Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND that the lease of portion of public street, being a portion of remainder erf 87 Green Point situated between High Level Road and Joubert Street (Joubert Steps) – Green Point shown hatched and lettered ABCDEFG on the sketch STC 1925v1 marked annexure A, attached to the repordt in extent approximately 156m², to Mazoli Court Body Corporate, owner of Erf 85 Green Point or it’s successors in title, BE APPROVED subject to inter alia the following conditions:
 
 

1. A market rental of R1 700.00 per month inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction be payable;

2. The monthly rental to be adjusted on the basis of 8% per annum compounded annually on a pro rata basis commencing from 01 January 2019 until 31 March 2020. Thereafter the escalated rental amount will escalate at 6% per annum.

3. The lease will endure for a period of ten (10) years, subject to a rental review after 5 years.

4. The property be used for gardening and parking purposes only;

5. Subject to such further conditions to be imposed by the Director: Property Management in terms of her delegated authority;

6. Subject to compliance with any other statutory requirements;