suitable and capable service providers are invited to bid for supply and letting of suitable office

Tender Detail : 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: durban archives repository in durban cbd: procurement of suitable office in extent of 2682m² plus 20- 25% (670.5m²) non-assignable space totaling to 3352.5m², plus 18 under cover parking 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 the expiry of 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.