban University of Technology (DUT) lease in place which caters for 231 students. The property meets the requirements of this tertiary institution with regards to safety, appropriate facilities such as TV Room and Laundry area and the amenities within each room.

The neat apartments comprise of a kitchenette with built in cupboards and granite tops and a bathroom (shower/tub, basin & toilet). Each room is fitted with built in cupboards, chairs, desks and beds whilst the kitchens consist of fridges, stoves and microwaves.

Each floor in total can accommodate 37 students with individual rooms sleeping 4 to 6 students. The current configuration per floor is as follows:

1 x 1 room flat accommodating 3 students each (3 students)
3 x 2 room flats accommodating 4 students each (12 students)
2 x 3 room flats accommodating 5 students each (10 students)
2 x 3 room flats accommodating 6 students each (12 students)

At split level of each floor there are a further 7 apartments that are bachelor units.
The property comprises of a seven-storey commercial block with a penthouse level and basement parking, positioned in the heart of the Pinetown CBD, in close proximity to Boxer and SPAR. Hill Street is one of the busiest streets within Pinetown CBD carrying a mass market of consumers and vendor stall owners. National tenants (various banks and supermarket chains) occupy buildings surrounding the property making this specific node a sought-after area.

The property is subject to a road servitude as per the Title Deed.

The property is serviced by two lifts, with a contract in place with Schindler. Fire escapes and all firefighting systems such as fire hoses and extinguishers are in place. The property has ducted air-conditioning throughout all of the levels however there are some offices that have split unit air-cons which belong to the tenants and are specifically excluded from the sale of the property. There are CCTV cameras in place which will form part of the sale of the property.

Basement Parking
The secure basement parking area is accessed via Dales Avenue through manned security. It comprises of 46 parking bays, storage rooms and a large open plan area used as an entertainment/TV room & Laundry Room for the Student Accommodation facility. Sprinkler systems are in place. Basement level also houses the JOJO tank and pump.

Ground Floor Retail Shops
There are 6 (4 to Hill Street and 2 to Dales Avenue) retail shops that have street frontages and approximately 13 shops that are positioned within the arcade that runs from Hill Street to Dales Avenue. Occupied retail shops have been designed to reflect the tenant’s organizations approach which integrates with the needs of their clients. It should be noted that all movable assets within the tenanted premises belong to the tenants and are specifically excluded from the sale of the property. These ground floor retail spaces enjoy high visibility and foot traffic, making them ideal for businesses seeking maximum exposure.

Mezzanine Level
There is a mezzanine level of approximately 858 m², with 2 strong rooms. This mezzanine level has potential for conversion into further apartments.

7th Floor Penthouse Level
Currently the penthouse level has be reconfigured to form 6 units which accommodates 8 people. There is a communal bathroom on this level however there is further potential to develop 6 more units for an additional 12 more people.

This property is positioned within the heart of the Pinetown CBD, bound by Hill Street, Dales Avenue, Crompton Street and Moodie Street. Vehicular access is obtained from Dales Avenue and pedestrian access from both Hill Street and Dales Avenue. The property is easily accessed from surrounding freeways such as the M7, M13 and the M19.

The immediate area and surrounding properties consist of high-rise buildings comprising retail on the ground floor and residential flats and offices on the upper floors.

This location is exposed to the mass market due to the proximity to various public transport networks. The property lies in close proximity to the St Johns Centre, the Pine Crest Shopping Centre, Knowles SPAR and the Crompton Hospital. Various government departments such as the Pinetown Magistrates Court, Department of Home Affairs, Department of Labour, Department of Education, SARS and the Pinetown Civic Centre are positioned within walking distance from the property.

The property’s main use is student accommodation due to the perfect position, close to tertiary institutions. Apart from the UKZN Pinetown University, there are approximately 15 other tertiary institutes positioned within close proximity such as Richfield College, Boston City College, Elangeni College, College SA and ETA College to name a few as well as others within a 10km radius. With the properties potential development, Residential units are in strong demand in this area as tenants are within close proximity to Westmead Industrial Park and New Germany Industrial Node. There are several schools within the highway area which makes this position ideal for families.