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.

Phase 1 & 2, New Road Industrial Estate, Sheerness, Kent, ME12 1DB

As to the tenancy and accommodation schedule, the lease of Phase I Unit 1 has now completed, and the tenant has surrendered the lease of unit 5a as per note 1.
For the purpose of clarification the lease of Unit 1 is for a term of 5 years from 23/11/2016 at a rent of £3,225 pa. The lease provides a tenant option to determine on 22/11/2018. The tenant is benefitting from a rent free period due to expire on 22/02/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £3,225 p.a. from completion of the sale.
The lease of Phase I 4a & 4b has now completed to an individual t/a Mark Lifton Paint & Body Services for a term of 5 years from 21/11/2016 at £4,800 pa.
With regard to Phase II Unit 3, the lease provides fixed rental increases to £7,600 pa from 04/05/2017 to 03/05/2018, £8,000 pa from 04/05/2018 to 03/05/2020 and £8,400 pa from 04/05/2020 to 03/05/2021. Please therefore delete note 5 of the tenancy and accommodation schedule.
The tenant of Phase II Unit 5 is an individual and not as stated in the auction catalogue.
The lease of Phase II Unit 6 has now completed for a term of 5 years from 06/12/2016 at a rent of £4,500 p.a.
The lease of Phase II Unit 7 has now completed to an individual for a term of 5 years from 07/12/2016 at a rent of £5,640 p.a.
The lease of Phase II Unit 8 has now completed for a term of 5 years from 04/11/2016 to 03/05/2021.
The lease of Phase II Unit 10 has now completed to an individual for a term of 5 years from 01/01/2017 at £4,500 p.a. As to note 8 of the tenancy and accommodation schedule, the tenant will benefit from a 6 month rent free period. The seller will adjust the completion monies so that the unit effectively produces £4,500 p.a. from completion of the sale, and not as stated.
Page 5 of 10
08/12/2016
For the purpose of clarification the lease of Phase I Units 9 & 10a has not yet completed. If the lease has not completed by completion of the sale then the seller will not be topping up the rent free period as stated in note 4 of the tenancy and accommodation schedule. The current total rental income is therefore £82,140 p.a.x.(gross)