DETAILS OF THE PROPERTY PORTFOLIO

   
Newpark currently holds a R1,41 billion portfolio, comprising two
prime commercial buildings in the Sandton CBD and two industrial
buildings in Linbro Business Park and Crown City, respectively,
and is looking to acquire further similar assets in pursuit of its
investment objectives.
Newpark is led by a team of individuals with significant experience
and successful track records in the property industry.
The company's independent property valuer is Peter Parfitt of
Quadrant Properties Proprietary Limited.

Governance structure

The governance structures are set out below.
Due to the size and maturity of the company, in the period under
review and for the current year, the board undertakes the role of
the nominations committee.
 

Lease expiry profile

Unaudited

GLA

TOTAL

Mixed use

Office

Industrial

Vacant 8 967.06 8 967.06 - -
Feb 2020 3 361.67 3 361.67 - -
Feb 2021 131.56 131.56 - -
Feb 2022 2 146.42 2 146.42 - -
Feb 2023 108.90 108.90 - -
Feb 2024 142.63 142.63 - -
> Feb 2024 42 157.00 42 157.00 18 163.00 23 664.00
         

Gross rental

TOTAL

Mixed use

Office

Industrial

Vacant 20 529 947.06 20 529 947.06 - -
Feb 2020 8 324 893 23 8 324 893 23 - -
Feb 2021 389 366.26 389 366.26 - -
Feb 2022 7 145 091.85 7 145 091.85 - -
Feb 2023 543 461.53 543 461.53 - -
Feb 2024 649 510.80 649 510.80 - -
> Feb 2024 84 530 827.20 84 530 827.20 56 434 282.63 26 991 801.96

 

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

722 000

24 Central

6 Gwen Lane, Sandown, Sandton, 2196

Mixed use (Mainly Office and Retail)

144.92

15 188.24

15.7

422 000

Linbro Business Park Portion 3 and 4 of Erf 9, Frankenwald Extension Industrial * 12 387.00 0.0 161 000
Crown Mines Erven 1 and 2 Crown City, Extension 1 Industrial * 11 277.00 0.0 102 000
             

Total

 

 

154.82 

57 015.24

15.7

1 407 000

* 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 2019 has been included in the weighted average rental per m2 for the group. The properties were valued at 28 February 2019 by Peter Parfitt of Quadrant Properties Proprietary Limited, 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 8.08% at 28 February 2019.

Sectoral Profile

  Based on GLA
%
Based on gross rental
%
Vacancy profile based on GLA
%
GLA
m2
Mixed use (office and retail) 26.6 31.7 15.7 15 188.2
Office 31.9 46.2 0.0 18 163.0
Industrial 41.5 22.1 0.0 23 664.0
  100.0 100.0 15.7 57 015.2
         
      GLA 
m2
Tenant profile based on GLA 
%
A     42 518.2 74.6
B     2 548.4 4.5
C     2 981.6 5.2
Vacant     8 967.1 15.7
      57 015.3 100.0
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 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 Boo! Media and Communications Proprietary Limited.