Retail Portfolio

Growthpoint’s retail portfolio increased to 58 properties with a total GLA of 1 410 461m2, valued at R28,2 billion after the Acucap and Sycom transaction.

Waterfall Mall in Rustenburg continues to lead shopping centres in our country for commercial solar energy harvesting to minimise impacts on the environment and generate clean energy that responds to South Africa’s electricity shortage. Installing a R10 million utility scale solar power plant on the rooftop of the mall has provided it with 876 746kWh hours of clean energy over the past 12 months. This is enough power for 2 884 households (at 304kWh per house) and offsets 868 tonnes of CO2 a year. The continuing electricity load shedding has necessitated accelerating the roll-out of our solar programme at other shopping centres. Solar power plants installed at our centres will be limited to around 1MWp in size, covering 10 000m2 of roof area per centre. The installation of a 1.16MWp at Northgate (50% owned) has been approved at a total cost of R23,3 million and will render a commercially acceptable yield on capital cost. We anticipate installations at Brooklyn Mall, Kolonnade and Constantia Village will be approved this year. Growthpoint plans to introduce similar installations at our 15 major shopping centres over the next two years.


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