Subcouncil resolution details
Subcouncil 6
Agenda item no
06SUB 25/7/2024
Subject
PROPOSED LEASE OF A PORTION OF CITY LAND, BEING A PORTION OF THE REMAINDER OF ERF 14797 BELLVILLE, SITUATED OFF DORBYL STREET, SACK’S CIRCLE INDUSTRIA, BELLVILLE: ADVANCED GALVANISING (PTY) LTD
Meeting date
Monday, July 15, 2024
Resolution
Recommend
Date closed
Wednesday, July 24, 2024
Resolution detail
Subcouncil 6 SUPPORTED and NOTED the report and recommended to Council that the lease of a portion City Land, being a portion of the Remainder of Erf 14797 Bellville, situated off Dorbyl Street, Sack’s Circle Industria, Bellville, as shown hatched and lettered ABCD on the attached sketch 130005441v1 marked annexure A to the report, in extent approximately 722m², to Advanced Galvanising (Pty) Ltd, or its successor in title, be approved subject, to inter alia the following conditions, that:
a) A market rental of R8 100.00 per month (inclusive of rates and exclusive
of VAT) calculated at the rate applicable at the time of transaction be
payable;
b) The monthly rental shall escalate at 6% per annum commencing from date
of valuation. Accordingly, the rental of R8 100.00 per month is effective
and payable as from 2023-07-01
c) Beneficial occupation: As previously agreed, a rental of R4 500.00 per
month (excluding VAT) is effective and payable from 2016-07-01 and shall
escalate at 8% per annum for the period 2016-07-01 until 2023-06-30;
d) The lease will endure for a period of 10 years; rental to be reviewed after 5
years;
e) The property be used for storage purposes only;
f) Subject to such further conditions to be imposed by the Director: Property
Transactions in terms of his delegated authority;
g) Subject to compliance with any other statutory requirements;
h) All outstanding accounts with the City of Cape Town be settled; |
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FOR ATTENTION: MELISSA VAN DER WESTHUIZEN
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