OFFICE VACANCY SURVEY. Introduction. Area Descriptions. Definitions. first quarter RENTABLE AREA 3. GROSS ASKING RENTAL

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1 THE VOICE OF COMMERCIAL PROPERTY Introduction Please note that the total rentable areas will change from time to time as new and revamped buildings come on stream. The Survey is dynamic and data will change as buildings are completed and are up or down-graded. Panelists continue to classify buildings more accurately and, in some areas, the values in the various grades have changed since the last survey. Grade C has now been included for some areas in the survey due to a number of nodes having significant active C grade space. Grade P (Premium) space has also been included in some areas. Please refer to the Area Definitions section to ascertain the boundaries for each area. The statistics only reflect actual occupation even though major leases may have been signed. The results are aggregated from data provided by individual building for a sample of over 70% of properties in the areas covered. The methodology ensures that there is no duplication of data. SAPOA endeavours to ensure that all information published in this survey is as accurate as possible and SAPOA cannot be responsible for errors, omissions or interpretations thereof. Definitions 1. OFFICE BUILDING GRADES 1.1 Grade P Top quality, modern space which is generally a pace-setter in establishing rentals and which includes the latest or a recent generation of building services, ample parking, a prestige lobby finish and good views, or a good environment. 1.2 Grade A Generally not older than fifteen years or which has had a major renovation; high quality modern finishes; air conditioning; adequate on-site parking, market rental near the top of the range in the metropolitan area in which the building is located. (The following should also be taken into account in determining whether the building is A-grade or not: Consider whether the building has a good quality lobby finish, quality access to/from an attractive street environment and other similar factors, such as safety and security.) 1.3 Grade B Generally older buildings, but accommodation and finishes close o modern standards as a result of refurbishments and renovation from time to time, airconditioned; on-site parking, unless special circumstance pertain. 1.4 Grade C Buildings with older style finishes, services and building systems. It may or may not be air-conditioned or have on-site parking. 2. RENTABLE AREA All areas referred to in this survey are rentable areas in conformity with the definition of rentable areas as set out in the SAPOA Method of Measuring Floor Areas in Commercial and Industrial Buildings. Essentially this covers the entire floor, excluding major vertical penetrations of the floor such as stairs, lift shaft, flues, pipe shafts and vertical ducts which serve more than one floor of the building. It includes additional services such as stairs, dumb waiters and lifts which exclusively serve a tenant occupying offices on more than one floor. 3. GROSS ASKING RENTAL Gross Asking Rental is defined as being the full rental being asked including operating costs and municipal costs excluding parking, VAT, electricity/water consumption and internal cleaning. Area Descriptions BEDFORDVIEW/BRUMA This includes the offices around and adjacent Bruma Lake, Eastgate Shopping Centre and Bedford Shopping Centre. In addition the offices adjacent to Gillooly s Farm, Skeen Boulevard as well as along the R22 and R24 in the direction of the Johannesburg International Airport. BRAAMFONTEIN The area bounded by the M1 highway to the west, the railway line to the south, Joubert Street to the east and the Braamfontein Ridge to the north including the Braampark development but excluding any building on the University campus. BRYANSTON/EPSOM DOWNS This area adjacent to the intersection between the Western By-pass and William Nicol Drive, including Peter Place. CBD JOHANNESBURG The area bounded by the M2 and M1 highways to the south and west respectively, the railway to the north and End Street to the east. CONSTANTIA KLOOF BASIN Includes area either side of Hendrik Potgieter Road, including Monash University to the west with the Western bypass to the east. FOURWAYS The area bounded by Uranium Road to the north, Main Road to the east, William Nicol intersection to the south and Waterford Estate to the west HOUGHTON/KILLARNEY Included are the offices in Killarney and Houghton on either side of the M1 highway as well as the Houghton Isle development. SAPOA OFFICE PROVIDED BY IPD. HYDE PARK / DUNKELD The node of the intersection of Jan Smuts Avenue and William Nicol Drive including Dunkeld West, Hyde Park and the upper part of Craighall Park

2 THE VOICE OF COMMERCIAL PROPERTY ILLOVO The office node in Rudd Road, Oxford Road and Illovo Boulevard areas MELROSE / WAVERLEY The area enclosed by Corlett Drive, Oxford Road, Glenhove Road and Atholl- Oaklands / Scott Street as well as the Waverley area across the M1 Highway. MIDRAND This area includes those buildings which are predominantly offices in the Midrand and Halfway House area. MILPARK The area includes the Richmond / Sunnyside office development node, the Milpark developments west of Empire Road. This area also includes the SABC complex and surrounding offices. PARKTOWN This area includes the Parktown nodes adjacent to Jan Smuts Avenue up to the ridge, Central Parktown and the office area around Anerley Road and Sunnyside Park Hotel. RANDBURG The Randburg CBD and extending into Ferndale, north to Bond Street, west to Hans Strijdom Drive and east along Hendrik Verwoerd Drive into Jan Smuts Avenue adjoining Bordeaux, up to Republic Road. Also continuing south along both sides of Hendrik Verwoerd until Conrad Drive in Blairgowrie. RIVONIA This area is the Rivonia office node along Rivonia Road south of the motorway up to and including 3rd Avenue. Morningside is the area from the south side of 3rd Avenue, Rivonia to Summit Road. ROSEBANK The area bounded by Bolton Road, Jan Smuts Avenue, Oxford Road and Jellicoe Avenue. Also includes sundry buildings in Parkwood and Parktown North along the major arterial roads. SANDTON AND ENVIRONS The Sandton Central Business District area, Sandown, Wierda Valley and Hurlingham Manor. The office buildings along Katherine Street including Pinmill Farm up to the Eastgate highway on-ramp. CAPE TOWN AND ENVIRONS CAPE TOWN CITY Includes properties falling into the area and fronting onto Chiappini Street to the west, Gardens to the south, Tenant Street to the east and the Harbour Freeway to the north. CAPE TOWN SUBURBS Include Bellville, Claremont and Pinelands, Newlands and Rondebosch. DURBAN AND ENVIRONS DURBAN CITY AREA The area bounded by Victoria Embarkment and Winder Street to the south, the railway line, Cross Street, First Avenue and Stamford Hill Road to the west, Argyle Road to the north and Brickhill and Point Roads to the east. DURBAN SUBURBS Include Berea, Umhlanga / La Lucia and Westville. PRETORIA AND ENVIRONS ARCADIA Is bounded by Du Toit Street to the west, Hill Street to the east, Schoeman and Park Streets to the south and Belvedere Street to the north. BROOKLYN The area bounded by Queen Wilhelmena Drive, Lynnwood Road, Brooklyn Road, First Street, Ox Street and Main Road, incorporating Nieuw Muckleneuk. CBD PRETORIA Is bounded by Potgieter Street to the west, Boom Street to the north, Scheiding Street to the south and Du Toit / Van Boeshoten Street to the east. CENTURION Is bounded by Main Road to the east, Nelmapius Drive to the south, Ben Schoeman Highway to the west and Jean Avenue to the north. HATFIELD / HILLCREST Is bounded by Church Street to the north, Duncan and Brooklyn Streets to the east, Festival Street to the west and Lynnwood Street to the south. HIGHVELD TECHNOPARK This area is located within the municipal boundaries of Centurion and is bounded by the N1 to the north, Johan Vorster Drive to the east and the Highveld residential townships and extensions to the south. LYNNWOOD Is bounded by Brooklyn Road to the west, the N4 Freeway to the north, General Louis Botha to the east and Garsfontein Road to the south. MENLYN Is bounded by the N1 Freeway to the west, Ingersol and Kelvin Streets to the north, General Louis Botha to the east and Atterbury Road and Garsfontein Road to the south. PRETORIA EASTERN SUBURBS Is bounded by Hans Strijdom to the south and east, Fountain Circle, Kempton Park/ Johannesburg International Airport Highway, Brooklyn and Dely Streets to the west, Pretoria Road, Silverton to the north. (Excluding Arcadia, Hatfield, Brooklyn and Sunnyside as defined). Also included in the area bounded by the R21 Freeway to the west, Elardus Park to the north, Goede Hoop Street to the east and Nelmapius Drive to the south. SUNNYSIDE Is bounded by Park Street to the north, Johnston Street to the east, Walker Street to the south and Du Toit / Van Boeshoten to the west.

3 BEDFORDVIEW A 92,590 5, ,200 1,700 - B 88,210 2, C 26, TOTAL 207,250 9, One B-grade building converted to residentia BRAAMFONTEIN A 193,400 10, B 154,488 22, C 136,625 28, TOTAL 484,513 62, BRYANSTON/EPSOM DOWNS P 75, ,894 14, A 283,602 9, B 18,041 1, C 18,687 3, TOTAL 395,330 14, BRUMA A 48,200 1, B 35,496 4, TOTAL 83,696 5, CBD JOHANNESBURG P 24, A 689,200 57, B 632, , C 288,367 63, TOTAL 1,633, , FOURWAYS A 96,328 5, , B 2, TOTAL 98,728 5, HOUGHTON/KILLARNEY A 56,779 2, B 36,188 3, TOTAL 92,967 6,

4 THE VOICE OF COMMERCIAL PROPERTY HYDE PARK/DUNKELD A 30, B 78,355 11, TOTAL 109,314 11, ILLOVO A 112, ,304 8, B 23,824 1, TOTAL 136,159 1, MELROSE/WAVERLEY P 43, ,200 26,000 - A 34, B 15,163 1, TOTAL 92,741 2, MIDRAND P 107, ,800 2,800 - A 245,104 29, B 154,485 16, C 12,842 2, TOTAL 520,190 49, MILPARK A 27, B 195,080 7, C 54, TOTAL 277,480 7, MORNINGSIDE A 41,755 9, , TOTAL 41,755 9, PARKTOWN A 71,005 5, B 183,830 11, C 64,546 9, TOTAL 319,381 26, RANDBURG A 115,645 14, ,000 6, B 252,741 26, C 125,536 27, TOTAL 493,922 68,

5 RIVONIA A 45,701 2, B 162,280 21, C 45,741 16, TOTAL 253,722 40, ROSEBANK A 112,260 6, B 167,416 20, C 21,100 2, TOTAL 300,776 30, SANDTON & ENVIRONS P 153, ,262 31, A 731,582 67, B 283,541 38, C 31,187 11, TOTAL 1,199, , SUNNINGHILL A 304,607 14, ,300 6, TOTAL 304,607 14, *Q vacancy rate incorrectly shown as 10% - should have been 6.1% WOODMEAD A 247,341 4, ,957 11,957 - B 17,800 4, TOTAL 265,141 8, *One building downgraded to B grade CAPE TOWN AND ENVIRONS BELLVILLE P 56, ,483 15,333 - A 284,382 12, B 102,848 5, TOTAL 443,830 17, CBD CAPE TOWN P 25, ,000 13,500 - A 398,785 19, B 296,836 25, TOTAL 721,121 45, CENTURY CITY P 16, ,000 8,000 - A 64,938 2, B 2, TOTAL 84,208 2,

6 THE VOICE OF COMMERCIAL PROPERTY CAPE TOWN AND ENVIRONS CLAREMONT A 69,236 2, B 27, TOTAL 96,521 2, PINELANDS A 201, B 19, TOTAL 221, RONDEBOSCH/NEWLANDS A 66, B 35, TOTAL 101,831 1, WATERFRONT P 37, A 39,015 7, B 7, TOTAL 83,386 7, DURBAN AND ENVIRONS BEREA A 31,596 1, B 41,446 1, C 29,052 2, TOTAL 102,094 5, CBD DURBAN A 114,038 1, ,831 6,831 - B 119,742 6, C 443,102 67, TOTAL 676,882 75, UMHLANGA/LA LUCIA P 4, ,181 2, A 141,638 2, B 22,932 7, C TOTAL 169,276 10, WESTVILLE A 42,867 3, B 76,364 1, TOTAL 119,231 5,

7 PRETORIA AND ENVIRONS ARCADIA A 79, B 37, C 87,380 3, TOTAL 204,239 3, BROOKLYN A 128,609 1, ,000 2, B 36, TOTAL 164,870 1, CBD PRETORIA A 134,557 2, B 231,700 6, C 105,804 29, TOTAL 472,061 38, CENTURION A 94,751 2, ,198 25, B 155, TOTAL 250,564 2, HATFIELD/HILLCREST A 135,900 2, ,000 10, B 78,773 1, TOTAL 214,673 4, HIGHVELD TECHNOPARK P 17, A 145, B 37,752 1, TOTAL 200,408 2, LYNWOOD P 2, , A 45,530 3, B 75, C 19, TOTAL 142,752 3, MENLYN P ,000 2, A 108,580 2, B 16, TOTAL 125,130 3, PTA EASTERN SUBURBS A 79,835 3, ,780 23, B 113,624 2, C 22, TOTAL 216,277 6, SUNNYSIDE C 61,984 3, TOTAL 61,984 3,

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