Acuitus 11/07/2018 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 11 July 2018

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

63 High Street, Lewes, East Sussex, BN7 1XQ

Please remove reference to Prezzo as a nearby occupier.

Lot 3

17 Market Place, Blandford Forum, Dorset, DT11 7AG

The boundary plan on page 13 of the auction catalogue does not accurately identify the property. Please refer to the title documents available in the legal pack.

Lot 4

52 South Street, Romford, Essex, RM1 1RB

In respect of the third floor, please note the approximate floor area is 31.12 sq m (335 sq ft) and not as stated in the auction catalogue. The total approximate area therefore is 262.81 sq m (2,829 sq ft).

Lot 5

132 High Street, Royal Wootton Bassett, Wiltshire, SN4 7AY

With regards to the plan on page 15, please note the plan does not show the full extent of the property to be sold. A Title plan showing the full extent of the property to be sold is available within the legal pack.

Lot 6

KFC Drive-Thru, Unit 4, Penn Road Retail Park, Penn Road, Wolverhampton, West Midlands, WV2 4NJ

The site provides 32 marked car parking spaces and not as stated on page 17 of the auction catalogue.The Jaguar Land Rover car dealership to the north of the site is near completion and due to open in Autumn 2018.

Lot 7

Iceland, Unit 5, 88 Spring Gardens, Buxton, Derbyshire, SK17 6BZ

97 – 103 Spring Gardens is now occupied by McColls and Subway. Please therefore remove reference to Co-operative Food as a nearby occupier on page 19 of the auction catalogue.

Lot 9

HSBC Bank, Wellington Square, Minehead, Somerset, TA24 5LH

Sold prior to auction.

Lot 10

23 Bridge Street, Stratford-upon-Avon, Warwickshire, CV37 6AD

Withdrawn prior to auction.

Lot 11

20 High Street, West Wickham, London Borough of Bromley, Kent, BR4 0NS

With respect to the residential flat, please note the accommodation provides six rooms, a bathroom and kitchen arranged on part first and second floors. We understand the flat has been sublet.

With reference to the street traders plan, 32-34 High Street now trades as Costa Coffee.

Lot 12

29 Galgate, Barnard Castle, County Durham, DL12 8EJ

With regards to the plan on page 25, please note the plan does include a small area, not included within the property to be sold. A Title plan showing the full extent of the property to be sold is available within the legal pack.

Lot 16

31 New Canal, Salisbury, Wiltshire, SP1 2AA

Withdrawn prior to auction.

Lot 17

Units 15-17 St Hilary Trade Park, Hardwick Road, King's Lynn, Norfolk, PE30 4NA

Withdrawn prior to auction.

Lot 18

Units 19 St Hilary Trade Park, Hardwick Road, Kings Lynn, Norfolk, PE30 4NA

Withdrawn prior to auction.

Lot 20

31 Market Place, Great Yarmouth, Norfolk, NR30 1LX

Please note the following changes to the approximate floor areas as advertised in the auction catalogue :

Floor Sq m (sq ft)
Ground 92.89 sq m (1,000 sq ft)
Basement - (-)
First 65.22 sq m (702 sq ft)
Second 81.01 sq m (872 sq ft)
Third 42.90 sq m (462 sq ft)
Total 282.04 sq m (3,036 sq ft)

Please note that the first floor accommodation should be described as ‘’Ancillary’’ and not ‘’Retail/Ancillary’’ as stated in the auction particulars.

Lot 21

The Centre for Health and Disability Assessments, Unit A The Quadrant, 213 - 217 The Broadway, Wimbledon, London, SW19 1NL

The floor areas stated in the catalogue include a plant room and WC''s. Please also note that the accommodation benefits from suspended ceilings, recessed lighting and raised floors.

Lot 23

311 Hale Lane, Edgware, London, HA8 7AY

The term of the Assured Shorthold Tenancy agreement for the residential maisonette is 12 months from 18th March 2018 until 17th March 2019 and the property comprises accommodation as detailed below and not as stated in the Tenancy and Accommodation schedule on page 39 of the auction catalogue.

    Sq m Sq ft
Ground floor Retail 154.06 1658
First Floor 2 rooms and kitchen 28.16 303
Second Floor 2 bedrooms 20.74 223
Total Approximate Floor Area   202.96 2184

As to the commercial unit, the tenant has commenced fitting out works.

Lot 24

Piran House, Nettells Hill, Redruth, Cornwall, TR15 1SL

The current rental income is £238,090 p.a.x and not as stated on pages 40 and 41 of the auction catalogue page. As to note 2 below the tenancy and accommodation schedule, the rent will therefore increase to a minimum of £241,661.35 p.a.x. from 31/03/2019 and £245,286.27 p.a.x. from 31/03/2020 rising annually to a minimum of £284,664.73 p.a.x. by 31/03/2030.

Lot 30

Lloyds TSB, 58 Queens Road, Clifton, Bristol, BS8 1RE

The second floor provides an approximate floor area of 116.69 sq m (1,256 sq ft) and not as stated. The total approximate floor area for the building is therefore 635.76 sq m (6,843 sq ft). Please remove reference to a fourth floor.

Lot 31

7-9 Palace Avenue, Paignton, Devon, TQ3 3ED

Please remove reference to Peacocks as a nearby occupier in the bullet points on page 50 of the auction catalogue.

Lot 32

6 Ouse Drive, Wetherby, North Yorkshire, LS22 7UQ

Sold prior to auction.

Lot 35

16 / 17 Market Square, Buckingham, Buckinghamshire, MK18 1NW

For the purpose of clarification, the ground floor provides retail and ancillary accommodation. The total floor area stated on page 55 of the auction catalogue refers to the total floor area for the retail unit only and does not include the residential accommodation.

Lot 36

30A East Street, Chichester, West Sussex, PO19 1HS

Sold prior to auction.

Lot 37

25 High Street, Coleford, Nr. Monmouth, Gloucestershire, GL16 8HA

Please note that the tenant of this Property is Tesco Stores Limited and not T&S Stores Limited as stated in the auction catalogue. In respect of footnote (1), please note that for the year to 02/2017, Tesco Stores Limited reported a turnover of £40.134 billion, pre-tax profits of £266 million and a total net worth of £749 million (Source: Experian Group 20/6/2018)

Lot 38

48 - 50 South Street, Romford, Greater London, RM1 1RB

In respect of the part ground, part first and second floors, a new 5 year lease from 5th August 2018, has been agreed at a rent of £30,000 per annum with Hair Growth Centre Limited. Hair Growth Centre Limited have recently purchased Medical Hair Centre Limited, the current tenant. Solicitors have now been instructed to draft a new lease. The total rent will therefore be £130,000 per annum, on completion of the new lease.

Please note the approximate second floor area should read 45.52 sq m (490 sq ft), and not as stated in the auction catalogue. The total commercial floor area therefore should state approximately 668.88 sq m (7,200 sq ft), and not as stated in the auction catalogue.

Lot 39

2-3 Market Place, Chippenham, Wiltshire, SN15 3HE

The property benefits from a large yard to the rear which provides parking for approximately 7 cars and not as stated on page 60 of the auction catalogue.

Lot 40

Costa Coffee, Old Fore Street, Sidmouth, Devon, EX10 8LP

Please note that the property is Grade II listed.

The boundary plan on page 61 of the auction catalogue does not accurately identify the property being offered for sale. Please refer to the title plans available in the legal pack.

Lot 41

3 East Grove, Cromer, Norfolk, NR27 0BL

Sold prior to auction.

Lot 43

22 Woodside Industrial Park, Works Road, Letchworth Garden City, Hertfordshire, SG6 1LA

Sold prior to auction.

Lot 47

37 Watling Avenue, Burnt Oak, London, HA8 0LF

Sold prior to auction.

Lot 49

192 / 194 Whitehall Rd, Leeds, West Yorkshire, LS12 4AR

Sold prior to auction.

Lot 50

38 - 40 Broad Street, Kings Lynn, Norfolk, PE30 1DP

Withdrawn prior to auction.

Lot 51

10 Town Road, Hanley, Stoke-on-Trent, Staffordshire, ST1 2QG

This property was formerly occupied by Co-Op Bank who vacated the property approximately three years ago. The property is in need of refurbishment, and it has not been possible to view the basement due to flooding.

Lot 53

2/3 Silver Street, Trowbridge, Wiltshire, BA14 8AA

With regards to the plan on page 76, please note the plan does not show the full extent of the property to be sold. A Title plan showing the full extent of the property to be sold is available within the legal pack.

Lot 56

231 High Street, Acton, London, W3 9BY

Please note the lease of unit 231 let to Individuals t/a Lebara Mobile & Khaneja Food and Wine is for a term of 16 years from 21/12/2005 until 20/12/2021 and not as stated on page 79 of the auction catalogue.

Lot 57

Plot D Mill Place Trading Estate, Gloucester, GL1 5SQ

Whilst the User clause in the lease states ”… car parking and light storage in connection with the Lessees’ business” please note that Lot 57 / Plot D is used for Car Parking and not as stated in the Tenancy and Accommodation schedule on page 81 of the catalogue. Bidders are deemed to have bid with full knowledge thereof.

A new Extra Special Condition 34 on page 18 shall be added to the Auction
Conditions as follows:

"34. The local search has been submitted but the Seller is awaiting
the result of the local search and will provide this to the Buyer
as soon as reasonably practicable upon receipt from the local
authority. The Buyer:
34.1 shall not require the Seller to obtain any no search indemnity
insurance for the lack of a local search result for the Lot;
34.2 shall not raise any requisitions, objections, claims for
damages, compensation, rescission or refuse to complete the
purchase on any grounds whatsoever including (without
limitation) the lack of a local search result being provided by
the Seller.
34.3 acknowledges and agrees that it has taken into account the
terms of this clause 34 and shall not be able to annul the
Transfer nor seek to abate or reduce the price in relation
thereto."

Lot 58

Plot E Mill Place Trading Estate, Gloucester, GL1 5SQ

Whilst the User clause in the lease states ”… car parking and light storage in connection with the Lessees’ business” please note that Lot 58 / Plot E is used is mainly a grassed area with some car parking and not as stated in the Tenancy and Accommodation schedule on page 81 of the catalogue. Bidders are deemed to have bid with full knowledge thereof.

A new Extra Special Condition 35 on page 18 shall be added to the Auction
Conditions as follows:

"35. The local search has been submitted but the Seller is awaiting
the result of the local search and will provide this to the Buyer
as soon as reasonably practicable upon receipt from the local
authority. The Buyer:
35.1 shall not require the Seller to obtain any no search indemnity
insurance for the lack of a local search result for the Lot;
35.2 shall not raise any requisitions, objections, claims for
damages, compensation, rescission or refuse to complete the
purchase on any grounds whatsoever including (without
limitation) the lack of a local search result being provided by
the Seller.
35.3 acknowledges and agrees that it has taken into account the
terms of this clause 35 and shall not be able to annul the
Transfer nor seek to abate or reduce the price in relation
thereto."

Lot 59

Plot F Mill Place Trading Estate, Gloucester, GL1 5SQ

Whilst the User clause in the lease states ”… car parking and light storage in connection with the Lessees’ business” please note that Lot 59 / Plot F is hardstanding used as storage and not as stated in the Tenancy and Accommodation schedule on page 81 of the catalogue. Bidders are deemed to have bid with full knowledge thereof.

A new Extra Special Condition 37 on page 18 shall be added to the Auction
Conditions as follows:

"37. The local search has been submitted but the Seller is awaiting
the result of the local search and will provide this to the Buyer
as soon as reasonably practicable upon receipt from the local
authority. The Buyer:
37.1 shall not require the Seller to obtain any no search indemnity
insurance for the lack of a local search result for the Lot;
37.2 shall not raise any requisitions, objections, claims for
damages, compensation, rescission or refuse to complete the
purchase on any grounds whatsoever including (without
limitation) the lack of a local search result being provided by
the Seller.
37.3 acknowledges and agrees that it has taken into account the
terms of this clause 37 and shall not be able to annul the
Transfer nor seek to abate or reduce the price in relation
thereto."

Lot 60

73 Kingsway, Boston, Lincolnshire, PE21 0AR

Sold prior to auction.

Lot 61

The Bloomery, Nile Street, Broomhill, Sheffield, South Yorkshire, S10 2PQ

The property comprises the following gross internal floor areas:-

Floor Use sq m sq ft
Ground Public House 365.50 3,934
First Ancillary 301.50 3,245
Total   667 7,179

With regards to the street traders plan, 211 Whitham Road is vacant and not as stated.

Lot 62

83 Hurlingham Road, Walton, Liverpool, Merseyside, L4 9SP

Sold prior to auction.

Lot 64

21 /21a The Broadway, Tolworth, Surbiton, KT6 7DJ

As to the lease in favour of Pizza Gogo Limited, the Deed of Variation dealing with the Rent Review effective 23 October next, and removing the Tenant’s 2023 Break Option, has been completed. A copy of the Deed of Variation is available within the legal pack.

Lot 66

183 King Street, Great Yarmouth, NR30 1LS

The completion date for the sale of this lot is 16th August 2018 and not 6 weeks as stated on page 88 of the Auction catalogue.

Lot 67

2 Castle Street, Thornbury, Bristol, BS35 1HB

Please note that as to the tenancy and accommodation schedule the AST for Flat 1 is for a term of 6 months from 06/04/2015 at £6,360 p.a.x. and the AST for Flat 2 is for a term of 6 months from 22/11/2016 at £6,780 p.a.x. Both residential tenants are holding over. The total rental income for the property is therefore £25,640 p.a.x. and not as stated on page 89 of the auction catalogue.

Lot 68

Meighs & Westleys Limited, Campbell Road, Stoke on Trent, Staffordshire, ST4 4ER

Sold prior to auction.

Lot 69

91 Queen Street, Morley, Leeds, LS27 8EF

The Seller and Tenant have agreed the Licence to Alter dated 3rd July 2018, a copy of which is available in the Legal Pack.

Lot 70

1 & 3 High Street, Ramsgate, Kent, CT11 9AD

Please remove reference to Superdrug as a nearby occupier.

Lot 71

25, 27 & 31 Newbottle Street, Houghton-le-Spring, Tyne & Wear, DH4 4AP

With regards to the plan on page 94, please note the plan does include a small area not included within the property to be sold. A Title plan showing the full extent of the property to be sold is available within the legal pack.

Lot 73

217B High Street, Bangor, Gwynedd, LL57 1NY

As to the description paragraph on page 96 of the auction catalogue, please note that there is currently no internal access between the first and second floors and the property does have a basement, the majority of which has been bricked off and is accessed from the rear of The Waterloo Inn PH, Waterloo Street and has been let to Hadlow Finance Limited for a term of 999 years from 17th June 1985 at a peppercorn rent.

Lot 75

Unit A, South Orbital Trading Park, Hedon Road, Kingston-upon-Hull, East Yorkshire, HU9 1NB

Please note the first floor as described in the auction catalogue, is a mezzanine installed by the tenant.

Lot 76

Unit 3-5 Hillside Road, Portlethen, Aberdeen, Aberdeenshire, AB12 4TQ

The settlement date will be 4 weeks from the date of the auction and not 6 weeks as detailed on page 99 of the auction catalogue.

Lot 78

16 / 20 Front Street, Chester le Street, County Durham, DH3 3DE

With regards to the plan on page 101, please note the plan does not show the full extent of the property to be sold. A Title plan showing the full extent of the property to be sold is available within the legal pack.

Lot 80

7 / 11 Piccadilly, Hanley, Stoke-on-Trent, Staffordshire, ST1 1DG

The tenant has vacated the Property. The June quarter rent has yet to be paid. The tenant’s obligations under the terms of the lease continue.

Please note the property has the following approximate floor areas, and not as stated in the auction particulars:

Ground Retail/Ancillary 213.94 sq m (2,303 sq ft)
Basement Ancillary 15.14 sq m (163 sq ft)*
First Retail/Ancillary 215.06 sq m (2,315 sq ft)
Second Ancillary 242.84 sq m (2,614 sq ft)
Total 686.99 sq m (7,395 sq ft)

*The VOA confirms the basement area to be 110.20 sq m (1,186 sq ft).

Lot 83

217 High Street, Bangor, Gwynedd, LL57 1NY

As to the description paragraph on page 106 of the auction catalogue, please note that there is currently no internal access between the first and second floors.

Lot 84

11 St. Helens Road, Unit D & Unit E Ty John Penri, Swansea, West Glamorgan, SA1 4AL

For the purpose of clarification, please note that the current rental income is £15,000 p.a.x. (gross) which equates to £14,750 p.a.x. (net) once the £250 p.a. head rent has been taken into consideration.

Lot 85

17/23 Bank Street & 1-3 Anderson Street, Airdrie, North Lanarkshire, ML6 6AF

Please note that settlement will occur the later of 8 weeks from the auction date or 5 days following consent from the Head landlord to an assignment of the long leasehold interest and not 6 week completion as detailed on page 108 of the auction catalogue, Further detail can be found in the Articles of Roup within the legal pack for this property.

Lot 87

22, 23, 26 & 27 The Springs, Wakefield, West Yorkshire, WF1 1ED

26 The Springs now trades as Magasin Acasa and as stated on page 110 of the auction catalogue.

Lot 88

Car Park at rear of Unit D, Motorway Link Industrial Estate, Venture Crescent, Alfreton, Derbyshire, DE55 7RA

In relation to the tenancy and accommodation schedule, please note the property was let to Co-operative Group Limited from 01/07/2012 until 30/06/2016 at a rent of £8,000 p.a.x. This lease was assigned to Yodel Delivery Network Limited via a Deed of Assignment dated 20/03/2015. Subsequently Yodel Delivery Network Limited signed a renewal lease from 01/07/2016 until 30/06/2020 at a rent of £8,000 p.a.x. Please see the legal pack for further information.

Lot 90

135 High Street, Lochee, Dundee, DD2 3BX

As to the tenancy and accommodation schedule, the approximate floor area is 88 sq m ( 948 sq ft ) and not as stated on page 113 of the auction catalogue.