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Restoration of property holds good profit potential

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Renovated building will add to redevelopment of Durban CBD

Aucor Property’s lots for its multi-property auction at the Durban Country Club at 11am on October 29 include a prime commercial restoration and development opportunity in the heart of the Durban CBD.

On offer is a seven-storey building, previously known as Lodson House, at 118a Dr Yusuf Dadoo (Grey) Street, with retail space on street level, apportioned office space on the other floors, and two cellphone towers on the roof.

Rona Pillay, who is handling the auction of the property, says it needs major renovation but has substantial development potential as its central location holds many benefits for savvy investors.

“Investment in the Durban CBD is now very popular with investors with foresight.

“The inner city’s revival is well under way and now is the time to acquire property there while it is still affordable,” she says.

“The Durban Chamber of Commerce and Industry has recently stated that greater investment in the restoration of deteriorating infrastructure and the development of new infrastructure remain the cornerstones for economic growth and development and can actively empower CBD-based businesses to unlock potential economic benefits.

“The restoration of Lodson House by its new owner will contribute to this quest,” says Pillay.

For more information about all the properties which will be on sale on October 29, phone Rona Pillay at 082304 5636 or 031 512 5150, email ronap@aucor.com or visit www.aucor.com. 

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