Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND the lease of portion of City Land, portion of Erf 24 Camps Bay, abutting Erf 833 Camps Bay, situated on the Corner of Geneva Drive, Sedgemoor Road and Shanklin Crescent, Camps Bay shown hatched and lettered ABCDEFGHJ on the attached plan 130008386 marked annexure A, in extent approximately ±407 m², to Franklin Van Wezel or his successors in title, BE APPROVED subject to inter alia the following conditions:
 

1. A market rental of R2 100.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;

2. The monthly rental to be adjusted on the basis of 6% per annum compounded annually commencing 2 months from date of valuation.  Accordingly, the above recommended rental is effective and payable as from 2022-06-01.

3. The proposed lease term is for a period of 10 (ten) years and is to be reviewed after a period of five (5) years;

4. The property be used for pool encroachment, gardening and access purposes only;

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

6. Subject to compliance with any other statutory requirements;

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