Ex-UCB House

Corner Anderson and Marshall Streets | Marshalls Town | Johannesburg  | 2001

Private Tender



Investment highlights

  • White-boxed offices suitable to be multi-tenanted or a possible residential conversion opportunity

  • Several prominent amenities surrounding the property including general public transport and a Gautrain Station, courts, government offices and Ghandi Square

  • Excellent exposure on to Anderson and Marshall Streets in the heart of Johannesburg’s CBD



UCB House is located within the historic mining and banking district of Johannesburg. This legendary jewel has white boxed offices and allows itself to be multi tenanted. The Building is within walking distance from government offices as well as the various legal courts of Gauteng.

The property is located at 74 – 82 Marshall Street with frontage to Marshall and Anderson Streets, both main feeder roads in and out of the Marshall Town city precinct, located at the southern fringe of the Johannesburg CBD. On-site parking access is from Anderson Street.

The development is positioned mid-block with the end developments separately owned. Gandhi Square is located three city blocks to the east. The building is located opposite the BHP Billiton offices, close proximity to the Gautrain Station as well as to general public transport.


The property is made up of an eight-storey office complex along with two adjoining six and seven-storey B/C grade office buildings with an internal parking garage served by a centrally positioned circular ramp feeding into parking at each office level. The buildings also have basement parking which is easily accessed from Anderson Street.

The buildings appear to have been developed around the early to the mid- 20th century

Both office complexes are constructed in a reinforced concrete frame with exterior plaster and concrete mouldings with heavy set windows and entrance doors. The 74-78 Marshall Street (west side offices) elevation has a higher character with exterior inset columns and a balcony feature on the top floor.

Internal finishes in the occupied sections are ‘B’ grade incorporating some of the original granite wall renderings with modern finishes including suspended ceilings, floor coverings; recessed lighting and ducted air-conditioning. Restroom facilities and kitchenettes are provided on each level. The unoccupied sections appear to be mainly ‘C’ Grade.


Zoning and Title Deed Information

Erf: 1167 & 1168 Marshalls Town

Township/Farm: Marshalls Town

Tenure: Freehold

Registered Owner: Government Employees Pension Fund

Title Deed Number: T6337/2009

Local Authority: City of Johannesburg

Extent: 3,123 sqm

Scheme: Johannesburg Town Planning Scheme 1979

Zoning: Business 4

F.A.R: As per scheme

Coverage: As per scheme

Height: 1-8 storeys excluding basements

Parking: As per scheme

Building Lines:0 metres on all boundaries


Rentable Areas

Use Use Size (Sqm)
Offices 11,261.87
Total 11,261.87
Parking Bays
Basement 278
Total 278


Tenancy and covenant

The property comprises a multi-unit office building with The Government Pension Administration Agency and Metal Industries as the only tenants currently occupying 9% (667 sqm and 381 sqm respectively) of the total area. The remaining 91% (10 214 sqm) is vacant.

Major Tenant(s):

Metal Industries Benefit Funds

  • Area: 381 sqm
  • Lease term: 1 July 2021 – 30 June 2022
  • Gross/Net Rent per sqm per month: R113.40
  • Escalation: 8% per annum

Government Pension Administration Agency 

  • Area: 657 sqm
  • Lease term: 01 October 2018 – 30 September 2023
  • Gross/Net Rent per sqm per month: R 56
  • Escalation: 8% per annum

The Government Pension Administration Agency

The Government Pensions Administration Agency (GPAA) is a government component that reports to the Minister of Finance and administers funds and schemes on behalf of the Government Employees Pension Fund (GEPF), the largest pension fund in Africa. It administers the pension affairs of approximately 1,7 million government employees and pensioners, as well as the affairs of their spouses and dependents.


Forecasted monthly rates and taxes expense


Starting March 2022  
Rates and Taxes   R51,828.69



The Seller has been registered for VAT (Value Added Tax). It is intended that the sale will be treated as a transfer of a going concern, provided that the purchaser is registered for VAT and the requirements for going concern are met in terms of the VAT Act, No. 89 of 1991. 

Sales process

Stage 1:

In this stage of the process interested parties are requested to submit a non-binding Letter of Interest / Intent (“LOI”) to the JLL Empact JV by no later than -

12h00 on Thursday 7 October 2021. Bids are to be submitted electronically to the email addresses of the agents provided herein in the template LOI format provided in the Downloads tab below. Please note that late electronic submissions will not be considered by the PIC.

To submit these LOIs the following Stage 1 property information is available under the Downloads tab:

A downloadable Information Memorandum (which is a summary of the information contained in this property information page);

  • A comprehensive Stage 1 Process Letter (setting out the two-stage Private Tender Process in greater detail);  
  • The Seller’s template / standard Letter of Intent / Interest (“LOI”);
  • The Sellers’ standard Non-Disclosure Agreement (“NDA”). The NDA must be completed if the purchasers wants to view a detailed Tenancy Schedule (if applicable and available). 

Bidders will also be allowed to view the Property, provided 48 hours’ notice is given to the JLL Empact JV. 

To download any of these documents you’ll be required to register to become a subscriber to the South African Property Exchange (SAPX).

Stage 2:

Stage 1 LOIs / bids will be assessed by the Seller and thereafter a select number of bidders will be given permission to participate in Stage 2 of the process. In Stage 2, select bidders are given access to a comprehensive Stage 2 due diligence data room to conduct a more extensive due diligence exercise. FICA or KYC verification will be required and submission of binding offers will be done via the ClicktoPurchase functionality on SAPX or via the submission of PDF signed copy of an approved sale and purchase agreement directly to the agents. The agents will provide selected bidders with instructions that outlines how offers are to be submitted via ClicktoPurchase® or direct submission by providing select bidders with a detailed Stage 2 Process Letter.

In Stage 2 bidders have up to 6 weeks to conduct their DD and submit final binding offers.

Bids will be accessed on four main criteria:

  • Price
  • Ability to perform / track record
  • Conditionality (i.e. speed of performance)
  • Timing of electronic submission of offer.


Empact Group

PJ Muller PJ.Muller@empactgroup.co.za +27 (0) 82 888 0828
Kedibone Bolofo Kedibone.Bolofo@empactgroup.co.za +27 (0) 83 988 1740




Pepler Sandri pepler.sandri@eu.jll.com +27 (0) 82 445 5496
Thabiso Malibeng thabiso.malibeng@eu.jll.com +27 (0) 79 183 1153



No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of the JLL Empact JV or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of the JLL Empact JV or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor shall not give rise to any right of action, claim, entitlement or compensation against JLL Empact JV or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor.