Subcouncil resolution details
Subcouncil 15
Agenda item no
15SUB 11/8/2020
Subject
PROPOSED LEASE OF PUBLIC STREET ERVEN 16361 AND 149247 CAPE TOWN, BLACK RIVER PARKWAY, MAITLAND: MAITLAND EDGE PTY LTD
Meeting date
Wednesday, August 26, 2020
Resolution
Approved
Date closed
Wednesday, September 02, 2020
Resolution detail
Not Delegated: For Decision: Council
It was RESOLVED to RECOMMEND that the lease of portion of public street, being erven 16361 and 149247 Cape Town situated at Black River Parkway, shown hatched and lettered ABCDE on the plan STC 3593 marked as annexure A, attached to the report, in extent approximately 2 467 m2, to Maitland Edge Pty Ltd, owner of remainder erf 23851 Cape Town or his successors in title, be approved subject to inter alia the following conditions:
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A market rental of R9 400 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction payable. The monthly rental is to escalate at 6% per annum compounded annually commencing 1 April 2020. Rental to be reviewed after a period of 5 years.
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The rental will escalate at 6% 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 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 be payable for any improvement made to the property;
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The leased area is to be restricted to 26 parking bays as per the proposal. The rental is to be reassessed should the number of parking bays increase;
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All outstanding accounts with the City of Cape Town must be settled.
ACTION: SECRETARIAT / N VANQA
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