Redefine Properties Limited · JSE:RDF
Redefine Properties — Corporate Update (March 2022)
25 slides from Redefine Properties's corporate update, Mar 24, 2022
Slide 1: Investor site visit
Investor site visit PROPERTIES Thursday, 24 March 2022 Areverine [ We're not landlords. We're people.
Slide 2: Our site visits
Our site visits 1. Mall of the South 2. Centurion Lifestyle Centre 3. Centurion Mall 4. S&J Industrial Estate 1 Redefine investor site visit | March 2022
Slide 3: Mall of the South
Mall of the South 2
Slide 4: Mall of the South
Mall of the South Mall of the South opened in September 2015 and is located in Aspen Hills. Its catchment area includes the affluent suburbs in the south of Johannesburg. The mall offers optimal exposure and convenient access from the two main arterial roads, Kliprivier Drive and Swartkoppies Road.
Slide 5: Mall of the South asset facts
Co-owned RMB (80%), RDF (20%) – Managed by Redefine Asset type Regional shopping centre Location Aspen Lakes Ext 12, Johannesburg GLA 72 959m2 Property valuation R1.6 billion Occupancy 97% Number of tenants 158 Checkers Game Anchor tenants Pick ‘n Pay Edgars Woolworths Average monthly footfall 588 0
Slide 6: Turnover performance
Turnover performance R’bn 110% R2,0 R1,8 R1,6 R1,4 R1,2 R1,0 104% R0,8 R0,6 120% R0,4 104% 102% 137% 120% R0,2 114% 112% 109% 98% R0,0 Total Essential Apparel Hard hit Bottle stores Electronics Fast food Furniture Homeware Toys Balance of turnover services category focused & interior business types
Slide 7: Future plans
Future plans § Develop available bulk for a drive-thru and filling station § Improve shopper experience by formalising the taxi rank and relocate into centre § Increase non-GLA income by installing external digital screens § Reduce energy costs and improve electricity margins through the installatio
Slide 8: Centurion Lifestyle Centre
Centurion Lifestyle Centre 7
Slide 9: Centurion Lifestyle Centre
Centurion Lifestyle Centre Centurion Lifestyle Centre is conveniently situated in Centurion, on the corner of Old Johannesburg Road and Lenchen Road. It is surrounded by numerous primary and secondary schools. The centre offers the community a highly accessible shopping hotspot that caters to all sh
Slide 10: Centurion Lifestyle Centre asset facts
Asset type Regional shopping centre Corner of Old Johannesburg Road and Lenchen Ave, Location Tshwane, Gauteng GLA 61 554m2 Property valuation R968 million Occupancy 98% Number of tenants 76 Pick n Pay Hyper Checkers Anchor tenants Builders Warehouse Virgin Active Decathlon Annual turnover R1.1 bill
Slide 11: Turnover performance
Turnover performance R’bn R1,2 107% R1,0 R0,8 R0,6 106% R0,4 123% R0,2 104% 108% 109% 86% 119% 85% 72% 112% R0,0 Total Essential Apparel Hard hit Bottle stores Fast food Furniture Homeware Hardware, Toys Balance of turnover services category focused & interior security & business home types 12 month
Slide 12: Future plans and installed solar PV
Future plans § Continue to improve tenant mix for convenience § Store upgrades to be carried out on renewals § Carry out Green Star rating on the building Installed solar PV Redefine’s largest solar PV plant installation Annual energy generation Plant size 3.8 MWh 2.9 MWP The solar plant provides 34
Slide 13: Centurion Mall
Centurion Mall 12
Slide 14: Centurion Mall
Centurion Mall Redefine Properties acquired Centurion Mall in August 2015 (established in 1983) and completed a redevelopment over three phases in December 2018 at a total spend of R1.06 billion. The mall is situated in the heart of the Centurion CBD, approximately 15 minutes from both Pretoria and
Slide 15: Centurion Mall asset facts
Asset type Super regional shopping centre Location Tshwane, Gauteng Retail GLA 118 962m2 Office GLA 13 128m2 Total GLA 132 090m2 Property valuation R3.5 billion Occupancy (Retail) 93% Occupancy (Office) 84% Number of tenants 231 Woolworths Game Anchor tenants Pick n Pay Dis-Chem Checkers Average mon
Slide 16: Turnover performance
Turnover performance R’bn 104% R3,0 R2,5 R2,0 R1,5 93% R1,0 121% R0,5 100% 100% 122% 101% 101% 147% 121% 149% R0,0 Total Essential Apparel Hard hit Bottle stores Electronics Fast food Furniture Homeware Toys Balance of turnover services category focused & interior business types 12 months to January
Slide 17: Future plans and planned solar PV
Future plans § Enclose Gordon Hood Road to improve parking access to the centre and enhance customer experience § Collaborate with City of Tshwane to rehabilitate the lake § Upgrade and improve existing parking equipment and infrastructure to improve customer experience § Install a new solar PV plan
Slide 18: S&J Industrial Estate
S&J Industrial Estate 17
Slide 19: S&J Industrial Estate ownership and extent
Ownership Redefine 90% (RDF 45% & PVT 45%) Co-owned with GGP (Abland 10%) Property and estate Managed by Abreal S&J Industrial Estate is an industrial estate development that comprises precincts divided into individual townships. The sizing Asset type of these townships are methodically planned to m
Slide 20: Overview
Overview § Valuation of developable land at total capex to date of R740 million § The total estimated land servicing cost is R708 million of which R500 million is planned for expenditure over the next nine years § Nominal return on equity for the complete infrastructure investment is projected at 36
Slide 21: Completed developments
Completed developments Stamp Mill Industrial Park, 18 653m2, valuation of R152 million Fully let, three tenants: Unit 1 Lease expires Net rental 6 834m2 Darsim Tool & Die 31 March 2032 R65.27/m2 Unit 2 Lease expires Net rental 5 882m2 CJB Logistics 30 June 2025 R61.56/m2 Unit 3 Lease expires Net ren
Slide 22: Developments in progress
Developments in progress We have concluded a new development lease with an Automotive Original Equipment Manufacturer for a new parts distribution warehouse § GLA – 22 341m2 § Lease commencement – 1 May 2023 § Lease period – 10 years § Net rental – R70.21/m2, escalating at 7% per annum § Initial yie
Slide 23: Developable land
Developable land Developable land Status Land – m2 Bulk – m2 Share proclaimed S&J Industrial Estate 26 606 15 964 1.87% (JX28) S&J Industrial Estate unproclaimed 920 048 552 029 64.64% Jupiter Ext 8 unproclaimed 388 201 232 921 27.27% Simmerfield Ext 2 unproclaimed 88 545 53 127 6.22% Total Availabl
Slide 24: Undevelopable land within S&J
Undevelopable land within S&J Non-core land (undevelopable) Reference Land –m2 Share Potential sale to adjoining land owner A 982 0.05% Truck and container yard B, C 21 102 1.15% Potential sale to Eskom D 4 271 0.23% Outlying developable land – under offer E&F 42 443 2.31% Car parking area/signage G
Slide 25: COVID-19 health protocols note
* Redefine Properties supports adherence and compliance with all COVID-19 health protocols, including the wearing of masks, sanitising of hands, and social distancing practices. Should, in any example of our marketing/advertising material, a model/actor/actress be depicted without a mask, this shoul