Subcouncil 1

Resolution detail

It is recommended that the lease of a portion of the Remainder of Erf 3400 Milnerton, situated at Beach Crescent, Table View, Milnerton, shown hatched and lettered ABCDEFGHJK on Plan No 130009416 attached and marked Annexure A, in extent approximately 568 m², to Zibiscope (Pty) Ltd, or its successors-in-title, be approved subject to inter alia the following conditions:
 

1. A market rental of R11 300 per month, excluding VAT and including rates, calculated at the rate applicable as the time of the transaction, be payable;

2. The monthly rental is to be adjusted on the basis of 6% per annum compounded annually commencing from 2023-11-01;

3. The above rental is to be effective and payable as from 2023-11-01;

4. The lease will endure for a period of ten (10) years;

5. The rental is to be reviewed after a period of five (5) years;

6. The property may be used for vehicle access and security purposes only;

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

8. Subject to compliance with any other statutory requirements;

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

10. No structures of any kind may be erected on the property without the written consent of the City of Cape Town.