Subcouncil 16

Resolution detail

 RESOLVED to RECOMMEND It is recommended that the lease of Public Street, erf 2875 Oranjezicht, situated in Constantia Road, Gardens shown hatched on the attached sketch STC 2320v1 marked annexure A, in extent approximately 54m², to Buxton Heights Body Corporate or their successors in title, be approved subject to inter alia the following conditions:
 

1. A market rental of R900.00 per month inclusive of rates and excluding VAT calculated per month for a period of 10 years.

2. The monthly rental to be adjusted on the basis of 6 % per annum compounded annually on a pro rata basis commencing from 01 October 2020. Accordingly, the above recommended rental is effective and payable as from 1 October 2020;

3. The lease will endure for a period of ten years. The rental to be reviewed after five years.

4. Beneficial occupation of R900.00 per month, escalating at 6 % per annum be charged as from 01 October 2020 until such time as the lease agreement is signed.

5. The property to be used for a boundary wall encroachment, garage and gardening purposes only;

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

7. Subject to compliance with any other statutory requirements;

8.  No compensation will be payable for any improvement made to the property;