Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of a Portion of Public Street, Portion of Unregistered State Land, abutting Remainder Erf 531 Green Point, situated at
Main Road, Green Point, Cape Town as shown hatched and lettered ABCD on the attached plan 130003036 in extent ± 35 m², to Giovanni Esposito or his successor in title, be approved subject to inter alia the following conditions, that:


a) A market rental of R12 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 May 2024;
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 enclosed seating for restaurant 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.