1 210 m² Commercial space in Congella

Description:

A large industrialwarehouse complex on Sydney Road in Congella, Durban split into 8 separate units, with retail frontage, roller shutter doors, offices, kitchenettes, bathrooms, and open parking.

Zoned Heavy Industrial.

Size:

Roughly 6,5656,743 m² of lettable space the two sources differ slightly, likely depending on whether parkingyard areas are counted, plus about 1,300 m² of yard space.

Price:

Around R38.8mR39m, excluding VAT works out to about R5,755 per m².

Tenanted:

7 or 8 units are occupied 87 occupied, by a solid mix of tenants some big national names BSA, MTNIHS Towers, Connect Logistics plus smaller long-term tenants, including one clothing manufacturer thats been there over 25 years.

Income:

Gross monthly rental: about R426k excl. VAT R5.1myear

Municipal rates cost the landlord R77kmonth

Net income after costs: somewhere between R4.3m and R4.9m per year, depending on the source

That gives a net yield of around 14 fully tenanted a strong return for an industrial property

Why its attractive:

Very close to Durbans harbour and Maydon Wharf under 5km

Easy access to major roads N2, N3, M4

Has its own big diesel generator, so it keeps running during load shedding

Sits in Congella, one of Durbans busiest industriallogistics areas

A R11 billion upgrade planned for the port TransnetICTSI Pier 2 deal could boost demand for industrial space in this area over time

Summary:

Its a well-located, mostly-occupied industrial building with a diverse group of paying tenants, decent income, and some upside potential if the port upgrade drives more demand for warehousing nearby. The two source documents dont perfectly agree on exact size, price, and net income figures worth confirming the final numbers before using them in a client-facing document.