Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that the lease of City land, portion of Public Street, being portion of Erf 1056 Green Point situated between Beach Road and Bay Road, Greenpoint, shown hatched and lettered ABCDEF on the plan 130006471 marked annexure A attached to the report, in extent approximately 51m², to Rola Rola Commercial Property Investments Pty Ltd, owner of Erf 2089 Green Point or its successors in title, BE APPROVED subject to inter alia the following conditions:
 
 
 

1. A market rental of R5 300.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable.

2. The monthly rental is to escalate at 6% per annum compounded annually on a pro rata basis commencing 01 June 2021;

3. The lease will endure for a period of 10(ten) years subject to a rental review after a period of 5 years;

4. The property be used for outdoor seating 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.