Acuitus 05/12/2018 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 5 December 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 27

44 - 45 High Street, Stamford, Lincolnshire, PE9 2BD

For the purpose of clarification the ground floor area on page 49 of the auction catalogue should read 3,400 sq ft (315.87 sq m) and the total floor area is therefore 5,545 sq ft (782.37 sq m). The floor areas are provided for use as a guide only and do not form part of the contract of sale.

Please remove reference to Carphone Warehouse as a nearby occupier.

The April 2018 review is outstanding. A notice was served on 8 June 2018 by the Seller’s agent at £150,000. The Seller and the tenant have been discussing a regear of the lease and on 22 November 2018 the tenant’s agent indicated that the tenant would consider entering into a three year reversionary lease if a six month rent free and nil increase in respect of the outstanding review could be agreed. An arbitrator has been appointed but no further action has been taken in view of the impending sale.