Vukile Property Fund Limited
 
    • Vukile reports strong financial results and an appetite for growth
      • Vukile’s excellent set of results reflects a business in a powerful position operationally and financially with a sound base for future growth and a healthy pipeline of opportunities.

        Laurence Rapp, CEO of Vukile Property Fund, comments, “We’re very upbeat with the performance Vukile has delivered in the past year.

        We produced strong results from our South African portfolio and even better performance in Spain. Property valuations have started to rise in both countries, which shows the excellent quality of the cash flows emanating from the assets. Click here to view the article

    • Vukile jumps almost 7% as it reports strong trading | Fin24 (news24.com)
      • Vukile Property Fund, which owns shopping centres in South Africa and Spain, is seeing "strong trading" in both countries, with retail sales and footfall back at pre-pandemic levels.

        "We are seeing good demand and competition from retailers to expand in our portfolios," the company said in its annual results.

        The group owns properties worth almost R31 billion. Roughly half of the portfolio is held via its Madrid-listed subsidiary, Castellan, with the rest in South Africa. Locally, it owns centres like Mdantsane City and Gugulethu Square. Click here to view the article

    • Vukile upbeat as its SA retail vacancies are at a record low (businesslive.co.za)
      • The group says its strategy of seeking nodally dominant retail assets is paying off, and SA retail vacancies are at their lowest since it listed in 2004

        Vukile Property Fund, which owns malls in SA and Spain, says it is encouraged by a recovery of retail sales and footfall to pre-pandemic levels, with the group upping its 2022 payout just more than 6% to about R1bn.

        Property revenue rose 16.3% to R2.6bn in the group’s year to end-March, with Vukile reporting on Thursday that vacancies in SA were trending downwards and are the lowest they have been since the group listed in 2004. Click here to view the article
    • Vukile’s exposure to “sweet spot” township and rural assets boosts its performance – Property Wheel
      • Vukile Property Fund has increased its earnings (Funds from Operations or ‘FFO’) by 9.5% for the financial year ended March 2022, declaring a total dividend of 105.8 cents per share and retaining R308 million to fund growth.

        “We are very upbeat with the performance Vukile has delivered in the past year”, commented Laurence Rapp, CEO of Vukile Property Fund. “We produced strong results from our South African portfolio and an even better performance in Spain. Property valuations have started to rise in both countries, Click here to view the article


  • Portfolio
  • Top 15 Retail Centre's: El Faro (Spain)

    'El Faro is the largest shopping and leisure centre of the region of Extremadura. Situated in Badajoz, the nearest city to the Portuguese border, has a total area of 66,422m² of which 40,318m² are owned by Castellana Properties. With 2,639 free parking spaces and more than 100 stores, the shopping center is the commercial reference in the Extremadura Region, with a catchment area of c. 520K inhabitants.

    Among its 106 stores there are international brands such as Primark (the only store in the entire Region), Inditex Group, Media Markt, Hipercor or El Corte Inglés Outlet that, together with its wide range of restaurants, have made El Faro a commercial icon in the west of Spain and Portugal (Alentejo).

    The shopping center has excelled the leisure experience with 'El Patio' with 1 million visits since the inauguration. This new area has a nomination in the 2022 national competition for best big renovation with investment of 5M. Customers can find a Yelmo Premium Cinema and a wide range of international restaurants like Burger King, Foster's Hollywood or Ginos among others.

    Value €172m(9.1% of direct property portfolio)
    Region Extremadura
    Gross Lettable area 40 318m²
    Monthly Rental * €20/m²
    National Tenant exposure 96%
    Vacancy 1.1%

    * Average base rental excluding recoveries

  • East Rand Mall
  • Top 15 Retail Centres: Bahía Sur (Spain)

    Bahía Sur is located in the city of San Fernando (Cádiz) in a unique natural environment with views to the Bay of Cadiz. It is very well connected to the city centre of Cadiz located next to the train station and the main sports resort of the county. The shopping centre has a catchment area of c. 675K inhabitants, and it offers a modern concept of retail in which shopping, leisure and natural spaces merge to create a unique place and experience.

    Fashion, beauty, sports, home or hypermarket are present in over 86 stores and 56,666m² (of which 35,333m² are owned by Castellana Properties) with national and international brands like Zara, Mango or JD Sports. Primark and other brands like Lefties, Kiwoko or Espaço Casa arrived recently, along with a new Premium Yelmo Cinemas with the latest technology in a space of 3,000m². Restaurant offering in Bahía Sur includes American, Asian, Mexican, Italian or Mediterranean cuisine with different restaurants and coffee shops.

    The transformation project was successfully completed in January 2022, covering different areas from toilets to an overall interior design restyling. This project has a nomination in the 2022 national competition for best small renovation.

    Value €147m (7.8% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 35 333m²
    Monthly Rental * €23/m²
    National Exposure 96%
    Vacancy 0.8%

    * Average base rental excluding recoveries

  • Bahia Sur
  • Top 15 Retail Centres: Los Arcos (Spain)

    Los Arcos, located in one of the most important areas of Seville, has a total area of 35,634m², of which 26,680m² are owned by Castellana Properties. Divided into two floors of shopping galleries, Los Arcos is one of the largest shopping centres in the city. With more than 75 brands, it is an urban reference in retail with one of the largest and widest commercial mix in the region with key brands such as Pull&Bear, Kiabi, C&A, City Cinema Union, Lefties, Deichmann, Primor, Bershka, Mcdonald’s or Foster’s Hollywood, among others. It also has a free underground parking with 1,800 parking spaces.

    Opened in 1992 along with the Universal Exhibition, it was the first Shopping Centre in Seville and, since 2013 has a completely renovated image and architecture, with wide and bright corridors for a better customer experience. After the purchase of the Hypermarket surface by Castellana Properties in 2019, the Shopping Centre has improved the commercial mix on the ground floor with international and national brands like Mercadona, Media Markt, and Espaço Casa as key anchors.

    The upcoming refurbishment project involves the office building adjacent to Los Arcos shopping centre, which comprises over 4,600m² GLA and is arranged over four floors. The building will be transformed to increase the leisure and food offering of Los Arcos, that will further cement its leading position in the city of Seville.

    Value €137m (7.2% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 26 680m²
    Monthly Rental * €24/m²
    National Tenant exposure 98%
    Vacancy 6.5%

    * Average base rental excluding recoveries

  • Los Arcos
  • Top 15 Retail Centres: Granaita (Spain)

    Granaíta is located in Pulianas, a suburbian town that surrounds the northern part of the city of Granada. This location is considered strategic because it has easy access from the highways A44 y A92 that connects Madrid and Seville respectively, as well as the N432 road connecting with Cordoba and Badajoz.

    The retail park is embraced in a larger retail hub of more than 80,000m² GLA forming the largest of the region. Granaíta Retail Park, with a total area of 83,490m² of which 54,807m² are owned by Castellana Properties, is the result of the integration of Kinepolis Park and the Alameda Shopping Center. After an investment of 5,5M euros, it was reopened in March 2019 with a renovated image, under a unique brand and a modern and innovative design.

    Granaita has become the new hub to respond the demand of entertainment, fashion and leisure for youth and families of Granada and its metropolitan areas, and Castellana Properties plans to invest further in the union of both commercial areas with more green and sport areas. Due to its great location and accessibility the influence area includes cities of the western side of Granada and the near province of Jaen.

    Value €107m (5.7% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 54 807m²
    Monthly Rental * €11/m²
    National Tenant exposure 90%
    Vacancy 2.2%

    * Average base rental excluding recoveries

  • Granaita
  • Top 15 Retail Centres: Vallsur (Spain)

    Vallsur shopping centre was opened in 1998 and is situated in a residential area that has been continuosly developed since then. Its unbeatable location makes Vallsur the place chosen by thousands of citizens to shopping throughout the year.

    With 35,770m² (of which 35,212m² are owned by Castellana Properties) and 1,870 parking spaces, the shopping centre was extended 3,000m² and was refurbished in 2013. In 2014 received the Best Shopping Center Renovation Award given by the Spanish Association of Shopping Centers (AECC).

    The shopping center has 80 units that create a compelling offer of fashion, shoes, accessories and restaurants, with brands like Zara, H&M, Forum Sport, Foster´s Hollywood, Druni, Xiaomi or KFC among others. In 2018, Yelmo Cines opened in the shopping centre the second Premium cinemas in Spain with 8 top-quality screens.

    Value €83m (4.4% of direct property portfolio)
    Region Castilla Leon
    Gross Lettable area 35 212m²
    Monthly Rental * €15/m2
    National Tenant exposure 97%
    Vacancy 3.9%

    * Average base rental excluding recoveries

  • Vallsur
  • Top 15 Retail Centres: Habaneras (Spain)

    The shopping centre is located in the city of Torrevieja in the Alicante province, halfway between Alicante and Murcia. Its catchment area comprises 530K citizens in a 30-minute drive radius with an added transient population of 178K.

    This modern shopping centre was built in 2005 with a total area of 25,021m². It has around 61 stores distributed in 3 floors. Two floors above ground level, and another floor underground that combines shopping stores and parking. Habaneras is a centre of open-air Mediterranean architecture, where you can stroll peacefully and enjoy the pleasant temperatures of southeastern Spain. The shopping centre sits within a retail park alongside complementary superstores like Carrefour, Lidl, Mercadona, and other attractions such as a bowling and an eight-screen IMF cinema. The parking area has 789 free parking spots, 698 underground and 91 at ground level with direct access from the street. Fashion retailers, including market leaders like the Inditex Group, are particularly well represented . Amongst the anchor brands are Dealz (577m²), Forum Sport (2,000m²), Zara (1,895m²), H&M (1,407m²), and the refurbished store of Leroy Merlin (4,940m²).

    Habaneras is also fully committed with the sustainability of its facilities, which is evidenced by the BREEAM quality certification. The shopping centre has a strict policy to save and increase the efficiency of energy consumption, as well as the production of renewable energy in the building.

    Value €86m (4.6% of direct property portfolio)
    Region Com. Valenciana
    Gross Lettable area 25 021m²
    Monthly Rental * €19/m²
    National Tenant exposure 97%
    Vacancy 1.7%

    * Average base rental excluding recoveries

  • Habaneras (Spain)
  • Top 15 Retail Centres: Pinetown Pine Crest (RSA)

    'Pine Crest Centre has served the community of Pinetown for more than 30 years. It is the town’s original shopping centre and remains its biggest retail centre. Its primary catchment area stretches from Kwadabeka in the north to Kwadengezi in the south, and from Cowies Hill in the east to Kloof in the west.

    The recently upgraded centre’s strong tenancy in financial services, homeware, furniture, food, health and beauty and fashion make it the most dominant centre in Pinetown. The food court offers a variety of well-known National brands, entertainment and a kiddies play area.

    Pine Crest is a highly visible, convenient one-stop retail destination with ample parking and a filling station on site.

    Value R1 112m (3.6% of direct property portfolio)
    Region KwaZulu-Natal
    Gross Lettable area 43 338m²
    Monthly Rental * R203/m²
    National Tenant exposure 94%
    Vacancy 3.6%

    * Average base rental excluding recoveries

  • Pinetown Pine Crest
  • Top 15 Retail Centres: Boksburg East Rand Mall (RSA)

    'East Rand Mall, situated a mere 7 km from South Africa’s busiest airport OR Tambo International Airport is positioned just off the R 21 on Bentel Avenue making the Mall the gateway to the greater Boksburg area.

    Since opening its doors to the public in 1992, the Mall has cemented its retail offering to not only Boksburg but likewise attract shoppers from Benoni, Brakpan, Germiston and Kempton Park. The Mall’s well-planned tenant mix includes all of South Africa’s major chain stores and smaller specialised stores, making the Mall a fashion must stop to the greater East Rand.

    East Rand Mall offers a range of entertainment facilities which include a colourful movie experience for the little ones with a kids Cinema section and a 7 Cinema Centre, Galaxy Bingo, restaurants and coffee shops. The Mall was fitted with backup generators in 2018 which allows the Mall to be completely operational during power outages.

    Value R1 108m (Vukile 50% holding; 3.6% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 68 522m²
    Monthly Rental * R261/m²
    National Tenant exposure 93%
    Vacancy 1.5%

    * Average base rental excluding recoveries

  • East Rand Mall
  • Top 15 Retail Centres: Puerta Europa (Spain)

    Puerta Europa, located in Algeciras (Cadiz), is the most important shopping centre of Gibraltar area. It is located next to the A7 highway with easy access at only 15 minutes distance by car from the city’s harbour. It counts with 1,958 free parking spots and is also accesible by foot and public transport.

    The shopping center has a total area of 29,783m² with an occupancy of 99%, counting with important openings that has permitted to land unique brands in the region. It has a catchment area over 311,110 inhabitants, and offers a wide selection of fashion, leisure and restaurants in more than 70 units distributed in two floors.

    The fashion brands cover approximately 54% of the GLA , with top brands like Primark, Zara, Mango, H&M, Lefties and Sprinter, amongst others, followed by Yelmo cinema and the supermarket Mercadona with more than 3,000m² each. It also has a food corner with important brands as Mc Donalds, Foster’s Hollywood or Pomodoro.

    Value €72m (3.8% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 29 783m²
    Monthly Rental * €16/m²
    National Tenant exposure 94%
    Vacancy 0.6%

    * Average base rental excluding recoveries

  • Puerta Europa (Spain)
  • Top 15 Retail Centres: Parque Oeste (Spain)

    The retail park is one of the main commercial areas in Madrid. With 18 units, Castellana Properties owns 13,604m² of 32,698m² total area. Well known brands such as Media Markt, Aldi and Espaço Casa are part of the offer.

    Parque Oeste is embraced in a larger retail hub of more than 125,000m² GLA developed in two phases in 1994 and 1996. At only 10 minutes from the retail park there is a big population close to 750,000 inhabitants, and it reaches more than 5,000,000 citizens in the whole catchment area.

    The retail hub is one of the biggest in the country and is distributed along two main streets where each tenant has its own parking area. Other brands available in the hub include Decathlon, Ikea, Leroy Merlin and Alcampo, among others. Furthermore, there are independent restaurants that complete the offer.

    Value €52m (2.7% of direct property portfolio)
    Region Madrid
    Gross Lettable area 13 604m²
    Monthly Rental * €17/m²
    National Tenant exposure 100%
    Vacancy Fully let

    * Average base rental excluding recoveries

  • Parque Oeste (Spain)
  • Top 15 Retail Centres: Durban Phoenix Plaza (RSA)

    Phoenix Plaza offers a unique shopping experience with a wide variety of eastern, western and specialty stores, presenting itself as a one-stop shopping destination. The centre was recently upgraded with high-quality finishes and a fresh modern look.

    It offers a retail experience that is community centred, variety-filled and convenient, playing an active role within the community.

    Value # R 852m (2.8% of direct property portfolio)
    Region KwaZulu-Natal
    Gross Lettable area 24 072m²
    Monthly Rental * R288/m²
    National Tenant exposure 78%
    Vacancy 0.4%

    * Average base rental excluding recoveries

  • Durban Phoenix Plaza
  • Top 15 Retail Centres: Phuthaditjhaba Maluti Crescent (RSA)

    'Phuthaditjhaba (formerly QwaQwa or Witsieshoek) is located in the foothills of the Maluti mountains of the Drakensberg range. It can be found right off the junction of the R57 and R712, which runs from Harrismith, through Golden Gate Highlands National Park, and onto Clarens. It is a former homeland capital, making it a central gathering place and the headquarters of the region’s district and local municipality, as well as home to many community facilities.

    The recently redeveloped Maluti Crescent has a powerful retail mix and is dominant in its trade area, having been transformed from a strip centre into a partially enclosed mall. It has a strong grocery and convenience tenant mix, supported by a wide variety of retail options. Maluti Crescent offers shoppers excellent accessibility.

    Value # R 839m (2.7% of direct property portfolio)
    Region Free State
    Gross Lettable area 35 741m²
    Monthly Rental * R168/m²
    National Tenant exposure 95%
    Vacancy Fully let

    * Average base rental excluding recoveries

  • Phuthaditjhaba Maluti Crescent (RSA)
  • Top 15 Retail Centres: Pretoria Kolonnade Retail Park (RSA)

    'Kolonnade Retail Park is a dominant retail park that hosts a variety of lifestyle tenants ranging from sport, health, homeware, furniture and décor as well as brand outlet stores.

    It is centrally located in a vibrant retail node anchored by a large Pick n Pay Hypermarket and West Pack Lifestyle. All this complimented by ample parking and a variety of food services.

    Value # R 686m (2.2% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 39 665m²
    Monthly Rental * R131/m²
    National Tenant exposure 96%
    Vacancy Fully let

    * Average base rental excluding recoveries

  • Kolonnade
  • Top 15 Retail Centres: Soweto Dobsonville Mall (RSA)

    'The first shopping centre in Soweto in 1994, Dobsonville Mall has retained its significant association with the community. It offers shopping variety and convenience from 73 stores and has an integrated taxi rank for easy access. Apart from three food anchors and a variety of food services, it offers the convenience of health, fashion, furniture and financial services to shoppers in the north-west of Soweto.

    Value R 640m (2.1% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 26 438m²
    Monthly Rental * R174/m²
    National Tenant exposure 93%
    Vacancy Fully let

    * Average base rental excluding recoveries

  • Soweto
  • Top 15 Retail Centres: Gugulethu Square (RSA)

    'Gugulethu Square Shopping Centre is a quality, modern centre made up of three separate buildings; the north mall with a SuperSpar anchor; the south mall anchored by Cashbuild and a newly built McDonald Drive thru and line shops; the main mall, with a Shoprite anchor and a formal taxi rank. It benefits from a diverse and strong tenant mix.

    Value R 631m (2.1% of direct property portfolio)
    Region Western Cape
    Gross Lettable area 25 699m²
    Monthly Rental * R186/m²
    National Tenant exposure 92%
    Vacancy Fully Let

    * Average base rental excluding recoveries

  • Gugulethu Square