Benchmarks

The cycle 2026-04 audit returns a gross recoverable position of R518,045 across 13 recover-verdicted rows, offset by R27,045 in confirmed liabilities, giving a net recoverable of R491,000 for the period. The dominant movements are utility-side: bulk meter MM-01's tariff band misalignment against the CoJ commercial schedule has accumulated R124,800 over eight cycles, and Volta Studios' OpEx pro-rata shortfall — billed 0.4% below its GLA-weighted entitlement for 14 consecutive cycles — adds a further R117,600, together accounting for nearly half of the gross position. On the lease side, AfriSky Logistics is the most complex tenant this cycle, carrying three concurrent recover rows spanning an escalation under-application, a turnover-rent gap on both Q4 2025 and the active quarter, and a municipal pass-through shortfall, but also a material liability on GLA overstatement of 61 sqm confirmed by the April BOMA re-survey, which will require a deed of amendment before the recovery can be lodged cleanly. Three items remain under investigation — SM-12's six-cycle estimated-read drift, SM-19's power factor falling below threshold, and a Block C common-area allocation drift — and none carries a quantified variance yet, so engineering sign-off is needed before any of those positions can be moved to invoice.

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