HIGHLIGHTS

  • Sustained performance in tough Southern African trading environment
  • Retail vacancies well contained at 3%
  • Rent collection rate of 95%
  • Footfall at 86% of prior year
  • Like-for-like trading density growth of 1.3%
  • Retail retention rate at 92% with reversions contained at -2%
  • Spanish portfolio holding up very well
  • Vacancies reduced to 1.5%
  • Rent collection rate of 90%
  • Footfall at 84% of prior year
  • Sales at 95% of prior year
  • Completed redevelopment projects with 91% of GLA let
  • Portfolio WALE of 13.9 years
  • Strong balance sheet and well diversified funding base
  • Debt reduced by R1.5 billion
  • LTV reduced to 44.3% (FY20 46.1%)
  • 100% of FY21 maturing debt repaid or extended
  • Undrawn debt facilities increased to R2.3 billion
  • Interest cover ratio (ICR) of 3.7 times
  • Extensive tenant relief provided in Southern Africa and Spain
  • Negotiation and administration of COVID-19 lockdown rental relief programmes complete
    • In Southern Africa, rental relief of R133 million granted to tenants
    • In Spain, rental relief of €15 million granted to tenants
  • Primary focus on the health and wellbeing of our customers, tenants and staff