Acuitus 24/05/2018 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 24 May 2018

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 80

Lord Street Arcade, Lord Street / King Street, Wrexham, LL11 1LF

As to the Unit 4, the tenant has NOT exercised the tenant option to determine the lease on 26th September 2018.

Kiosk 1 is let to Wrexham Coffee Company Limited and not as stated in the Tenancy and Accommodation schedule on page 121 of the auction catalogue.

As to kiosk 2 the tenant has served a notice to determine the lease on 26th September 2018. The Seller has acknowledged the notice as invalid. However, the Seller has agreed Terms for the sub tenant of Kiosk 2 to sign a new lease for a term of 5 years from the September 2018, subject to a tenant option to determine the lease on the 3rd anniversary of the term, at an initial rent reserved of £8,500 per annum exclusive. The lease will be subject to a £200 per annum service charge and 6 month rent free period.