Subcouncil resolution details
Subcouncil 15
Agenda item no
15SUB 10/8/2023
Subject
PROPOSED LEASE OF PORTION OF PUBLIC STREET, PORTION ERF
21203-RE CAPE TOWN, BETWEEN NYMAN STREET AND DAPPER ROAD,
KENSINGTON, CAPE TOWN FOR PARKING PURPOSES: SHG FAMILY
TRUST.
Meeting date
Wednesday, August 16, 2023
Resolution
,Comment
Date closed
Wednesday, August 30, 2023
Resolution detail
It was RESOLVED that Subcouncil 15 RECOMMEND that the lease of portion of public street, portion of erf 21203-RE Cape Town, situated between Nyman Street and Dapper Road, Kensington, Cape Town, shown hatched and lettered ABCD on the plan 130008529, attached to the report as Annexure A, in extent approximately 1128m2 to SHG Family Trust or its successor in title, be approved subject to inter alia the following conditions, that:
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A market rental of R15 200.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
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The monthly rental shall escalate at 6% per annum compounded annually commencing 2 months from date of the valuation, i.e. as from 01 June 2022;
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The above recommended rental is effective and payable as from 01 June 2022;
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The lease will endure for a period of 10 (ten) years; subject to a rental review after a period of 5 years;
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The property be used for parking purposes only;
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Subject to such further conditions to be imposed by the Director: Property Management in terms of his delegated authority;
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Subject to compliance with any other statutory requirements;
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That the objections not be upheld;
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The lessee beautify the leased portion of land with soft landscaping and greenery.
ACTION: N VANQA / SECRETARIAT