Vukile Property Fund’s SA retail portfolio recorded an increase in performance between November and December 2024, particularly its township shopping centres which were the best performing local assets with trading density growth of 9.6%. The REIT’s rural and urban centres delivered trading density growth of 5.9% and 4.6% respectively.
Overall, Vukile’s portfolio achieved a strong 6.1% growth in trading density during the period when compared to the same months during 2023, continuing its portfolio’s annualised trading density momentum which was 2.4% in March 2024 and 4.2% in September 2024.
Retail categories with the most significant turnover growth were ‘Unisex wear’ (+7.7%), ‘Groceries’ (+7.2%), Fast Food (+6.3%), and ‘Home Furnishing’ (+6%).
Footfall in its SA retail portfolio increased by 5% when compared to November 2023, reflecting a stronger Black Friday trade with December 2024 footfall remaining consistent with the same period in 2023.
Vukile’s Iberian portfolio (Castellana Properties) reported an increase of 4.9% in sales in November 2024 in Spain when compared to November 2023 with all retail segments experiencing growth. The ‘Leisure’ sector jumped by 21.1%, ‘Food & Beverages’ 12.2% and ‘Health & Beauty’ by 7.3%. The portfolio’s December 2024 sales rose by 4.8% with ‘Homeware’ leading at 9.4% followed by ‘Leisure’ at 7.8% and ‘Sports & Adventure’ at 5.6%.
Shopper footfall surged by 9.7% in November 2024 with a 17% increase during Black Friday week. For Black Friday specifically, Castellana’s Spanish shopping centres saw a 10.8% uptick in visits.
In Portugal, November sales climbed by 8.5% year-on-year with all consumer categories showing improvement. ‘Household & Furniture’ led with a 17.5% increase with ‘Accessories’ rising by 12.9%. ‘Electronics’ rose by 11% with ‘Fashion’ by 7.4%). December sales increased by 2.8% with ‘Leisure’ the top performer recording a 26.9% increase followed by ‘Household & Furniture’ at 15.1%, ‘Accessories’ at 5.8% and ‘Fashion’ at 5%.
Footfall in the Portuguese retail assets increased by 4.6% in November 2024 and surged by over 15.9% during Black Friday week. On Black Friday, footfall rose by 21.2% with a 2.1% increase during December 2024 when compared with December 2023.
