RESOLVED that:
It be recommended that the lease of City Land, being a portion of Erf 116408
Cape Town, situated at Celie Road, Retreat, shown lettered ABCD on the
attached Plan 130009849 marked Annexure A, in extent approximately
1095.66 m², to Applemint Properties 81 (Pty) Ltd, owner of Erf 108054 Cape
Town or their successor in title, be approved subject, to inter alia the following
conditions, that:
a) A market rental of R 10 650.00 per month inclusive of rates and excluding VAT
calculated at the rate applicable at the time of transaction be payable;
b) The rental will escalate at 6% per annum commencing 2 months after date of valuation, i.e. as from 01.09.2023;
c) The lease will endure for a period of 10 years, subject to rental review after 5 years;
d) The property be used for Parking purposes only and no structure other than the existing structure will be permitted within the lease area;
e) The lessee shall be responsible at all times for the maintenance and good order of the land;
f) The lease may be suspended at any time should the Lessee not comply with the conditions;
g) Subject to such further conditions to be imposed by the Director: Property Transactions in terms of delegated authority;
h) Subject to compliance with any other statutory requirements;
i) No compensation will be payable for any improvement made to the property;
.
Action: Lee Fish
