COMMERCIAL PROPERTY REPORT January 2016
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COMMERCIAL PROPERTY REPORT January 2016 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 January 2016 Summary The data reflects transactions over R5 million that were processed through the Deeds Office from January 2013, showing transactions for the month of January 2016, the last 12 months, the cumulative position for the current year, and the full view for 2015, 2014 and 2013 1.1 Executive Summary The following are the highlights for January 2016: 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 7,131,766 Johannesburg - Bryanston/Fourways 637387 2,678,824 Johannesburg - CBD/Braamfontein 627406 2,414,130 Cape Town - Foreshore 17279 2,357,110 Johannesburg - Midrand/Kyalami 640239 2,308,886 Johannesburg - Central Sandton 633120 2,069,991 Ekurhuleni - Alberton 621677 2,048,443 Cape Town - Downtown Cape Town CBD 16167 2,024,811 Tshwane - Centurion 647500 2,000,000 Ekurhuleni - Edenvale 631709 1,932,693 Pretoria - Central Pretoria CBD 656149 1,536,971 Cape Town - Southern Suburbs 13959 1,401,584 KwaDukuza 350931 1,342,249 Johannesburg - Rosebank/Melrose 630264 1,294,673 Cape Town - Bantry Bay 16161 1,266,471 Tshwane - Pretoria East 653374 1,138,510 Durban - Central 321324 1,037,954 Johannesburg - CBD/Braamfontein 625980 1,015,433 Tshwane - CBD 656157 1,010,404 Durban - North 328715 1,002,229 3 1.2 Owner Segment The transactional activity is broken into the following Owner segments (Rand Mill): Owner Segment 2013 2014 2015 2016 YTD Feb 2015 - Jan January 2016 2016 COMMERCIAL 44,282 53.5% 51,140 48.9% 72,304 61.3% 5,463 44.3% 74,472 60.4% 5,463 44.3% LISTED PROP COMP 16,258 19.6% 25,832 24.7% 20,794 17.6% 4,766 38.6% 24,374 19.8% 4,766 38.6% TRUST 10,694 12.9% 12,359 11.8% 16,086 13.6% 993 8.0% 16,034 13.0% 993 8.0% EMERGING PORTFOLIO 2,427 2.9% 5,205 5.0% 1,548 1.3% 904 7.3% 2,288 1.9% 904 7.3% GOVERNMENT 5,197 6.3% 3,266 3.1% 3,835 3.3% 147 1.2% 3,674 3.0% 147 1.2% CHURCH/EDUCATION 88 0.1% 495 0.5% 375 0.3% 36 0.3% 332 0.3% 36 0.3% MINES 708 0.9% 1,141 1.1% 348 0.3% 33 0.3% 312 0.3% 33 0.3% STUDENT ACCOMMODATION 42 0.1% 44 0.0% 88 0.1% 0 0.0% 88 0.1% 0 0.0% RESIDENTIAL DEVELOPMENT 1,432 1.7% 1,689 1.6% 1,353 1.1% 0 0.0% 998 0.8% 0 0.0% INVESTMENT 92 0.1% 1,483 1.4% 670 0.6% 0 0.0% 524 0.4% 0 0.0% BANK 1,560 1.9% 1,861 1.8% 462 0.4% 0 0.0% 171 0.1% 0 0.0% Total 82,780 104,515 117,863 12,342 123,269 12,342 Table 1: 2016 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 2013 2014 2015 2016 YTD Feb 2015 - Jan 2016 January 2016 ABSA 7,652 9.2% 9,207 10.1% 20,022 16.4% 937 9.5% 20,561 16.3% 937 9.5% BIDVEST 44 0.1% 266 0.3% 26 0.0% 0 0.0% 26 0.0% 0 0.0% FIRSTRAND 11,753 14.2% 11,217 12.3% 16,160 13.2% 785 7.9% 16,179 12.8% 785 7.9% GRINDROD 684 0.8% 523 0.6% 1,030 0.8% 0 0.0% 1,030 0.8% 0 0.0% INVESTEC 15,931 19.2% 22,771 25.0% 27,267 22.3% 2,484 25.1% 28,516 22.6% 2,484 25.1% NEDBANK 34,081 41.1% 30,018 33.0% 40,667 33.2% 1,925 19.5% 40,699 32.3% 1,925 19.5% STANDARD 12,466 15.0% 16,427 18.1% 16,826 13.7% 3,762 38.0% 18,641 14.8% 3,762 38.0% TUHF 373 0.4% 501 0.6% 427 0.3% 0 0.0% 420 0.3% 0 0.0% Total 82,984 90,930 122,425 9,893 126,072 9,893 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 2013 2,094 14 2,433 40 1,353 2,263 1,297 53 2014 2,171 22 2,507 19 1,758 2,538 1,632 100 2015 2,561 13 2,742 60 2,108 2,803 1,825 29 2016 YTD 161 0 225 0 190 184 162 0 Feb 2015 - Jan 2016 2,562 13 2,843 60 2,167 2,760 1,832 22 January 2016 161 0 225 0 190 184 162 0 B: R10 mill - R50 mill 2013 2,846 30 4,104 430 6,349 7,916 3,379 320 2014 4,429 164 3,628 49 6,752 10,178 3,827 256 2015 5,247 13 5,198 420 8,157 9,489 4,176 275 2016 YTD 316 0 400 0 749 814 493 0 Feb 2015 - Jan 2016 5,325 13 5,250 420 8,652 9,693 4,362 275 January 2016 316 0 400 0 749 814 493 0 C: R50 mill - R100 mill 2013 952 0 1,145 214 3,171 5,935 1,847 0 2014 876 80 1,211 195 2,875 5,808 2,038 145 2015 1,624 0 1,657 240 5,482 5,859 3,398 123 2016 YTD 140 0 160 0 924 427 507 0 Feb 2015 - Jan 2016 1,764 0 1,681 240 6,123 5,480 3,805 123 January 2016 140 0 160 0 924 427 507 0 D: R100 mill - R450 mill 2013 1,278 0 1,858 0 5,058 8,937 3,428 0 2014 1,731 0 2,007 260 6,327 9,344 3,330 0 2015 3,555 0 3,498 310 9,890 11,584 6,257 0 2016 YTD 320 0 0 0 621 500 2,600 0 Feb 2015 - Jan 2016 3,875 0 3,340 310 9,944 11,834 7,472 0 January 2016 320 0 0 0 621 500 2,600 0 E: Above R450 mill 2013 482 0 2,213 0 0 9,030 2,515 0 2014 0 0 1,864 0 5,059 2,150 5,600 0 2015 7,035 0 3,065 0 1,630 10,932 1,170 0 Feb 2015 - Jan 2016 7,035 0 3,065 0 1,630 10,932 1,170 0 6 1.3.2 Volume - No of Bonds 2013 2014 2015 2016 YTD Feb 2015 - Jan January 2016 2016 ABSA 480 16.9% 554 17.4% 681 18.6% 43 14.1% 690 18.5% 43 14.1% BIDVEST 3 0.1% 11 0.3% 3 0.1% 0 0.0% 3 0.1% 0 0.0% FIRSTRAND 589 20.7% 576 18.1% 683 18.7% 57 18.8% 703 18.8% 57 18.8% GRINDROD 24 0.8% 9 0.3% 29 0.8% 0 0.0% 29 0.8% 0 0.0% INVESTEC 531 18.7% 619 19.5% 764 20.9% 73 24.0% 799 21.4% 73 24.0% NEDBANK 795 28.0% 934 29.4% 938 25.7% 75 24.7% 949 25.4% 75 24.7% STANDARD 392 13.8% 451 14.2% 537 14.7% 56 18.4% 547 14.6% 56 18.4% TUHF 25 0.9% 27 0.8% 19 0.5% 0 0.0% 18 0.5% 0 0.0% Total 2,839 3,181 3,654 304 3,738 304 7 1.3.2 Volume - No of bonds (Continued) Bond Year ABSA BIDVEST FIRSTRAND GRINDROD INVESTEC NEDBANK STANDARD TUHF A: R5 mill - R10 mill 2013 300 12.0% 2 10.0% 343 12.9% 5 5.5% 190 6.6% 318 8.4% 188 9.2% 8 9.0% 2014 311 12.5% 4 20.0% 354 13.3% 3 3.3% 255 8.9% 352 9.3% 233 11.4% 15 16.9% 2015 363 14.6% 2 10.0% 388 14.6% 7 7.7% 290 10.1% 391 10.4% 261 12.8% 5 5.6% 2016 YTD 23 0.9% 0 0.0% 34 1.3% 0 0.0% 26 0.9% 25 0.7% 23 1.1% 0 0.0% Feb 2015 - Jan 2016 363 14.6% 2 10.0% 405 15.2% 7 7.7% 297 10.4% 386 10.2% 261 12.8% 4 4.5% January 2016 23 0.9% 0 0.0% 34 1.3% 0 0.0% 26 0.9% 25 0.7% 23 1.1% 0 0.0% B: R10 mill - R50 mill 2013 159 6.4% 1 5.0% 220 8.3% 16 17.6% 269 9.4% 343 9.1% 155 7.6% 17 19.1% 2014 223 9.0% 6 30.0% 190 7.1% 3 3.3% 285 10.0% 441 11.7% 169 8.3% 10 11.2% 2015 267 10.7% 1 5.0% 254 9.5% 17 18.7% 344 12.0% 399 10.6% 193 9.5% 12 13.5% 2016 YTD 16 0.6% 0 0.0% 21 0.8% 0 0.0% 30 1.0% 40 1.1% 20 1.0% 0 0.0% Feb 2015 - Jan 2016 272 10.9% 1 5.0% 258 9.7% 17 18.7% 362 12.7% 416 11.0% 199 9.8% 12 13.5% January 2016 16 0.6% 0 0.0% 21 0.8% 0 0.0% 30 1.0% 40 1.1% 20 1.0% 0 0.0% C: R50 mill - R100 mill 2013 13 0.5% 0 0.0% 15 0.6% 3 3.3% 46 1.6% 77 2.0% 25 1.2% 0 0.0% 2014 11 0.4% 1 5.0% 17 0.6% 2 2.2% 39 1.4% 79