Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of City land and Public Street, being portions of Erven 5667, 5668, 5619 - 5632, 5635 & 5636 Cape Town  situated between Roeland and Bloemhof Street, Cape Town, shown hatched and lettered ABCDEFGHJK and LMNPQR on the plan 130008489 marked annexure A attached, in extent approximately 1883m² and 3507m² respectively, to FLM SA (Pty) Ltd or its successors in title, BE APPROVED subject to inter alia the following conditions, that:
 
 

1. A market rental of R149 000.00 per month exclusive of rates and VAT calculated at the rate applicable at the time of transaction be payable.

 
 
       b)  The monthly rental of R149 000.00 per month shall escalate at 6% per    annum compounded annually on a pro rata basis 
             commencing 2    months from date of the valuation, i.e. as from 01 May 2022;
 

3. The above recommended rental is effective and payable as from 01 May 2022;

 

4. The lease will endure for a period of 5 (five) years, with a six (6)  months’ cancellation notice period;

 

5. The above rental excludes all municipal costs i.e. rates, electricity,  cleaning, security, water etc;

 
         f)       No further sub-leases will be permitted without the City’s consent;
 

7. Consent to be obtained for any extensions, improvements, advertising  and any further commercial activities on the property, in such instance, the rental to be reviewed;

 
        h)      Lessee be responsible for full maintenance of land and buildings;
 
        i)        The property be used for commercial purposes (operating a Fruit &   Veg and allied line store and parking) only;
 

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

 

11. Subject to compliance with any other statutory requirements;