Waterfall Edge

Howick Close | Vorna Valley | Midrand |1686

Price on Application



Investment highlights

  • Two office building located in Waterfall Edge, measuring 3 273 sqm

  • Tenanted by a single tenant, the Road Traffic Infringement Agency (RTIA), occupying 52% of the GLA

  • The RTIA is currently on a month-to-month lease but these premises are considered key to their operation and the lease can be expected to be renewed in due course.

  • The property is accessible from Augrabies and Mac Mac Road and enjoys exposure to Pretorius Road and Allandale Road

  • Projected Net Operating income for the period 1 March 2022 to 28 February 2023 of approximately R2,9 million



The property is located at the south end of the Waterfall Park office precinct on the eastern fringe of Vorna Valley. Access is vis Augrabies and Mac Mac Road which feeds into Waterfall Park off Bekker Road. Bekker Road in turn connects in the south via Pretorius Road onto Allandale Road and the new Mall of Africa and Waterfall City commercial precinct and to the north to Le Roux Avenue that links to the Old Pretoria Main Road.  

Waterfall Park is strategically located close to numerous amenities offered by Waterfall City including the newly constructed Mall of Africa.


The site is improved with two double-storey office complexes with basement parking. Each complex is designed in 3 office buildings connected at both levels via a wide office corridor. The  entrances feature an open paved terrace.

The buildings are designed in a modern colonnade style with white plaster walls, moulded parapets    and lintel and sill window reveals. The roof is in cement tile with a hipped roof profile and gabled   window features.

Internal finishes are to tenant’s requirements and are of good quality. These include  ceramic tiled and carpeted floors, suspended ceilings with recessed strip and down lighting and   ducted air-conditioning. Restroom facilities and kitchenettes are provided to each building.

The surrounding parking and driveway areas are paved in brick with shade-cloth to part. The perimeter is secured with steel palisade fencing and the grounds are landscaped


Zoning and Title Deed Information

Erf: 1338 Vorna Valley Ext 21

Title Deed Number: T74021/2011

Registered Owner: Government Employees Pension Fund

Local Authority: City of Johannesburg                                    

Extent: 7 418 sqm                                          


Zoning: Special

Height Restriction: 3 storeys

Coverage: 40%

F.A.R: 0.4

Building Lines: 5m metres along street boundaries

Parking:  As per scheme clauses        

Rentable Areas

The property has the following Gross Internal floor areas:


Size (Sqm)







No. of Bays













Tenancy and covenant

Tenant: Road Traffic Infringement Agency

  • Area: 1 687 sqm
  • Lease term: Month to month
  • Rent: R 317 436.97 per month
  • Escalation: 6% per annum
  • Other: This is a key point location for the tenant and we have been informed that they are unlikely to move.

Road Traffic Infringement Agency (RTIA)

The RTIA is an SoE under the National Department of Transport. The agency’s mandate is to facilitate the adjudication process in relation to the infringement notices dispensed by the various Issuing Authorities of the alleged infringers on South African roads



Net operating income

First Year Cashflow Summary

Period 1 March 2022 to 28 February 2023

Gross Income (ZAR)


Gross Expenses (ZAR)


Net Operating Income (ZAR)


A full breakdown of the projected NOI is availalble upon signature of an NDA, along with the tenancy schedules, rent rolls, and plans where available






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