Subcouncil resolution details
Agenda item no
PROPOSED LEASE OF PORTION OF PUBLIC STREET, PORTION OF REMAINDER ERF 87 GREEN POINT, BETWEEN HIGH LEVEL ROAD AND JOUBERT STREET (JOUBERT STEPS), GREEN POINT FOR PARKING AND GARDENING PURPOSES: MAZOLI COURT BODY CORPORATE
Monday, August 23, 2021
Sunday, September 05, 2021
RESOLVED to RECOMMEND that the lease of portion of public street, being a portion of remainder erf 87 Green Point situated between High Level Road and Joubert Street (Joubert Steps) – Green Point shown hatched and lettered ABCDEFG on the sketch STC 1925v1 marked annexure A, attached to the repordt in extent approximately 156m², to Mazoli Court Body Corporate, owner of Erf 85 Green Point or it’s successors in title, BE APPROVED subject to inter alia the following conditions:
- A market rental of R1 700.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
- The monthly rental to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis commencing from 01 January 2019 until 31 March 2020. Thereafter the escalated rental amount will escalate at 6% per annum.
- The lease will endure for a period of ten (10) years, subject to a rental review after 5 years.
- The property be used for gardening and parking purposes only;
- Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;
- Subject to compliance with any other statutory requirements;