Redefine Income Fund produced yet another solid performance with a 15% increase in distributions for the six months to February this year.

And prospects are looking good for the  property  company, which recently concluded the takeover of Spearhead Property Holdings, a top performing listed  property company based in Cape Town.

Redefine also has13 property  projects with an estimated cost of R1,2 billion in various stages of development at an initial average forward yield of 10% and a further five developments with an estimated cost of R1,3 billion being planned.

The company should also see further upside from an increase in vacancies as a result of the Spearhead acquisition because of the increase in the size of the overall  property  portfolio.

There is massive demand for space in the commercial  property sector, which includes retail, offices and industrial  property .

Business Day