Acuitus 13/07/2023 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 13 July 2023

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

Papa John's, 3 Odeon Parade, Eltham, London, SE9 6BZ

Sold prior to auction.

Lot 2

Oxfam, 10 Catherine Street, Salisbury, Wiltshire, SP1 2DA

Please note that, in the Tenancy & Accommodation schedule in the auction particulars, the tenant trades from the first floor.

Lot 4

Betfred, 2 Odeon Parade, Eltham, London, SE9 6BZ

Sold prior to auction.

Lot 5

74 Mitcham Road, Tooting, London, SW17 9NA

Please note, the residential accommodation is currently arranged with a 1 bedroom flat on part first floor (comprising 35.02 sq m (377 sq ft)) and a 2 bedroom maisonette on part first floor and second floor (comprising 68.89 sq m (741 sq ft)) and not as stated in the auction particulars of sale.

The floor areas stated above are for use as a guide and should not be relied upon and do not form part of the contract of sale.

Lot 8

Odeon Cinema, 15 New Canal & 26 Catherine Street, Salisbury, Wiltshire, SP1 2AA

Please note that, under the terms of the lease, the next rent review will take place in 2031 (and 21 yearly thereafter), and not in 2027 as stated in the Tenancy & Accommodation schedule in the auction particulars-please see lease in the legal pack.

Lot 9

Charles Fox Jewellers, 21/22 Bournemouth Arcade, Bournemouth, Dorset, BH1 2AH

The orange outline on the street traders plan in the auction particulars is inaccurate -please see title plan in the legal pack for the full extent of the demise being sold.

Under ‘’Description’’ in the auction particulars, please note the property comprises a large double fronted shop, with workshop and ancillary accommodation arranged on the ground, basement, sub-basement, first and second floors. The basement & second floors comprise workshop/ancillary areas. The sub-basement area is approximately 46.55 sq m (501 sq ft), meaning the approximate total area should read 461.35 sq m (4,965 sq ft). The approximate floor areas do not form part of the Auction Sale Contract.

Lot 12

91-99 High Street, Pathtrace House, Banstead, Surrey, SM7 2NL

For the avoidance of doubt, as to the 2nd floor office tenant, TRG LOGISTICS LIMITED changed name to CHALLENGE-TRG RECRUITMENT LIMITED (CRN 03974669) (https://find-and-update.company-information.service.gov.uk/company/03974669).

Lot 14

35-37 High Street, and 7 Trinity Square, Colchester, Essex, CO1 1DH

For the avoidance of doubt, Flat 3 is on a periodic tenancy at a current rent reserved of £700 per month and not as stated in the tenancy and accommodation schedule and footnote (5) in the auction particulars of sale.

As to the ground floor retail unit at 7 Trinity Square, the new lease has been agreed in the form uploaded in the auction pack. The Seller will use reasonable endeavours to procure that the lease is completed by the contractual completion date. Any changes to the lease from the form uploaded to the auction pack will be agreed with the Buyer before the lease is finalised.

Lot 16

Alpha Court,, Monks Cross Drive, York, North Yorkshire, YO32 9WN

Sold prior to auction.

Lot 17

New Look, 7-11 Blake Street & Unit 4 Stonegate Walk, York, YO1 8QJ

The buyer will be required to enter into a deed of covenant to comply with the provisions of clauses 8 and 10 of the transfer dated 18 January 1999 (a copy of which is included in the auction pack). There is a restriction on title NYK215260, that restriction relates to the entering into of such deed of covenant but the certificate required to satisfy the restriction is to be provided by the registered proprietor of the title with the benefit of the covenant (Threadneedle Pensions Limited), or its solicitor, not the seller. The seller has made initial contact with Threadneedle to put them on notice, but the certificate may not be available on completion.

Lot 18

26 Deansgate & 8/12 Bridge Street, Bolton, Greater Manchester, BL1 1BG

Please note that in the Tenancy & Accommodation schedule, the basement area should be referred to as ‘’Sales/Ancillary’’ as the tenant trades from the basement. The first & second floors however should be referred to an ‘’Ancillary’’ only. Please remove all references to Marks & Spencer being a nearby retailer.

Lot 21

Printers London, 4 Odeon Parade, Eltham, London, SE9 6BZ

Sold prior to auction.

Lot 24

Pizza Hut Delivery, 1 Odeon Parade, Eltham, London, SE9 6BZ

Sold prior to auction.

Lot 25

Medina Auto & Auto Express, Medina Dairy, White Hart Road, Slough, Berkshire, SL1 2SF

Please note the floor areas stated within the Tenancy and Accommodation schedule are stated incorrectly. The floor areas published by the Valuation Office Agency (www.voa.gov.uk) are as follows:

Medina Autos Workshop/Office 204.01 sq m (2,195 sq ft)
Auto Express Workshop/Office 215.65 sq m (2,321 sq ft)
Total Approximate
Floor Area

419.66 sq m (4,516 sq ft)

The floor areas stated above are for use as a guide and should not be relied upon and do not form part of the contract of sale. Sold prior to auction

Lot 26

803, 804 and 805 Central Park Industrial Estate, Petherton Road, Bristol, BS14 9BZ

As to the Tenancy and Accommodation schedule and footnote (2) with regard to Unit 803, Eco Hygiene Care Limited has decided not to proceed with the letting and therefore the Unit 803 is being offered for sale with Vacant Possession. Therefore, the property is currently producing £26,500 per annum exclusive with Unit 803 to be let

Lot 27

Units A, B & C, Electric Estate, Stores Road, Derby, Derbyshire, DE21 4BD

As to Unit A the current rent reserved under the terms of the lease is £30,000 per annum exclusive, therefore the property produces a total income of £81,500 per annum exclusive and not as stated in the tenancy and accommodation schedule in the auction sales particulars. As to Lot 27, the property comprises approximate Gross Internal Areas as stated below and not as stated in the Tenancy and Accommodation schedule in the auction particulars,

Building Floor Use Sq M Sq ft
Unit A Ground Industrial 553.34 5,956
Unit B Ground Industrial 567.76 6.111
Unit C Ground Industrial 712.84 7,673
Total Approximate Floor Area     1,833.94 19,740

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

Lot 29

3-7 New Canal, Salisbury, Wiltshire, SP1 2AA

Under ‘’Description’’ in the auction particulars, please note that the property comprises two shops (one let & one double-fronted vacant unit), along with vacant accommodation above. The let shop (Sofas & Stuff) trades from both the ground & majority first floor & the vacant shop is arranged on the ground floor and basement. The vacant accommodation is arranged on the part first, second, third & fourth floors. Please note the approximate floor areas in the Tenancy & Accommodation schedule should read as follows:

3/3a New Canal (Vacant Shop) Ground Basement Retail/Ancillary Ancillary 139.18 sqm       Not measured (1,498 sq ft)       Not measured
7 New Canal (Sofas & Stuff) Ground First Retail/Ancillary Retail/Ancillary 245.60 sqm  345.83 sqm (2,643 sq ft)  (3,722 sq ft)
Vacant Accommodation Second              Third               Fourth - 259.22 sqm  242.92 sqm  199.31 sqm (2,790 sq ft)  (2,615 sq ft)  (2,145 sq ft)

The total approximate floor area therefore should read 1432.06 sq m (15,414 sq ft). Please note the vacant accommodation approximate areas are Gross Internal areas. Please note that the floor areas stated above do form part of the auction contract of sale.

Lot 30

5-8 St Nicholas Street, Truro, Cornwall, TR1 2RL

As to the tenancy schedule, please note Number 8 Hairdressing Limited are occupying the property on an undocumented basis and not as stated in the auction particulars. They have been paying a rent of £9,500 per annum.

Lot 31

117/117a High Street, Southend, Essex, SS1 1LQ

Please note that the Sushi Restaurant is now shop-fitting and is targeting an opening by the end of August. The first floor of the Sushi Restaurant will be office/ancillary accommodation, and not trading space. Please note that the approximate floor areas for the River Island should read:

Ground Retail/Ancillary 255.23 sqm (2,747 sq ft)
First Retail/Ancillary 250.25 sqm (2,694 sq ft)
Second Ancillary 360.86 sqm (3,884 sq ft)

Please note the approximate total area of the entire property therefore should read 11,658 sq ft, and not as stated. Please note that the approximate floor areas do not form part of the Auction Contract of Sale. Sold prior to auction.

Lot 32

Tesco Express, 42-46 Fargate, Sheffield, South Yorkshire, S1 2HE

Sold prior to auction.

Lot 34

Next, 54/56 Linthorpe Road, Middlesbrough, North Yorkshire, TS1 1RA

As to the description of the property, there is a substation on site let to Northern Electric Distribution Limited for a term of 60 years from 15/04/2005. A copy of the lease is available to view within the legal pack.

Lot 36

Calderwood Neighbourhood Shopping Centre, East Kilbride, Glasgow, G74 3BQ

Sold prior to auction.

Lot 37

87 to 91 High Street, Leicester, Leicestershire, LE1 4JB

As to the tenancy & accommodation schedule in the auction sales particulars, Safe Computing Limited are currently not in occupation of the upper parts of the property. The seller has not received an application to assign or sublet Safe Computing Limited’s demise and Safe Computing Limited have no arrears of rent or service charge.

Lot 39

Preston Lancaster Road, Scorton, nr Garstang, Preston, Lancashire, PR3 1AD

Please note that completion of this sale will be 30 working days from the Contract Date and not 20 working days as cited in the Special Conditions of Sale.

Lot 40

18A/18B Carolgate and 1-3 Exchange Street, Retford, Nottinghamshire, DN22 6BU

Please note that Jerry Green Dog Rescue are now open & trading at 3 Exchange Street. Please refer to the auctioneers for current photos now showing this tenant in occupation.

The Tenant of 18a Carolgate, Costa Limited, entered into a Deed of Variation with the Seller on 24 April 2023, which removed the Tenant’s Break Clause in the Lease. The Tenant therefore no longer has an option to break the lease in January 2024, and the lease runs without break until January 2028. The Seller is waiting for a copy of the completed Deed of Variation from the Tenant’s solicitors.

Lot 42

Charles Fox Jewellers, 20 Bournemouth Arcade, Bournemouth, Dorset, BH1 2AH

Please note the tenant is now shopfitting with an anticipated opening date by early September. In respect of the approximate floor areas in the auction particulars, the approximate ground floor area should read 56.76 sq m (610 sq ft) and the approximate first floor area should read 55.03 sqm (592 sq ft). The second floor is currently accessed via a hatch and has not been measured. The tenant does not intend to use the second floor. Please note that the approximate floor areas do not form part of the Auction Contract of Sale.

Lot 44

3-4 Market Jew Street, Penzance, Cornwall, TR18 2HN

Sold prior to auction.

Lot 45

138 Commercial Street, Maesteg, CF34 9DW

Please note that the EPC rating for this property is Band C and not as stated in the auction particulars. A copy of the EPC has been uploaded to the legal pack.

Lot 46

Aberaman Surgery, Glamorgan Street, Aberaman, Aberdare, CF44 6SR

The new lease of the Property has been agreed with the Tenant in the form uploaded to the auction pack. The Seller will use reasonable endeavours to procure that the lease is completed by the contractual completion date. Any changes to the lease from the form uploaded to the auction pack will be agreed with the Buyer before the lease is finalised.

Lot 47

6-8 Church Street, Gainsborough, Lincolnshire, DN21 2JH

Please note that completion of this sale will be 30 working days from the Contract Date and not 20 working days as cited in the Special Conditions of Sale in the Legal Pack.

Lot 51

135 High Street, Perth, PH1 5TJ

The “missives” (which constitute the contract for termination of the existing lease and grant of the new lease to Clarks) have been uploaded to the legal pack portal. Those missives create a legally binding contract between Gatsby Retail Limited (as landlord) and C. & J. Clark International Limited (as tenant) and bring the new lease terms into effect, even though the lease has not yet been signed.

Fully signed lease documents are anticipated to be available for the sale completion date, but if there is a delay, there is an the ability within the articles of roup for Gatsby Retail Limited to assign their interest in the missives to a new owner of the property if required.

For the avoidance of doubt, the Gatsby Retail Limited''s title (and the leased demise) is of the whole premises on the ground floor, first floor and attic premises and not as described in the auction details.
Sold prior to auction.

Lot 52

48 King Street, Kilmarnock, KA1 1NP

Sold prior to auction.