Subcouncil 15

Resolution detail

It was RESOLVED that subcouncil 15 recommended that the lease of portion of Railway Siding, portion of erf 32435 Cape Town, situated off Fisher Avenue, Epping, Cape Town, shown hatched and lettered ABCDEFGHJKLMNPQR on the plan 130009382 marked annexure A, attached to the report, in extent approximately 3 298m² to Pioneer Voedsel Pty Ltd or its successors in title, be approved subject to inter alia the following conditions, that:
 
(a)          A market rental of R42 900.00 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 6% per annum compounded annually on a pro rata basis commencing 2 months from date of valuation i.e. as from 01 September 2023;
 
(c)          The above recommended rental is effective and payable as from 01 September 2023;
 
(d)          The lease will endure for a period of 10 (ten) years; subject to a rental review after a period of 5 years;
 
(e)          The property be used for parking and access purposes only;
 
(f)           Subject to such further conditions to be imposed by the Director: Property Management in terms of his delegated authority;
 
(g)          Subject to compliance with any other statutory requirements.
 
ACTION: N VANQA / SECRETARIAT