Historic Re-development Opportunity - Point, Durban

Historic Re-development Opportunity
CONSOLIDATE, RESTORE & DEVELOP THESE TWO HISTORIC SITES
Two valuable properties, positioned on a prime corner location, right on the boundary of the rapidly developing Point, Durban Precinct.
The rear property, which is located behind the historic corner building, is a vacant plot, which has a footprint of 366 m2. The developed front corner site building is located of a footprint of 371 m2.
Due to these two properties prime locations on Mahatma Ghandi Rd and the fact that they will both will be on the corner of the main exit from the future transportation node, for the entire Point Waterfront Precinct, they will offer an investor / developer, a fantastic opportunity to secure this prime development location into the future!!
Furthermore, as they are located on the Point, Durban's' main access and egress road, Namely Mahatma Ghandi road, these two prime corner sites, which can be consolidated into one development property, offer a valuable location right next to the Point, Durban, which will become even more valuable when the new shopping mall and high rise beachfront residential and hotel developments, within the Point Waterfront Precinct start to come out the ground!!

Development Opportunity
Local architects, Emmett Architects, who have been involved in developments within the Point, Durban to the last 10 years, have conceptualised an exciting new development and re-development scheme, which includes the incorporation of the historic corner building into the dynamic high rise development behind it.
In the designs and 3D models, have been included in the pictures section of this link, the architects have investigated the possibility of having a drive-up apartment block. There are challenges here but the architects are willing to sit down with the investor / developer to work through the issues and the opportunities that this valuable site presents.

The architects, have used the ground floor as a possible restaurant space, with a cocktail bar on the first storey.
The parking for this commercial section, is on the lowest three floors with two floors of dedicated parking above this. The two floors of parking also act as a visual break between the historic fabric of the existing building and the massing of the apartment block.

The ground & 1st floors being commercial and another approximately 15 floors of residential apartments being allowable. The architects have also investigated the restoration of the original existing structure. See architects conceptual designs in photos section.
Trish Emmett will be happy to meet with potential purchasers for this property, to discuss the various opportunities that this valuable, extremely well positioned site offers site present.
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Herewith below are the details of sites 25 & 16, which are two freehold properties owned by same landlord and they are accordingly, being sold together and cannot be purchased individually.

They are being sold together at a combined selling price of ONLY R8,5 million (plus vat).
Combined Selling Price: R8,5 million (plus vat)

Address : 158 Point Rd & 5 Southampton Street, Point, Durban.

Site numbers: 25 & 16

Portion numbers: # 25 - Portion 235 of ref 10054
# 16 - Portion 225 of ref 10054

Address: # 25 - 6 Southampton Street, Durban Point.
#16 - 159 Mahatma Gandhi Road, Point, Durban.

Site Areas: # 25 - 366 sqm
# 16 - 371 sqm

Max FAR: # 25 - 8
# 16 - 8

Max Residential FAR: # 25 - 4
# 16 - 4

Max Bulk: # 25 - 2928 sqm
# 16 - 2968 sqm

Max Residential Bulk: # 25 - 1464 sqm
# 16 - 1484 sqm

Height limitations: # 25 - 110 meters
# 16 - 110 meters

Levies: NIL (freehold property)

Rates: # 25 - R 3,778.15
# 16 - R 4,794.83

Historical Building: #16 **

** (To be confirmed by AMAFA whether or not this building is deemed to have any historical significance)