Subcouncil 4

Resolution detail

That the Proposed Lease of a Portion of City Owned Land being, Erf 99954, Cape Town, situated between Losacks and Kinghall Avenues, Epping Industria 2, Cape Town: Marblesharp Nine (Pty) Ltd BE APPROVED, subject inter alia to the following conditions that: a) A market rental of R12 000,00 per month inclusive of rates and exclusive of VAT be payable. b) The rental will be escalated at 8% per annum compounded annually commencing two months from date of this valuation. Accordingly, the above recommended rental is effective and payable as from 1 August 2018. c) The lease will endure for a period of ten years, subject to a review after five years. d) The rental is to be escalated on the basis of 8% per annum. e) The property be used for storage and 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) Railway siding entrance is from the north, between Erven 103769 and 103768. j) Should leasing be approved for portion of Erf 103253, the rail siding can still be used up to point A and B as per sketch. k) If the rail tracks be lifted and replaced, this must be at the cost of the Lessee (owner of Erf 103253) and the tracks needs to be handed over to Transnet with notification in writing to the City of Cape Town prior to Transnet approval. l) Railway blocks (as per Transnet specification) need to be installed at Rail tracks if area is going to be used for storage or parking. m) No permanent structures within the lease area shall be permitted. n) Any form of filling or surfacing proposed within the lease area shall be to the approval of the Director: TCT: Planning. o) The lease shall remain in force at Council pleasure and may be terminated at any time should the need arise. p) The lease area shall be restored to its original condition to the satisfaction of the Director: TCT.