Key Facts as at 30 September 2017

Key facts

Total property assets

R20.4 billion

Listed Portfolio

R1.0 billion

  • Atlantic Leaf

R1.3 billion

  • Fairvest

R521 million

  • Gemgrow

R837 million

Spanish portfolio  

  • Castellana

R3.6 billion

Direct Property Portfolio  

  • Valuation

R14.2 billion

  • Average value per property

R272 million

  • Average discount rate


  • Average exit capitalisation rate


  • Number of retail properties


  • Total GLA

821 614m²

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.

Southern Africa

  • Continued focus on defensive retail sector in line with our high-quality low risk portfolio
  • Further investment in our existing portfolio through expansions and upgrades
  • Ongoing investment in our systems and team to add value through our data-driven asset management approach Strong operational focus to keep delivering solid results
  • Limited local acquisition prospects at the right price


  • Creating a holistic property strategy and operating on the ground with local market knowledge
  • Management team now on board Integration plan well on track and establishing our corporate and governance structures
  • Predominately focused on retail but will be open to long lease logistics
  • Experiencing good deal flow Listing of Castellana on Madrid Stock Exchange by July 2018

United Kingdom

  • Atlantic Leaf is our vehicle for growth in the UK
  • Triggered minority offer and currently hold c. 35% of the equity
  • Continue to invest in logistics, warehousing and distribution centres
  • Requested Atlantic Leaf management to start evaluating retail parks with long leases and good covenants
  • Plan to convert to a UK REIT

Balance Sheet Management

  • Disciplined and conservative financial management with stable LTV target around 35%
  • Prudent interest rate policy to hedge at least 75% of debt
  • Foreign exchange hedging policy to minimise adverse foreign exchange fluctuations by hedging forward on average 75% of foreign dividends by way of forward currency swaps over a 3 year period