Wedgefield Phase III

17 Muswell Road |  Bryanston | Johannesburg | 2191

Price on Application



Investment highlights

  • Multi-tenanted investment grade office opportunity  

  • Offers easy access to the N1 Western Bypass via William Nicol Drive

  • Great exposure to  passing traffic on William Nicol Drive 

  • Bryanston is a strong office node, with various amenities including hospitals, shopping centres, residential suburbs and schools 

  • Budgeted first year’s forward Net Operating Income of approximately R3.1 million 


Bryanston is a well-established northern suburb of Johannesburg, surrounded by Fourways, Rivonia and Magaliessig. The area is bounded by the N1 Western Bypass, with Main Road (M71) being a key arterial route through the area.

Bryanston enjoys a mix of property types, but predominately comprises of commercial properties along the main throughfares and large affluent residential suburbs.

The property forms part of the Wedgefield Office Park at 17 Muswell Road which enjoys excellent exposure to William Nicol Drive. The N1 interchange is located approximately two kilometres to the north.


The property is developed in pseudo-Georgian style with B-grade offices over 2 levels with basement parking and built-in neutral shaded face brick. The roof is clay tiled and the building provides covered balconies. The aspect is northerly across landscaped gardens and open parking. Internal finishes are to tenant specifications. External works include brick paving and the perimeter is secured with access control, brick walls and steel palisade fencing.


Zoning and Title Deed Information

Erf: 46 Bryanston

Tenure: Freehold

Registered Owner: Government Employees Pension Fund

Title deed number: T35099/2011

Local Authority: City of Johannesburg

Extent: 17,990 sqm

Zoning: Special

Floor Area Ratio: 0.20

Coverage: 60%

Height: 2 Storeys

Building lines: 8m street boundaries and 5m along all other boundaries

Rentable Areas

Use Use Size (Sqm) / Bays
Office 4,834
Storeroom 94
Total 4,928
Open 96
Covered 89
Other 126
Total 311



Tenancy and covenant

The property is currently occupied by 2 tenants which take up 46% of the GLA. The tenancy is as follows:

Tenant: Lenovo South Africa (Pty) Ltd

  • Area: 840 sqm
  • Lease term: The lease commenced on 01 May 2021 and expires on 30 April 2023.
  • Rent: R 80,186 per month
  • Escalation: 6% per annum

Tenant: Chartered Accountants Medical Aid Fund (Pty) Ltd

  • Area: 2,118 sqm
  • Lease term: The lease commenced on 01 December 2020 and expires on 30 November 2021.
  • Rent: R 254,160 per month






Lenovo South Africa (Pty) Ltd forms part of the Lenovo Group limited, a multinational technology company founded in Beijing in 1984. Lenovo designs, develops, manufactures and sells electronic devices such as computers, smartphones, tablets, and tech infrastructure such as servers, supercomputers and IT management software. Lenovo operates in over 60 countries and sells products in over 180 countries.

Chartered Accountants Medical Aid FUND (CAMAF) CMS

The Chartered Accountants Medical Aid Fund (CAMAF), which was established in 1951, was originally designed for accounting professionals and offers superior benefits to qualifying members. The fund focuses on a niche market and provides a range of benefits that are competitive relative to most open schemes


Net operating income


Period September 21 - August 22  
Gross Income (ZAR) R7,852,517 
Gross Expenses (ZAR) R4,703,028 
Net Operating Income (ZAR) R3,149,489

Income assumptions 

  • Assuming a 1-year renewal to the lease at expiry 
  • Assumed vacant space let up for 7 months at R100/sqm. 
  • Assumed vacant covered parking let up for 7 months at R470/bay. 

A full breakdown of the projected NOI is available upon signature, 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.


Contact Details

PJ Muller +27 (0) 82 888 0828
Kedibone Bolofo +27 (0) 83 988 1740



Pepler Sandri +27 (0) 82 445 5496
Thabiso Malibeng +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.