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Sought after commercial and industrial properties for auction online

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Properties with an estimated value of over R300 million will be auctioned in an online live studio auction by In2assets on June 3 starting at 11am.

With In2assets auctioneer Andrew Miller conducting proceedings, buyers will be able to bid via the In2assets app or from their computers remotely from anywhere in the world while Covid-19 lockdown regulations prevent public gatherings.

Among the standout properties to be offered is a well-located commercial block in Durban’s central business district, at 52 Joe Slovo (Field) Street. Each level of the four-storey building – passed daily by high-volume foot traffic – has a configuration of open-plan and individual offices, partitioned by dry-walling. 

Externally, the front facade has been modernised, and the building is served by lifts and stairs, with ablution facilities on every floor. The second commercial property to be auctioned is at 108 Maud Mfusi (St George’s) Street in Durban Central in one of nine Urban Development Zones forming part of the Inner-City Revival programme.

The building originally functioned as a 24-flat residential block and has nine storeys served by one lift. Each floor, apart from the ground floor, features two three-bedroomed flats and one two-bedroomed flat.

The property was converted into student accommodation in 2011 and is fully compliant and fitted to the University of KwaZulu-Natal specifications as it has been leased by the university for the past eight years.

The flats have a total of 64 bedrooms and there are currently 128 beds in building as well as other movables which will be included in the sale. This property – with great potential for student accommodation – will be sold with vacant occupation.

Also on offer are two floors of sectional title industrial properties: Sections 4 and 5 Everest Road Properties, located at 115 Everest Road, Parkhill, Durban North.

Section 4 on the fourth floor of the building measures about 690m² and has a warehouse with reception area, three offices, two canteen areas, kitchen and ablution facilities with a shower.

Section 5, on the fifth floor, is approximately 590m² and has a warehouse area with a high-flammable store room, three offices, two canteen areas, kitchen and ablutions with showers.

In2assets says these premises are sought after and considered prime properties in the eThekwini Municipality because of their location and easy access from both the N2 and R102. For more details of these properties and other lots on offer, and to participate in the live studio auction, email bid@in2assets.com and download In2assets App from the App Store (iPhone) or Play Store (Android) to bid.

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