Acuitus 12/02/2020 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 12 February 2020

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 4

Units 1 - 11 Leyland Close, Fisons Way, Thetford, Norfolk, IP24 1XA

In connection with the 2018 rent review under the Lease, the Seller has agreed directly with Breckland District Council (being the freeholder and superior landlord of the Property) a revised rent of £14,500 per annum plus VAT (Revised Rent). The Seller''s immediate landlord under the Lease (Mr and Mrs Huson) has yet to formally confirm their agreement Revised Rent by executing a rent review memorandum to this effect. The Buyer acknowledges that the Seller has agreed in principle with the Superior Landlord that the annual rent payable under the Lease shall be increased to £14,500 per annum exclusive of VAT (Reviewed Rent). The Buyer agrees to be bound by the Reviewed Rent. The Buyer acknowledges that the Landlord has not yet formally confirmed their consent to the Reviewed Rent by executing a rent review memorandum to this effect.

As to Units 1 and 2 the interest to lease the units from a Bespoke Joinery Company as stated in footnote (1) under the tenancy schedule in the auction particulars has fallen away.

As to Unit 6, The Sellers agents have received interest from an individual to lease the unit for a term of 6 years, with a tenant option to determine the lease at the end of the 3rd year, at a rent reserved of £5500 per annum exclusive.

Unit 7 is let for a term of 5 years from 7th November 2017 and Units 10 and 11 are let to Able Crane Services Limited and not as stated in the tenancy and accommodation schedule on page 15 of the auction catalogue.