Property Management Services for the Public Transport Authority of Western Australia

Large Government commercial leasing portfolio (see attached document - 2013082 Public Transport Authority Property List - Schedule 7 for estimated annual portfolio value)

The Public Transport Authority (PTA) owns or controls real estate in Western Australia, some of which is not currently required for operational purposes and can be leased or licensed for use by other parties in accordance with the provisions of the Public Transport Authority Act 2003. The PTA is also authorised to act as an agent with respect to the management of leases and other interests in rail corridor land by section 42(4) of the Rail Freight System Act 2000, including the right to grant leases (other than leases and licences to Local Government) over corridor land and buildings and other structures thereon that are not required for operational purposes by the Network Lessee.

The PTA has an appointed Property Management Agent who manages third party use of its surplus property under a Contractual Agreement that expires at the end of June 2014. The PTA now intends to invite tenders from licensed real estate agents to manage the future use of these properties. At present the PTA has approximately 595 leased properties, many of which are situated in country areas. The majority of the properties leased are for land only and are therefore effectively ground leases, with the lessees being responsible for carrying out their own repair and maintenance of the buildings and improvements. Where the leased premises include buildings or improvements, which are the property and responsibility of the PTA (subject to a Lease or Licence) the Property Management Agent is responsible for reporting to the PTA about repair and maintenance and making recommendations in relation to suitable preventative maintenance programs.