Vukile Property Fund Limited
 
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  • EVENTS CALENDAR 2020

    • July 2020

      Financial report and notice of AGM posted by

    • August 2020

      AGM

       

       

    • 30 September 2020

      Interim results year end

       

       

    • 31 March 2021

      Financial year end

       

       

    • Vukile implement lockdown measures at the Vukile office

      In line with the lockdown measures implemented by National Government, Vukile will be in lockdown until further communication is provided by National Government. Should you need to contact Vukile, herewith the contact details for the various business units:

    • Vukile Property Fund changes dividend policy due to Covid-19
      • The group is waiting for consultations with the JSE before deciding on a final dividend, and does not expect to declare an interim dividend in 2021

        Vukile Property Fund, which owns malls in SA and Spain, said on Tuesday it is unlikely to make an interim dividend payment in its 2021 year, and has changed its dividend policy to preserve cash amid the Covid-19 pandemic.

        The group is waiting for consultations with the JSE before deciding on a final dividend for the year to end-March, when distributable earnings per share rose 3.2% to 187.25c.

        Vukile also intends to adopt a variable dividend payout ratio and will no longer pay out 100% of distributable earnings to enable greater capital flexibility and cash retention.  Click here to view the article


    • CORPORATE ANNOUNCEMENT BY: VUKILE PROPERTY FUND LIMITED
      • Shareholders are referred to the announcement published on SENS on 22 May 2020 by Atlantic Leaf Properties Limited ("Atlantic Leaf") (the "FIA") advising that Atlantic Leaf has entered into an implementation agreement with South Downs Investment LP (the "Offeror") and agreed the terms of a recommended cash acquisition (the "Acquisition") pursuant to which, subject to the fulfilment of Acquisition conditions being fulfilled, the Offeror will acquire all the issued shares in Atlantic Leaf ("Atlantic Leaf Shares") for a cash consideration of 80.5 pence per Atlantic Leaf share and thereafter the Atlantic Leaf Shares will be delisted from the stock exchanges operated by the JSE Limited ("JSE") and the Stock Exchange of Mauritius Ltd ("SEM") (the "Atlantic Leaf Transaction"). It is proposed that the Atlantic Leaf Transaction will be implemented by way of a scheme of arrangement under the Companies (Law) Jersey, 1991 (the "Scheme").  Click here to view the article
    • Solid operating performance and strong capital market support in Southern Africa

      Significant presence in Spain

      Investment properties increased to €916 million from €308 million following the acquisition of five dominant shopping centres

      • Positive benefits of diversification with a solid pipeline of opportunities
      • Value-add asset management from Castellana
      • All retail parks acquired in June 2017 now fully let
      • Like-for-like growth in gross rental income of 3.5%
      • Reversions and new lettings at 11% above expiring rentals
      • Successful redevelopment of Kinepolis Leisure Centre at a yield of 11%


  • Portfolio

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

    El Faro is the largest shopping and leisure centre of the province of Extremadura. Situated in Badajoz, the nearest city to the Portuguese border, has a GLA of 66,300 sqm of which 43.423 sqm owned by Castellana Properties. With 2,840 free parking spaces and more than 110 stores, the shopping center is the commercial reference of all Extremadura, along with an influence area of 517,491 citizens.

    Among its 110 stores there are international brands such as Primark (the only store in the entire province), Inditex Group, Media Markt, Hipercor, El Corte Inglés Outlet or Bricor that, together with its wide range of restaurants, have made El Faro a commercial icon in the southwest of Spain.

    El Faro is deeply involved with the community, through different agreements with local authorities. Likewise, the Spanish Association for Standardization and Certification (AENOR) has granted EL FARO with the Universal Accessibility Certification (UNE 170001-2:2007) for being a commercial centre globally accessible and without architectural barriers.

    Value # €159m (8.8% of direct property portfolio)
    Region Extremadura
    Gross Lettable area 43 593m2
    Monthly Rental * €19/m2
    National Tenant exposure 97%
    Vacancy 3.2%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • East Rand Mall

  • Top 15 Retail Centres: Bahía Sur (Spain)
    Shopping Centre

    Bahía Sur is located in the city of San Fernando (Cádiz) in a unique natural environment with views to the Bay of Cadiz. Is located next to the train station that connects to the city centre, and the main Sport City of the county.

    The shopping centre has an influence area of 674,250 citizens, and it offers a modern concept of retail in which shopping, leisure and natural spaces merge to create a unique experience.

    With more than 80 stores distributed in a floor with renovated spaces, Bahía sur is the leading shopping centre within its influence area which includes the city of Cadiz, Puerto Real and San Fernando. Fashion, beauty, sports, home or supermarket are present in their 59,300 sqm (of which 24,789 sqm are owned by Castellana Properties) of commercial areas with national and international brands like Carrefour, El Corte Inglés or Zara. Restaurant offering in Bahía Sur includes American, Asian, Mexican, Italian or Mediterranean cuisine with different restaurants and cafés.

    The shopping centre has straightforward proposal: offer the visitor a new model of purchase in a unique space where is possible to enjoy a privileged environment with lovely sunsets every day, free loan of binoculars or ride bicycles through its Natural Park as well as take part in different entertainment activities all year long.

    Value # €141m (7.8% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 36 433m2
    Monthly Rental * €31/m2
    National Tenant exposure 91%
    Vacancy 3.0%

    # % of total portfolio in brackets
    * 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 gross lettable area of 43,400 sqm, of which 17,906 sqm are owned by Castellana Properties. Divided into two floors of shopping galleries, Los Arcos is the largest shopping centre in the city.

    With more than 80 brands, it is an urban reference in retail with the largest and widest commercial mix in the region with key brands such as Hipercor, Zara, Kiabi, C&A, City Cinema Union, Toys R ‘Us, 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 the city and, since 2013 has a completely renovated image and architecture, with wide and bright corridors for a better customer experience.

    Los Arcos believes that business growth and environmental sustainability are interrelated, and they constitute a strategic thrust. Therefore, the shopping centre is committed to supportive and sustainable initiatives like supporting the local economy, 100% LED lighting in its facilities or photovoltaic panels for electric self-consumption, among others.

    Value # €133m (7.4% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 29 696m2
    Monthly Rental * €31/m2
    National Tenant exposure 95%
    Vacancy 1.2%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Los Arcos

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

    The shopping centre is located in Pulianas, a town that surrounds the city of Granada, considered strategic because it has easy access from the highways A44 y A92, as well as the N432 and A4006 roads.

    The shopping centre is located in Pulianas, a town that surrounds the city of Granada, considered strategic because it has easy access from the highways A44 y A92, as well as the N432 and A4006 roads. The shopping center has 77 units, and a GLA of more than 104,000 sqm, of which 54,367 are owned by Castellana Properties. Granaíta is the result of the integration of Kinepolis Park and the Alameda Shopping Center, and after an investment of 5,5 million euro, it was reopened in March 2019 with a renovated image, 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. Moreover, due to its great location and accessibility the influence area includes cities of the western side of Granada, and the near province of Jaen. Some of the main tenants are renowned brands like Mercadona, Carrefour, Burger King, Kinepolis, Decathlon, Maison du Monde, Aki, Kiwoko o Muerde La Pasta among others.

    Value # €111m (6.2% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 54 571m2
    Monthly Rental * €10/m2
    National Tenant exposure 87%
    Vacancy 1.3%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Granaita

  • Top 15 Retail Centres: Vallsur (Spain)

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

    With 36,000 sqm (of which 35.211 sqm owned by Castellana Properties) the park was increased in 3,000 sqm 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 more than 90 units that create a compelling offer from fashion, shoes, accessories and restaurants, with brands like Inditex, H&M, Forum Sport, Foster´s Hollywood or KFC among others. In 2018, Yelmo Cines inaugurated 8 movie theatres and became the second Premium cinemas in Spain.

    Vallsur has 1,705 parking spaces. Since its inauguration, the shopping centre has a clear commitment to the environment. For this purpose, it has implemented an Environmental Management System in accordance with the international standard ISO 14001:2004.

    Value # €91m (5.1% of direct property portfolio)
    Region Castilla Leon
    Gross Lettable area 35 212m2
    Monthly Rental * €15/m2
    National Tenant exposure 97%
    Vacancy 3.9%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Vallsur

  • Top 15 Retail Centres: Habaneras (Spain)

    The shopping center is located in Torrevieja, province of Alicante. It has an influence area of 531,670 citizens, in addition to 178,440 of floating population.

    This modern shopping centre was built in 2005 with a GLA of 24,158 sqm. It has 65 stores distributed in 3 floors. Two floors at ground level, and another floor underground that combines shopping stores and parking.

    The parking area has 850 free parking spots, 700 underground and 100 at ground level with direct access from the street. The main brands of the shopping centre are Zara, Bershka, Stradivarius, C&A, Forum, and Aki Bricolaje, among others.

    Value # €89m (5% of direct property portfolio)
    Region Com. Valenciana
    Gross Lettable area 24 166m2
    Monthly Rental * €19/m2
    National Tenant exposure 97%
    Vacancy 1.0%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Habaneras (Spain)

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

    'OR Tambo International Airport is a key gateway in the area, and as such has a very well-supported road and transport system. Convenient access from major highways and ample parking make shopping a pleasure. The centre forms part of South Africa’s largest Pick n Pay Hypermarket, and with its well-planned tenant combination, includes all major chain stores and a host of smaller, specialised stores.

    Value # R1 358m (Vukile 50% holding; 3.8% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 68 372m2
    Monthly Rental * R283/m2
    National Tenant exposure 94%
    Vacancy 2.2%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • East Rand Mall

  • Top 15 Retail Centres: Puerta Europa (Spain)

    Value # €63m (3.5% of direct property portfolio)
    Region Andalucia
    Gross Lettable area 29 732m2
    Monthly Rental * €14/m2
    National Tenant exposure 93%
    Vacancy 3.1%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Puerta Europa (Spain)

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

    'Pine Crest Centre was established in 1988 and has served shoppers from the business, industrial and community sectors for over 30 years. The primary catchment area for Pine Crest Centre 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, cellular, food and fashion make it the most dominant centre in Pinetown.

    The centre is highly visible and a convenient one-stop retail destination with ample parking.

    Value # R1 108m (3.1% of direct property portfolio)
    Region KwaZulu-Natal
    Gross Lettable area 43 354m2
    Monthly Rental * R189/m2
    National Tenant exposure 88%
    Vacancy 2.0%

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Pinetown Pine Crest

  • Top 15 Retail Centres: Parque Oeste (Spain)

    Value # €50m (2.8% of direct property portfolio)
    Region Madrid
    Gross Lettable area 13 604m2
    Monthly Rental * €16/m2
    National Tenant exposure 100%
    Vacancy Fully let

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Parque Oeste (Spain)

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

    'Phoenix Plaza was built in 1993 and is situated north of Durban in the beautiful diverse province of KwaZulu-Natal. 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 upgrade has been completed and shoppers now enjoy shopping in a mall with high-quality finishes and a fresh modern look.

    Value # R 889m (2.5% of direct property portfolio)
    Region KwaZulu-Natal
    Gross Lettable area 24 231m2
    Monthly Rental * R283/m2
    National Tenant exposure 77%
    Vacancy 2.8%

    # % of total portfolio in brackets
    * 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 upgraded Maluti Crescent is at the heart of all this, with a strong retail mix.

    Value # R 714m (2% of direct property portfolio)
    Region Free State
    Gross Lettable area 35 725m2
    Monthly Rental * R155/m2
    National Tenant exposure 93%
    Vacancy Fully let

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Phuthaditjhaba Maluti Crescent (RSA)

  • Top 15 Retail Centres: Parque Principado (Spain)

    The retail park is located in the town of Sieros in Asturias next to the shopping center Intu Asturias, the largest shopping center of the region, with a huge influence area due to its location.

    Situated at 10 minutes from Oviedo, the park has an influence area of 860,000 citizens. It was inaugurated in 2003 and has a GLA of 16,246 sqm, owned entirely by Castellana Properties, it has 6 units and 425 outdoor parking spots. Some of the main tenants are Bricomart, Conforama, Intersport, Burger King, and Kiwoko.

    Value # €33m (1.8% of direct property portfolio)
    Region Asturias
    Gross Lettable area 16 246m2
    Monthly Rental * €10/m2
    National Tenant exposure 100%
    Vacancy Fully Let

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Rangburg Square

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

    'Dobsonville Mall was the first shopping centre in Soweto, and started trading in 1994, with Shoprite as anchor tenant. The centre brought much needed services and is well accepted by the community. With 73 stores and a taxi rank for easy access, the centre has retained its significant association with the community.

    Following the redevelopment and extension of the centre, it is now suitably geared to fully service the next generation of shoppers in the north-west of Soweto.

    Value # R 565m (1.6% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 26 438m2
    Monthly Rental * R153/m2
    National Tenant exposure 92%
    Vacancy Fully let

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Soweto

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

    'Anchored by the massive 12 261m² Pick n Pay Hypermarket introducing the new Evolution concept with offerings from a bakery, butchery, deli and liquor to groceries, clothing, furniture and a pharmacy with a clinic, all under one roof; Kolonnade Retail Park opened opposite Kolonnade Shopping Centre on 29 November 2006.

    Positive support was enjoyed since day one and a mere five years later in 2011 Kolonnade Retail Park expanded with a second development anchored by the Virgin Active Health Club and currently this vibrant little strip mall hosts a variety of lifestyle tenants ranging from sport and health to furniture and décor. This spread is supplemented with services and speciality stores to selected eateries.

    Known for community involvement and continuously sharing our platform with the community, the SACSC awarded Kolonnade Retail Park four times for Community Relations in 2010, 2012, 2016 and 2018.

    Value # R 564m (1.6% of direct property portfolio)
    Region Gauteng
    Gross Lettable area 39 665m2
    Monthly Rental * R116/m2
    National Tenant exposure 89%
    Vacancy Fully Let

    # % of total portfolio in brackets
    * Average base rental excluding recoveries

  • Kolonnade
El Faro (Spain) Bahía Sur (Spain) Los Arcos (Spain) Granaita Retail Park (Spain) Vallsur (Spain) Habaneras (Spain) Boksburg East Rand Mall (RSA) Puerta Europa (Spain) Pinetown Pine Crest (RSA) Parque Oeste (Spain) Durban Phoenix Plaza (RSA) Phuthaditjhaba Maluti Crescent (RSA) Parque Principado (Spain) Soweto Dobsonville Mall (RSA) Pretoria Kolonnade Retail Park (RSA)