Subcouncil 4

Resolution detail

It is recommended that the lease of portions of the Remainder of Erf 32585 and Remainder of Erf 101701 Cape Town, situated between Christian and Dacres Avenue, Epping Industria 2, Cape Town, shown hatched and lettered ABCDE on Plan No 130009645 attached and marked Annexure A, in extent approximately 544 m², to SA Copperworks (Pty) Ltd, or its successors-in-title, be approved subject to inter alia the following conditions:
a)     A market rental of R8 900 per month, excluding VAT and including rates, calculated at the rate applicable at the time of the transaction, be payable;
b)     The monthly rental is to be adjusted based on 6% per annum compounded annually commencing from 2024-10-01;
c)      The above rental is to be effective and payable as of 2024-10-01;
d)     The lease will endure for a period of ten (10) years;
e)     The rental is to be reviewed after a period of five (5) years;
f)       The property may be used for storage purposes only;
g)     Subject to such further conditions to be imposed by the Director: Property Transactions in terms of his delegated authority;
h)     Subject to compliance with any other statutory requirements;
i)        No compensation will be payable for any improvement made to the property;
j)        No structures of any kind may be erected on the property without the written consent of the City of Cape Town. 
 
FURTHER RESOLVED
 
k)      The rental amount must be reviewed after 5 years, taking into consideration Subcouncil’s concerns that the proposed rental is too low and to allow for a higher rental to be implemented. The reviewed rental must be submitted to the Subcouncil for their comment.
Any request for a sub-lease must be submitted to the Subcouncil for comment, specifically regarding the rental amount applicable to the sub-lessee.