Extent Section 6: ± 289 m² | Extent Section 7: ± 249 m² | ± 22 Exclusive Use Parkings | Fully Tenanted | Total Gross Monthly Income: ± R 121K
These 2 upmarket sectional title offices are situated within the prominent building known as Morningside Chambers located at 510 Lillian Ngoyi (Windermere) Road. The properties are situated within the suburb of Windermere which lies south of the suburb of Morningside. Windermere is positioned West of Umgeni Road and North of Stamford Hill Road which is regarded as Durban's sports hub. Many properties in the area have been upgraded and converted into office premises. Lilian Ngoyi Road is one of the main roads that runs through the suburbs of Windermere. It is a built-up area, with numerous sectional title complexes and historic residential dwellings in the immediate vicinity as well as a number of commercial uses.
Section 6 occupies the entire 5th floor of the building and has an extent of 289 m² while Section 7 is 249 m² in extent but enjoys 3 Exclusive use balconies which total 40 m². Section 7 also occupies the entire 6th floor. The Units enjoy a total of 22 Parking bays of which 9 are under cover.
Both units are currently tenanted. Section 6 generates a gross monthly income of R 50 245.00 per month while Section 7 generates a gross monthly income of ± 60 500.00 per month.
The neighbourhood is home to many businesses operating from converted dwellings. There is a substantial residential community that enjoys a close proximity to Florida, Stamfordhill as well as to Lilian Ngoyi Road's cosmopolitan atmosphere. It is considered an upmarket suburb. It is a sought-after location for mixed use activities. Various restaurants and cafes are within walking distance, including the Windermere Shopping Centre. Small commercial nodes are established at major intersections which are mostly geared towards retail accommodation, offices and restaurants.
The property is easily accessed via many of the main arterial roads from the greater Berea, Sydenham and Umgeni region. The property enjoys easy access to the Central Business District of Durban, Musgrave Centre and Clifton Preparatory School are nearby.