Subcouncil 15

Resolution detail

It was RESOLVED that subcouncil 15 recommends that the lease of City Land, being portion of Erf 32443 Cape Town situated at Gunners Circle, Epping, Cape Town, shown hatched and lettered ABCDEFG on  plan 130009181 marked annexure A, attached to the report, in extent approximately 2123m², to Threson Industries (Pty) Ltd or its successors in title, be approved subject to inter alia the following conditions, that:
 

1. A market rental of R20 900.00 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 from 01 November 2022;

3. The above recommended rental is effective and payable as from 01 November 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. Allowance for establishment costs to be applicable for the first 5 years of the lease period only;

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

8. Subject to compliance with any other statutory requirements