The Futuregrowth Community Property Composite is a portfolio specialising in the acquisition of new and existing shopping centres which cater to the needs of underserviced communities throughout South Africa and forms part of Futuregrowth’s suite of developmental investments.
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The benchmark is CPI + 4%.
The Composite aims to outperform the CPI by 4% per annum before the deduction of taxes and fees and with income reinvested over a rolling 3-year period. The Composite seeks to provide investors with a low cost, high value property investment that focuses on emerging market retail property growth in underserviced rural communities and high density urban centres.
The Composite currently owns 22 shopping centres located in rural and township areas in seven of the nine provinces. These centres provide retail services and products to a primary target market of approximately 10 million people. Overall, the Fund has purchased, developed or (in some cases) disposed of 34 shopping centres countrywide since inception.
The centres deliver retail services to low- to middle-income groups. They vary in size between 1 700m² and 40 000m² and are typically tenanted by supermarkets, clothing, banking and furniture retailers. Large, listed, national and franchise tenants occupy an average of 86.7% of the space across all the shopping centres.
The Composite aims to provide investors with a vehicle that offers service and consumer facilities to local communities, facilitates infrastructure and delivers on a variety of social impact requirements.
Each centre is a catalyst for the development of:
- Transport infrastructure (taxi ranks and bus terminals) and infrastructure such as electricity, water and sewerage services which benefit the community;
- Vehicular service stations, additional shopping centres and municipal services; and
- Municipal infrastructure through increased rate payments by the new
- The Community Property Fund invests for value in Heidelberg Mall / view
- Futuregrowth’s Community Property Composite – an investment with socio-economic, financial impact / view
- Community Property Fund outperforms listed property for a second year running / view
- Meet Mzo, Motherwell Centre Manager / view
- Motherwell Centre – investment in the community / view
- The case for an alternative property investment / view
- Rural shopping centres delivering market beating returns / view
- Community Property Fund outperforms listed property / view
- Unjani Clinic launched in Diepsloot Mall / view