Subcouncil 4

Resolution detail

RESOLVED TO RECOMMEND

Subcouncil 4 resolved that the Proposed Lease of a Portion of Public Street, being a Portion of Remainder Erf 8875 Goodwood, corner of Epping Avenue and Hadley Crescent, Riverton, Elsies River: Epping Assembly of God Church BE APPROVED, subject inter alia to the following conditions, that;

a.  A market rental of R1 650 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable. The monthly rental is to escalate at 8% per annum compounded annually commencing 1 September 2019 until 31 March 2020 and thereafter at 6% per annum;
 
b.  The rental will escalate at 6% per annum;
 
c.  The lease will endure for a period of ten years;
 
d.  The property will be used for parking purposed only;
 
e.  Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;
 
f.   Subject to compliance with any other statutory requirements;
 
g.  No compensation will be payable for any improvement made to the property.