Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that:
 

1. Council resolve that, in terms of section 14 of the Local Government: Municipal Finance Management Act, Act 56 of 2003, the subject property being a portion of Remainder Erf 89 Fresnaye, in extent 134m² and a portion of Remainder Erf 728 Fresnaye, in extent 14m² situated off Alexandra Avenue and De Wet Road, Fresnaye, shown  hatched by the figure lettered ABCD and EFGHJ, on the Plan SZC 1425 (Annexure “A”) attached to the report is not required to provide the minimum level of basic municipal services; and has considered the fair market value of the asset and the economic and community value to be received in exchange for the asset;

 

2. Council grants in-principle approval in terms of regulation 5(1)(b)(ii) of the Municipal Asset Transfer Regulations for the transfer of a portion of a portion of Remainder Erf 89 Fresnaye, in extent 134m² and a portion of Remainder Erf 728 Fresnaye, in extent 14m² situated off Alexandra Avenue and De Wet Road, Fresnaye, shown by the hatched by the figure lettered ABCD and EFGHJ, on the attached Plan SZC 1425 (Annexure “A”);  

 
 

3. Council in terms of section 4 of the City of Cape Town Immovable Property By-Law, 2015, approve the closure of the subject property being a portion of Remainder Erf 728 Fresnaye, in extent 14m² situated off Alexandra Avenue and De Wet Road, Fresnaye, shown by the hatched by the figure lettered ABCD and EFGHJ, on the attached Plan SZC 1425 (Annexure “A”);  

 

4. a portion of Remainder Erf 89 Fresnaye, in extent 134m² and a portion of Remainder Erf 728 Fresnaye, in extent 14m² situated off Alexandra Avenue and De Wet Road, Fresnaye, shown by the hatched by the figure lettered ABCD and EFGHJ, on the attached Plan SZC 1425 (Annexure “A”) to Soko Properties (Pty) Ltd, or its successor(s) in title, be approved, subject to the following conditions, that:

 

1. A purchase price of R830 000 excluding VAT be payable;

 

2. The purchase price is to escalate at 5% per annum compounded annually on a pro-rata basis commencing from date of valuation i.e. from 1 August 2022 until date of registration;

 

3. That the market value be reassessed if the transaction is not approved within 36 months from date of valuation, i.e. 31 July 2025.

 

4. An occupational rental of R400 per month (excluding VAT) shall be payable as from 01 February 2018, escalating at 8% per annum until 31 March 2020; thereafter the escalated rental will further escalate at 6% per annum until date of registration.

 

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

 
                    aa)       that all further statutory and land use requirements be complied with;
 
                   bb)       that Remainder Erf 89 Fresnaye and Remainder Erf 728 Fresnaye be subdivided to allow for the portions to be purchased                                 and consolidated with the Purchaser’s Erf 1259 Fresnaye
 
                   cc)        that all costs related and incidental to the transaction be borne by the purchasers.
 
                  dd)       The registration of a 2m wide servitude to be registered over the watermain traversing the subject portion of Remainder Erf                                 89 Fresnaye, in favour of the City.
 
                  ee)       The registration of a servitude right of way over the subject portion of remainder Erf 89 Fresnaye, in favour if the abutting                                    property Erf 1586 Fresnaye.
 

6. That the objection not be upheld.

 
ACTION:  MARYLLEE CARELSE