RDI Reit, in which SA’s second largest real estate group Redefine Properties is the majority shareholder, has sold four assets in Germany and the UK for nearly R2bn as it rolls out a turnaround strategy after three-and-a-half years of havoc caused by uncertainty over Brexit and the rise of online retailing.

RDI, which is 29.44% held by Redefine Properties and is its UK  arm, sold an office in the UK and three shopping centres in Germany as part of this strategy, which involves shifting its focus primarily to British hotels, light industrial warehouses and flexible-term offices with its retail assets becoming secondary.

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