Commercial Retail / Office Block - Aucor
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DURBAN CBD Commercial Retail / Office Block 331 Dr Pixley Kaseme (West) Street, Durban CBD Monday, 29 April 2019 @ 11h00 The Durban Country Club, Isaiah Ntshangase Road, Durban Rona Pillay | 082 304 5636 | 031 5125150 / 15 ronap@aucor.com Viewing by appointment Terms & Conditions R50 000 refundable deposit (strictly credit card or cash transfer only). Bidders must provide original proof of identity and residence on registration. No cash will be accepted at the auction. No exceptions. All bids are exclusive of VAT. Aucor Property may bid up to reserve on behalf of the sellers. Subject to change without notification. Auctioneer: Justin Behrens
Commercial Property
Durban CBD
Contents
Property Information
Locality Maps
Pictures
Contents
Additional Information
Indexand Conditions
Terms
If you are the successful bidder, the following is applicable:
▪ 45 Day Guarantee Period from confirmation of sale by the Seller
▪ 10% Occupational Interest per annum on balance of the purchase price – if applicable
▪ Possession & occupation of property on registration of transfer
▪ Electrical (including electric fencing), woodborer and gas compliance for the Seller’s account, if applicable
▪ *No subsequent offers from third parties will be entertained during the confirmation period
Auction Information
Deposit 10% of bid price payable by the Purchaser on the fall of the hammer
Commission 10% plus VAT thereon of the bid price payable by the Purchaser on
the fall of the hammer
Confirmation period 09th May 2019
Rules of auction and conditions of sale are available on www.aucor.com
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
General Property Address 331 Dr Pixley Kaseme Street
Durban CBD
Title Deed Information Title Deed Description Sections 8; 27; 28; 29; 30; 31; 32; 33; 34; 35; 36;
37; 38; 39; 40; 41; 42; 43; 44; 45; 46; 47; 48; 49 &
50 SS Sanlam Centre
Total Registered Extent 12 445m²
Municipal Information
The subject property is situated within the boundaries of the eThekwini Municipality.
Town Planning Information – Permitted
Zoning : General Business (Central)
F.A.R : Refer to Zoning Certificate
Coverage : N/A
Min. Building Line : Refer to Zoning Certificate
Min. Side and Rear Space : N/A
Max. Permitted Height : Refer to Zoning Certificate
Parking : Refer to Zoning Certificate
➢ Refer to electronic zoning certificate at the end of the fact sheet.
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Locality
The property fronts onto Dr Pixley Kaseme (West) Street in Durban’s Central Business District, which is subject to very high
volumes of pedestrian and vehicular traffic. The property falls within the Durban Central precinct, as per eThekwini’s new
Urban Development Zone (UDZ).
This is one of nine new precincts demarcated within the greater central city, together forming the UDZ. The aim of creating
this zone is to stimulate new investment and urban regeneration to the central parts of the eThekwini city, through tax saving
incentives applicable to new development or building restoration.
The neighbourhood within the immediate vicinity of the property comprises mostly retail space on the ground floor and
offices on the upper floor levels. Some accommodation has been upgraded, whilst general landscaping and improved
cleanliness and security have stimulated new investment in the area.
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Locality Maps
GPS co-ordinates for the site are
as follows: -29.858808 /
31.023502
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
Property Description The property is situated in the CBD comprising of 14 floors offering retail + office space.
Commonly known as West Tower, this building has excellent passing trade.
NB: The entire building has been sectionalized and it is to be noted that Sections 9; 10 & 11
namely the 3 shops on the ground floor (McDonalds, Pretty’s Sweet Shop & Shawarma
Palace are excluded from the sale of the building, as they are owned by other entities.
Access Pedestrian access is obtained directly off Dr Pixley Kaseme St. The building is serviced by 5
lifts (4 passenger lifts and one service lift) which is accessed from the common area on the
first floor. Access is strictly manned through the building and alternate access to each floor
is via stairways.
Ground Floor Comprises of a mixture of tenants including Capitec Bank & Sheet Street, ATM’s and direct
access into Mercury House which is behind this building. There is escalator access to the
first floor.
First Floor Offering more retail space and secured access to the offices above with the security control
room situated at the entrance to the lifts.
Second Floor This level is accessible via another set of escalators and is generally the access for students
to the colleges situated in the building. There is also a food court and pause/eating area for
the general public and the students.
Offices Floors 3 to 14 comprises of office facilities and are multi-tenanted. Each floor enjoys excellent
cooling systems and have ablutions and kitchenettes on each level. Majority offices are
generally open plan and can easily be adjusted to suite tenants. Some of the floors have
been renovated by the tenants.
Floor 15 is been occupied by the building supervisor and the roof is accessible via this floor.
The cooler tanks are situated on the roof level.
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
Additional Information, as advised by the building manager:
• There is a main DB situated per floor and where there are multiple tenants on a floor, each
tenant has their own DB and prepaid meter.
• There are three generators located on the 15th floor which service floors 12; 13 & 14 (two
are SDMO generators and a Deutsch generator).
• Electricity & water consumption for the offices are calculated by a utility company that
manages the readings and calculations. The company is called UMFA. The water is
calculated on PQ ratio unless there is an independent water meter installed for the relevant
tenant. The three shops that are excluded have their own metres.
• Electricity & water for common areas, lift & AC plant are apportioned per tenant.
• There is a sprinkler system for the ground, first and second floors.
Parking There is no parking in the building, however rented parking is available in the adjacent
building (Delta Towers).
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
Lease Details
Monthly Rental
Shop Tenants Name Lease Start Lease Expiry Approximate (Excl. Vat) Escalation
No. Date Extent (m²)
GROUND FLOOR
001 Capitec Bank Ltd 01/03/2005 28/02/2025 239 R85 091.63 7%
006 Mr Price Group Ltd 01/02/2019 31/01/2022 267 R42 720.00 6%
006A Dumoluhle Trading 01/01/2019 31/012/2021 64 R7 955.84 10%
007 Vuyani Mthembu 01/02/2019 31/01/2022 67 R8 253.12 9%
008 RJB Copy Services CC. 01/08/2016 31/07/2019 67 R13 703.83 10%
009 Naeem Khan 01/01/2018 31/12/2020 20 R11 105.58 8%
1st FLOOR
10A Amart Clothing CC 01/02/2019 31/01/2021 70 R7 103.60 10%
10B Mambambo Trading 01/03/2019 28/02/2020 30 R3631.20 -
010C Certosa Trading 01/02/2019 31/01/2021 50 R7 150.50 10%
011 Asmall & Sons (Pty) Ltd 01/02/2018 31/01/2020 877 R81 163.35 -
012 RJB Copy Services CC 01/03/2019 28/02/2021 22 R8 395.64 10%
2nd FLOOR
020 Zanele Elizabeth Mkhwanazi 01/01/2018 31/12/2018 450 R15 286.50 -
021/22 Ganes Narasimulu Naidoo 01/05/2012 30/04/2020 40 R4 360.99 7%
023 Nompumelelo Ngema 01/06/2018 31/05/2021 20 R1860.20 8%
024 Christopher Shezi 19/02/2018 31/01/2021 64 R5 139.90 10%
025 Onamalay Rungan 01/03/2018 28/02/2021 29 R2 678.64 -
026 Incetiontech Foods 01/03/2018 28/02/2021 30 R2 678.64 -
028 VACANT 97
029 VACANT 50
3rd FLOOR
031 VACANT 390
060 South African Film Institute (PTY) Ltd 466
4th FLOOR
040 Kings Varsity College 01/04/2019 31/03/2022 856 R23 976.56 10%
5th FLOOR
040 Skyline Financial Consultants 01/04/2019 31/03/2021 250 R9 035.00 10%
040 VACANT 606
6th FLOOR
060 South African Film Institute (PTY) Ltd 01/01/2017 31/12/2019 856 R96 407.33 8%
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
Monthly Rental
Shop No. Tenants Name Lease Start Lease Expiry Approximate (Excl. Vat)
Date Extent (m²)
701 Calling Promotion Ministries 01/10/2018 30/09/2019 216 R7 130.16 -
702 VACANT 90
703 VACANT 70
704A PL Alarms (Pty) Ltd 01/07/2018 30/06/2021 120 R4 561.20 9%
704B Malungi Ndelu 01/08/2018 31/07/2021 30 R1 290.30 8%
705 Gods Mountain Church 01/02/2019 31/01/2020 178 R6 500.56 -
International
8th FLOOR
060 South African Film Institute 856
(PTY) Ltd
9th FLOOR
901 Dumoluhle Trading 01/03/2019 28/02/2022 70 R3 222.08 10%
903 SMT Training 01/05/2018 30/04/2019 108 R4 645.08 -
903B KPI College 01/07/2018 30/06/2020 351 R 4 161.36 8%
911 VACANT 55
912 VACANT 54
10th FLOOR
1001A VACANT 179
1001B VACANT 100
1002A H-Tech Computer Training 01/09/2018 30/08/2019 40 R1 720.40 9%
Centre
1002B VACANT 60
1003 VACANT 80
1004 Chief Pilot (Pty) Ltd 01/03/2019 28/02/2022 53 R2 440.12 10%
1005 Spread The Word Life 01/10/2018 30/09/2019 69 R2 064.48 -
Community Development
1006 SMT Training Centre (Pty) 01/07/2018 30/06/2019 58 R2 794.66 -
Ltd
1007 VACANT 51
1008 VACANT 100
11th FLOOR
1101A Africa College of Technology 01/12/2018 30/11/2019 320 R7 363.20 -
1101B VACANT 208
1102 Sound of the Trumpet Church 01/11/2018 31/10/2020 105 R2 682.86 8%
1103 Renitha Singh 01/04/2017 31/03/2030 153 R13 323.69 9%
12th FLOOR
1201 VACANT 856
13th FLOOR
1301 Urban Lifestyle Rewards 01/10/2018 30/09/2021 500 R14 005.00 9%
(PTY) LTD
1302 VACANT 356
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.com
Commercial Property
Durban CBD
Property Information
Monthly Rental
Shop No. Tenants Name Lease Start Lease Expiry Approximate (Excl. Vat)
Date Extent (m²)
14h FLOOR
1401 VACANT 456
1402 Hotel Express International 01/03/2018 28/02/2020 400 R10 067.40 -
ATM
001A Thulani Shezi 01/06/2018 31/05/2020 9 R837.09 10%
ATM 002A ABSA Bank Limited 01/06/2018 31/05/2023 9 R5 006.44 6%
ATM 003 NEDBANK Limited 01/06/2013 31/05/2019 15 R3 345.56 6%
Condition The building is in a good condition. We have not undertaken a structural survey, nor have we arranged for
tests of inspections of the service installations, however these appear to be sound and in good condition.
Building Areas: Gross Lettable Area: 12 445m² (as indicated in the sectional title plans S.G. NO. D 260/2015)
Seller Vat Status
The Seller is a Vat vendor. Vat will be applicable to the Purchase Price (option to zero rate).
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.comCommercial Property
Durban CBD
Images
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.comCommercial Property
Durban CBD
Images
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.comCommercial Property
Durban CBD
Images
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.comCommercial Property
Durban CBD
Images
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
www.aucor.comCommercial Property
Durban CBD
Zoning Certificate
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither AUCOR (Pty) Ltd nor the Seller/s guarantee the correctness of the
information, provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a
result of errors or omissions in the information provided, whether due to negligence or other wise of AUCOR (Pty) Ltd or the Sellers or any other person.
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