Gensec achieves record R1.2-billion in leases

Posted On Wednesday, 15 March 2006 02:00 Published by
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Gensec Property Services (Gensec) a leader in the property industry has announced that in 2005 the company concluded leases worth R1.2-billion that totals to 768 155m2 of property space.

14 March 2006

Gensec Property Services (Gensec) a leader in the property industry has announced that in 2005 the company concluded leases worth R1.2-billion that totals to 768 155m2 of property space.

Gensec signed new leases to the value of R444.6-Million, totaling

265 955m2 of property space. Gensec also reported a 49% increase in commission paid to independent brokers.

"The area per m2 let by external independent brokerage firms considerably increased from 63 000m2 to a total of 75 000 m2 that culminated in a total of R8,38-Million commission that was paid to brokers during 2005, this shows a 49% increase of commission paid to independent brokers," confirms Marna van der Walt, CEO of Gensec Property Services (Gensec).

"Renewals of leases also played a major role in the success achieved, resulting in a total of 505 200m2 that related to the contract value of R764-Million."

"Also contributing to the growth is the property boom and Gensec's aggressive approach to leasing and strong focus on reducing vacant space. To prolong strong growth in 2006 Gensec have launched a vacant space reduction project and is aiming to achieve less than 5% vacancy on all multi-tenant portfolios."

"Over the last year Gensec has transformed into a business that services multiple clients providing a full range of innovative property-related solutions. Our strong understanding of client requirements combined with our strong management team, extensive property expertise, and entrepreneurial spirit resulted in huge growth for Gensec and partnering brokers," concludes van der Walt.

-End-

About Gensec

Managing a diversified portfolio of R12 billion, Gensec Property Services is one of South Africa's largest independent and progressively empowered management companies.

Further information:

Tania Taylor
Gensec
Tel: 011 471 7457
Fax: 011 471 0552
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Nadia Swift
Livewired Communications
Tel: 011 202 7877
Fax: 011 804 3804
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

For immediate comment, please contact:

Marna van der Walt - CEO
Gensec Property Services
Tel: 011 471 7530


Publisher: Gensec Property Services
Source: Gensec Property Services

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