Redefine Income Fund has acquired Allcare House, 90 Grayston Drive, Sandton, for R34.5 million at a favourable forward yield of 12%.

This 4,400m2 prime commercial property is located in the financial powerhouse of Sandton, with tenant Allcare Administrators (Pty) Ltd on a 10-year head-lease, effective from the transfer of the property to Redefine.

"In addition to the long lease and the building's strategic location, Allcare House complements Redefine's existing portfolio of premium properties with quality tenants," said Brian Azizollahoff, CEO of Redefine.