Lease register
Cape Gate
Express · 118 m² · 5 yr · exp Apr 2031
Re-extracted from the signed 2026 lease — corrects the register's R112,902 / 8% to R98,176 / 7%, and the stale 2023 expiry to 2031. Watch the demolition clause and the entity defect.
Risk register
- Highcl 24
Demolition / redevelopment termination on 6 months' notice — no compensation
- Highcl 15
Landlord may relocate you on 90 days' notice
- Highcl 1.2 / cover
Party identity confused — names Telkom SA SOC + wrong reg numbers
- Mediumcl 26
Sweeping liability exclusion, even for landlord's own negligence
Vs. Feathercom standard
- Escalation: 7%, but opex at 8%
- Turnover excl. cellular: Yes — best of the four
- Drafting integrity: Wrong entity / reg no. / stale dates
Lease expiry countdown
ranked soonest first11 leases have already lapsed — likely trading on holdover. Prioritise renewal or exit.
- Parelberg: bank guarantee of R63 914 expires Aug 2026 (2 months) — renew before the landlord can call it.
Occupancy cost ratio
rent ÷ monthly sales · avg 18.6% · 5 distressedSample sales shown — type each store's real monthly sales to replace. Verified stores use full occupancy cost; unverified use rent only.
Bank sureties & deposits
working capital secured to landlordsConverting the 2 cash deposits to bank guarantees would free a further R198 614 of working capital.
| Store | Type | Issuing bank | Amount | Expiry | Status | Reference |
|---|---|---|---|---|---|---|
| Parelberg | Bank guarantee | Standard Bank | R63 914 | Aug 2026 | Expiring | BG-PB-2026-077 |
| N1 City | Cash deposit | — | R158 014 | Aug 2027 | Active | DEP-N1-2026 |
| Blue Downs | Cash deposit | — | R40 600 | Apr 2029 | Active | DEP-BD-2026 |
| Cape Gate | Bank guarantee | Nedbank | R401 405 | Jun 2031 | Active | BG-CG-2026-0418 |
Seeded for the 4 verified stores — finance to confirm bank, reference and evergreen flags. Goes straight into the Excel export.
The Feathercom standard
Decision-support only — accelerates review, doesn’t replace legal sign-off. Figures excl VAT.