COMMERCIAL PROPERTY REPORT February 2014

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1 COMMERCIAL PROPERTY REPORT February This report highlights property transactions with a value of more than R5million that have occurred since January 2013 and should be viewed in conjunction with the Property section in 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: Fax: Moraine House, The Braes,193 Bryanston Drive Bryanston, Johannesburg, South Africa SA Revealed (Pty) Ltd Registration Number 2011/112308/07

2 OVERVIEW OF REPORT AND WEBSITE This COMMERCIAL PROPERTY REPORT and the PROPERTY section of the SA Revealed website 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 ( Node ) and buyer ( Owner ) 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

3 1 February Summary The data reflects transactions over R5million that were processed through the Deeds Office from January 2013, showing transactions for the month of February, the cumulative position for the current year, and the full view for Executive Summary The following are the highlights for February : The overall transactions for February are significantly higher than average but this has been mainly caused by the transfer of property into Accelerate Property Fund and Orthotouch, which are related transactions. This has resulted in the Listed Property and Second Tier segments being much higher than normal. The Johannesburg dominance in Investment is again shown by a full 50% of the transactions taking place in this municipality There is significant investment in Residential Development and Rental stock. IHS is a significant player in this sector having purchased R500million worth of residential property Land restitution continues with an additional R129million spent purchasing farm land in the name of the State and the name of local Co-Operatives. Mount Nelson Hotel in Cape Town has taken out a R225mill bond Investec has started off aggressively having taken 50% of all new bonds in February and 43% in the first two months Bonds registered at R8 361million is higher than January and the 2013 monthly average Top areas over past 13 months (based on small hexagon layer - the Hexagon ID is shown below and can be Searched on the map): DESCRIPTION ID INVESTMENT Johannesburg - Central Sandton ,298,108 Pretoria - Central Pretoria CBD ,296,495 Port Elizabeth - Bay West area in Port Elizabeth ,260,000 Johannesburg - North Western Sandton ,714,657 Cape Town - East Cape Town CBD and Woodstock ,342,121 Stellenbosch - Stellenbosch ,325,469 Cape Town - South Cape Town CBD ,237,800 Johannesburg - Eastern Johannesburg CBD ,219,933 Cape Town - Downtown Cape Town CBD ,170,044 Pretoria - Eastern Pretoria CBD ,166,603 3

4 Segmental Analysis 1.1 Owner Segment The transactional activity is broken into the following Owner segments (Rand Mill): OWNER SEGMENT 2013 YTD February LISTED PROP COMP 21,999 22% 7,703 35% 6,346 44% COMMERCIAL 53,117 53% 7,233 33% 3,891 27% SECOND TIER 2,542 3% 2,829 13% 1,402 10% TRUST 11,979 12% 1,992 9% 1,344 9% BANK 2,253 2% 675 3% 614 4% RESIDENTIAL DEVELOPMENT 1,797 2% 675 3% 578 4% STATE 3,250 3% 408 2% 56 0% CO-OPERATIVE 2,039 2% 131 1% 73 1% MINES 1,055 1% 78 0% 59 0% EDUCATION 52 0% 41 0% 41 0% MUNIC 442 0% 36 0% 6 0% CHURCH OR COLLEGE 60 0% 27 0% 20 0% INVESTMENT 124 0% 10 0% 10 0% STUDENT ACCOMMODATION 65 0% 0 0% 0 0% Total 100,774 21,838 14,440 Table 1: Transactions by Owner Segment The Commercial Segment will reduce and the Second Tier and Residential Development segments will increase, over time, as the companies are being researched and classified into the appropriate owner segments. 4

5 1.2 Highest Transactions and Bonds The following highlights are noted from the February data: Nationally, the top 10 transactions were: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 944,000,000 NEWSHELF 1167 PROPRIETARY LIMITED UNITED NATIONAL BREWERIES S A PROPRIETARY LTD NSELENI A~1541~00000 WEMBEZI A~1242~00000 WEMBEZI A~2291~00000 WEMBEZI A~2314~00000 NSELENI WEMBEZI A WEMBEZI A WEMBEZI A 2 935,181,961 ACCELERATE PROP FUND LTD PRECINCT PTY LTD ~1698~00000 JOHANNESBURG ,107,000 ACCELERATE PROP FUND LTD HIGHVELD SYNDICATION NO 18 LTD ~1699~00000 JOHANNESBURG - ~1700~00000 JOHANNESBURG - ~1701~00000 JOHANNESBURG - ~1714~00000 JOHANNESBURG - ~1715~00000 JOHANNESBURG - MELVILLE JHB~213~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~214~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~960~00000 MELVILLE JOHANNESBURG - PARKTOWN 4 736,485,122 ABSA BANK LIMITED DURBAN NORTH~3448~00019 RED HILL DURBAN - NORTH CAPITAL PROPERTY TRUST-TRUSTEES DURBAN NORTH~3448~00019 RED HILL DURBAN - NORTH 5 732,121,655 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~862~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~863~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~864~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~918~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~919~00000 WITKOPPEN JOHANNESBURG ,840,977 SAPPI MANUFACTURING PTY LTD ET~16712~00000 UMKOMAAS SAPPI SOUTHERN AFRICA LIMITED ET~16712~00000 UMKOMAAS 7 262,200,000 A B S A BANK LTD CITY & SUBURBAN~1216~00000 CITY & SUBURBAN JOHANNESBURG - MORE PROPERTIES ON TITLE DEED DIPPOLDESWALDE PROP PTY LTD CITY & SUBURBAN~1217~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~145~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~146~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~139~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~140~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~141~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~142~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~143~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~144~00000 CITY & SUBURBAN JOHANNESBURG ,024,007 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~867~00000 WITKOPPEN JOHANNESBURG ,713,564 SAPPI MANUFACTURING PTY LTD ET~10746~00000 SAPPI SOUTHERN AFRICA LIMITED WITKOPPEN~868~00000 WITKOPPEN JOHANNESBURG - ET~10866~00000 ET~10866~00001 ET~12571~00000 ET~14628~00000 ET~3628~00000 ET~4584~00000 ET~4591~00000 ET~4592~00000 ET~4641~00000 ET~10746~

6 9 247,713,564 SAPPI SOUTHERN AFRICA LIMITED ET~10866~00000 MORE PROPERTIES ON TITLE DEED ET~10866~00001 ET~12571~00000 ET~14628~00000 ET~3628~00000 ET~4584~00000 ET~4591~00000 ET~4592~00000 ET~4641~ ,999,310 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~1362~00000 WITKOPPEN JOHANNESBURG - MORE PROPERTIES ON TITLE DEED WITKOPPEN~1363~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1367~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1368~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1611~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1612~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1783~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1784~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1785~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1786~00000 WITKOPPEN JOHANNESBURG - 1. Transactions relate to the purchase of the United National Breweries by an Indian Brewing company 2. Related owner transfer of properties into the Accelerate Property Fund as at listing on JSE 3. As above 4. Constantia Park - Light industrial business park in Redhill, Durban 5. As per 2 above 6. Land purchased in Umkomaas, KZN - around 2km from SAICCOR plant 7. Purchase of various ABSA buildings on the ABSA campus in Johannesburg CBD 8. As per 2 above 9. Forestry plantations purchased on KZN South Coast 10. As per 2 above 6

7 The top 10 bonds were: Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 2,009,010,000 GROWTHPOINT PROP LTD INVESTEC SANDOWN~4~00018 SANDOWN JOHANNESBURG - SANDTON 2 600,000,000 IMA RENT COLLECTOR CC INVESTEC BALLITOVILLE~3557~00000 SIMBITHI BALLITOVILLE~3574~00000 BALLITO COMMERCIAL AREA 3 350,000,000 CENTURION VISION DEVELOPMENT PTY LTD INVESTEC HIGHVELD~3082~00000 PRETORIA - CENTURION HIGHVELD~3086~00000 HIGHVELD~3087~00000 HIGHVELD~3088~00000 PRETORIA - CENTURION PRETORIA - CENTURION PRETORIA - CENTURION 4 225,000,000 A B S A BANK LTD ABSA HUGHES~230~00000 HUGHES EKURHULENI - BOKSBURG 5 225,000,000 MOUNT NELSON COMMERCIAL PROP PTY LTD STANDARD CAPE TOWN~152957~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MOUNT NELSON HOTEL LTD STANDARD CAPE TOWN~94924~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94933~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94934~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94935~00000 CAPE TOWN~94936~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94937~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94938~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94940~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MOUNT NELSON RESIDENTIAL PROP PTY LTD STANDARD CAPE TOWN~167829~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MORE PROPERTIES ON TITLE DEED 6 214,000,000 S H M INV HOLDINGS CC INVESTEC ROSEBANK~247~00000 JOHANNESBURG - HYDEPARK/ROSEBANK 214,000,000 SPAREPROPS PTY LTD INVESTEC ROSEBANK~247~00000 JOHANNESBURG - HYDEPARK/ROSEBANK 7 180,000,000 CITY OF JOHANNESBURG NEDBANK WYNBERG PTA~40~00000 WYNBERG JOHANNESBURG - WYNBERG 8 160,000,000 WILCOPROP 202 PTY LTD INVESTEC HOMES HAVEN~813~00000 WYNBERG PTA~42~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~43~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~44~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~45~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~46~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~47~00000 WYNBERG JOHANNESBURG - WYNBERG 9 160,000,000 LITTLE RIVER TRADING 191 PTY LTD NEDBANK ILLOVO~454~00002 ILLOVO JOHANNESBURG - MELROSE ,000,000 SENTRAAL SUID KOOP LTD OTHER BANK HEIDELBERG CAPE~712~00000 HEIDELBERG MONTAGU RD~158~00044 SWELLENDAM RD~294~00014 SWELLENDAM RD~294~00017 SWELLENDAM RD~294~00018 These properties are: 1. Bond granted over Investec Head Office in Sandton 2. Vacant land in Ballito right on N2 and Ballito Drive 3. Vacant land between Irene and N1 in Centurion 4. Industrial properties in Hughes, Ekurhuleni 5. All properties associated with the Mount Nelson Hotel in Cape Town 6. Property in Jellicoe Road, Rosebank 7. Property bordering on Alexandra, Johannesburg 8. Residential property estate in Homes Haven (near Silverstar Casino) 9. Property on corner of Ferguson and Melville Roads, Illovo 10. Various grain silos in Western Cape 7

8 2 Geographic Spread The geographic spread (R Million) is: Municipality Principal Town 2013 YTD February CITY OF JOHANNESBURG JOHANNESBURG 20, % 8,491 39% 7,290 50% CITY OF CAPE TOWN CAPE TOWN 13, % 3,657 17% 1,777 12% ETHEKWINI DURBAN 9, % 1,817 8% 876 6% CITY OF TSHWANE PRETORIA 12, % 1,273 6% 855 6% EKURHULENI GERMISTON 7, % 1,022 5% 816 6% UNALLOCATED 3, % 379 2% 209 1% CITY OF MATLOSANA KLERKSDORP % 331 2% 0 0% MBOMBELA NELSPRUIT 1, % 329 2% 253 2% GREATER TZANEEN TZANEEN % 257 1% 0 0% NELSON MANDELA BAY PORT ELIZABETH 1, % 236 1% 203 1% STELLENBOSCH STELLENBOSCH % 211 1% 173 1% SOL PLAATJIE KIMBERLEY % 169 1% 117 1% CAPE AGULHAS BREDASDORP % 163 1% 160 1% UMTSHEZI ESCOURT % 148 1% 127 1% VULAMEHLO VULAMEHLO 0 0.0% 124 1% 124 1% RUSTENBURG RUSTENBURG 1, % 106 0% 0 0% ALBERT LUTHULI CAROLINA % 104 0% 89 1% THE MSUNDUZI PIETERMARITZBURG 1, % 103 0% 81 1% UMLALAZI ESHOWE % 96 0% 0 0% BUFFALO CITY EAST LONDON % 96 0% 6 0% UMHLATHUZE RICHARDS BAY % 88 0% 80 1% HIBISCUS COAST PORT SHEPSTONE % 87 0% 25 0% EMFULENI VANDERBIJL PARK % 80 0% 48 0% KWADUKUZA STANGER % 78 0% 6 0% EMALAHLENI WITBANK % 73 0% 35 0% OTHER 23, % 2,325 11% 1,098 8% 100,774 21,843 14,448 The main points of interest are: 1. The high level of investment in Johannesburg is exaggerated by the Accelerate and Orthotouch registrations, but this emphasises where the Listed Companies invest. 2. The level of investment in the Secondary Municipalities is extremely low when considering the populations of these cities. The total investment in February for Nelson Mandela Bay (Port Elizabeth), Buffalo City (East London), Manguang (Bloemfntein) and The Msunduzi (Pietermaritburg) is a paltry R318million 8

9 2.1 Nodes within Municipalities A breakdown of the nodes within the major cities highlights the areas of strong activity: City of Cape Town Cape Town Nodes Price Range 2013 YTD February A: R5mill-R10mill 1,927 14% 329 9% 161 9% B: R10mill-R50mill 4,876 36% 1,123 31% % C: R50mill-R100mill 1,930 14% % % D: Above R100mill 4,770 35% 1,639 45% % Total 13,503 3,657 1,776 Node 2013 YTD February CAPE TOWN - CENTRAL 3,155 23% 1,871 51% % CAPE TOWN - NORTHERN SUBURBS 516 4% 331 9% % CAPE TOWN - SOUTHERN SUBURBS 2,194 16% 315 9% % CAPE TOWN - SOMERSET WEST 799 6% 303 8% % CAPE TOWN - ATLANTIC SEABOARD 1,560 12% 264 7% % CAPE TOWN - VOORTREKKER ROAD 1,441 11% 223 6% 90 5% CAPE TOWN - TABLE VIEW 2,357 17% 174 5% 93 5% CAPE TOWN - EAST 553 4% 119 3% 92 5% CAPE TOWN - CAPE FLATS 338 3% 29 1% 29 2% NOT ALLOCATED 590 4% 29 1% 0 0% 13,503 3,658 1,777 9

10 The top 10 transactions which occurred in February are: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 121,000,000 GROWTHPOINT PROP LTD ERIS PROP GROUP PTY LTD BELLVILLE~40301~00000 CAPE TOWN - NORTHERN SUBURBS 2 114,130,662 ORTHOTOUCH LTD KIA JOY TRUST BELLVILLE~34109~00000 RIDGEWORTH CAPE TOWN - NORTHERN SUBURBS 3 112,118,695 ACCELERATE PROP FUND LTD KIA JOY TRUST ROGGEBAAI~230~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 4 76,000,000 STADIUM ON MAIN INV PTY LTD OLD MUTUAL LIFE ASSURANCE CO SOUTH AFRICA LTD 5 74,670,000 QUEENSGATE LEISURE HOLDINGS PTY LTD CAPE TOWN~161547~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS LOUIS GROUP QUEENSGATE TRUST GREEN POINT~1976~00000 MOUILLE POINT CAPE TOWN - ATLANTIC SEABOARD 6 71,887,440 ACCELERATE PROP FUND LTD SCHAEFFER TECHNOLOGIES TRUST STELLENBOSCH RD~794~00075 SOMERSET WEST RETAIL PARK CAPE TOWN - SOMERSET WEST 7 64,182,108 ACCELERATE PROP FUND LTD SCHAEFFER TECHNOLOGIES TRUST STELLENBOSCH RD~794~00079 SOMERSET WEST RETAIL PARK CAPE TOWN - SOMERSET WEST 8 58,709,342 ACCELERATE PROP FUND LTD SCHAEFFER TECHNOLOGIES TRUST CAPE TOWN~8430~00000 CAPE TOWN CENTRE CAPE TOWN - CENTRAL 9 58,326,791 ORTHOTOUCH LTD SCHAEFFER TECHNOLOGIES TRUST CAPE TOWN~170672~00000 ZONNEBLOEM CAPE TOWN - CENTRAL 10 56,088,706 ACCELERATE PROP FUND LTD SCHAEFFER TECHNOLOGIES TRUST CAPE TOWN~166999~00000 ELFINDALE CAPE TOWN - SOUTHERN SUBURBS 1. Retail property near Tygervalley Shopping Centre in Bellville 2. Retail property near Tygervalley Shopping Centre in Bellville 3. Commercial property on Cape Town Foreshore 4. Commercial property in Grove Road Claremont Cape Town 5. Radisson Hotel on Moullie Point, Cape Town 6. Accelerate Property Fund building listing portfolio 7. As above 8. As above 9. Commercial building opposite Castle in Cape Town 10. Constantiaberg Business Park in Elfindale, Cape Town The top 10 mortgages registered in February are: Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 225,000,000 MOUNT NELSON COMMERCIAL PROP PTY LTD STANDARD CAPE TOWN~152957~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MOUNT NELSON HOTEL LTD STANDARD CAPE TOWN~94924~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94933~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94934~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94935~00000 CAPE TOWN~94936~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94937~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94938~00000 GARDENS CAPE TOWN - CENTRAL CAPE TOWN~94940~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MOUNT NELSON RESIDENTIAL PROP PTY LTD STANDARD CAPE TOWN~167829~00000 GARDENS CAPE TOWN - CENTRAL 225,000,000 MORE PROPERTIES ON TITLE DEED 2 102,000,000 STADIUM ON MAIN INV PTY LTD ABSA CAPE TOWN~171785~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 3 100,000,000 K S K TRUST NEDBANK CAPE TOWN~56461~00000 BISHOPSCOURT CAPE TOWN - SOUTHERN SUBURBS CONSTANTIA~11566~00000 SILLERY CAPE TOWN - SOUTHERN SUBURBS 4 90,000,000 BLUE BANTRY INV 235 PTY LTD NEDBANK CAPE RD~1165~00004 CAPE TOWN - NORTHERN SUBURBS 5 77,000,000 STADIUM ON MAIN INV PTY LTD INVESTEC CAPE TOWN~148632~00000 CLAREMONT CAPE TOWN - SOUTHERN SUBURBS 6 75,000,000 CENTURY BLUE TRUST NEDBANK MONTAGUE GARDENS~5430~00000 CENTURY CITY CAPE TOWN - TABLE VIEW MONTAGUE GARDENS~5563~00000 CENTURY CITY CAPE TOWN - TABLE VIEW MONTAGUE GARDENS~6283~00000 CENTURY CITY CAPE TOWN - TABLE VIEW 7 74,600,000 QUEENSGATE LEISURE HOLDINGS PTY LTD INVESTEC GREEN POINT~1976~00000 MOUILLE POINT CAPE TOWN - ATLANTIC SEABOARD 8 60,000,000 DAIRYBELLE PTY LTD STANDARD CAPE TOWN~107236~00000 EPPING INDUSTRIAL CAPE TOWN - VOORTREKKER ROAD CAPE TOWN~112227~00000 EPPING INDUSTRIAL CAPE TOWN - VOORTREKKER ROAD 9 60,000, MAIN ROAD GREEN POINT PTY LTD FIRSTRAND GREEN POINT~2093~00000 THREE ANCHOR BAY CAPE TOWN - ATLANTIC SEABOARD 60,000,000 STAR TRUST FIRSTRAND GREEN POINT~2093~00000 THREE ANCHOR BAY CAPE TOWN - ATLANTIC SEABOARD 10 55,000,000 CENTURY CITY CLINIC PROP PTY LTD NEDBANK MONTAGUE GARDENS~6874~00000 CAPE TOWN - TABLE VIEW 1. All properties associated with the Mount Nelson Hotel in Cape Town 2. Commercial property in Claremont Cape Town 3. Luxury properties in Constantia and Bishopscourt 4. Residential development land north of Durbanville 5. Stadium on Main Shopping Centre in Claremont Cape Town 6. Commercial offices in Century City 7. Radisson Hotel on Moullie Point, Cape Town 8. Industrial premises in Epping 9. Property in Main Road Green Point 10. Vacant land in Century City 10

11 2.1.2 City of Johannesburg Johannesburg Nodes Price Range 2013 YTD February A: R5mill-R10mill 2,261 11% 441 5% 304 4% B: R10mill-R50mill 6,351 31% 1,026 12% % C: R50mill-R100mill 3,745 18% 1,462 17% 1,127 15% D: Above R100mill 8,149 40% 5,561 66% 5,046 69% 20,506 8,490 7,290 Node 2013 YTD February JOHANNESBURG % 2,640 31% 2,623 36% JOHANNESBURG - PARKTOWN 440 2% % % JOHANNESBURG - WYNBERG 319 2% 732 9% % JOHANNESBURG - MIDRAND/KYALAMI 2,028 10% 617 7% 413 6% JOHANNESBURG - SUNNINGHILL/RIVONIA 922 4% 570 7% 475 7% JOHANNESBURG - SANDTON 2,891 14% 442 5% 85 1% JOHANNESBURG - 1,821 9% 414 5% 382 5% JOHANNESBURG - HENDRICK POTGIETER 618 3% 391 5% 384 5% JOHANNESBURG - ROODEPOORT 690 3% 336 4% 326 4% JOHANNESBURG - DENVER/KENSINGTON/BRUMA 220 1% 240 3% 173 2% JOHANNESBURG - KLIPRIVIERSBERG 15 0% 224 3% 224 3% JOHANNESBURG - RANDBURG 2,348 11% 192 2% 97 1% JOHANNESBURG - HYDEPARK/ROSEBANK 1,225 6% 177 2% 65 1% JOHANNESBURG - BRYANSTON 843 4% 156 2% 46 1% JOHANNESBURG -SOUTH 1,760 9% 152 2% 113 2% JOHANNESBURG - CRESTA/FAIRLAND 286 1% 89 1% 89 1% JOHANNESBURG - SOWETO 232 1% 78 1% 78 1% JOHANNESBURG - MELROSE 806 4% 48 1% 0 0% JOHANNESBURG - HOUGHTON ESTATE 504 2% 21 0% 21 0% JOHANNESBURG - LINBRO PARK/GREENSTONE 686 3% 19 0% 19 0% JOHANNESBURG - MALIBONGWE 546 3% 15 0% 8 0% JOHANNESBURG - ORANGE FARM 121 1% 0 0% 0 0% NOT ALLOCATED 300 1% 0 0% 0 0% 20,508 8,489 7,289 11

12 The top 10 transaction in February are: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 935,181,961 ACCELERATE PROP FUND LTD PRECINCT PTY LTD ~1698~00000 JOHANNESBURG - ~1699~00000 JOHANNESBURG - ~1700~00000 JOHANNESBURG - ~1701~00000 JOHANNESBURG - ~1714~00000 JOHANNESBURG - ~1715~00000 JOHANNESBURG ,107,000 ACCELERATE PROP FUND LTD HIGHVELD SYNDICATION NO 18 LTD MELVILLE JHB~213~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~214~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~960~00000 MELVILLE JOHANNESBURG - PARKTOWN 3 732,121,655 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~862~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~863~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~864~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~918~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~919~00000 WITKOPPEN JOHANNESBURG ,200,000 A B S A BANK LTD CITY & SUBURBAN~1216~00000 CITY & SUBURBAN JOHANNESBURG - MORE PROPERTIES ON TITLE DEED CITY & SUBURBAN~1217~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~145~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~146~00000 CITY & SUBURBAN JOHANNESBURG - DIPPOLDESWALDE PROP PTY LTD CITY & SUBURBAN~139~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~140~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~141~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~142~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~143~00000 CITY & SUBURBAN JOHANNESBURG - CITY & SUBURBAN~144~00000 CITY & SUBURBAN JOHANNESBURG ,024,007 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~867~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~868~00000 WITKOPPEN JOHANNESBURG ,999,310 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~1362~00000 WITKOPPEN JOHANNESBURG - MORE PROPERTIES ON TITLE DEED 7 217,133,633 INTERNATIONAL HOUSING SOLUTIONS RESIDENTIAL PARTNERS 1 RF PTY LTD WITKOPPEN~1363~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1367~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1368~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1611~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1612~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1783~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1784~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1785~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1786~00000 WITKOPPEN JOHANNESBURG - NATURENA~3030~00000 NATURENA JOHANNESBURG - KLIPRIVIERSBERG NATURENA~3031~00000 LENARON AH JOHANNESBURG - KLIPRIVIERSBERG 8 216,434,338 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD EASTGATE~265~00000 EASTGATE JOHANNESBURG - WYNBERG 9 184,020,000 DELTA PROP FUND LTD CAPITAL PROP TRUST SUNNINGHILL~1366~00000 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA SUNNINGHILL~1366~00002 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA SUNNINGHILL~1366~00003 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA ,380,241 INTERNATIONAL HOUSING ZOTEC DEVELOPMENTS PTY LTD HALFWAY GARDENS~1399~00000 JOHANNESBURG - SOLUTIONS RESIDENTIAL PARTNERS MIDRAND/KYALAMI 1 (RF) PTY LTD 1. Accelerate Property Fund transfering properties to Listed company 2. As above 3. As above 4. Various properties in ABSA campus in Johannesburg CBD 5. As per 1 above 6. As per 1 above 7. Residential housing units in Naturena in Johannesburg South 8. Commercial building in Dartfield Road, Eastgate 9. Commercial block in Eskom Enterprise Park Sunninghill 10. Residential property in Halfway Gardens The top 10 bonds registered in February are: 12

13 Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 2,009,010,000 GROWTHPOINT PROP LTD INVESTEC SANDOWN~4~00018 SANDOWN JOHANNESBURG - SANDTON 2 214,000,000 S H M INV HOLDINGS CC INVESTEC ROSEBANK~247~00000 JOHANNESBURG - HYDEPARK/ROSEBANK SPAREPROPS PTY LTD INVESTEC ROSEBANK~247~00000 JOHANNESBURG - HYDEPARK/ROSEBANK 3 180,000,000 CITY OF JOHANNESBURG NEDBANK WYNBERG PTA~40~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~42~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~43~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~44~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~45~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~46~00000 WYNBERG JOHANNESBURG - WYNBERG WYNBERG PTA~47~00000 WYNBERG JOHANNESBURG - WYNBERG 4 160,000,000 LITTLE RIVER TRADING 191 PTY LTD NEDBANK ILLOVO~454~00002 ILLOVO JOHANNESBURG - MELROSE 5 120,000,000 BLEND PROP 17 PTY LTD NEDBANK EDENBURG PTA~116~00006 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA EDENBURG PTA~116~00019 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA EDENBURG PTA~116~00020 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA CADIZ PROP INV TRUST NEDBANK EDENBURG PTA~116~00006 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA EDENBURG PTA~116~00019 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA EDENBURG PTA~116~00020 EDENBURG JOHANNESBURG - SUNNINGHILL/RIVONIA 6 100,000,000 GOFA PROP PTY LTD INVESTEC JR~407~00046 GLEN FERNES JOHANNESBURG ,000,000 BALWIN PROP PTY LTD INVESTEC GREENSTONE PARK~14~00000 JOHANNESBURG - LINBRO PARK/GREENSTONE 8 60,000,000 AQUARELLA INV 265 PTY LTD STANDARD JABULANI~2332~00003 JABULANI JOHANNESBURG - SOWETO 9 60,000,000 DUNROSE INV 47 PTY LTD STANDARD SUNNINGHILL~1621~00000 JOHANNESBURG - SUNNINGHILL/RIVONIA SUNNINGHILL~1622~00000 JOHANNESBURG - SUNNINGHILL/RIVONIA STANDARD BANK PROP PTY LTD STANDARD SUNNINGHILL~1621~00000 JOHANNESBURG - SUNNINGHILL/RIVONIA SUNNINGHILL~1622~00000 JOHANNESBURG - SUNNINGHILL/RIVONIA 10 45,000,000 SIZANAI GENERAL TRADING PTY LTD INVESTEC BLACKHEATH JHB~284~00000 BLACKHEATH JOHANNESBURG - CRESTA/FAIRLAND BLACKHEATH JHB~322~00000 BLACKHEATH JOHANNESBURG - CRESTA/FAIRLAND 1. Investec Head Office 2. Commercial building in Jellicoe Road Rosebank 3. Industrial building bordering Alexandra 4. Property on corner of Ferguson and Melville Roads, Illovo 5. Commercial building in Rivonia Boulevard, Rivonia 6. Residential development off William Nicol Drive, Glenferness 7. Residential housing in Greenstone Park 8. Residential housing in Jabulani Soweto 9. Vacant land in Sunninghill 10. Heathway Square Shopping Centre 13

14 2.1.3 City of Tshwane Tshwane Nodes Price Range 2013 YTD February A: R5mill-R10mill 978 8% % 71 8% B: R10mill-R50mill 2,598 20% % % C: R50mill-R100mill 1,469 12% % % D: Above R100mill 7,721 60% % % 12,766 1, Node 2013 YTD February PRETORIA - CENTURION 3,070 24% % % PRETORIA - EAST 1,828 14% % % PRETORIA - NORTH 1,387 11% % 42 5% PRETORIA - BROOKLYN 2,005 16% % % PRETORIA - CBD 4,026 32% 48 4% 34 4% NOT ALLOCATED 451 4% 5 0% 5 1% 12,767 1,

15 The top 10 transactions in February : Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 131,925,066 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD HIGHVELD~714~00000 HIGHVELD PRETORIA - CENTURION 2 123,304,205 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD LYNNWOOD GLEN~772~00000 LYNNWOOD GLEN PRETORIA - EAST 3 106,000,000 S A CORP REAL ESTATE FUND MANAGERS LTD KYNOCH PROJECTS PTY LTD CELTISDAL~896~00000 CELTISDAL PRETORIA - CENTURION 4 80,475,677 ACCELERATE PROP FUND LTD ZEPHAN PROP PTY LTD NIEUW MUCKLENEUK~437~00000 NEW MUCKLENEUK PRETORIA - BROOKLYN 5 58,739,013 ACCELERATE PROP FUND LTD ZEPHAN PROP PTY LTD DIE WILGERS~1220~00000 DIE WILGERS PRETORIA - EAST DIE WILGERS~276~00000 DIE WILGERS PRETORIA - EAST WILLOWGLEN AH~257~00000 DIE WILGERS PRETORIA - EAST 6 54,939,390 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD EAST LYNNE~198~00000 EAST LYNNE PRETORIA - EAST 7 43,459,756 ACCELERATE PROP FUND LTD ORTHOTOUCH LTD HIGHVELD~714~00000 HIGHVELD PRETORIA - CENTURION 8 32,556,543 ACCELERATE PROP FUND LTD ORTHOTOUCH LTD LYNNWOOD GLEN~772~00000 LYNNWOOD GLEN PRETORIA - EAST 9 30,499,213 ACCELERATE PROP FUND LTD ORTHOTOUCH LTD EAST LYNNE~198~00000 EAST LYNNE PRETORIA - EAST 10 24,378,811 ACCELERATE PROP FUND LTD ZEPHAN PROP PTY LTD RIETFONTEIN PTA~801~00000 RIETFONTEIN PRETORIA - NORTH 1. Consolidation of Orthotouch portfolio - Highveld Retail Centre in Centurion 2. Consolidation of Orthotouch portfolio - Glen Gables Retail Centre 3. Celtis Ridge Shopping Centre in Celtisdal 4. Consolidation of Accelerate portfolio - Cherry Lane Office and Retail 5. Consolidation of Accelerate portfolio - Willows Crossing Shopping Centre 6. Consolidation of Orthotouch portfolio - Eastpark Centre in East Lynne 7. Consolidation of Accelerate portfolio - As for 1 above - same property 8. Consolidation of Accelerate portfolio - As for 2 above - same property 9. Consolidation of Accelerate portfolio - As for 6 above - same property 10. Consolidation of Accelerate portfolio - Rietfontein Pavilion The top 10 bonds registered in February were: Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 350,000,000 CENTURION VISION DEVELOPMENT PTY LTD INVESTEC HIGHVELD~3082~00000 PRETORIA - CENTURION HIGHVELD~3086~00000 PRETORIA - CENTURION HIGHVELD~3087~00000 PRETORIA - CENTURION HIGHVELD~3088~00000 PRETORIA - CENTURION 2 80,000,000 CENTURY PROP DEVELOPMENTS PTY LTD INVESTEC THE HILLS~105~00000 THE HILLS PRETORIA - EAST THE HILLS~114~00000 THE HILLS PRETORIA - EAST THE HILLS~154~00000 THE HILLS PRETORIA - EAST THE HILLS~179~00000 THE HILLS PRETORIA - EAST THE HILLS~222~00000 THE HILLS PRETORIA - EAST THE HILLS~230~00000 THE HILLS PRETORIA - EAST THE HILLS~235~00000 THE HILLS PRETORIA - EAST THE HILLS~252~00000 THE HILLS PRETORIA - EAST THE HILLS~271~00000 THE HILLS PRETORIA - EAST THE HILLS~321~00000 THE HILLS PRETORIA - EAST MORE PROPERTIES ON TITLE DEED 3 20,000,000 LITTLE CREEK TRADING 404 CC NEDBANK IRENE~3287~00000 ROUTE 21 CORPORATE PARK PRETORIA - CENTURION 4 19,110,000 ROY ROBERTSON FAMILY TRUST ABSA JR~557~ ,000,000 DERBY INV HOLDINGS PTY LTD INVESTEC WALTLOO~160~00000 WALTLOO PRETORIA - EAST 6 12,000, CLUB PTY LTD FIRSTRAND WATERKLOOF PTA~1002~00000 PRETORIA - BROOKLYN 7 11,000,000 ERF 16 BRYNTIRION PTY LTD ABSA MUCKLENEUK~676~00000 BAILEYS MUCKLENEUK PRETORIA - BROOKLYN 8 10,000,000 INTERRAIL TECHNOLOGY PTY LTD STANDARD WALTLOO~74~00000 WALTLOO PRETORIA - EAST 9 8,000,000 D N D PROP PTY LTD STANDARD KOSMOSDAL~878~00000 KOSMOSDAL PRETORIA - CENTURION 10 5,200,000 BOUTEL PROP PTY LTD OTHER BANK JR~360~00051 RIETVALLEIRAND PRETORIA - EAST 1. Property between Irene and N1 in Centurion 2. Properties in residential estate east of Pretoria 3. Commercial development in Route 21 Corporate Park 4. Agricultural land near Bronkhorstspruit 5. Industrial land in Waltloo, Pretoria 6. Development property in Waterkloof 7. Residential property in Roper Street Muckleneuk 8. Industrial property in Mundt Street Waltloo 9. Commercial property on corner Waterloo and Oshbro Ave in Kosmosdal 10. Residential development in Jochem Street, Rietvalleirand 15

16 2.1.4 Ekurhuleni Municipality Ekurhuleni Nodes Price Range 2013 YTD February A: R5mill-R10mill % % 72 9% B: R10mill-R50mill 2,583 49% % % C: R50mill-R100mill 1,752 34% % % 5,229 1, Node 2013 YTD February EKURHULENI - BOKSBURG 2,663 34% % % EKURHULENI - KEMPTON PARK % % % NOT ALLOCATED 391 5% 99 10% 37 5% EKURHULENI - EDENVALE 143 2% 90 9% 90 11% EKURHULENI - SPRINGS/BRAKPAN 567 7% 75 7% 57 7% EKURHULENI - BEDFORDVIEW 489 6% 47 5% 40 5% EKURHULENI - BENONI 361 5% 39 4% 39 5% EKURHULENI - ALBERTON 1,388 17% 33 3% 21 3% EKURHULENI - GERMISTON 1,034 13% 16 2% 0 0% 7,935 1,

17 The top 10 transactions in February were: Rank Purchase Price Buyer Seller Erf Key Suburb Node Title Deed No 1 88,500,000 INVESTEC PROP FUND LTD INVESTEC PROP PTY LTD ISANDO~667~00000 ISANDO EKURHULENI - BOKSBURG T47743/ ,000,000 INVESTEC PROP PTY LTD NESTLE SOUTH AFRICA PTY LTD ISANDO~667~00000 ISANDO EKURHULENI - BOKSBURG T47742/ ,125,000 A B S A BANK LTD A B S A BANK LTD HUGHES~230~00000 HUGHES EKURHULENI - BOKSBURG T13043/2006 S A CORPORATE REAL ESTATE TRUST SCHEME A B S A BANK LTD HUGHES~230~00000 HUGHES EKURHULENI - BOKSBURG T13043/ ,059,875 ACCELERATE PROP FUND LTD ZEPHAN PROP PTY LTD HUGHES~197~00000 HUGHES EKURHULENI - BOKSBURG T47435/ ,237,398 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD HIGHWAY GARDENS~126~00000 HIGHWAY GARDENS EKURHULENI - KEMPTON PARK T47427/2013 HIGHWAY GARDENS~126~00001 HIGHWAY GARDENS EKURHULENI - KEMPTON PARK T47427/ ,926,357 ORTHOTOUCH LTD ZEPHAN PROP PTY LTD EASTLEIGH~427~00000 EASTLEIGH EKURHULENI - EDENVALE T47429/ ,500,000 TRUZEN 67 TRUST D H L SUPPLY CHAIN SOUTH AFRICA PTY LTD 8 38,641,378 JD GROUP PROP HOLDINGS PTY LTD EASTLEIGH~428~00000 EASTLEIGH EKURHULENI - EDENVALE T47429/2013 EASTLEIGH~429~00000 EASTLEIGH EKURHULENI - EDENVALE T47429/2013 EASTLEIGH~430~00000 EASTLEIGH EKURHULENI - EDENVALE T47429/2013 EASTLEIGH~552~00000 EASTLEIGH EKURHULENI - EDENVALE T47429/2013 IR~63~00059 ELANDSFONTEIN EKURHULENI - BOKSBURG T104027/2013 STEINHOFF PROP PTY LTD DALPARK~3050~00000 DALPARK EXT 11 EKURHULENI - BENONI T2068/ 9 32,554,905 ACCELERATE PROP FUND LTD ORTHOTOUCH LTD EASTLEIGH~427~00000 EASTLEIGH EKURHULENI - EDENVALE T47430/2013 EASTLEIGH~428~00000 EASTLEIGH EKURHULENI - EDENVALE T47430/2013 EASTLEIGH~429~00000 EASTLEIGH EKURHULENI - EDENVALE T47430/2013 EASTLEIGH~430~00000 EASTLEIGH EKURHULENI - EDENVALE T47430/2013 EASTLEIGH~552~00000 EASTLEIGH EKURHULENI - EDENVALE T47430/ ,000,000 ACCELERATE PROP FUND LTD HIGHVELD SYNDICATION NO 16 LTD EDEN GLEN~1544~00000 EDENGLEN EXT 38 EKURHULENI - KEMPTON PARK T47419/ Nestle factory in Quality Road Isando 2. As above 3. Industrial premises in Hughes 4. Consolidation of Accelerate Property Fund - retail centre opposite East Rand Mall 5. Consolidation of Orthotouch fund - commercial property in Highway Gardens 6. Consolidation of Orthotouch fund - commercial properties in Main Road Eastleigh 7. Industrial property in North Reef Road, Elandsfontein 8. Retail property opposite Carnival Mall in Brakpan 9. Consolidation of Accelerate Fund - properties in 6 above 10. Consolidation of Accelerate Fund - Pick n Pay centre in Terrace Road, Eden Glen The top 10 bonds registered in February were: Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 225,000,000 A B S A BANK LTD ABSA HUGHES~230~00000 HUGHES EKURHULENI - BOKSBURG 2 60,000,000 COSMOPOLITAN PROJECTS JOHANNESBURG PTY LTD STANDARD WINDMILL PARK~8148~00012 EKURHULENI - BOKSBURG WINDMILL PARK~8150~00052 EKURHULENI - BOKSBURG WINDMILL PARK~8151~00000 EKURHULENI - BOKSBURG WINDMILL PARK~8152~00000 EKURHULENI - BOKSBURG 3 51,000,000 WAVELENGTHS 124 PTY LTD STANDARD POMONA ESTATES~298~00000 POMONA ESTATES AH 4 40,000,000 INYATHI PLATE PROCESSING PTY LTD OTHER BANK DUNSWART~26~00000 DUNSWART EKURHULENI - BOKSBURG 5 39,000,000 WAVELENGTHS 124 PTY LTD STANDARD POMONA ESTATES~283~00000 POMONA ESTATES AH 6 20,000,000 DAVID BROWN PRECISION EQUIPMENT PTY LTD ABSA BENONI SOUTH~2780~00001 BENONI SOUTH EKURHULENI - BENONI BENONI SOUTH~2780~00002 BENONI SOUTH EKURHULENI - BENONI BENONI SOUTH~2783~00000 BENONI SOUTH EKURHULENI - BENONI BENONI SOUTH~2783~00002 BENONI SOUTH EKURHULENI - BENONI 7 14,918,150 ANCHOR PARK INV 48 PTY LTD FIRSTRAND ALRODE~637~00000 ALRODE EKURHULENI - ALBERTON 8 14,500,000 A S T AFRICA TRADING 70 CC OTHER BANK ANDERBOLT~246~00000 ANDERBOLT EKURHULENI - BOKSBURG 9 13,000,000 RUBBARIDE PTY LTD STANDARD JET PARK~10~00000 JET PARK EKURHULENI - BOKSBURG 10 9,840,612 CHRISTOFFEL MARAIS INV CC FIRSTRAND NIGEL~540~00000 NIGEL CENTRAL EKURHULENI - SPRINGS/BRAKPAN STANDARD BANK PROP BRAAMFONTEIN LTD FIRSTRAND NIGEL~1486~00000 NIGEL CENTRAL EKURHULENI - SPRINGS/BRAKPAN NIGEL~314~00000 EKURHULENI - SPRINGS/BRAKPAN NIGEL~315~00000 EKURHULENI - SPRINGS/BRAKPAN NIGEL~316~00000 EKURHULENI - SPRINGS/BRAKPAN NIGEL~453~00000 EKURHULENI - SPRINGS/BRAKPAN 17

18 1. Industrial properties in Hughes 2. Residential development in Windmill Park 3. Vacant industrial property in Pomona Estates 4. Industrial property in Kent Road in Dunswart 5. Vacant industrial property in Pomona Estates 6. Industrial property in Lincoln Street, Benoni South 7. Industrial property in Botha Street Alrode 8. Industrial property in Dormehl Street Anderbolt 9. Industrial premises in Patrick Road Jet Park 10. Industrial property in Kerk Street Nigel 18

19 2.1.5 Ethekwini Municipality Ethekwini Nodes Price Range 2013 YTD February A: R5mill-R10mill 1,052 11% 146 8% 46 5% B: R10mill-R50mill 2,753 30% % % C: R50mill-R100mill 1,809 20% 34 2% 33 4% D: Above R100mill 3,599 39% 1,338 74% % 9,213 1, Node 2013 YTD February DURBAN - NORTH 3,529 38% 1,011 56% % DURBAN - CENTRAL 2,908 32% % % DURBAN - SOUTH % % 0 0% DURBAN - EAST 1,751 19% % % NOT ALLOCATED 97 1% 85 5% 75 9% 9,212 1,

20 The top 10 transfers in February were: Rank Purchase Price Buyer Seller Erf Key Suburb Node Title Deed No 1 736,485,122 ABSA BANK LIMITED DURBAN NORTH~3448~00019 RED HILL DURBAN - NORTH T25317/2012 CAPITAL PROPERTY TRUST-TRUSTEES DURBAN NORTH~3448~00019 RED HILL DURBAN - NORTH T25317/ ,840,977 SAPPI MANUFACTURING PTY LTD ET~16712~00000 UMKOMAAS T30916/1996 SAPPI SOUTHERN AFRICA LIMITED ET~16712~00000 UMKOMAAS T30916/ ,356,000 FAIRVEST PROPERTY HOLDINGS LIMITED MICC PROPERTIES PTY LTD DURBAN~12025~00000 DURBAN CENTRAL DURBAN - CENTRAL T2323/ DURBAN~12025~00001 DURBAN CENTRAL DURBAN - CENTRAL T2323/ 4 65,809,667 SIEMENS LTD PINETOWN~2827~00002 PINETOWN CENTRAL DURBAN - EAST T37168/ ,900,000 COOL IDEAS 205 PROPRIETARY LIMITED TIME MACHINE INV CC UMHLANGA ROCKS~2517~00016 SOMERSET PARK DURBAN - NORTH T3589/ 6 29,500,000 PLENNEGY PROPRIETARY LIMITED TONEBYTE INV PTY LTD MOUNT EDGECOMBE~3196~00018 MOUNT EDGECOMBE DURBAN - NORTH ST2108/ 7 22,000,000 THE HUGHES 31 TRUST-TRUSTEES ELLIS-SKYE INV PTY LTD FT~957~00994 HILLCREST PARK DURBAN - EAST T4169/ 8 17,850,000 PROJECT 1000 INVESTMENTS CC BASFOUR 3282 PTY LTD DURBAN NORTH~3450~00006 RED HILL DURBAN - NORTH ST4313/ 9 17,000,000 BASFOUR 3317 PROPRIETARY LIMITED REDDY CLAUDETTE FT~17780~00000 INCHANGA DURBAN - EAST T2175/ 10 14,934,681 BLUE DOT PROPERTIES 1358 CC HIGHWAY BAKKIE HIRE PROPRIETARY LIMITED WINSTON PARK~422~00000 WINSTON PARK DURBAN - EAST T4434/ 1. Constantia Park - Light industrial business park in Redhill, Durban 2. Land purchased in Umkomaas, KZN - around 2km from SAICCOR plant 3. Commercial building in Bertha Mkhize Street, Durban 4. Siemens building in Gillitts Road, Pinetown 5. Office block in Meridan Drive, Umhlanga Rocks 6. Sectional Title Unit in commercial block in Sucrose Road, Mt Edgecombe 7. Retail property on Main Road Hillcrest 8. Light industry property in Moreland Drive, Redhill 9. Large tract vacant land opposite Inchanga 10. Retail property on Winston Park off ramp The top 10 bonds in February were: Rank Bond Amount Buyer Bank Erf Key Suburb Node 1 128,400,000 BUSINESS PARTNERS LIMITED NEDBANK KLOOF~1190~00000 DURBAN - EAST BUSINESS PARTNERS LTD NEDBANK CHATSWORTH NATAL~107~07804 CHATSWORTH CENTRAL DURBAN - SOUTH CHATSWORTH NATAL~107~07805 CHATSWORTH CENTRAL DURBAN - SOUTH CHATSWORTH NATAL~107~07807 CHATSWORTH CENTRAL DURBAN - SOUTH CHATSWORTH NATAL~107~07809 CHATSWORTH CENTRAL DURBAN - SOUTH CHATSWORTH NATAL~107~07811 CHATSWORTH CENTRAL DURBAN - SOUTH PHOENIX INDUSTRIAL PARK~151~00000 PHOENIX INDUSTRIAL DURBAN - NORTH PHOENIX INDUSTRIAL PARK~191~00000 PHOENIX INDUSTRIAL DURBAN - NORTH PINETOWN~30550~00000 PINETOWN CENTRAL DURBAN - EAST 2 32,000,000 COOL IDEAS 205 PROPRIETARY LIMITED NEDBANK UMHLANGA ROCKS~2517~00016 DURBAN - NORTH 3 23,500,000 PLENNEGY PROPRIETARY LIMITED INVESTEC MOUNT EDGECOMBE~3196~00018 MOUNT EDGECOMBE DURBAN - NORTH 4 22,750,000 PG007 PROPRIETARY LIMITED NEDBANK UMHLANGA ROCKS~2408~00192 DURBAN - NORTH TONGAAT HULETT DEVELOPMENTS PROPRIETARY LIMITED NEDBANK UMHLANGA ROCKS~2408~00192 DURBAN - NORTH 5 22,000,000 SIEMENS LTD OTHER BANK PINETOWN~2827~00002 PINETOWN CENTRAL DURBAN - EAST 6 20,000, CHERRY ROAD INV PTY LTD NEDBANK PINETOWN~7241~00000 NORTH INDUSTRIA DURBAN - EAST 7 12,600,000 THE HUGHES 31 TRUST-TRUSTEES NEDBANK FT~957~00994 HILLCREST PARK DURBAN - EAST 8 10,390,000 FUTURA FOOTWEAR LTD NEDBANK PINETOWN~4599~00000 MANORS DURBAN - EAST 9 10,000,000 STAND 2436 PIETERMARITZBURG PTY LTD NEDBANK AMANZIMTOTI~2948~00000 AMANZIMTOTI DURBAN - SOUTH 10 9,800,000 PROJECT 1000 INVESTMENTS CC INVESTEC DURBAN NORTH~3450~00006 RED HILL DURBAN - NORTH 1. Various commercial building across Durban 2. Office block in Meridan Drive, Umhlanga Rocks 3. Sectional Title Unit in commercial block in Sucrose Road, Mt Edgecombe 4. Large vacant land in Woodlands, Umhlanga Rocks 5. Siemens building in Gillitts Road, Pinetown 6. Industrial premises in Cherry Road, North Industria 7. Retail property on Main Road Hillcrest 8. Industrial property called Manchester Park in Manors, Pinetown 9. Retail shopping centre called Toti Centre in Amanzimtoti 10. Light industry property in Moreland Drive, Redhill 20

21 3 OWNER SEGMENT ANALYSIS 3.1 Listed Companies Listed Company 2013 YTD February ACCELERATE 206 1% 5,064 66% 4,862 77% ANNUITY PROPERTIES 1,047 5% 68 1% 68 1% ARROWHEAD PROPERTIES 647 3% 201 3% 106 2% ASCENSION PROP 1,394 6% 0 0% 0 0% CAPITAL PROPERTY FUND 986 4% 184 2% 184 3% DELTA PROPERTY FUND 3,210 15% 703 9% 588 9% DIPULA INCOME FUND 1,096 5% 153 2% 0 0% EMIRA PROPERTY FUND 25 0% 14 0% 14 0% FAIRVEST PROPERTY HOLDINGS 429 2% 232 3% 179 3% FORTRESS INCOME FUND 819 4% 50 1% 0 0% FOUNTAINHEAD PROPERTY TRUST 10 0% 0 0% 0 0% GROWTHPOINT PROPERTY 732 3% 505 7% 121 2% HOSPITALITY FUND 443 2% 0 0% 0 0% HYPROP INVESTMENTS 300 1% 0 0% 0 0% INGENUITY PROPERTY INVESTMENT 939 4% 0 0% 0 0% INVESTEC PROPERTY FUND 1,667 8% 174 2% 174 3% PREMIUM PROPERTIES 130 1% 0 0% 0 0% REBOSIS PROPERTY FUND 1,753 8% 0 0% 0 0% REDEFINE PROPERTIES 2,151 10% 109 1% 0 0% RESILIENT PROPERTY INCOME FUND 27 0% 107 1% 0 0% SA CORPORATE REAL ESTATE FUND 187 1% 83 1% 16 0% SYCOM PROPERTY FUND 590 3% 0 0% 0 0% SYNERGY INCOME FUND 335 2% 0 0% 0 0% TOWER 806 4% 23 0% 0 0% VIVIDEND INCOME FUND 638 3% 0 0% 0 0% VUKILE PROPERTY FUND 1,379 6% 34 0% 34 1% VUNANI PROPERTY FUND 52 0% 0 0% 0 0% 21,998 7,704 6,346 21

22 The top 10 transactions were as follows: Ran k Purchase Price Buyer Seller Erf Key Suburb Node 1 935,181,961 ACCELERATE PROP FUND LTD PRECINCT PTY LTD ~1698~00000 JOHANNESBURG - ~1699~00000 JOHANNESBURG - ~1700~00000 JOHANNESBURG - ~1701~00000 JOHANNESBURG - ~1714~00000 JOHANNESBURG - ~1715~00000 JOHANNESBURG ,107,000 ACCELERATE PROP FUND LTD HIGHVELD SYNDICATION NO 18 LTD MELVILLE JHB~213~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~214~00000 MELVILLE JOHANNESBURG - PARKTOWN MELVILLE JHB~960~00000 MELVILLE JOHANNESBURG - PARKTOWN 3 736,485,122 CAPITAL PROPERTY TRUST- TRUSTEES DURBAN NORTH~3448~00019 RED HILL DURBAN - NORTH 4 732,121,655 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~862~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~863~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~864~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~918~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~919~00000 WITKOPPEN JOHANNESBURG ,024,007 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~867~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~868~00000 WITKOPPEN JOHANNESBURG ,999,310 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~1362~00000 WITKOPPEN JOHANNESBURG - MORE PROPERTIES ON TITLE DEED WITKOPPEN~1363~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1367~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1368~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1611~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1612~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1783~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1784~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1785~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1786~00000 WITKOPPEN JOHANNESBURG ,020,000 DELTA PROP FUND LTD CAPITAL PROP TRUST SUNNINGHILL~1366~00000 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA 8 179,356,000 FAIRVEST PROPERTY HOLDINGS LIMITED SUNNINGHILL~1366~00002 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA SUNNINGHILL~1366~00003 SUNNINGHILL JOHANNESBURG - SUNNINGHILL/RIVONIA MICC PROPERTIES PTY LTD DURBAN~12025~00000 DURBAN CENTRAL DURBAN - CENTRAL DURBAN~12025~00001 DURBAN CENTRAL DURBAN - CENTRAL 9 152,300,000 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~2209~00000 JOHANNESBURG ,958,902 ACCELERATE PROP FUND LTD PRECINCT PTY LTD WITKOPPEN~1071~00000 WITKOPPEN JOHANNESBURG - WITKOPPEN~1072~00000 WITKOPPEN JOHANNESBURG - 1. Transfer of properties into Accelerate Property Fund - related transaction 2. Transfer of properties into Accelerate Property Fund - related transaction 3. Constantia Business Park in Redhill, Durban North 4. Transfer of properties into Accelerate Property Fund - related transaction 5. Transfer of properties into Accelerate Property Fund - related transaction 6. Transfer of properties into Accelerate Property Fund - related transaction 7. Three office blocks in Eskom Business Park in Simba Road Sunninghill 8. Retail property in Victoria Street, Durban Central 9. Transfer of properties into Accelerate Property Fund - related transaction 10. Transfer of properties into Accelerate Property Fund - related transaction 22

23 3.2 Second Tier Companies Buyer Name 2013 YTD February ORTHOTOUCH % 1,402 50% 1, % LEAF PROPERTY FUND % 1,376 49% 0 0% NVEST PROPERTIES 39 2% 42 1% 0 0% ROBS INVESTMENT HOLDINGS 49 2% 10 0% 0 0% AMPHORIA 20 1% 0 0% 0 0% LAW'S STORES 31 1% 0 0% 0 0% COVEWAY TRADE AND INVEST % 0 0% 0 0% SILVER LEAF PROPERTY FUND % 0 0% 0 0% STYLEPROPS % 0 0% 0 0% RUEVERT PROPERTIES 12 0% 0 0% 0 0% ROELAND STREET INVESTMENTS % 0 0% 0 0% EFSTRATIOU PROPERTIES 30 1% 0 0% 0 0% MILE INVESTMENTS % 0 0% 0 0% AMRICHPROP 2 PROPERTIES 11 0% 0 0% 0 0% STONEBRIDGE PROPERTIES 44 2% 0 0% 0 0% ERIS PROPERTY HOLDINGS 9 0% 0 0% 0 0% J POST INVESTMENTS 148 6% 0 0% 0 0% JAY REDDY PROPERTY INVESTMENTS 21 1% 0 0% 0 0% PINESLOPES ERF % 0 0% 0 0% XTRASPACE PROPERTIES 73 3% 0 0% 0 0% 2,546 2,830 1,402 The top transactions were as follows: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 216,434,338 ORTHOTOUCH ZEPHAN PROP PTY LTD EASTGATE~265~00000 EASTGATE JOHANNESBURG - WYNBERG 2 152,216,272 ORTHOTOUCH ZEPHAN PROP PTY LTD EASTGATE~72~00000 EASTGATE JOHANNESBURG - WYNBERG EASTGATE~73~00000 EASTGATE JOHANNESBURG - WYNBERG EASTGATE~74~00000 EASTGATE JOHANNESBURG - WYNBERG IR~42~00224 EASTGATE JOHANNESBURG - WYNBERG IR~42~00715 EASTGATE JOHANNESBURG - WYNBERG 3 143,341,466 ORTHOTOUCH ACCELERATE PROP FUND LTD WILRO PARK~2627~00000 PRINCESS AH JOHANNESBURG - ROODEPOORT WILRO PARK~2628~00000 WILRO PARK JOHANNESBURG - HENDRICK POTGIETER 4 131,925,066 ORTHOTOUCH ZEPHAN PROP PTY LTD HIGHVELD~714~00000 HIGHVELD PRETORIA - CENTURION 5 130,195,091 ORTHOTOUCH ZEPHAN PROP PTY LTD FLORIDA NORTH~316~00000 FLORIDA NORTH JOHANNESBURG - ROODEPOORT FLORIDA NORTH~317~00000 FLORIDA NORTH JOHANNESBURG - ROODEPOORT 6 123,304,205 ORTHOTOUCH ZEPHAN PROP PTY LTD LYNNWOOD GLEN~772~00000 LYNNWOOD GLEN PRETORIA - EAST 7 114,130,662 ORTHOTOUCH KIA JOY TRUST BELLVILLE~34109~00000 RIDGEWORTH CAPE TOWN - NORTHERN SUBURBS 8 61,312,403 ORTHOTOUCH SALESTALK 231 PTY LTD EASTGATE~255~00000 EASTGATE JOHANNESBURG - WYNBERG 9 58,326,791 ORTHOTOUCH SCHAEFFER TECHNOLOGIES TRUST CAPE TOWN~170672~00000 ZONNEBLOEM CAPE TOWN - CENTRAL 10 54,939,390 ORTHOTOUCH ZEPHAN PROP PTY LTD EAST LYNNE~198~00000 EAST LYNNE PRETORIA - EAST 1. Large Office block in Charles Crescent Eastgate (Kramerville) in Johannesburg 2. Commercial buildings in Charles Crescent Eastgate (Kramerville) 3. Shopping Centre in Ontdekkers Road Wilro Park 4. Highveld Centre Shopping Centre in Highveld Centurion 5. Florapark Business Park in Conrad Street Florida North 6. Glen Gables Shopping Centre in Lynnwood Road Lynnwood Glen 7. Retail Centre in Durban Road Bellville 8. Commercial building in Charles Crescent in Eastgate (Kramerville) 9. Commercial building in Darling Street, Cape Town Central 10. Eastpark Shopping Centre in East Lynne 23

24 3.3 Residential Development Companies Buyer Name 2013 YTD February INTERNATIONAL HOUSING SOLUTIONS RESIDENTIAL PARTNERS 1 (RF) 0 0% % % S A W H F S A RENTAL 3 TRUST 152 8% 49 7% 49 8% JOZI HOUSING 0 0% 33 5% 0 0% WINDMILL PARK ESTATES 22 1% 32 5% 0 0% ZOTEC DEVELOPMENTS 132 7% 27 4% 27 5% DOTCOM TRADING % 22 3% 5 1% NATION HOUSING 0 0% 14 2% 14 2% CENTRAL PROPERTY DEVELOPMENT JOHANNESBURG 0 0% 14 2% 0 0% JT GROUP DEVELOPMENTS 21 1% 0 0% 0 0% VESTISAT 28 2% 0 0% 0 0% CULVERWELL CONSERVATION COMPANY 87 5% 0 0% 0 0% OOSTERMOED BELEGGINGS % 0 0% 0 0% M7 KONSTRUKSIE 7 0% 0 0% 0 0% MELTOWN INVESTMENTS 7 0% 0 0% 0 0% STREET SPIRIT TRADING % 0 0% 0 0% TICASPOT 6 0% 0 0% 0 0% CENTURY WESTERN CAPE 23 1% 0 0% 0 0% PULSE URBAN PROPERTIES 162 9% 0 0% 0 0% UVEST HOUSING PORTFOLIO (RF) 17 1% 0 0% 0 0% CENTURY PROPERTY DEVELOPMENTS 107 6% 0 0% 0 0% MNANDI PROPERTY DEVELOPMENT 20 1% 0 0% 0 0% ROYAL ASTON 5 0% 0 0% 0 0% KIRON PROJECTS 12 1% 0 0% 0 0% S A W H F S A RENTAL 4 TRUST 4 0% 0 0% 0 0% SAWHF SA RENTAL 4 TRUST 4 0% 0 0% 0 0% VALLIBROS PROPERTIES 15 1% 0 0% 0 0% BALWIN PROPERTIES 30 2% 0 0% 0 0% BESTWOOD SECURITISATION (RF) 40 2% 0 0% 0 0% AFHCO 16 1% 0 0% 0 0% GOLD WAVE PROPERTIES % 0 0% 0 0% JIKA PROPERTIES 144 8% 0 0% 0 0% JORDI PROPERTIES 30 2% 0 0% 0 0% COSMOPOLITAN PROJECTS JOHANNESBURG 132 7% 0 0% 0 0% LEKWENA WILDLIFE ESTATE 16 1% 0 0% 0 0% EVERGREEN PROPERTY INVESTMENTS 92 5% 0 0% 0 0% SUMMERCON HOLDCO 63 4% 0 0% 0 0% FIRST METRO HOUSING COMPANY % 0 0% 0 0% 1, The top transactions were as follows: Rank Purchase Price Buyer Seller Erf Key Suburb Node 1 217,133,633 INTERNATIONAL HOUSING SOLUTIONS RESIDENTIAL PARTNERS 1 (RF) 2 158,380,241 INTERNATIONAL HOUSING SOLUTIONS RESIDENTIAL PARTNERS 1 (RF) 3 107,671,444 INTERNATIONAL HOUSING SOLUTIONS RESIDENTIAL PARTNERS 1 (RF) NATURENA~3030~00000 NATURENA JOHANNESBURG - KLIPRIVIERSBERG NATURENA~3031~00000 LENARON AH JOHANNESBURG - KLIPRIVIERSBERG ZOTEC DEVELOPMENTS PTY LTD HALFWAY GARDENS~1399~00000 JOHANNESBURG - MIDRAND/KYALAMI ZOTEC DEVELOPMENTS PTY LTD HALFWAY GARDENS~657~00000 JOHANNESBURG - MIDRAND/KYALAMI HALFWAY GARDENS~658~00000 JOHANNESBURG - MIDRAND/KYALAMI 4 49,000,000 S A W H F S A RENTAL 3 TRUST BUSINESS VENTURE INV NO 1486 PTY LTD FERNDALE~1093~00000 JOHANNESBURG - RANDBURG MORE PROPERTIES ON TITLE DEED 5 34,000,000 ZOTEC DEVELOPMENTS UNDER THE BOARDWALK PROP 65 PTY LTD HOMES HAVEN~689~00000 HOMES HAVEN HOMES HAVEN~690~00000 HOMES HAVEN~691~00000 HOMES HAVEN~692~00000 HOMES HAVEN HOMES HAVEN HOMES HAVEN 6 22,090,000 DOTCOM TRADING 849 BLUE NIGHTINGALE TRADING 305 PTY LTD KU~82~00071 MODITLO ESTATE KU~82~00072 MODITLO ESTATE 24