In2Assets will on November 20 at 11am at the Durban Country Club auction a seven-storey commercial block with 55 apartments and penthouse at 39 Hill Street in the heart of the Pinetown CBD.
The property, which has 3400m² retail space, is opposite Shoprite Checkers in one of busiest streets in Pinetown central, with a mass of vendor stalls and consumers on its doorstep.
National tenants - including banks and supermarkets - occupy buildings surrounding the property to add to the area’s attraction.
Virend Deonarain, who is handling the sale for In2Assets, says that in addition to the retail shops, apartments and basement parking in the block on auction, there is plenty of bulk available on the mezzanine level and the slab roof to add potential for further development of the property, which is serviced by two lifts.
“There are five retail shops with street frontage and 17 in the arcade that runs from Hill Street to Dales Avenue. The largest of the retail shops has a mezzanine level of 800m² and two strong rooms.
The 55 apartments consist of two-bedroomed, one-bedroomed, bachelor and studio units ranging from 30m² to 54m² in size, while the penthouse has two bedrooms.
“The property is currently under renovation, with the vacant shops being repainted for new tenants and the apartments being modernised,” Deonarain states.
For more details, contact him at 0713518138 or 0315747600 or email [email protected].