Subcouncil resolution details
Subcouncil 16
Agenda item no
16SUB 15/5/2021
Subject
PROPOSED LEASE OF PORTION OF CITY LAND, PORTION OF PUBLIC STREET, ABUTTING ERF 2093 CAPE TOWN, BREE STREET, CAPE TOWN FOR STOEP AND ACCESS PURPOSES: BC88 INVESTMENTS (PTY) LTD
Meeting date
Monday, May 17, 2021
Resolution
Approved
Date closed
Thursday, May 27, 2021
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:
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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.
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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.
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The lease will endure for a period of ten years with a rental review after 5 (five) years;
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The property be used for stoep and access purposes only;
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Subject to such further conditions to be imposed 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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No compensation will be payable for any improvement made to the property.