AUCT-002119 | On Auction

Investment Property With National Tenant

Until Our Next Auction

2023-12-07 11:00:00
Investment Property With National Tenant

Investment Property With National Tenant. 449 Gopalall Hurbans Road, Tongaat

Extent: ± 2 542 m² | Gross Annual Income: ± R1.5 Million | National Tenant with 5-year Lease - Expiring 31/08/2027 - Option to renew | Zoned: General Commercial

oThongathi, KwaZulu-Natal


The property is situated along the Main Road of Tongaat which is known as Gopalall Hurbans Road. The R102 becomes Gopalall Hurbans Road as it passes through the Town of Tongaat. The Town of Tongaat is located approximately 20 kilometres North of Umhlanga and a mere 8 km North of King Shaka International Airport. The property fronts on to Gopalall Hurbans Road, however it can also be accessed via Maharaj Street which runs along the rear of the property.

This frontline property comprises of a Double Storey building with the ground floor being made up of a front retail area, cash office, ablutions, and rear storage area. The First floor is currently being utilised as a retail premises and comprises a large retail area with ablution facilities and a large office. Further improvements to the property include a fully tarred parking area which caters for ± 22 parking bays and 3 loading bays.

The majority of the ground floor is currently occupied by a national tenant at a rental of ± R 87 000.00 per month and the entire first floor as well as the storage area on the ground floor is occupied by build it at a rental income of ± R 40 000.00 per month. The property is currently fully tenanted and generates a gross annual income of ± R1 500 000.00. The National tenant has a 5-year lease in place expiring on 31/08/2027. the tenant also has an option to renew.

The surrounding area is made up of mostly commercial properties as well as existing blocks of flats, sectional title complexes and free-standing dwellings. The property is situated in close proximity to schools, places of worship as well as Victoria Medical Hospital. The property enjoys exposure to high levels of vehicular and pedestrian traffic.
Commercial Type:
Retail Space
Web Reference:
AUCT-002119
List price:
POA
Address:
449 Gopalall Hurbans Road, oThongathi, eThekwini Metropolitan Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club

Auction Date:
07 December 2023 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R50 000 refundable registration deposit. Strictly by EFT. No Cash. FICA Documents are required.

Related Documents

Loading related documents...

Property Agent
Muhammad Ali
                                        In2assets Representative

Muhammad Ali

Show number

alim@in2assets.com

Fill in the below enquiry form &
We will get back to you shortly.
WhatsApp