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 £1,500+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 June 2024.

Energie Fitness, 44-46 Falcon Road, Battersea, London, SW11 2LR

For the avoidance of doubt the exact tenant name of the 999 year leasehold interest of the first, second, third and fourth floor residential accommodation is MONTAGU INVESTMENTS (LONDON) LIMITED (CRN: 11023082) and not as stated in the tenancy & accommodation table in the auction particulars of sale.

1)
The Seller can confirm that it is in advanced stages of negotiations with Tesco Stores Limited for them to take a new lease of the commercial space. The key terms of the proposed letting are:
• Annual rent of £115,000 excluding VAT subject to review
• Rent to be reviewed on an upwards only basis subject to a 12.5% cap
• 15 year term
• Effective full repairing and insuring
• Conditional principally upon:
• Tesco Stores Limited obtaining relevant planning consent and a premises licence
• the Seller/Landlord procuring vacant possession. It is expected the possession would be obtained through agreement with existing tenant if possible or through enforcement of lease provisions.
It is understood that the points of principle in documentation are now agreed, subject to wording agreement. Hence we understand that entering the Agreement for Lease will be possible shortly after exchange, should a buyer so desire.
In respect of the current tenant, since the granting of the Vesting Order, the Seller’s managing agent has demanded rent in accordance with the lease terms and on a quarterly in advance basis. The tenant remains in arrears having only made part payment (equivalent to a monthly pro-rata sum). The Seller has not agreed to monthly rent payments following granting of the Vesting Order. We understand the tenant is keen to remain in the Property and would like to agree monthly rent payments.
The following documentation is available in the legal pack:
• Heads of Terms;
• Current rent statement for existing tenant;

2)
The Seller can confirm that the residential block management arrangements are undertaken by BW Residential Ltd as instructed by the residents RTM Company, 46 Falcon Road RTM Company Ltd. A copy of BW Residential Ltd''s management contract is available in the legal pack alongside the following documents:
• Current insurance certificate;
• 2022 service charge budget and apportionments schedule;
• Cladding information and assessment confirming compliance status (as at date of report).