Statement of financial position

			Unaudited 31 December 2014 R’000			Unaudited 31 December 2013 R’000			Audited 30 June 2014 R’000
Assets
Non-current assets			25 399 492			25 218 389			24 931 191
Investment property			23 270 523			24 539 960			23 998 182
Building appurtenances and tenant installations			70 610			85 849			82 692
Investments in sub-Saharan Africa (excluding South Africa)			2 031 121			579 102			812 459
Shareholder loans			1 929 253			579 102			812 459
Investment in joint ventures			101 868
Investment in associates			736			137			600
Goodwill			4 280			12 059			4 280
Derivative instruments			22 222			1 282			32 978
Current assets			250 339			431 283			228 525
Receivables			86 279			159 653			103 686
Loan receivable			47 146			157 561			47 486
Cash and cash equivalents			116 914			114 069			77 353
Non-current assets held-for-sale			1 737 182			51 982			1 705 236
Investment property			1 737 182						1 705 236
Listed property securities						51 982
Total assets			27 387 013			25 701 654			26 864 952
Equity and liabilities			19 823 075			11 803 062			12 905 543
Share capital and reserves			19 823 075			11 679 616			12 772 306
Non-controlling interest (African Land)						123 446			133 237
Liabilities
Non-current liabilities			5 354 511			11 339 596			10 992 517
Debentures and debenture premium						5 785 643			5 719 119
Interest-bearing liabilities			5 248 358			5 479 952			5 185 822
Derivative instruments			60 406			44 110			41 829
Deferred taxation			45 747			29 891			45 747
Current liabilities			2 209 427			2 558 996			2 966 892
Payables			396 483			482 259			367 984
Interest-bearing liabilities			1 812 944			1 514 815			2 013 031
Combined unitholders for distribution						561 922			585 877
Total liabilities			7 563 938			13 898 592			13 959 409
Total equity and liabilities			27 387 013			25 701 654			26 864 952
Net asset value per share (R)			81,49			71,80			76,02