Subcouncil 7

Resolution detail

RESOLVED TO RECOMMEND:
 
It is recommended that the lease of a portion of Public Street, being a portion of Remainder Erf 596 Durbanville situated at the corner of Vrede and Main Roads Durbanville, shown hatched and lettered ABCDEFGHJK on Plan TA 862v0 marked Annexure A (agenda page 288), in extent approximately 44m², to Anglo African Estates (Pty) Ltd, owner of Erf 4401 Durbanville or its successors in title, be approved, subject to inter alia the following conditions:

a)A market rental of R1 000 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;

b)     The monthly rental is to be adjusted on the basis of 8% per annum compounded annually commencing 2 months from date of this valuation, i.e. from 1 January 2019 until 2020-03-31 and thereafter at 6% per annum.  Accordingly, the above recommended rental is effective and payable as from 2019-01-01.

c)     The proposed lease term is for a period of 10 years and is to be reviewed after a period of 5 years.

d)     The property be used for wheel chair ramp and steps purposes 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 improvements made to the property.