Subcouncil 15

Resolution detail

It was RESOLVED that Subcouncil 15 recommends that the lease of Portion of City Land, Remainder Erf 21203 Cape Town, situated between Nyman Street and Dapper Road, Kensington, Cape Town, shown hatched and lettered ABCDEF on plan  130008952 marked annexure A, attached to the report,  in extent approximately 1205m² to K2013116231 (Pty) Ltd or its successor in title, be approved subject to inter alia the following conditions, that:
 

1. A market rental of R15 200.00 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 commencing 2 months from date of the valuation, i.e. as from 01 June 2022;

3. The above recommended rental is effective and payable as from 01 June 2022;

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

5. The property be used for parking purposes only;

6. Subject to such further conditions to be imposed by the Director: Property Management in terms of his/her delegated authority;

7. Subject to compliance with any other statutory requirements.

8. And further subject to the lessee be held responsible for the maintenance upkeep of the erf including tree planting and greenery;