Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale:

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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

The Common Auction Conditions have been updated as at March 2021.

Lot

10, 11 and 12 Laura Place, Bath, BA2 4BL

On the 14 December 2020 the Seller received an email from Richardson Swift regarding the leases of Ground Floor 10 Laura Place, First Floor 10 Laura Place and Ground Floor 11 Laura Place. The Tenant has indicated that they are considering the upcoming break option but are unlikely to be able to consider their options fully by the break date in the lease. The Tenant has therefore requested a deferral on the break which the Seller has advised will be for any new owner to negotiate. Please note completion will be 8 weeks from exchange, subject to grant of the letters of Administration, as per the Special Conditions Updated in the legal pack. Please note the Special Conditions Updated have been added to the legal pack and relate to the following :- Letters of Administration have not been granted in respect of 10 Laura Place. Exchange will take place on the date of the Auction with a price agreed that includes the whole Lot (10, 11 and 12 Laura Place). Completion will take place once Letters of Administration having been granted in respect of 10 Laura Place and completion of the transfers relating to 10, 11 and 12 Laura Place will complete simultaneously. If Letters of Administration have not been granted by the 15 March 2021 either party my terminate the contract. The Floor areas provided are for use as a guide only, with no warranty given and do not form part of the auction contract.

Floor Use Floor Areas (Approx) Tenant
Basement (10 LP Storage 39 sq m (419 sq ft) Vacant
Basement (11 LP) Storage 34 sq m (365 sq ft) Vacant
Basement (10 & 11 LP interconnected) Residential - 2 bed flat 75 sq m (807 sq ft) * Vacant
Basement (12 LP only) Residential - 1 bed flat 41.80 sq m (450 sq ft) Vacant
Lower Ground (10 LP only) Office 51 sq m (549 sq ft) Go Course (formerly known as Course Academy Limited) (1)
Lower Ground Annex Office 34.28 sq m (369 sq ft) Vacant
Lower Ground (11 & 12 interconnected) Office 78.50 sq m (845 sq ft) Chelverton Asset Management Limited (2)
Lower Ground (12 LP only) Office 53.13 sq m (572 sq ft) Fortress Properties Services Limited
Ground Floor (10 LP only) Office 88.8 sq m (956 sq ft) Richardson Swift Limited (3)
Ground (11 LP only) Office 80sq m (861 sq ft) Richardson Swift Limited (3)
Ground (12 LP only) Office 70.20 sq m (756 sq ft) Canned Wine Company (5)
First Floor (10 LP only) Office 107 sq m (1,160 sq ft) Richardson Swift Limited (3)
First Floor (11 LP only) Office 91 sq m (980 sq ft) Vacant
First (11 & 12 interconnected) Residential - 2 bed flat 85 sq m (915 sq ft) * Individual
Second Floor (10 LP only) Residential - 2 bed flat 99 sq m (1,065 sq ft) * Individual
Second Floor (11 LP only) Office 89 sq m (950 sq ft) Inosys Limited (8)
Second (11 & 12 LP interconnected) Residential - 2 bed flat 85 sq m (915 sqft) * Individual
Third Floor (10 LP only) Residential - 2 bed flat 99 sq m (1,065 sq ft) * Individual
Third Floor (11 LP only) Residential - 4 bed flat 91 sq m (979 sq ft) * Individual
Third & Fourth (11 & 12 LP interconnected) Residential - 3 bed masionette 120 sq m (1,291 sq ft) * Individual
Fourth Floor (10 LP only) Residential - 2 bed flat 74 sq m (796 sq ft) * Individual
Grand Total 10, 11 & 12 Laura Place   1,586.01 sq m (17,072 sq ft) *  
NB - Office & Storage Areas are NIA
* Residential Areas are GIA but exclude the main staircase