Acuitus 13/07/2017 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 13 July 2017

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 2

30 Fore Street, Okehampton, Devon, EX20 1HB

An eight week completion period is available on this lot. 5 James Street comprises two residential flats let on a 999 year lease and accessed from the rear. Flats 1-5 are accessed from an entrance on Fore Street. There are therefore seven residential flats in total and not as stated on page 12 of the auction catalogue. As to the tenancy and accommodation schedule please note that Flat 3 is a studio flat and Flat 4 is a 2 bedroom flat and not as stated. The auctioneers did not gain access to all the residential flats.
The retail unit comprises approximately 96.14 sq m (1,035 sq ft) of retail and ancillary accommodation and not as stated.
The tenants of Flat 2 are required by a Court Order dated 11th July 2017 to vacate their flat by 25th July 2017- please refer to the legal pack for further information. The intention is that Flat 2 will therefore be offered with vacant possession at the point of completion. The total rent for the property is therefore £26,560 p.a.x. being produced from one shop and three flats, with the opportunity to create further income from Flat 2 and Flat 3.