164 m² Retail Space in Scottsville
164 m² Retail Space in Scottsville
Retail Investment Property. 38 Alan Paton Avenue, Scottsville, Pietermaritzburg
Extent: 164 m | GLA: 150 m | Gross Annual Income: R 229 K | Excellent investor or end user opportunity | Stable tenant occupying over 13 years | Walking distance to 2 shopping malls
This property offers the starter investor or the long-term investor an opportunity to acquire a property in a sought-after area. The tenant has been occupying the property way before 2007, a stable tenant with a particular operating license in place that is difficult and costly to obtain easily within the Scottsville and Pietermaritzburg area.
The property fronts the main arterial road into Scottsville being Alan Paton Avenue and being positioned close to the busy intersection of the R56 Main Road, New England Road and Alan Paton Avenue, this property is ideal for signage exposure. As one drives in off the N3 Freeway, there are several billboards on the way and as such this property will be ideal for billboard income generation. Currently, demand seems to outstrip supply with regards to billboard installations along this specific busy arterial route.
The property offers the ideal opportunity for the investor. However, for the end user and the properties proximity to the Golden Horse Casino and various tertiary institutions, the zoning permits uses such as flats, hostel, hotel, bed n breakfast or even a residential building.
The property is positioned on the main arterial road off the N3 Freeway (North Bound), within Scottsville, Pietermaritzburg. Positioned on Alan Paton Avenue (Durban Road), at the corner of Coronation Road and Alan Paton Avenue, this property is exposed to high levels of vehicular and pedestrian traffic. Once known as the Old Scottsville Pharmacy, this property has easy access to the N3 Freeway (North & South Bound), which is approximately 1.5km away. The property is located approximately 100m from the busy intersection of the R56 Main Road, Alan Paton Avenue and New England Road.
Within a 2km radius from the property are various national food outlets, medical centres and private recognised tertiary institutions. The property is positioned opposite the Woodburn Shopping Centre and within walking distance to the Scottsville Mall. Various backpackers and lodge accommodation facilities as well as the Harry Gwala Stadium and a Rugby Stadium are within close proximity. The property is positioned 1km away from the Golden Horse Casino and Scottsville Racecourse.
Pietermaritzburg is the capital and second-largest city in the province of KwaZulu-Natal and is home to many schools and tertiary education institutions, including a campus of the University of KwaZulu-Natal. Pietermaritzburg has seen ongoing growth and investment in the commercial and industrial market. Extensive growth and investment are evident along the N3 Highway between Durban and Howick with large industrial parks established at Hammarsdale, Umlaas Road, and Lynnfield Park.
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Pietermaritzburg, set amidst the rolling countryside of the Natal Midlands, is one of the best preserved Victorian cities in the world. It's a deeply historical city, characterised by museums and historical routes. Pietermaritzburg is the capital and second largest city in the province. The city is well served with transport links and is conveniently situated between Durban and Johannesburg. It's a thriving modern capital that has carried its history fully into the present. This area has the most comprehensive education centre in the country. Beyond the city limits, the Victorian inspired streets give way to beautiful countryside, characterised by rivers, farms and nature reserves.Find out more about Pietermaritzburg