Redefine International: St Anne’s House to be sold for £8.4m

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Listed Redefine International has agreed to sell the St Anne’s House office building in Croydon in England for £8.4 million (R154m), which is 68 percent or £3.4m above the property’s book value in August last year. Mike Watters, the chief executive of Redefine International, which has a primary listing on the London Stock Exchange and inward listing on the JSE’s main board, said last week the large premium to book value achieved on this sale boded well for valuation increases across its portfolio in the future. Watters said this disposal would enable the company to recycle the proceeds into other areas of the company’s portfolio. Shares dropped 1.77 percent to close at R9.42 on the JSE on Friday.

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