Acuitus 22/09/2022 Important Auction & Property Update
ADDENDUM
To the Catalogue for
Auction Sale: 22 September 2022

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 £1,500+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.
Please note the Product Guide for the Octopus Bridging Loan has been updated and is dated March 2025.
Lot 1
39 Market Street, Wymondham, Norwich, Norfolk, NR18 0AJ
The identification plan in the auction particulars does not show the full extent of the property being offered for sale. The property being offered for sale is registered under title number NK148829 and includes a flying freehold on the first floor of 41 Market Street. The title plan is available for bidders to inspect within the Seller’s solicitors legal pack, which is available to download from the Acuitus website. Bidders are deemed to have bid with full knowledge thereof.
Lot 2
273/273a High Street, Uxbridge, London, UB8 1LQ
The Seller has agreed to lease the side wall of the building as a digital advertising hoarding. The Agreement with the advertiser, Add Vision, is by way of a Licence for a term of 20 years from the installation date, with 5 yearly rent reviews, at a starting rent of £4,800 pa. The Licence is subject to Planning Consent being granted (which the Licensee is in the process of applying for) and a copy of the Licence Agreement is included in the Legal Pack. Please note that the separately let residential accommodation above the Estate Agent is arranged on the first and second/attic floors and not as stated in the auction particulars.
Lot 4
125 Bute Street, Cardiff Bay, Cardiff, CF10 5AE
Please note that the orange arrow in the photograph on Page 1 of the auction particulars and the orange outline on the Street Traders Plan outlining the extent of the freehold demise in the particulars does not accurately reflect the full extent of the freehold title being offered-please see Title Plan in the Legal Pack . In respect of footnote (2) in the auction particulars, the proposed new lease to Cancer Research Wales remains in Solicitors hands but has not yet completed and the buyer can direct the Seller what to do in respect of the new lease between exchange and completion.
Lot 5
7/8 High Street, Stroud, Gloucestershire, GL5 1AU
Sold prior to auction.
Lot 6
20 Mere Street, Diss, Norfolk, IP22 4AD
A previous tenant who had taken a lease over numbers 19 and 20 Mere Street installed doors on the first and second floors connecting the two properties. The doors remain in place but there are no rights either granted or reserved for access between 19 and 20 Mere Street through these doors.
Lot 7
Holland & Barrett, 14 Norfolk Street, King's Lynn, Norfolk, PE30 1AR
As to the Tenancy & Accommodation Table included within the particulars, please note the Total Approximate Floor Area for the Ground and First Floors (excluding the second floor) is 249.62 sq m (2,687 sq ft). Please note that the approximate floor areas do not form part of the contract of sale.
The identification plan in the auction particulars does not accurately show the extent of the property. The property being offered for sale is registered under title number NK272884. The title plan is available for bidders to inspect within the Seller’s solicitors’ legal pack which is available to download from the Acuitus website. Bidders are deemed to have bid with full knowledge thereof.
Lot 9
290- 298 Hoe Street and 9 Cobble Path, Walthamstow, London, E17 9QD
Lot 9 now comprises 290-298 Hoe Street and 9 Cobble Path, comprising a ground floor convenience store, 2 retails units and 9 flats producing a total income of £221,207 per annum exclusive.
Lot 13
11 Oak Street, Off Bolton Road (A666),, Swinton, Pendlebury Industrial Estate, Manchester, M27 4FL
“The property benefits from a site area of 0.4 hectares (1.1 Acres) and not as stated in the description paragraph within the Auction particulars”
Lot 14
Cooperative Convenience Store, 112 Homerton High Street, Hackney, London, E9 6JA
As to the occupational lease in favour of the Co-Operative Food Group Limited, the lease provides for the rent to be reviewed in line with the Retail Price Index (RPI) subject to a minimum of 1% per annum and a maximum of 4% per annum compounded and not as stated in the bullet point in the Auction particulars
Lot 15
301-311 Railton Road and Arches to the Rear, Herne Hill, London, SE24 0JN
Please note that the property is producing a gross rent of £157,651 per annum exclusive and a net rent of £144,151 per annum exclusive and not as stated in the particulars.
As to the Tenancy & Accommodation Table included within the particulars, please note that the lease to OTC Holdings Ltd for Unit 644/645 includes Personal Guarantees. The lease also includes a rent review on the 5th anniversary of the term and is to include a minimum fixed rental increase. Further detail is available for bidders to inspect within the Seller’s solicitors legal pack, which is available to download from the Acuitus website. Bidders are deemed to bid with full knowledge thereof.
As to the Tenancy & Accommodation Table included within the particulars, please note that the current tenant of Unit 309 has been served a Section 25 Notice of the Landlord and Tenant Act 1954 (expiring 17 December 2022) and Rent Review Trigger Notice (expiring on 29 September 2022) by the Vendor. A copy of these Notices are available for bidders to inspect within the Seller’s solicitors legal pack, which is available to download from the Acuitus website. Bidders are deemed to bid with full knowledge thereof.
Lot 17
2 High Street, Chippenham, Wiltshire, SN15 3EP
Please note that the lease term is 15 years from 24th June 2009 and not 22nd June 2009 as stated in the auction particulars-please see.
Lot 18
Prezzo, 20 High St, Lyndhurst, Hampshire, SO43 7BD
The deposit due on exchange of this Lot will be 10% of the Price to be held as stakeholder for the Seller and not as stated in the Special Conditions of Sale.
Lot 20
Royal Mail Distribution Centre,, 3 Queens Drive, Kilmarnock, East Ayrshire, KA1 3XF
Please note that completion (settlement) of this sale will be six weeks from the day following the auction date, as detailed in the Articles of Roup in the Legal Pack.
Lot 22
7 Plough Lane, Teddington, London, TW11 9BN
Withdrawn prior to auction.
Lot 24
54-56 King Street, Darlaston, Nr Wednesbury, West Midlands,, WS10 8DE
Please note the lease term to Heron Foods Limited should read 5 years from 16th June 2021, and not as stated in the auction particulars. The tenant option to determine date is correct as per footnote (3) in the auction particulars.
Sold prior to auction.
Lot 25
Costa Coffee, Yoden Way, Castle Dene Shopping Centre, Peterlee, Durham, SR8 1AL
The tenure being offered for sale is a Virtual Freehold interest held for a term of 999 years from completion at a fixed peppercorn rent and not as stated in the Tenure paragraph of the auction particulars.
Sold prior to auction.
Lot 27
Hendford Manor, 33 Hendford,, Yeovil, Somerset, BA20 1UN
As stated in the Special Conditions in the Legal Pack, on completion the Buyer shall pay to the Seller, the cost of providing the searches disclosed as part of the auction pack and a contribution to the Seller’s fees of 2% of the purchase price plus VAT.
Lot 29
Coop Convenience Store, 136 Southwark Bridge Road, London, SE1 0DG
The Right to Manage Company, MyBase 1 RTM Company Limited are currently undertaking remedial works to the external cladding of the building, details of the works are available within the Legal Pack. The managing agents for the building have written to the lessees informing them that the Building Safety Fund have agreed to fund the cost of the cladding replacement. A copy of the letter is available in the Legal Pack. There is relatively small element of the works that are not covered by the under-Building Safety Fund scheme, the cost of which are estimated at approximately £225,000 plus VAT. An invoice for £5,695.81 for the contribution towards the non-reclaimable costs under the service charge provision of the 999 year is available in the legal pack. This invoice has been settled by the Seller and the contribution is recoverable from the occupational tenant. The project is currently expected to be completed in August 2023 and estimations from the managing agent suggest a further contribution may be required between £50,000 - £100,000 plus VAT for the whole building. The units contribution to these costs will be based on the estate percentage applicable to this unit.
Lot 32
Kwik-Fit, Mill Lane, Halesowen, West Midlands, B63 3JE
On 9th September 2022, the tenant, Kwik Fit Properties Limited, served a S26 Notice to the Landlord, Chadworth Investments Limited, requesting a new tenancy for a period of 15 years from 13th March 2023, with an upward only rent review at Year 5 and tenant only options to determine in years 5 & 10 at a commencing rent of £32,200 per annum. A copy of this Notice is included in the Legal Pack. As stated in the Special Conditions of Sale, on completion of the sale, the Buyer shall in addition to all sums due pay an additional sum equivalent to 1% of the purchase price as a contribution towards the Seller’s legal agents’ and administrative costs.
Lot 35
Energie Fitness, Block A Bennett Court, 40-42 Church Road, Ashford, Middlesex, TW15 2UY
Sold prior to auction.
Lot 46
53/55 High Street,, Rhyl, Denbighshire, LL18 1TH
In respect of the approximate floor areas in the auction particulars, please note the following approximate areas should apply:
Floor | Use | Floor Area Approx sq m | Floor Area (Approx sq ft) |
---|---|---|---|
Ground | Sales/Ancillary | 163.69 | (1,761) |
First (Rear) | Ancillary | 45.95 | (494) |
First (Front) | Offices | 73.46 | (790) |
Total | 283.10 | (3,045) |
Please note that the approximate floor areas do not form part of the contract of sale.
Lot 48
Custom House, Clayton Street, Avonmouth, Bristol, BS11 9DX
The deposit due on exchange of this Lot will be £1,000 or 10% of the purchase price, whichever is the greater, and is to be paid to the AUCTIONEER and held by the AUCTIONEER (or if the AUCTIONEER chooses, the SELLER''S conveyancer) as stakeholder.
Please delete reference to 6 weeks completion within the sale particulars. Clarity on the completion period is given within the special conditions of sale within the auction legal pack and bidders will be buying with full knowledge thereof.