Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of a portion of City Land, Unregistered State Land, abutting Erf 2160 Cape Town, Loop Street, Cape Town, shown hatched  and lettered ABCD on the attached plan 130009598 marked annexure A, in  extent approximately ±10m² to Dormell Prop 142 (Pty) Ltd (Aninke Leandi Van  Antwerpen) or its successors in title, be approved subject to inter alia the  following conditions:
 
a)    A market rental of R1 300.00 per month inclusive of rates and excluding  VAT calculated at the rate applicable at the time of transaction be payable;
 
b)    The monthly rental shall escalate at 6% per annum compounded annually   commencing 6 months from date of valuation i.e. 2023-06-01;
 
c)    The lease will endure for a period of ten (10) years. The rental to be   reviewed after a period of five (5) years;
 
d)    The property to be used for outdoor seating purposes only;
 
e)    Subject to such further conditions to be imposed by the Director: Property   Management in terms of his delegated authority;
 
f)      Subject to compliance with any other statutory requirements;
 
g)    No compensation will be payable for any improvement made to the  property. 


 ACTION: M TAYLOR/  C DAVIS