Subcouncil resolution details
Subcouncil 15
Agenda item no
15SUB 9/5/2023
Subject
PROPOSED LEASE OF PORTION OF RAILWAY RESERVE, PORTION OF
ERF 32438 CAPE TOWN, OFF HAWKINS AVENUE, EPPING, CAPE TOWN
FOR PARKING AND STORAGE PURPOSES: GLAXOSMITHKLINE
CONSUMER HEALTHCARE SOUTH AFRICA (PTY) LTD
Meeting date
Wednesday, May 17, 2023
Resolution
,Recommend
Date closed
Wednesday, May 24, 2023
Resolution detail
It was RESOLVED that Subcouncil 15 RECOMMENDED that the lease of Portion of Railway Reserve, Portion of Erf 32438 Cape Town situated off Hawkins Avenue, Epping, Cape Town, shown hatched and lettered ABCDEFGHJKLMNPQR on the plan marked 130009090 attached to the report as annexure A in extent approximately 3950m², to Glaxosmithkline Consumer Healthcare South Africa (Pty) Ltd or its successors in title, be approved subject to inter alia the following conditions, that:
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A market rental of R43 450.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
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The monthly rental shall escalate at 6% per annum compounded annually on a pro rata basis commencing 2 months from date of valuation i.e. as from 01 November 2022;
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The above recommended rental is effective and payable as from 01 November 2022;
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The lease will endure for a period of 10 (ten) years; subject to a rental review after a period of 5 years;
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The property be used for parking & storage purposes only;
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Subject to such further conditions to be imposed by the Director: Property Management in terms of his/her delegated authority;
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Subject to compliance with any other statutory requirements.
ACTION: SECRETARIAT / N VANQA
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