Subcouncil resolution details
Subcouncil 3
Agenda item no
03SUB 18/9/2024
Subject
PROPOSED LEASE OF CITY LAND, BEING A PORTION OF REMAINDER ERF 20486 CAPE TOWN, SITUATED OFF SECTION STREET AND KOEBERG ROAD, BROOKLYN, CAPE TOWN: BRACKENFELL TRAILER HIRE (PTY) LTD
Meeting date
Thursday, September 19, 2024
Resolution
Noted
Date closed
Tuesday, October 01, 2024
Resolution detail
RECOMMENDATIONS FOR CONSIDERATION AND COMMENT BY THE RELEVANT SUBCOUNCIL:
It is recommended that the lease of City land, being a portion of Remainder Erf 20486 Cape Town, situated off Section Street and Koeberg Road, Brooklyn, Cape Town, shown hatched and lettered ABCDE on the attached plan 130008445v1 marked Annexure A, in extent approximately 795m2 , to Brackenfell Trailer Hire (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 R16 400 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 is to escalate at 6% per annum compounded annually commencing 2 months from date of valuation i.e. from 2024-07-01.
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The monthly rental is effectively and payable as from 2024-07-01.
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The proposed lease term is for a period of ten (10) years, with a review after five (5) years.
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The property be used for the storage of trailers for hiring purposes only.
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Subject to such further conditions imposed by the Director: Property Transactions in terms of delegated authority.
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Subject to compliance with any other statutory requirements.
h) No compensation will be payable for any improvement made to the property. . |
