Redefine International has reported a solid operating and financial performance by London listed Redefine International which has enabled a renewed focus on enhancing the property portfolio and the long term high quality income it delivers as evidenced by the number of successful asset management initiatives and new investments completed during the past six months.

Despite the persistent weak economic outlook in the UK and Europe, investment market activity was stronger in the last quarter of 2012 with better quality assets receiving strong interest from the investment market.  

Cromwell Property Group releases half year results

Diversified income focused property firm, Redefine International, announced in 2012 that it has through its 71% held subsidiary Redefine Hotel Holdings (RHH) Limited, acquired  60% of the issued shares in BNRI Earls Court Limitedfrom Camden Lock and Earls Court LLP for the purchase price of GBPounds 8.7 million. The purchase price plus transaction costs of £0.4 million reflected a net initial yield of 7.5% and was funded by the Company and its co-investors in RHH on a pro-rata basis.

Redefine is sticking with its strategic business objectives to realign and enhance the overall quality of its core property assets by restructuring all four of its VBG assets

Cromwell Property Group has announced on the Australian Stock Exchange that it was undertaking an equity capital raising of up to A$163 million to seed a new unlisted property trust, reduce debt and provide additional working capital.

The Board of Redefine International, the diversified income focused property company, today issues the following Interim Management Statement relating to the period from 1 September 2012 to 14 January 2013.

Redefine International, the London-based diversified income focused property company, announced today its plans to participate in and sub-underwrite a capital raising of up to AUD 163 million by the Cromwell Property Group

Redefine Properties International has acquired 60% of the issued shares in BNRI Earls Court from Camden Lock and Earls Court LLP for £8.7m, which complements the group’s existing portfolio of six high-quality hotels.