CORPORATE OVERVIEW

Key Facts as at 31 March 2016

Key facts

Total property assets

R15.9 billion

   

Listed Portfolio

R1.0 billion

   
  • Atlantic Leaf

R0.6 billion

   

  • Fairvest

R0.4 billion

   

Direct Property Portfolio   Vukile Synergy

  • Valuation

R14.9 billion

R12.4 billion

R2.5 billion


44% of portfolio valued externally, values in line with director’s valuations

     

  • Average value per property

R151 million

R147 million

R175 million


  • Average discount rate

14.2%

14.3%

14.1%


  • Average exit capitalisation rate

9.6%

9.6%

9.5%


  • Number of properties

98

84

14


  •  GLA

1 270 734m²

1 075 786m²

194 948m²


Our vision

Through our proactive management and the sustainable growth of our diversified portfolio Vukile aspires to be a leading property company by providing a top quality experience for our tenants and their customers and in so doing generate superior returns for our stakeholders.

KEY STRATEGIC PILLARS

  • Weight the direct portfolio even more to the defensive retail sector
    • Vukile/Synergy/Arrowhead transaction and Sovereign portfolio sale
    • Retail developments coming on stream
  • Conservative balance sheet management
    • Keep gearing around 30%, maintain hedging at a minimum of 75% and pay down debt through asset sales of non-core properties
    • Synergy/Arrowhead transaction will reduce gearing by c. R976 million
  • International expansion
    • Maintain percentage holding in Atlantic Leaf and evaluate other markets and opportunities in Europe, will also look at other markets.
    • Seeking strong local partners with an existing portfolio/business with good growth prospects and who are looking for capital
  • Residential
    • Still on the agenda but pricing must be right: ±200 bps above cost of capital
  • Strong operational focus to continue