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.

Derwenthaugh Industrial Estate, Gateshead, Newcastle upon Tyne, Tyne & Wear, NE16 3BQ

Please delete reference to the floor areas stated for all compounds in the tenancy and accommodation schedule on page 59 of the auction catalogue. We understand that these areas are site areas and that the compounds are currently used as open storage. The areas of the buildings come from a measured survey but no warranty can be given.
As to the Tenancy and Accommodation Schedule, please note that in reference to Note 11 the new lease to Mortar Direct (North East) Ltd has completed. The lease is for a term of 3 years from and including the 21st February 2014 at a rent of £8,000 per annum. Please also note that the lease to Colas Limited on the Porta Cabin Site has also completed and is for a term of 5 years from and including 24th June 2015, subject to mutual break options, at a rent of £5,000 p.a. for two porta cabins and £1,000 p.a. for each additional porta cabin.
For the avoidance of doubt the rents stated in the tenancy and accommodation schedule are gross rents. Some of the rents include landlords outgoings such as service charge and insurance. Please refer to the legal pack.