Subcouncil resolution details
Subcouncil 24
Agenda item no
24SUB 6/6/2019
Subject
PROPOSED LEASE OF PUBLIC STREET BEING A PORTION OF ERF 6 FIRGROVE, CORNER OF SCHOOL STREET AND DERDE STRAAT FIRGROVE: BLIZZARD TRADING
Meeting date
Thursday, June 13, 2019
Resolution
Approved
Date closed
Monday, June 24, 2019
Resolution detail
Subcouncil 24 supports the recommendation that:
It is recommended that the lease of public street being a portion of erf 6 Firgrove, corner of School Street and Derde Straat, Blizzard Trading Cc, shown lettered ABCDE on the attached plant ET 697 marked Annexure A, in extent approximately 956 m2, to Blizzard Trading CC or its successors in title, be approved subject to inter alia the following conditions, that:
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A tariff rental of R6000 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
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The monthly rental will be adjusted on the basis of 8% per annum, compounded annually. Accordingly, the above recommended rental is to be adjusted as from 1 March 2019.
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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, subject to a rental review after the initial five years.
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The property be used for storage and 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.
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Action: Raafiq Kolia |
