Acuitus 07/07/2016 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 7 July 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 16

76 Ongar Road & 4 North Street, Brentwood, Essex, CM15 9AX

As to the tenancy and accommodation schedule, the lease terms are as below and not as stated on page 36 of the auction catalogue

Unit Tenant Term
76 Ongar Road Individual (t/a Pizza GoGo) 15 years from 24/06/2004 until 23/06/2019
76A Ongar Road Individual (t/a Brentwood Kebab) Holding over
4 North Road Individual (t/a Pink Garlic) 16 years from 22/03/2004 until 21/03/2020
Flat 1 76 Ongar Road Individual 1 year AST from 28/02/2016 until 27/02/2017
Flat 2 76 Ongar Road Individual 1 year AST from 04/11/2015 until 03/11/2016

As to the tenancy and accommodation schedule, the approximate floor area for Unit 76 Ongar Road trading as Pizza Go Go is 35.14 sq m (378 sq ft) and not as stated. The total approximate commercial floor area is therefore 134.14 sq m (1,444 sq ft). As to 76A Ongar Road t/a Brentwood Kebab, the tenant has recently expressed interest in renewing their lease.