Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND that:

1. Council resolve that, in terms of section 14 of the Local Government: Municipal Finance Management Act, Act 56 of 2003, that the subject property being a portion of Unregistered State Land abutting Erf 150977 Cape Town, situated off Mostert Street, Cape Town, in extent approximately 999 m² as shown cross-hatched and lettered ABCDEF on the Plan STC 2781v1, Annexure A attached to the report, is not needed to provide the minimum value of the asset and the economic and community value to be received in exchange for the asset;
2. Council grants in-principle approval in terms of regulations 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of Unregistered State Land abutting Erf 150977 Cape Town situated off Mostert Street, Cape Town, in extent approximately 999 m² as shown cross-hatched and lettered ABCDEF on Plan STC 2781v1, Annexure A attached to the report;
3. Council, in terms of section 4 of the City of Cape Town Immovable Property By-law, 2015, approve the closure of the subject property being a portion of Public Road, abutting Erf 150977 Cape Town situated on Mostert Street, Cape Town, in extent approximately 999 m², shown hatched and lettered ABCDEF, on the Plan STC 2781v1, Annexure A attached to the report;
4. The transfer of a portion of Unregistered State Land in extent approximately 999 m² as shown cross-hatched and lettered ABCDEF, on the Plan STC 2781v1, Annexure A attached to the report: to Woolmos Properties Share Block Ltd, or its successor(s) in title, BE APPROVED, subject to the following conditions:

 

1. A purchase price of R3 860 000.00 excluding VAT be payable;
2. The purchase price is to be escalated by 6% per annum compound annually on a pro-rata basis commencing from date of valuation, i.e. 1 June 2017 until date of registration;
3. An amount of R17 500 per month, escalating by 8% p.a. with effect from 1 April 2014, charged in lieu of rental until date of registration of transfer of the subject property into the applicant’s title less any amount (rental) already paid;
4. Rates and municipal charges, if applicable, be levied;
5. The subject property is restricted to the use of (ground-level) parking purposes only and a zero bulk in perpetuity.  A reversionary clause is to be included in this regard;
6. A servitude is to be registered over the existing services in favour of the City;
7. Bulk cannot be transferred or alienated to Erf 150977 Cape Town;
8. The objections not be upheld;
9. Subject to such further conditions to be imposed by the Director:  Property Management in terms of her delegated authority, including inter alia the following:  

aa)  that all further statutory and land use requirements be complied   with;
 
bb)  that the subject portion of Public Street be consolidated with the   purchaser’s Erf 150977 Cape Town;
 
cc)  that the current lease agreement be terminated on date of   registration of transfer;
 
dd)  that all costs related and incidental to the transaction be borne by   the purchaser;
 
ee)  that the paid public parking remain