Fourways Golf Park - 7 Juliet Close - Aucor
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Witkoppen Oak Hill Building – Prime Office Space in Corporate Park
Sandton GLA – ± 1,360.62m² (Seller Supplied)
Fourways Golf Park - 7 Juliet Close
Thursday, 20 February 2019 @ 12h00
Houghton Golf Club – Osborn Road, Houghton, Johannesburg
Warren Aronson | 082 529 1020 | WarrenA@aucor.com
Version 2: 3 February 2020 NdJ
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Index
Disclaimer, Auction Information and Terms & Conditions Page 3
Property Images Page 4
Executive Summary & Key Investment Highlights Page 6
General Information Page 7
Locality Information Page 8
Property Description Page 10
Projected Gross Annual Income Summary Page 13
Projected Gross Annual Income Page 14
Lease Summaries Page 17
Rates Statement Page 20
General Plan Diagram Page 22
/AucorProperty www.aucorproperty.co.za 2
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Disclaimer, Auction Information and
Terms & Conditions
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither Aucor Corporate (Pty)
Ltd T/A Aucor Property nor the Seller/s guarantee the correctness of the information provided herein and
neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any
person as a result of errors or omissions in the information provided, whether due to negligence or otherwise
of Aucor Corporate (Pty) Ltd T/A Aucor Property or the Seller/s or any other person.
________________________________________________________________________________________________________
Auction Information
Deposit 5% of the bid price
Commission 10% plus 15% VAT thereon of the bid price
Confirmation period 7 Business days
Rules of auction and conditions of sale are available at www.aucorproperty.co.za/
________________________________________________________________________________________________________
Terms & Conditions
R50 000 refundable deposit (strictly bank guaranteed cheque or cash transfer only). Bidders must provide
original proof of identity and residence on registration. No cash will be accepted at the auction. No
exceptions. All bids are exclusive of VAT. Aucor Property may bid up to reserve on behalf of the sellers.
Subject to change without notification. Auctioneer: Pieter Geldenhuys.
/AucorProperty www.aucorproperty.co.za 3
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Property Images
Aerial Images
Witkoppen Rd
/AucorProperty www.aucorproperty.co.za 4
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Property Images
/AucorProperty www.aucorproperty.co.za 5
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Executive Summary &
Key Investment Highlights
Street Address: Fourways Golf Park: 7 Juliet Close - Witkoppen, Sandton
GPS Coordinates: -26.0156, 28.0014
Registered Land Size: 2,424m²
Zoning: Special' - Awaiting zoning confirmation
Assessment Rates & Levies: R 45,297.35 / month - excluding consumption charges and city levies.
See from page 11 for full detalils
The improvements on the subject property comprise of a double-storey
Accommodation:
office building with a basement parking level covering the extent of
the building's S-shaped footprint.
Area Description Approx GBA (m²)
Ground floor 972
First-Floor 972
Total Gross Building Area 1 944
Areas not included in GBA
Approx. Total Gross Building Area:
Basement 972
Notes:
Gross Building Areas are an estimate based on a combination of on-
site and aerial photograph measurements taken along the outer
building walls and includes internal penetrations such as staircases
and platforms, passageways, voids, etc. but excludes balconies.
Area Description Approx GLA (m²)
Office (Ground floor) 647
Office (First-Floor) 659
Storerooms (Basement) 55
Total Gross Lettable Area 1 361
Approx. Total Gross Lettable Area:
Areas not included in GLA
Basement 972
Notes:
1. Gross Lettable Areas are as supplied by the Seller and have been
verified to the Tenancy Schedule.
The property is fully let with long-term lease agreements in place. See
Occupation:
from page 13 for details.
Fully let office building in sought-after corporate park known as
Fourways Gold Park with strong income generating capacity.
Projected Gross Annual Income of ± R 2,3mil. per annum (office,
parking and storage rentals only).
Advantageously located in the vibrant economic hub of Fourways
(Witkoppen) with ease of access to Cedar Road and Witkoppen Road
Key Investment Highlights:
- both of which are major throughfares through the greater Fourways
area.
The prime location in the centre of Fourways allows ease of access to
service offerings including Fourways Mall, Cedar Square, Montecasino,
Fourways Crossing and Life Fourways Hospital, to name a few, all in
very close proximity to the subject property.
By bidding on this property, the purchaser acknowledges that he has acquainted himself with the extent and
the nature of the property he is buying, and that he accepts the property as such.
/AucorProperty www.aucorproperty.co.za 6
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
General Information
Street Address Fourways Golf Park: 7 Juliet Close - Witkoppen, Sandton
GPS Coordinates -26.0156, 28.0014
________________________________________________________________________________________________________
Title Deed Information
Title Deed Number T99089/2016
Registered Owner Cumulative (Pty) Ltd
Title Deed Description Portion 2 of Erf 1213, Witkoppen Extension 54
Registered Land Size 2,424m²
Title Deed Conditions A copy of the title deed is on hand and will be made available
upon request thereof.
Servitudes The erf is subject to the following servitudes
- a servitude 2m wide in favour of the Local Authority for
sewerage and other municipal purposes, along any two
boundaries other than a street boundary;
- Notarial Deeds of Servitude for Eskom purposes (No.
K7070/2000S) and municipal purposes (K7069/2000S)
- By Notarial Deed of Servitude (7069/1997S) a servitude (in
favour of the Fourways Golf Park Property Owner's Association)
for access purposes.
________________________________________________________________________________________________________
Municipality Information
Municipality City of Johannesburg Metropolitan Municipality
Rates & Levies Excluding consumption charges and city levies. Based on the
Tax Invoice as issued by Council for the January 2020 billing
period and additional seller supplied information - see a copy of
the invoice attached to this brochure for these and other
charges.
Municipal Rates 2019 / 2020 2019 / 20 Annual 2019 / 2020 Monthly
Exclusion Rebate
Valuation Category Tariff Rates Rates (Annual ÷12)
R 15 840 000 Business N/A N/A 0,0201470 R 319 128,48 R 26 594,04
Corporate Park Lev ies payable / month* R 18 703,30
Total Rates & Levies payable / month R 45 297,34
*Note:
The Corporate Levy included is as per the Seller supplied income and expenses statement for the November 2019 billing
period and is included as a guideline for indicative purposes only. A copy of the Levy Statement has been requested and
the actual charges will be verified and made available upon our receipt thereof.
________________________________________________________________________________________________________
Zoning Information
Zoning "Special" - Awaiting zoning confirmation
/AucorProperty www.aucorproperty.co.za 7
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Locality Information
Macro Locality
The subject property is situated in the sought-after office park known as Fourways Golf Park in the heart of
an established suburb of Fourways, known as Witkoppen. Witkoppen, as well as the broader Fourways area,
is a fast developing commercial and residential hub in the north of Johannesburg. The main access routes
to Fourways are off the N1-highway at the R511/William Nicol Drive, or alternatively along the
R564/Witkoppen Road. Although Fourways is constantly abuzz with activity, its position on the outskirts of the
metropolis makes it a gateway to the countryside, abundant with rolling hills and game parks to enjoy both
the urban offerings and wildlife attractions of Johannesburg. Fourways is bordered by Bryanston to the east
and south, while Randburg lies to the west. Additionally, Fourways is conveniently located near Sandton,
which is considered the financial hub of South Africa. The subject property is easily accessed by means of a
number of major and secondary routes, being advantageously located between Cedar Road and William
Nicol Drive and in very close proximity to Cedar Square, Fourways Mall, Montecasino and Fourways
Crossing. GPS coordinates for the sites are as follows: -26.0156, 28.0014
Witkoppen
Lone Hill
Fourways
Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe
/AucorProperty www.aucorproperty.co.za 8
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Locality
Locality
Information Information
Micro Locality
standard bank logo
Fourways
Roospark AH
Fourways Golf Park
Entrance to
Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe
Pine Slopes AH
/AucorProperty www.aucorproperty.co.za 9
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Property Description
Approximate Boundaries
N
Image Data: City of Joburg GIS MapViewer
/AucorProperty www.aucorproperty.co.za 10Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Property Description
Accommodation The improvements on the subject property comprise of a double-storey office
building with a basement parking level covering the extent of the building's S-
shaped footprint.
The two (2) floors feature a replicated floorplan that currently accommodates a
single tenant per floor. The main entrance is access-controlled and opens onto a
core platform that provides a secondary access-controlled entrance to the
ground floor office, as well as hosts the staircase leading directly to the access-
controlled entrance door of the first-floor office. Each platform includes separate
male and female ablution facilities.
The offices feature similar open floor plans that has been configured to the
respective tenants’ requirements, but generally feature a lobby / reception area
with the remaining extents (located either side of the reception areas) configured
into offices, boardrooms and/or storerooms of varying size and configuration –
mostly by means of glass and drywalled partitioning. Each office includes their own
kitchen.
The parking basement is access controlled with access internally from the ground
floor platform area, as well as externally from the western side of the building via
large steel gates.
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Additional features The building boasts the following additional features:
• Ample open and basement parking
• Wheelchair-friendly ramp to main entrance door
• Quality wood finishes and decorative trimmings lining the interior
• Quality safety and security system including access control, cameras and
alarm systems
• Split-unit air-conditioning throughout
• The floors feature either a covered balcony or patio with tranquil views of, and
access to the golf course
• The first-floor office features an upstairs loft constructed of wood support
beams, utilized as an archive store
• Located in a secure office park with guarded entrance gate situated in Roos
Street
• Common use female and male ablutions on the landing platform of each floor
• Four (4) lettable storerooms in the basement
• Fire protection installations comprising of fire hoses and extinguishers.
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Construction The building is constructed of exposed face brick and rock tiled cladding along
the basement area. It includes decorative concrete columns and inserts along the
facades of the building exterior. The building has been finished with a pitch-styled
roof constructed of terracotta tiling.
/AucorProperty www.aucorproperty.co.za 11Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Property Description
Fixtures and Finishes The offices have been finished with quality finishes and fittings according to tenant
specifications and requirements. It predominantly features a combination of
ceramic tiled, carpeted and laminated wood floors with internal portioning being
configured by way of glass and drywalling, allowing for simple reconfiguration of
each floor as and when required.
Walls are rendered and painted, fitted with various decorative wallpaper, under a
combination of rhino-lite and suspended ceiling boards.
________________________________________________________________________________________________________
Utilities It appears that each office section is separately metered for water, electricity and
sewerage with consumption charges recovered on a monthly basis from the
respective tenants.
________________________________________________________________________________________________________
Gross Building Areas Area Description Approx GBA (m²)
Ground floor 972
First-Floor 972
Total Gross Building Area 1 944
Areas not included in GBA
Basement 972
Notes:
Gross Building Areas are an estimate based on a combination of on-
site and aerial photograph measurements taken along the outer
building walls and includes internal penetrations such as staircases
and platforms, passageways, voids, etc. but excludes balconies.
________________________________________________________________________________________________________
Approx GLA (m²)
Gross Lettable Areas Area Description
Office (Ground floor) 647
Office (First-Floor) 659
Storerooms (Basement) 55
Total Gross Lettable Area 1 361
Areas not included in GLA
Basement 972
Notes:
1. Gross Lettable Areas are as supplied by the Seller and have been
verified to the Tenancy Schedule.
________________________________________________________________________________________________________
Parking 32 x Basement parking; ±18 x open parking; ±18 x shade-net parking
Total Designated Parking Bays: 68 bays.
________________________________________________________________________________________________________
Occupation The property is fully let with long-term lease agreements in place. See from page 13
for details.
________________________________________________________________________________________________________
Condition The property is very well-maintained and is regarded to be in great condition and
offers excellent curb appeal. We have not undertaken a structural survey of the
buildings nor have we arranged for tests or inspections of the service installations,
but these appear to be in working order.
By bidding on this property, the purchaser acknowledges that he has acquainted himself with the
extent and the nature of the property he is buying and that he accepts the property as such.
/AucorProperty www.aucorproperty.co.za 12Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Projected Gross Annual Income -
Summary
BASIC RENT
Approx. Area
Unit Item / Tenant Start Date Expiry Date Esc Basic Rent Total
Let
Offices
Ptn North 325
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 105,45 R 886 259
Ptn South 322
01 Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 130,00 659 R 1 117 685
1 306 R 2 003 944
Open parking
Pam Golding Properties (Pty) Ltd 2018/03/01 2023/01/31 7% R 240,75 19 R 59 419
R 59 419
Shade-net parking
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 347,75 5 R 22 586
Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 375,00 8 R 39 139
R 61 725
Basement Parking
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 406,60 9 R 47 535
Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 600,00 20 R 156 557
R 204 092
Storerooms
1A Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 50,82 9,33 R 6 185
1B Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R - 17,98 R -
1D Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 52,74 17,98 R 12 371
1E Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R - 9,33 R -
54,62 R 18 556
Potential Gross Annual Income R 2 347 736
Office Rental - Total R 2 003 944,20
Parking Rental - Total R 325 235,48
Storage Rental - Total R 18 556,42
Tenancy Summary
Occupied Lettable Area 1 361
Vacant Lettable Area 0
Total GLA 1 361
Total Projected Gross Annual Income R 2 347 736,10
Notes/Assumptions
1. Based on the relevant Lease Agreements as well as the Tenancy Schedule as supplied by the Seller for the December
2019 billing period.
2. All rental information presented above is exclusive of VAT.
3. Rental Information excludes utilities, recoveries, balances brought forward, deposit charges and similar once-off and
variable items billed during this period.
4. Utilities such as water, electricity and sewerage appear to be seperately metered for each unit and recovered on a
monthly basis.
5. It appears from the Seller supplied Tenancy Schedule (December 2019) that the office rental will not be increased in line
with the Lease Agreement from 1 February 2020. The indicated rental amount appears lower than the projected
increased rental amount. Any agreements between the Seller and the Tenant confirming such have been requested and
will be made available upon our receipt thereof. For the purposes of this projection, the projected / agreed rental as per
the Tenancy Schedule has been included.
Special Note - The rental information in this brochure is not intended to constitute specific advice nor to substitute for a due
diligence exercise, and accordingly should not be relied upon to make a purchase decision. Prospective purchasers should Date : 28
make their own enquiries and investigation to confirm pertinent information and forecasts, and should further seek January 2020
appropriate independent professional advice in relation thereto from suitably qualified professionals to complete their own E & OE
due diligence in relation to the Property.
/AucorProperty www.aucorproperty.co.za 13BASIC RENT
Approx. Area
Unit Item / Tenant Start Date Expiry Date Esc Basic Rent Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Total
Let
Offices
Ptn North 325
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 105,45 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 73 003 R 78 113 R 78 113 R 886 259
Ptn South 322
01 Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 130,00 659 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 92 524 R 99 925 R 1 117 685
1 306 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 165 527 R 170 637 R 178 039 R 2 003 944
Open parking
Pam Golding Properties (Pty) Ltd 2018/03/01 2023/01/31 7% R 240,75 19 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 5 237 R 5 237 R 59 419
R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 4 894 R 5 237 R 5 237 R 59 419
Shade-net parking
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 347,75 5 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 860 R 1 991 R 1 991 R 22 586
Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 375,00 8 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 240 R 3 499 R 39 139
/AucorProperty
R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 100 R 5 231 R 5 490 R 61 725
Basement Parking
Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R 406,60 9 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 3 916 R 4 190 R 4 190 R 47 535
Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 600,00 20 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 12 960 R 13 997 R 156 557
R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 16 876 R 17 150 R 18 186 R 204 092
Storerooms
1A Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 50,82 9,33 R 512 R 512 R 512 R 512 R 512 R 512 R 512 R 512 R 512 R 512 R 512 R 553 R 6 185
1B Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R - 17,98 R - R - R - R - R - R - R - R - R - R - R - R - R -
1D Magotteaux (Pty) Ltd 2016/03/01 2024/02/29 8% R 52,74 17,98 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 024 R 1 106 R 12 371
1E Pam Golding Properties (Pty) Ltd 2018/02/01 2023/01/31 7% R - 9,33 R - R - R - R - R - R - R - R - R - R - R - R - R -
54,62 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 536 R 1 659 R 18 556
Potential Gross Annual Income R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 193 933 R 199 791 R 208 611 R 2 347 736
Office Rental - Total R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 165 526,82 R 170 637,05 R 178 038,94 R 2 003 944,20
Parking Rental - Total R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 26 870,47 R 27 617,40 R 28 913,40 R 325 235,48
Storage Rental - Total R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 536,13 R 1 659,02 R 18 556,42
Tenancy Summary
Occupied Lettable Area 1 361
Vacant Lettable Area 0
Total GLA 1 361
Total Projected Gross Annual Income R 2 347 736,10
Notes/Assumptions
1. Based on the relevant Lease Agreements as well as the Tenancy Schedule as supplied by the Seller for the December 2019 billing period.
2. All rental information presented above is exclusive of VAT.
Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
3. Rental Information excludes utilities, recoveries, balances brought forward, deposit charges and similar once-off and variable items billed during this period.
4. Utilities such as water, electricity and sewerage appear to be seperately metered for each unit and recovered on a monthly basis. Date:
www.aucorproperty.co.za
5. It appears from the Seller supplied Tenancy Schedule (December 2019) that the office rental will not be increased in line with the Lease Agreement from 1 February 2020. The indicated rental amount appears lower than the projected increased rental amount. Any agreements between the Seller and the Tenant
2020/01/28
confirming such have been requested and will be made available upon our receipt thereof. For the purposes of this projection, the projected / agreed rental as per the Tenancy Schedule has been included.
Special Note - The rental information in this brochure is not intended to constitute specific advice nor to substitute for a due diligence exercise, and accordingly should not be relied upon to make a purchase decision. Prospective purchasers should make their own enquiries and investigation to confirm pertinent E & OE
information and forecasts, and should further seek appropriate independent professional advice in relation thereto from suitably qualified professionals to complete their own due diligence in relation to the Property.
Projected Gross Annual Income
14Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Lease Summaries
These lease summaries should not be relied upon in isolation and should be read in conjunction with the executed lease
documents, copies of which are on hand and will be made available to bona fide prospective purchasers upon request.
________________________________________________________________________________________________________
Lease 1
Tenant Pam Golding Properties (Pty) Ltd
Rentable Area Ptn North Offices - ±322m²; and Ptn South Offices - ±325m²
Total Lettable Office Area: 647m²
Storage area 1B - ±17.98m²; and Storage area 1E - ±9.33m²
Total Lettable Storage Area: 27.31m²
Basement Parking Bays – 9; Shaded Parking Bays – 5; Open Parking Bays - 19
Total Parking: 33
Start Date 1 February 2018 (Beneficial occupation 1 Nov. ’17 – 31 Jan. ’18)
Expiry Date 31 January 2023
Renewal Period Not specified**
Tenant’s Pro Rata Share 49.56%
Escalation Rate 7% per annum (rental & parking)
Monthly Rental (excl VAT)* Office Rental
From To Area (m²) Basic Rental Gross Rate / m²
2019/02/01 2020/01/31 R 70 227,31 R 108,54
2020/02/01 2021/01/31 R 75 143,22 R 116,14
647
2021/02/01 2022/01/31 R 80 403,25 R 124,27
2022/02/01 2023/01/31 R 86 031,47 R 132,97
Basement Parking Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/02/01 2020/01/31 R 3 659,40 R 406,60
2020/02/01 2021/01/31 R 3 915,56 R 435,06
9
2021/02/01 2022/01/31 R 4 189,65 R 465,52
2022/02/01 2023/01/31 R 4 482,92 R 498,10
Shaded Parking Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/02/01 2020/01/31 R 1 738,75 R 347,75
2020/02/01 2021/01/31 R 1 860,46 R 372,09
5
2021/02/01 2022/01/31 R 1 990,69 R 398,14
2022/02/01 2023/01/31 R 2 130,04 R 426,01
Open Parking Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/02/01 2020/01/31 R 4 574,25 R 240,75
2020/02/01 2021/01/31 R 4 894,45 R 257,60
19
2021/02/01 2022/01/31 R 5 237,06 R 275,63
2022/02/01 2023/01/31 R 5 603,65 R 294,93
Additional Charges See *Note 1 under “General Notes”
Key Clauses See **Note 2 under “General Notes”
Clause 12 (Schedule) – The leased premises shall be used solely for the purposes
of Corporate Offices.
Notes 1. It is understood that the storage areas assigned to the tenant are included in the rental,
as no specific reference to the rental terms thereof is included in the relevant lease
agreement and/or tenancy schedule.
2. It appears from the Seller supplied Tenancy Schedule (December 2019) that the office
rental will not be increased in line with the Lease Agreement from 1 February 2020. The
indicated rental amount appears lower than the projected increased rental amount. Any
agreements between the Seller and the Tenant confirming such have been requested and
will be made available upon our receipt thereof.
/AucorProperty www.aucorproperty.co.za 15Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Lease Summaries
Lease 2
Tenant Magotteaux (Pty) Ltd.
Rentable Area Offices 01 - ±659m²;
Storeroom 1A - ±9.33m²; and Storeroom 1D - ±17.98m²
Total Lettable Storage Area: 27.31m²
Basement Parking Bays – 20; and Shaded Parking Bays – 8
Total Parking: 28
Start Date 1 March 2019
Expiry Date 29 February 2024
Renewal Period Not specified**
Tenant’s Pro Rata Share 50.44%
Escalation Rate 8% per annum (rental & parking)
Monthly Rental (excl VAT)* Office Rental
From To Area (m²) Basic Rental Gross Rate / m²
2019/03/01 2020/02/29 R 85 670,00 R 130,00
2020/03/01 2021/02/28 R 92 523,60 R 140,40
2021/03/01 2022/02/28 659 R 99 925,49 R 151,63
2022/03/01 2023/02/28 R 107 919,53 R 163,76
2013/03/01 2024/02/29 R 116 553,09 R 176,86
Storeroom 1A Rental
From To Area (m²) Basic Rental Gross Rate / m²
2019/03/01 2020/02/29 R 474,11 R 50,82
2020/03/01 2021/02/28 R 512,04 R 54,88
2021/03/01 2022/02/28 9,33 R 553,00 R 59,27
2022/03/01 2023/02/28 R 597,24 R 64,01
2013/03/01 2024/02/29 R 645,02 R 69,13
Storeroom 1B Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/03/01 2020/02/29 R 948,23 R 52,74
2020/03/01 2021/02/28 R 1 024,09 R 56,96
2021/03/01 2022/02/28 17,98 R 1 106,02 R 61,51
2022/03/01 2023/02/28 R 1 194,50 R 66,43
2013/03/01 2024/02/29 R 1 290,06 R 71,75
Basement Parking Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/03/01 2020/02/29 R 12 000,00 R 600,00
2020/03/01 2021/02/28 R 12 960,00 R 648,00
2021/03/01 2022/02/28 20 R 13 996,80 R 699,84
2022/03/01 2023/02/28 R 15 116,54 R 755,83
2013/03/01 2024/02/29 R 16 325,87 R 816,29
Shaded Parking Rental
Gross Rate /
From To No. of Bays Basic Rental parking
2019/03/01 2020/02/29 R 3 000,00 R 375,00
2020/03/01 2021/02/28 R 3 240,00 R 405,00
2021/03/01 2022/02/28 8 R 3 499,20 R 437,40
2022/03/01 2023/02/28 R 3 779,14 R 472,39
2013/03/01 2024/02/29 R 4 081,47 R 510,18
Additional Charges See *Note 1 under “General Notes”
Key Clauses See **Note 2 under “General Notes”
Clause 12 (Schedule) – The leased premises shall be used solely for the purposes
of Administration Offices for Mining Engineering.
/AucorProperty www.aucorproperty.co.za 16Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Lease Summaries
General Notes
Where indicated, the lease agreements are similarly subject to the following key clauses and charges, as
included in the relevant lease agreements, unless otherwise stated in the different summaries:
_______________________________________________________________________________________________________
*Note 1:
Other Charges All tenants shall contribute towards the municipal and utility charges levied
upon the building and site at the relevant proportionate share including
assessment rates, refuse, sanitation, other municipal and improvement levies,
and utility charges, as well as any charges arising out of the use of electricity,
water and gas consumed by the tenant in or on the leased premises.
**Note 2:
Key Clauses Clause 25.1 – “Should the landlord sell the property… this lease shall continue
in full force and effect” and Clause 25.2 – “At the sole and exclusive election
of the landlord, should the property of which premises form part be sold, the
landlord shall have the right to cancel this agreement by giving the tenant 6
(six) months written notice…”
*Clause 4.6 – Should the tenant remain in occupation of the Leased premises
after expiry and without a new Lease Agreement, either party can cancel
the lease by providing one calendar month’s written notice. Monthly rentals
and operating costs will escalate by 20% annually, or until a new lease
agreement has been entered into.
Clause 14.5 – “On expiry or early termination of the lease, whether or not
electrical or other alterations have been made, the tenant shall at its cost
furnish to the landlord…an up to date Electrical Compliance Certificate”
/AucorProperty www.aucorproperty.co.za 17Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton
Rates Statement
January 2020 Billing Period
/AucorProperty www.aucorproperty.co.za 18Fully Tenanted Office Building in Corporate Park – Witkoppen, Sandton
Rates Statement
January 2020 Billing Period
/AucorProperty www.aucorproperty.co.za 19Fully Tenanted Office Building in Corporate Park – Witkoppen, Sandton
General Plan Diagram
S.G. No. 6550/1999
Rates Statement
/AucorProperty www.aucorproperty.co.za 20CCMA Place Office Building with Upside Potential – Benoni,
Ekurhuleni
/AucorProperty www.aucorproperty.co.za 21You can also read
