Apartment building and shopping centre for sale in Pennington, close to the main beach.
Pennington Waves Mixed-Use Investment Property – For Sale
Pennington, KwaZulu-Natal, South Africa
An exceptional opportunity to acquire a well-established mixed-use investment property in the heart of Pennington on the KwaZulu-Natal South Coast. Pennington Waves combines residential accommodation with a fully occupied neighbourhood shopping centre, creating multiple income streams from both residential and commercial tenants. The complex is located approximately 300 metres from Pennington's main swimming beach and offers convenient access to local amenities and golf courses.
Residential Accommodation
The residential section comprises 15 fully self-catering apartments, all currently leased on long stay rental agreements, providing immediate and consistent rental income.
5 x Two-Bedroom Self-Catering Apartments
Spacious open-plan lounge and dining area
Fully fitted kitchen
Modern bathroom
Private balcony or patio (where applicable)
Secure parking
10 x Three-Bedroom Self-Catering Apartments
Three generous bedrooms
Two bathrooms
Fully equipped kitchens
Spacious living and dining areas
Secure covered parking
The apartments are designed for comfortable coastal living and are suitable for families, professionals and long-term tenants.
Shopping Centre
The ground-floor shopping centre serves both residents and the surrounding Pennington community, providing a strong commercial rental base. Existing businesses include:
OK Foods Grocery Store
OK Liquor Store
Pharmacy
Bookstore
Restaurant
Laundromat
Estate Agency Offices
Additional service and retail outlets
The combination of essential retail and service businesses creates steady customer traffic throughout the year.
Complex Features:
Established mixed-use development
Multiple residential and commercial income streams
Secure access-controlled property
Landscaped communal courtyard
Swimming pool
Braai (barbecue) facilities
Children's play area
Ample tenant and customer parking
Walking distance to Pennington Beach
Close to renowned golf courses and other South Coast attractions.
Investment Highlights:
Fully tenanted residential apartments with long-term leases.
Established commercial tenants providing diversified rental income.
Prime coastal location in the growing South Coast tourism and residential market.
Excellent opportunity for investors seeking stable cash flow with future capital appreciation.
Potential for further rental growth and value enhancement.
Property Summary:
Location: Pennington, KwaZulu-Natal
Property Type: Mixed-use Investment Property
Residential Units: 15
5 × Two-bedroom self-catering apartments
10 × Three-bedroom self-catering apartments
Commercial Component: Fully occupied shopping centre
Occupancy: Residential apartments currently let on long-term leases
Investment: Income-producing property with diversified residential and retail revenue.
Nett rental income currently: R200 000.00 after levies and rates are deducted.
This landmark coastal investment offers the rare combination of residential accommodation and an established retail centre in one of the KwaZulu-Natal South Coast's most desirable seaside communities, making it an attractive opportunity for investors seeking secure, diversified, income-generating real estate.
Call the agent for more information or viewings.
Pennington, KwaZulu-Natal, South Africa
An exceptional opportunity to acquire a well-established mixed-use investment property in the heart of Pennington on the KwaZulu-Natal South Coast. Pennington Waves combines residential accommodation with a fully occupied neighbourhood shopping centre, creating multiple income streams from both residential and commercial tenants. The complex is located approximately 300 metres from Pennington's main swimming beach and offers convenient access to local amenities and golf courses.
Residential Accommodation
The residential section comprises 15 fully self-catering apartments, all currently leased on long stay rental agreements, providing immediate and consistent rental income.
5 x Two-Bedroom Self-Catering Apartments
Spacious open-plan lounge and dining area
Fully fitted kitchen
Modern bathroom
Private balcony or patio (where applicable)
Secure parking
10 x Three-Bedroom Self-Catering Apartments
Three generous bedrooms
Two bathrooms
Fully equipped kitchens
Spacious living and dining areas
Secure covered parking
The apartments are designed for comfortable coastal living and are suitable for families, professionals and long-term tenants.
Shopping Centre
The ground-floor shopping centre serves both residents and the surrounding Pennington community, providing a strong commercial rental base. Existing businesses include:
OK Foods Grocery Store
OK Liquor Store
Pharmacy
Bookstore
Restaurant
Laundromat
Estate Agency Offices
Additional service and retail outlets
The combination of essential retail and service businesses creates steady customer traffic throughout the year.
Complex Features:
Established mixed-use development
Multiple residential and commercial income streams
Secure access-controlled property
Landscaped communal courtyard
Swimming pool
Braai (barbecue) facilities
Children's play area
Ample tenant and customer parking
Walking distance to Pennington Beach
Close to renowned golf courses and other South Coast attractions.
Investment Highlights:
Fully tenanted residential apartments with long-term leases.
Established commercial tenants providing diversified rental income.
Prime coastal location in the growing South Coast tourism and residential market.
Excellent opportunity for investors seeking stable cash flow with future capital appreciation.
Potential for further rental growth and value enhancement.
Property Summary:
Location: Pennington, KwaZulu-Natal
Property Type: Mixed-use Investment Property
Residential Units: 15
5 × Two-bedroom self-catering apartments
10 × Three-bedroom self-catering apartments
Commercial Component: Fully occupied shopping centre
Occupancy: Residential apartments currently let on long-term leases
Investment: Income-producing property with diversified residential and retail revenue.
Nett rental income currently: R200 000.00 after levies and rates are deducted.
This landmark coastal investment offers the rare combination of residential accommodation and an established retail centre in one of the KwaZulu-Natal South Coast's most desirable seaside communities, making it an attractive opportunity for investors seeking secure, diversified, income-generating real estate.
Call the agent for more information or viewings.
Monthly Levy
R51,372
Monthly Rates
R29,782
Total
R81,154
Features
Zoning
Interior
Sizes
Parking Bays
Additional Amenities
Listing Info
Disclaimer
While every effort will be made to ensure that the information contained within the REALGLEN Properties website is accurate and up to date, REALGLEN Properties makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.