Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND that the lease of portion of public street, being a portion of Erf 152670 Cape Town, corner of Bree and Church Streets shown hatched and lettered ABCDEFGHJK, LMNPQRST, VWXY on the sketch STC 3206 marked annexure A attached to the report, in extent approximately 74 m² in total, to Nordic Light Properties (PTY) Ltd, owner of Erf 9293 – Cape Town or their successors in title, BE APPROVED subject to inter alia the following conditions, that:
 

1. A market rental of R7300.00 per month excluding VAT calculated at the rate applicable at the time of transaction be payable.
    
2. The rental will escalate at 8% per annum;
    
3. The monthly rental is to be adjusted on the basis of 8% per annum compounded annually.  The rental is to be reviewed after 5 years.  Beneficial occupation of R7300.00 per month (inclusive of rates and exclusive of VAT) is payable as from 2019-01-01 until date the lease contract has been signed by Council.
    
4. The lease will endure for a period of ten (10) years;
    
5. The property be used for outdoor seating purposes only;
    
6. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;
    
7. Subject to compliance with any other statutory requirements;
    
8. No compensation will be payable for any improvement made to the property.