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Subcouncil resolution details

Subcouncil resolution details

Subcouncil 16

Agenda item no

16SUB 15/6/2020 SM

Subject

PROPOSED LEASE OF PORTION OF ERF 192 CAPE TOWN, RYK TULBAGH SQUARE, FORESHORE

Meeting date

Monday, June 15, 2020

Resolution

Approved

Date closed

Friday, July 03, 2020

Resolution details

  UNANIMOUSLY RESOLVED to RECOMMEND that:
 

  1.  the lease of portion of Erf 192 Cape Town placed at Ryk Tulbagh Square, shown hatched and lettered A curve BC curve DE curve FG curve H on the sketch STC 3158 marked annexure A attached to the report, in extent approximately 1 700 m², to Mohamed Shiraz Ahmed or their successes in title, BE REFUSED based on content of the report and objections be upheld.
 
  1. the alternate proposal received from Friends of Ryk Tulbagh Square for the lease of portion of public place, being a portion of Erf 192 Cape Town situated at Ryk Tulbagh Square, shown hatched and lettered A curve BC curve DE curve FG curve H on the sketch STC 3158 marked annexure A, in extent approximately 1 700 m², to Friends of Ryk Tulbagh Square or their successors in title, BE APPROVED subject to inter alia the following conditions:
 
  1. a market rental of R36 300 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable.  The monthly rental to escalate on the basis of 8% per annum compounded         annually, commencing 01 October 2018 until 31 March 2020 and thereafter         6% per annum.   The rental will be reviewed after 5 years;
 
  1. The rental will escalate at 6% per annum;
 
  1. The lease will endure for a period of ten years;
 
  1. The property be used for parking and security purposes only;
 
  1. The property is restricted to 33 parking bays only, dedicated loading bays not to be charged.
 
  1. Subject to such further conditions to be imposed by the Director:  Property Management in terms of her delegated authority;
 
  1. Subject to compliance with any other statutory requirements;
 
  1. No compensation will be payable for any improvement made to the property.
 
  1. Objections be upheld

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