Redefine is a South African-based Real Estate Investment Trust (REIT), with a sectoral and geographically diversified property asset platform. Redefine’s portfolio is predominately anchored in local, directly held retail, office and industrial properties, which is complemented by retail and logistics property assets in Poland.
Our purpose is to create and manage spaces in a way that changes lives, which requires more than a business as usual approach: it requires an integrated approach to making strategic choices that will sustain value creation for all stakeholders by focusing on what matters most.
We are listed on the Johannesburg Stock Exchange (JSE). By volume, Redefine’s shares are among the most actively traded in the SA REIT sector, making it a highly liquid, single-entry point for investors to gain exposure to domestic and Polish real estate markets.
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During August 1999 the property now known as Black River Park was purchased by the present owner of the property, Black River Park Investments (Proprietary) Limited. The developers set about re-developing the buildings from the north to the south of the site and systematically moved the existing tenants into the buildings now known as Sita House and Gate House.
It was anticipated that the new tenants would be industrial-related but that idea soon changed when the developers found that the product that was being offered was unique to what was then being offered in the commercial property market. The developers set about re-developing the building now known as the Old Warehouse building into office space and created approximately 8 800 square metres of space.
In a matter of weeks that building was let and re-development of all the buildings took place simultaneously. Tenants who were unable to rent sufficient space in the existing buildings created sufficient demand for the developers to purchase the adjoining property and build a further 8 000m² on that site. The building is now known as The Terraces and is located on the south-eastern corner of the property.
During 2003, planning of Black River Park North commenced after the developers secured a 45-year lease from Intersite. Construction of a further office park measuring 22 500m² was completed during 2004.The Cental Building (with the glass facade) was developed during 2006, providing for an additional 13 500m2. The entire Park currently consists of just under 75 000m2 of lettable space.