Subcouncil 19

Resolution detail

RECOMMENDED that, for the reasons set out in this report, that Council review and amend its resolution C23/06/08 attached as annexure “B” specifically with regard to paragraph (a) and (b) thereof, insofar as it relates, inter alia, to the valuation quantum for transfer and acquisition and rate of escalation, with the remaining provisions of such Council resolution continuing to be of full force and effect, in order for it to now read: It is recommended that: (a)Council approve the transfer of portions of erf 140 Simon’s Town shown hatched and lettered ABCDE and FGH in extent approximately 498 m² and 17 m² respectively and portion of erf 236 Simon’s Town shown hatched and lettered JKLM in extent approximately 12 m² on the attached sketch marked annexure “A” of the report to Glencairn Hotel (Pty) Ltd, or successors in title, subject to the following: (i)That the property be sold at a current market - related sales price of R1 200 000 excluding VAT at the rate applicable at date of registration and exclusive of all costs; (ii)That the sales/purchase price shall escalate at 8% per annum compounded annually on a pro rata basis commencing 6 months after date of valuation (i.e. as from 2018-06-01) until date of registration; (iii)This valuation is to be reviewed if not implemented within 18 months from date of valuation (i.e. by 2019-06-01); (iv)Subject further to terms and conditions to be imposed by the Director: Property Management in terms of her delegated power, inter alia: (aa)All costs related to the transaction shall be borne by the applicant (bb)Servitudes to be registered to protect the repective services traversing the subject properties (cc)Subject to compliance with all other statutory requirements (b)Council approve that the portion of erf 235 Simon’s Town shown lettered HMJ in extent approximately 33 m² on the attached sketch marked annexure “A” to the report, be acquired from Glencairn Hotel (Pty) Ltd for road purposes for the sum of R75 000 excluding VAT at the rate applicable at date of registration and excluding costs. ACTION: SECRETARIAT / SIMEON CARELSE