4850 m² Commercial space in Durban CBD

R 95 000 000

Craig Murphy

PWR Industrial & Commercial

4850 m² Commercial space in Durban CBD

R 95 000 000

Floor Area 4850 m²

The building, commonly known as PARADE COURT, is well located, on a highly visible, busy beach-end of West Street (Dr Pixley ka Seme).

On Durbans Golden Mile, less than 200 meters from the beach and beachfront promenade, at the very end of West Street, right on the Marine Parade.

This completely renovated building, comprises a retail and hotel component, as follows :

74 hotel rooms (mixed double, family and self catering rooms)

Rooms with sea-views have been adapted for the the discerning guest.

A retail section, with 20 arcade shops and 2 road facing shops.

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PROPERTY DETAILS

LOCATION & PROPERTY DETAILS

The building, commonly known as PARADE COURT ( 11 PALMER STREET ), is well located, on a highly visible, busy beach-end of West Street (Dr Pixley ka Seme), right on Durbans Golden Mile.

The building comprises a hotel component with 74 hotel rooms ( mixed double, family and self catering rooms) and a retail section with 20 arcade shops and 2 road facing shops.

TARGET MARKET

The owners have invested substantial resources into this hotel and are creating a unique African concept, catering for both the economy and affluent traveller.

Rooms are kitted out for both the budget no-frills guest, as well as the higher end guest. This will ensure an even occupancy throughout the year.

Rooms with sea-views have been destined to appeal to the discerning guest.

The target market is the tourist seeking, clean, safe and reasonably priced, overnight accommodation, on the beachfront.

SECURITY AND SAFETY

On arrival, a friendly receptionist checks in the guests. The guest is then assisted to the room by staff.

Trained security personnel will man the entrance of the hotel and also monitor the CCTV screen.

All common areas are monitored with a state of the art CCTV camera system that provides for remote viewing, meaning that management is able to view activities from home or other offices.

Regular security patrols are done throughout the building to ensure the safety of guests.

OTHER

Remote access state of the art CCTV

Hotel door lock sysytem.

Computerized check in and out management system

CURRENT OCCUPATION CAPACITY & INCOMES

RETAIL COMPONENT

22 retail shops

Total Rental Income - R130,000 PM

HOTEL COMPONENT

49 economy rooms

25 upmarket rooms

Average Hotel Turnover : R600 000 PM ( low season)

TOTAL AVERAGE MONTHLY INCOME : R730,000 / month

SELLING PRICE : R95 million (includes assets) + VAT (can be zero rated if purchase into a vat registered company) _________________________________________________________________________________________________________________________________________________________________

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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

4850 m² Commercial space in Durban CBD

R 95 000 000

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