Business Day Reporter
PROPERTY Partners, the new owner of Johannesburg’s Melrose Arch mixed-use precinct, has awarded the management contract for the project to Cape-based Rennie Property Management.
The three-year contract will entrench Rennie Property’s presence in Gauteng, where it opened an office 18 months ago. Rennie Property now has more than 160000m² commercial and retail property under management in Gauteng.
Henry Truter, Rennie Property’s director of facilities, said when the company contemplated the acquisition of Melrose Arch, Property Partners had called on Rennie Property to assist with the due-diligence investigation.
"On completion of the subsequent transaction, we were offered the management contract which involves the current and future income-producing properties on the site and also the Melrose Arch Property Owners’ Association," said Truter.
Existing offices will be manned by a GM, operations managers, leasing co-ordinator and administrator.
Publisher: Business Day
Source: Business Day
