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High Rise Office Towers Centrally located in Durban CBD
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for sale
Private Tender
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Location
Summary
- 33 Storey multi-tenant office tower with ground floor retail, 41,713 m² GLA
- Centrally located in Durban CBD
- Retail anchors Nandos, Thunder Peak Spur and Standard Bank
- Ethekwini Municipality occupies 4,800 m² of the total office GLA
Situation
Delta Towers is situated on the corner of Dr. Pixley Kaseme and Dorothy Nyembe Streets, located one block south of Monty Naicker Road in the CBD of Durban. The property is within walking distance of the required amenities and other main arterials which include Anton Lembede Street, Monty Naicker Road as well as the N3 highway. The city block is bounded by Doctor Pixley Kaseme Street, Dorothy Nyembe Street, Anton Lembede Street and Mercury Lane.
Description
Delta Towers is situated on the corner of Dr. Pixley Kaseme and Dorothy Nyembe Streets in the Durban CBD. The stand measures 7,666 m² in extent and is zoned Business. The building has a concrete structure with brick infill and drywalled internal layout. All floors are accessed by concrete staircases and various elevators forming part of the central services core. This high-rise building offers retail space on the ground floor with offices on the upper floors. There are 161 parking bays located in a multi-level basement. The building is also equipped with back-up power.
The retail unit’s range in size from approximately 10 m² to 700 m², anchored by Standard Bank, Nando’s and Thunder Peak Spur. In addition, there are numerous smaller convenience, fashion, retail and food outlets. The total retail component measures 4,231 m², with approximately 620 m² currently vacant.
The office accommodation on the upper floors is popular amongst a host of smaller SMME’s, large corporate companies and government tenants. The total office component measures 36,166 m², which accounts for 87% of the total GLA. The largest office tenants are Ethekwini Municipality (4,800 m²), Old Mutual Group Schemes Division (1,230 m²) and The United States of America (1,594 m²). 20,897 m² of the office GLA is currently vacant. There are a total of 842 parking bays of which 161 are leased to current tenants in the building and the balance is managed by Interpark.
Title and Zoning Description
Title Deed Information
- Title Deed Number: T32125/2014
- Legal Description: Erf 12578 Durban
- Registered Owner: Delta Property Fund Limited
- Local Authority: Municipality of Ethekwini
- Extent: 7,666 m²
Zoning Information
- Zoning: General Business
- Plot Area Ratio: 8.0 of which residential may be either 4.0 or 2.0 dependent on its locality in CBD
- Coverage: Not applicable
- Minimum Building Line: 4.5m from centre line of vehicular street or 2.0m from central line of non-vehicular street
- Max. Permitted Height: 59-degree angle from opposite side of street (max width 30m) or 110m with a 5.0m setback at 15.0m
- Permitted Uses: Business premises (excluding those referred to in Column 4), dwelling houses, domestic staff accommodation, residential building, shop, restaurant, fast food outlet, licensed hotel, place of assembly, place of amusement, institution, place of instruction, creche, industrial building (excluding those referred to in columns 4 and 5), social hall, totalisator depot.
Rentable Areas
| Description | Size (sqm) |
| Offices | 36,166.02 |
| Retail | 4,231.46 |
| Storerooms | 541.26 |
| Other units | 774.34 |
| Total | 41,713.08 |
Parking |
Bays |
| Basement | 842 |
| Total | 842 |
Tenancy
Anchor Tenants – Retail
Tenant: The Standard Bank of South Africa Limited
- Area: 496 m²
Tenant: Nandos Pixley
- Area: 705.84 m²
Tenant: Thunder Peak Spur
- Area: 544 m²
Anchor Tenants – Offices
Tenant: The United States of America
- Area: 1,593.60 m²
Tenant: NBCRFLI – 4600000175
- Area: 615.70 m²
Tenant: Chapman Dyer Incorporated
- Area: 615.70 m²
Tenant: PSA
- Area: 615 m²
Tenant: Old Mutual Group Schemes Division
- Area: 1,401.10 m²
Tenant: The Electoral Commission
- Area: 346.30 m²
Tenant: Lesotho Consulate
- Area: 347.30 m²
Tenant: Ethekwini Municipality
- Area: 4,800 m²
Tenant: ICASA
- Area: 518.85 m²
Tenant: Debtin Consultants (Pty) Ltd
- Area: 993.30 m²
Tenant: KZN Growth Fund Trust
- Area: 915.30 m²
Tenant: Nkosi Sabelo Incorporated
- Area: 860.40 m²
Forecasted Monthly Rates and Taxes Expenses
Current Rates and Taxes (Sept 2023)
R859 968,51
VAT
The Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.
Sales Process
This property is being sold by way of a Private Treaty process under a Sole Marketing Mandate with CBRE-X online.
Interested parties will have access to the Property Brochure and NDA on registration on the CBRE-X online website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
• The price offered.
• Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
• Conditionality of the offer and timeline to conclude the deal.
Disclaimer
The website provides information about properties but does not guarantee its accuracy. Users access the site at their own risk and should seek professional advice before making any decisions based on the information provided. Property descriptions are general and do not constitute an offer or contract. All details are believed to be correct but should be verified by users. The company and its employees do not make any representations or warranties regarding the properties. Prices quoted are exclusive of taxes. The information on the website may contain errors, omissions, or may change without notice. Users should conduct their own investigations before making any investment decisions. The information provided should not be considered financial or investment advice. Any information given by the company or the vendor is for illustration purposes only and does not constitute a representation, condition, or warranty. Users are responsible for conducting their own due diligence to verify the accuracy of the information provided.
Contacts
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CBRE Excellerate
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Disclaimer
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