The purchaser of each lot is deemed to purchase with notice and full knowledge of the important notice to bidders, the Common Auction Conditions, where applicable, the special conditions of sale and this addendum.

The purchaser of each lot is deemed to have inspected the property and have verified the accuracy of all information given in the particulars including the extent of the premises to be sold and the floor areas. Additionally, the purchaser is deemed to have read the legal documentation.

The boundary plans in the auction catalogue are for identification only. The correct title plan showing the boundaries of the properties are available for inspection and the purchaser will be deemed to have purchased with full knowledge thereof.

Please note that vendors may require a supplementary amount to be paid by the purchaser to the vendor over and above the purchase price. Please check the special conditions of sale to ascertain whether this applies to the property for which you are bidding.

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017.

Under the Regulations, Acuitus is legally required to immediately undertake customer due diligence checks on the buyer and related parties.

Acuitus will need to receive identification documents that satisfy the Regulations for the bidder, the buyer (if different from the bidder), the beneficial owners with more than 25% of the voting rights or capital and proof of authority if the bidder is acting as an agent.

Acuitus will also need to receive satisfactory identification on the source of the deposit money provided by the bidder/buyer.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

The Common Auction Conditions have been updated as at March 2021.

Sovereign House, 11-19 Ballards Lane & 6 Albert Place, Finchley, London, N3 1QB

Please note that all parties wishing to bid for this property need to pre-register with Acuitus in advance of the Auction. To this end, please can you ensure that you complete the Bidding Registration Form which can be found on our website or request from Ayshea Yardley, ayshea.yardley@acuitus.co.uk; and provide the relevant identification documentation and return to Ayshea Yardley ayshea.yardley@acuitus.co.uk or by fax 020 7034 4869 no later than close of business on Tuesday 8th July 2014. The auctioneer will only be taking bids from pre-registered bidders.

This is a sale by the mortgagee with limited knowledge of the Property. As such, replies to the Commercial Property Standard Enquiries will not be provided. Each prospective buyer must rely on its own investigations of the Property and enquiries of the local authority etc. and any specific enquiries must be raised via the mortgagee’s Solicitors, Burges Salmon.

Included in the legal pack is a claim by the borrower’s director against the Receivers. However, the property is being sold by Nationwide as mortgagee under power of sale which is unaffected by this claim. In any case, the Receivers have defended the claim and applied to strike it out.

Please note that Future Medicine Limited are not currently in occupation of the property and are trying to assign their lease.

In respect of the advertising agreement/licence to JC Decaux UK Limited (“J C Decaux”), please note that the Seller’s knowledge in relation to the advertising hoarding agreement/licence to JC Decaux is limited and based on all the information that has to date been provided. The Seller gives no warranties in this regard.

For the avoidance of doubt, we understand that a notice to terminate the licence/agreement was served by JC Decaux on 5th August 2009 but was later withdrawn via a letter dated 3rd September 2009. The 3rd September 2009 letter stated that the rent would be reviewed on 6th September 2013 without expressly changing the rent review schedule set out in the original 6th March 2008 licence/agreement (which was originally stated to take place every two years from 6 March 2008 onwards).

Another letter received from JC Decaux dated 9th November 2011, suggested that the rent reviews would be due September 2013, September 2015 and on each second September thereafter. Further enquiries, requests for clarification on the rent review and additional information have been made of the occupier, J C Decaux, but no response has been received as 1st July 2014.

In the absence of evidence to the contrary, it is our understanding that the wall that the hoarding is fixed to is a party wall falling within the demise of the Property, shown in orange in the auction catalogue but the Seller gives no warranties in this regard. No objections or requisitions shall be made in respect of this or any of the above relating to the advertising hoarding.