Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of a portion of Public Street, portion of Erf 1138 Vredehoek situated at Chelmsford Road, Vredehoek, Cape Town shown hatched and lettered ABC on the plan 130009110 marked annexure A attached to the report, in extent approximately ±21 m², to Sectional Title: Bloomfield Court or their successors in title, BE APPROVED subject to inter alia the following conditions:
 

1. A market rental of R700.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;

2. The monthly rental to be adjusted on the basis of 6% per annum compounded annually commencing 6 months from date of valuation i.e. 2023-01-01;

3. The proposed lease term is for a period of 10 (ten) years;

4. The property be used for parking and access purposes only;

5. Subject to such further conditions to be imposed by the Director: Property Management in terms of his/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.