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.

51 High Street, Newport, Isle of Wight, PO30 1SB

The Receivers and Managing Agents are uncertain on whether VAT is applicable to this sale. There is evidence that VAT was previously charged on the rent and credited back to the tenant. From June 2015 onwards rent has been demanded without VAT. The HMRC letter that the Receivers solicitors are in possession of does not confirm that they have a record of an option to tax, however, if the property was elected pre-1995 then HMRC would not have required notification. KPMG who acted as administrators on behalf of the bank in relation to this property believe that VAT is applicable and the buyer cannot raise any objection or requisition if this is not the case. The buyer''s attention is drawn to the provisions of the Special Conditions relating to the potential for the sale to constitute a transfer as a going concern.