Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of  City Land, Portion of Public Place, being Erven 188, 189 and 2301 Camps Bay situated at corner of Meadway and Victoria Roads, Camps Bay, Cape Town, shown hatched and lettered ABCDEFGHJKLMNOPQRSTUV on the plan STC2933 marked annexure A attached to the report, in extent approximately 15 589m², to Camps Bay Club or its successors in title, BE APPROVED subject to inter alia the following conditions, that:
 

1. A market rental of R9 900.00 per month excluding VAT calculated at the rate applicable at the time of transaction be payable;

2. The above rental excludes any municipal services and operational costs;

3. The monthly rental shall escalate at 6% per annum compounded annually commencing from 07 December 2021;

4. The above recommended rental is effective and payable as from 07 December 2021;

5.   The lease will endure for a period of 10 (ten) years; subject to a rental review after a period of 2 years;

6. The property be used for sporting purposes only;

7. No further sub-leases to be permitted without the City’s consent;

8. Consent to be obtained for any extensions, improvements, advertising, sub-leases and any further commercial activities on the property and in such instance, the rental to be reviewed, if deemed applicable;

1. The Club  is responsible for full maintenance, good order, behaviour and government of land and buildings;

10. The Club must submit their audited financial statements to the City on an annual basis;

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

•   Subject to compliance with any other statutory requirements.