Acuitus 23/05/2019 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 23 May 2019

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 12

23 / 25 Kensington High Street, Royal Borough of Kensington & Chelsea, London, W8 5NP

The ground floor and basement of 23 Kensington High Street is let to Toller Qualter Limited (company registration number 11804681) for a term from 18th April 2019 until 28th September 2025 at a current rent reserved of £60,500 per annum exclusive. The Seller is holding a rent deposit of £12,252.53 and not as stated in the Tenancy and Accommodation schedule on page 25 of the Auction catalogue. The director of Toller Qualter Limited (CRN 11804681) has operated a Retail shop from the property since June 2008 under a lease, on assignment to Toller Qualter Limited (CRN 06547422, recently dissolved) for a term of 25 years from 29th September 1995, which has recently been disclaimed and the new lease signed.