Docstoc

HS22 Property report November 2009

Document Sample
HS22 Property report November 2009 Powered By Docstoc
					              Highveld Syndication No 22 Ltd




Highveld Syndication No 22 Ltd
              t/a
 Charles Crescent Syndication

Property report on portfolio for
       November 2009
Prepared by the directors in collaboration
  with the property management team.


                                               Drafted by: Ben van der Linde
                                   Highveld Syndication No 22 Ltd




Cell C Office Blocks, Rivonia, Johannesburg

There are two properties in this group. Both are
occupied by the cellphone company, Cell C.




Primovie Park, Sandton

Primovie Park is situated in Katherine Street,
Sandton. Primovie companies such as
Ster Kinekor form part of the Primedia Group.
This prime tenant has a Triple Net lease
agreement and the property is doing well.
Approximately 14,000m² was refurbished
recently. The property’s entrance is in Charles
Crescent, Sandton.




Ethos Building, Illovo, Johannesburg

This building is occupied by Ethos Private Equity,
a company whose roots go back to 1984. Ethos
Private Equity has been ranked the Number One
Private Equity Firm in South Africa in the
reputable PricewaterhouseCoopers Strategic
Banking Survey since its inception in 2000. This
prime tenant has a Triple Net lease agreement.



                                                                    Drafted by: Ben van der Linde
                                  Highveld Syndication No 22 Ltd




 Charles Crescent Properties                        Figure 1


1 Charles Crescent, Sandton

This property is mainly occupied by the
Johannesburg branch of ADT Security and
Unitrans, an office of Zelpy 2095 and
N. Georgiou Business Consultants. ADT is
planning to extend its rentable office space
by 1,200m². The remaining tenants will relocate
to some of their other properties.




1 Centex Close, Sandton

Centex Close is a very short street adjacent to
Charles Crescent, Sandton. The property is
occupied by Ellerine Holdings Ltd (EHL). The
existing property was refurbished recently, and
this prime tenant has signed a new ten year lease
agreement.



                                                                   Drafted by: Ben van der Linde
                                   Highveld Syndication No 22 Ltd




14 Charles Crescent, Sandton

This property is adjacent to 1 Centex Close, in
Charles Crescent. During August 2008, a
planned development commenced on this
empty stand. When the development was
nearing completion, an article in the April 2009
edition of the Home Goods Retailer (HGR)
reported as follows:

“A spanking new corporate headquarters for Ellerine Holdings is rapidly taking shape in
Katherine Street, Wendywood.
The two building complex occupies prime space on Charles Crescent and is ideally placed
to ensure maximum exposure for the company that houses furniture retail brands Ellerines,
Beares, Furniture City, Geen and Richards, Dial a Bed and Wetherlys.
“Covering 9 500m2 floor space, the building will house all 600 employees previously
situated at the company’s three head offices in Bedfordview, Ellis Park and Durban. The
consolidation will bring the company’s management and operational structures closer
together and reduce costs.
“The move is taking place in stages, as the new buildings are completed to ensure minimal
disruption. The first building, into which the staff from the Gillooly’s head office have
already moved, has been refurbished. In line with the modern approach to business the
company has embarked upon, the traditional offices of old have given way to open plan
efficiency and the interior design manifests the vibrant, open and energetic feel of the
new look company.
“Work on the second building began in August 2008 with an expected completion date of
July 2009.
“Ellerines is also committed to preserving the environment through
various initiatives that are being introduced at the new premises. An
indigenous garden, in which no invader plants will be permitted, will
ensure minimal water requirements. All irrigation will be done
through an extensive natural underground water flow.”

This newly erected building covering 9,500m² is now complete and
forms part of Highveld Syndication No 22.




                                                                    Drafted by: Ben van der Linde
                                   Highveld Syndication No 22 Ltd




10 Charles Crescent, Sandton

In March 2009 this building was still under construction.
The building is now complete, and the new warehouse is
occupied by the Scottish Knitwear Group SA. This
international clothing company manufactures brands
such as the well known Pringle range. This prime tenant
has a Triple Net lease agreement.




9 Charles Crescent, Sandton

This property is fully let, and serves as the
head office for the Scottish Knitwear Group
SA.




                                                                    Drafted by: Ben van der Linde

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:14
posted:3/31/2011
language:English
pages:5