Subcouncil resolution details
Subcouncil 20
Agenda item no
20SUB 17/5/2019
Subject
PROPOSED LEASE OF PUBLIC STREET, BEING PORTIONS OF ERF 51963 CAPE TOWN, GARFIELD ROAD, CLAREMONT FOR PARKING PURPOSES: THE ZAHUR OSMAN INVESTMENT TRUST
Meeting date
Wednesday, May 22, 2019
Resolution
Recommend
Date closed
Wednesday, May 29, 2019
Resolution detail
RESOLVED TO RECOMMEND
Subcouncil Subcouncil 20 supports the recommendation that the lease of Public Street, being portion of Erf 51963 Cape Town situated at Garfield Road, Claremont, shown hatched and lettered AB and curve CDE on the attached sketch STC 3152 marked annexure A, in extent approximately 197m², The Zahur Osman Investment Trust, owners of Erf 55816 Cape Town, or their successors in title, be approved subject to inter alia the following Conditions, that:
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A market rental of R5000.00 per month, inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable, escalating at 8% per annum. The monthly rental is effective and payable as from 2018-10-01;
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The rental will escalate at 8% per annum;
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The lease will endure for a period of ten years;
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The property be used for parking purposes only;
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Subject to such further Conditions to be imposed by the Director: Property Management in terms of her Delegated Authority;
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Subject to compliance with any other statutory requirements;
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No compensation will be payable for any improvement made to the property.
Action: Sandisiwe Tshandu
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