Subcouncil resolution details
Subcouncil 11
Agenda item no
11SUB 16/5/2023
Subject
PROPOSED LEASE OF PORTION OF PUBLIC STREET, PORTIONS OF ERF
40554 CAPE TOWN, BOUNDED BY WILLIAM ARENDSE ROAD, CHROMITE
ROAD AND BELMORE AVENUE, PENLYN ESTATE, ATHLONE FOR
PARKING AND MINOR BUILDING ENCROACHMENT PURPOSES: BEDSIM
PROPERTIES
Meeting date
Wednesday, May 17, 2023
Resolution
Approved
Date closed
Monday, May 29, 2023
Resolution detail
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RESOLVED |
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It is recommended that the lease of a portion of Public Street, portions of Erf
40554 Cape Town bounded by William Arendse Road, Chromite Road and
Belmore Avenue, Penlyn Estate, Athlone shown hatched and lettered ABC and
DEFGH on the attached plan 130000294 marked annexure A, in extent
approximately ± 3 and 117 m², to Bedsim Properties or its successors in title, be
approved subject to inter alia the following conditions:
a) A market rental of R4 700.00 per month inclusive of rates and excluding VAT
calculated at the rate applicable at the time of transaction be payable;
b) The monthly rental to be adjusted on the basis of 6% per annum
compounded annually commencing 2 months from date of valuation.
Accordingly, The above recommended rental is effective and payable as
from 2020-10-01;
c) The proposed lease term is for a period of 10 (ten) years and is to be
reviewed after a period of 5 (five) years;
d) The property be used for parking and minor building encroachment purposes
only;
e) Subject to such further conditions to be imposed by the Director: Property
Management in terms of his/her delegated authority;
f) Subject to compliance with any other statutory requirements;
g) No compensation will be payable for any improvement made to the property. |
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Action: Mandy Taylor |
