Our property investments

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Redefine has a diversified portfolio, with exposure both locally and abroad.

We continue to invest in well-located properties that are high value, high quality and are more efficient, with a focus on blue-chip tenants to improve efficiency and to secure growth in rentals – all of which result in an improved cash flow. 

Our local strategy

Locally, our investment strategy is to continue expansion across traditional sectors by developing vacant land in under-represented areas, with an emphasis on portfolio improvement by acquiring, expanding, protecting and adding value through redevelopments. We manage our assets actively and efficiently, focusing on maintaining good relationships with our tenants and keeping abreast of their needs. 


South Africa

Strategy: Continued focus on portfolio quality

RECYCLING of secondary assets exceeded acquisitions during 2016

Contribution to distribution: 74.2%
Contribution to property assets: 76.8%

Number of local properties
2016 2015
Gauteng 199 215
Western Cape 52 47
KwaZulu-Natal 33 37
Other 28 34
Local geographic spread by value(%)
2016 2015
Gauteng 66 65
Western Cape 23 22
KwaZulu-Natal 5 6
Other 6 7
Local sectoral spread by value(%)
2016 2015
Retail 42 41
Office 36 38
Industrial 21 20
Specialised 1 1



International diversification

Our international investment strategy is centred on geographic diversification and taking advantage of positive initial yield spreads. We concentrate on capturing development and asset management opportunities to counter low growth rates locally. 



Europe (Germany and Poland)

Strategy: Continue to EXPAND in Euro-denominated growth markets, especially Poland

Underlying exposure:

77% RETAIL  |  23% OFFICES

Contribution to distribution: 2.9%
Contribution to property assets: 7.0%



United Kingdom

Strategy: LEVERAGE our holding to fund international expansion

Underlying exposure:
35% RETAIL | 33% OFFICES | 24% HOTELS | 8% INDUSTRIAL

Contribution to distribution: 8.6%
Contribution to property assets: 7.5%

Australia

Strategy: Expand EXPOSURE to student accommodation

Underlying exposure:
3% RETAIL | 97% OFFICES 

Contribution to distribution: 14.3%
Contribution to property assets: 8.7%