Suitable and capable service providers are invited to bid for Supply and letting of suitable Office Accommodation to the Department of Public Works: KwaZulu-Natal on behalf of Department of Sport, Arts & Culture: Eastern District Cluster in Durban CBD: Procurement of suitable office in extent of 454m² plus 20- 25% (113.5m²) non-assignable space totalling to 567.5m², Plus 15 Under Cover Parking Bays,08 Open Bays and 02 parking for people living with disability, for a period of 05 years with escalation not exceeding 6%, with an option to extend for a further 04 years And 11 months, to be exercised and agreed upon 24 months prior to expiry of the lease agreement. Should the Department exercise the extended option period, the first year (year 06) of the option period will revert to the rate/m2 of year one rental of the initial lease in terms of this lease and there will be no escalation effected during the extended term of the lease.
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What is the procurement trend for Suitable and capable service providers are invited to bid for Supply and letting of suitable Office Accommodation to the Department of Public Works KwaZulu-Natal on behalf of Department of Sport, Arts Culture Eastern District Cluster in Durban CBD Procurement of suitable office in extent of 454m plus 20- 25 (113.5m) non-assignable space totalling to 567.5m, Plus 15 Under Cover Parking Bays,08 Open Bays and 02 parking for people living with disability, for a period of 05 years with escalation not exceeding 6, with an option to extend for a further 04 years And 11 months, to be exercised and agreed upon 24 months prior to expiry of the lease agreement. Should the Department exercise the extended option period, the first year (year 06) of the option period will revert to the ratem2 of year one rental of the initial lease in terms of this lease and there will be no escalation effected during the extended term of the lease.?
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