Redefine Income Fund will upgrade, refresh and re-energise The Posthouse and Bryanston Wedge Shopping Centre, located adjacent to each other on Main Road, Bryanston.

Resulting from the lifting of transfer restrictions on these two properties earlier this year, owner Redefine is investing approximately R15 million to transform these two centres into a vibrant retail and dining node.

The name of the Posthouse will remain unchanged, and was named after The Post Office which was once an original landmark in the area and is still there today.  The Bryanston Wedge will be renamed Posthouse Link to create a sense of both centres functioning as one entity.  Posthouse Link is anchored by The Baron.

Together Posthouse & Link will cater for the burgeoning young professionals and families within the surrounding residential areas, as well as people working in the nearby office nodes along William Nicol and Main Road.

“These centres are ideally located with superb visibility from Main Road with easy and convenient access. The upgrade will create an aesthetically pleasing and convenient destination node for both retailers and shoppers alike” said Redefine’s fund manager Grant Abrahams.

The upgrade will add approximately 120 parking bays to the existing facilities at Posthouse Link as well as see the reconfiguration of the existing tenant mix and layout at both centres.

Strategic leasing, which is focused on getting the ideal destination stores to meet the needs of the surrounding residents as well as to complement the existing retail and service offerings, is currently being undertaken and is set to enhance the existing tenant mix of Posthouse and Link.

Already, with the changes underway, new tenants have been attracted to the node including Oriental carpet dealer Yen Creations and The French Café coffee and sandwich shop.

“A year ago approximately 30% of the two centres stood vacant. This has already reduced to 20% since the upgrade began in July. There has been an increasing interest from retailers and we expect to fill the centres with the best possible retailers,” stated Abrahams.

The upgrade of Posthouse & Link is scheduled for completion during the second quarter of 2006.

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For further information please contact:

Grant Abrahams

Redefine Income Fund

Tel. 011 283 0000

Or

Sandy Davey

Marketing Concepts

Tel. 011 880 2213