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Subcouncil resolution details

Subcouncil resolution details

Subcouncil 16

Agenda item no

16SUB 12/10/2024

Subject

PROPOSED LEASE OF PORTIONS OF A PUBLIC STREET, PORTIONS OF ERVEN 15252 AND 15253 CAPE TOWN, CARRIAGE STREET, SALT RIVER, CAPE TOWN FOR ACCESS PURPOSES: MEDITERRANEAN SHIPPING COMPANY DEPOTS (PTY) LTD.

Meeting date

Monday, October 14, 2024

Resolution

,Recommend

Date closed

Tuesday, October 22, 2024

Resolution detail

RESOLVED to RECOMMEND that the lease of portion of City land, Portions of a Public Street, Portions of Erven 15252 and 15253 Cape Town, Carriage Street, Salt River, Cape Town as shown hatched and lettered ABCD on the attached plan 130002854 in extent approximately 1 884 m² to Mediterranean Shipping Company Depots (Pty) Ltd or its successors in title BE SUPPORTED, subject inter alia to the following conditions:
 
a)    A market rental of R14 250.00 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 December 2023;
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 access 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.

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