6 Storey building | GBA: Ground Floor: ± 410 m² & Floors 1 to 5: ± 2 260 m² | Sold vacant occupation | Upper floors offices with residential conversion potential (Municipal Approval Required) | High exposure
This 6 Storey commercial property is commonly known as the New National Building. It is positioned close to the corner of Joe Slovo (Field) Street and Margaret Mncadi (Victoria Embankment) Road, within the Durban CBD. It comprises of ground reception or lobby are, the lift areas and 3 partitioned areas which can be used as one huge retail shop. The property is serviced by 2 lifts, has biometric access system control and meets all fire detection regulations.
The upper floors comprises of offices, most of which are drywall partitioned however there are some that have concrete wall partitions and as such the property has potential for residential conversion due to it being sold with vacant occupation.
The property falls within the Durban Central precinct, as per eThekwini’s new Urban Development Zone (UDZ). This is one of 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 eThekwini city, through tax saving incentives applicable to new development or building restoration.
The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and offices and flats on the upper floor levels. Some accommodation has been upgraded, whilst general landscaping and improved cleanliness and security have stimulated new investment in the area.
The Durban Harbour is easily accessible as well as the N3 Freeway. The property is well serviced in terms of necessary amenities including emergency, medical, educational services and transport facilities.
Virend Deonarain
Show number
vdeonarain@in2assets.com
