Acuitus 22/10/2015 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 22 October 2015

All Lots

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.

Lot 64

Harbour Tavern, 23 Queen Street, Bridlington, North Humberside, YO15 2SH

Marston’s Estates Limited are tenants by virtue of an assignment of the lease dated 5th March 1998 between the Landlord and Mansfield Brewery Trading Limited (now ultimately owned by Marston’s plc) and with Surety from Mansfield Brewery plc (ultimately owned by Marston’s plc) They have not served notice of assignment pursuant to the licence to assign dated the 16th October 2007 nor have they registered themselves as proprietors in Title Number HS272204.

The accounts of W&DB Estates Limited (which are available in the legal pack) (Company Number: 466771) confirm (at note 23 page 20) that all of the trade, assets and liabilities of Mansfield Brewery Trading Limited were acquired by Marston’s Estates Limited (Company Number 466771) on the 27th May 2006.

The seller invoices Marstons plc for the rent and the rent is paid to the seller.

For the year ending 4th October 2014 the surety company Mansfield Brewery Limited (Company Number 203685) (ultimately owned by Marston’s plc) reported a Total Net Worth of £124,295,000.

Completion of the Sale will be conditional upon notice of assignment of the lease to Marston’s Estates Limited being served upon the Seller. The buyer will be entitled to rescind the contract in the event that notice of the Assignment has not been served by the long stop date of 31st January 2016. Should the buyer rescind the contract then the deposit will be returned to the buyer without interest and the obligations of the parties will terminate at that date.