Fourways Golf Park - 7 Juliet Close

Witkoppen Oak Hill Building – Prime Office Space in Corporate Park Sandton GLA – ± 1,360.62m² (Seller Supplied)

Thursday, 20 February 2019 @ 12h00 Houghton Golf Club – Osborn Road, Houghton, Johannesburg Warren Aronson | 082 529 1020 | [email protected]

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

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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.

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Property Images Aerial Images

Witkoppen Rd

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Property Images

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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.

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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 Levies 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

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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

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Locality LocalityInformation Information Micro Locality

standard bank logo

Fourways

Roospark AH Roospark

Entrance to to Entrance

Fourways Golf Park Golf Fourways

Pine Slopes AH Slopes Pine

ImageData: Google, AfriGIS Ltd, (Pty) DigitalGlobe

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Property Description Approximate Boundaries

CityJoburg of GIS MapViewer

ImageData:

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Fully 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. ______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. ______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.

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Fully 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. ______Gross Lettable Areas Area Description Approx GLA (m²) 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.

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Fully 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.

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Projected Gross Annual Income

6 6 185

18 556 18

12 371 12

47 535 47

61 725 61

39 139 39

22 586 22

59 419 59

204 092 204

156 557 156

886 259 886

18 556,42 18

2 347 736 2 347

2 003 944 2 003

1 117 685 1 117

325 235,48 325

Total

2 003 944,20 2 003

2 347 736,10 2 347

E & OE

2020/01/28

Date:

553

1 1 659

1 1 106

4 4 190

5 5 490

3 3 499

1 1 991

5 5 237

18 186 18

13 997 13

99 925 99

78 113 78

208 611 208

178 039 178

1 1 659,02

28 913,40 28

178 038,94 178

Mar-21

512

1 1 536

1 1 024

4 4 190

5 5 231

3 3 240

1 1 991

5 5 237

17 150 17

12 960 12

92 524 92

78 113 78

199 791 199

170 637 170

1 1 536,13

27 617,40 27

170 637,05 170

Feb-21

512

Total Projected Gross Annual Income

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Jan-21

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Dec-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Nov-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Oct-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Sep-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Aug-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

Jul-20

165 526,82 165

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Jun-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

May-20

512

1 1 536

1 1 024

3 3 916

5 5 100

3 3 240

1 1 860

4 4 894

16 876 16

12 960 12

92 524 92

73 003 73

193 933 193

165 527 165

1 1 536,13

26 870,47 26

165 526,82 165

Apr-20

Let

659

322

325

9,33

54,62

17,98

1 1 306

Approx. Area

52,74

50,82

Office Rental - Total Office

600,00

406,60

375,00

347,75

240,75

130,00

105,45

Parking Rental - Total

Storage Rental - Total

BASIC RENT

Basic Rent

Potential Gross Annual Income

Esc

1 1 361

Total GLA

2023/01/31

2024/02/29

2023/01/31

2024/02/29

2023/01/31

2024/02/29

2023/01/31

2024/02/29

2023/01/31

Expiry Date

Tenancy Summary

Vacant Lettable Area

Occupied LettableOccupied Area

Start Date

2018/02/01

2016/03/01

2018/02/01

2016/03/01

2018/02/01

2016/03/01

2018/02/01

2018/03/01

2016/03/01

2018/02/01

Item Item / Tenant

Magotteaux Ltd(Pty)

Pam Golding Properties Ltd(Pty)

Magotteaux Ltd(Pty)

Pam Golding Properties Ltd(Pty)

Magotteaux Ltd(Pty) Pam Golding Properties Ltd(Pty)

Magotteaux Ltd(Pty)

Pam Golding Properties Ltd(Pty)

Pam Golding Properties Ltd(Pty) Pam Golding Properties Ltd(Pty)

Unit

Ptn South

Ptn North

information and and shouldforecasts, appropriateseek further independent professional inadvice relation thereto from suitably qualified professionals to complete their own due diligence in relation to the Property.

Special Special Note rental - The information in this brochure is not intended to constitute noradvice tospecific substitute and aaccordingly for shoulddue diligence exercise, not be relied upon to make a decision.purchase Prospective shouldpurchasers make their own enquiries and investigation to confirm pertinent

confirming and requested been such have will be made available upon our receipt Forthereof. the purposes thisof projection, the projected / has included.rentalagreed been Schedule as per the Tenancy

5. It appears from the Seller supplied Tenancy Schedule (December 2019) that rental5. It2019) willthe appears(December office from Schedule the notsuppliedSeller inTenancy be increased line with theAgreement Lease indicated The 2020. from rental1 February amount appears lower than the projected rentalincreased amount. agreementsAny thebetween andSeller the Tenant

4. Utilities such as water, electricity andappear sewerage to metered unit each for be seperately onand recovered a monthly basis.

3. Rental Information utilities, excludes balances brought recoveries, depositforward, andcharges similar and variable items once-off billed during this period.

2. All rental information above presented VAT. isof exclusive

1. Based 1. onBased the relevantAgreements Lease as as suppliedwell Schedule the thebilling for by as Seller 2019 December the Tenancy period.

Notes/Assumptions

Storerooms

Basement Parking

Shade-net parking

Open parking Offices

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Fully 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.

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Fully 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.

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Fully 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”

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Fully Tenanted Office Building in Corporate Park - Witkoppen, Sandton

Rates Statement January 2020 Billing Period

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Fully Tenanted Office Building in Corporate Park – Witkoppen, Sandton

Rates Statement January 2020 Billing Period

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Fully Tenanted Office Building in Corporate Park – Witkoppen, Sandton

General Plan Diagram S.G. No. 6550/1999

Rates Statement

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CCMA Place Office Building with Upside Potential – Benoni, Ekurhuleni

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