Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND that the lease of portion of public open space, being a portion of Erf 1056 situated at Green Point, shown bordered grey and hatched lettered ABC¹D¹QRSTUVWXYZA¹B¹ on the plan LIS912v1 marked Annexure A attached to the report, in extent approximately 3 131m², to Newinvest 12 (Pty) Ltd, BE APPROVED subject to inter alia the following conditions, that: a) A market rental of R85 000 per month exclusive of 14% VAT and rates. b) The lessee shall pay all arrears as per unresolved parking and drive through agreement amounting R484 201, 27 for the period up to 31 December 2016 and an additional R14 624.31 per month from January 2017 to June 2017. c) The lease will endure for a period of two years and eleven months; d) The rental will be escalated annually at 8%; e) The property be used for restaurant and parking purposes only; f) Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority; g) Subject to compliance with any other statutory requirements; h) No compensation will be payable for any improvement made to the property.