Properties

Intersite Investments

Intersite’s revised mandate is to leverage against the Group’s large asset base responsible for property and asset and development and drive the commercialisation of PRASA assets. With the major shift in PRASA’s strategic objectives to deliver on it’s vastly increased mandate. The primary role of Intersite within the PRASA Group is to develop and grow assets of PRASA to generate funding for the Group.

The mandate of Intersite Investments is to leverage non-operational and non-strategic assets of PRASA Group to raise additional revenue. The mandate will be realised through:

• Preparing the company for investment by a Strategic Equity Partner (SEP);
• Concluding an investment into the company by a SEP;
• Concluding commercial agreements and/or strategic partnership agreements with third parties in pursuance of the new strategy;
• Providing commercial support services function to the Group and
• Undertaking contract / project management work for select third parties.
• Developing and managing a shared services model for specific functions as identified by the Group.

PRASA CORPORATE REAL ESTATE SOLUTIONS (CRES)

The Corporate Real Estate Solutions (CRES) Division was established on the 1st October 2010. This followed the decision by PRASA to terminate the Management Agreement between the former SARCC and Intersite Property Management Services, mandating the latter to manage the Property Portfolio on behalf of the Group. The property portfolio is now being managed internally as a division of PRASA.

Intersite was a wholly-owned subsidiary of PRASA that was created in 1992 to manage and develop its property portfolio, of some 374 rail commuter stations and 4200 hectares of land in Durban, Johannesburg, Cape Town and Pretoria. Intersite formerly specialised in the management and development of State-owned property portfolio. Over the years, the organisation has developed a business model that met the special needs of the public sector, while offering the quality and service-delivery standards synonymous with market-driven businesses.

The specific mandate of PRASA CRES, is strictly about the Management of PRASA’s Property Portfolio (Real Estate Management), Optimisation and Commercialization of Space, Custodian of PRASA Accommodation Policy, Facilities Management, Station Improvement Programme as well as Station Upgrades. PRASA CRES is expected to focus on the Portfolio and not undertake outside work.

The following services are provided by CRES in the execution of its mandate:

• Facilities Management (Cleaning, Repairs and Maintenance, Horticulture).
• Real Estate Asset Management (Leasing, Utilities Management, Portfolio analysis, Land Administration).
• Real Estate Strategy (Long term acquisition and Disposal strategy, Nodal intensification and Corridor densification).
• Project and Development Management (Built Environment Professional Services, Project Management).