THE activities of Gensec Property Services in Cape Town have gathered momentum in recent months where major contracts have been negotiated. One such project is the redevelopment of the Sanlam Centre - Parow, where Gensec is managing the project on behalf of the owners. The cost of the current phase of the redevelopment is estimated at R12 million and involves the replacement of Virgin Active with Absa and Standard Bank.
Gensec has partnered with Pam Golding and Akhona Properties to secure the contract from the Department of Foreign Affairs to house embassies. This demands high levels of organisation and management, requiring an international lease, a comprehensive audit and environmental scans for all areas where embassies will occupy property.
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In terms of our brokering service we have been instrumental in forging some major deals such as the Nedcor Braampark transaction conducted on behalf of Sanlam," says Marna van der Walt, Gensec CEO. Since the beginning of the year Gensec has concluded lease agreements to the value of R627 million, covering a total area of 317 000sq m of retail, commercial and industrial space.The company is currently in the process of repositioning its Cape Town offices and has negotiated a deal to move to the foreshore. Michel du Toit has been appointed to head up the coastal region, which will include all Cape Town offices and the offices in KwaZulu Natal. Gensec is on the look out for acquisitions and mergers with smaller property companies, some of which have already been identified, to expand its presence in the Cape. "From an operational point of view, one of our strategies is the expansion of an established specialist retail division that adds value to clients" says van der Walt.
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South African Revenue Services has seen the benefit of our approach in the management and tenant installation services that we undertook, using structured procurement, based on pre-defined standards to unlock value," says van der Walt. Structured procurement is Gensec’s innovation borne of the company’s commitment to drive standards and technical specialisation. "We have also developed the Building Information System, another tool that increases efficiency."Publisher: Cape Business News
Source: Cape Business News
