Subcouncil resolution details
Subcouncil 16
Agenda item no
16SUB 26/1/2020
Subject
APPLICATION TO RENEW LEASE OF PORTION OF PUBLIC LANE,ABUTTING ERVEN 142117 AND 10190 CAPE TOWN,COFFEE LANE,OFF BARRACK STREET,CAPE TOWN FOR STORAGE OF BINS AND EQUIPMENT PURPOSES:TELKOM SOUTH AFRICA SOC LIMITED
Meeting date
Monday, January 20, 2020
Resolution
Approved
Date closed
Monday, February 03, 2020
Resolution detail
APPLICATION TO RENEW LEASE OF PORTION OF PUBLIC LANE, ABUTTING ERVEN 142117 AND 10190 CAPE TOWN, COFFEE LANE, OFF BARRACK STREET, CAPE TOWN FOR STORAGE OF BINS AND EQUIPMENT PURPOSES: TELKOM SOUTH AFRICA SOC LIMITED
UNANIMOUSLY RESOLVED to RECOMMEND that the lease of portion of public lane, abutting erven 142117 and 10190 Cape Town situated at Coffee Lane, off Barrack Street, Cape Town, shown hatched and lettered ABCD on the sketch STC 3641 marked Annexure A attached to the report, in extent approximately 194 m², to Telkom South Africa SOC Limited, owner of Erf 142117 or his successors in title, BE APPROVED subject to inter alia the following conditions:
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A market rental of R 2.000.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
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The rental to be reviewed after 5 years;
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The monthly rental is to be adjusted on the basis of 8% per annum compounded commencing from 2018-01-01.
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The lease will endure for a period of ten (10) years;
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The property be used for storage of bins and equipment purposes only;
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Subject to such further conditions to be imposes by the Director: Property Management in terms of her delegated authority;
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Subject to compliance with any other statutory requirements;
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The lane is not to be used for parking purposes;
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No compensation will be payable for any improvement made to the property.
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