Mixed retail and office building Main Rd - Doonside

Two owners have come together to sell their respective units to offer a Purchaser the unique opportunity to own this building on the busy Main Road commercial strip in Doonside.

They are are two separate sections (TWO title deeds) in the sectional title scheme called Sea Haven:

Upstairs: 147 square meters of open plan office space with a small kitchen area.
Rental: A church is currently renting the space at a discounted rate of R12 500 / month (Below the market rate).
There is no commitment to a long term lease.
Rates : R2435
Levy: R4325

Downstairs: 100 sq of street level retail space divided into two sections of 50 sq m each. There is a door width opening between the two sections which is currently boarded up. One of the two sections is divided into three rooms, the other is open.
Rental: Both sections are currently empty. A recent tenant was paying R16 500 / month for both sections.
Rates: R 2236
Levy: R3827
This section is currently owned by a VAT registered company and attracts VAT. (On approax R1.0M as a the share of sale proce accepted).
ALTERNATIVELY the Seller will sell the company that owns the property if you prefer. This avoids VAT and reduces transaction costs.

The complex Sea Haven also includes six residential units behind this building.
It is possible to divide this building from the sectional scheme at the Purchaser's cost, to exit from the scheme and the levies. This involves getting a land surveyor to outline the changes and submit the change to the Surveyor General's Office. (6-9 Months at a cost of R80-R100K)

The combined numbers for both units:
Price: R 1 999 000
Levy: R8 350
Rates: R4 671
Rental: R16 500 + R12 500 = R29 000 (With a long term tenant upstairs this could generate R30 000 / month)

Parking
There are five public bays immediately infront of this building plus there is more public parking at the adjacent lot on Main Road.

Access to the N2 is at Seadoone Road just 2 minutes away. Central Durban is 30 minutes and all of the KZN South Coast is easily accessible from Amanzimtoti.

Call for more details.