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Auction Date: 04/12/2019     Start: Closing from 12:00     Commercial Property

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Warner Beach, KwaZulu Natal - House & Large Retail Space In Prime Position Of Warner Beach

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Warner Beach, KwaZulu Natal - House & Large Retail Space In Prime Position Of Warner Beach With Rental Income

Commercial · Mixed Used
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Property Summary

The sale is SUBJECT TO CONFIRMATION by the parties involved

- Prime Position in Warner Beach
- Consists of a residential house and a large commercial building on the property
- Erf extent: 943 sqm
- Income producing

Location
- Very well located on Kingsway Road in Warner Beach
- arner Beach is a small resort town south of the Little Manzimtoti River in KwaZulu-Natal, South Africa and it forms part of eThekwini

Description
- The property consists of the following accommodation:
    1.) 149 Kingsway Road Entrance
- The front property is a large retail shop and currently trading as a restaurant
- Extent: +- 300 sqm
- Solid tenant with a long lease in place, with an escalation of 8% per annum
- On this level there is a 50 sqm 1 bedroomed flat let with secure parking
- Additional double garage currently being rented as an upholstery business
- Adjoining the upholstery business is an office and bathroom with toilet, basin and shower

    2.) Massey Road Entrance (and also has access from Kingsway road)
The house is situated at the back of the property and has access from either Kingsway Road or Massey Road
4 bedrooms, 2 bathrooms and a large lounge on upper level
Extent: +- 450 sqm
Doors leading out from the lounge onto a deck with lovely views of the ocean
Street Level (Massey Road) has a beautiful open plan kitchen with granite tops, eye level oven and gas hob
Spacious lounge and dining area, a guest toilet and undercover verandah
From the undercover verandah there are doors leading out onto another deck  
Double garages with automated doors
Current income +- R28 000 per month
- Additional potential +- R13 000 per month for house, which is currently being used by owner
- Total monthly income +- R41 000 per month if fully let

Buyers Commission of 2% plus VAT will be applicable

Please note: All legal documents can be viewed by clicking on the ‘Legals’ tab above, in order for you to carry out due diligence in relation to the property. By doing so, this will also then ensure that you are continuously updated regarding any pricing changes on the property before the auction.

Auctioneer Details

BidX1 SA Logo
BidX1 SA
149 Kingsway Road, Warner Beach, KwaZulu Natal
anthony.stroebel@pamgolding.co.za