The property listed below is no longer for sale. Click HERE to view other properties in the area.

R 35 000 000 | retail property for sale in durban cbd

Rentbay no property image

Property Description

This building is located by the beach in fact it just at the back of Garden Court hotel in South Beach. This Block of Flats is formerly Holiday Apartments, South Beach and For Sale for R35 million. Currently made up of 84 large Bachelors (possible 1 bed conversion) and located close to the beach, shopping and CBD this property is ideal for student accommodation, sectional title sale or to hold as a free hold multi -tenanted Block. There are a number of students in the flats. The larger flats on the front of the building sleep 5 and the smaller flats on the side sleep 4. The flats have been renovated, new units and tiled floors. So 3 x 5 x 14 = 210 plus 3 x 4 x 14 = 168 total 378 beds. The 15th floor also has 2 flats so you'll sleep over 380. Present rent R4 500 to R5000 per flat if let monthly to individuals. Students are charged around R1 500 each so you can get R6 000 to R7 500 per flat if let to Student Ground Floor retail space is tenanted by a Bar / Restaurant. The Property has high visibility on the corner of Gillespie and Rochester Streets, South Beach. Financials, Expenses, Rent Roll, SG Diagram, Floor Plan and Property details can be submitted to potential investors. Kindly give me a call if you will be interested in viewing the property


Property Details

Purchase Price R 35 000 000

Type of PropertyRetail

Last Updated30 Jul 2018

Property Location

Similar Property in nearby suburbs

Add Email Alert
To receive emails for similar properties in Durban Cbd!


Close