RESOLVED that:
It is recommended that the lease of a portion of City land, being a portion of Erf
461 Constantia, situated at 10 Constantia Main Road shown hatched and
lettered ABCD on the attached sketch marked annexure A, in extent
approximately 58.6m², to Rich Rewards Leasing (Pty) Ltd, be approved subject
to inter alia the following conditions, that:
a) A City approved rental of R16 676,88 per month excluding VAT where applicable be payable;
b) The rental will escalate at 8% per annum;
c) The lease will endure for a period of 10 years, subject at any time to 2 months’ notice of termination;
d) The proposed leased area to be used for telecommunication infrastructure purposes only;
e) Subject to such further conditions imposed by the Director: Property Transactions in terms of his delegated authority;
f) Subject to compliance with any other statutory requirements;
g) No compensation will be payable for any improvement made to the property;
h) The objection received during the public participation process not to be upheld.
Action: Gary Dammert
