1923 m² Commercial space in Durban CBD

R 28 000 000

Craig Murphy

PWR Industrial & Commercial

1923 m² Commercial space in Durban CBD

R 28 000 000

Floor Area 1923 m²

Metro Lodge Express is well located in close proximity to Durbans Golden mile which is approximately 300 meters away. Situated in a relatively quiet area, away from the noise of Point Road.

Conveniently, it is practically in the CBD of the city of Durban and close to the harbour, the beachfront promenade, the International Convention Centre (ICC), the Point Waterfront Precinct and numerous tourist destinations. It is also only 3,3 kilometres (7 minutes) from the Durban University of Technology (DUT) and 6,8 kilometres (10 minutes) from the UKZN Campus.

NB. Interestingly enough, there are a number of student accommodation buildings very close to the Metro Beach Express, that have current contracts with UKZN.

The one that was recently sold is in Rutherford Street and this particular building is 4,6 kilometres (10 minutes) from the Durban University of Technology (DUT) and 7,5 kilometres (11 minutes) from the UKZN Campus.

SELLING PRICE : R28 million plus VAT : Selling Price includes all assets (VAT registered - can be zero rated)

CURRENT ROOM CAPACITY

Has ground floor plus 3 floors, 2 of which are currently functional for accommodation purposes.

3 upper floors with 46 operational bedrooms and 5 not in use on 3rd floor.

Has 46 en-suite rooms.

Can currently accommodate 100 guests.

1st floor - 23 rooms - accommodates 50 people - 19 doubles (38 people) - 1 triple (3 people) - 3 quads (9 people).

2nd floor - 23 rooms - accommodates 50 people - 2 singles (2 people) - 17 doubles (34 people) - 2 triple (6 people) - 2 quads (8 people)

All rooms have en-suites, tvs, beds and fans or air-conditioners.

AVERAGE SIZE OF DIFFERENT ROOMS

Sizes vary from 12 m2 to 15 m2

EXPANSION / STUDENT ACCOMODATION

The 3rd floor needs attention depending on usage

This 3rd floor has 5 rooms that could be converted for accommodation, study or used as an entertainment area.

This floor also has open verandah area, which could be enclosed to accommodate more rooms, if required.

Ground floor has well designed reception area, which could be adapted for dining purposes, if required.

Included is approx. 200 m2 of prime land currently used as parking.

This additional land can be developed up to at least the same height as the current building but can probably be developed higher than that (see additional information below).

Alternatively, it can be sub-divided & sold.

RETAIL COMPONENT

2 retail shops & reception with total monthly rental income of around R38,000 / month.

FEATURES

The building, is conveniently well located at the corner of Milne Street and Brickhill Road (Sylvester Ntuli), in Durban.

It is less than 300m from the Golden Mile, the magnificent promenade and our wonderful beaches.

This commercial building has been converted to suit accommodation with 43 en-suite room.

Has ground plus 3 floors, 2 of which are functional for accommodation purposes.

Ground floor has well designed reception area.

Laundry area has washing machine. Linen is hung on washing lines outside for drying.

Back office with store-room, could be converted to kitchen if necessary.

Hotel door lock access controlled system.

16 closed-circuit cameras, with remote access function.

44 x colour tvs + 1 x central dstv decoder connected to all rooms.

beds /linen/ curtaining (all rooms)

Signage

Washing machine.

Airconditioning in office and reception area.

Computer and equipment for hotel access control.

ADDITIONAL INFORMATION

Monthly Rates : +/- R7,320

Land Footprint : +/- 1,200 m2

Footprint developed : +/- 786 m2

Footprint available for further development : +/- 413 m2

Current Area Under Roof : (ground + 2,5 floors) +/- 2,500 m2

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Experience Durban Central

Durban Central is a diverse, colourful neighbourhood that includes the beachfront areas, the Berea, Morningside, Glenwood, Musgrave and the CBD. The beach is the biggest attraction and locals flock the promenade to cycle, run, surf, swim, fish or just catch some sun. There are also incredibly lush parks and open spaces dotted around the neighbourhod for residents to take advantage of. The nightlife in Durban Central is exciting with numerous bars, pubs, restaurants and night clubs in close proximity to each other. As its name implies, Durban Central's location makes it convenient to get to any of the other areas around Durban.

Find out more about Durban Central

1923 m² Commercial space in Durban CBD

R 28 000 000

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