Subcouncil 3

Resolution detail

It is recommended that the lease of portion of public street, being a portion of erf 736, Kenridge situated at Durbanville, shown hatched and lettered ABCDEFG on the attached sketch TA 818v0 marked annexure A, in extent approximately 1 293m², to Inframax investments (Pty) Ltd, owner of Erf 857 Kenridge, or his successors in title be approved subject to inter alia the following conditions, that: A) A market rental of R15 300.00 per month exclusive of VAT and inclusive of rates be payable; B) The rental will escalate at 8% per annum; C) The lease will endure for a period of ten years, subject to a review after 5 years; D) The monthly rental is to adjusted on the basis of 8% per annum compounded annually commencing 2 months from the date of this valuation. Accordingly, the above recommended rental is effective and payable as from 2017-10-01; E) The property be used for parking purposes only; F) Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority; G) Subject to compliance with any other statutory requirements; H) No compensation will be payable for any improvement made to the property; I) All outstanding accounts with the City of Cape Town must be settled; J) The land will be used for parking purposes only and no structures, other than boundary fencing will be permitted within the lease area. FURTHER RESOLVED K) That the leased area must be fenced off. L) That the lessee ensures that no access to the property is taken from Tygervalley Road. ACTION: GERDA DU PLESSIS SECTION 24 DELEGATION 10(1)