Several prime properties in KZN will be auctioned in a major multi-property auction by In2Assets at the Durban Country Club on April 17 at 11am.
With demand for Durban CBD property increasing, two lots will almost certainly keep bidders busy. They are at 9 Dorothy Nyembe (formerly Gardiner) Street, and 476 Dr Pixley Kaseme (formerly West) Street.
The seven-storey upmarket, modern office building in Dorothy Nyembe Street annually produces rental income of almost R8million. The block has 66 secured parking bays, a back-up power generator, and is within walking distance of several colleges and Further Education and Training centres. Victoria Embankment, Durban Harbour, and the M4 and N3 freeways are all easily accessible.
The other CBD property on auction is in a “prime trading position” in Dr Pixley Kaseme Street and has a gross lettable area of 626m². The vacant building adjacent to the West Street Mosque will be sold with butchery and supermarket movable assets. The area around the property comprises mostly retail space on street level with offices and flats on upper levels.
Some accommodation has been upgraded while general landscaping and improved cleanliness and security have generated optimism in the area.
Both CBD properties will benefit from the eThekwini’s new Urban Development Zone (UDZ) programme which aims to stimulate investment and urban regeneration in the central parts of the city through tax-saving incentives for new developments or building restorations.
Among the other properties on offer at the In2Assets auction will be:
* 4.3ha of industrial development land in Hammarsdale with 17 sub-divisions awaiting approval.
* N3 development property in Lynnfield Park. The 27.3ha site has received approval for retail, hotel and eco-tourism facilities.
* Property of over 1000m² in the popular industrial node of Jacobs (warehouse and factory).
* Retail property at The Bluff with fuel station zoning approved.
* “High Street” retail investment opportunity in Pine Street, Greytown. The gross annual income exceeds R1m and the tenants include Sanlam and Ackermans.
There will also be residential properties on auction including a corporate retreat or wedding venue at Backworth Farm, Eston; a five-bedroom villa in Zimbali estate; a three-bedroom house in Morningside and a sprawling six-bedroom residence in Ramsgate with spectacular sea views.
For more details about all the properties on auction, phone 0861 444 769, email [email protected] or visit www.in2assets.com.