P. ADDITIONAL PROPERTY INFORMATION (EXCLUDED FROM THE AUDITED FINANCIAL STATEMENTS)
P1 SA REIT DETAILED PROPERTY DISCLOSURES
 

While section 13 of the JSE Listings Requirements prescribes certain disclosures applicable to property counters, SA REIT recommends that its members disclose the following additional information to provide users with more granular detail of the underlying properties as envisaged by the original REIT legislation, namely, to give investors the opportunity to fully understand the underlying properties that they invest in through the purchase and sale of a REIT's shares.

 
Group
June 2020
  Acquisition date Completion/
major
development date
Land area Occupied
GLA
Vacant
GLA
Total GLA SA REIT
average
annualised
property
yield
Average
lease
length
Rental
escalation
(Excluding properties held-for-sale)
Geographical profile
South Africa 1 422 335 688 806 21 759 710 565 7.6 3.9 6.5
  Gauteng 723 175 400 518 17 947 418 464 8.3 4.1 6.5
  Western Cape 699 160 288 288 3 812 292 100 6.8 3.6 6.5
Sub-Saharan Africa
Sectoral profiles
Retail 1 422 335 682 660 21 049 703 709 7.6 3.9 6.5
Shopping centres 1 303 779 634 151 20 926 655 078 7.5 3.9 6.5
  Super regional 233 849 155 575 3 319 158 894 6.6 3.9 6.9
    Canal Walk   17 Oct 03 2018 233 849 155 575 3 319 158 894 6.6 3.9 6.9
  Large regional 1 027 479 444 419 12 911 457 330 8.0 4.0 6.4
    Clearwater Mall   01 Sep 11 194 545 85 797 1 235 87 032 8.9 4.4 6.7
    The Glen   27 Dec 01 2018 98 689 77 922 2 207 80 129 8.8 4.3 5.7
    Woodlands   01 Sep 11 215 684 69 700 2 121 71 821 9.0 4.3 6.2
    CapeGate   01 Sep 11 242 438 63 798 440 64 238 7.7 3.8 6.7
    Somerset Mall   01 Oct 13 222 873 68 916 53 68 969 6.6 3.1 5.8
    Rosebank Mall   25 Apr 03 2018 53 250 78 286 6 855 85 141 7.1 4.0 7.2
  Regional 42 451 34 157 4 696 38 854 7.5 3.8 6.0
    Hyde Park Corner   08 Sep 98 42 451 34 157 4 696 38 854 7.5 3.8 6.0
Value centres (Atterbury Value Mart)   01 Sep 11 118 556 48 509 123 48 631 8.5 4.0 6.4
Offices (standalone offices only)   01 Jun 09 6 146 710 6 856 6.4 3.9 7.2
Total 1 422 335 688 806 21 759 710 565 7.6 3.9 6.5
(1) All properties listed above are externally valued as at 30 June 2020.
(2) The Group has 10 retail properties and one standalone office (2019: 10 retail, 1 office).
(3) All properties are 100% owned except Canal Walk (80%) and The Glen (75.16%).




P1.1
Group
June 2019
  Acquisition date Completion/
major
development date
Land area Occupied
GLA
Vacant
GLA
Total GLA SA REIT
average
annualised
property
yield
Average
lease
length
Rental
escalation
(Excluding properties held-for-sale)  
Geographical profile  
South Africa   1 422 335 696 885 9 741 706 626 7.5 4.2 7.7
  Gauteng   723 175 406 583 8 472 415 054 7.6 4.3 7.4
  Western Cape   699 160 290 303 1 269 291 572 7.2 3.8 8.1
Sub-Saharan Africa   51 360 21 658 565 22 223 8.5 3.4 3.7
Sectoral profiles  
Retail 1 473 695 714 479 9 903 724 382 7.4 4.1 7.3
Shopping centres   1 355 139 666 232 9 500 675 732 7.3 4.0 0.2
  Super regional   233 849 157 468 1 269 158 737 6.9 4.0 8.6
    Canal Walk   17 Oct 03 2018 233 849 157 468 1 269 158 737 6.9 4.0 8.6
  Large regional   1 027 479 451 578 4 458 456 036 7.3 4.1 7.5
    Clearwater Mall   01 Sep 11 194 545 86 817 241 87 058 7.2 4.6 8.0
    The Glen   27 Dec 01 2018 98 689 77 235 3 196 80 431 7.9 4.7 7.2
    Woodlands   01 Sep 11 215 684 71 566 61 71 627 7.0 4.5 7.4
    CapeGate   01 Sep 11 242 438 63 832 - 63 832 7.4 4.1 8.0
    Somerset Mall   01 Oct 13 222 873 69 003 - 69 003 7.2 3.4 7.8
    Rosebank Mall   25 Apr 03 2018 53 250 83 125 960 84 085 6.8 3.7 6.8
  Regional 93 811 57 186 3 773 60 959 7.7 3.7 5.5
    Hyde Park Corner   08 Sep 98 42 451 35 528 3 209 38 737 7.0 4.0 7.3
    Ikeja City Mall   17 Nov 15 51 360 21 658 565 22 223 8.5 3.4 3.7
Value centres (Atterbury Value Mart)   01 Sep 11 118 556 48 247 403 48 650 8.5 4.5 7.7
Offices (standalone offices only)   01 Jun 09 4 065 403 4 468 8.8 4.2 7.8
Total 1 473 695 718 544 10 306 728 850 7.6 4.1 7.3
(1) All properties listed above are externally valued as at 30 June 2020.
(2) The Group has 10 retail properties and one standalone office (2019: 10 retail, 1 office).
(3) All properties are 100% owned except Canal Walk (80%) and The Glen (75.16%).
P1.2 Top 10 tenants by GLA
 

South Africa

      GLA m2 % of segment GLA
Rank / tenant Prior year   June 2020   June 2019   June 2020   June 2019  
1  Woolworths 2   53 218   53 199   7.5%   7.5%  
2   Edcon Group 1   48 058   57 145   6.8%   8.1%  
3   Massmart Group 3   49 616   49 616   7.0%   7.0%  
4   Pick n Pay Ltd 4   49 460   49 570   7.0%   7.0%  
5   Foschini Group 5   34 124   35 698   4.8%   5.1%  
6   Mr Price Group 6   27 824   28 825   3.9%   4.1%  
7   Pepkor Holdings 7   23 914   22 047   3.4%   3.1%  
8   Shoprite Holdings 10   21 146   17 046   3.0%   2.4%  
9   Nu Metro 8   17 753   17 753   2.5%   2.5%  
10  Truworths Ltd 9   16 738   17 642   2.4%   2.5%  
P1.3 Top 10 tenants by revenue
 

South Africa

      Revenue R000 % of segment revenue
Rank / tenant Prior year   June 2020   June 2019   June 2020   June 2019  
1   Foschini Group 2   152 425   157 916   6.8%   6.9%  
2   Edcon Group 1   144 039   163 785   6.4%   7.2%  
3   Mr Price Group 3   95 210   92 974   4.2%   4.1%  
4   Massmart Group 4   90 336   87 192   4.0%   3.8%  
5   Pepkor Holdings 5   80 189   73 215   3.6%   3.2%  
6   Truworths Ltd 6   68 936   72 611   3.1%   3.2%  
7   Woolworths 7   66 088   66 220   2.9%   2.9%  
8   Pick n Pay Ltd 8   62 428   59 393   2.8%   2.6%  
9   Cape Union Mart Group 9   53 537   51 294   2.4%   2.2%  
10  Cotton On Group 11   44 672   45 714   2.0%   2.0%
P1.4 Top 10 tenants by GLA
 

Sub-Saharan Africa (Ikeja City Mall)

      GLA m2   % of segment GLA  
Rank / tenant Prior year   June 2020   June 2019   June 2020   June 2019  
1   Shoprite 1   5 002   5 002   22.5%   22.5%  
2   Silverbird Cinemas Limited 2   1 612   1 611   7.3%   7.3%  
3   Mr Price Chain Stores International Ltd 4   685   685   3.1%   3.1%  
4   Miniso Lifestyle Nigeria Limited 7   509   509   2.3%   2.3%  
5   Rhapsody Master Franchise Ltd 5   453   558   2.0%   2.5%  
6   Silver Plates Development Limited   415     1.9%    
7   Heavenly Dews Global Concepts Ltd   335     1.5%    
8   Devyani International Nigeria Limited   306     1.4%    
9   Gourmet Foods Limited 9   224   224   1.0%   1.0%  
10  Food Concept Plc 10   214   214   1.0%   1.0%
P1.5 Top 10 tenants by revenue
 

Sub-Saharan Africa (Ikeja City Mall)

      Revenue R’000   % of segment revenue  
Rank / tenant Prior year   June 2020   June 2019   June 2020   June 2019  
1   Shoprite 1   23 388   22 805   19.8%   13.9%  
2   Mr Price Chain Stores International Ltd 3   6 107   4 845   5.2%   3.0%  
4   Heavenly Dews Global Concepts Ltd   4 182     3.5%    
3   Silverbird Cinemas Limited 4   5 109   4 027   4.3%   2.5%  
5   Miniso Lifestyle Nigeria Limited 7   4 133   3 263   3.5%   2.0%  
6   Rhapsody Master Franchise Ltd 5   4 048   3 673   3.4%   2.2%  
7   Gourmet Foods Limited 9   3 461   2 767   2.9%   1.7%  
8   Food Concept Plc 8   3 421   2 947   2.9%   1.8%  
9   Devyani International Nigeria Limited   3 157     2.7%    
10 Silver Plates Development Limited   3 114     2.6%