COMMERCIAL PROPERTY REPORT May 2014
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COMMERCIAL PROPERTY REPORT May 2014 This report highlights property transactions with a value of more than R5million that have occurred since January 2012 and should be viewed in conjunction with the Property section in www.co.za which carries all the transactions in a spatial environment. SA Revealed has taken every care in compiling information and material for this report, but will not be held responsible for any loss, damage or inconvenience caused as a result of any inaccuracy or error contained in this report Tel: +27 11 463 6327Fax: +27 11 706 1804www.co.za Moraine House, The Braes,193 Bryanston Drive Bryanston, Johannesburg, South Africa SA Revealed (Pty) Ltd Registration Number 2011/112308/07 OVERVIEW OF REPORT AND WEBSITE This COMMERCIAL PROPERTY REPORT and the PROPERTY section of the SA Revealed website www.co.za should be used in conjunction, and provides a comprehensive view of the Commercial Property environment in South Africa EVERYTHING IN THE REPORT CAN BE EXAMINED IN DETAIL ON THE WEBSITE The website is updated by the fifth of every month and the report is published by the tenth of the month. The updates are governed by the feed date of the transactions from the Deeds Office The segmentation of location ³Node´ and buyer ³Owner´ are reflected in the Report and can be viewed by selection on the Website Large Transactions and Large Bonds ±These sections of the website focus on data from January 2013, where the property owner is a non-person, and the purchase or bond value is greater than R5million. The detail of the individual transactions can be seen on the map on the, whilst aggregation allows for the information to be reflected in the report. Filters can be used to view the data on the website. We have not removed related transactions (eg. portfolio consolidation within related companies) and this could have an impact on overall number Listed Property ±This section covers all properties owned by listed property companies Cadastral ±This layer shows the property boundaries of properties in the country, described by the property description. By searching for a property in this section, the property can be identified and Google aerial photography, and Street View can be used to view the property. We will shortly link ownership information to this section Investment Heat Map ±There are three levels of information shown as hexagon layers. The layers open at different zoom levels. The full view of South Africa shows the large hexagons of around 288km2 in area, the medium hexagons show an area of around 6.5km2, and the small hexagon layer an area of 1.6km2. Each hexagon carries a ranking in accordance with the relative level of investment in that hexagon (1 being the highest level) 2 1 May 2014 Summary The data reflects transactions over R5million that were processed through the Deeds Office from January 2012, showing transactions for the month of May 2014, the cumulative position for the current year, and the full view for 2012. 1.1 Executive Summary The following are the highlights for May 2014: .A low month of Deeds Office transactions which is due to previous months being high due to related transactions Total lending is also lower than previous months with Nedbank significantly higher and FNB much lower, which included a significant loan for a retail devlopment in Mthatha Large shopping development in Mthatha Top areas over past 14 months (based on small hexagon layer - the Hexagon ID is shown below and can be Searched on the map): Description ID Investment Johannesburg - Central Sandton 633121 6,469,877 Port Elizabeth - Bay West area in Port Elizabeth 16133 2,260,000 Pretoria - Central Pretoria CBD 656149 2,209,995 Johannesburg - Fourways 638807 2,106,214 Johannesburg - North Western Sandton 633119 1,819,162 Mthatha 175616 1,210,713 Cape Town - East Cape Town CBD and Woodstock 16169 1,202,909 Johannesburg - Parktown 630265 1,133,761 Johannesburg - CBD/Braamfontein 625980 1,117,189 Pretoria - Eastern Pretoria CBD 656151 1,098,343 3 1.2 Owner Segment The transactional activity is broken into the following Owner segments (Rand Mill): Owner Segment 2012 2013 2014 May 2014 COMMERCIAL 39,837 54.9% 49,840 53.5% 20,034 45.2% 4,025 61.5% LISTED PROP COMP 11,749 16.2% 18,841 20.2% 11,511 26.0% 478 7.3% TRUST 9,742 13.4% 11,519 12.4% 5,107 11.5% 997 15.2% EMERGING PORTFOLIO 536 0.7% 2,536 2.7% 4,369 9.8% 358 5.5% GOVERNMENT 4,308 5.9% 5,702 6.1% 1,407 3.2% 419 6.4% RESIDENTIAL DEVELOPMENT 1,103 1.5% 1,614 1.7% 793 1.8% 164 2.5% BANK 3,665 5.0% 1,961 2.1% 446 1.0% 8 0.1% MINES 1,257 1.7% 784 0.8% 363 0.8% 76 1.2% INVESTMENT 154 0.2% 134 0.1% 155 0.4% 0 0.0% CHURCH/EDUCATION 201 0.3% 97 0.1% 142 0.3% 10 0.1% STUDENT ACCOMMODATION 24 0.0% 65 0.1% 32 0.1% 11 0.2% Total 72,575 93,093 44,358 6,545 Table 1: 2014 Transactions by Owner Segment Over time, as the companies are being researched and classified into the appropriate owner segments, the Commercial Segment will reduce and the Second Tier and Residential Development segments will increase. 4 1.3 Market Share The bonds taken out for the period, in terms of values (Rand Mill) and volumes: 1.3.1 Value 2012 2013 2014 May 2014 ABSA 6,116 7,871 3,606 747 BIDVEST 56 44 89 21 FIRSTRAND 15,086 13,025 4,758 599 GRINDROD 131 752 346 41 INVESTEC 15,788 15,566 10,889 1,588 NEDBANK 18,700 33,616 12,310 3,050 STANDARD 14,330 13,243 5,145 1,545 TUHF 179 398 147 8 Total 70,386 84,515 37,290 7,599 5 1.3.1 Value (Continued) The following table shows the bond values (Rand Mill) for the different bond sizes: Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF A: R5 mill - R10 mill 2012 1,590 18 2,116 32 1,131 1,808 1,336 23 2013 2,122 14 2,541 40 1,325 2,269 1,346 53 2014 909 11 966 13 543 1,047 603 44 May 2014 196 6 223 8 110 287 108 8 B: R10 mill - R50 mill 2012 2,496 38 4,064 40 4,831 6,117 2,951 156 2013 2,844 30 4,426 430 6,113 8,171 3,300 345 2014 1,518 78 1,413 73 2,575 3,555 1,384 48 May 2014 257 15 256 33 553 990 160 0 C: R50 mill - R100 mill 2012 392 0 1,839 59 2,654 3,002 1,585 0 2013 1,285 0 1,433 282 3,364 5,654 2,017 0 2014 165 0 390 0 1,341 2,596 1,300 55 May 2014 100 0 120 0 195 1,177 437 0 D: Above R100 mill 2012 1,638 0 7,067 0 7,172 7,773 8,458 0 2013 1,620 0 4,625 0 4,764 17,522 6,580 0 2014 1,014 0 1,989 260 6,430 5,112 1,858 0 May 2014 194 0 0 0 730 596 840 0 6 1.3.2 Volume 2012 2013 2014 May 2014 ABSA 372 487 213 43 BIDVEST 3 3 5 2 FIRSTRAND 545 625 218 44 GRINDROD 9 25 7 3 INVESTEC 429 526 236 49 NEDBANK 600 802 356 94 STANDARD 374 403 174 34 TUHF 12 26 10 1 Total 2,344 2,897 1,219 270 7 1.3.1 Value (Continued) Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF A: R5 mill - R10 mill 2012 225 2 303 5 156 256 193 3 2013 303 2 360 5 186 318 194 8 2014 128 2 134 2 81 142 86 7 May 2014 28 1 30 1 17 37 16 1 B: R10 mill - R50 mill 2012 134 1 191 3 203 271 138 9 2013 159 1 232 16 266 356 154 18 2014 78 3 74 4 113 155 60 2 May 2014 13 1 12 2 24 39 9 0 C: R50 mill - R100 mill 2012 6 0 26 1 37 41 21 0 2013 18 0 19 4 49 74 27 0 2014 2 0 6 0 18 33 18 1 May 2014 1 0 2 0 3 15 6 0 D: Above R100 mill 2012 7 0 25 0 33 32 22 0 2013 7 0 14 0 25 54 28 0 2014 5 0 4 1 24 26 10 0 May 2014 1 0 0 0 5 3 3 0 8 1.4 Highest Transactions and Bonds Nationally, the top 10 transactions were: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 390,750,000 K2012150042 SOUTH AFRICA PTY LTD OLD MUTUAL LIFE ASSURANCE MILNERTON~27306~00000 MARCONI BEAM CAPE TOWN - TABLE CO SOUTH AFRICA LTD INDUSTRIAL VIEW MILNERTON~30355~00000 MARCONI BEAM CAPE TOWN - TABLE INDUSTRIAL VIEW 2 205,325,528 REIT INVESTMENTS LTD HBW GROUP PTY LTD WELKOM BLOEM~165~00000 WELKOM CENTRAL WELKOM BLOEM~165~00004 WELKOM CENTRAL 3 200,000,000 MOLTENO BROTHERS PTY LTD MOLTENO BROTHERS TRUST CALEDON RD~286~00004 CAPE TOWN - SOMERSET WEST CALEDON RD~286~00012 CAPE TOWN - SOMERSET WEST CALEDON RD~287~00007 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00024 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00035 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00038 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00066 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00067 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00088 CAPE TOWN - SOMERSET WEST CALEDON RD~319~00092 CAPE TOWN - SOMERSET WEST MORE PROPERTIES ON TITLE DEED 4 162,507,369 HBW GROUP PTY LTD FEROX INVESTMENTS PTY LTD WELKOM BLOEM~165~00000 WELKOM CENTRAL WELKOM BLOEM~165~00004 WELKOM CENTRAL 5 118,000,000 DELTA PROPERTY FUND LIMITED SWISH PROPERTY EIGHT PTY DURBAN~11355~00000 SOUTH BEACH DURBAN - CENTRAL LTD 6 115,350,000 INVESTEC PROP FUND LTD SAMURAI SUN PROP PTY LTD WATERKLOOF GLEN~853~00000 WATERKLOOF GLEN PRETORIA - EAST 7 110,253,639 REIT INV LTD H B W GROUP PTY LTD IR~63~00353 MEADOWBROOK EKURHULENI - BOKSBURG IR~63~00467 MEADOWBROOK EKURHULENI - BOKSBURG IR~63~00575 MEADOWBROOK EKURHULENI - BOKSBURG 8 108,000,000 REFLECT-ALL 1025 CC SABLE PLACE PROP 106 PTY LTD NOORDHEUWEL~3562~00000 NOORDHEUWEL 9 102,600,000 NCT FORESTRY CO-OPERATIVE LIMITED MONDI LIMITED RICHARDS BAY~5333~00063 10 92,832,000 REDEFINE PROP LTD ROBOR PTY LTD ISANDO~504~00000 ISANDO EKURHULENI - BOKSBURG ISANDO~505~00000 ISANDO EKURHULENI - BOKSBURG ISANDO~509~00000 ISANDO EKURHULENI - BOKSBURG 1.