MULTI PROPERTY AUCTION
THURSDAY,25 MAY 2023 @ 11:00 AM
VENUE: THE OYSTER BOX – 2 LIGHTHOUSE ROAD, UMHLANGA ROCKS
INSOLVENT ESTATE
MULTI-STOREY COMMERCIAL PROPERTY
97 TODD STREET, GRANGETOWN, VERULAM
The subject property is situated in Todd Street, within a substantial residential suburb surrounding the town of Verulam. Verulam is situated approximately 35km north of the Durban CBD and roughly 15km north of Umhlanga Rocks. The surrounding neighbourhood consists of commercial properties ranging from small retail shops to supermarkets and shopping centres.
Verulam as a town is busy and attracts people from the surrounding rural areas, low-cost housing developments as well as established middle-income residential suburbs.
The site is roughly rectangular in shape and slopes gently downwards from Todd Street to the rear boundary.
The subject property is improved to a rectangular-shaped three-storey building offering Retail, Storage, Office and incomplete Residential Accommodation.
The Ground Floor comprises four shops and storage (for the hardware). Mezzanine Level /
1st Floor comprising offices and stores and Second Floor Residential Units.
The parking and driveway areas are hardened with concrete paving. The perimeter is secured with brick walling. A basic lean-to is located at the rear.
There is a good demand for residential accommodation of this nature close to the Verulam CBD and on a busy arterial route.
