Subcouncil 4

Resolution detail

That Subcouncil 4 resolved that the Lease City Land, Being Portions of Erven 7032, 7064, 7065, 7066, 7067, 7068 & 7069 situated at Goodwood, shown hatched and lettered ABCD, EFGH, JKLM, NPQRST on the attached sketch TA 725v1 marked annexure A, in extent approximately 150m², to Cadiz Property Investment Trust owner of Erven 27457 & 22386 Goodwood or his successors in title, BE APPROVED subject to inter alia the following conditions: 

a.  Market rental of R2 800.00 per month inclusive of rated and exclusive of rated and excluding VAT calculated at the rate applicable at the time of transaction be payable; 

b.  The rental will escalate at 8% per annum, effective and payable as from 2019-07-01; 

c.  The lease will endure for a period of ten years, rental to be reviewed after 5 years; 

d.  The property be used for parking and regularising of an existing encroachment 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 any improvement made to the property.