Still 30 years on the lease with the five units usually fully let
Among the lots for In2Assets’ multi-property auction on October 24 is a leasehold commercial property at 99 Intersite Avenue in the Umgeni Business Park in Springfield. The sale will start at 11am at the Durban Country Club.
Luke Hearn, handling the disposal for In2Assets, says there are still 30 years on the head lease for the 2140m² property. “There has been an excellent tenancy at this property with all its five units usually fully let. Currently, two are vacant. The property features commercial offices with smaller warehouse components which could be reconfigured to create a large warehouse or multiple units to be let. The yard is secured with palisade and electric fencing and there are 42 parking bays.”
Hearn says Umgeni Business Park is a well- developed and popular commercial node off Umgeni Road. It fronts on to Intersite Avenue which runs parallel to Umgeni Road, and its direct access to the N2 to the west, and Durban CBD to the east.
“This is a blue-chip business hub where service, retail and industrial businesses prevail. The node – characterised by established tenants or owner-occupiers – is close to the popular Springfield Value Centre and Makro shopping centre.
“The N2-M19 Interchange upgrade has been completed, greatly improving accessibility to the area. Intersite Avenue is a prime road in the Umgeni Business Park and has a high level of vehicular passing trade. The property on offer has unlimited potential,” Hearn adds.
For more information, phone him at 071351 8138 or 031 574 7600 or email email@example.com.