Industrial Portfolio


We made outstanding progress on our objective to extract value from the industrial portfolio through development and redevelopment. This is undoubtedly a major achievement.

Key performance areas.

Gross property revenue (R' million)1,00294359
Property expenses (R' million)-216-20610
Net property income (R' million)78673749
Property expense ratio (%)21.621.849
Vacancies (%)33.4-0.2
Arrears (R' million)5.86.9-1.1
Bad debt provision (R' million)2.62.8-0.2
Average gross rental (R per m2/month)38362
Budgeted forward yield (%)10.511-0.5
Average in-force escalation (%)8.18.7-0.6
Asset value (R 'billion)87.30.7
Number of properties2302264
Weighted average lease period (years)3.230.2
GLA (m2)2,176,8872,219,781-42,894
Value (excluding bulk) per m2 (R)3,6183,222396
Capital expenditure (R' million)275359-8.4

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