Why should you invest in Pietermaritzburg?
Category Investment
Pietermaritzburg is the capital and second largest city in KwaZulu-Natal. It is also known as the "City of Flowers" for its captivating azaleas and roses. The city was founded in 1838, and is still home to many well-preserved late 19th-century government buildings, such as the historic Old Supreme Court building. Pietermaritzburg is a major producer of aluminium, timber, and dairy products making it a great place to invest in.
Investing in the city has a range of competitive advantages. Pietermaritzburg is the legislative and administrative capital of the province and is South Africa's most populace province. It is strategically located on the country's busiest highway, the N3 and is 45 minutes from the Durban Port and King Shaka International Airport. There are also seven direct flights a day between the city's Oribi Airport and Johannesburg International Airport. The excellent network of road, rail and air linkages assist in ensuring business ventures are successful in the city.
The city boasts a diverse economy and robust manufacturing sector. The economy excels in exports to diverse markets such as aluminium products, automotive components, flowers, and furniture. Reports show that since 2003 Pietermaritzburg has achieved unprecedented growth in economic activity, with business confidence being high, while property and retail sectors show growths by at least 30%.
Current economic activities in Pietermaritzburg include industrial, agriculture, business, and tourism. Recent developments include the Liberty Midlands Mall, the Golden Horse Casino and Hotel, Victoria Country Club Golf Estate and 'Motor City' - a zone of all the established motor dealerships.
This vibrant city has a proud sporting legacy and is widely known as the home of the Comrades Marathon, Midmar Mile, and the Duzi Canoe Marathon. These events along with attractions such as the Royal Agricultural Show, Art in the Park and Cars in the Park, make Pietermaritzburg a flourishing events city.
Here are three fantastic properties on the market in Pietermaritzburg:
881m² Office To Let in Central Town
Located in the heart of the Pietermaritzburg CBD, the MYK Family Trust unit is situated at 162 Pietermaritz Street and has numerous points of interest on hand, ie shopping, food, entertainment, sports and leisure also not forgetting transport. Priced at R160 per m², the gross monthly rental amounts to R140,960 Excl. VAT. The property also has air conditioning and security.
350m² Retail To Let in Central Town
This awesome property has an irregular shaped site with two road frontages; vehicular accesses off both roads. The site is level with good exposure and visibility onto two busy main roads in Pietermaritzburg. Situated at 255 Commercial Road, 711 Centre, Shop 5, the unit is fully secured and has air conditioning. Priced at just R95 per m² the gross monthly rental is R33,250 Excl. VAT and is available from 1 April 2019.
R70 per m² Retail Units To Let in Central Town
Situated on 230 Victoria Street, there are two great units to let at Hugo's at just R70 per m². Available immediately in 2,200m² at a gross monthly rental of R154,000 Excl. VAT or 1,953m² at a gross monthly rental of R136,710 Excl. VAT. The property is a large well located site with 48 metres of frontage and exposure onto a very busy main road.
Pietermaritzburg is a city of grandeur which appeals to both young and old. If you are keen on investing in this prosperous city, contact the Kamdar Group now. Our team of skilled and experienced agents are ready to help you find the best investment opportunity in the city.
Author: Kamdar Group
