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PROPERTY PORTFOLIO
Business segment
Location
Rentable area
m
2
Total value
R000
Value attributable
to Hyprop
R000
30 June 2014
Canal Walk
Cape Town
157 031
7 580 000
6 064 000
Super regional
157 031
7 580 000
6 064 000
Clearwater
Johannesburg
86 028
3 473 000
3 473 000
The Glen
Johannesburg
76 849
2 740 000
2 059 269
Woodlands Boulevard
Pretoria
71 617
2 196 000
2 196 000
CapeGate Regional
Cape Town
63 699
1 400 000
1 400 000
Somerset Mall
Cape Town
66 831
2 252 000
2 252 000
Large regional
365 024
12 061 000
11 380 269
Hyde Park
Johannesburg
38 345
1 769 000
1 769 000
Regional
38 345
1 769 000
1 769 000
Atterbury Value Mart
Pretoria
47 786
1 105 000
1 105 000
Somerset Value Mart
Cape Town
12 386
185 000
185 000
Value centres
60 172
1 290 000
1 290 000
Shopping centres
620 572
22 700 000
20 503 269
Standalone offices
Johannesburg
4 506
90 000
90 000
Development property
(1)
Johannesburg
1 849 000
1 849 000
Held for sale
(2)
156 061
1 779 000
1 731 000
Manda Hil (African Land)
Lusaka, Zambia
44 000
1 618 506
1 408 262
Investment property
781 139
28 036 506
25 581 531
Listed property securities
AttAfrica (Hyprop Mauritius)
812 459
812 459
Word4Word
Fund management
Net interest
Straight-line rental income accrual
781 139
28 848 965
26 393 990
Reconciliation to statement of financial position
Held for sale
(4)
20 601
Other non-current assets
39 328
Other current assets
228 525
African Land
(5)
235 974
Word4Word
289
26 918 707
Reconciliation to statement of comprehensive income
A reconciliation of distributable earnings to net income after taxation is as follows:
Distributable earnings
Debenture interest
Change in fair value – Investment property
– Derivatives
– Listed property securities
Profit on disposal – Investment property
– Associate company (Mantrablox)
– Listed property securities
Gain on bargain purchase (African Land)
Amortisation of debenture premium
Impairment of goodwill
Net income – Hyprop Mauritius
– African Land (Manda Hill Shopping Centre)
Dividends received – Hyprop Mauritius
– African Land (Manda Hill Shopping Centre)
Capital items not included for distribution purposes
Deferred taxation (listed property securities and other)
Net income before taxation
Units in issue for distribution per unit (excluding treasury shares). Refer to note 14
Distribution per unit (based on distributable earnings)
Note
(1)
Rosebank Mall and Mall Offices – transferred to development property from September 2012
(2)
Willowbridge, CapeGate Lifestyle, Stoneridge, Lakefield Office Park, Glenwood Office Park and Glenfield Office Park
(3)
Based on 2014 net property income
(4)
Other assets and liabilities held for sale
(5)
Building appurtenances, tenant installations and non-controlling interest of African Land
SEGMENTAL ANALYSIS
continued
for the year ended 30 June 2015
150
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS