AUCT-002372 | On Auction

13 Storey Commercial Block In Durban CBD

328 Anton Lembede (Smith) Street, Durban Central, eThekwini Metropolitan Municipality, KwaZulu-Natal

13 Storey Commercial Block In Durban CBD. 328 Anton Lembede (Smith) Street, Durban CBD

GBA: ± 4 800 m² | Currently 128 Apartments (Studio, 1 & 2 bedrooms) | Total Monthly Income: ± R648K | Potential to accommodate 243 students | State-of-the-art Fire Detection System | Biometric access system | New elevators


Introducing an iconic 13-storey commercial block located in the bustling heart of Durban's CBD. This prime property comprises 128 modern apartments, a mix of studio, 1-bedroom, and 2-bedroom units. The ground floor boasts retail shops, offering convenience and high visibility to passing foot traffic. The building is equipped with cutting-edge safety features, including a state-of-the-art fire detection system and biometric access, ensuring top-tier security for all tenants. With municipal approval to accommodate 243 students, this property is an ideal asset for tapping into Durban's thriving student population.

Features:
• 13-storey commercial block
• 128 apartments (studio, 1-bedroom, 2-bedroom)
• Ground floor retail shops
• Potential to accommodate 243 students (municipal approval required)
• State-of-the-art fire detection system
• Biometric access for enhanced security

Location:
Situated in the heart of Durban's Central Business District, this property benefits from its strategic position in one of South Africa’s most vibrant and fast-paced urban areas. The location offers unparalleled access to key city attractions, business hubs, and recreational areas, providing residents and retailers with a dynamic urban lifestyle.

Surrounding Description:
The building is surrounded by an array of amenities, including leading tertiary institutions, corporate offices, shopping centers, and entertainment facilities. The proximity to these key institutions makes it a magnet for student accommodation, while the nearby retail outlets, restaurants, and transport hubs ensure that the area is always buzzing with activity.

Accessibility:
Easily accessible via major arterial routes, the property benefits from its proximity to the N3 and M4 highways, as well as Durban's public transportation network. Residents, shoppers, and students enjoy seamless access to bus stops, taxi ranks, and train stations, making commuting effortless.

Potential Uses:
This fully tenanted mix use block provides fantastic income in its current form. Demand for quality rental accommodation is at an all-time high. The student accommodation opportunity provides an even more lucrative income stream, while the mixed-use setup allows for a blend of residential & retail. With its prime location, the property is also ideal for investors looking to expand into short-term rental markets or convert the units for luxury urban living.

Branding Exposure:The property’s position in the heart of the CBD offers excellent branding exposure, with high foot traffic and visibility. Retail tenants benefit from the constant stream of shoppers and professionals in the area, while the building itself can serve as a landmark for any company or brand looking to make a statement in Durban’s skyline.

Commercial Type:
Commercial Building
Web Reference:
AUCT-002372
List price:
POA
Address:
328 Anton Lembede (Smith) Street, Durban Central, eThekwini Metropolitan Municipality, KwaZulu-Natal
Auction Venue:
Mount Edgecombe Country Club

Auction Date:
21 November 2024 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 21 November 2024 11:00:00am


Virend Deonarain
                                                         In2assets Representative

Property Agent


Virend Deonarain
Show number
vdeonarain@in2assets.com


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