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 40

56, 58, 62 Wolseley Road, Plymouth, Devon, PL2 3BP

The tenure of the property to be sold is both freehold and long leasehold. The long leasehold of the convenience store & car parking spaces is for a term of 999 years from 11th January 2012 at a peppercorn rent. This is subject to an underlease vested in Tesco Stores Limited, on terms as stated in the particulars of sale. The freehold title will be apportioned at £1 of the purchase price.

With regards to the Key Details, reference to Tesco Plc should read Tesco Stores Limited.

The boundary plan does not correctly identify the property to be sold. The Title Plan (Title no. DN26412) showing the full extent of the property to be sold is available for inspection in the legal pack.

Please note Tesco are not currently trading from the unit and fit out works have not yet commenced. The Seller has no further information as to when fit out works will commence.