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.

Units 4, 5 & 6 Frontier Works Industrial Estate, Queen Street, Tottenham, London, N17 8JA

For the avoidance of doubt the full name of the tenant is The Mayor and Burgesses of the London Borough of Haringey and not as stated on page 12 of the auction catalogue.
As to Note 2 of the tenancy and accommodation schedule on page 12 of the auction catalogue, please note that the entire Frontier Works Estate (Units 1-20) is leased to The Mayor and Burgesses of the London Borough of Haringey ("the Council"). The buyer of Lot 2 receives 15.99% (which is the percentage of the floor space of the property in relation to the total floor space of the units) of the income from the estate, less management company expenses which include rent review disbursements, bank charges, secretarial fees and directors'' fees.

The rent paid by the Council in respect of the whole estate is currently £95,000 per annum. The proportion received by the buyer of Lot 2, 15.99%, is therefore £15,190.50 per annum, subject to the above deductions. The last quarter''s rent received (i.e. for 25/12/14 to 24/3/15) was £3,616.02, i.e. £3,797.63 minus £180.61 of management expenses.

As to Note 3 of the tenancy and accommodation schedule on page 12 of the auction catalogue, please note that the rent reviews are based on 75% of the highest reasonably attainable rental value of the entire Frontier Works Estate (Units 1-20).