Investor site visit Retail - Wednesday, 24 July 2019 - Redefine Properties
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REDEFINE PROPERTIES LIMITED Investor site visit Retail Wednesday, 24 July 2019
ELDORAIGNE 3 DIE HOEWES
R55
R101 N14
CENTURION MALL
WIERDAPARK
Agenda CENTURION
2
HENNOPSPARK N1
RD
TE
IM
RU
CENTURION
LIFESTYLE
CENTRE
N14
R511 ROOIHUISKRAAL R21
RD
ETORIA
N14
OLD PR
R55
SUMMIT RD
RD
IN
MA
NOORDWYK OL
IFA
NT
SF
ON
N1 TE
IN
RD
1 R562
R511 R101
KYALAMI
CORNER
R21
OL DR
MIDRAND
M NIC
TEMBISA
CE
WILLIA
DA
R
RD
R55
FOURWAYS LONE HILL
N RD
OPPE
Kyalami CornerSUNNINGHILLCenturion Lifestyle Centre Centurion Mall
WITK
N1 WE
STERN
BYPAS
S 1
WOODMEAD
Kyalami Corner
3
Asset type Small regional shopping centre
Location Kyalami, Johannesburg
GLA 27 968sqm
Property valuation R710m
Occupancy 94.6%
Number of tenants 82
Checkers
Anchor tenants Woolworths
Virgin Active
Average monthly footfall 300 000
Annual turnover R583m
Annual mall trading density R31 003
Annual spend per head R2 242
Parking 1 257 bays
Redefine investor site visit | Retail – July 2019
About us
The new Kyalami Corner shopping centre, opened in April 2017,
resonates with the retail, lifestyle and social aspirations of the
Kyalami community and surrounding areas. Accessed from both
the R55 and Main Road, the centre offers ample free parking and a
design that is elegant and energy-efficient, blending perfectly with
the natural, equestrian character of the area. The centre is home to
Woolworths Food and Checkers stores, as well as Clicks, MICA, and
Virgin Active gym. For discerning foodies, the centre offers a choice
of restaurants including Jackson’s Real Food Market, The Baron,
Piza e Vino, Salsa Mexican Grill, Mugg & Bean, The Rock Diner,
Yasong Chinese Food and Hello Tomato among others.
Leasing updates
Future leases entered into with:
Dis-Chem
Fine and Country Estate Agency
Easy Life Kitchens
Ocean Basket
Mochachos
Miladys
5
Future plans
xtend the mall to accommodate Dis-Chem
E
Connect the upper level with lower level where Checkers
is currently located
Build a children’s play area
Invest in infrastructure in non-GLA areas such as
LED screens, billboards and promotional courts
Upgrade pause areas in the centre
Lease prospects
Ackermans
Mozambik
Seattle Coffee
Redefine investor site visit | Retail – July 2019
Notes
7
Centurion Lifestyle Centre
9
Asset type Regional shopping centre
Location Tshwane, Gauteng
GLA 62 297sqm
Property valuation R1.03bn
Occupancy 97.2%
Number of tenants 81
Pick n Pay
Mr Price Home
Anchor tenants Checkers
Virgin Active
Decathlon
Annual turnover R1.02bn
Annual mall trading density R25 485
Parking 1 597 bays
Redefine investor site visit | Retail – July 2019About us
Centurion Lifestyle Walk
The new R67.6m development was completed in February 2019,
with Stodels as the first tenant starting to trade in July 2018.
Decathlon followed in December 2018 with Jonsson Workwear
commencing trading in February 2019.
Leasing updates
10 year extension on Checkers existing lease
Future plans
Create a mall from Checkers directly to the parking
Reconfigure traffic flow to the new Checkers mall
Cover existing mall between Checkers and Mr Price
11Redefine’s largest solar PV plant installation
LAST 12 MONTHS
Plant size (capacity)
Annual kWh production 2 925 kWp
4 305 360
Capex
Savings from solar plant
R33.6 million
R5 291 637 Panel count
9 000 modules
Carbon emissions saved
4 090
Redefine investor site visit | Retail – July 2019Notes
13Centurion Mall
15
Asset type Super regional shopping centre
Location Tshwane, Gauteng
Retail GLA 117 800sqm
Office GLA 12 200sqm
Total GLA 130 000sqm
Property valuation R4.6bn
Occupancy 96%
Development cost R1.06bn
Number of tenants 216
Woolworths
Game
Anchor tenants Pick n Pay
Dis-Chem
Checkers
Average monthly footfall 1.2m
Annual turnover R2.54bn
Annual mall trading density R30 326
Annual spend per head R2 129
Parking 5 830 bays
Redefine investor site visit | Retail – July 2019About us
Initially established in 1983, Redefine Properties completed a
redevelopment of Centurion Mall over three phases. The mall
is situated in the heart of the Centurion CBD, approximately
15 minutes from both Pretoria and Midrand. It is conveniently
located close to the N1 highway on route to Johannesburg, and
easily accessible from the highway via the John Vorster offramp.
In addition, the Centurion Gautrain station is within walking
distance from the mall, making it easy for shoppers to reach
the mall on foot, or via Gautrain buses or cabs.
17Centurion Mall redevelopment
Phase 1 Phase 2
Woolworths extension
evelopment of a new mall from main
D
spine to Pick n Pay
Banking Mall upgrade
new promotions atrium was created,
A
Completed: November 2015
together with a new Dis-Chem
The South Street entrance, mall and facade directly adjacent
general upgrade to all finishes was
A
to the parking was enhanced to create an impressive sense
also undertaken
of arrival with a new feature atrium
new entrance, featuring a canopy,
A
The roof over the escalator to the lower level was upgraded
was built from the external parking
with a new feature canopy
New GLA was created at the upper level mall, adjacent
to Game and Wimpy
New mall and atrium extension – upper mall New eastern mall entrance
Redefine investor site visit | Retail – July 2019Phase 3
U
pgraded the existing Checkers mall, which includes opular restaurants were retained and some
P
a Blue Label Checkers of 7 300sqm repositioned around the food court area and new will
be added around the redesigned food court area
U
pgraded the existing spine with a new H&M anchor store at
the Checkers entrance with a new entrance design feature ew Planet Fitness gym was opened under exterior
N
upper parking with a link into the mall
T
he ground floor extension of the spine with new escalators
connecting to lower ground retail include the following: Extended mall to accommodate DionWired
– New iStore (relocated)
– New Mugg & Bean
– High fashion branded stores
– New model Exclusive Books
– Renovation of Ster-Kinekor
New mall extension – interior view H&M new entrance to Checkers mall from spine
19Refurbishment before and after South Road facade Ground floor spine Redefine investor site visit | Retail – July 2019
Bayside
Entrance 7
21Future plans
Introduce more landscaping and a shade structure
Add a children's play area
Closure of Gordon Hood Road alongside Checkers entrance to
incorporate additional parking
Create and manage a park-like area adjacent to the lake
Commenced development of a new formal taxi rank to relocate
South Road taxis. Completion expected March 2020
Potential bridge connection to the Gautrain station
Redefine investor site visit | Retail – July 2019Notes
23Notes Redefine investor site visit | Retail – July 2019
25
www.redefine.co.za
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