Subcouncil 3

Resolution detail

It is recommended that the lease of a portion of City land, being a portion of Erf
4275 Montague Gardens, situated at 50 Summer Greens Drive, Summer Greens shown hatched and lettered ABCDEFGHJKLM on the attached sketch marked Annexure A, in extent approximately 4.4m², to Rich Rewards Leasing (Pty) Ltd, be approved subject to inter alia the following conditions, that:
 
a)    A City approved rental of R5 056,20 per month (exclusive of electricity and VAT) where applicable be payable;
 
b)    The rental will escalate at 6% per annum;
 
c)    The lease will endure for a period of 10 years, subject at any time to 2 months’ notice of termination;
 
d)    The proposed leased area to be used for telecommunication infrastructure purposes only;
 
e)    Subject to such further conditions imposed by the Director: Property Transactions in terms of his delegated authority;
 
f)      Subject to compliance with any other statutory requirements;
 
g) No compensation will be payable for any improvement made to the property.