Subcouncil 15

Resolution detail

It was RESOLVED that that Subcouncil 15 recommend that the lease of portion of railway sliding, being portion of erf 32444 Cape Town and remainder erf 32597 Cape Town, off Gunners Circle, Epping Industria 1, Cape Town, shown hatched and lettered ABCDEFGHJ on the plan 130010068 marked annexure A, attached to the report, in extent approximately 1.26 hectares, to Master Tyre Properties Proprietary Limited or its successors in title, be approved subject to inter alia the following conditions that:
 

1. A market rental of R115 000.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;

2. The monthly rental shall escalate at 6% per annum compounded annually commencing 6 months from the date of valuation i.e. as from 01 June 2024;

3. The above recommended rental is effective and payable as from 01 June 2024;

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

5. The property be used for parking and storage only;

6. Subject to such further conditions to be imposed by the Director: Property Transactions in terms of his delegated authority;

7. Subject to compliance with any other statutory requirement.