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Property in Pinetown seen as prime investment

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Well-maintained, with a mix of long-standing tenants and excellent exposure

In2Assets will on February 18 at 11am at the Durban Country Club auction a multi-tenanted investment property at 8 Caversham Road in Pinetown.

Luke Hearn, who is handling the disposal for In2Assets, says the property – opposite a new Mercedes-Benz showroom – has excellent exposure in Caversham Road. “The area features a mix of industry including warehouses, factories, offices and retail outlets. The property itself has access via Caversham Road into New Germany as well as direct access to the M17, about 300m away, and the N3 is roughly 1.5km away.

“It is being sold fully tenanted with a mix of tenants who have occupied the property for some time. One of the current tenants uses three sections of the property – about 720m² – and the other five occupy a combined lettable area of about 1750m².”

Hearn says the gross income of the property – which measures about 3995m² in extent – is over R2million a year. “It is a prime investment property that has been well looked after and maintained. We expect strong interest from the market,” he adds.

For details, phone Hearn at 0713518138 or email lukeh@in2assets.com or visit www.in2assets.com.

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