According to analyst Leon Allison of First South Securities (Pty) Ltd, 40% of Redefine's directly owned property portfolio has leases expiring in 2008 and beyond. This means that income from a substantial portion of Redefine's assets is guaranteed for the next four years, and in numerous cases, even longer.
"In addition to the length of its lease expiry profile, the quality of Redefine's tenants and properties means it also has a sound lease profile," said Allison.
Redefine's recent acquisitions have contributed to the extension of its lease expiry profile. This includes the purchase of the 14,270m2 Alexander Forbes House, 90 Rivonia Road, Sandton, entirely occupied by Alexander Forbes Group on a new 7-year triple net lease.
For further information, please contact:
Redefine Income Fund
Brian Azizollahoff
Tel: 011 283 0000
Cell: 083 255 2351
Or
Leon Allison
First South Securities
Tel. 011 343 2200
or
Marketing Concepts
Sandy Davey
Tel: 011 880 2213
