Page 8 - Interbay 2nd Charge Consent - Email and Docs
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7.12   There are financial penalties for breaches of the regulations.  These will be enforced by
                     the Local Council’s Weights and Measures Authority.  Compliance and Penalty Notices
                     will be served on the relevant party if a breach is deemed to have occurred.  It should be
                     noted that where the breach is for less than three months the fine will be equivalent of
                     10% of the rateable value of commercial properties, subject to a minimum penalty of
                     £5,000 and a maximum of £50,000, and £2,000 for residential properties. Where the
                     breach is for more than three months, the fine will be equivalent to 20% of the rateable
                     value for commercial  properties subject to a minimum  penalty of  £10,000 and a
                     maximum of £150,000, and £4,000 for residential properties.

              7.13   Furthermore, if the Landlord breaches  the MEES regulations, the breach will be
                     published on the Exemptions Register for a minimum of 12 months.

              8      STATUTORY REGULATIONS

              8.1    For the purposes of this report we have assumed that the property  complies with all
                     statutory requirements including building regulations, environmental health,
                     requirements under the Equality Act 2010 and means of escape.

              9      TOWN PLANNING

              9.1    We have made internet enquiries of the planning department of Spelthorne Borough
                     Council with regard to the existence of any planning consents over the property. The
                     council no longer take general planning enquiries over the telephone.

              9.2    We have assumed for the purposes of our valuation that the subject property benefits
                     from all required, valid planning consents in respect of its current B1 (office) use.  We
                     would recommend that your solicitors confirm this as if this is not the case then the
                     valuation figure reported below may be affected.

              9.3    The property benefits from planning permission for dated 26 September 2017 (ref:
                     17/00366/FUL) for;

                     ‘Alteration and extension to the existing building to provide 14 no. apartments (12
                     x 2 bed apartments and 2 x 3 bed apartments) with associated parking and

              9.4    As instructed by you we are not having regard to the planning consent and are valuing
                     the property in its existing office use.

              9.5    The property is not Listed nor is it in a Conservation Area.

              9.6    We are not aware of any development proposals in the immediate vicinity which would
                     have a material effect on the value of the subject property.

                                                                                                    Allsop LLP
                                                    Monkey Puzzle House, 69-71 Windmill Road, Sunbury on Thames, TW16 7DT
                                 Prepared on behalf of InterBay Funding Limited as Lender and the other Addressees, One Savings Bank
                                                                                                 Page 9 of 22
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