www.prasa.com/cres
30 Wolmarans Str.
Private Bag X 101
T: +27 11 773 1700
1
THE SCOPE OF WORK
1.1
Prerequisites
Only registered Valuers are able to provide market valuations which have legal standing,
therefore all Valuers involved in the project should
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Have broad experience gained over the years in the property industry,
coupled with access to the most up to date property data bases in the
country.
Have valid SA Council for the Property Valuation Profession (SACPVP)
membership (to be confirmed annually on 31st of March each year)
To be registered as a Professional Valuer in terms of the provisions of the
Property Valuers Profession Act, 2000 (Without Restrictions)
To be a member of the SA Institute for Valuers
No member of the team working on PRASA’s portfolio to be current State
Employee
Have provided valuation services to state owned and listed entities within the
previous 12 month period.
Bidders shall comply with the following qualification requirements failure to comply will lead
to disqualification:
i.
To be considered, the service provider/entity must be in possession of a relevant
qualification or in the case of a company or joint venture, must have relevant
qualifications amongst its members/employees.
Each member/employee to be registered as a Professional Valuer in terms of the
provisions of the Property Valuers Profession Act, 2000 (Without Restrictions)
Proof of membership South African Council of Valuers is compulsory. Proof of
qualification and registration must therefore be submitted in respect of each bidder or
employees within a company or joint venture that submits this bid.
Certified copies will be accepted provided the PRASA can insist on having the
original documents submitted for verification purposes. Failure to submit the required
proof with the bid documents will result in the rejection of such bid irrespective
whether such bidders are indeed qualified or registered.
If at any time for the duration of this project being valid and in operation, an appointed
service provider and/or entity is struck off the roll or disbarred, the appointment of
such a firm will also be terminated and all instructions held by that firm will be
cancelled and recalled.
No member of the team working on PRASA’s portfolio to be current State Employee
ii.
iii.
iv.
v.
vi.
1.2
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The valuation work includes but not limited to the following:
Preparation phase
o Data collection from different sources and authorities (e.g. asset list, lease
income and terms data, Maps, SG Diagrams, Title Deeds, Municipal
valuation, etc )
o Visit to local Authority for data verification (e.g. municipal Values, zoning etc.)
Inspection of properties
o Technical inspection of all the properties and visual inspection of the
surrounding areas.
o Photographs
Market Research
o Provide Property Agents details , where possible
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Sources of information should be acknowledged in the report
Comparable Sales
Supporting market research for capitalization and vacancy rates and
expense ratios used
Compilation of Valuation of report (per asset) in line with PRASA’s requirements.
o Reports to display understanding of subject property and to include:
 Current owners details
 Correct legal description of the property
 Stand size
 Details of the property asset being valued such as size, construction,
condition etc
o Provide sufficient motivation for unutilised bulk, zoning and usage of the
Subject Property
o Only the latest available research sources like SAPOA Cap and Data Survey
or Rode Report to be cited
o Recent sales of property in the area
o A valuation of the property based on the most suitable valuation method
Provision of asset information in excel file format
Resolution of queries and follow up activities where required
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1.3
Total number of properties/sites
Valuation type
Number of Properties/Sites
Investment Properties
220
High Income Stations (Cape Town, Johannesburg
5
Park, Pretoria, Durban, Berea)
Insurance replacement value High Income Stations
5
(Cape Town, Johannesburg Park, Pretoria, Durban,
Berea)
Insurance replacement value additional Stations
5
Insurance replacement value Admin Buildings
7
Insurance replacement value Depots
7
All stations/properties are located is South Africa, 90% of PRASA Properties are located
within major metropolitan areas. List of sites will be provided at the Briefing session.
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2.
Technical Evaluation:
ANNEXURE 2
The following table indicates what will be measured in the technical evaluation stage and the amount of
points allocated per section.
The registration of the firm of the
valuer shall be at least 3 years old
at the time of consideration of
application by PRASA
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1.
2.
3.
4.
5.
Registration is under 3 years
Registration is 3 -4 years
Registration is 4 -5 years
Registration is 5 -7 years
Registration is 7 years or more
Company track record:
The service provider/entity
employees should have at least 3
years’ experience in the valuation
of assets for public sector
(Complete Form - K)
20
2 point for every project where valuation work was undertaken for
determination of Investment property and/or long term lease values, to
maximum of 20 points
1. Achieving 1 – 4 Points
2. Achieving 5 – 8 Points
3. Achieving 9 – 12 Points
4. Achieving 13 – 16 Points
5. Achieving 17 – 20 Points
Provision of valuations to listed
entities within the previous 12
month period
(Complete table Form - L)
20
2 point for every project where valuation work was undertaken for listed
entities within the previous 12 month period.
1 point for every project where valuation work was undertaken for listed
entities within the previous 12 - 24 month period.
Maximum of 20 points
1. Achieving 1 – 4 Points
2. Achieving 5 – 8 Points
3. Achieving 9 – 12 Points
4. Achieving 13 – 16 Points
5. Achieving 17 – 20 Points
National exposure
(Evaluation will be based on
information populated in tables
Form - K and Form - L)
18
2 point for every project where valuation work was undertaken in one of
South African Provinces, to a maximum of 18 points
1. Achieving 2 Points only
2. Achieving 4 Points
3. Achieving 6 – 8 Points
4. Achieving 10 – 12 Points
5. Achieving 14 – 18 Points
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CRITERIA
WEIGHT
SCORES
Demonstrated valuation experience of different land use types. Tabulate and
categorise the valuations undertaken for different land types. Points will be
allocated for every land use where valuation was undertaken to a maximum
points specified for each land use type:
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Valuation of different land uses
(Complete table Form - M)
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1.
2.
3.
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5.
Vacant land (1 point per 5 vacant land assets valuated to a
maximum of 6 points).
Commercial (1 point per commercial property valuated to a
maximum of 6 points).
Industrial properties (1 point per industrial property valuated to
a maximum of 6 points)
Property leased for long periods (1 point per lease (over 10
years) valuated to a maximum of 6 points).
Special type property including non-market property – linear
infrastructure/railway property (1 point per railway property
valuated to a maximum of 4 points)
Special type property - railway stations/airports/transport
interchange properties (1 point per railway stations/transport
interchange valuated to a maximum of 4 points)
Achieving 1 – 6 Points
Achieving 7 – 12 Points
Achieving 13 – 18 Points
Achieving 19 – 25 Points
Achieving 26 – 32 Points
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