In2Assets will call for bids for three blocks of flats in Pinetown, as well as 3 600m² of development land, on March 13 at 11am at the Durban Country club. Viewing the potentially lucrative property at 1 and 3 Morgan Road – which covers over 8 000m² in total – is on Tuesday between 2pm and 3pm.
Carl Kleinhans, who is handling the property sale for In2Assets, says there are 42 flats in the three blocks on site. Two of the buildings have 18 two-bedroom flats each while the third smaller block has six two-bedroom units. “Each flat comprises open-plan dining room and lounge; two bedrooms; kitchen and bathroom with separate toilet. Other improvements to the property include an outbuilding consisting of staff quarters and storeroom.”
He says the “well maintained” residential complex, with its own parking, is positioned in the heart of the Pinetown CBD next to the Crompton Hospital. “The property would be ideal for student accommodation as it is close to tertiary institutions. It has been estimated that a total of around 250 students could be accommodated in the flats. Cumulatively, that will produce very sound rental revenue.”
Apart from tertiary campuses and schools, the property is also close to the St John’s Checkers Centre, Pine Crest shopping complex, Pinetown CBD and taxi ranks.
It is easily accessed from freeways such as the M7, M13, and M19. For viewing arrangements, as well as more information about the property, contact Carl Kleinhans at 082 467 5664 or 031 574 7600 or email ckleinhans@ in2assets.com.