Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of City Land, Portions of a Public Street, Portions of Erven 9391, 9402, 9552 and 1379 Cape Town, situated at Hospital Street, Cape Town as shown hatched on the attached plan 130009517 in extent approximately 1 291m²( for parking, gardening and security) and 20m² (for balcony overhang/encroachment) respectively, to Luhlaza Properties (Pty) Ltd
or its successors in title, be approved subject to inter alia the following
conditions, that:


a) A total market rental of R24 400.00 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 2 months from date of valuation i.e. as from 01 May 2024;
c) The lease will endure for a period of 10 (ten) years, subject to a rental
review after a period of 5 (five) years;
d) The property be used for parking, gardening and security and balcony
encroachment purposes only;
e) Subject to such further conditions to be imposed by the Director: Property
Transactions in terms of his delegated authority;
f) Subject to compliance with any other statutory requirements.