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R 30 000 000 Bond Calculator | Commercial Property for Sale in Hillcrest Central

Hillcrest, Hillcrest Central

4
Erf Size: 13 315 m²

Fantastic Commercial Investment Perfectly Located Within Close Proximity To The M13 Highway, Western Suburbs, Durban

Do not miss this opportunity of acquiring a great investment with further development potential. Currently in place is a 2500SQM Sectional title Retail shopping centre located in Gillitts, just off the M13. The Sale consists of all the GF sections and there are Real rights attached which can be used to further develop the Centre.

The ground floor consists of the Retail and Commercial component which is for sale and the current tenants are a mixture of Retail and Offices and includes some fantastic well frequented local restaurants. The first floor are sectional title residential apartments privately owned, of which some are also used for offices.

The sale is made up of the retail components of the Gillitts Shopping Centre, of which there are 11. Annual Gross Income is approximately R3.1 Million which excludes utilities, rates and rates. The sale includes a Real Right portion of land adjacent to the building, and would be perfectly suited to the development of a drive-thru or a large retail market. The seller has received several expressions of interest for both from national chains. The site has a vacant section with additional bulk of 2000 m2.


The centre is fully tenanted with retail outlets, offices and restaurants, achieving a net yield of 10.8%. It attracts a variety of local and visiting patrons. There is a fabulous central open air courtyard with covered seating area and ample of parking space throughout the centre.

Financials are available on request to serious buyers.


Property Overview

Listing Number
111454852
Type of Property
Commercial Property
Description
Retail
Lifestyle
Suburban
Erf Size
13 315 m²
Floor Area
2 500 m²
Levies
R 30 000
Rates and Taxes
R 36 000
Zoning
General Business
Floor Number
0

Facilities

Bathrooms
4, Public ablutions for the centre

External Features

Parking
100, Parking ratio 7 bays / 100 m2

Building

Building Name
Gillitts Centre
Gross Lettable Area
2500 m²
Number of floors
1

Other Features

Security
1
Security
Yes
Nearby Public Transport
Bus, Minibus Taxi
Wheelchair Accessible
Yes


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Agency

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Agents

Nolene Fuhri
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