Property features

R3 950 000
Rates R5407 pm
Security Estate

Property Details

Strategically positioned, with tenants already in place, this well-known investment gem yields an excellent return for its current and future owners. Directly opposite the Scottsville Mall, and within walking distance from UKZN, this property has a history of student accommodation, a very popular investment type for this area due to its high returns. Currently the premises being let out to an IT training school, who makes use of the large double rooms as classrooms and offices. The current owners were careful to keep the original character and essence in tact while doing refurbishments, effectively combing hi-tech facilities with historical charm. This property also offers other investment opportunities, being on a street shared with other offices and medical professionals. This is in a high-traffic location, ensuring maximum visibility, excellent foot traffic potential, and convenience to nearby amenities. The property's facilities consiste of the following: - ERF size of 2015sqm - Building size of +/-450sqm (includes an upstairs and downstairs in the main building and a stand alone cottage) - 12 current rooms (offices, classrooms, and common areas, that could easily be turned into 18-20 sizeable rooms) - Aircons in all rooms - 5 toilets - 1 kitchen and scullery - 1 dining hall - 1 reception area - 4 storerooms - 15 parking bays - Thatch lapa with built-in braai - CCTV cameras, beams, and electric fence - 3 phase power - Generator cover with manual changeover switch - Jojo tank for backup water storage (pump feeds all toilets and sinks except kitchen) - North-facing orientation (Feel free to get in touch for more details on the amenities of the property) For the history buffs , the property was built in 1909 by award-winning architect Collingwood Tully who is also known for his winning design of Old Main Building on UKZN's Main Campus, the old YWCA building in Pietermaritz Street, and the Voortrekker Museum. Tully was a protégé of Herbert Baker who designed the Union Buildings in Pretoria. Inside, the building has an impressive entrance hall with hardwood floors and staircase, and classic crown molding on the high ceilings. In short, this commercial property delivers on all fronts. Don't miss the opportunity, get in touch today to find out more! [*Sole Mandate]