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2015 IN PERSPECTIVE
GROUP PROFILE AND STRATEGIC FOCUS
The core portfolio consists of premier shopping centres in South
Africa, including super regional centre Canal Walk, large regional centres
Clearwater Mall, The Glen Shopping Centre, Woodlands Boulevard,
CapeGate Shopping Centre, Somerset and Rosebank Malls, and regional
centre Hyde Park Corner. The portfolio also includes interests in Accra
Mall and West Hills Mall (both in Accra, Ghana), and Manda Hill Centre
in Lusaka, Zambia.
Our structure provides a solid foundation for growth. We have
11 prime shopping centres in South Africa, two co-owned. Quality
assets, strong contractual lease escalations and a sound balance sheet,
position Hyprop well to weather the impact of a challenging economic
environment. Our assets dominate in terms of average size, which helps
Investment proposition
Hyprop offers investors direct access to high-quality shopping
centres in sub-Saharan Africa and other emerging markets through
a transparent investment vehicle focused on income and capital
growth.
Each Hyprop shopping centre is distinguished by:
Q
Quality, size and location, catering to middle to higher-income
consumers
Q
Mix of flagship national and international retail tenants
Q
Being the preferred shopping destination in high-density,
metropolitan areas.
Held for sale R1,2 billion
Properties sold R51,3 million
Sub-Saharan Africa
(excluding SA)
R42,4 million*
Sub-Saharan Africa
(excluding SA)
R2,3 billion
5,8%
4,3%
8,2%
2,9%
2,4%
88,9%
87,5%
Core South African portfolio
R1,6 billion
Core South African portfolio
R25,0 billion
Investments
Distributable income
Investment profile
Held for sale R104,8 million
* After finance costs
Hyprop, Africa’s leading specialist shopping centre Real Estate Investment Trust (REIT), operates an
internally managed portfolio of shopping centres in major metropolitan areas across South Africa.
Hyprop also has a growing presence in sub-Saharan Africa, through a joint venture with Attacq
Limited (Attacq) and the Atterbury Group.
Group profile
to attract new concept and flagship stores, and are preferred locations
for international brands. These characteristics provide defensive
qualities in an economic downturn. In South Africa, our assets are
internally managed by capable, experienced teams. Our hands-on
approach allows us to effectively optimise our assets.
In terms of sustainable growth, we are well placed to capitalise on
African opportunities. Hyprop’s growing presence in sub-Saharan Africa,
in addition to Accra Mall in Accra, Ghana and Manda Hill in Lusaka,
Zambia; now also includes the 27 500m
2
West Hills Mall in Accra,
Ghana, which opened in November 2014, while construction is now
complete at Achimota Mall in Accra, which opened in October 2015.
Construction is under way at Kumasi City Mall in Kumasi, and is due for
completion in 2017.
Hyprop’s focus
Q
Sustainable income growth through contractual rental escalations
Q
To improve the shopping centre portfolio through reinvestment,
with continuous extensions and refurbishments
Q
Sound balance sheet
Q
Specialised and experienced internal management.
4
Hyprop Investments Limited
Integrated Report 2015