LENASIA PROPERTY AUCTION

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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PRIME OFFICE BUILDING – 10 Year Lease

FERNDALE RANDBURG

SINGLE TENANT - TRIPLE NET LEASE

272 Kent Avenue l Ferndale, Randburg

Erf 1070 Ferndale

PROPERTY AUCTION

WH Auctioneers Properties (PTY) Ltd

578 16th Road, Randjespark, Midrand

Tel: 0115745700

www.whauctions.com

Auction Date: Thursday 13 February 2020 @ 12pm

Venue: WH Auctioneers Head Office – 578 16th Road Randjesark Midrand

Auctioneer: Daniel Pelkowitz

Contact for further info:

Daniel Pelkowitz

Cell: 072 360 7510

Email: danielp@whauctions.com

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

Index

1. Guideline to Auction Page 3

2. General Page 4

3. Title Deed Information Page 4

4. Locality Page 4

5. Description of Improvements Page 7

6. Rent Roll & Financials Page 8

7. Site Layout Page 10

8. Site Photographs Page 11

9. Lease Extract Page 13

10. Municipal Account Page 18

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

1. GUIDELINE FOR THE AUCTION

Auction Date & Venue: Thursday 13 February 2020 @12pm – WH Head Office – 578 16th Road, Midrand

Registration: Bidders can register at any time prior to auction or from 12:00pm on auction day at the above-

mentioned venue. Identity and FICA documents are required in order to register for the auction.

All potential buyers are required to pay a registration fee of R25 000 in order to bid at the auction. This amount

can be paid either by bank guaranteed cheque or EFT into the Auctioneer’s trust account.

Cash will NOT be accepted at the venue.

Once registered each buyer will be issued with a buyer’s card reflecting a buyer’s number.

Upon signature of the registration documents, all buyers will have acknowledged and accept the Terms and

Conditions set out in the Rules of Auction.

Registration Fee: 25 000.00 (Refundable to unsuccessful bidders)

Deposit: 21.5% of hammer price

Confirmation period: 7 Business days.

Balance of the purchase price payable within 21 business days after confirmation of sale.

The bid price excludes the buyer’s premium which is payable over and above the purchase price.

Example: Highest bid with buyer’s premium

Bid Price: R 1 000 000

Buyers comm. (10%) R 100 000

15% VAT on the Buyer’s Premium R15 000

Total Purchase Price R 1 115 000

The auctioneers have the right to regulate the bidding at the auction and to bid on behalf of the seller up to (but

not exceeding) the reserve price as mandated by the seller. When the auctioneer knocks down the property to the

highest bidder the successful bidder will sign the Conditions of Sale on the day.

A deposit of 21.5% is payable on the fall of the hammer. This percentage is made up of the commission

payable by the successful bidder of 10% plus VAT (namely, 11.5%) plus a 10% deposit on the purchase

price of the Property.

The deposit is payable by way of a Bank Guaranteed cheque or electronic transfer. The deposit and buyer’s

premium are deposited into the WH Auctioneers Trust account.

For queries regarding the properties on auction contact:

Daniel Pelkowitz: 072 360 7510

WH Auctioneers offices: 011 574 5700

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

2. GENERAL

Property Address: 272 Kent Avenue Ferndale, Randburg

Erf & Suburb & City: Erf 1070 Ferndale, Randburg, Gauteng

3. TITLE DEED INFORMATION

Deeds Office: Johannesburg

Title Deed No. T79451/2016

Erf Size: 4 015m2

GLA: 2 526m2

4. LOCALITY

Ferndale is a suburb of Johannesburg, South Africa. It is located in Region B of the City of Johannesburg

Metropolitan Municipality. The area, located in the region of Randburg is very central and has a good mix of

residential homes, shops and commercial property. It is very close to Sandton with its main route, Wlliam Nicol,

extending to Bryanston and Fourways.

Ferndale is home to Multichoice with offices on either side of Bram Fischer Drive between Republic Road and

Grove Street.

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 6

Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

5. DESCRIPTION OF IMPROVEMENTS

The subject property comprises a large, double storey office building solely occupied by Pomegranate Media. The

erf measures 4 015m2 with a Gross Lettable Area (GLA) of 2 526m2.

The building comprises A Grade office space located in in the CBD of Randburg. The building contains numerous

offices, boardrooms, media rooms, a gym, central air-conditioning, large central atrium and ample open and

basement parking bays.

The lights and air-conditioning in the building are motion sensored to assist in energy efficiency. The building

also has a full fire detection system.

The building also has a large generator (located in the basement) which powers all emergency lighting and “red

plug points” in the building.

There is a canteen, numerous kitchens and ablution facilities.

Parking

The building has ample parking - 40 shaded bays and 49 basement parking bays.

Summary

Roof: Tiles Pitched Roof

External Walls: Facebrick

Internal Walls: Plastered and painted brickwork as well as prefab walling

External Floors: Concrete and interlocking brickwork

Internal floors: Carpet and tiles

Condition: The property is in a good condition. All maintenance and upkeep is managed by the

owners directly through JHI Excelerate.

A structural survey of the building has not been undertaken and will not form

part of this report. All structural and maintenance information are as per

information provided by the owners upon visiting the site.

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

6. RENT ROLL & FINANCIALS

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

CURRENT NET ANNUAL RENTAL: R3 304 872

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

7. SITE LAYOUT

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

8. SITE PHOTOGRAPHS

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

9. LEASE EXTRACT

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal

10. MUNICIPAL ACCOUNT

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 19

Corporate Disposal

PRIME SINGLE TENANT OFFICE BUILDING – FERNDALE, RANDBURG

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Corporate Disposal