Property Portfolio

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We’re continually improving the quality of our core property portfolio through developing world-class spaces, acquiring properties in line with our strategy and refurbishing existing spaces to keep them modern and relevant.

Redefine focuses on securing fully repairing leases with tenants, which allows us to service them fully. For our investors and our business, this approach offers cash flow comfort and lower vacancy rates.

To view our property portfolio, download our schedule of properties below. For further information please contact: Investorenquiries@redefine.co.za


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As at 31 August 2015

Top 10 properties by value and GLA – 31 August 2015

Centurion Mall

% ShareN/A
SectorRetail
RegionPretoria
Value (R'm)3 884
GLA m2119 089

 

Blue Route Mall

% ShareN/A
SectorRetail
RegionWestern Cape
Value (R'm)1 256
GLA m255 501

East Rand Mall

% Share0.50
SectorRetail
RegionGreater Jhb
Value (R'm)1 187
GLA m231 257

 

Black River Office Park

% ShareN/A
SectorOffice
RegionWestern Cape
Value (R'm)1 054
GLA m252 603

 

Golden Walk

% ShareN/A
SectorRetail
RegionGreater Jhb
Value (R'm)898
GLA m264 624

 

Matlosana Mall

% ShareN/A
SectorRetail
RegionOther
Value (R'm)893
GLA m264 624

 

The Towers

% ShareN/A
SectorOffice
RegionWestern Cape
Value (R'm)878
GLA m254 316

 

Kenilworth Centre

% ShareN/A
SectorRetail
RegionWestern Cape
Value (R'm)869
GLA m248 947

 

N1 City Mall

% Share0.58
SectorRetail
RegionWestern Cape
Value (R'm)844
GLA m237 241

 

90 Rivonia Road

% ShareN/A
SectorOffice
RegionSandton
Value (R'm)776
GLA m235 636

 

Redefine continues to deliver on its strategy of diversifying, growing and improving the quality of its property portfolio. During the year, management’s primary domestic portfolio focus was on protecting, expanding and improving existing well-located properties.

Acquisitions: Redefine acquired and transferred four properties, with a GLA of 21 547m², during the year, for an aggregate consideration of R228,3 million, at an initial yield of 9.4%. In addition, Redefine acquired three development properties for an aggregate consideration of R285,7 million the reporting period, Redefine acquired a further two development properties, for an aggregate consideration of R250,5 million with a developable area of 493 265m² (Redefine’s share: 268 715m²).

Developments: Redevelopment projects are in progress in the existing portfolio with an approved value of R1,1 billion at an average yield of 6.4%. New development projects covering 156 876m² of GLA with an approved value of R2,5 billion at an average yield of 9.2%, are presently in progress. Projects totalling R2,2 billion were completed during the year. 

Disposals: 16 properties with a GLA of 177 189m², which did not meet Redefine’s investment strategy, were disposed of during the year to various buyers for an aggregate consideration of