Subcouncil 16

Resolution detail

Cllr Bryant proposed the addition of a condition as to 24 hours security to prevent illegal access and squatting at the site. UNANIMOUSLY RESOLVED that it BE RECOMMENDED that the lease of City land, portions of Erven 1416, 1417 and 1718 Cape Town and Roadway, bounded by Buitengracht, Bain and Stanley Streets, Cape Town, shown hatched and lettered ABCDEFGH curve J on the sketch STC 2862v1 marked annexure A attached to the report, in extent approximately 2839m², to V& A Waterfront Holdings (Pty) Ltd, owner of Erven 1389, 1390 and 1391 Cape Town or their successors in title, BE APPROVED subject to inter alia the following: a) A market rental of R52 900 per month excluding VAT of 14% where applicable, being R7 406 (in total – R60 306) be payable; b) The lease will endure for a period of ten years, the first 3 years being fixed and not subject to the termination clause; c) The rental will escalate at 8% per annum; d) The property be used for parking 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 for improvement made to the property. h) The provision of 24 hours security at the site to prevent illegal access and squatting.