In2Assets will on December 6 auction a prominent N2-facing retail complex at Umhlanga.
The property on offer at the Durban Country Club in Isaiah Ntshangase Road in Durban at 11am is Section 1 to 4 of the 31 Solstice complex, located at 31 Solstice Road. The sizes of the four sections vary from 260m² to 300m² with strong blue chip tenants, such as Belgotex Flooring, Homewood Luxury Craft and Fit for Bed, as tenants providing an annual rental income of about R2 million.
Each of the four units in the complex comprises a mezzanine level, kitchen, ablutions, large windows, and air conditioning. One unit has a wooden deck for exclusive use.
Luke Hearn, who is handling the sale for In2Assets, says the property has exceptional visibility both from the N2 Highway and new R1.1 billion four-level Umhlanga Interchange, a vital artery in the eThekwini Metropolitan road network. “The complex is just a short drive from Umhlanga Rocks Drive and easily accessible from the M4 Highway to the east, and the N2 on the west. The M41 road which leads to the N2 is also close by.”
It is in the Umhlanga New Town Centre, a prime, high density urban mixed-use precinct where few sites are still available. The surrounding precinct is a bustling business environment, 15 minutes north of the Durban CBD and harbour.
“The Umhlanga Ridge zone is considered one of South Africa’s fastest growing urban nodes, and New Town Centre has a combination of residential, commercial offices and retail developments.” The area already houses many of South Africa’s leading business brands, including Genkem, Patio Warehouse, Bidtrack, Talisman Hire and Honda, among others.
Solstice Avenue is a link road between Twilight Drive and Millennium Boulevard, and very close to the popular Gateway Shopping Centre. King Shaka International Airport and Dube Trade Port are 20 minutes’ drive to the north.
For more information and viewing arrangements, phone Hearn on 071 351 8138 or 031 574 7600 or email [email protected].