Prime Investment Opportunity in Durban CBD – Triple and Double Storey Mixed-Use Property in Albert Park
Located in the Durban CBD, within the vibrant Albert Park precinct, lies an exceptional investment opportunity comprising two buildings — a triple storey building facing Maud Mfusi (formerly St George’s Street) and a double storey building facing McArthur Street. Together, these well-maintained structures present a compelling proposition for investors, developers, or institutions seeking to capitalise on Durban’s ever-growing demand for centrally located residential and commercial space.
Property Features
Spanning across two street frontages, the combined buildings offer a total of 29 rooms situated across the upper floors, all serviced by communal kitchens and bathrooms, making the layout ideal for student accommodation, boarding house, or budget rental options. The ground floor level is home to 5 street-facing retail shops. The property is currently achieving a total monthly income in excess of R90,000 excluding prepaid water and electricity recoveries (IKWEZI), with further potential for growth through reconfiguration, upgrade, or repositioning.
Both buildings are in fair yet solid condition, reflecting careful maintenance over the years and offering a structurally sound canvas for future redevelopment or refurbishment. The positioning of the sites, coupled with dual street access, enhances visibility, tenant convenience, and commercial viability.
Location and Surrounding Area
Strategically situated in the well-known Albert Park area, this property benefits from its proximity to the Durban CBD, the Harbour, public transport routes, and key arterial roads such as Russell Street, Alice Street, and Smith Street (Anton Lembede Street). The precinct is a bustling hub, home to a growing number of tertiary institutions, including Durban University of Technology (DUT), and various FET colleges – all of which contribute to the area’s high student demand.
Albert Park itself is a historic and evolving precinct, with a mix of residential, institutional, and commercial activities. The property is surrounded by student residences, religious institutions, retail outlets, and a network of transport links including bus, taxi all within walking distance.
Accessibility
Easily accessible via Maud Mfusi Street and McArthur Street, the property enjoys seamless access for both residents and commercial patrons. Being centrally located, it also allows for direct connections to major city landmarks, government offices, shopping centres, and academic campuses.
Potential Uses and Investment Appeal
With municipal approvals and consents in place, this site offers incredible flexibility for student accommodation, communal living quarters, hostel-type operations, or conversion into self-contained micro-apartments. Given the consistent rental demand in the area and the property’s layout, it is a perfect fit for investors seeking a high-yielding money-spinner or cash cow asset in a burgeoning rental node.
Whether retained in its current form or repositioned for modern student or budget accommodation, this asset presents a robust income-generating opportunity, supported by location, accessibility, and demand fundamentals.
