2055 m² Office Space in Pinetown Central

On Auction

Luke Hearn

In2Assets Properties

2055 m² Office Space in Pinetown Central

On Auction

Address: 36 kings road
Floor Area 2055 m²

Well Located Investment Building. 36 Kings Road, Pinetown

Extent: 2 055 m | GBA: 3 959 m | Current Gross Annual Income: R 4.3 Million (including recoveries) | Retail and office component | Multiple tenants including SARS | Exclusive parking area with secure basement parking | 85 Parking bays

LOCALITY

The property enjoys a brilliant location with two road frontages onto Kings Road and Glenugie Road. The property lies opposite the Pine Crest Centre. The immediate vicinity comprises an abundance of retail, commercial and trading businesses which all utilise the high volumes of vehicular and pedestrian traffic. Businesses in the immediate vicinity include Engen garage, Planet Fitness, Chicken Licken, The Pine Crest Centre and various other commercial and retail operations.

PRIMARY USE

The subject property offers a high-income investment opportunity in the heart of Pinetowns trading hub. The property comprises a mix of retail and commercial offices which house multiple tenants including the South African Revenue Service. The position of the property along Kings Road offers a prime retail position as the property lies opposite the Pine Crest Centre. The area is a high trade node with large amounts of pedestrian and vehicular traffic passing the building every few minutes. The prime corner positioning provides ample exposure to the building.

Current tenants include SARS, Cellular Mate, Mike Mudaly & Associates, Garment Division, Hair & Beauty Salon, Signa Academy and The Unlimited. Group. The current gross annual income is R 4.3 million per annum and offers large upside should the vacant 850 m be let out.

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Luke Hearn

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Pinetown, being a very multi-cultural area, attracts different types of people from all walks of life. Having its own CBD, the area offers convenience for those who own or work in businesses in the area. The suburb has great homes, at affordable prices, and good schools that will appeal to families as well. This neighbourhood has a reputation as a "motor town", due to the high number of motor dealerships along the main road. Pinetown offers a slower pace of life than Durban, but is a short 15 minute drive from the bigger city.

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2055 m² Office Space in Pinetown Central

On Auction

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