Acuitus 19/05/2016 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 19 May 2016

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 25

The Wardley Centre, 3-17 (odd numbers) & 19-25 (Mecca Bingo), Bradford, West Yorkshire, BD5 0AB

Please note that on 4th May 2016, Luda Bingo Limited changed their name to Wardley Centre Bingo Limited. Please note that Wardley Centre Bingo Limited is the current tenant of that part of the property let for a term of 99 years from 4/1/1966 at £412,643 pa. This lease was assigned on 22/10/2015 from Mecca Bingo Limited to Luda Bingo Limited and on the same day was sublet back to Mecca Bingo Limited for a term expiring on 21/10/2020, with a rolling termination right for either party on 3 months notice, at a sublet rent of £412,643 pa.

In respect of the part of the property let for a term of 25 years from 25/3/1994 at a rent of £13,500 pa, please note that as far as the Receivers are aware, this part is still let to Mecca Bingo Limited and has not been assigned to Wardley Centre Bingo Limited as stated in the Auction particulars. Wardley Centre Bingo Limited are therefore current tenants on one of the leases only.

In respect of the ‘’Description’’ paragraph, please note that the Bradford Ice Arena is sublet from Wardley Centre Bingo Limited and not Mecca Bingo Limited.

Please note that Wardley Centre Bingo Limited is not a subsidiary of Mecca Bingo Limited. Wardley Centre Bingo Limited and Mecca Bingo Limited are however both subsidiaries of Rank Gaming Division Limited although for the avoidance of doubt, please note that Rank Group Gaming Division is not party to either of the leases.

Under the ‘’Tenure’’ paragraph, the rent collected for the year to 24/12/2015 was £455,043 pa and not £455,403 pa, as stated in the auction particulars.

In respect of Unit 4, the letting to Mr A Hussain is for a term of 10 years from 30/9/2014 until 29/9/2024, and not as stated in the Auction particulars.

Please note that the orange outline on the street trader’s plan does not accurately reflect the extent of the demise being sold-please see legal pack for title plans.
Please note that the total approximate floor area for the Bingo Hall/Ice Rink (19-23 Little Horton Lane) is 81,851 sq ft, as measured on a Gross Internal Basis, however the auctioneers are unable to warrant the floor areas.