Leasing

Redefine employs a proactive leasing and tenant retention strategy and aims to secure long leases with stable tenants.

Rental growth
In the year to end August 2009, rentals on renewal grew by 7.35%. Rentals on new leases were achieved at an average of R65,18/m2, compared to the portfolio average rental of R55,29/m2.

Average rental escalations at 31 August 2009

Office   8.5%
Retail   7.9%
Industrial   8.8%

Lease expiry profile by let area

  GLA
  Office Retail Industrial Total
Year to 31 August m2 % m2 % m2 % m2 %
2010 488 262 40 271 758 25 208 984 21 969 004 29
2011 231 924 19 206 536 19 159 226 16 597 687 18
2012 158 685 13 228 277 21 189 081 19 576 043 17
2013 109 859 9 119 574 11 288 598 29 518 030 16
Beyond 231 924 19 260 888 24 149 275 15 642 087 19
  1 220 655 100 1 087 032 100 995 164 100 3 302 851 100

  Office Retail Industrial Total
Year to 31 August R/m2 R/m2 R/m2 R/m2
2010 57,28 59,80 26,47 52,21
2011 79,78 69,62 30,48 64,40
2012 84,04 86,85 27,82 68,85
2013 89,83 100,26 30,00 62,57
Beyond 105,10 106,49 41,05 92,65

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LATEST HEADLINES

  • REDEFINE NAME CHANGES ON 1 MARCH 2010Monday, March 1st, 2010

    If you research or trade in Redefine shares from today, 1 March 2010, you will notice that Redefine Income Fund Limited has officially changed its name to Redefine Properties Limited.

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  • REDEFINE ANNOUNCES INTENTION TO MOVE PROPERTY MANAGEMENT IN-HOUSEThursday, February 25th, 2010

    Redefine Properties has announced its decision to move the property management function of its portfolio in-house. In addition to creating the potential for significant annual savings in the future, the change in strategy aims to increase service delivery and streamline business processes and efficiency to enhance profitability.

    ...read more