In2Assets will offer four units in the Metlife Building in the Durban CBD at its next multi-property auction at the Durban Country Club at 11am on February 18.
Two ground-floor retail units and two upper-level offices in the sectional title scheme building at 391 Anton Lembede (Smith) Street will be auctioned.
Virend Deonarain, who is handling the sale for In2Assets, says units 1 and 3 on street level have a combined gross lettable area (GLA) of about 930m², while units 12 and 13 - on the 11th and 12th floors - feature a total GLA of around 1750m².
The total gross rental income of the four units is about R3.4million.
To be auctioned individually or as a combined lot, the four units have an allocation of 29 secured parking bays in the building’s basement, which is accessed from Fenton Road.
“This is an excellent investment opportunity with the location being a tremendous advantage,” says Deonarain.
“The modern building is in the busiest node of the Durban CBD, on the corner of Anton Lembede Street and Fenton Road, and is passed by thousands of cars and pedestrians daily.”
The property is in the “Durban Central” precinct of the new eThekwini Urban Development Zone (UDZ), one of nine new precincts demarcated in the greater central city to form the UDZ.
The aim of creating this zone was to stimulate new investment and urban regeneration in the central parts of the city through tax incentives for new developments or building restoration.
For more information about the sale, phone Deonarain at 071 3831735 or email [email protected] or visit www.in2assets.com.
The Metlife units are only some of a wide variety of prime properties which will go under the hammer at the In2Assets sale taking place on February 18.