Subcouncil resolution details
Subcouncil 4
Agenda item no
04SUB 20/4/2024
Subject
PROPOSED LEASE OF A PORTION OF CITY-OWNED LAND, BEING A
PORTIONS OF THE REMAINDER OF ERF 32585 CAPE TOWN AND
REMAINDER OF ERF 101701 CAPE TOWN , SITUATED BETWEEN
CHRISTIAN AND DACRES AVENUE, EPPING INDUSTRIA 2, CAPE TOWN:
SA COPPERWORKS (PTY) LTD (SA METAL) FOR SECURITY PURPOSES
Meeting date
Thursday, April 18, 2024
Resolution
Recommend
Date closed
Sunday, April 28, 2024
Resolution detail
It is recommended that the lease of portion of the Remainder of Erf 32585 Cape Town and Erf 101701, situated between Christian and Dacres Avenue, Epping Industria 2, Cape Town, shown hatched and lettered ABCDEFGH on Plan No 130009342 attached and marked Annexure A, in extent approximately 1 007m², to SA Copperworks (Pty) Ltd, or its successors-in-title, BE APPROVED subject to inter alia the following conditions:
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A market rental of R12 100 per month, excluding VAT and including rates, calculated at the rate applicable as the time of the transaction, be payable;
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The monthly rental is to be adjusted on the basis of 6% per annum compounded annually commencing from 2023-10-01;
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The lease will endure for a period of ten (10) years;
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The rental is to be reviewed after a period of five (5) years;
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The property may be used for security purposes only;
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Subject to such further conditions to be imposed by the Director: Property Transactions in terms of his delegated authority;
g) Subject to compliance with any other statutory requirements;
h) No compensation will be payable for any improvement made to the property. |
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