149 Kingsway Road, Warner Beach, KwaZulu-Natal, South Africa
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Auction
- Lot 5
- South Africa
- Mixed Used
- Commercial
Highest Bid R1 800 000 (STC)
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
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Property 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.
Location
- Very well located on Kingsway Road in Warner Beach
- Warner Beach is a small resort town south of the Little Manzimtoti River in KwaZulu-Natal, South Africa and it forms part of eThekwini
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*Terms & Conditions
No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.
