138 / 156
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
31. Commitments
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
31.1 Capital commitments
Approved and committed
135 442
334 470
135 442
334 470
Approved but not yet committed
145 493
80 895
145 493
67 534
280 935
415 365
280 935
402 004
Capital commitments approved and committed
comprise the following:
Development costs
– Clearwater
37 270
7 526
37 270
7 526
– Somerset Mall
36 627
36 627
– Hyde Park
28 062
20 565
28 062
20 565
– Rosebank Mall
10 735
287 502
10 735
287 502
– Woodlands Boulevard
7 530
7 530
– Canal Walk
7 288
13 073
7 288
13 073
– Mall Offices
5 522
5 522
– The Glen
1 716
1 748
1 716
1 748
– Atterbury Value Mart
317
4 056
317
4 056
– CapeGate Regional
251
251
– Willowbridge
101
101
– Somerset Value Mart
23
23
135 442
334 470
135 442
334 470
Capital commitments approved but not yet committed
145 493
80 895
145 493
67 534
The above expenditure will be financed out of available cash resources, banking facilities and debt capital market funding.
31.2 Operating expense commitments
Hyprop has entered into various service contracts for the cleaning, upkeep and general maintenance of its investment property
portfolio.
Operating expense commitments payable to service
providers in future years have been classified as follows:
– Short-term contracts (up to one year)
1 534
1 730
1 534
1 257
– Medium-term contracts (greater than one year and up to
five years)
Nil
Nil
Nil
Nil
Contracts which can be terminated on one month’s notice have been included for one month only.
32. Minimum lease payments receivable
Minimum lease payments comprise contractual rental income and operating expense recoveries from investment property.
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
The minimum lease payments receivable from tenants
have been classified into the following categories:
– Short term (up to one year)
1 543 812
1 490 846
1 543 812
1 467 087
– Medium term (greater than one year and up to five years)
3 674 989
3 548 906
3 674 989
3 437 303
– Long term (greater than five years)
1 184 463
1 143 826
1 184 463
1 134 748
136
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS