Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that the lease of Public Street, erven 9412, 60, 88 and a portion of erf 89 Cape Town, situated in Highfield Street, Green Point shown hatched on the sketch STC 3314 marked annexure A, attached to the report, in extent approximately ±1 096m², to Highfield Street Home Owners Association or their successors in title, BE APPROVED subject to inter alia the following conditions:
 

a) A market rental of R14 400.00 per month inclusive of rates and excluding VAT calculated per month for a period of 10 years.

 
b)     The monthly rental to be adjusted on the basis of 6 % per annum compounded annually on a pro rata basis commencing from 01 August 2020;
 
c)     The lease will endure for a period of ten years. The rental to be reviewed after five years.
 
d)     The property to be used for parking and security purposes only;
 
e)     Lease area to be restricted to 12 parking bays.
 
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;