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Jul 07, 2008:
A prominent building in Durban's CBD has changed hands for R10m.
The four-storey building, situated at 21 Aliwal Street, was bought by the Regent Business School, which will move its higher education tuition business into the premises towards the end of this month.
The property has about 30 parking bays on the ground floor.
Sam Dabideen of MaxProp said the sale was another indication that there was lots of life in the commercial and industrial sector in Greater Durban.
"This is not a once-off. Other deals are in the pipeline and, in contrast to the residential scene, there are no signs yet of a serious downturn in the commercial/industrial sector," said Dabideen.
The move to Aliwal Street from 300 West Street by the Regent Business School creates something of a higher education hub in that part of the city with Mancosa situated in a multi-storey building on the opposite side of the street.
Ahmed Shaikh of Regent said they were excited about the move of their business school.
"We have placed our faith in Durban's CBD based on a variety of factors which include the high priority given to the area by the Ethekwini Municipality and the relatively easy access into and out of the city via the main arterial roads. This is vital for our students and other stakeholders. Importantly, our new premises will draw on the location benefits of the expanded Point Development plans of the city."
For more information contact Sam Dabideen on 031 251 7300.
