ApexHi Properties Limited has extended its property management contract with Broll Property Group for a further five years to end September 2011.

Broll Property Group was appointed as the outsourced property manager for ApexHi’s property portfolio in 2001, when the portfolio comprised only 15 properties. Since then, the portfolio has grown to more than 240 properties, spread throughout the nine provinces.

ApexHi executive director, Deon Feinblum, says Broll has employed a team of more than 100 property professionals who are dedicated to the ApexHi portfolio, and who operate from nine regional offices to service the properties in the various areas. “The structure of the ApexHi team at Broll mirrors the ApexHi structure, with finance, retail, commercial and industrial, and operational specialists,” says Feinblum.

Broll’s focus is primarily on servicing the 3300 tenants in the portfolio, renewing leases, and securing new tenants for vacant space. In the year to end June 2005, leasing deals worth R665-million, covering 430,110m2 were concluded. 314 395m2 represented renewals and 115 715m2 related to new lettings.

Leases covering 359 473m2 are expected to expire between July 2005 and June 2006, and based its letting history, ApexHi expects to renew about 74% of these leases, and let the remaining space to new tenants.