ON-LINE ZOOM & LIVE AUCTION
THURSDAY, 10 DECEMBER 2020 @ 11:00 AM
VENUE: LEVEL 1, MAGNET BUILDING, EDSTAN BUSINESS PARK, RIVERHORSE VALLEY, DURBAN
109 BED STUDENT ACCOMMODATION
R312 000 RENTAL INCOME PER MONTH – (R324 000 FROM FEBRUARY 2021)
40 BRIGHTON ROAD, BLUFF
The subject property is located within the suburb of Wentworth, in close proximity to the UKZN University with easy access to public transport.
109-bed student accommodation situated at 40 Brighton Road, Wentworth, Bluff.
The property is broken up into 3 separate buildings. Each of the buildings houses the students. In addition to the student rooms, which are all self-contained with bathroom and kitchens, there is a dedicated study room and lounge area. The full property has Wifi access, which is a huge prerequisite. The property is well maintained, with a live-in caretaker and student manager. There is also on-site security which manages the property.
The entire property is leased out to UKZN on a 3-year lease. The lease is almost at the end of the second year, leaving just over one full year left. The lease should be renewed and the new lease terms have been increased, so the likelihood is that the new lease could be upwards of 5 years.
The Lease and Income & Expense Details are available on request.
Extent: 3254 m²
Monthly Rates: ± R 2,770.00 (Estimated)
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