29 D F Malan Street - Aucor

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29 D F Malan Street - Aucor
Vanderbiljpark CBD        Fully Let Retail Centre
Vanderbijlpark            GLA – ± 5,320m² (Seller Supplied)

 29 D F Malan Street
      Tuesday, 17 March 2020 @ 12h00

      Houghton Golf Club – Osborn Road, Houghton, Johannesburg

      Thabo Molomo | 073 518 0742 | ThaboM@aucor.com

                              Version 1: 5 March 2020 NT
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   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 - Detailed                               Page 14

   Lease Summaries                                                        Page 15

   Rates Statement                                                        Page 18

   Zoning Information                                                     Page 19

   Surveyor General Diagram                                               Page 20

                  /AucorProperty                www.aucorproperty.co.za             2
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   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                              2 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
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Property Images
   Aerial Images

      Boundary lines are not to scale and are
      drawn for illustrative purposes only

                                                                          Boundary lines are not to scale and are
                                                                          drawn for illustrative purposes only

                  /AucorProperty                www.aucorproperty.co.za                                             4
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Property Images

                  /AucorProperty                www.aucorproperty.co.za   5
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Executive Summary &
   Key Investment Highlights
    Street Address:                          29 D F Malan Street - Vanderbijlpark CBD, Vanderbijlpark
    GPS Coordinates:                         -26.7020, 27.8374

    Registered Land Sizes:                   5,976m²
    Zoning:                                  'Special' (See t he zoning cert ificat e at t ached t o t his brochure)
    Assessment Rates:                        R22,601.33 / month (excluding consumpt ion charges and cit y levies)

    Accommodation:                           See from page 11 for full accommodat ion det ails:
                                             The improvements on the subject property comprise of a
                                             convenience shopping centre with a rectangular footprint and a
                                             gross lettable area of ± 5,320m². The site has excellent visibility and
                                             exposure onto Jan van Riebeeck Boulevard and D F Malan Street
                                             along which it is located and enjoys easy access from the adjoining
                                             important arterial road that is Jan van Riebeeck Boulevard.
                                             The centre has been configured to host approximately 6 units of
                                             varying size, but similar configuration. The building feature covered
                                             walkways along the shop front extents facing the interlock brick
                                             paved parking lot. Each of the units are accessible from the delivery
                                             yard located behind the main building.

    Approx. Total Gross Lettable Area:       ± 5,320m² (Seller supplied)

    Occupation:                              The property is multi-let. See pages 13-17 for details.

                                             Situated in the bustling, primary trading node of Vanderbijlpark.
                                             The site enjoys excellent visibility due to its exposure to the busy Jan
                                             van Riebeeck Boulevard (a primary arterial road coming into the
                                             area) and D F Malan Street along which the site is located.
    Key Investment Highlights:
                                             Fully let retail facility, with strong income generating capacity.
                                             Ideal investment property with a Projected Gross Annual Income of ±
                                             R 1,450,000 in the first year of ownership (including recoverable
                                             expenses).

                                             Unless otherwise stated, all movables and tenant installed equipment
    Exclusions:                              (air-conditioning units, generators, etc.) are excluded from the sale of
                                             this property.

     By bidding on t his propert y, t he purchaser acknowledges t hat he has acquaint ed himself wit h t he ext ent
              and t he nat ure of t he propert y he is buying, and t hat he accept s t he propert y as such.

                  /AucorProperty                www.aucorproperty.co.za                                                 6
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   General Information
   Street Address                                 29 D F Malan Street - Vanderbijlpark CBD, Vanderbijlpark
   GPS Coordinates                                -26.7020, 27.8374
   ________________________________________________________________________________________________________

   Title Deed Information
   Title Deed Number                              T20625/2016
   Registered Owner                               Marble Gold 1002 CC
   Title Deed Description                         Erf 29 Vanderbijlpark
   Registered Land Size                           5,976m²
   Title Deed Conditions                          A copy of the Title Deed is on hand and will be made available
                                                  to bona fide purchasers upon request.
   ________________________________________________________________________________________________________

   Municipality Information
   Municipality                                   Emfuleni Local Municipality
   Rates                                          Excluding consumption charges and city levies. Based on the
                                                  tax invoice as supplied by council to the seller for the August
                                                  2019 billing period. See a copy attached to this brochure for
                                                  these and other charges.

                                                                                                     2019 / 2020
      Municipal                                             2019 / 2020      2019 / 20 Annual
                          Exclusion       Rebate                                                    Monthly Rates
      Valuation                                                Tariff              Rates
                                                                                                    (Annual ÷12)

     R 10 120 000             N/A           N/A                0.0268000    R       271 215.96 R           22 601.33

   ________________________________________________________________________________________________________

   Zoning Information
   Zoning                                         'Special' - See zoning confirmation attached to this brochure
   Permitted Uses (per amendment scheme)          “…Shops, Business buildings, Place of Instruction, Place of
                                                  Amusement, Social halls, Fish fryers and Fish mongers”
   Height                                         Three (3) Storeys
   Floor Area Ratio                               3.0 / 17,928m²
   Coverage                                       N/A
   Density                                        N/A
   Building Lines                                 10m from Jan van Riebeeck Boulevard
   Parking Requirements                           See zoning certificate as attached

                    /AucorProperty              www.aucorproperty.co.za                                                7
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Locality Information
   Macro Locality
   The subject property is situated in the primary trading node of the Vanderbijlpark CBD, which services the
   greater town of Vanderbijpark, which encompasses a host of student accommodation developments
   (including those in nearby residential hubs), as well as Sebokeng. The town has a concentric design with the
   CBD at the very centre thereof. The CBD is thus well-serviced by a comprehensive network of roads and is
   accessible via a number of avenues. Jan Van Riebeeck Boulevard, onto which the property has excellent
   frontage, is one of the major roads coming into the CBD. The property is therefore exposed to significant
   volumes of passing vehicular traffic. The property further benefits from exposure to the additional traffic
   generated by the shopping centre (located across the road), as well as the Emfuleni Mediclinic, both of
   which are major drivers of activity in the area. All municipal services are accessible from the property. GPS
   coordinates for the the site are as follows: -26.7020, 27.8374

                                                                          Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe

                  /AucorProperty                www.aucorproperty.co.za                                                         8
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Locality
   Locality
   Information Information
   Micro Locality
             Vaal Walk

                                                                          Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe

                         /AucorProperty         www.aucorproperty.co.za                                                         9
29 D F Malan Street - Aucor
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Property
   Locality
   Information Description
   Approximate Boundaries
             N

                                                                          Image Data: CSG; Esri, HERE, Garmin, NGA, USGS

                  /AucorProperty                www.aucorproperty.co.za                                                    10
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Property Description
   Accommodation               The improvements on the subject property comprise of a convenience shopping
                               centre with a rectangular footprint and a gross lettable area of ± 5,320m². The site
                               has excellent visibility and exposure onto Jan van Riebeeck Boulevard and D F
                               Malan Street along which it is located and enjoys easy access from the adjoining
                               important arterial road that is Jan van Riebeeck Boulevard.

                               The centre has been configured to host approximately 6 units of varying size, but
                               similar configuration. The building feature covered walkways along the shop front
                               extents facing the interlock brick paved parking lot. Each of the units are
                               accessible from the delivery yard located behind the main building.
   ________________________________________________________________________________________________________
   Additional Features         The building features the following additional features:
                                   •   Covered walkways along the shop fronts
                                   •   Shared access to a delivery yard at the rear of the building for tenants
                                   •   Shared access to ablutions accommodated in an outbuilding in a part of
                                       the delivery yard
                                   •   Security features including lock-up roller shutter doors along the shop fronts
                                       and a brick wall fence topped with an 8-string electric fence along the
                                       delivery yard perimeter
                                   •   Street front parking along D F Malan Street, as well as a small asphalt
                                       paved parking lot (exclusive to the property)
   ________________________________________________________________________________________________________
   Construction                The building is constructed of a cast in-situ concrete frame with large glass panels
                               along the shop fronts facing the D F Malan Street, under a roof constructed of a
                               tile roof, which extends over the sheet facing shop fronts and effectively
                               constitutes the covered walkway along the shop fronts.
   ________________________________________________________________________________________________________
   Fixtures and Finishes       The units have been finished and fitted out according to the specifications and
                               requirements of the respective tenants
   ________________________________________________________________________________________________________
   Utilities                   All utilities such as water & sanitation and electricity are supplied by the Emfuleni
                               Local Municipality
   ________________________________________________________________________________________________________

   Gross Lettable Areas        ± 5,320 m² - Seller supplied
   ________________________________________________________________________________________________________

                  /AucorProperty                 www.aucorproperty.co.za                                                11
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Property Description
   Parking                      The building enjoys access to street front parking along D F Malan Street, as well as
                                a small asphalt paved parking lot (exclusive to the property)
   ________________________________________________________________________________________________________

   Perimeter                    The perimeter is partially defined by the primary building, with the street facing
                                extents being generally unbounded. A portion of the northern boundary and the
                                whole of the western boundary are enclosed by way of brick wall fencing topped
                                with an 8-string electric fence.
   ________________________________________________________________________________________________________

   Occupation                   The property is multi-let. See pages 13-18 for details.
   ________________________________________________________________________________________________________

   Condition                    While the building is generally well maintained and offers excellent curb appeal.
                                No structural survey of the building has been undertaken nor have tests or
                                inspections of service installations been arranged.

   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                                                        12
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Projected Gross Annual Income -
   Summary
    Contractual Cashflow Projections - June 2020 to May 2021
                                                                                                                                                    Approx.
       Premises                          Item / Tenant                           Start Date        Expiry Date                 Esc         Esc       Area /                  Total
                                                                                                                                                      Units

     Shop 1           Drosdy Meubileerders                                      01/08/2019         31/07/2022                 8.0%         10%      1952.59             R       636 000

     Shop 2           Ms M.M. Maloka t/a Tile & Décor                           01/05/2019         30/04/2020                 6.5%          0%      1191.59             R       208 420

     Shop 3           LI Cash & Carry (Pty) Ltd t/a China Cash & Carry          01/10/2017         30/09/2020                 8.0%          0%      1254.18             R       343 980

                      Bonny Events Management (Pty) Ltd t/a Angelic
     Shop 4                                                                            Month-to-Month                         6.0%          0%       152.33             R       124 898
                      Brides
     Shop 5           Vaal Triangle Computers and Books (Pty) Ltd               01/03/2019         28/02/2021                 7.0%          0%       152.46             R       125 653
     Shop 6           Buyworths (Pty) Ltd t/a Dismart                           01/07/2018         31/05/2020                 8.0%          0%       616.74             R       226 800
                                                                                                                                                                        R   1 665 750.91

                                                               Tenancy Summary                                Additional Income/Recoverable expenses
                                                   Occpied Lettable Area    5 320                                                   Assessment Rates                    R        64 764
                                                    Vacant Lettable Area      0
                                                                Total GLA   5 320                           Contractual Cash Outflows/Property Expenses
                                                                                                                                      Assessment Rates                         (271 216)
                                                                                                                                        Refuse Removal                           (6 434)
                                                                                                                                                                               (277 650)

                                                                                                                                      Gross Annual Income               R     1 452 865

    Not es/Assumpt ions
    1. The Basic rent , Escalat ion rat e and t he approximat e area of t he various unit s (ret ail and office) are as ext ract ed from t he Tenancy Schedule
    as at December 2019 and as supplied by t he Seller.
    2. The salient lease t erms cont emplat ed in t he above analysis have been verified t o t he relevant lease agreement s.
    3. Tenant s are responsible for a share of municipal rat es and t axes increases. The port ion of t he recoverable amount has t hus been included in
    income and t he full expense included in t he cont ract ual expenses analysis in order t o t ake int o account t he effect s of t he under-recovery on
    t he rat es and t axes.
    4. All amount s represent ed above are exclusive of VAT.
    5. Only cont ract ual cash flows have been considered in t he above analysis.
                                                                                                                                                                                  Dat e:
    6. Where t he lease expires during t he course of t he project ion period, t he basic rent al has not been escalat ed.
                                                                                                                                                                             2020/03/05
    Special Not e - The rent al informat ion in t his brochure is not int ended t o const it ut e specific advice nor t o subst it ut e for a due diligence exercise,
    and accordingly should not be relied upon t o make a purchase decision. Prospect ive purchasers should make t heir own enquiries and
    invest igat ion t o confirm pert inent informat ion and forecast s, and should furt her seek appropriat e independent professional advice in relat ion                       E & OE

                          /AucorProperty                               www.aucorproperty.co.za                                                                                       13
Contractual Cashflow Projections - June 2020 to May 2021
                                                                                                                                                                  Approx.
                            Premises                         Item / Tenant                         Start Date       Expiry Date               Esc         Esc      Area /              Jun-20        Jul-20         Aug-20         Sep-20         Oct-20         Nov-20         Dec-20          Jan-21         Feb-21         Mar-21           Apr-21         May-21          Total
                                                                                                                                                                    Units

                           Shop 1          Drosdy Meubileerders                                   01/08/2019        31/07/2022               8.0%         10%     1952.59          R      50 000 R      50 000 R       50 000 R        54 000 R       54 000 R       54 000 R       54 000 R       54 000 R       54 000 R          54 000 R      54 000 R        54 000 R      636 000

                           Shop 2          Ms M.M. Maloka t/a Tile & Décor                        01/05/2019        30/04/2020               6.5%         0%      1191.59          R      17 000 R      17 000 R       17 000 R        17 000 R       17 000 R       17 000 R       17 000 R       17 000 R       18 105 R          18 105 R      18 105 R        18 105 R      208 420

                           Shop 3          LI Cash & Carry (Pty) Ltd t/a China Cash & Carry       01/10/2017        30/09/2020               8.0%         0%      1254.18          R      28 665 R      28 665 R       28 665 R        28 665 R       28 665 R       28 665 R       28 665 R       28 665 R       28 665 R          28 665 R      28 665 R        28 665 R      343 980

                                           Bonny Events Management (Pty) Ltd t/a Angelic
                           Shop 4                                                                        Month-to-Month                      6.0%         0%       152.33          R      10 105 R      10 105 R       10 105 R        10 105 R       10 105 R       10 105 R       10 711 R       10 711 R       10 711 R          10 711 R      10 711 R        10 711 R      124 898
                                           Brides
                           Shop 5          Vaal Triangle Computers and Books (Pty) Ltd            01/03/2019        28/02/2021               7.0%         0%       152.46          R      10 291 R      10 291 R       10 291 R        10 291 R       10 291 R       10 291 R       10 291 R       10 291 R       10 291 R          11 011 R      11 011 R        11 011 R      125 653
                           Shop 6          Buyworths (Pty) Ltd t/a Dismart                        01/07/2018        31/05/2020               8.0%         0%       616.74          R      18 900 R      18 900 R       18 900 R        18 900 R       18 900 R       18 900 R       18 900 R       18 900 R       18 900 R          18 900 R      18 900 R        18 900 R      226 800

  /AucorProperty
                                                                                                                                                                                   R 134 961.00 R      134 961 R      134 961 R      138 961 R       138 961 R      138 961 R      139 567 R      139 567 R      140 672 R         141 393 R    141 393 R        141 393 R 1 665 750.91

                                                                                  Tenancy Summary                              Additional Income/Recoverable expenses
                                                                      Occpied Lettable Area    5 320                                                 Assessment Rates              R       5 397 R        5 397 R        5 397 R        5 397 R        5 397 R        5 397 R        5 397 R        5 397 R        5 397 R           5 397 R       5 397 R         5 397 R        64 764
                                                                       Vacant Lettable Area      0
                                                                                   Total GLA   5 320                        Contractual Cash Outflows/Property Expenses
                                                                                                                                                      Assessment Rates                   (22 601)      (22 601)       (22 601)        (22 601)       (22 601)       (22 601)       (22 601)       (22 601)       (22 601)          (22 601)      (22 601)        (22 601)      (271 216)
                                                                                                                                                        Refuse Removal                      (536)         (536)          (536)           (536)          (536)          (536)          (536)          (536)          (536)             (536)         (536)           (536)        (6 434)
                                                                                                                                                                                         (23 138)      (23 138)       (23 138)        (23 138)       (23 138)       (23 138)       (23 138)       (23 138)       (23 138)          (23 138)      (23 138)        (23 138)      (277 650)

                                                                                                                                                     Gross Annual Income           R    117 221 R      117 221 R      117 221 R      121 221 R       121 221 R      121 221 R      121 827 R      121 827 R      122 932 R         123 652 R    123 652 R        123 652 R     1 452 865

                          Not es/Assumpt ions
                          1. The Basic rent , Escalat ion rat e and t he approximat e area of t he various unit s (ret ail and office) are as ext ract ed from t he Tenancy Schedule as at December 2019 and as supplied by t he Seller.
                          2. The salient lease t erms cont emplat ed in t he above analysis have been verified t o t he relevant lease agreement s.
                          3. Tenant s are responsible for a share of municipal rat es and t axes icnreases. The port ion of t he recoverable amount has t hus been
                                                                                                                                                                                                                                                                                                                                                                                                                           Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

                          included in income and t he full expense included in t he cont ract ual expenses analysis in order t o t ake int o account t he effect s of t he
                          4. All amount s represent ed above are exclusive of VAT.
                          5. Only cont ract ual cash flows have been considered in t he above analysis.
                          6. Where t he lease expires during t he course of t he project ion period, t he basic rent al has not been escalat ed.
                          Special Not e - The rent al informat ion in t his brochure is not int ended t o const it ut e specific advice nor t o subst it ut e for a due diligence exercise, and accordingly should not be relied upon t o make a purchase decision. Prospect ive purchasers should make t heir own enquiries and
                          invest igat ion t o confirm pert inent informat ion and forecast s, and should furt her seek appropriat e independent professional advice in relat ion t heret o from suit ably qualified professionals t o complet e t heir own due diligence in relat ion t o t he Propert y.
                                                                                                                                                                                                                                                                                                                                                  Dat e:     2020/03/05          E & OE

www.aucorproperty.co.za
                                                                                                                                                                                                                                                                                                                                                                                           Projected Gross Annual Income

    14
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   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                        Drosdy Meubileerders
   Rentable Area                 Shop 1 – 1,952.59m²
   Start Date                    1 August 2019
   Expiry Date                   31 July 2022
   Renewal Period                Not applicable
   Escalation Rate               5% per annum
   Monthly Rental (excl VAT)*    R50,000 / month
   Tenant’s Pro Rata Share       36.4%
   Additional Charges            1. The lessee agrees to pay a proportionate share of increases in the
                                 assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                 levy and any other charges imposed by the local authority on the building
                                 during the currency of the lease.
                                 2. The lessee shall be liable for and shall pay on due date all deposits and all
                                 charges levied for electric current and water consumed in the premises, and
                                 all sanitary, sewerage, rubbish and refuse removal fees levied in respect of
                                 the premises.
   ________________________________________________________________________________________________________

   Lease 2

   Tenant                              M.M. Maloka t/a Tile & Decor
   Rentable Area                       Shop 2 – 1,191.59m²
   Start Date                          1 May 2019
   Expiry Date                         30 April 2020
   Renewal Period                      Not applicable
   Escalation Rate                     Not applicable
   Monthly Rental (excl VAT)*          R17,000 / month
   Tenant’s Pro Rata Share             22.3%
   Additional Charges                  1. The lessee agrees to pay a proportionate share of increases in the
                                       assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                       levy and any other charges imposed by the local authority on the building
                                       during the currency of the lease.
                                       2. The lessee shall be liable for and shall pay on due date all deposits and all
                                       charges levied for electric current and water consumed in the premises, and
                                       all sanitary, sewerage, rubbish and refuse removal fees levied in respect of
                                       the premises.

                   /AucorProperty                  www.aucorproperty.co.za                                                  15
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Lease Summaries
   Lease 3

   Tenant                        LI Cash and Carry (Pty) Ltd
   Rentable Area                 Shop 3 – 1,254.18m²
   Start Date                    1 October 2017
   Expiry Date                   30 September 2020
   Renewal Period                Not applicable
   Escalation Rate               5% per annum
   Monthly Rental (excl VAT)*    R28,665 / month
   Tenant’s Pro Rata Share       23.5%
   Additional Charges            1. The lessee agrees to pay a proportionate share of increases in the
                                 assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                 levy and any other charges imposed by the local authority on the building
                                 during the currency of the lease.
                                  2. The lessee shall be liable for and shall pay on due date all deposits and all
                                  charges levied for electric current and water consumed in the premises,
                                  and all sanitary, sewerage, rubbish and refuse removal fees levied in respect
                                  of the premises.
   ________________________________________________________________________________________________________

   Lease 4

   Tenant                        Bonny Events Management (Pty) Ltd
   Rentable Area                 Shop 4 – 152.33m²
   Start Date                    1 December 2015
   Expiry Date                   30 November 2016*
   Renewal Period                Not applicable
   Escalation Rate               Not applicable
   Monthly Rental (excl VAT)*    R 10,291.00 / month
   Tenant’s Pro Rata Share       2.86%
   Additional Charges            1. The lessee agrees to pay a proportionate share of increases in the
                                 assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                 levy and any other charges imposed by the local authority on the building
                                 during the currency of the lease.
                                 2. The lessee shall be liable for and shall pay on due date all deposits and all
                                 charges levied for electric current and water consumed in the premises, and
                                 all sanitary, sewerage, rubbish and refuse removal fees levied in respect of
                                 the premises.
   * The tenant currently occupies this unit on a month-to-month basis and has done so since the lease expired
   at the end of November 2016.
   ________________________________________________________________________________________________________

                  /AucorProperty                www.aucorproperty.co.za                                              16
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Lease Summaries
   Lease 5

   Tenant                        Vaal Triangle Computers and Books (Pty) Ltd
   Rentable Area                 Shop 5 – 152.46m²
   Start Date                    1 March 2019
   Expiry Date                   28 February 2021
   Renewal Period                Not applicable
   Escalation Rate               8% per annum (basic area rental & refrigerator)
   Monthly Rental (excl VAT)*    R 10,921.00 / month
   Tenant’s Pro Rata Share       2.8%
   Additional Charges            1. The lessee agrees to pay a proportionate share of increases in the
                                 assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                 levy and any other charges imposed by the local authority on the building
                                 during the currency of the lease.
                                 2. The lessee shall be liable for and shall pay on due date all deposits and all
                                 charges levied for electric current and water consumed in the premises, and
                                 all sanitary, sewerage, rubbish and refuse removal fees levied in respect of
                                 the premises.
   ________________________________________________________________________________________________________

   Lease 6

   Tenant                            Buyworths (Pty) Ltd t/a Dismart
   Rentable Area                     Shop 6 – 616.74m²
   Start Date                        1 June 2018
   Expiry Date                       31 May 2020
   Renewal Period                    Not specified
   Escalation Rate                   8% per annum
   Monthly Rental (excl VAT)*        R18,900 / month
   Tenant’s Pro Rata Share           11.59%
   Additional Charges                1. The lessee agrees to pay a proportionate share of increases in the
                                     assessment rates, sanitation, refuse, sewer, basic charges, business surcharge
                                     levy and any other charges imposed by the local authority on the building
                                     during the currency of the lease.
                                     2. The lessee shall be liable for and shall pay on due date all deposits and all
                                     charges levied for electric current and water consumed in the premises, and
                                     all sanitary, sewerage, rubbish and refuse removal fees levied in respect of
                                     the premises.
   ________________________________________________________________________________________________________

                  /AucorProperty                www.aucorproperty.co.za                                                 17
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Rates Statement

                  /AucorProperty                www.aucorproperty.co.za   18
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Zoning Information

                  /AucorProperty                www.aucorproperty.co.za   19
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

   Surveyor General Diagram

      The lease over the area depicted by L1 appears to

      have lapsed. The title deed makes no mention of the

      lease and no other record of the original lease

      document could be obtained through Windeed.

      Prospective purchasers should consult a competent

      professional to verify this.

                       /AucorProperty                       www.aucorproperty.co.za   20
Fully Let Retail Centre – Vanderbijlpark CBD, Vanderbijlpark

                  /AucorProperty                www.aucorproperty.co.za   21
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