The 2 attached properties, being 27 and 31 Joe Slovo (Field) Street, presents the market with a rare opportunity, a lucrative re-development opportunity within the heart of the Durban CBD. Rarely does a property of this magnitude and of this nature within the heart of the Durban CBD come onto the market. The permitted zoning uses that the property offers ranges from offices, residential flats, retail shop, hotel, educational establishments and boarding house to name a few. Student Accommodation Residence will require Special Consent from the Municipality.

The properties are structures that are in need of significant maintenance or repair due to vandalism over the past couple of years. As such, these 2 high rise buildings paves the way for re-development.

It should be noted that the Seller is in possession of architectural plans for both properties for residential accommodation purposes. Over the combined 22 floors of the properties, plans are drawn up for 116 en-suite apartments, a 120 m² retail component, roof top entertainment area and other facilities. Plans are merely architectural drawings and unapproved.

The property positioned at 27 Joe Slovo (Field) Street, Durban Central consists of 10 storeys, inclusive of the ground floor retail component and the roof top with improvements. The ground floor comprises of the existing transformer room, strong room and a passage that links to the rear street, being Parry Road. Floors 1,2 & 3 are similar in layout, floors 4 to 7 similar in layout and the 8th floor with part open roof top.

The property at 31 Joe Slovo (Field) Street, Durban Central consists of 12 storeys, inclusive of the ground floor retail component and the roof top with improvements. Each floor within this property is of similar layout.

It should be noted that the property is sold as redevelopment opportunity with only the structure in place. All costs pertaining to re-instating the properties for occupation will be solely for the Purchasers account. This entails, engineers reports, approval of plans, electrical, plumbing, flooring, painting, roof leaks, installation of lifts, installation of windows & doors to name a few.

As per the Title Deed Portion 4 OF Erf 10671 Durban, Portion 6 of Erf 10671 Durban and Portion 9 of Erf 10671 Durban are subject to a party wall servitude.
This properties are positioned mid-way of two busiest intersections within the Durban CBD. Located at 27 -31 Joe Slovo (Field) Street, the property is situated approximately 100m from the Anton Lembede (Smith) Street and Joe Slovo (Field) Street intersection and a mere ± 70 m from the Margaret Mncadi (Victoria Embankment) Road and Joe Slovo (Field) Street intersection. Field Street is a busy arterial road which is exposed to high levels of vehicle and pedestrian traffic. The property at 27 Joe Slovo (Field) Street also fronts onto Parry Road which it obtains access from as well.
The property is positioned amongst other popular high-rise buildings in the Durban CBD such as Kingsfield Place, Zumaysha House, New National Insurance, Mansion House, Quadrant House and Grindrod Building.

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 eThekweni city, through tax saving incentives applicable to new development or building restoration.

The neighborhood within the immediate vicinity of the property comprises only retail space on the ground floor and offices and flats on the upper floor levels.