215 Peter Mokaba Road (North Ridge Road) | Morningside | Durban | 4001
4 Storey vacant office building
Well positioned commercial offices
Easy access to highways
Possible residential conversion
GLA: 3,354 sqm
4 roof top antennae generating additional income
The subject property, known as North Ridge Road (LexisNexis), is located in a predominantly hilly area of Morningside, north of Durban CBD. There is easy access onto the M19, R102, M17, N2 and N3 highways. It is approximately 6km north of Durban CBD, 15km south of Umhlanga and 30km south of King Shaka International Airport.
Morningside, which forms part of the greater Durban node, is mainly characterised as a residential area with small pockets of commercial and industrial nodes, occupying the North Beach development area. The subject property is in close walking distance to the Durban International Convention Centre, and the Sahara Kingsmead Stadium.
The property is a 4-storey square shaped commercial building comprising of a ground floor reception area with ground floor parking area behind the receptionist area, lower ground floor parking bays, four floors of office space and a canteen located on top of the flat waterproofed concrete roof. The construction is framework with plastered and painted brick and mortar exterior façade, interior brick wall is plastered and painted. Windows are aluminium casements with glazed glass.
Internally the property is improved with a combination of plasterboard and suspended acoustic panelling with LED lighting. The ground floor reception area floor is covered with smooth power floating concrete, while flooring at first to third floors are a combination of fabric carpeting along the open plan office space and ceramic floor tiles along the passageway. Offices are constructed out of dry-wall partitioning with wall mounted console units and split units provide an active environmental climate control within the building. There is one elevator in the building centrally located offering access to all three levels of the office space, and lower ground floor. Ablutions are centrally located, improved with floor to wall ceramic tiles, under suspended ceiling boards with LED lighting.
Each floor offers two pause areas complete with built-in cupboards, wooden flooring, and aluminium enclosed siting areas. The second floor houses a library. The building is secured by means of closed-circuit television (CCTV) camera systems and biometric finger card readers.
The property offers oceanic view from the top roof/canteen structure, and a view of the Peter Makoba Stadum.
The property lends itself to a residential conversion.
Title Deed and Zoning Information
Title Deed Number: T34152/2012
Legal Description: Portion 4 of Erf 13 Springfield, Portion 29 of Erf 13 Springfield, Portion 3 of Erf 795 Durban and Portion 5 of Erf 795 Durban
Registered Owner: Delta Property Fund Limited
Local Authority: Ethekwini Municipality
Extent: 2,383 m² (combined size of all erven)
Zoning: General Business
Primary Uses: Commercial Office Building
Forecasted monthly rates and taxes expense
|Current Rates and Taxes||R78 277.50|
|Projected Rates and Taxes for July 2023||R82 974.00|
The Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.
This property is being sold by way of a Private Treaty process under a Sole Marketing Mandate with SAPX.
Interested parties will have access to the Property Brochure and NDA on registration on the SAPX website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
- The price offered.
- Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
- Conditionality of the offer and timeline to conclude the deal.
Should you have any queries regarding the process please contact either Lara or Kedibone
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