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RESOLVED that:
It is recommended that the lease of portion of Erf 42000 Cape Town situated at
Bridgeway, Crawford shown hatched and lettered AB and curve CDEF on the
attached sketch STC 3345 marked annexure A, in extent approximately 15 m²,
to Dram Property Holdings Pty Ltd, owner of Erf 43881 Cape Town or its
successors in title, be approved subject to inter alia the following conditions,
that:
a) A market rental of R150.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;
b) The monthly rental shall escalate at 8% per annum compounded annually
on a pro rata basis commencing from date of this valuation, 01 November
2019 until 31 March 2020. Thereafter as from 1 April 2020 the monthly
rental will escalate at 6% per annum;
c) Beneficial occupation of R150.00 per month, escalating at 8% per annum
be charged as from 2019-11-01 until 31 March 2020, thereafter, the escalated beneficial occupational rental will escalate at 6% per annum until such time as the lease agreement is signed;
d) The lease will endure for a period of ten years, subject to a rental review after a
period of 5 years;
e) The property be used for minor encroachment purpose only;
f) Subject to such further conditions to be imposed by the Director:
Property Management in terms of her delegated authority;
g) Subject to compliance with any other statutory requirements
h) No compensation will be payable for any improvement made to the property.
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