About Transnet Property
Transnet Property currently manages a portfolio of commercial and residential properties with a book value of R6,5bn, out of a Transnet property portfolio of R35bn. The remainder of the property portfolio is still managed by the other Operating Divisions.
Transnet Property was established on 1 January 2008 by merging Propnet and Transnet Housing. At the time of its formation, it became only a Strategic Support Unit not focused on growth, but a corporate centre function providing services to the group by managing the non-core and strategic property portfolio, pending disposal or utilization by business and providing corporate real estate services.
Asset base and facilities
The property portfolio currently consists of commercial and residential assets. The commercial portfolio consists of offices, warehouses, retail buildings and land. Residential property portfolio consists of vacant stands, individual housing units and mass housing, which comprises of hostels, lodges and line camps.
Transnet Property’s portfolio current capability includes leasing and lease administration, day-to-day management (operations), facilities management and property administration (billing and collections). Apart from portfolio management, Property also provides specialised property services to Operating Divisions and the Corporate Centre.
The key services currently include property valuation, municipal valuation monitoring, land surveys and registration, property inventory management and geographic information, as well as records and deeds management.
Some of Property’s tenants occupying office space include the Free State Premier’s Office, the Northern Cape Department of Health, the Hawks in Port Elizabeth, the City of Cape Town, the Passenger Rail Agency of South Africa and First National Bank. In the industrial and warehousing category, key tenants include, among others, Shoprite, Rovos Rail Tours, Grindrod Intermodal, DHL and Aspen Pharmacare. Key retail tenants in the eastern region consist of the following tenants: BP, Umlazi Mega City and Barlow Motor Investments.
Property’s flagship Carlton Shopping Centre has a tenant mix that includes leading local brands such as Pick n Pay, Woolworths, Timberland, Edgars, Mr Price Kiddies, Absa, Nedbank, Standard Bank, Capitec, Clicks, McDonald’s, Nando’s, KFC and Wimpy. While the Carlton Hotel is currently non-operational, the old Skyrink ice skating facility is now occupied by Skyrink Studios.