Subcouncil resolution details
Subcouncil 15
Agenda item no
15SUB 39/11/2019
Subject
PROPOSED LEASE OF A PORTION OF RAILWAY RESRVE, PORTION OF ERF 24192 CAPE TOWN, MORNINGSIDE AND BAYETTE ROADS, NDABENI FOR PARKING, LOADING AND OFF-LOADING PURPOSES: SS SUNRISE BUILDING (THE NEW CLOTHING CORPORATION)
Meeting date
Wednesday, November 20, 2019
Resolution
,Recommend
Date closed
Monday, November 25, 2019
Resolution detail
Not delegated: For Decision: The Director: Property Management
It was RESOLVED to RECOMMEND that the lease of portion of railway reserve, portion of erf 24192 Cape Town, Morningside and Bayette Roads, Ndabeni shown hatched and lettered ABCDEFG on sketch STC 3283 marked annexure A, of the report, in extent approximately 802m² in total, to SS Sunrise Building (The New Clothing Corporation), owner of Erf 25138 – 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 R 9,600.00 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 is to be adjusted on the basis of 8% per annum compounded annually. The rental is to be reviewed after 5 years. Beneficial occupation of R9,600.00 per month (inclusive of rates and exclusive of VAT) is payable as from 2019-02-01 until date the lease contract is signed by Council.
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The lease will endure for a period of ten (10) years, with a five (5) year rental review.
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The property be used for parking, loading and off- loading 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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All outstanding accounts with the City of Cape Town must be settled
ACTION: M GRIESSEL / P DAVIS
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