Equites Property Fund Limited

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Equites Property Fund Limited (2021-10)
  • Equites Property Fund Limited
  • Year : Oct 2021
3 Tokens
USD 300.00
Summary

The REIT has a growing property portfolio which was valued at R19.2bn at FY21 (FY20: R14.8bn), with 95% comprising A-grade, blue-chip tenants. The strong tenant profiles coupled with a boom in demand for logistics space in both the South African and UK markets sustained robust performance. The weighted average lease expiry improved significantly to 15.4 years (FY20: 10.2 years), while escalations for the SA portfolio remain comfortably above inflation, which together with the continuous completion of developments and acquisitions will continue to be the driving force behind growth in rental income.

Additional Information

The Stable outlook reflects the expectation that the REIT’s portfolio quality will remain resilient relative to peers, backed by high occupancy rates with high quality tenants and largely pre-let development-led growth. Proactive management of the financial profile is expected to maintain the LTV ratio at the top end of the 30%-35% range, while earnings-based gearing is expected to improve over the long run.

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