COMMERCIAL PROPERTY REPORT June 2015
Total Page:16
File Type:pdf, Size:1020Kb
COMMERCIAL PROPERTY REPORT June 2015 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.sarevealed.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.sarevealed.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 June 2015 Summary The data reflects transactions over R5 million that were processed through the Deeds Office from January 2012, showing transactions for the month of June 2015, the last 12 months, the cumulative position for the current year, and the full view for 2014, 2013 and 2012 1.1 Executive Summary The following are the highlights for June 2015: There is an anomoly this month with regards to a bond by ABSA for R2 billion over a number of properties across different provinces. We believe the R2 billion relate to a single transaction and have spread the value across the Bond Numbers. This may change as we get further information Top areas over past 24 months (based on small hexagon layer - the Hexagon ID is shown below and can be Searched on the map): Description Hexagon ID Investment (R million) Johannesburg - Central Sandton 633121 5,701,877 Johannesburg - Rosebank/Melrose 631697 4,030,071 Cape Town - Foreshore 17279 3,325,190 Stellenbosch - Stellenbosch 16234 2,197,902 Ekurhuleni - Bedfordview 627417 2,090,026 Cape Town - Downtown Cape Town CBD 16167 1,778,777 KwaDukuza 350931 1,539,608 Johannesburg - Central Sandton 633120 1,445,421 Pretoria - Eastern Pretoria CBD 656151 1,118,740 Pretoria - Central Pretoria CBD 656149 1,083,171 Cape Town - Bantry Bay 16161 1,052,288 Johannesburg - Bryanston 635962 1,033,383 Ethekwini - Durban West 330510 1,000,000 Cape Town - Southern Suburbs 13959 955,129 Johannesburg - CBD/Braamfontein 625980 890,776 Cape Town - East Cape Town CBD and Woodstock 16169 849,594 Johannesburg - Waterfall 638823 800,000 Pretoria - Centurion 648979 722,545 Cape Town - Atlantic Seaboard 16160 716,396 Tshwane - Pretoria East 653374 681,095 3 1.2 Owner Segment The transactional activity is broken into the following Owner segments (Rand Mill): Owner Segment 2012 2013 2014 2015 YTD Jul 2014 - Jun June 2015 2015 COMMERCIAL 41,108 54.0% 50,509 52.8% 52,035 49.2% 31,938 61.0% 60,027 56.4% 7,913 66.4% TRUST 10,178 13.4% 11,696 12.2% 12,377 11.7% 8,401 16.0% 15,039 14.1% 1,613 13.5% LISTED PROP COMP 14,117 18.5% 20,097 21.0% 26,000 24.6% 6,705 12.8% 18,848 17.7% 1,839 15.4% GOVERNMENT 4,472 5.9% 5,829 6.1% 3,297 3.1% 1,968 3.8% 3,311 3.1% 202 1.7% EMERGING PORTFOLIO 640 0.8% 2,555 2.7% 5,205 4.9% 1,526 2.9% 2,515 2.4% 213 1.8% RESIDENTIAL DEVELOPMENT 1,124 1.5% 1,682 1.8% 1,696 1.6% 819 1.6% 1,657 1.6% 78 0.7% BANK 2,779 3.6% 2,303 2.4% 2,006 1.9% 297 0.6% 1,842 1.7% 2 0.0% INVESTMENT 154 0.2% 134 0.1% 1,483 1.4% 246 0.5% 1,574 1.5% 22 0.2% CHURCH/EDUCATION 332 0.4% 97 0.1% 501 0.5% 219 0.4% 566 0.5% 0 0.0% MINES 1,257 1.6% 766 0.8% 1,141 1.1% 212 0.4% 985 0.9% 12 0.1% STUDENT ACCOMMODATION 24 0.0% 65 0.1% 44 0.0% 26 0.1% 38 0.0% 19 0.2% Total 76,185 95,733 105,785 52,357 106,402 11,911 Table 1: 2015 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 2015 YTD Jul 2014 - Jun 2015 June 2015 ABSA 7,188 8.8% 7,865 8.5% 9,217 10.1% 7,204 13.6% 12,067 11.7% 3,671 24.5% BIDVEST 62 0.1% 44 0.0% 266 0.3% 6 0.0% 183 0.2% 6 0.0% FIRSTRAND 16,826 20.5% 13,056 14.1% 11,234 12.3% 6,371 12.0% 12,268 11.9% 1,067 7.1% GRINDROD 249 0.3% 684 0.7% 523 0.6% 517 1.0% 718 0.7% 70 0.5% INVESTEC 18,105 22.0% 17,116 18.5% 22,823 25.1% 11,403 21.5% 22,403 21.7% 3,080 20.6% NEDBANK 23,528 28.6% 37,790 41.0% 30,060 33.0% 17,206 32.5% 34,054 32.9% 5,140 34.3% STANDARD 15,984 19.5% 15,323 16.6% 16,433 18.0% 9,942 18.8% 21,045 20.4% 1,950 13.0% TUHF 201 0.2% 398 0.4% 501 0.6% 318 0.6% 630 0.6% 0 0.0% Total 82,143 92,276 91,057 52,967 103,368 14,984 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 1,736 24 2,323 32 1,281 1,996 1,465 34 2013 2,135 14 2,575 40 1,353 2,437 1,344 53 2014 2,181 22 2,507 19 1,758 2,547 1,632 100 2015 YTD 1,207 6 1,351 42 1,016 1,331 796 29 Jul 2014 - Jun 2015 2,283 17 2,681 48 2,158 2,726 1,760 71 June 2015 254 6 341 7 218 330 144 0 B: R10 mill - R50 mill 2012 2,838 38 4,579 90 5,528 7,363 3,416 167 2013 2,935 30 4,667 430 6,519 8,290 3,510 345 2014 4,429 164 3,645 49 6,752 10,131 3,873 256 2015 YTD 2,289 0 2,601 209 4,164 5,080 2,194 166 Jul 2014 - Jun 2015 4,812 86 4,634 209 8,105 11,314 4,421 346 June 2015 447 0 576 63 838 1,046 510 0 C: R50 mill - R100 mill 2012 826 0 2,305 127 3,671 3,353 1,950 0 2013 1,035 0 1,489 214 3,420 6,435 2,320 0 2014 876 80 1,211 195 2,927 5,888 2,038 145 2015 YTD 498 0 735 96 2,616 3,415 1,876 123 Jul 2014 - Jun 2015 1,209 80 1,387 291 3,735 6,872 2,765 213 June 2015 0 0 0 0 559 348 465 0 D: R100 mill - R450 mill 2012 1,788 0 4,829 0 6,925 8,176 4,423 0 2013 1,278 0 2,112 0 5,824 9,798 4,694 0 2014 1,731 0 2,007 260 6,327 9,344 2,790 0 2015 YTD 342 0 834 170 3,607 5,080 3,906 0 Jul 2014 - Jun 2015 895 0 2,716 170 5,955 10,342 5,329 0 June 2015 102 0 150 0 1,465 2,116 831 0 E: Above R450 mill 2012 0 0 2,790 0 700 2,640 4,730 0 2013 482 0 2,213 0 0 10,830 3,455 0 2014 0 0 1,864 0 5,059 2,150 6,100 0 2015 YTD 2,868 0 850 0 0 2,300 1,170 0 Jul 2014 - Jun 2015 2,868 0 850 0 2,450 2,800 6,770 0 June 2015 2,868 0 0 0 0 1,300 0 0 6 1.3.2 Volume - No of Bonds 2012 2013 2014 2015 YTD Jul 2014 - Jun June 2015 2015 ABSA 417 15.5% 492 16.4% 555 17.4% 306 17.1% 603 16.9% 66 17.0% BIDVEST 4 0.1% 3 0.1% 11 0.3% 1 0.1% 7 0.2% 1 0.3% FIRSTRAND 612 22.8% 636 21.2% 577 18.1% 332 18.6% 647 18.1% 75 19.3% GRINDROD 12 0.4% 24 0.8% 9 0.3% 16 0.9% 19 0.5% 4 1.0% INVESTEC 498 18.5% 546 18.2% 620 19.5% 372 20.8% 727 20.3% 81 20.8% NEDBANK 705 26.2% 849 28.3% 935 29.3% 476 26.7% 1,019 28.5% 107 27.5% STANDARD 424 15.8% 420 14.0% 452 14.2% 268 15.0% 527 14.7% 55 14.1% TUHF 15 0.6% 26 0.9% 27 0.8% 14 0.8% 27 0.8% 0 0.0% Total 2,687 2,996 3,186 1,785 3,576 389 7 1.3.2 Volume - No of bonds (Continued) Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF A: R5 mill - R10 mill 2012 245 10.0% 3 11.1% 333 11.6% 5 6.0% 177 6.2% 283 6.9% 210 9.8% 5 4.6% 2013 306 12.5% 2 7.4% 363 12.6% 5 6.0% 190 6.7% 341 8.3% 195 9.1% 8 7.3% 2014 312 12.8% 4 14.8% 354 12.3% 3 3.6% 255 9.0% 353 8.6% 233 10.9% 15 13.8% 2015 YTD 174 7.1% 1 3.7% 191 6.6% 5 6.0% 138 4.9% 188 4.6% 116 5.4% 5 4.6% Jul 2014 - Jun 2015 330 13.5% 3 11.1% 381 13.2% 6 7.1% 303 10.7% 383 9.4% 253 11.8% 11 10.1% June 2015 35 1.4% 1 3.7% 47 1.6% 1 1.2% 31 1.1% 45 1.1% 21 1.0% 0 0.0% B: R10 mill - R50 mill 2012 151 6.2% 1 3.7% 217 7.5% 5 6.0% 236 8.3% 330 8.1% 161 7.5% 10 9.2% 2013 164 6.7% 1 3.7% 242 8.4% 16 19.0% 276 9.7% 362 8.8% 161 7.5% 18 16.5% 2014 223 9.1%