With Cape Town expanding predominantly north of the N1, the subject property represents a unique
and (most probably) the only large extent of industrial zoned land left south of the N2, centrally
located west of the R300 and east of the M3 road.

Its value as a mixed-use development of industrial and general business means the subject property
means good value and an attractive proposition for an investor.

Taking the effect of COVID into consideration, we have made a 10-15% adjustment in market values
to reflect this, although market data has not quite reflected this at the date of valuation.

Having said that our view is that industrial parks (unlike retail and office spaces units greatly affected
currently) remain part of the primary cogs in the wheel in the food chain of the economy. This,
together with the good location and a diversified offering of uses, insulates the property greatly as to
the economic effects of COVID and current recessionary movements.