Analysis of Portfolio
At 31 August 2009, the Redefine portfolio comprised a total of 403 properties valued at R18,2 billion with a lettable area of 3,6 million m2.
| Number of leases |
GLA | |||||||
|---|---|---|---|---|---|---|---|---|
| Office | Retail | Industrial | Total | |||||
| Number | % | m2 | m2 | m2 | m2 | % | ||
| Single tenanted properties | 117 | 29 | 117 | 258 854 | 188 986 | 557 771 | 1 005 611 | 28 |
| Multi tenanted properties | 286 | 71 | 4 587 | 1 100 906 | 996 442 | 507 091 | 2 604 439 | 72 |
| Total | 403 | 100 | 4 704 | 1 359 760 | 1 185 428 | 1 064 862 | 3 610 050 | 100 |
Sectoral spread
To ensure risk is well spread, Redefine’s portfolio is appropriately divided between retail, office and industrial properties.
Sectoral spread by GLA
| Number of | GLA | ||
|---|---|---|---|
| properties | m2 | % | |
| Office | 158 | 1 359 762 | 38 |
| Retail | 155 | 1 185 426 | 33 |
| Industrial | 90 | 1 064 862 | 29 |
| 403 | 3 610 050 | 100 |
Sectoral spread by gross monthly rental
| Gross | Average | ||
|---|---|---|---|
| monthly | rental | ||
| rental | rate | ||
| R000 | % | R/m2 | |
| Office | 81 440 | 45 | 64,35 |
| Retail | 78 204 | 43 | 67,60 |
| Industrial | 22 775 | 12 | 25,96 |
| Total | 182 419 | 100 | 55,29 |
Geographical spread
Redefine is invested in quality properties throughout South Africa in its directly held property portfolio. The portfolio comprises properties located in concentrated nodes in all nine provinces.
Geographical spread by GLA
| GLA | rate | |
|---|---|---|
| m2 | % | |
| Gauteng | 1 977 151 | 55 |
| Western Cape | 587 692 | 16 |
| KwaZulu-Natal | 518 143 | 14 |
| Mpumalanga | 154 717 | 4 |
| North West | 112 783 | 3 |
| Limpopo | 108 339 | 3 |
| Eastern Cape | 103 917 | 3 |
| Free State | 32 397 | 1 |
| Northern Cape | 14 911 | 1 |
| Total | 3 610 050 | 100 |
Geographical spread by gross monthly rental
| Gross monthly rental R000 |
rate % |
|
|---|---|---|
| Gauteng | 99 203 | 54 |
| Western Cape | 30 710 | 17 |
| KwaZulu-Natal | 24 778 | 14 |
| Mpumalanga | 7 329 | 4 |
| Eastern Cape | 6 361 | 3 |
| North West | 5 364 | 3 |
| Limpopo | 4 643 | 3 |
| Free State | 2 638 | 1 |
| Northern Cape | 1 393 | 1 |
| Total | 182 419 | 100 |
