Acuitus 11/12/2019 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 11 December 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 39

Parkfield House, 197 / 205 High Street, Crowthorne, Berkshire, RG45 7AQ

With regards to Footnote (1) the lease of 203 & 205 High Street has now completed with Re-Flection Wellness Limited.

The lease is for a term of 5 years from 3/12/2019 at a rent of £18,000 per annum, with an option to determine on 03/12/2022 and a rent deposit of £5,400 is held.

The tenant has a 6 month rent free period. The seller will adjust completion monies so that the unit effectively produces £18,000 per annum from completion of the sale.

The following further amendments apply to the Tenancy and Accommodation schedule :-

201 High Street – Khurana Retail Shop Limited is for a term of 10 years from 16/03/2017 expiring 15/03/2027, with an option to determine 16/03/2022 and rent review in 16/03/2022.

197 & 199 High Street – Let on two separate leases both 199 years from 1/01/2004 expiring 31/12/2202.

The floor areas stated, are from the Valuation Office Agency website. Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale.

For the avoidance of doubt, the property is currently arranged as 3 retail units, 2 of which are double fronted, with a single unit and residential accommodation above. The total rent is £39,750 per annum.

With regards to the Landlord & Tenant Act 1987, the Seller has received no acceptance notices from the tenants.