Acuitus 18/10/2018 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 18 October 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

32 Gloucester Road, Ross-on-Wye, Herefordshire, HR9 5LF

Please remove reference to a garden. The property benefits from space to park 7 cars in tandem.

Lot 2

55 Market Place, Richmond, North Yorkshire, DL10 4JH

The Property is currently undergoing improvement works, at the tenant’s expense, to include external improvement to doors and windows, internal improvement to include ceiling tile replacement, decorations and windows and banking hall works to include re-applying wall coverings and decorations to walls and woodwork. Planning Permission and Listed Building consent was granted on 27th September 2018 to undertake these works and a full list of improvements can be found at Richmondshire District Council website (www.planning.richmondshire.gov.uk).

Please note there is car parking for about 7 cars to the rear and not as stated in the auction particulars. The second floor of the property is a former staff flat and not offices as stated in the auction particulars.

Lot 3

2 Market Place, Wymondham, Norfolk, NR18 0AP

Please note that the first floor accommodation referenced in the tenancy and accommodation schedule and in the description paragraph on page 13 of the auction catalogue should refer to basement accommodation and not first floor accommodation.

Lot 4

119a High Street, Marlborough, Wiltshire, SN8 1LZ

Please delete reference to NatWest Bank as a nearby occupier.

Lot 8

127 High Road, Ilford, Greater London, IG1 1DE

The first and second floor ancillary accommodation are self contained and to which the only access is via an external staircase at the rear of the property. The upper parts may be suitable for residential conversion, subject to consents.

Lot 9

1 Pate Road, Leicester Road Industrial Estate, Melton Mowbray, LE13 0DG

With regards to footnote (3) please note the 2022 rent review is to the Open Market Rental Value but not to exceed £87,000 per annum.

Lot 11

10 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 12

12 & 12a Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 13

14 - 14d Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 14

16 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 15

18 - 20 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 16

22 - 24 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 17

26 - 28 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 18

30 - 38 Birmingham Road, Sutton Coldfield, West Midlands, B72 1QQ

Sold prior to auction.

Lot 20

191/193 High Street, Southend- on - Sea, Essex, SS1 1LL

The boundary plan on page 31 of the auction catalogue does not accurately identify the property to be sold. The rear boundary should extend further back. Please refer to the title documents available in the legal pack.

As to the tenancy and accommodation schedule, please note the basement at 191 High Street of 80 sq m (861 sq ft) is not demised to Savers Health and Beauty Limited.

The basement area at 193 High Street is demised to Savers Health and Beauty Limited is 77 sq m (828 sq ft) and not as stated.

The Total Commercial Area is 387 sq m (4,165 sq ft).

With regards to the street traders plan, please delete reference to Post Office and note 177-179 now trades as Doner Kebab.

Lot 23

Rowland Hill Shopping Centre, Vicar Street, Kidderminster, Worcestershire, DY10 1DE

As to the Tenancy and Accommodation schedule on page 35 of the Auction catalogue please note the following.

• Unit 5 is currently occupied by SM Electronics Limited at a current rent of £5,000 per annum
• As to unit 18b, the lease started on 1st March 2013 and not as stated.
• The total rents reserved is £342,000 per annum and not as stated.

Lot 24

11-12 Fore Street, Ivybridge, Devon, PL21 9AB

Sold prior to auction.

Lot 25

21 Market Place, Gainsborough, Lincolnshire, DN21 2BU

Please remove reference to Natwest in the bullet points and situation paragraph on page 37 of the auction catalogue. The property also provides ancillary basement accommodation.

Lot 26

Merrington Lane Industrial Estate, Spennymoor, County Durham, DL16 7XL

Please note the photograph of the office accommodation on the bottom left hand side of page 38 of the catalogue page does not form part of the sale. The photograph of the single industrial unit on page 38 of the catalogue page, occupied by DS Smith, is a tenants improvement.

DS Smith Corrugated packaging Limited has requested to assign their lease by way of an authorised guarantee agreement to DS Smith Foams UK Limited, a subsidiary of DS Smith (UK) Limited. Please refer to the legal pack for further information.

Note 4 of the tenancy and accommodation schedule is not correct. The vendor and PS Managed Solutions Limited have entered into a tenancy at will which is available in the legal pack. The tenancy at will provides for PS Managed Solutions to occupy the unit at a rent of £8.14 per day (inclusive of service charge and insurance) (subject to increase in accordance with the terms of the tenancy at will) and bear full rates liability for the unit. Please refer to the legal pack for further information. The tenant is in occupation of the unit. The vendor and tenant have agreed additional rent payable of £3,500 p.a. pursuant to the tenancy at will from 24 June 2018 and the tenant will expand to 12,000 feet.

Lot 28

17 The Marsh, Hythe, Southampton, Hampshire, SO45 6ZB

Please delete reference to NatWest Bank and Subway as nearby occupiers. Please delete reference to car parking to the rear

Lot 31

Castleton Court and Transtech House, Fortran Road, St Mellons, Cardiff, CF3 0LT

The lease in respect of Unit 5b contains a tenant’s option to break. Please refer to the lease within the legal pack.

The auctioneers did not inspect Units 1, 6 and 8a/8b of Castleton Court. Please remove reference to Lloyds Bank as an occupier on the business park in the situation paragraph on page 45 of the auction catalogue.

Lot 35

22 Cheapside, Lancaster, LA1 1LZ

The tenant is not currently in occupation of the property.

Lot 36

158 Fenwick Road, Giffnock, Glasgow, G46 6XW

Withdrawn prior to auction.

Lot 41

69-71 Week Street, Maidstone, Kent, ME14 1QY

Please note the approximate floor area should read 273.13 sq m (2,940 sq ft), and not as stated in the auction catalogue. The property benefits from loading via a side access via St Faiths Street and not from the rear.

Lot 42

44a Selby Road, Wykebeck, Leeds, West Yorkshire, LS9 0JH

In the Tenancy & Accommodation schedule, please note the lease to Martin McColl Limited expires on 17/11/2034 and not 17/11/2032 as stated in the auction catalogue.

Please note the first floor is not voided. Please note the property has the following approximate gross internal floor areas, although at the time of our inspection, please note the Auctioneers were unable to inspect all of the first floor:

Floor Use Floor Areas (Approx)
Ground Retail 279.63 sq m (3,010 sq ft)
Ancillary 229.93 sq m (2,475 sq ft)
First Ancillary 298.67 sq m (3,215 sq ft)
Total 808.23 sq m (8,700 sq ft)

Lot 46

30 Queen Victoria Street, Reading, RG1 1TG

The following note should have been contained within the particulars on page 65 of the auction catalogue:

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Lot 48

15 Market Square, Biggleswade, Bedfordshire, SG18 8AS

Sold prior to auction.

Lot 49

26 Market Place, Sleaford, Lincolnshire, NG34 7SB

The basement accommodation is accessed via a hatch only.

Lot 52

336 - 340 High Road, Harrow Weald, HA3 6HT

The property is let to Individuals trading as Discount Direct and not as stated in the Tenancy and Accommodation schedule on page 73 of the Auction catalogue.

The bullet point on the top of page 72 of the Auction catalogue should read “Freehold Retail Investment” and not as stated.

The area of the first floor is approximately 131.40 sq ( 1414 sq ft ) and not as stated in the Tenancy and Accommodation schedule on page 73 of the auction catalogue. The total approximate floor area is 476 sq m (5123 sq ft) as stated in the Tenancy and Accommodation schedule.

Lot 53

69-77 Week Street, Maidstone, Kent, ME14 1RJ

The property benefits from loading via a side access via St Faiths Street and not from the rear.

Lot 54

90-96 East Street, Bedminster, Bristol, BS3 4EY

Please remove reference to Argos in the bullet points and within the situation paragraph on page 75 of the auction catalogue. The ground floor provides retail and ancillary accommodation. The property provides basement storage accommodation of approximately 578.73 sq m (6,229 sq ft). The total floor area for the property is therefore 2,031.81 sq m (21,870 sq ft).

Lot 56

52 Market Place, Boston, Lincolnshire, PE21 6LU

Please note that as referenced by the Deed of Variation dated 6th July 2018, the next rent review is on 25th March 2023 and not as stated in the auction catalogue.

Please note that the refurbishment works are due to complete on November 5th.

Please note the mezzanine level is not accessed from the rear of the Property. Please note the approximate floor areas should read as follows and not as stated in the auction catalogue:

Floor Use Floor Areas (Approx)
Ground Banking Hall/Ancillary 236.89 sq m (2,550 sq ft)
Basement Ancillary 19.50 sq m (210 sq ft)
Mezzanine Ancillary 10.68 sq m (115 sq ft)
First Offices/Ancillary 158.86 sq m (1,710 sq ft)
Second Ancillary 160.71 sq m (1,730 sq ft)
Total 586.65 sq m (6,315 sq ft)

Lot 57

12-14 Park Street, Walsall, West Midlands, WS1 1NG

Please note on the street trader’s plan in the auction catalogue that 53 Park Street, forming part of The Saddlers Shopping Centre, is not currently occupied.

Lot 58

Unit 3 Winnersh Fields Business Park, Gazelle CLoe, Winnersh, Berkshire, RG41 5HH

Please note the commencement of the lease Term is from and including 1/11/2011 and not as stated

Lot 61

Pydar Mews, Truro, Cornwall, TR1 2UX

As to unit 9, a new lease for a term of 6 years from 28th September 2018 until 27th September 2024 at an initial rent of £5,400 per annum exclusive has been completed. The new tenant is an individual and will trade as a Beautician. The lease provides for a tenant option to determine the lease on 28th September 2021. Therefore, the property now produces a total rent of £60,175 per annum exclusive and not as stated on pages 82 and 83 of the Auction catalogue.

Lot 62

Units 1 - 4, 44 - 52 High Street, Hounslow, Greater London, TW3 1NW

The bullet point on the top of page 84 of the Auction Catalogue should read “Virtual Freehold Retail and Leisure Investment” and not as stated.

As to unit 4, the guarantor Viva Fitness Solutions Limited were dissolved on 28th November 2017”

The tenant of Unit 1 has assigned the lease to UK Trade Zone Limited (CRN10194963) who is currently fitting out the unit 1.

As to unit 4, the tenant, Shoreditch Solutions Limited has written to the Seller advising that the tenant would like to renegotiate a new lease. A copy of the letter and the Seller’s response is available to view within the Sellers legal pack.

Lot 63

Putney Wharf Management Office, 14 Brewhouse Lane, Putney Wharf, Putney, London, SW15 2JX

Please note that the floor areas as stated on page 86 of the auction catalogue are approximate gross internal areas.

Lot 64

33 - 34 Fore Street, Trowbridge, Wiltshire, BA14 8EW

The ground floor provides retail and ancillary accommodation.

Lot 68

Wilko, Units 1 - 3, 7,9 & 11 Salter Row, Pontefract, West Yorkshire, WF8 1BA

Please delete all references to New Look being a neighbouring occupier in the bullet point, Situation paragraph and street trading plan on page 92 of the auction catalogue.

Lot 70

725 Capability Green Business Park, Luton, Bedfordshire, LU1 3LU

With regards to the tenancy and accommodation schedule and footnote (2) on page 95 of the auction, please note the CBRE Managed Services Limited option to break is 29th July 2019 not as stated.

With regards to Footnote (4) if Kids II (UK) Ltd, do not exercise the break option in 2023 then a 6 month rent free period applies.

Lot 72

68 Highgate, Kendal, Cumbria, LA9 4HE

Please note that the lease to St John’s Hospice Shops Limited is subject to a tenant only option to determine on 23rd August 2021.

Lot 75

BHF, 37 Blandford Street, Sunderland, Tyne and Wear, SR1 3JH

The lease is for a term of 10 years from 01/09/2017 until 30/08/2027 with a rent review and tenant option to determine on 01/09/2022, and not as stated on page 100 of the auction catalogue

Lot 76

36 High Street, Ramsgate, Kent, CT11 9AG

The ground floor is used for Retail and ancillary accommodation and not as stated in the tenancy and accommodation schedule on page 101 of the auction catalogue.

Lot 77

Government Buildings, Castle Street, Merthyr Tydfil, Wales, CF47 8TX

Please note VAT is NOT applicable to this lot and not as stated on page 102 of the auction catalogue.

With regards to the street traders plan the following amendments apply:-

115 High Street – Mind
68 High Street – Hair Salon
Vacant office/business opposite the property on Castle Street trades as Iron Dragon

Lot 78

Bank House, 72 - 82 Church Street, Eccles, Manchester, M30 0DA

Please note VAT is NOT applicable to this lot and not as stated on page 103 of the auction catalogue.

With regards to the Part first floor the use is Staff/Ancillary and not as stated

Lot 79

17 Carlis Road, Kirkby, Liverpool, Merseyside, L32 6QS

Please note the approximate floor area as stated in the auction particulars are gross internal.

Lot 80

2 Land of Green Ginger, Kingston-upon-Hull, East Yorkshire, HU1 2EA

Please note that the commercial unit is on ground floor only and comprises a total of 87.50 sq m (942 sq ft) accommodation and not as stated on page 105 of the auction catalogue. The 2 x two bedroom residential flats on the upper floors have not been measured and are accessed via an entrance way to the side of the property, over which two residential flats in the adjoining building also have rights of access. Please refer to the legal pack for further information.

Lot 82

35 High Street, Cheadle, Staffordshire, ST10 1AS

Please note that the lease was granted on 20th June 2007 to Barclays Bank Plc, company number 1026167. However, the Land Registry leasehold title (SF529654) shows the registered proprietor to be Barclays Bank UK Plc (company number 09740332); this is documented in the legal pack provided, and is a change made with the approval of the Seller.

Lot 84

128 Worplesdon Road, Guildford, Surrey, GU2 9RT

Please note the approximate floor area of the part let to Ladbrokes a stated in the auction catalogue is a gross internal area, with an approximate net internal floor area of 85.93 sq m (925 sq ft).

Lot 85

7 the Circle, Tredegar, Gwent, NP2 3PS

With regards to the Description paragraph and the Tenancy and Accommodation schedule, the basement is not used and a room at the rear of the ground floor is also not used. Both these areas not inspected by the auctioneers.

Lot 87

Market Walk Shopping Centre, Northampton, Northamptonshire, NN1 2DP

The Special Conditions of Sale provide for the Buyer to pay the Seller on the actual completion date a sum equal to arrears under any of the tenancies and for the Seller to assign to the Buyer the right to recover such arrears from the relevant tenants. An arrears report is available within the legal pack. The Buyer will not be required to pay any arrears due to the landlord of the Grosvenor Shopping Centre under the terms of the Lease of Rights referred to in the Special Conditions.

Lot 91

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

As to lot 91, please note that the total net floor area of the property is 988 sq m (10,635 sq ft) as stated in the tenancy schedule and not as detailed in the bullet points on page 117 Of the auction catalogue.

Lot 92

77-81 George Street, Altrincham, Greater Manchester, WA14 1RN

The tenant of Unit 81 is currently in the process of fitting out the unit, and as a result the auctioneers did not gain access. The approximate floor area for Unit 77-79 is as follows and not as stated on page 118 of the auction catalogue. The total floor area for the entire property is therefore 589.92 sq m (6,350 sq ft).

Floor Use Sq M (Sq Ft)
Ground/First Retail/Ancillary 317.63 sq m (3,419 sq ft)

Lot 94

Parkfield, Greaves Road, Lancaster, Lancashire, LA1 4TZ

Please note the Administrators have received correspondence dated 15th October 2018 from the tenant, HW Communications Limited stating it intends to terminate its lease from the 30th Nov 2018. The Administrators are not aware of and dispute that the tenant has grounds to terminate the lease. The Administrators replied to the tenant''s letter on 16 October 2018. Copy correspondence is available for inspection with the legal pack. Interested parties will not raise any requisitions here on.

Lot 95

9 High Street, Lampeter, Dyfed, SA48 7BQ

The Residential maisonette on the first and second floors has been sublet by Lloyds TSB Bank plc.

Lot 96

4 Institute Lane, Alfreton, Derbyshire, DE55 7BQ

Please delete footnote (2) under the tenancy and accommodation schedule on page 122 of the auction catalogue. For clarity the tenant option to determine the lease in September 2020 has been removed. The tenant will therefore be bound under the terms of the lease until 16th September 2025.

Lot 98

90 - 96 Union Street, Torquay, Devon, TQ2 5PY

Sold prior to auction.

Lot 99

67 High Street, Brownhills, Birmingham, West Midlands, WS8 6HJ

The auctioneers have not inspected the property internally.

Lot 101

166/167 High Street & 12 John Street, Ryde, Isle of Wight, PO33 2HW

Withdrawn prior to auction.

Lot 103

CPL Depot, Ware Road, Widford, Ware, Hertfordshire, SG12 8RL

Sold prior to auction.

Lot 106

16, 18 & 20 High Street, Redcar, Cleveland, TS10 3DU

Sold prior to auction.

Lot 107

26 - 28 Albert Road, Widnes, Cheshire, WA8 6JA

The property comprises accommodation as detailed below and not as stated in the Tenancy and Accommodation schedule on page 133 of the Auction catalogue.

Floor Use Sq m Sq ft
Ground Retail 98.85 1064
First Tanning studio 94.56 1017
Total   193.41 2081

Lot 115

138 - 140 Fenwick Road, Giffnock, Glasgow, G46 6XW

Withdrawn prior to auction.

Lot 117

17 New Street, Lancaster, Lancashire, LA1 1EG

Please note the Third Floor is not used

Lot 119

Nova House, Forres Enterprise Park, Forres, Nr Inverness, Highland, IV36 2AB

Please note VAT is NOT applicable to this lot and not as stated on page 145 of the auction catalogue.

Lot 120

80 Castle Street, Forfar, Angus, DD8 3AA

Withdrawn prior to auction.