Subcouncil 4

Resolution detail

RESOLVED TO RECOMMEND
                      
Subcouncil 4 resolved that the Proposed Lease of City Land, Erf 3113 Goodwood Abutting Applicant's Erven 3111 and 3112 Goodwood, Goulburn Street, Goodwood for Parking Purposes as shown hatched ABCD on the attached Plan No TA 906v1 marked Annexure A, in extent of approximately 508m², to Western Cape Government - Transport and Public Works BE APPROVED, subject inter alia to the following conditions, that;
 
a)         A market rental of R8 800, 00 per month be payable, including rates and excluding VAT;
b)         The lease will endure for a period of ten years, rental to be reviewed after 5 years;
c)         The monthly rental is to be adjusted on the basis of 6% per annum compound annually on a pro rata basis commencing 6 months
             from date of this valuation. According, the above recommended rental is to escalate as from 2019-05-01;
d)         The property may be used for parking purposed 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;
h)         The conditions set out in Annexure B to this report will be included in the lease agreement as special conditions.