Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND that: 1. the lease of city land being Erf 11520 and a portion of Erf 11519 Cape Town situated at the corner of Albert Road and Dublin Street, Woodstock shown hatched and lettered ABCDE on the sketch STC 2384v0 marked Annexure A attached to the report, in extent approximately 585 m², to HI Adams and Sons or its successors in title BE APPROVED subject to inter alia the following conditions that: a) A market related rental of R5 900 per month excluding VAT of 14% where applicable, being R826 (in total – R6 726) be payable; the monthly rental is to be adjusted on the basis of 8% per annum as from 01 May 2014. b) The rental will escalate at 8% per annum; c) The lease will endure for a period of 10 years; d) The property be used for storage purposes only; e) Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority; f) Subject to compliance with any other statutory requirements; g) No compensation will be payable from any improvement made to the property. 2. On conclusion of the lease, the applicant be approached to determine his/her interest in buying the land.