Overview of Property Portfolio
Comprising five property segments – Retail, Office, Industrial, V&A Waterfront and GOZ, each focused on achieving sustainable rental growth.
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RETAIL |
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OFFICE |
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NDUSTRIAL |
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V&A
WATERFRONT** |
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GOZ*** |
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Provides leading retail
accommodation
to a diversity of
retailers, restaurants
and banks, mostly
in regional shopping
centres |
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Accommodates
businesses in a range
of quality offices,
from high-rise
buildings and office
parks to tailor-made,
company-specific
developments |
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Supplies premises
to industries in well-established
industrial
nodes, ranging from
warehousing and
showrooms to high-tech
manufacturing |
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Provides quality
accommodation to a
mix of retail, office,
fishing, industrial,
hotel and residential
tenants |
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A portfolio of high
quality industrial
warehouses and
offices providing
accommodation
to predominantly
blue-chip Australian
businesses across all
states |
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| Asset value (Rbn) |
|
28,2 |
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33,0 |
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10,4 |
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6,8 |
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22,0 |
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| Number of properties |
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58 |
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184 |
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229 |
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1 |
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53 |
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| Gross lettable area (GLA) (m²) |
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1 410 461 |
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1 790 428 |
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2 225 075 |
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202 658 |
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1 050 611 |
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| GLA as % of total portfolio (%) |
|
21.1 |
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26.8 |
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33.3 |
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3.1 |
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15.7 |
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| Net property income (Rm) |
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1 470 |
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2 122 |
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|
892 |
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|
399 |
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1 631 |
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| Net property income as a % of total
portfolio (%) |
|
22.6 |
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|
32.6 |
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|
13.7 |
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6.1 |
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25.0 |
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| Value per m² (R) |
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20 003 |
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18 411 |
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4 690 |
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33 362 |
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20 963 |
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| Value (excl bulk) per m² (R) |
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19 996 |
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17 562 |
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4 589 |
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30 840 |
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20 963 |
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| Average gross rental
(R per m²/month) |
|
156 |
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|
142 |
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|
43 |
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|
|
186 |
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188* |
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| Forward yield (%) |
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7.7 |
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8.4 |
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10.1 |
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7.0 |
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7.3 |
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| Average in-force escalations (%) |
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7.4 |
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7.7 |
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8.4 |
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8.3 |
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3.0 |
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| Weighted average lease
period (years) |
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3.8 |
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4.2 |
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2.8 |
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7.8 |
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6.7 |
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| Property expense ratio (%) |
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26.3 |
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23.1 |
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22.4 |
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27.8 |
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11.6 |
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| Drivers |
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Demand for retail
space driven by
retailer expansion
strategies
underpinned by
population growth,
wealth creation and
consumer spend
dynamics |
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Changing business
needs, business
growth and
international
company operations
in South Africa |
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Distribution and
warehousing
requirements, import
and export demands,
manufacturing
activity, motor
trade dynamics, and
infrastructure spend |
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Retail and office
drivers, international
and local tourism and
residential property
market demand
dynamics |
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Industrial:
Distribution and
warehousing
demand driven by
activity in the retail,
manufacturing,
import and export
markets, and
changing business
needs and operations
of corporate Australia
Office: changing
business needs and
business growth |
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* The rental for Australia is shown as average net rental per annum in AUD.
** Represents 50% of the V&A Waterfront.
*** Represents 100% of the GOZ portfolio. |
| CONTRIBUTION TO DISTRIBUTION |
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GEOGRAPHICAL SPREAD BY VALUE |
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