Acuitus 07/12/2017 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 7 December 2017

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.

Lot 1

29 The Green, Richmond Upon Thames, Greater London, TW9 1LX

Withdrawn prior to auction.

Lot 2

52-58 (Ground and Part First Floors) Streatham High Road, Streatham, London, SW16 1BZ

The orange outline on the street traders plan in the auction catalogue does not accurately highlight the demise of the property being offered for sale. Please see the Legal Pack for the correct plans/demise.

Lot 3

76 Week Street, Maidstone, Kent, ME14 1RJ

VAT is applicable to this lot and not as stated on page 13 of the Auction catalogue.

Lot 4

5 - 7a Salisbury Street, Blandford Forum, Dorset, DT11 7AU

Please note that there is a typographical error as to the total approximate floor area (sq m) within the tenancy schedule on page 14 of the auction catalogue which should read 460.03 sq m and not 470.03 sq m.

Lot 5

34 Chiswick High Road, Chiswick, London, W4 1TE

The property comprises ground floor Retail area of 91.98 sq m (990 sq ft) and not as stated in the Tenancy and Accommodation schedule on page 15 of the Auction catalogue.

The occupational lease to London Auctions Limited is for a term of 10 years from 25th December 2016 until 2026 with rent review on 25th December 2021 and not as stated in the Tenancy and Accommodation schedule on page 15 of the Auction catalogue.

Lot 7

Costa Drive Thru, Lichfield South Birmingham Road, Lichfield, Staffordshire, WS14 0QP

The purchaser is deemed to purchase with full knowledge of the provisions of the TP1 contained within the legal pack, including Part 1 of the Sixth Schedule.

Lot 8

Rayleigh Industrial Estate, Camp Lane, Handsworth, Birmingham, West Midlands, B21 8JF

As to Unit 3 heads of terms have been agreed for a new 3 year lease at an annual rent of £7,500 (inclusive of insurance and service charge) commencing on 18/12/17. The new lease is currently with the tenant for approval. As to Unit 4, the tenant has confirmed that they intend to vacate the unit at the end of their lease. As to Unit 5, the lease is for a term of 3 years from 7th April 2017 and not as stated.

Lot 10

1 Navigation Walk, Bridge Street, Wakefield, West Yorkshire, WF1 5RH

For the purpose of clarification the property benefits from 16 undercroft parking spaces and rights to a further 13 spaces allocated within the estate common parts. The property therefore benefits from a total 29 car parking spaces. Please refer to the legal pack for further information.

The lease to Spectrum Community Health C.I.C provides a tenant’s option to determine on 31 May 2021 subject to 6 months notice.

Lot 11

82 / 86 London Road, Lowestoft, Suffolk, NR32 1ET

The Buyer should note the requirement in the Extra Special Conditions (Clause 2) and Appendix 1 in the Legal Pack to provide a properly completed counterparty notification form for KYC purposes, a copy of which is contained in the Legal Pack. The Buyer should note that the Seller reserves the right not to complete the sale if full and complete information as set out at Appendix 1 of the Legal Pack and also in clause 2 of the Extra Special Conditions is not provided for KYC purposes and further terminate the contract with the Buyer if such information has not been provided within 10 Business Days of the auction contract date.

The address of the property should read 78/86a & 82/86 London Road North, Lowestoft, NR32 1ET, and not as stated in the auction catalogue.

Lot 12

2 / 8 Liscard Village & 290 Liscard Way, Wallasey, Liverpool, CH45 4JS

With regards to the Floor Areas in the Tenancy and accommodation schedule on page 26 of the catalogue the following amendments apply : -

Ground Floor – 355 sq m (3,821 sq ft)

Basement – 7.4 sq m (80 sq ft) – not inspected by the Auctioneers, area from Valuation Office Agency

First Floor - 319 sq m (3,434 sq ft)

Second Floor – 69 sq m (742 sq ft) – not inspected by the Auctioneers, area from Valuation Office Agency

Total Floor Area – 750.37 sq m (8,077 sq ft)

The basement & second floors are not presently used by the tenant and reference to office/ancillary should be deleted

With regards to the Street Traders plan the following changes apply :-

40 Liscard Way trades as Vape
26 Liscard Way trades as Wirral Hospice
11 Liscard Way is vacant

Lot 13

72 / 80 High Street, Prestatyn, Denbighshire, LL19 9BE

Please replace reference to Natwest with RBS in the bullet points and situation paragraph on page 27 of the auction catalogue.

Lot 17

59 - 61 Church Street & 1 - 3 Parker Street, Liverpool, Merseyside, L1 1DJ

The property comprises accommodation as detailed below and not as stated in the first bullet point and tenancy schedule on page 35 of the Auction catalogue.

Unit Floor Use Floor Areas (Approx)
59-61 Church Street Ground Retail 125.37 sq m (1,349 sq ft)
  Basement Ancillary 119.39 sq m (1,285 sq ft)
  First Retail/Ancillary 187.53 sq m (2,018 sq ft)
  Second Ancillary 139.88 sq m (1,505 sq ft)
  Third Ancillary 160.38 sq m (1,726 sq ft)
  Fourth Ancillary 102.14 sq m (1,099 sq ft)
  Fifth Ancillary 64.83 sq m (697 sq ft)
1-3 Parker Street Ground Retail 80.55 sq m (867 sq ft)
  Basement Office/Ancillary 68.82 sq m (740 sq ft)
Total     1,048.89 sq m (11,286 sq ft)

Lot 18

Wilko, 74 / 76 Cotton Street, Castle Douglas, DG7 1AN

Sold prior to auction.

Lot 19

2 / 12 Market Place, Dewsbury, West Yorkshire, WF13 1DH

The Buyer should note the requirement in the Extra Special Conditions (Clause 2) and Appendix 1 in the Legal Pack to provide a properly completed counterparty notification form for KYC purposes, a copy of which is contained in the Legal Pack. The Buyer should note that the Seller reserves the right not to complete the sale if full and complete information as set out at Appendix 1 of the Legal Pack and also in clause 2 of the Extra Special Conditions is not provided for KYC purposes and further terminate the contract with the Buyer if such information has not been provided within 10 Business Days of the auction contract date.

Lot 20

43 - 45 & 47 Blackbird Road, Leicester, LE4 0AJ

The property comprises accommodation as listed below and not as stated in the Tenancy and Accommodation schedule on page 41 of the auction catalogue.

Unit Floor Use Floor Areas
43-45 Ground Industrial 586 sq m 6308 sq ft
47 Basement Industrial 13.5 sq m 145 sq ft
Ground 598 sq m 6437 sq ft
First 133 sq m 1431 sq ft
Totals     1330.5 sq m 14321 sq ft

Lot 21

19 High Street & 4 Turner Street, Ramsgate, Kent, CT11 9AG

In relation to footnote (2) in the tenancy and accommodation schedule, please note the proposed new lease in respect of 19 High Street to The Nifties Group Ltd is no longer proceeding and this unit will therefore be offered vacant. Therefore the total rent for the property is currently £24,760 p.a.x.

In relation to footnote (3) of the tenancy and accommodation schedule, to the best of the Receivers knowledge, notice has not been received from the tenant to exercise their option to determine the lease on 21st May 2018, subject to the required six months’ prior notice.

Lot 22

Job Centre Plus, 50 - 52 East Street, Blandford Forum, Dorset, DT11 7UE

Please note that the orange outline on the street trader’s plan in the auction catalogue outlining the extent of the freehold demise is inaccurate; please see the title plan in the Legal Pack for the approximate boundary.

Lot 23

113 High Street, Bromsgrove, Worcestershire, B61 8AE

Withdrawn prior to auction.

Lot 24

Units 3 & 4, Queensway Avenue South, St Leonards-on-Sea, East Sussex, TN38 9AG

Sold prior to auction.

Lot 25

Santander, 49 - 51 Port Street, Stirling, FK8 2EW

In relation to the tenancy and accommodation schedule, please note the lease is subject to a schedule of condition however the Seller is not in possession of the schedule and a copy is not available.

Lot 27

41 - 53 High Street, Epsom, Surrey, KT19 8DD

Withdrawn prior to auction.

Lot 28

6 - 12, 16 and 20 Cardiff Road, Caerphilly, Caerphilly County, CF83 1JN

For the purpose of clarification the first floor comprises ancillary accommodation and not as stated.

Lot 29

31 / 33 Clifton Street, Lytham, FY8 5ER

Withdrawn prior to auction.

Lot 31

Mecca Bingo, Garrick Parade, Lord Street, Southport, Merseyside, PR9 0QG

For the avoidance of doubt, please note the exact current rent is £195,778.11 p.a.x.

Lot 32

Abbey Hall, 11 - 13 Kings Road, Reading, Berkshire, RG1 3AR

Sold prior to auction.

Lot 35

2 Durlston Gardens, Hilperton Road, Trowbridge, Wiltshire, BA14 7JJ

Please note the property comprises a care home providing accommodation on the ground, first and second floors with the second floor built into the roof. Please note there are seven en-suite bedrooms, not five as stated in the auction particulars.

Lot 36

29 - 33 Upper Brook Street, Ipswich, Suffolk, IP4 1ED

The ground floor Retail/Ancillary area should state 360 sq m (3,875 sq ft), the Total area should therefore state 569.96 sq m (6,135 sq ft) and not as stated in the Tenancy and accommodation schedule on page 61 of the Auction catalogue.

Lot 37

Paramount House Business Centre, Delta Way, Egham, Surrey, TW20 8RX

Please note that the sale is subject to a 6 week completion period. The Special Conditions of Sale in the Legal Pack will be amended accordingly.

Please note the property has the following approximate Net Internal Floor Areas (and not as stated in the Auction Catalogue):

Floor Floor Areas Approx.
Ground 772.54 sq m (8,316 sq ft)
First 756.87 sq m (8,147 sq ft)
Total 1,529.41 sq m (16,463 sq ft)

Please note that the car parking as stated in the auction catalogue includes 6 spaces that are double parked

Lot 38

114-116 High Street, Tunstall, Stoke-on-Trent, Staffordshire, ST6 5TJ

As to the description paragraph on page 64 of the auction catalogue, the property benefits from rear servicing from Butterfield Place and not as stated.

Lot 39

109 - 110 Commercial Road, Swindon, Wiltshire, SN1 5PL

Sold prior to auction.

Lot 40

27 / 29 College Street, Rotherham, South Yorkshire, S65 1AG

The Buyer should note the requirement in the Extra Special Conditions (Clause 2) and Appendix 1 in the Legal Pack to provide a properly completed counterparty notification form for KYC purposes, a copy of which is contained in the Legal Pack. The Buyer should note that the Seller reserves the right not to complete the sale if full and complete information as set out at Appendix 1 of the Legal Pack and also in clause 2 of the Extra Special Conditions is not provided for KYC purposes and further terminate the contract with the Buyer if such information has not been provided within 10 Business Days of the auction contract date.

In respect of the approximate floor areas as detailed in the auction catalogue, and in respect of footnote (2), please note the following. The approximate floor areas stated in the auction catalogue refer to the approximate floor areas for the entire property being offered for sale. The parts of the property which are being offered vacant are accessed from College Street. The parts of the property therefore which are not let to Poundworld Retail Limited (and included in the lettable floor areas), comprise the following;

First Floor-Approximately 859.32 sq m (9,250 sq ft)
Second Floor-Approximately 154.67 sq m (1,665 sq ft).

Please note that the first floor area stated in the auction particulars includes a Loading Bay let to Poundworld. For the avoidance of doubt, please note that the third floor (plant) is not vacant as per the ‘’Description’’ paragraph in the auction particulars, but is let (as per the tenancy and accommodation schedule in the auction particulars). Please note that on the street traders plan, 11 All Saints Square trades as Food Plus and 28/30 College Street is vacant.

Lot 43

17 / 18 Market Street, Falmouth, TR11 3AF

Withdrawn prior to auction.

Lot 44

134 - 146 High Street, Kirkcaldy, Fife, KY1 1LN

Sold prior to auction.

Lot 45

274-276 High Street, Bangor, Gwynedd, LL57 1UL

For the purpose of clarification please note that as to note 3 below the tenancy and accommodation schedule on page 73 of the auction catalogue, the turnover rent is payable in addition to the contracted rent of £70,000 p.a.x.

Lot 46

Mecca Bingo, 54 Eastgate Street, Gloucester, Gloucestershire, GL1 1QN

For the avoidance of doubt, please note the exact current rent is £155,958.84 p.a.x.

Lot 47

6 - 12 Market Street, Bolsover, S44 6PH

Sold prior to auction.

Lot 48

Better Gym, Horton Park Avenue, Bradford, West Yorkshire, BD5 0NL

Sold prior to auction.

Lot 49

IES House, Mission Street, Brighouse, West Yorkshire, HD6 1NQ

The purchaser is deemed to purchase with full knowledge of the replies to CPSE.2 contained within the legal pack, and in particular the reply to enquiry 13.

With regard to the Plan on page 80 of the auction catalogue and the area shown shaded light blue, please note that only part of this area is held by the seller under a long lease. Interested parties are referred to the plan within the lease dated 14th June 2017 contained within the legal pack. Furthermore, the rent of £3,276 per annum payable under that lease is subject to RPI-linked rent reviews; interested parties are referred to rent review provisions contained in the lease and will not raise any requisitions thereon.

The property comprises accommodation as detailed below and not as stated in the tenancy and accommodation schedule on page 80 of the auction catalogue.

Floor Use Approximate Net Internal Floor Areas
Ground Veterinary Surgery/Ancillary 248.32 sq m (2,673 sq ft)
Part first Office/Ancillary 74.32 sq m (800 sq ft)
Part second Ancillary 30.38 sq m (327 sq ft)
Part second (self-contained) Office/Ancillary 68.75 sq m (740 sq ft)
Part first (self-contained) Office/Ancillary 121.51 sq m (1,308 sq ft)
Total   543.28 sq m (5,848 sq ft)

At the time of their inspection the Auctioneers were unable to access the vacant self-contained part first floor (office/ancillary) and therefore cannot confirm the accuracy of the approximate floor areas stated.

Lot 55

97 High Street, Rhyl, LL18 1TR

Sold prior to auction.

Lot 56

51 Locks Street, Coatbridge, North Lanarkshire, ML5 3RT

Sold prior to auction.

Lot 57

617 - 623 Christchurch Lane, Boscombe, BH1 4AP

Please note the occupier changes to the Street trading plan on page 89 of the auction catalogue as follows

Street Number Shown on plan in catalogue as Now trading as
586 to 588 Vacant South coast Living
594 to 598 Burton Specsavers
616 to 622 T J Hughes Vacant
640 Vacant Palace Amusements
654 Specsavers Busy Bees
664 to 666 Barnardos Vacant
577 Vacant KFC
595 Evans Lloyds Pharmacy
627 Vacant Costa
633 Vacant Naomis House
643 Vacant Polish Supermarket
661 to 663 Nat West Vacant

Lot 58

Heron Foods, Neville Avenue, Barnsley, South Yorkshire, S70 3HF

The property does have internal access to the first floor and the basement and not as stated in the description paragraph on page 90 of the auction catalogue. The first floor is currently not used and has a floor area of 97.04 sq m (1045 sq ft), therefore the property has a total approximate floor area of 476.21 sq m (5126 sq ft).

Lot 60

Unit 2 Thornfield Business Park, Standard Way, Northallerton, North Yorkshire, DL6 2XQ

Sold prior to auction.

Lot 62

The Wild Lime, 38 Bridge Street, Banbury, Oxfordshire, OX16 5PY

The property is let to Abbey Inns Limited (company number 09235530) on assignment from Surrey Pubs and Inns Limited and not as stated in the Tenancy and Accommodation schedule and the bullet point on page 49 of the Auction catalogue. The lease provides for the rent to be reviewed on 29th September 2021 and 29th September 2026. The property comprises accommodation as stated below and not as stated in Tenancy and Accommodation schedule and the description paragraph on page 49 of the Auction catalogue.

Floor Use Sq M Sq ft
Ground Public House 289.00 3110
First Ancillary 120.55 1298
First Residential 2 bedroom flat (Not Self Contained) 76.31 821
Ground / Forecourt Beer Garden 110.00 1184
Total   595.86 6413

Lot 63

Gala Bingo, 52 Berrington Street, Hereford, Herefordshire, HR4 0BJ

As to the tenancy and accommodation schedule, the approximate net internal floor areas are as below and not as stated on page 96 of the auction catalogue:

Floor Use Floor Areas Approx
Ground Bingo Hall/Ancillary 701.94 sq m (7,556 sq ft)
Basement Ancillary 138.64 sq m (1,492 sq ft)
First Ancillary 445.85 sq m (4,800 sq ft)
    1,286.43 sq m (13,848 sq ft)

The basement is accessed externally.

Lot 68

21 / 23 High Street, Northwich, Cheshire, CW9 5BY

The lease in favour of Salt Town Limited provides for the tenant to determine the lease on the 5th anniversary of the term on not less than 6 months written notice.

The lease in favour of Arriva North West Limited provides for the tenant to determine the lease on 23rd June 2022 on not less than 6 months notice.

Lot 69

Earlston House, Almondvale Business Park, Livingston, EH54 6GA

A Terminal Schedule of Dilapidations dated 10th November 2017 has been served on the tenant Quintiles Scotland Limited, a copy of which is available for review within the legal pack. The seller will assign and transfer their whole right, title and interest to the buyer to pursue the tenant for any settlement, works or costs arising from their breach of the repairing obligations under the lease.

A six week completion period is available.

Lot 71

4 Roche Close, Rochford, Nr. Southend-on-Sea, Essex, SS4 1PX

As to the boundary mark up on page 104 of the auction catalogue, please note that some areas denote the basement car park only. Please refer to the title plan and register within the legal pack for the correct extent of the property being offered for sale. The buyer will be deemed to have inspected the property and to have purchased with full knowledge thereof.

Lot 73

2 Durie Street, Leven, Fife, KY8 4HE

In relation to the tenancy and accommodation schedule, please note the total approximate floor area of the first floor is 19.67 sq m (212 sq ft). Therefore the total approximate floor area is 83.31 sq m (897 sq ft) and not as stated.

Lot 77

1 Mill Road, Alloa, Kinardineshire, FK10 1EE

Sold prior to auction.

Lot 78

57/61 & 63 Marischal Street, Peterhead, Aberdeenshire, AB42 1PR

Sold prior to auction.

Lot 80

41 Bank Street, Galashiels, Borders, TD1 1EP

Sold prior to auction.