Subcouncil 16

Resolution detail

UNANIMOUSLY RESOLVED to RECOMMEND that the lease of city land being a portion of Erf 2015 Green Point situated at Surrey Place, Mouille Point, shown hatched and lettered ABCDEFG on the sketch STC 2722v2 marked Annexure A attached to the report, in extent approximately 293m², to Two Oceans Beach owner of Erf 1761 Green Point or its successors in title, BE APPROVED subject to inter alia the following conditions, that: a) A market related rental of R14 500 per month excluding VAT of 14% where applicable, being R2 030 (in total – R16 530) be payable; the monthly rental is to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis commencing as from 01 June 2016. Rental will be reviewed after 5 years. 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 outdoor seating 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 for any improvement made to the property.