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 7

KFC Drive Thru, Chester Way, Northwich, Cheshire, CW9 5GF

As to the Assignment of Lease from Scotco Restaurants Limited to Clokken Ltd (with KFC (Great Britain) Limited as guarantor). The Seller has had further discussions with lawyers for all parties involved in the proposed assignment. All parties have agreed the following position:

• Scotco Restaurants Limited will not be required to give an AGA on assignment;
• Clokken Ltd and Kentucky Fried Chicken (Great Britain) Limited will be the new tenant/guarantor and will be required to give an AGA/GAGA on any subsequent assignment.

The Seller is negotiating a licence to assign to finalise this. The tenant is not able to commit to a time-frame for completion (and will have up to six months to complete) so the Seller is not able to guarantee that the assignment will be completed prior to sale – but the tenant has asked to sign the licence as soon as possible and has told us that it intends to complete in the next few weeks if possible.