Subcouncil resolution details

Subcouncil 17

Agenda item no

17SUB 14/6/2020 SM

Subject

PROPOSED LEASE OF PUBLIC STREET ERVEN 32726 AND 41124, CAPE TOWN, ATHLONE: THE HOOSEN FAMILY TRUST

Meeting date

Wednesday, June 17, 2020

Resolution

Approved

Date closed

Thursday, July 02, 2020

Resolution details

The Councillors unanimously supported the recommendation of the report.

RESOLVED that:

It is recommended that the Lease of Public Street, being Erven 32726 & 41124 Athlone situated at Barcombe Road, shown hatched and lettered ABCDEFG on the attached plan STC 3633 marked annexure A, in extent approximately 552 m², to The Hoosen Family Trust, owner of remainder Erf 32798 Cape Town or his successors in title, be approved subject to inter alia the following conditions_:

A market rental of R5700 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable. The monthly rental is to escalate at 6% per annum compounded annually commencing 01 May 2020. Rental to be reviewed after a period of 5 years.

The rental will escalate at 6% per annum;

The lease will endure for a period of ten years;

The property be used for parking purposes only;

Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;

Subject to compliance with any other statutory requirements;

No compensation will be payable for any improvement made to the property.

Action: Mr Saul Jacobs