Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of a Portion of a Public Street, Unregistered  State Land, abutting Erf 27414 Cape Town, situated at Main Road, Observatory, Cape Town shown hatched and lettered ABCD on the attached plan 130009303 marked annexure A, in extent approximately 615 m², to Growthpoint Student  Accommodation Holdings or their successors in title, be Approved subject, to inter alia the following conditions, that:
 
a) A tariff rental of R 4 072.00 per annum including VAT calculated at the rate
    applicable at the time of transaction be payable. Rates not applicable;
b) The lease will endure for a period of 10 (ten) years;
c) The rental will be adjusted annually in terms of the rental tariff structure as
     approved by Council;
d) The property be used for security purposes only;
e) Subject to such further conditions imposed by the Director: Property
    Management in terms of his/her delegated authority;
f) Subject to compliance with any other statutory requirements