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Hyprop Investments Limited
Integrated annual report 2016
Geographical spread
Hyprop’s portfolio is dominated by retail property in middle to
high-income metropolitan areas, reinforcing its pro le as a specialist
shopping centre REIT. Post year-end, the number of retail properties
decreased to 10, following the disposal of Somerset Value Mart.
Geographic and sectoral spread
30 June 2016
30 June 2015
Rentable
area
m
2
Revenue
R000
Rentable
area
m
2
Revenue
R000
Gauteng
439 932 1 554 918
438 405
1 491 825
Western Cape
346 824 1 189 775
341 667
1 125 317
Total
786 756 2 744 693
780 072
2 617 142
Retail
752 625 2 667 615
745 686
2 544 016
Offices
#
34 131
77 078
34 386
73 126
Total
786 756 2 744 693
780 072
2 617 142
#
Standalone offices
Tenant profile*
Tenants in our portfolio are categorised by grade, although these
categorisations are largely subjective given the strong retail nature
of the Hyprop portfolio:
•
•
A grade:
Large national tenants, large listed tenants and major
franchisees (including all national retailers and tenants in large listed
groups)
•
•
B grade:
Smaller national and listed tenants, medium-sized
franchisees, medium to large retailers
•
•
C grade:
Smaller line stores (906 tenants)
Tenant profile
% of rentable
area
% of
income
A grade
67
52
B grade
22
29
C grade
11
19
* Co-owned shopping centres included at 100%
Top 10 tenants by rentable area
Rank
Tenant
% of total rentable area
1
Edcon Group
9,0
2
Woolworths
7,0
3
Massmart Group
6,8
4
Pick n Pay Limited
6,6
5
Foschini Group
4,1
6
Mr Price Group
3,6
7
Steinhoff Group
3,2
8
Nu Metro
2,3
9
Truworths Limited
2,2
10
Shoprite Holdings
2,1
Top 10 tenants by income
Rank
Tenant
% of total income
1
Edcon Group
6,7
2
Foschini Group
5,0
3
Massmart Group
3,6
4
Mr Price Group
3,4
5
Steinhoff Group
3,2
6
Truworths Limited
2,4
7
Pick n Pay Limited
2,3
8
Woolworths
2,2
9
Clicks Group Limited
1,7
10
Famous Brands
1,6
Weighted average rental per m
2
per month
Business segment
2016
average rental
R/m
2
2015
average rental
R/m
2
Growth
%
Shopping centres
Hyde Park Corner
376
373
0,9
Canal Walk
312
291
7,4
The Glen
259
242
7,1
Clearwater Mall
237
220
7,8
Somerset Mall
230
209
9,8
Rosebank Mall
219
194
12,9
Woodlands Boulevard
189
179
5,5
CapeGate
167
152
9,5
Value centres
Atterbury Value Mart
168
159
6,1
Somerset Value Mart***
139
121
15,0
Willowbridge**
128
118
8,7
Average – total South African portfolio
225
209
7,6
Shopping centres
250
231
7,9
Value centres
149
138
7,8
Offices
123
120
2,8
** Held-for-sale
*** Sold post year-end