Subcouncil 16

Resolution detail

RESOLVED to RECOMMEND that the lease of Public Street, Erf 950 Sea Point West, situated at Quendon Road, Sea Point West, Cape Town shown hatched and
lettered ABCD on the attached plan 130009292 marked annexure A, in extent
approximately ±39 m² to Kew Gardens Body Corporate or their successors in
title, be approved subject to inter alia the following conditions:
 
a) A market rental of R1 100.00 per month inclusive of rates and excluding
VAT calculated at the rate applicable at the time of transaction be payable;
 
b) The monthly rental to be adjusted on the basis of 6% per annum commencing 2 months from date of the valuation. Accordingly, the above recommended rental is effective and payable as from 2022-12-01;
 
c) The proposed lease term is for a period of 10 (ten) years and is to be
reviewed after a period of 5 (five) years;
 
d) The property to be used for parking and storage purposes only;
 
e) Subject to such further conditions to be imposed by the Director: Property
Management 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.