Acuitus 15/12/2022 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 15 December 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 January 2025.

Lot 2

Tesco Express, 1-3 Purbeck Parade, High Street, Lytchett Matravers, Nr Poole, Dorset, BH16 6BQ

It was anticipated that the renewal of the lease to Tesco Store Limited would have been completed prior to the Auction, however the new lease has been agreed but not yet been completed. The Special Conditions of Sale provide for the Buyer to rescind the contract in the event that the lease is not completed by the date that is 3 calendar months from and including the contract date. Please see the Special Conditions of Sale within the Legal Pack for detail.

Lot 4

14/16 London Road, Bognor Regis, West Sussex, PO21 1PY

Sold prior to auction.

Lot 5

24-26 Market Place, Richmond, North Yorkshire, DL10 4QG

The floor areas are for use as a guide only and do not form part of the contract of sale.
Sold prior to auction.

Lot 6

73 Monarch Parade, London Road (A217), Mitcham, London, CR4 3HB

The tenant is Jay’s Mini Market, guaranteed by Joyce Hagan and not as stated in the auction particulars. Please delete the reference to (CRN 06968812) in the Auction particulars.

Lot 7

68 Caledonian Road, King's Cross, London, N1 9DP

Sold prior to auction.

Lot 8

474 High Road, Tottenham, London, N17 9JF

Please note there is a parcel of land to the rear of the property which is not demised to the residential or the commercial tenants however does form a part of the sale. Further information is available within the Seller’s solicitor’s legal pack, which is available to download from the Acuitus website. Bidders are deemed to have bid with full knowledge thereof.

On the 14 December 2022 the 999 year leasehold tenant Asher Solinsky and Oldhill Estates Limited (the “Oldhill”) of (mainly) the first and second floors of the building which long lease is dated 7 July 2006 and registered under title number AGL161064 issued a solicitors letter to the seller’s solicitors claiming that the demise of the commercial lease to KGR Tottenham Ltd dated 1 July 2021 included a small part of Oldhill’s demise at the rear of the building and claiming in addition that a small raised platform and refrigeration unit have been placed in this area by the commercial tenant and a small external (non structural) wall and bin area has been erected in breach of rights and in breach of the landlords obligation for quiet enjoyment and in derogation of grant and seeking removal of the platform, equipment bin area and wall as an initial part of any claim by Oldhill. The area that Oldhill considers to be affected is a small part of the yard area towards the rear of the property onto which a staircase discharges. The 2021 commercial lease was granted subject to all existing rights and matters affecting the freehold title and Oldhill’s lease was noted on that title at the date of grant. The purchaser at auction will be taking subject to any claim that Oldhill as tenant of the 999 year may have or seek to bring. Copies of the correspondence from Oldhill’s solicitors and Pinsent Masons LLP’s acknowledgement of such correspondence are now available within the legal pack.

Lot 9

11a Devonshire Road, Chiswick, London, W4 2EU

A letter has been received from the neighbouring Owner’s solicitors, Moore Barlow LPP s regarding their Client’s proposed commencement of the building works to be undertaken at the neighbouring property. A copy of the letter is available within the Legal Pack.

The residential tenant of the maisonette on part first and Second floor has now determined the Assure Shorthold tenancy and both residential units are now being offered with Vacant Possession. Therefore, the property currently produces a total income of £40,000 per annum exclusive with two vacant residential units to be let.

Lot 14

Former Co-op Supermarket (now B&M), Hams Road,, Lydney, near Chepstow, Gloucestershire, GL15 5PE

Please note that the Property is arranged on the ground floor only and not on the ground & first floors as stated in the auction particulars.

Lot 15

B&M, 66-68 High Street, Weston-Super-Mare, Somerset, BS23 1HS

As to the first floor, approximately 5,000 sq. ft. (464.50 sq. m.) of accommodation has been mothballed by the tenant. This area has not been included in the Valuation Office Agency (VOA) areas as stated in the tenancy and accommodation schedule in the particulars of sale. The remainder of the first floor continues to be utilised by the tenant.

The floor areas are for use as a guide only and do not form part of the contract of sale.

Sold prior to auction.

Lot 16

Unit 10 Athlone Road, Warrington, Cheshire, WA2 8JJ

As to the occupational lease in favour of Rix Motor Company Limited, the term is 10 years from 16th February 2018 until 15th February 2028 and not as stated in the auction particulars.
Sold prior to auction.

Lot 17

1 Edison Court, Pinchbeck, Spalding, Lincolnshire, PE11 3FX

The new lease referred to within the auction sale particulars has been completed upon the terms mentioned therein. A copy of the lease has been added to the legal pack.

Lot 18

APV House, Speedwell Road, Newcastle Under Lyme, Staffordshire, ST5 7RG

The buyer is not required to pay to the Seller any arrears of service charge on completion of the sale of the lot. For clarity the property comprises accommodation with floor areas published by www.voa.gov.uk as detailed below and not as stated in the auction particulars.

Floor  Use Floor Areas Sq m Floor Areas Sq ft
Ground floor – Suite 1 Office 182.63 1,966
Ground – Suite 2 Office 192.40 2,071
Ground – Suite 3 Office 110.30 1,187
Ground – Suite 4 Office 91.03 980
Ground – Suite 5 Office 399.21 4,297
First – Suite 6-8 Office 779.43 8,390
Second – Suite 9 Office 655.50 7,055
Second – Suite 10 Office 247.85 2,668
Total Approximate Floor Area   2658.35 28,612

The floor areas are for use as a guide only and do not form part of the contract of sale.

Lot 20

70 Monarch Parade, London Road (A217), Mitcham, London, CR4 3HB

Withdrawn prior to the auction

Lot 38

Holiday Inn and Holiday Inn Express, Parkway East, Bridge of Don, Aberdeen, AB23 8BL

The following response is being provided for the benefit of the Seller and can only be relied upon by the Seller and may not be relied upon by any third parties who should take their own legal advice.

The Companies Act 2006 (section 1012) states that when a tenant company is dissolved, its interests, including any interest in leasehold property, falls to the Crown as those interests become ownerless property. In Scotland, the Crown is represented by the KLTR (King''s and Lord Treasurer''s Remembrancer).

The KLTR must be given an opportunity to decide whether it wants to retain the leasehold property or reject (disclaim) it. In most instances, the KLTR disclaims the property. Once the KLTR has disclaimed the lease and issued a Notice of Disclaimer, or the lease has been irritated with the KLTR as the tenant, the lease is terminated. The effect of the Notice of Disclaimer is that the now dissolved company''s interests as tenant in the property are terminated. The Notice will be published in the Edinburgh Gazette

Lot 41

Unit C, Victoria House, Market Square, Shipley, West Yorkshire, BD18 3QB

Sold prior to auction.

Lot 43

32/34 Bridge Street, Swindon, Wiltshire, SN1 1BP

In respect of the approximate floor areas, please note that the approximate total gross internal floor area for the ground/first floor should read 492.86 sq m (5,305 sq. ft.) and not as stated in the auction particulars. Please note that the approximate floor areas do not form part of the Contract of Sale.