RDI REIT said chairman Greg Clarke will step down during the course of 2018, with the exact timing of his departure determined by the identification of a successor.

The real estate investment trust also confirmed that Redefine Properties was no longer considered to be a controlling shareholder of the company due to its shareholding falling below 30%.

The relationship agreement between RDF and Redefine had ceased to operate and the dual election of independent non-executive directors at an upcoming annual general meeting would therefore no longer be required.