Among the properties on offer at In2Assets’ major auction at the Durban Country Club on June 19 at 11am are two KwaDukuza (Stanger) CBD retail buildings with substantial investment value, say the auctioneers.
On offer will be:
* Prominent multi-tenanted retail building at 104 King Shaka (Couper) Street. With lettable floor space of over 3000m², the potential gross annual income from national tenants is about R3.8million. The building has been home to well-known tenants such as Markham’s, American Swiss, Edgars and Jet Stores and has also accommodated The Horse Shoe Ranch licensed tavern for many years.
The retail sections of the property are on the ground floor with high levels of passing pedestrian and vehicular traffic.
All sections of the property have ducted air conditioning, dedicated ablutions and kitchen facilities.
* Retail building at 118 King Shaka (Couper) Street. The building - well known to the local community after being home to the Standard Bank for many years - is in the middle of Stanger’s central business district, in a busy area.
The two-storey, stand-alone property has secure off-street parking and can be reconfigured to any buyer/tenant requirements, says Luke Hearn, who is handling the sale for In2Assets.
“Good signage and exposure opportunities add to the appeal of the building,” Hearn adds.
The 2000m² property - with roller door and goods hoist installed - is surrounded by national brands’ premises.
Stanger, as it was named after an early surveyor-general, is now again officially known as KwaDukuza - the name its founder King Shaka gave it in the early 19th century.
KwaDukuza in English means “place of the lost person” - no doubt inspired by the difficulty of finding people the Zulus were looking for amid the town’s labyrinth of dwellings around 1820. Many people of Indian descent subsequently also settled in the town.
“KwaDukuza - at the heart of a strong sugar production region - has grown substantially in the past few years and is now an area savvy investors are increasingly looking at,” says Hearn.
For more details, contact him at 071 351 8138 or 0861 444 769 or visit www.in2assets.com.