Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of City Land, Council Garage No. 1, situated on a portion of Remainder Erf 148 Clifton, The Ridge Road, Clifton shown hatched and lettered ABCD on the attached plan 130010433 marked annexure A, in extent approximately 19m², to Edmond Joseph Tuohy or his successors in title, be approved subject to inter alia the following conditions, that:
a) A market rental of R3 600.00 per month, inclusive of rates and excluding VAT calculated at the rate applicable at the time of transaction, be payable;
 
b) The monthly rental shall escalate at 6% per annum compounded annually commencing 2 months from date of valuation i.e. as from 01 June 2024;
 
c) The above recommended rental is effective and payable as from 01 June 2024;
 
d) The lease will endure for a period of 10 (ten) years, subject to a rental review after a period of 5 (five) 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.

Action: Nomthandazo Vanqa