Summary

TITLE DEED INFORMATION

Registered:                                Owner Pisces Star Proprietary Limited
Company Registration:             No. 2019/101505/07
VAT Number:                            4900311707
Title Deed No.:                          T00028487/2024
Erf Number:                               Erf 113, Rossmore Township
Street Address:                         13 Chiselhurst Drive, Rossmore, Johannesburg, 2092
Erf Size:                                     1,872 m²
Building Size:                            (GLA) 2,038 m²

SERVITUDES & ENDORSEMENTS

Per the title deed: the Erf is transferred for residential purposes only, with building work requiring prior approval of plans by the Township's registered owner; a building line of no less than 3.15m from the road boundary applies; the property may not be subdivided or transferred in portion; no shops, business premises, or slaughter poles may be erected on the Erf; and no livery stable or stable for race horses in training or riding schools is permitted. These are the original township conditions. Multi-unit residential use for student accommodation has since been permitted under Amendment Scheme 20-01-4832.

MUNICIPALITY INFORMATION

Municipality:                    City of Johannesburg Metropolitan Municipality
Municipal Valuation:       R8,233,000 (effective 1 July 2023)
Rates Account No.:        558874838

Important Notice: The municipal valuation and the Seller's reported development costs are provided for background information only. Neither should be construed as the current market value of the property. The property will be sold subject to the Auction Rules and Conditions of Sale, and prospective purchasers must rely on their own inspections, due diligence and professional advice when determining value.

ZONING INFORMATION

ITEM                                                         PERMITTED                                                                     ACTUAL

Zoning                                                       Residential 4

Amendment Scheme                               20-01-4832

Height                                                       Height Zone A (3 storeys)                                               3 storeys

FAR                                                           1.2                                                                                      1.1

Coverage                                                   60%                                                                                  44%

Density Max                                              100 beds/occupants, subject to conditions                  100 beds
 

ZONING CONDITIONS

REQUIREMENT                                            STATUS

100-bed limit                                               Confirmed by Amendment Scheme 20-01-4832

Live-in manager on site                              Confirmed, caretaker unit occupied by live-in manager

Min. bedroom size                                       9 m² single / 14 m² double (per condition)

Bathroom ratio                                             1 per 4 occupants (per condition)

CERTIFICATES & COMPLIANCE

REQUIREMENT                                            STATUS

Approved building plans                              Confirmed, attached as annexure

Occupation certificate                                  Confirmed, attached as annexure

Electrical Certificate of Compliance            Confirmed, attached as annexure

IMPROVEMENTS

13 Chiselhurst Drive comprises a 100-bed purpose-built student accommodation development across four blocks. Blocks A and B are newly constructed, each rising three storeys (Ground, First and Second Floor) around a central open-air volume, with bedrooms arranged along either side of a covered walkway and connected via internal fire walls and dedicated fire escape staircases at each end, per the approved architectural plans. Blocks C and D comprise the existing structure (868 m², including the original "Main House"), accommodating a further 28 beds.

Facebrick construction is used throughout, offering long-term durability and reduced external maintenance. Each new-construction bedroom measures approximately 9 m², with larger communal rooms of 14-15 m² providing shared kitchenette and ablution facilities between bedroom pairs.

ADDITIONAL FEATURES

✓ Secure, access-controlled accommodation with remote-controlled gate entry
✓ State-of-the-art commercial laundry facilities
✓ Modern shared kitchens and communal living areas
✓ Landscaped atrium gardens and student social spaces
✓ On-site borehole as primary water supply, with municipal connection retained as backup
✓ Fire protection equipment (extinguishers, hose reels) and designated fire escape routes per approved plans

CONSTRUCTION

The buildings are of facebrick construction, offering long-term durability and reduced external maintenance. The new-construction blocks (A & B) rise three storeys around a central open-air volume/walkway, incorporating fire walls between units and dedicated fire escape stairs at each end, per the approved architectural plans.

FIXTURES AND FINISHES

Interior fixtures and finishes throughout Blocks A and B are new and of a high standard, consistent with recent completion. Bedrooms are fitted with built-in wardrobes and study desks, complemented by tiled or laminate flooring and painted walls and ceilings. Communal kitchens feature granite-style countertops, tiled splashbacks, and light-toned cabinetry, while communal lounges are finished with a mix of tiled and laminate flooring, downlighting, and aluminium-framed doors and windows opening onto covered walkways and outdoor areas.

UTILITIES

The property is supplied by an on-site borehole, with the municipal water connection retained and kept open as a backup supply. Water is included in the tenant's monthly rental at the landlord's cost.

Electricity is currently provided on a fully inclusive rental basis, with individual units fitted with prepaid electricity meters that the landlord tops up as part of ongoing operating costs. The seller has estimated an annual utility recovery adjustment based on historical occupancy and consumption. Purchasers should independently verify the current billing methodology, electricity recovery model and future recoverability.

Sewerage and refuse removal are provided by the City of Johannesburg Municipality.

PARKING & YARD

25 parking bays are provided on site, against 22 required per the approved architectural plans and Development Control Measures.

✓ Secure, access-controlled accommodation with remote-controlled gate entry

✓ State-of-the-art commercial laundry facilities

✓ Modern shared kitchens and communal living areas

✓ Landscaped atrium gardens and student social spaces

✓ On-site borehole as primary water supply, with municipal connection retained as backup

✓ Fire protection equipment (extinguishers, hose reels) and designated fire escape routes per approved plans

PERIMETER & ACCESS

The property is secured by a perimeter wall with controlled pedestrian access via a full-height turnstile gate, monitored by CCTV at the main entrance. Access is managed via a card/fob-based entry system, with credentials issued to each tenant on commencement of their lease.

GROSS LETTABLE AREA BREAKDOWN

AREA DESCRIPTION                                            APPROX. GLA (M²)

New Construction, Block A (Ground,

First, Second Floor @ 195 m² each)                      585

New Construction, Block B (Ground,

First, Second Floor @ 195 m² each)                      585

Total New Construction                                          1,170

Existing Structure ("Main House" /

Blocks C & D)                                                            868

Total Approximate Gross Lettable

Area                                                                           2,038

Note: New construction areas per approved architectural plans (Schedule of Rights). Existing structure area per approved plans; internal room-level breakdown not independently verified.

OCCUPATION

The property is leased on an individual per-bed basis directly to students, rather than under a single master lease. Tenants are drawn from five funding categories: private self-funded, private bursary, NSFAS-funded, and NDT-funded (sharing and single rooms). Monthly rentals range from R4,458 to R6,000 depending on room type and funding category.

CONDITION

Blocks A and B represent newly completed construction. The existing structure (Blocks C & D) has been in use as student accommodation prior to the current development. Aldes Auctions has not undertaken a structural survey of the buildings, nor arranged for tests or inspections of the service installations.

INCLUSIONS / EXCLUSIONS

Unless otherwise stated, all movables and/or tenant-installed equipment are excluded from the sale of this property, whether or not mentioned and/or visually represented in this brochure.

SELLER DISCLOSURE(S)

Aldes Auctions has not been made aware of any latent or patent defects to the property, as disclosed by the Seller.

By bidding on this property, prospective purchasers acknowledge that they have acquainted themselves with the extent and nature of the property they are buying and that they accept the property as such.

MICRO LOCALITY

Rossmore is strategically positioned within Johannesburg's primary higher education precinct, situated between the University of Johannesburg's Kingsway and Doornfontein campuses and within reach of the University of the Witwatersrand, placing the property at the centre of one of Gauteng's largest and most established student housing markets.

The broader area is served by Johannesburg's core transport infrastructure, with the M1 highway, Kingsway Avenue and Empire Road providing direct access to the Johannesburg CBD, Sandton, and surrounding economic nodes. This regional connectivity supports strong, long-term demand for student accommodation from a wide catchment across the greater Johannesburg metro.

13 Chiselhurst Drive sits within an established, well-developed residential pocket of Rossmore, characterised by a mix of traditional homes and purpose-built student accommodation that has grown up around the university precinct. The immediate surrounds are quiet and residential in character, while remaining within easy reach of everyday amenities. Within a short distance of the property are Campus Square Shopping Centre (1.5km), SABC Headquarters (2.0km), Helen Joseph Hospital (3.0km) and the University of Johannesburg's Kingsway Campus (5.5km), with Rea Vaya bus routes running directly along Kingsway Avenue, giving residents convenient day-to-day access to retail, medical care, transport and campus life.

• Gross Lettable Income (GLI): R6,600,000 Annual Rental Income
• 100-Bed Premium Newly Completed Student Accommodation
• Brand-New, Fully Inclusive Purpose-Built Student Accommodation
• Prime Rossmore Location, Minutes from the University of Johannesburg
• Secure Access-Controlled Student Accommodation
• State-of-the-Art Commercial Laundry Facilities
• Established Student Accommodation Asset Class with Strong Occupancy and Consistent Demand
• Diversified Rental Income Across 100 Student Beds
• 2,038 m² Gross Lettable Area (GLA)
• 99 of 100 Beds Tenanted, Near-Full Occupancy from Date of Transfer
• Newly Installed Borehole as Primary Water Supply
• Residential 4 Zoning, High-Density Residential Development Rights
• Modern Shared Kitchens and Communal Living Areas
• Landscaped Atrium Gardens and Student Social Spaces
• Excellent Access to Public Transport, Retail Amenities and Major Transport Routes
• Registered Corporate Ownership with Clean Title
• Landlord-Borne Electricity Cost Presents a Clear Opportunity to Add Solar and Reduce Operating Expenses

Exclusions: Unless otherwise stated, all movables and/or tenant-installed equipment are excluded from the sale of this property, whether or not mentioned and/or visually represented in this brochure.

By bidding on this property, prospective purchasers acknowledge that they have acquainted themselves with the extent and nature of the property they are buying and that they accept the property as such.

METRIC                                                                        VALUE

Asset Class:                                                                 Premium Student Accommodation

Address:                                                                       13 Chiselhurst Drive, Rossmore, Johannesburg, 2092

GPS Coordinates:                                                       -26.1871, 27.9986 (approx., street-level)

Erf:                                                                                Erf 113, Rossmore Township, Registration Division I.R., Gauteng

Erf Size:                                                                        1,872 m²

Gross Lettable Area:                                                   (GLA) 2,038 m²

Beds:                                                                             100

Zoning:                                                                          Residential 4 (Amendment Scheme 20-01-4832)

Rates & Taxes:                                                              R75,706 per annum (see Annual Operating Performance)

Current Occupancy:                                                     99 of 100 beds tenanted (1 caretaker unit)

Annual Gross Income:                                                 (GLI) R6,600,000

Net Income Before Purchaser Adjustments:             R5,868,847

Water Supply:                                                              On-site borehole (primary supply), municipal connection retained

                                                                                       as backup

Sale Method:                                                                Public Auction

GPS coordinates are approximate (public map data), not surveyed.

IMPROVEMENTS

13 Chiselhurst Drive, Rossmore is a purpose-built, 100-bed student accommodation asset offered to the market by public auction, located within minutes of the University of Johannesburg's Kingsway Campus. The development comprises approximately 2,038 m² of Gross Lettable Area on a 1,872 m² erf, zoned Residential 4.

Facebrick construction offers long-term durability and reduced external maintenance. The property is supported by an on-site borehole as the primary water supply, secure access-controlled accommodation, communal kitchens, and commercial laundry facilities.

Buyers must assess this opportunity on the basis of verified income, operating costs, zoning rights, approved improvements, and independent due diligence.

OCCUPATION

The property is leased on an individual per-bed basis directly to students, rather than under a single master lease. Tenants are drawn from five funding categories: private self-funded, private bursary, NSFAS-funded, and NDT-funded (sharing and single rooms). Monthly rentals range from R4,458 to R6,000 depending on room type and funding category.

✓ Property sold subject to confirmation by the Seller
✓ Property sold voetstoots
✓ FICA documentation required prior to bidding
✓ Purchaser responsible for transfer costs unless otherwise stated
✓ Seller VAT Registered. VAT or Transfer Duty payable as applicable.
✓ Sale Agreement available on request
✓ Deposit and commission payable immediately after the auction
✓ Guarantees required within 30 calendar days of acceptance
✓ Occupation and risk transfer position, to be confirmed
✓ Arrear rates / municipal clearance responsibility, to be confirmed

INCOME & EXPENSES                                ANNUAL (R)

Gross Lettable Income (GLI)                         6,600,000

Less: Vacancy Allowance (5%)                      (330,000)

Effective Gross Income (EGI)                        6,270,000

Rates & Taxes                                                   (75,706)

Electricity                                                         (312,000)

Water                                                                    (  781)

Sewerage                                                         (12,666)

Total Operating Expenses                             (401,153)

Net Income Before

Purchaser Adjustments                                5,868,847

The above financial information has been compiled from information supplied by the seller and supporting documentation made available during the preparation of this report. Purchasers are expected to conduct their own due diligence regarding operating costs, management structures and future operating assumptions.

PURCHASER OPERATING CONSIDERATIONS

These may include:

These operating costs vary significantly depending on whether the property is owner-managed, professionally managed, self-operated or outsourced

and have therefore not been standardized in this Broker's Opinion of Value.

✓ Live-in manager (where required by municipal approval): R26,000pm

✓ Security: R19,000pm

✓ Repairs and maintenance (brand new building, completed 2026, viewings will confirm maintenance is low): R3,000 to R6,000pm

✓ Insurance: R3,202pm

✓ Wi-Fi and telecommunications: R10,476pm

These operating costs vary significantly depending on whether the property is owner-managed, professionally managed, self-operated or outsourced and have therefore not been standardized in this Broker's Opinion of Value.

WHO WOULD BUY THIS PROPERTY

✓ Student accommodation operators and portfolio managers
✓ Private property investors seeking income-yielding residential assets
✓ High-net-worth individuals diversifying into alternative residential accommodation
✓ Family offices and private equity vehicles
✓ Property developers evaluating Residential 4 densification potential
✓ Existing landlords near the University of Johannesburg
✓ Buyers wanting operational infrastructure already in place
 

BIDDING

The conduct of the auction is subject to the control of the Auctioneer, who has the sole right to regulate the bidding procedure, may
regulate increments, may refuse any bid, and may reopen bidding in the event of a dispute. The auctioneer or agent may bid up to the
reserve price on behalf of the owner, but shall not bid at or above the reserve price. Every bid constitutes an offer to purchase on the
terms of the Conditions of Sale, which the Seller may accept or reject at their absolute discretion.

AUCTION DATE
28 July 2026

AUCTION TIME
10:00

AUCTIONEER
Peet Brits

Seller Disclosure:
All information contained in this brochure has been supplied by the Seller and has not been independently verified by Aldes Business
Brokers (Pty) Ltd trading as Aldes Auctions ("Aldes Auctions"). Neither Aldes Business Brokers (Pty) Ltd, trading as Aldes Auctions, its
directors, employees, representatives, affiliates, nor the Seller makes any representation or warranty, whether express or implied, as to
the accuracy, completeness or correctness of any information contained herein, including but not limited to income, expenses,
occupation, zoning, approvals, compliance, measurements, or the condition of any movable or immovable property.

AUCTION TERMS

Registration Fee                             R25,000 refundable deposit via EFT payable prior to auction. No cash accepted.
FICA                                                 ID, proof of residence, and letter of authority required to sign on behalf of a juristic entity.
Purchaser's Deposit                       5% of purchase price payable immediately on fall of the hammer. Non-refundable.
Commission                                    7% Seller VAT Registered. VAT or Transfer Duty payable as applicable.
Confirmation Period                       5 business days
Guarantee Period                           Within 30 calendar days from acceptance
Transfer Attorney                            AR Mahomed Attorneys
General                                            CPA 2008 applies. Rules of auction available on request. Auctioneer may bid to reserve.
                                                          Subject to change without notice.

In accordance with industry best practice, Aldes Auctions will present the seller with the highest bid achieved at the
auction for acceptance and will not accept any counter offers during this confirmation period.

REGISTRATION & AUCTION INFORMATION

Auction Information Registration & Contact Information

Auction Date & Time                  Tuesday, 28 July 2026 at 10h00 (SAST)

Auction Commences                  10h00

Viewing Venue                             13 Chiselhurst Drive, Rossmore, Johannesburg

Bidder Registration

Deposit                                          R25,000 (Refundable, subject to the Conditions of Sale)

Payment Method                           Electronic Funds Transfer (EFT) Only

                                                        VAT 15% (where applicable)

Auction House                               ALDES Business Brokers (Pty) Ltd t/a Aldes Auctions

Physical Address                           462 Sussex Avenue, Lynnwood, Pretoria, 0081

Telephone                                       +27 (0)12 361 2690

Registration Assistance                 Mirinda Duvenage

Lead Auctioneer                              Peet Brits

WhatsApp                                        Peet Brits: 076 270 7844

                                                          Wynand Wolmarans: 083 401 7014

Email                                                peetb@aldes.co.za

SUCCESSFUL PURCHASER – AMOUNTS PAYABLE ON THE FALL OF THE HAMMER

The successful purchaser shall immediately upon the fall of the hammer pay the following
amounts by EFT: Description Amount Non-Refundable Seller's Deposit 5% of the Purchase Price Buyer's Commission 7% (excluding VAT)
VAT on Buyer's Commission 15% Total Payable Immediately 13.05% of the Purchase Price

Important Notes
•  The above amounts are payable immediately on the fall of the hammer by
   Electronic Funds Transfer (EFT) only.
•  No cash, cheque, or card payments will be accepted unless otherwise approved in
   writing by the Auctioneer.
•  Registration deposits are refundable only in accordance with the Conditions of Sale.
•  The balance of the purchase price shall be payable in accordance with the Conditions
   of Sale and the Agreement of Sale.
•  All amounts are subject to VAT at the prevailing rate, where applicable.

Note: Request for Registration Documentation

13 Chiselhurst Drive, Rossmore, Johannesburg, 2092

AUCTION DATE
28 July 2026

AUCTION TIME
10:00