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.

Kingsway Shopping Centre, Newport, Gwent, NP20 1EW

As to the Tenure section of the marketing particulars, the property is held Leasehold. Held from Newport City Council for a term of 250 years from 13/08/2009 at a minimum rent of £265,000 per annum subject to annual reviews. Newport City Council have previously offered a reduced rent of £150,000 per annum until June 2025 and buyers are directed to the note and letter from the Council in the legal pack. The full rent review clause is available to view within the legal pack. For the avoidance of doubt, the long leasehold excludes the upper floors of the multi-storey car park and the library.

The lot includes the property at 68 Commercial Street – please refer to the legal pack. The land known as 68 Commercial Street is freehold – please refer to the legal pack for details.

The Wilko store ceased trading on 17 September 2023.

The Gross Contracted Income is currently (as at 19/09/2023) £1,186,682.91 and not as stated in the auction particulars. Please refer to the Legal Pack for further information.