City Press newspaper reported that businessman Thulani Majola and his company LTE Consulting are engaged in a bitter battle that involves R30 million.
Investage 183, a Johannesburg based property company is alleging that Majola failed to pay more than R28 million in rent for the premises in Sunninghill.
The publication revealed that Investage submitted affidavits to the court stating that the agreement was signed in March 2018 and ended in October 2021.
The lease was then extended to 2026 and Majola was expected to finance the deal through Vunani Investment Trust.
The rental amount is R288 997,88 per month at an 8% rate per annum. Majola also rented 107 basement parking bays at a cost of R73 830 per month.
The deal included Municipal charges amounting to R47 304 per month. Investage claims that Majola disregarded the terms of their lease contract when his company vacated the premises in October.
Please read the full story in today’s City Press newspaper- 22 May 2022.