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Held for sale, disposals and acquisitions
In line with our strategy of primarily owning premium shopping centres, we are disposing of our standalone office portfolio and non-core retail assets. To date,
the following properties have been sold:
Proceeds
Rm
CapeGate Value Centre
30
CapeGate Lifestyle Centre
323
Stoneridge
480
Total
833
The proceeds of these disposals were applied to reduce debt. Efforts to sell Willowbridge Centre, Somerset Value Mart and Pretoria standalone office portfolio
are continuing.
Lease renewal profile
Vacancy
%
2015/2016
%
2016/2017
%
2017/2018
%
2018/2019
%
2019+
%
By income
Canal Walk
31
16
16
11
26
Clearwater
13
12
13
8
54
The Glen
20
18
13
11
38
Woodlands
7
13
13
11
56
CapeGate Shopping Centre
24
19
13
4
40
Somerset Mall
28
16
25
19
12
Rosebank Mall
4
11
8
34
43
Hyde Park Corner
21
13
15
16
35
Willowbridge
39
14
17
7
23
Somerset Value Mart
36
39
25
0
0
Atterbury Value Centre
20
26
23
17
14
Offices
18
30
23
5
24
Total
21
16
16
13
34
By rentable area
Canal Walk
1
32
11
13
11
32
Clearwater
0
9
6
10
4
71
The Glen
1
22
18
8
9
42
Woodlands
0
3
11
8
5
73
CapeGate Shopping Centre
1
20
17
7
2
53
Somerset Mall
2
20
10
22
34
12
Rosebank Mall
1
8
4
7
24
56
Hyde Park Corner
1
20
8
11
8
52
Willowbridge
4
38
15
12
6
25
Somerset Value Mart
16
31
32
21
0
0
Atterbury Value Centre
0
19
28
21
18
14
Offices
8
18
24
23
5
22
Total
2
20
14
13
11
40
Woodlands Boulevard, Pretoria
39
Hyprop Investments Limited
Integrated Report 2015