AUCT-002091 | On Auction

Landmark Retail Property on Florida Road

279 Florida Road, Morningside, eThekwini Metropolitan Municipality, KwaZulu-Natal

Landmark Retail Property. 279 Florida Road, Morningside, Durban

Extent: ± 1 358 m² | GLA: ± 712 m² | Current Gross Monthly Income: ± R138K | Lease Expires: 30th November 2023 | End-user opportunity | Corner property

This prime retail property is located on the sought-after and trendy Florida Road in Morningside, Durban. The property is situated at 279 Florida Road which lies at the corner of Florida Road and Holden Road, Florida Road is a destination location which boasts a strip covering more than 2km of restaurants, pubs, nightclubs, art galleries, and eclectic shops like tobacconists, tattoo parlours and retail spaces. Morningside is an upmarket node in a mixed-use area comprising of residential and commercial property. The property is easily accessed from Sandile Thusi (Argyle) Road which extends east to provide access to the Northern (M4) Freeway. Peter Mokaba (Ridge) Road provides quick access to the N3 and N2 National Freeways.

This corner property comprises of 2 Erven offering a total extent of 1 348 m². The property offers a rare opportunity to purchase frontline retail premises on Florida Road.

The property has a total rentable area of ± 712 m². The main building comprises of an open ground floor trading area with a deli kitchen and an open plan administration office on the first floor. Further improvements to the property include a bakery, storage area and staff ablutions / change rooms which are located at the rear of the property .

The property is currently tenanted and generates a gross monthly income of ± R 138 000.00 per month. However, the current tenants lease expires as at the 30th of November 2023 thus allowing for an ideal end user opportunity.

The majority of amenities are located in Florida Road, as well as the surrounding roads such as Windermere, Stamford Hill and Umgeni Roads. Shopping Centres in close proximity include Windermere Shopping Centre, Musgrave Shopping Centre and Overport City. Morningside is the closest residential suburb to the Moses Mabhida Stadium.

Florida Road has enjoyed large scale development and rejuvenation since 2013 as a result of the efforts of local property owners, businesses and community groups, who banded together to form the Florida Road Urban Improvement Precinct (UIP) which includes high visibility of security. Florida Road’s conversion to a contemporary mixed-use landscape has earned a reputation as one of the City’s trendiest, most popular streets, where people gather to eat, drink, shop, meet and enjoy all the precinct has to offer with its selective mix of commercial tenants.

Good government and private schools are within walking distance and include Gordon Road Girls School, Durban Preparatory High School as well as Clifton College and Curro Heritage House.

Commercial Type:
Retail Space
Web Reference:
List price:
279 Florida Road, Morningside, eThekwini Metropolitan Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club

Auction Date:
26 October 2023 11:00 am

Andrew Miller
Auction Terms and Conditions:
R50 000 refundable registration deposit. Strictly by EFT. FICA Documents are required

Bidding opens in

Auction Date: 26 October 2023 11:00:00am

Muhammad Ali
                                                         In2assets Representative

Property Agent

Muhammad Ali
Show number

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