Hyprop Investments Limited Integrated annual report 2017

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44 Hyprop Investments Limited
Integrated annual report and consolidated financial statements2017
Property portfolio – South Africa continued
Tenant profile
Tenants in our portfolio are categorised by grade, although this is largely
subjective given the strong retail nature of our portfolio:
■■A grade: Large national tenants, large listed tenants and major
franchises (including all national retailers and tenants in large listed
groups)
■■B grade: Smaller national and listed tenants, medium-sized franchises,
medium to large retailers
■■C grade: Smaller line stores (862 stores).
Tenant profile
% of
rentable
area
% of
income
A grade 68 53
B grade 21 28
C grade 11 19
Top 10 tenants by rentable area
Rank Tenant % of total rentable area
1 Edcon Group 9,7
2 Woolworths 7,3
3 Massmart Group 7,3
4 Pick n Pay Limited 6,7
5 Foschini Group 4,4
6 Mr Price Group 3,9
7 Steinhoff Group 3,0
8 Shoprite Holdings 2,6
9 Nu Metro 2,5
10 Truworths Group 2,3
Top 10 tenants by income
Rank Tenant % of total income
1 Edcon Group 7,9
2 Foschini Group 6,1
3 Massmart Group 3,9
4 Mr Price Group 3,8
5 Steinhoff Group 2,9
6 Truworths Group 2,9
7 Woolworths 2,8
8 Pick n Pay Limited 2,5
9 Cotton On Group 2,0
10 Clicks Group 1,9
Retail portfolio by category
Total
rentable
area
m2
% of total
rentable area
Department stores 162 496 24
Apparel 120 422 18
Food 70 226 10
Home furnishings/art/antiques/décor 48 687 7
Sporting/outdoor goods and apparel 36 159 5
Food service 35 569 5
Other 198 003 29
Total 671 563 100
Weighted average rental per m2
Business segment
2017
Average
rental
R/m2
2016
Average
rental
R/m2
Shopping centres
Canal Walk (80%) 337 312
Clearwater Mall 252 237
Somerset Mall 254 230
Rosebank Mall 219 219
Woodlands Boulevard 208 189
The Glen (75,15%) 246 259
Hyde Park Corner 411 376
CapeGate 180 167
Value centres
Atterbury Value Mart 181 168
Willowbridge North(1) 128 128
Average – total South African portfolio 242 225
Shopping centres 265 250
Value centres 161 149
Offices 122 123
(1) Sold
Vacancy profile
30 June 2017 30 June 2016
Vacancies
Total area
available
for
leasing
m²
Rentable
area
%
Total area
available
for
leasing
m²
Rentable
area
%
Retail
Canal Walk 42 1 764 1,2
Clearwater Mall 3 652 4,2 449 0,5
The Glen 1 519 2,0 1 618 2,0
Woodlands
Boulevard 2 492 3,5
CapeGate 1 542 2,4 132 0,2
Somerset Mall 41 0,1
Rosebank Mall 2 987 4,8 539 0,9
Hyde Park Corner 570 2,0 148 0,5
Willowbridge 233 0,6
Somerset Value Mart 495 3,9
Atterbury Value
Mart 163 0,3
Retail total 12 846 1,9 5 540 0,8
Offices 4 713 7,9 3 382 4,5
Grand total 17 559 2,4 8 922 1,1