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Prime Durban CBD property on offer

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Blue Chip property in a strategic trading position at 424 Dr Pixley KaSeme Street (formerly West Street), one of the CBD’s busiest shopping areas.

At 11am on March 6 Alliance Property Group is scheduled to call for bids for a prime Durban CBD property which has major food retailer, Shoprite Checkers, as the anchor tenant.

The Blue Chip property is in a strategic trading position at 424 Dr Pixley KaSeme Street (formerly West Street), one of the CBD’s busiest shopping areas. It has heavy pedestrian traffic along Dr Pixley KaSeme Street in front and Monty Naicker Road (Pine Street) at the rear.

The property is currently used primarily as a Shoprite supermarket with 29 till points to cater for the high volume of customers.

In addition, there are several line shops taking advantage of the busy Dr Pixley KaSeme Street frontage, including national traders such as a Shoprite liquor store, Ackermans, Pep Cell, Cell C, and Hungry Lion Food.

There is also a second Hungry Lion Food store at the rear of the property.

Included in the property is a 2000kg goods hoist operated by Shoprite as well as staff facilities that include change rooms, toilets, and a canteen.

The total gross lettable area of the premises (GLA) is over 7600m².

Shoprite Checkers holds a triple net head lease until 2023 plus two further five-year extension options. In terms of the lease conditions, operating expenses such as municipal rates, insurance, and maintenance costs are for the tenant’s account.

The auction will be at Durban’s Hilton Hotel.

For more details ring John Lomas on 083 250 2713 or 031 312 7625 or email him at johnlomas@iafrica.com or visit www.dbn-retailpropertyauction.co.za.

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