RESOLVED
It is recommended that the lease of a portion of City Land, portion of Erf 109586
Cape Town, situated off Dulwich Road, Rondebosch, Cape Town shown
hatched and lettered ABCD on the attached plan 130008734 marked annexure
A, in extent approximately ±49 m² to Renier Venter and Lauren Claire Peters or
their successors in title, be approved subject to inter alia the following
conditions:
a) A market rental of R1 650.00 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 on a pro rata basis commencing 6 months from
date of the valuation, i.e. 2023-10-01;
c) The market rental is valid for a period of 3 years from date of valuation (i.e
2026-03-31) provided that the abovementioned escalation is applied;
d) The proposed lease term is for a period of 10 (ten) years, subject to a
rental review after a period of 5 (five) years;
e) The property be used for parking purposes only;
f) Subject to such further conditions to be imposed by the Director: Property
Transactions in terms of his delegated authority;
g) Subject to compliance with any other statutory requirements;
h) No compensation will be payable for any improvement made to the subject
property.
Action: Mandy Taylor
