DIVERSIFIED INVESTMENT PORTFOLIO

Attacq’s creative approach to local and international real estate investments, positions the company well to deliver exceptional and sustainable growth. The mix between investing in emerging and established hard currency markets, diversifies the portfolio and stands the company in good stead going forwards.

The company has a quality South African portfolio that includes investments in retail, hotel, office and mixed use and light industrial. Attacq’s developments in South Africa are in Waterfall City and Waterfall Logistics Hub, where Attacq has 975 468 m² of remaining developable bulk, of which 600 000 m² is serviced and has the appropriate development rights in place.

Attacq’s diversified portfolio includes a retail focused portfolio of investments in the rest of Africa (outside of South Africa) through AttAfrica Limited (“AttAfrica”). While an investment in MAS Real Estate Inc. (“MAS”) gives Attacq an entry point into western, central and eastern European markets. MAS are continuing to expanded their investment and development strategy, and their most recent acquisitions include properties in countries like Poland and Bulgaria.

QUALITY SOUTH AFRICAN PORTFOLIO

Attacq invests actively in South Africa and specifically Waterfall City, which is the crown jewel in our development portfolio. This introduces great opportunity, but also concentrates risk. By diversifying our investments within South Africa, as well as globally, we mitigate this risk and position ourselves to capture opportunities as they arise. Attacq’s South African portfolio is currently retail and office dominated, with exposure to the industrial and hotel sectors. The majority of the portfolio is located in Gauteng, with exposure to the Western Cape and North West provinces.

RETAIL

OFFICE AND MIXED-USE

HOTEL

LIGHT
INDUSTRIAL

SA PORTFOLIO BY PROPERTY SECTOR

Attacq’s real estate investment portfolio is geographically diversified. The portfolio provides a solid rental income stream, allowing Attacq to invest,
develop and grow its overall property footprint. The South African portfolio is currently retail and office dominated, with exposure to the industrial and hotel sectors. Majority of the portfolio is concentrated in Gauteng, while Attacq’s other three high quality malls are located in the Western Cape and North West provinces. The information in the portfolio tables below, is correct as at 30 June 2018.

PGLA Valuation Value
Property name Location Key Tenants m2 R’000 R/m2
Brooklyn Mall* Pretoria Checkers, Dis-Chem, Game, Woolworths 18 777 694 000 36 960
Eikestad Mall** Stellenbosch Checkers, Game, Food Lover’s Market, Woolworths 37 420 935 200 24 992
Garden Route Mall George Dis-Chem, Edgars, Game, Pick n Pay, Woolworths 53 813 1 464 000 27 205
Glenfair Boulevard Pretoria Dis-Chem, Shoprite Checkers, SuperSpar 15 951 491 032 30 784
Lynnwood Bridge – Retail Pretoria Planet Fitness, Safari and Outdoor Warehouse, Woolworths 11 378 368 866 32 419
Mall of Africa** Waterfall Checkers Hyper, Game, Edgars, Woolworths 99 770 4 519 959 45 304
MooiRivier Mall Potchefstroom Checkers, Dis-Chem, Edgars, Game, Woolworths
49 696 1 194 000 24 026
Waterfall Corner Waterfall Checkers, Woolworths 9 582 212 823 22 211
Waterfall Lifestyle Waterfall Bounce, Virgin Active
7 139 138 021 19 333
Total 303 526
10 017 901
33 005

Values provided above reflect Attacq’s undivided share in the property: *25%; **80%

PGLA Valuation Value
Property name Location Key Tenants m2 R’000 R/m2
2 Eglin Sunninghill Group Five 25 525 167 175 6 549
Allandale Building Waterfall Cummins, Trans-Africa Projects, WiseTech Global 15 359 434 905 28 316
Brooklyn Bridge Office Park Pretoria Circle Chambers, SARS 23 525 553 705 23 537
Cell C Campus Waterfall Cell C
43 890 1 027 288 23 406
Gateway West Waterfall Sage South Africa, Spaces 13 803 352 370 25 529
Transnet Waterfall Transnet 24 354 639 130 26 243
Lynnwood Bridge – Aurecon Pretoria Aurecon
19 104 796 116 41 675
Lynnwood Bridge Pretoria Adams & Adams, Citadel, Sanlam, Water Research Commission
27 613 974 788 35 302
Maxwell Office Park* Waterfall Cipla, Colgate, Golder Associates, Premier Foods
18 422 566 827 30 769
Novartis Waterfall Novartis 7 982 238 437 29 872
PwC Tower# Waterfall PwC 36 461 1 345 179 36 864
Corporate Campus – building 1* Waterfall Isuzu Motors South Africa, Decision Inc 2 934 84 697 28 316
Corporate Campus – Accenture* Waterfall Accenture 1 958 66 159 33 329
Total 260 957 7 246 826 27 770

Values provided above reflect Attacq’s undivided share in the building: *50.0%;
Values provided above reflect Attacq’s effective co-ownership in the building: #75.0%

PGLA Valuation Value
Property name Location m2 R’000 R/m2
City Lodge – Lynnwood Pretoria 7 946 213 744 26 900
City Lodge – Waterfall Waterfall 5 744 118 992 20 716
Total 13 690 332 736 24 305

 

PGLA Valuation Value
Property name Location Tenants m2 R’000 R/m2
Amrod Waterfall Amrod 37 937 410 057 10 809
BMW Group SA Regional Distribution Centre Waterfall BMW 31 987 278 437 8 705
Cummins SA regional office* Waterfall Cummins 7 649 114 267 14 939
Dimension Data Waterfall Dimension Data 8 291 95 697 11 542
Dis-Chem Warehouse Waterfall Dis-Chem
8 518 84 339 9 901
Massbuild Distribution
Centre
Waterfall Massbuild 50 033 407 487 8 144
Torre Industries Waterfall Torre Industries 9 357 128 317 13 713
Total 153 772 1 518 601 9 876

Values provided above reflect Attacq’s undivided share in the building: *50.0%

Property name LP Anticipated Completion Date Effective % Pre-Let Estimated Capital Cost Estimate value on Completion Book value at
30 June 2018
PGLA# m2 (PGLA) R’000 R’000 R’000
Waterfall City
Waterfall Corporate Campus – building 2* 10B Q3 FY19 3 215 73 765 85 277 67 700
Waterfall Point^ – building 1, inventory 15 Q3 FY19 2 339 30.0% pre- sold 55 363 67 284 39 346
Waterfall Point^ – building 2, inventory 15 Q3 FY19 2 339 55 363 67 248 46 372
Waterfall Point^ – building 3, pre-sold 15 Q3 FY19 2 339 90.0% pre-sold 55 363 65 283 7 359
Waterfall Point^ – building 4 15 Q3 FY19 2 339 55 363 60 680 50 614
The Ingress – PSG Wealth and building 2 10 Q1 & Q2 FY20 8 731 50.1 243 513 258 725 74 754
Deloitte Head Office* 10 Q3 FY20 21 250 100.0 653 336 847 153 304 977
Waterfall Logistics Hub
Pirtek 8 Q3 FY19 2 926 100.0 29 003 32 500 19 633
Superga/Kappa and midi warehouse 8 Q4 FY19 9 953 46.8 84 725 85 928 56 081
Zimmer Biomet*
8 Q4 FY19 2 000 100.0 27 280 32 088 13 142
Total 57 431 >73.0 1 333 074 1 602 202 679 978

* Values provided above reflect Attacq’s undivided share in the building: *50.0%
# Estimated PGLA for Attacq’s attributable share of development. Subject to change upon final re-measurement post completion
^ The estimated value on completion of pre-sold and inventory is indicative of sales proceeds and not of an external valuation

MAS REAL ESTATE

REST OF AFRICA RETAIL INVESTMENTS