PORTFOLIO PERFORMANCE SPRING - 2020
CONTENTS
A NOTE FROM THE MANAGING DIRECTOR 01 FLANAGAN & GERARD: OVER THE DECADES 02 PORTFOLIO PERFORMANCE: APRIL 2019 - MARCH 2020 03-10 VAAL MALL 03 HIGHVELD MALL 04 MORNINGSIDE SHOPPING CENTRE 05 MALL OF THE NORTH 06 MIDDELBURG MALL 07 SPRINGS MALL 08 BALLITO JUNCTION 09 THAVHANI MALL 10 MUSINA MALL: A NEW ACQUISITION 11 PORTFOLIO STATS: INFOGRAPHICS 12 OUR COMMUNITY INITIATIVES 13 DEVELOPMENT OPPORTUNITIES 14 F&G NEWS: SPOTLIGHT ON THE YEAR 15
Flanagan & Gerard Offices P O Box 350 Rivonia 2128 Morningside Shopping Centre South Africa Disclaimer: The information presented in this brochure contains data, information and intellectual property of Corner Rivonia & Outspan Roads 010 590 4867 Flanagan & Gerard. This portfolio brochure is purely for marketing purposes and includes data collected between April 2019 through to March 2020, as well as historic demographic reports across the Flanagan & Gerard Group Morningside Sandton [email protected] portfolio. Any recommendations, discussions or agreements resulting from the material presented within this Gauteng www.fgprop.com brochure cannot be considered binding unless reduced to writing and agreed by both parties. All rights reserved.
A NOTE: FROM THE MD 01 centres were subject to surprise inspections by the government and new technology and trends. This built-in agility has come to the fore in other authorities, and all passed with flying colours. the wake of the COVID-19 crisis.
Community Assistance A new attraction starting to pop up in malls is the temporary clearance Being at the coal face of the most immediate impacts of COVID-19 store. These clearance campaigns span brands and retail names but are on society, we knew we wanted to be part of the national response mostly fashion-focused. The lockdown resulted in shortages of some and help those who are hardest hit. We believe that charity begins products but also created surpluses in others. We’re not talking end- at home, and we worked tirelessly with our retailers to support the of-range or end-of-season clearance, but great products that at any waiters, car washers and car guards that usually work at our shopping other time would have flown off shelves. Temporary clearance stores centres but couldn’t, to sustain them and their families. Our shopping are proving to be a fantastic way to give shoppers great deals on good centres also stepped up to be the hub of community efforts to feed products, assist retailers in clearing excess stock, and add new and the hungry and help those in need. We will continue to seek ways that appealing attractions to the shopping experience. we can conduct our business in a manner that considers our society and our environment. Retail Evolution For the short time that trade in alcohol was allowed, some restaurants COVID Relief pivoted to emerge as specialist liquor stores. Other restaurants This pandemic has changed our philosophy from profitability to have subsidised their regular business by becoming a direct conduit sustainability. We understand that our industry’s survival will depend between their suppliers of superior quality or specialised produce on retailers’ survival, and have engaged with the senior management of and the public, selling the ingredients that they would usually use to all retailers in our shopping centres to establish each business’s ability prepare their fare. With the restrictions placed on restaurants, their MUCH HAS TAKEN PLACE SINCE OUR PREVIOUS REVIEW, to survive the current situation. We provided substantial discounts BUT THE EVENTS IN SOUTH AFRICA SINCE MARCH 2020 HAVE to tenants who were forced to cease trade and, in many instances, UNDERSTANDABLY CONSUMED OUR ATTENTION AND THE FOCUS we also provided relief for tenants who were limited in their ability to OF OUR PARTNERS AND RETAILERS IN RECENT MONTHS. trade. The current situation will result in rentals that are more in line On 11 March 2020, the World Health Organisation declared COVID-19 with market forces, and landlords will need to reset their expectations a global pandemic. To ‘flatten the curve’, South Africa went into strict in line with the market. lockdown on 27 March. The impacts of the pandemic and the resulting lockdowns are being felt throughout the world, South Africa, our Some time ago, retailers and shopping centres set out on a journey sector and the Flanagan & Gerard family. There is no doubt that we are together to improve efficiencies. We believe the pace of progress facing a situation unlike anything we’ve had to deal with before. in this regard is going to increase. We are changing the way we do business to be more energy, water and cost-efficient and without a We have a small team of people who responded with agility and doubt, this is where the world needs to go. Also, in the face of reduced initiative to the demands of the COVID-19 lockdown at our shopping municipal service delivery and inadequate infrastructure in many areas, centres. They pulled together in a difficult time, which resulted in we expect more investment and innovation in ways that will help us encouraging solutions. We aimed to ensure that every step forward all to continue to operate during service disruptions. in opening our shopping centres didn’t result in a step backwards in curbing cases. Our team has done well to ensure that our shoppers could Even in these challenging times, we are witnessing unprecedented safely access the goods they needed, and our retailers could safely innovation and agility in the retail sector. Retailing has become an open their doors to trade when mandated. Several of our shopping ever-changing, ever-evolving industry, that is continually adapting to The Refillery, Morningside Shopping Centre
demand for produce is reduced, and by creating outlets to sell these It is well accepted that South Africa entered the coronavirus crisis with goods directly to the public, it solves problems for everyone in the a general oversupply of retail space as a result of over-development value chain. We think that this also meets a real shopper demand in many areas. We believe there will be low demand for new projects for artisanal products. People want to know more about where their in the immediate future from retailers, shoppers, and investors for that food comes from, and get closer to makers, creators, and curators. matter. Equally, there is very little development capital in the market. In response to the devastating impacts that COVID-19 is having on We are resolute that we will not add to any oversupply, and instead, small business in particular, many people are actively seeking out local we intend to stay focused on enhancing our existing shopping centres. products and consciously supporting small and local businesses. We hope to include more of these outlets in our retail mixes in future. New Developments With the confines on restaurant operations and many people remaining In the light of the impacts of the pandemic, and in the context of cautious about virus transmission and slow to return to socialising and economic uncertainty, we are assessing the feasibility of the projects the limited entertainment available, shopping centres are going to in our development pipeline to ensure the right timing and approach have to find other ways to create experiences. Without events, retail for each one. We still believe that all of the projects that were on our spaces will have to create their own theatre. Wowing the customer horizon remain great opportunities. Still, the way in which we deliver by greeting them by name and offering great products and services is them has to be considered in concert with how the world and South going to play a top role in achieving this. Africa resets its economic activities.
If done right, first-order goods specialists – be it butchers, bakers, Our priority is looking after the shopping centres in our portfolio to EDCON brewers or growers – will lead this experience with their compelling benefit our retailers, shoppers and our partners. Now is the time to Another challenge that was thrust upon us marked the end of an era for specialised product knowledge and personal touches. For instance, unlock potential at these properties and add value. We are prioritising retail in South Africa, with the already weak Edcon being decimated by in the period immediately after the months of hardest lockdown, up-leasing, fine-tuning tenant mixes, including introducing more first- the impact of COVID-19. As part of the business rescue process, CNA we noticed that hip and quirky coffee shops that offer exceptional order goods outlets into our shopping centres, and other appropriate was sold to a consortium of investors led by successful entrepreneur product and their own distinctive brand of service, enjoyed some of value-accretive projects. Benjamin Trisk, the founder of Exclusive Books, in early April. Our the quickest rebounds in trading as they have kept their fans and loyal team held numerous meetings to discuss replacement options for customers despite the business disruption. Edgars within our portfolio. Fortunately, Edgars was given a lifeline by Retailability, with a conditional offer to take over the top-performing Convenience shopping came to the forefront during the hard lockdown, Edgars stores. Similarly, the bulk of Jet stores are under offer from TFG. with its substantial overlap with what was deemed “essential retail Should they be successful, both new deals would be effective from and services”. As a result, more intentional shopping patterns have 1 September 2020. There will still be some store closures, and it is emerged, indeed when compared to the social shopping which we still unclear if any of these will happen in our portfolio. However, with were used to. People are shopping alone, leaving the children at home many of the Edcon stores being saved, there’ll be fewer closures and and not meeting up with friends and family on their shopping trips. less vacancy introduced to the South African retail property market to They are going armed with shopping lists, and shopping not only for deal with, which is good news indeed. their own households but for others who may be more vulnerable to COVID-19 infection. This behaviour means that while shopper numbers There is much to learn from the unprecedented situation we find are down, shoppers are spending more. It also reinforces that, no ourselves in and a long road ahead. Still, we are excited about the matter where people shop, they want to be greeted with effortless potential and the role we can play in rebuilding our industry and convenience at every turn. For those of us in the industry, this means economy to create something even better. We look forward to getting the basics right consistently. continuing this journey with our valued partners and retailers, together.
FLANAGAN & GERARD: 02 OVER THE DECADES
1976 1976 Pat and Pete meet at 1976 Sandton City, Rapp & Maister Eastgate, The Mall of Rosebank, Pick n Pay Hypermarket - Norwood, - Welkom, - Durban 1979 1979 1984 RMS Syfrets Wonderpark Hatfield Plaza 1986 1989 Quaggasentrum Northgate Mall N1 City Somerset Mall 1991 Bhunu Mall Southgate Mall 1995 Boardwalk Mall 1995 RMS Syfrets 1995 Mimosa Mall Riverside Mall becomes Colliers RMS 1997 Lakeside Mall
1999 Colliers RMS 1999 sold to Quyn
2001 2001 Flanagan & Gerard founded
Paarl Mall Size: 37 000m2
Vaal Mall Size: 50 000m2
2005
New Redruth Retail Centre Size: 12 000m2
2006
Highveld Mall Size: 47 000m2
Lakeside Mall Expansion: 12 000m2 2007 Total Size: 65 000m2
Morningside Shopping Centre Size: 11 687m2
2009 Makro 2 Size: 16 500m Highveld Mall Expansion: 7 000m2 Total Size: 54 000m2
Bedworth Centre Size: 35 000m2 2010
Mall of the North Size: 77 786m2
2011 Nicolway Bryanston Size: 23 000m2
Middelburg Mall Size: 43 000m2
Eyethu Orange Farm Mall Expansion: 27 000m2 2012
Heidelberg Mall Size: 34 164m2
2014 Highveld Mall Expansion: 12 827m2 Total Size: 66 827m2
Vaal Mall Expansion: 16 025m2 Total Size: 66 025m2 2016 Middelburg Mall Expansion: 13 385m2 Total Size: 56 580m2 Menlyn Maine Size: 25 000m2
Thavhani Mall Size: 53 344m2
Springs Mall 2017 Size: 53 382m2 Maluti Crescent Size: 34 500m2
Ballito Junction Regional Mall 2019 Size: 80 474m2
Musina Mall and Great North Plaza Acquired 50%: Size: 35 194m2
2020
03
OPENED: April 2006 - 50 000m2 EXPANDED: 30 November 2016 - 16 025m2 F&G SHAREHOLDING: 33.3% REGION: Emfuleni, Vaal Triangle, Gauteng WEBSITE: www.vaalmallshopping.co.za
Co-owners of Vaal Mall
TOTAL GLA 66 025m2
EXPANSION POTENTIAL AND DEVELOPMENT OPPORTUNITIES
MONTHLY TRADING DENSITIES
R4 182 R3 340
R2 878 R2 900 R2 835 R2 671 R2 763 R2 660 R2 697 R2 528 R2 659 R2 159 R2 856
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT 933 565 668 163 723 514 702 468 681 255 746 176 718 290 697 088 789 393 721 962 701 226 696 063 606 347
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R245.11 721 962 145 R34 272/m2 MONTHLY AVERAGE MONTHLY AVERAGE NUMBER ANNUAL AVERAGE SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY
04
OPENED: April 2007 - 47 000m2 PHASE 2: October 2010 - 7 000m2 PHASE 3: October 2012 - 12 827m2 F&G SHAREHOLDING: 18.5% REGION: Emalahleni, Mpumalanga WEBSITE: www.highveldmall.co.za
Co-owners of Highveld Mall
Retraction Props 7 Mogwele
TOTAL GLA 66 827m2
MONTHLY TRADING DENSITIES
R4 156
R3 423 R2 729 R2 641 R2 660 R2 618 R2 626 R2 644 R2 548 R2 603 R2 329 R2 406 R2 097
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT 845 421 735 647 627 147 652 391 646 831 655 450 664 014 657 306 656 841 625 902 607 966 571 220 662 178
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R264.60 662 178 185 R32 749/m2 MONTHLY AVERAGE MONTHLY AVERAGE NUMBER ANNUAL AVERAGE 4.0% ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
05
OPENED: June 2009 F&G SHAREHOLDING: 50% REGION: Morningside, Sandton, Gauteng WEBSITE: www.morningsideshops.co.za
Co-owners of Morningside Shopping Centre
TOTAL GLA 11 687m2
MONTHLY TRADING DENSITIES R4 836 R4 655 R4 488 R4 512 R4 424 R4 451 R4 324 R4 245 R4 380 R4 182 R4 225 R4 133 R4 081
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT
310 526 310 010 307 744 310 095 304 292 303 572 299 166 295 414 298 236 296 462
280 114
270 255 268 119
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R156.79 296 462 62 2 MONTHLY AVERAGE MONTHLY AVERAGE NUMBER R52 556/m 1.8% ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
06
OPENED: April 2011 F&G SHAREHOLDING: 20% REGION: Polokwane WEBSITE: www.mallofthenorth.co.za
Co-owners of Mall of the North
TOTAL GLA 77 786m2
LAND AVAILABLE FOR FUTURE DEVELOPMENT
MONTHLY TRADING DENSITIES R4 698
R3 383
R2 525 R2 545 R2 611 R2 411 R2 567 R2 451 R2 404 R2 525 R2 585 R2 739 R2 168
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT 995 740
764 243 672 688 668 342 702 422 693 412 720 836 694 044 671 916 682 721 663 060 711 103 603 808
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R273.11 711 103 180 R32 871/m2 MONTHLY AVERAGE MONTHLY AVERAGE NUMBER ANNUAL AVERAGE 3.7% ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
07
OPENED: April 2012 - 43 000m2 PHASE 2: October 2014 - 13 385m2 F&G SHAREHOLDING: 33.3% REGION: Middelburg, Mpumalanga WEBSITE: www.middelburgmall.co.za
Co-owners of Middelburg Mall
TOTAL GLA 56 580m2
MONTHLY TRADING DENSITIES
R3 833 R3 224 R2 558 R2 726 R2 760 R2 542 R2 616 R2 545 R2 453 R2 382 R2 432 R2 555 R2 719
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT
730 850 583 141 617 102 587 345 596 266 601 684 580 520 593 826 654 094 592 726 573 684 587 054 608 191
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R227.65 608 191 2 MONTHLY AVERAGE MONTHLY AVERAGE 120 R32 626/m 1.2% NUMBER ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH 08
OPENED: March 2017 F&G SHAREHOLDING: 21% REGION: Springs, Ekurhuleni, Gauteng WEBSITE: www.springsmall.co.za
Co-owners of Springs Mall
TOTAL GLA 53 382m2
MONTHLY TRADING DENSITIES
R3 511
R2 623 R2 191 R2 109 R2 116 R2 100 R1 958 R2 059 R2 034 R2 016 R2 065 R1 961 R1 739
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT 661 716 593 370 537 489 523 585 551 769 537 693 519 667 490 502 504 844 544 176 514 878 538 996 488 257
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R193.51 538 996 2 MONTHLY AVERAGE MONTHLY AVERAGE 170 R26 290/m 15.8% NUMBER ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
0509
COMMUNITY CENTRE GLA: 9 900m2 EXPANDED: 23 March 2017 - 70 574m2 F&G SHAREHOLDING: 25% REGION: Ballito, KZN WEBSITE: www.ballitojunction.co.za
Co-owners of Ballito Junction
TOTAL GLA 80 474m2
MONTHLY TRADING DENSITIES
R4 248
R2 523 R2 364 R2 295 R2 040 R1 980 R2 102 R2 051 R2 091 R2 043 R2 008 R2 086 R2 006
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT 1 385 177
982 326 950 123 881 774 865 602 899 081 906 718 913 586 887 373 896 534 938 346 888 608 803 244
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R184.22 938 346 2 MONTHLY AVERAGE MONTHLY AVERAGE 236 R27 541/m 5.5% NUMBER ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
10
Thavhani Mall at Thavhani City
OPENED: August 2017 F&G SHAREHOLDING: 44.67% REGION: Thohoyandou, Limpopo WEBSITE: www.thavhanimall.co.za
Co-owners of Thavhani Mall
TOTAL GLA 53 344m2
PRECINCT DEVELOPMENT OPPORTUNITIES AVAILABLE
MONTHLY TRADING DENSITIES
R4 548
R2 934 R2 233 R2 193 R2 429 R2 366 R2 430 R2 383 R2 325 R2 362 R2 177 R2 449
R1 387
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT
1 060 122 891 181 861 366 856 048 821 197 815 667 784 250 758 829 769 781 782 782 783 779 716 645 702 029
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R136.44 815 667 2 MONTHLY AVERAGE MONTHLY AVERAGE 140 R29 392/m 7% NUMBER ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
11
A NEW ACQUISITION
OPENED MUSINA MALL: 30 March 2017 - 30 258m2 GREAT NORTH PLAZA: 4 936m2 F&G SHAREHOLDING: 50% REGION: Musina, Limpopo WEBSITE: www.musinamall.co.za
Co-owners of Musina Mall
TOTAL GLA 35 194m2
MONTHLY TRADING DENSITIES
R4 698
R3 185 R2 666 R2 634 R2 841 R2 671 R2 768 R2 856 R2 722 R2 720 R2 472 R2 601 R2 903
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
MONTHLY FOOTCOUNT
782 218
573 107 557 729 546 354 602 366 561 144 594 458 572 089 514 823 530 131 541 972 546 162 514 602
MONTHLY APRIL 2019 MAY 2019 JUNE 2019 JULY 2019 AUG 2019 SEPT 2019 OCT 2019 NOV 2019 DEC 2019 JAN 2020 FEB 2020 MAR 2020 AVERAGE
R130.87 572 089 2 MONTHLY AVERAGE MONTHLY AVERAGE 67 R34 834/m 8.2% NUMBER ANNUAL AVERAGE ANNUAL TURNOVER SPEND PER HEAD FOOTCOUNT OF STORES TRADING DENSITY GROWTH
PORTFOLIO STATS: INFOGRAPHICS 12
KEY INFORMATION MONTHLY AVERAGE TURNOVERS
NUMBER OF SHOPPING CENTRES IN F&G PORTFOLIO 9*
TOTAL GLA 492 107m²*
TOTAL ANCHORS GLA 1 71 814m2* R74 870 434 TOTAL NUMBER OF STORES 1305 R194 209 521 R46 481 720 R176 963 053 R175 209 097 R172 862 099
ANNUAL SPEND PER HEAD R201.37 R138 452 071 R111 290 873 R104 302 027 ANNUAL TRADING DENSITY R31 664 MORNINGSIDE VAAL HIGHVELD MALL OF THE MIDDELBURG SPRINGS BALLITO THAVHANI MUSINA SHOPPING MALL MALL NORTH MALL MALL JUNCTION MALL MALL TOTAL ANNUAL VISITORS 70 379 918 CENTRE
% OF TOTAL PORTFOLIO OCCUPIED BY ANCHORS MONTHLY AVERAGE FOOT COUNT
VAAL MALL 42.2% 938 346
HIGHVELD MALL 35.8% 815 667 721 962 711 103 MORNINGSIDE 45.6% 662 178 608 191 538 996 572 089 MALL OF THE NORTH 44.2%
MIDDELBURG MALL 49.3% 296 462 SPRINGS MALL 42.7%
BALLITO JUNCTION 42.9%
THAVHANI MALL 33.4% MORNINGSIDE VAAL HIGHVELD MALL OF THE MIDDELBURG SPRINGS BALLITO THAVHANI MUSINA SHOPPING MALL MALL NORTH MALL MALL JUNCTION MALL MALL MUSINA MALL 37.4% CENTRE
* Performance data captured between and including April 2019 through to March 2020 and excludes Makro Vaal
MONTHLY SPEND PER HEAD TRADING DENSITY COMPARISON SOLAR
VAAL MALL R 245.11 ANCHORS LIMPOPO R30 534 Thavhani Mall HIGHVELD MALL R264.60 OTHER MPUMALANGA GAUTENG MORNINGSIDE R184.22 TENANTS R32 465 MALL OF THE NORTH R273.11 KZN MIDDELBURG MALL R227.65 GLA ANCHORS SPRINGS MALL R193.51 41% OTHER BALLITO JUNCTION R184.22 TENANTS 59% SOLAR POWER INSTALLED IN PLANNING THAVHANI MALL R136.44
MUSINA MALL R130.87 YEAR ON YEAR TOTAL PORTFOLIO MONTHLY TURNOVER % GROWTH
20.5% 14.8% 14.4% 10.6% 14.5% 17.6% 14.6% NUMBER OF STORES 11.1% 10% 12.2% 12.3% 12.1% -7.7%
VAAL MALL 145 APR MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR OVERALL GROWTH 2019 2019 2019 2019 2019 2019 2019 2019 2019 2020 2020 2020 HIGHVELD MALL 185 TRADING GLA VS TRADING DENSITIES 2 MORNINGSIDE 62 2 2 2 2 75 317m 2 MALL OF THE NORTH 180 2 70 897m 64 199m 61 961m
MIDDELBURG MALL 120 2 R52 556 50 923m 47 607m 45 436m R34 834 R34 272 2 R32 750 R 32 626 SPRINGS MALL 170 R32 872 R29 393 R27 542 25 792m R26 291 BALLITO JUNCTION 236 10 613m
THAVHANI MALL 140 MORNINGSIDE MUSINA THAVHANI BALLITO SPRINGS MIDDELBURG MALL OF THE HIGHVELD VAAL SHOPPING MALL MALL JUNCTION MALL MALL NORTH MALL MALL MUSINA MALL 67 CENTRE
OUR COMMUNITY INITIATIVES 13 of peace, the Ekurhuleni Centre was started in 2010 by Mrs. Talitha WE CARE INITIATIVE Mthethwa and took in its first 100 children in 2012. The centre now cares for more than 225 children every day.
With the funds raised through the auction and donations by our generous guests, we were able to support the centre with various marketing, branding and compliance tools, sports equipment, board games, educational programmes, groceries and stationery as well as toiletry packs for the children.
Once again, we extend our heartfelt gratitude to everyone who took In partnership with Dzana Investments, Flanagan & Gerard raised part and contributed to this great cause. nearly R90 000 at the Dr Reuel Khoza Whisky Tasting event.
Together with Dzana Investments, the Khoza family’s Investment office, with whom we have previously partnered and co-owned Heidelberg The Morningside Team and Gift of the Givers getting ready to hand out Mall, Flanagan & Gerard saw it fit to partner once again on this Clicks toiletry packs formidable Corporate Social Investment feat. The evening’s objective was to enrich and enhance the lives of previously disadvantaged The coronavirus pandemic has brought attention to the plight of the and predominately HIV-orphaned children in the Lowveld town of Boys and girls bags Food parcels and poverty stricken unemployed and hungry in South Africa and in the Acornhoek, Mpumalanga. were handed out to dinner was reserved at communities near our malls. In the past few weeks, a Social & Ethics over 220 children the handout event Committee was set up and embarked on a CSI initiative on behalf of A genuinely extraordinary evening of overwhelming generosity has Flanagan & Gerard. With the help of centre management staff a total helped many of the wishes of the centre come true. The Dr. Reuel number of 1 330 parcels were distributed. The 4 centres that were Khoza Whisky Tasting event was hosted at The Whisky Brother Bar identified for this initiative were: at Morningside Shopping Centre, at the end of 2019. The event raised nearly R90,000 for this deserving cause. Mrs. Talitha Mthethwa, founder of the Ekurhuleni Centre for Orphans and Nkateko Khoza addressing the teachers Nkateko Khoza, who was born in Acornhoek and whose family still Vulnerable Children and children of ECOVC resides in the area, is the CEO of Dzana Investments and has helped form part of this outreach and CSI team.
Most importantly, however, it gave a well-deserved boost to the great care offered by the Ekurhuleni Centre for Orphans and Vulnerable Children and its 30-strong team of teachers and staff. Meaning place
Thavhani Mall
Susan Soanes of Dzana Investments Nkateko Khoza handing out dinner with the children of ECOVC to all the children
Morningside Shopping Centre Thavhani Mall In partnership with Pick n Pay Outspan, the Morningside Shopping A total number of 246 parcels were donated by Thavhani Mall; Centre (MSC) co-owners Flanagan & Gerard and Grapnel Property Group set up the “WE CARE” initiative to purchase and distribute food • Thavhani Mall together with Superspar donated 60 parcels to Nzhelele parcels to all our restaurant waiters, waitresses, car washers and staff Ha-Khakhu. from the smaller SMME’s. • 145 food parcels were donated to the community of Malenze Village. With many of our retailers and services unable to trade during the lockdown, Morningside Shopping Centre recognized that there is a • 41 food parcels were donated to tenant staff of Thavhani Mall. need to support the staff across all retailers that have not been able to earn an income during the lockdown. Co-owners Khosi Ramovha and Emmanuel Netshiongolwe assisted in Thavhani Mall partnered with Superspar in handing out parcels to the the distribution of these parcels. people of the Mulenzhe Village • With the help of Pick n Pay Morningside, Morningside Shopping Centre (MSC) put together a total number of 301 food parcels. Springs Mall • 221 tenant employees’ which had not been paid and were in severe 380 parcels assisting a total number of 1500 people was distributed by distress were identified and provided with food parcels. Springs Mall.
• 30 homeless people in the community by the Riverside bridge also These food parcels assisted individuals that work in the mall i.e. car benefited from these food parcels. washers and trolley pushers.
• 50 Families in need were identified and were also assisted. Households in dire need were also identified within the community and were also able to benefit from this initiative. Morningside Shopping Centre has decided to get the community Springs Co-owner Franco D’Arrigo handing food involved in donating towards the needy in Morningside surrounding parcels out to the community areas by receiving nonperishable items using “We Care Boxes” located on each level of Morningside Shopping Centre. Ballito Junction Ballito Junction partnered with SAPS Umhlali on their initiative to supply as many families within the communities with essential items. Ballito Junction, with the help of Pick n Pay Ballito, put together 200 parcels towards this initiative.
50 families connected to Vukuzakhe crèche, which Ballito Junction has adopted, received parcels.
150 parcels were donated to communities in need around Ballito Jason Nel and Sharon Henry It is only when we all pull together namely Ndwedwe, Nkobokgo and Fraser, an informal settlement. launching the donation boxes at Members of the SAPS Umhlali getting ready to hand food parcels out to the that great things can happen Morningside Shopping Centre surrounding communities of Ballito
DEVELOPMENT OPPORTUNITIES 14
Thavhani City
Thavhani City
Thavhani Motor City Motor City Dealership
Fives Futbol & Outdoor Gym Transportation Terminal Future Car Wash
Thavhani Value Centre
Hospital, Hotel and Offices Venda Stadium
In conjunction with the Thulamela Municipality’s vision to have Thohoyandou become a city by 2030, opportunities exist for motor dealerships, offices, medical and value retail at Thavhani City.
Community Centre
R101
MALL OF THE NORTH
Long term development opportunities exist in R81 collaboration with Flanagan & Gerard on multiple parcels of land in proximity to Mall of the North.
R81
The Vaal Mall Co-owners acquired a site adjacent to Vaal Mall and the R57, which will BARRAGE ROAD provide additional access into the Vaal Mall Proposed Future precinct. Retail and Commercial development
Building opportunities exist. VAAL MALL BOULEVARD ROSSINI Drive Thru Options
R57
Petrol Station Site
R57
Proposed layout and locality of commercial and retail opportunities
F&G NEWS: SPOTLIGHT ON THE YEAR 15
Partnerships Over Whisky Pete’s 70th Signature Lunch From left to right: Lisa Skinner of TFG, Jannie 2019 was a big year for birthdays, with Non-Executive Co-Chairman Moolman of Moolman Group and Gerda Visagie Spioenkop Summit th Peter Gerard celebrating his 70 . This event was held at Signature of Growthpoint Properties, attending the Dr Reuel Last day of the F&G Berg MTB tour finished up at the top of Restaurant, where the F&G team got to celebrate this huge Khoza Whisky Tasting fundraising event hosted Spioenkop with a lunch and talk by a local farmer, who spoke in milestone with Peter and his close family. by F&G at the Whisky Brother Bar in Morningside great detail about the Battle of Spioenkop. Shopping Centre. The Early Days SACSC USA Tour
F&G Managing Director Paul Gerard on the left, with Neil Schloss, Head of Retail Property at Growthpoint Properties, taking some time out of the busy schedule on the SACSC American Tour. Thavhani Receives Recognition Milestone Celebrations Drakensburg MTB Tour Thavhani Mall received the 2019 SAPOA Award for Innovative Excellence in Property Development, Elsje Bodenstein, F&G’s Iron Lady, celebrated her F&G hosted MDS, ABSA and Momentum to a Berg MTB tour in the Drakensberg Best Rural & Small-town Development Category. milestone birthday in style at The Green Peppercorn, mountains. With Detour Trails showing the way, this 3-day tour saw 10 riders face Receiving the award - Sedise Moseneke of Vukile Morningside Shopping Centre. Other big birthdays 185km of MTB trails all over the Drakensberg escarpment, with Montusi Mountain Property Fund and Donald McGillivray of MDS included Nelia Teixeira-Scott and Gareth Sanders, Lodge being the base camp. Architects. Frozen For You Opening who share the same birthday.
10 Years in the Making To celebrate Chris Teague’s 10-year anniversary at Flanagan & Gerard, a Foozball championship party was set up and lucky enough, the spoils went Growing the F&G Team to Chris himself and his Foozball partner, our very own Mama Daphne Queen of Smoothies Our Leasing Expert Born on the 30th of April 2020, Milly 2020 has been a year for growth within the Sebola. Frances Nel was introduced to the family F&G team. Dom, Reeve and Hannah Scheel of Jason and his wife, Mandy, along with also welcomed Jackson on the 3rd of May 2020. their son, Austin.
Carpooling in PE
Pretty in Pink A Boardwalk Initiation Over 100 Years of Experience Whisky Beer Brothers Paul Gerard bumping into With the announcement of the Boardwalk Mall development, F&G Graham Smith at one of hosted Sun International, Moolman Group and the professional team, From left to right: Non-Executive Co-Chairman of Flanagan & Gerard, Pat Flanagan with Truworths Property Manager Stuart Bendall the Proteas vs England to celebrate the milestone by handing over personally named hard longtime friend, guest speaker Dr Reuel Khoza, Chairman of Dzana Investments and catching up with Paul Gerard at the Dr Reuel pink ODI matches at hats for the project. interim Chairman of PIC, and Jannie Moolman of Moolman Group. Khoza Whisky Tasting. Wanderers.
Flanagan & Gerard Offices Morningside Shopping Centre Corner Rivonia & Outspan Roads Morningside Sandton Gauteng
P O Box 350 Rivonia 2128 South Africa 010 590 4867 [email protected] www.fgprop.com
Disclaimer: The information presented in this brochure contains data, information and intellectual property of Flanagan & Gerard. This portfolio brochure is purely for marketing purposes and includes data collected between April 2019 through to March 2020, as well as historic demographic reports across the Flanagan & Gerard Group portfolio. Any recommendations, discussions or agreements resulting from the material presented within this brochure cannot be considered binding unless reduced to writing and agreed by both parties. All rights reserved.