March 24 2026 22:30
CAPE TOWN, SOUTH AFRICA
Fairvest on Monday posted its pre-close update for the six months to end-March 2026.
The company’s portfolio, including 130 assets with just under 1.06-million GLA, recorded a positive rental reversion of 5.8% (September 2025: 4.8%) with an increase in vacancies to 5.9% (September 2024: 4.1%). As at February 2026, its team secured 198 new leases and renewed 162.
Its retail portfolio, comprising 77 assets, and making up 70.5% of its total portfolio, recorded a 4.8% vacancy during the period with a tenant retention rate of 85.2% and a positive rental reversion rate of 5.3%. The company secured 118 new leases as at February 2026 and renewed 117.
Its office portfolio, which includes 28 assets, making up 18.4% of its total portfolio, recorded a 9.7% vacancy with a tenant retention rate of 87.4% and a positive rental reversion rate of 5.7%. 51 new leases were secured with 17 renewed.
Fairvest’s industrial portfolio which comprises 25 assets, making up 11.1% of its total portfolio, recorded a 5.4% vacancy, a tenant retention rate of 85.8% and a 8.3% positive rental reversion rate with 29 new leases secured and 28 renewals.
During the period, the company disposed of its office asset Voortrekker Xchange in Goodwood, Cape Town with its acquisitions of Jozini Mall and Tugela Ferry Mall waiting on transfer.
An much as R107m was invested in its township fibre infrastructure business, bringing the total invested to R583.9m with rental income earned exceeding 12% of the capital invested.
Fairvest’s board forecasts an upper end of guided growth in distribution per B share of between 9% and 11% for the six months ending 31st March 2026 with its loan-to-value (LTV) ratio to be below 27%.
247@propertyflash.co.za
