AUCT-001500 | On Auction

Block of 14 Flats & Retail Shop Close to Tertiary Institutions

199 King Dinuzulu (Berea) Road, Durban, KwaZulu Natal

Block of 14 Flats & Retail Shop Close to Tertiary Institutions. 199 King Dinuzulu (Berea) Road, Durban

14 Apartments & 1 Retail | Gross Annual Income: ± R760K | Close to various shopping centres, tertiary institutions and on commuter routes | 4 X Small bachelor apartments | 4 x Large Bachelor Apartments | 3 x One Bedroom Apartments | 3 x Two Bedroom Apartments



Over the past number of years, this specific block of flats has been renovated, refurbished and maintained well to keep its standards high and as such this is a rare opportunity for one to acquire a clean block of flats in this specific node. Currently the block is used for residential purposes and not student accommodation, however the potential for student accommodation is perfect due to the locality.

This property comprises of a 4-storey block with 14 flats, a retail shop, 2 store rooms, on site secure parking and some yard area. The block is serviced with 2 stairways. The parking area can accommodate 4 motor vehicles easily and is secured with a wall with barb wire fencing. The retail shop is accessed directly off King Dinuzulu (Berea) Road and comprises of the shop with a basement storage area. It should be noted that all movable items and stock within the shop are specifically excluded from the sale of the property.
The ground floor of the block of flats comprises 2 flats and floors 1 to 3 each comprises of 4 flats. Each flat consists of a bathroom (shower, basin & toilet) and a kitchen/kitchenette. All of the flats have their own geysers, prepaid electricity meters and separate water meters for each flat. The configuration of the block of flats is as follows:

The configuration of the block of flats is as follows:
Ground floor: 1 x small bachelor & 1 x large bachelor
First Floor: 1 x 2-bedroom flat; 1 x 1 bedroom flat, 1 x small bachelor & 1 x large bachelor
Second Floor: 1 x 2-bedroom flat; 1 x 1 bedroom flat, 1 x small bachelor & 1 x large bachelor
Third Floor: 1 x 2-bedroom flat; 1 x 1 bedroom flat, 1 x small bachelor & 1 x large bachelor
Summary: 3 x 2 bedrooms flats; 3 x 1-bedroom flats; 4 x small bachelor flats & 4 x large bachelor flats
The property had a new roof constructed and installed in 2014. During the course of the renovations and refurbishments, all of the necessary approvals and investigations were conducted which include the Geotechnical Reports/Investigations, Roof/Trusses Reports and Structural Engineers investigations.
The property is located at 199 King Dinuzulu (Berea) Road, within three kilometers of the Durban Central Business District. It is bound by suburbs such as Bulwer, Berea, Greyville and the CBD. The property is positioned approximately 350m away from the one of the busiest intersections in the Berea node, being the intersection of Botanic Gardens Road and King Dinuzulu (Berea) Road.

The area has at present, mix uses of residential, commercial and business properties. The property is surrounded by similar type properties, with ground floor shops and residential apartments on the upper floors. The Berea Centre, Musgrave Centre and Davenport Shopping Centres are within walking distance from the property. Various tertiary institutions (from independent and specialized to higher education) such as DUT and ML Sultan are positioned in close proximity to the property. There are various popular food outlets, sidewalk cafes, coffee shops and recognized restaurants within the immediate area. This property is exposed to high levels of vehicular and pedestrian traffic.

The property is positioned approximately 1.5km from the N3 Freeway on ramp. Pedestrian access is obtained directly off King Dinuzulu (Berea) Road and vehicular access off lane known as Florence Avenue. King Dinuzulu (Berea) Road is a commuter transport route. The area is fully serviced and all modern amenities are found in the area.

Residential Type:
Apartment Block
Web Reference:
AUCT-001500
List price:
POA
Address:
199 King Dinuzulu (Berea) Road, Durban, KwaZulu Natal
Auction Venue:
Mount Edgecombe Country Club
Mount Edgecombe
Durban
KwaZulu Natal
Auction Date:
19 August 2021 11:00 am



Auctioneer:
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 19 August 2021 11:00:00am


Virend Deonarain
                                                         In2assets Representative

Property Agent


Virend Deonarain
Show number
vdeonarain@in2assets.com


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