Among the lots for In2Assets’ major multi-property auction on Tuesday at 11am, at Durban Country Club, is an industrial/retail tenanted complex in Parkhill, which is about 15km from the Durban CBD.
Virend Deonarain of In2Assets says the property, with a gross lettable area of more than 2600m², is at 584 Chris Hani (North Coast) Road on the corner of Lothian Road, with strong exposure to Chris Hani Road and access from both streets, as well as vehicular access from Tramway Road at the rear.
Currently used as a warehouse with a separate double-vaolume factory, executive offices, showroom and retail facilities, it has five tenants producing an annual rental income of about R1.2million. The warehouse links to the upper floor showroom and executive offices. On the third floor is an office that opens out on to a concrete-slab rooftop. A separate double-volume factory building has a workshop and store rooms on ground level and a factory upstairs.
There is ample on-site parking available (24 bays) and a yard area for large vehicles. The property is securely fenced and there is roller-shutter door protection for the retail shops.
Deonarain says: “The area is bounded by the residential area of Durban North to the east, Redhill and Parkhill to the north, and Briardene Industrial Park to the west.
“The Metro Rail line runs parallel to Chris Hani Road which has a mix of general industrial type buildings and a few interspersed office blocks and retail premises.
“This node mainly has established tenants or owner-occupiers with residential areas on either side. It is within walking distance of Greenwood Park Primary School, Parkhill High, Park-hill police station, Redhill fire station and the Parkhill Medical Centre.
“The property is also close to other popular industrial nodes, such as Riverhorse Valley Business Park, Briardene Industrial Park, Umgeni Business Park and Redhill Industrial Park.”
For more details, call Deonarain at 0713831735 or 0315747600 or email firstname.lastname@example.org.