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 72

53 High Street, Crawley, West Sussex, RH10 1BQ

As to note 4 below the tenancy and accommodation schedule, the RPI figure was 197.7 as at May 2006 and 262.10 as at May 2016. The current rent is therefore £38,446.64 p.a.x. and not as stated. As to note 2 below the tenancy and accommodation schedule on page 112 of the auction catalogue, the Authorised Guarantee Agreement from Johnsons Cleaners UK Limited has now expired.The landlord has recently installed new steel roof beams in place of the timber beams (see building regulations completion certificate included in the auction pack). The replacement was to repair historic damage to the wooden timbers which occurred prior to the seller’s acquisition of the property and which had not been discovered by either the previous tenant/owner or the current tenant. Following the seller’s offering the property for sale in the current auction, the tenant contacted the seller and requested a rent credit in the sum of £12,000 to be spread over one year at a rate of £1,000 per month. According to the tenant, such sum reflects the tenant’s loss of use of the part of the premises under the roof, for the period prior to completion of the repair of the roof. The tenant had not contacted the seller in respect of any such claim prior to the property being entered for sale at auction and the seller does not consider the tenant has any right to a reduction in rent or any claim against the seller. Neither has the seller received any formal claim from the tenant or any correspondence from any solicitor acting on behalf of the tenant. Notwithstanding the seller’s firm opinion that the buyer has no claim against the seller (and certainly not against any successful buyer, particularly as the steel roof beam has rectified any historic damage to the roof), the seller will use reasonable endeavours to deal with any enquiry, request, claim or other correspondence made by the tenant relating to the above, as soon as reasonably practicable.