Auctioneers believe Pinetown and Windermere buildings will offer good returns
In2Assets is offering two “high-income investment properties” at its next multi-property auction at the Durban Country Club on March 17 at 11am: a retail/office complex in the heart of Pinetown’s trading hub and a potentially lucrative accommodation block in upmarket Windermere.
The Pinetown property, at 36 Kings Road opposite Pine Crest Centre, has a gross building area of 3959m² and comprises retail and commercial offices occupied by several tenants including the SA Revenue Service.
Luke Hearn, who is handling the auction, says the corner building is in a high-trade node with large volumes of pedestrian and vehicular traffic regularly passing.
“The current gross annual income of about R4.3million a year will be even higher when the current vacant 850m² is let.
“The property – on a plot of about 2055m² – has road frontages on both Kings and Glenugie roads and its own 85 parking bays. In the immediate vicinity there are several retail and commercial businesses including an Engen garage, Planet Fitness and Chicken Licken – all drawing customers to the area.
“Pinetown, being 28km from the Port of Durban and 45 minutes’ drive to Pietermaritzburg, has always been a sought-after location for both commercial and industrial enterprises.”
For more information or viewing arrangements, call Hearn at 071 351 8138 or email firstname.lastname@example.org.
The Windermere building to be sold at the March 17 sale is Hotel 64 on Gordon, which has 36 spacious en suite bedrooms in three separate blocks and is close to various private and semi-private schools in the area.
Virend Deonarain, who is handling this sale, says the property provides the option for profitable opportunities such as hotel operation, retirement home, frail-care facility or student accommodation.
“The property, which until recently operated as a three-star hotel, has bulk for further development on about 500m² of land. It consists of the main building with a reception and lounge area, 40 and 50-seater rooms – the latter was used as restaurant – as well as full catering facilities, kitchen, office and a pause area.
“The building has easy access to the N3, Durban CBD, various shopping malls including Windermere Shopping Centre, and also to Umgeni Road and tertiary institutions, which would make its use as student accommodation a most lucrative option,” Deonarain adds.
For more details about this property, phone him at 071 383 1735 or email email@example.com. The website www.in2assets.com has full details about all the properties on auction on March 17.