Portfolio 2018


DETAILS OF THE PROPERTY PORTFOLIO

Lease expiry profile

  Based on GLA % Based on gross rentals %
Vacant 11,2 10,9
Feb 2019 7,3 12,6
Feb 2020 4,8 4,6
Feb 2021 0,2 0,3
Feb 2022 3,1 6,1
Feb 2023 0,2 0,4
> Feb 2023 73,2 65,1
  100 100

 

Segmental analysis

The table below sets out the details of the properties within the property portfolio.

Property name

Physical address

Sector

Weighted average rental per m2
(R/m2)

Rentable area (GLA) m2

Vacancy (% of rentable area)

Valuation as at 28 February 2017
(R'000)

 

 

 

 

 

 

 

JSE Building

One Exchange Square, 2 Gwen Lane, Johannesburg, 2000

Office

*

18 163.00

0.00

672 000

24 Central

6 Gwen Lane, Sandown, Sandton, 2196

Mixed use (Mainly Office and Retail)

217.86

15 422.39

11.2

465 000

Linbro Business Park Portion 3 and 4 of Erf 9, Frankenwald Extension Industrial * 12 387.00 0.0 151 600
Crown Mines Erven 1 and 2 Crown City, Extension 1 Industrial * 11 277.00 0.0 93 000
             

Total

 

 

165.84 

57 249.39

11.2

1 381 600

* As the JSE building, Linbro Park and Crown Mines are single tenanted buildings in the property portfolio, the weighted average rental per m2 as at 28 February 2018 has been included in the weighted average rental per m2 for the group. The properties were valued at 28 February 2018 by Peter Parfitt who is an independent, registered professional valuer in terms of the Property Valuers Profession Act, No. 47 of 2000.

Other Information
The forward average annualised property yield was 8.20% at 28 February 2018.

Sectoral Profile

Based on GLA   Based on gross rental
Office 50%   Office 67%
Mixed Use 9%   Mixed Use 12%
Industrial 41%   Industrial 21%
         
Tenant Profile based on GLA   Vacancy profile based on gross rental
A 80%   Office 10,1%
B 4%   Mixed Use 0,8%
C 5%   Industrial 0,0%
Vacant 11%      
         
A-grade tenants include
Large international and national tenants, large listed tenants, government and major franchisees. These are the JSE Limited, Nedbank Limited, Saudi Arabian Airlines Inc, Vida E Café Proprietary Limited, Hellermann Tyton Proprietary Limited, Bidvest (Foods) Limited and MTN Limited.
 
B-grade tenants include
National tenants, smaller listed tenants, franchisees and medium to large professional firms. These are News Café, Motrade 169 Proprietary Limited (Koi) and Central Lake Trading 293 Proprietary Limited (Baron).
 
C-grade tenants include
Other local tenants and sole proprietors. These are TP South Africa Trading Proprietary Limited, Thirty Four Degrees South Marketing Proprietary Limited, Club Sublime CC (Taboo), Juju Lounge CC (Cocoon), Siminox Proprietary Limited, Rockets Express Proprietary Limited, ATM Solutions Proprietary Limited, and Barbalicious Hair and Beautiy CC.