This part of Town is without a doubt theheartbeat of traditional Indian culture in Durban and in2assets.com the Auctioneering Company is very proud to be in a position to offer one of the traditional buildings for auction on the 7th of November 11h00 at the Durban Country Club as part of their combined property auction.
The building is a mixed use commercial property with a historical façade and consists of two consolidated erven, a double storey street line assembly and a 8 storey block of shops, flats and offices.
The interesting mix of 83 commercial tenants with frontline and alley shops, jewelry manufacturing and wholesaler entities as well as trading offices, cookeries and showrooms feed a constant flow of foot traffic through the complex.
The balance of the entire 155 tenants comprises of 72 residential units and the total income per annum of the building generates a gross turnover of ± R 3.16 million.
The subject property falls also within the Urban Development Zone of eThekwini and therefore offers a tax incentive of up to 20% for its future investor.
