Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of a portion of Public Street, Unregistered State Land, abutting Erf 159027 Cape Town, Buitengracht Street, Cape Town, shown hatched and lettered ABCD on the attached plan 130010090 marked annexure A, in extent approximately ±9 m² to Heritage One Body Corporate or its successors in title, BE APPROVED subject to inter alia the following conditions:
 
a) A market rental of R950.00 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 6 months from date of valuation i.e. 2024-09-01;
c) The lease will endure for a period of ten (10) years. The rental to be reviewed after a period of five (5) years;
d) The property to be used for outdoor seating 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;
g) No compensation will be payable for any improvement made to the property.