Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that the lease of City land being, portions of Public Street, being portions of Erven 133 &145 Clifton, situated at Kloof Road, Clifton, shown hatched and lettered ABCD on the plan STC 3276 marked annexure A attached to the report, in extent approximately 65m², to SMBT Limited, owner of Erf 343 Clifton or its successors in title, BE APPROVED subject to inter alia the following conditions:
 
 
 

1. A market rental of R2250.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable.

2. The monthly rental shall escalate at 6% per annum compounded annually on a pro rata basis commencing 6 months from date of valuation i.e. as from 1 March 2021. Accordingly, the above recommended rental is effective and payable as from 01 March 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 security, landscaping and possible parking 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.