Exemplar REITail’s anchor tenants achieved a record R1.22 billion in turnover during December 2024, jumping 21% from December 2023’s R1 billion, with its overall portfolio boasting some of the top trading Shoprite stores in the country.
On a like-for-like basis, excluding additions to the portfolio, anchor tenant turnover increased by over 10% with 50% of Exemplar’s grocers reporting double-digit trading density growth in December, of which five of these trading densities grew over 25%. Exemplar’s recently acquired Eerste Rivier Mall in the Western Cape emerged as the property fund’s best performing asset in terms of grocer trade during December.
Health and beauty among Exemplar’s tenants improved by 7% for December on a like-for-like basis, after years of anaemic growth with discretionary spend on fashion and footwear growing ahead of CPI.
Chris Hani Crossing in Gauteng and Edendale Mall in KwaZulu-Natal were some of the best performing assets across the board, showing an increase of over 20% in total sales.
“Footfall growth mirrored the turnover growth with footfall across the portfolio increasing 24%. Phola Mall in KwaMhlanga was the top performer, exceeding over a million feet for the period with Edendale Mall, KwaBhaca Mall, Mall of Thembisa and Theku Mall all hovering close to the million-mark in December,” says Jason McCormick, CEO of Exemplar REITail.
“We are confident that the Festive Season results have set the standard for retail performance into 2025. We expect the usual lull in January and February trade as consumers find their feet and settle into the new year, but we remain committed to driving further growth by focusing on innovation, sustainability, and putting communities at the heart of all we do.”