Manufactured resources

Top 10 featured buildings by value

1. Mall of Africa
Waterfall City
Retail
  • Mall of africa
  • Total primary GLA:
    124 713 m2
    Valuation:
    R5.4 billion
  • Our share of valuation (80.0%):
    R4.3 billion
    Value per m2:
    R42 899
  • Anchor tenants:
    • Checkers Hyper
    • Edgars
    • Game
    • Woolworths

2. Lynnwood Bridge Precinct, including Glenfair Boulevard
Pretoria
Retail, office and hotel
  • Lynwood bridge
  • Total primary GLA:
    81 992 m2
    Valuation:
    R2.8 billion
  • Our share of valuation:
    R2.8 billion
    Value per m2:
    R33 666
  • Anchor tenants:
    • Adams & Adams
    • Aurecon
    • City Lodge
    • Woolworths

3. Garden Route Mall
George
Retail
  • Garden route
  • Total primary GLA:
    53 813 m2
    Valuation:
    R1.4 billion
  • Our share of valuation:
    R1.4 billion
    Value per m2:
    R25 236
  • Anchor tenants:
    • Dis-Chem
    • Edgars
    • Game
    • Pick n Pay
    • Woolworths

4. MooiRivier Mall
Potchefstroom
Retail and office
  • Mooi river mall
  • Total primary GLA:
    49 696 m2
    Valuation:
    R1.1 billion
  • Our share of valuation:
    R1.1 billion
    Value per m2:
    R22 950
  • Anchor tenants:
    • Checkers
    • Edgars
    • Game
    • Woolworths

5. Cell C Campus
Waterfall
Office and industrial
  • cell c
  • Total primary GLA:
    43 890 m2
    Valuation:
    R974.3 million
  • Our share of valuation:
    R974.3 million
    Value per m2:
    R22 199
  • Anchor tenant:
    • Cell C

6. Eikestad Precinct
Stellebosch
Retail and office
  • Eikestad mall
  • Total primary GLA:
    47 340 m2
    Valuation:
    R1.1 billion
  • Our share of valuation (80.0%):
    R874.4 million
    Value per m2:
    R23 088
  • Anchor tenants:
    • Checkers
    • Game
    • Food Lover's Market
    • Woolworths

7. Newtown Precinct
Johannesburg
Retail, office and hotel
  • New town junction
  • Total primary GLA:
    79 526 m2
    Valuation:
    R1.5 billion
  • Our share of valuation (50.0%):
    R750.3 million
    Value per m2:
    R18 842
  • Anchor tenants:
    • City Lodge
    • Nedbank
    • Pick n Pay
    • Shoprite

8. Brooklyn Mall
Pretoria
Retail
  • Brokklyn mall
  • Total primary GLA:
    74 624 m2
    Valuation:
    R3.0 billion
  • Our share of valuation (25.0%):
    R749.3 million
    Value per m2:
    R40 163
  • Anchor tenants:
    • Checkers
    • Dis-Chem
    • Game
    • Woolworths

9. Group Five
Waterfall City
Office
  • Groupfive
  • Total primary GLA:
    28 261 m2
    Valuation:
    R662.7 million
  • Our share of valuation:
    R662.7 million
    Value per m2:
    R23 449
  • Anchor tenant:
    • Group Five

10. Allandale building
Waterfall City
Office
  • Allandale building
  • Total primary GLA:
    15 359 m2
    Valuation:
    R431.5 million
  • Our share of valuation:
    R431.5 million
    Value per m2:
    R28 093
  • Anchor tenants:
    • WiseTech
    • Trans-Africa Projects
    • Cummins

AT A GLANCE

Gateway west waterfall city

Introduction
Manufactured resources are allocated across four key value drivers, being:

  • South African portfolio;
  • A strategic investment in MAS;
  • Waterfall development portfolio; and
  • Rest of Africa retail investments.

Performance highlights

South African portfolio

South africa portfolio

Strategic investment in MAS

  • MAS has become Attacq’s primary entry point to Europe.

Waterfall development portfolio

  KPIs       Target 2017 Results Achieved       Target 2018 – 2020
  Incremental roll out per annum of Waterfall developable bulk       50 000 m2 per annum 70 914 m2 YES       70 000 m2
per annum
  Development surplus       R100.0 million per annum R127.6 million YES       R100.0 million
per annum

  • The internalised development team signed their first significant tenant, the BMW Group South Africa for the construction of a regional distribution centre.
  • Assembling the development team, comprising highly competent employees.
  • We completed four developments.

Rest of Africa retail investments

  • Completion of Kumasi City Mall, Ghana.

OUR “LOOKING AHEAD 2017” AND PROGRESS MADE

Progress we have made

  Our 2017 focus     Achieved       More information
 

South African portfolio

             
  Key property fundamentals: keeping vacancies low, timeous renewal of leases, efficient debt management and cost control.     YES      
icon Summarised highlights, page 58.
  Improving the shopping experience of our visitors through innovative projects.     YES      
icon See intellectual resources, page 101.
               
icon See trading densities, page 62.
  Exploring opportunities to expand our portfolio.     YES      
icon Retail portfolio, page 61.
  Ensuring the Mall of Africa continues to trade above expectation while trading densities keep growing.     YES      
icon Case study on Mall of Africa, page 66.
 

Waterfall development portfolio

             
  Completing the existing developments and newly secured developments.     YES      
icon For completed developments, page 74.
               
icon For an update on developments under construction,  page 74.
  Forming further business alliances and strengthening existing relationships.     YES      
icon See section on developments in the pipeline, page 75.
  Developing our Waterfall bulk, including Waterfall City, and Waterfall Logistics Hub, leveraging the completion of Mall of Africa as a catalyst for future developments.     YES      
icon For update on developments under construction, page 74.
icon Also see developments in the pipeline, page 75.
                 
 

International investments

             
  Rest of Africa: optimising the existing portfolio in terms of debt and tenancies.     NO      
icon See rest of Africa retail investments, page 76.
  Serbia: deploying development capital into identified projects.     Change in strategy      
icon See capital recycled, page 77.
  Cyprus: starting expansion of the Mall of Cyprus and Mall of Engomi.     Change in strategy      
icon See capital recycled, page 77.
  Artisan: taking advantage of favourable opportunities in conjunction with Artisan.     Change in strategy      
icon See capital recycled, page 77.

2018 Looking ahead

South African portfolio

  • Focus on key property fundamentals
  • Innovation as part of technology focus
  • Strengthen and expansion of portfolio
  • Net operating income focus shift

Investment in MAS

  • Targeted 30.0% growth in distributions
  • Expand into central and eastern Europe

Waterfall development portfolio

  • Focused on achieving KPIs set for the development team
  • Delivering high-quality buildings

Rest of Africa retail investments

  • Focus on improving operational performance
  • Refinancing of existing portfolio