Acuitus 27/03/2024 Important Auction & Property Update

To the Catalogue for
Auction Sale: 27 March 2024

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 20

4a Vaughan Street, Llanelli, Carmarthenshire, SA15 3TY

Please note that as specified in the Special Conditions of Sale, the Buyer will pay a contribution towards the seller’s legal fees of 1% plus VAT of the sale price.

By way of an email from the tenant’s (McDonalds) leasing agent, Lambert Smith Hampton to the Seller dated March 19th, McDonald’s confirm that they are considering re-occupying the subject property. As part of this consideration McDonalds have suggested that they would be willing to commit to a longer term beyond the current expiry date of 2033, subject to the below. Below are the high-level terms that McDonald’s would accept (subject to board approval and reoccupation):

• 10-year reversionary lease from expiry of existing lease
• Upwards and downwards rent review on Day 1 of the reversionary lease
• Upwards only rent review on 5th anniversary of the term.
• 12 months’ rent free from completion (i.e. 12 months’ rent free at the passing rent)

A copy of the full email from Lambert Smith Hampton is evidenced in the Legal Pack.