Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that the lease of a Portion of Public Street, abutting erf 2093 Cape Town situated on Bree Street, Cape Town, shown hatched and lettered ABCD on the sketch 130008196 marked annexure A attached to the report, in extent approximately ±19 m², to BC88 Investments (Pty) Ltd, owners of Erf 2093 or their successors in title, BE APPROVED subject to inter alia the following conditions:
 

1. A market rental of R200.00 per month inclusive of rates and excluding VAT. The monthly rental to be adjusted on the basis of 6 % per annum compounded annually commencing from 01 August 2021.

2. Beneficial occupation of R200.00 per month, escalating at 6 % per annum to be charged as from 01 August 2021 until such time as the lease is signed.

3. The lease will endure for a period of ten years with a rental review after 5 (five) years;

4. The property be used for stoep and access purposes only;

5. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;

6. Subject to compliance with any other statutory requirements;

7. No compensation will be payable for any improvement made to the property.