Retail Portfolio

overview

Our Retail portfolio comprises 47 properties in South Africa and one in Namibia, is valued at at R12,18 billion and has a GLA of 945 782m2 (as at 31 December 2011). Of the overall Growthpoint portfolio (including Australia and the V&A Waterfront), it makes up 24% by value and 18% by GLA. It is tenanted mostly by listed retailers and national retailers. Comprising neighbourhood, community, value and regional shopping centres, the portfolio features premier shopping centres in South Africa’s major urban areas. Exposure is mostly to regional shopping centres.

The table below gives a cross sectional view of the retail portfolio as at 31 December 2011.

Retail Sub ClassNumber of propertiesGLA m²Value RmValue /m² (excl. bulk)
Regional Shopping Centres12506,7717,658.8015
Community Shopping Centres13297,5473,455.2011,613
Neighbourhood Shopping Centres18123,448910.30732
Retail Warehouses13,91411.64297
Speciality Centres213,543135.4010
Total Retail48945,78212,879.001,287
Other5609.60
The geographical analysis of the retail portfolio by value and GLA is depicted below.
As the lease expiry profile as at 30 June 2009 shows, close to 50% of existing leases expired after 3years. The expiry profile gives Growthpoint the security of long term tenancy while also providing the opportunity to benefit from the short term expires.