Acuitus 04/04/2019 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 4 April 2019

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.

The auction will begin at 2pm on 4th April 2019.

Lot 3

92 High Street, Newcastle-under-Lyme, Staffordshire, ST5 1QQ

Please note the property has the following approximate floor areas and not as detailed in the catalogue:

Ground Retail/Ancillary 302.70 sq m (3,258 sq ft)
Basement Ancillary 218.15 sq m (2,348 sq ft)
First* Ancillary 117.40 sq m (1,264 sq ft)
Total 638.22 sq m (6,870 sq ft)

*Please note that the tenant does not currently use the first floor and this approximate area is taken from the Valuation Office. The floor areas are provided for a use as a guide only and do not form part of the contract of sale.

Lot 4

Unit 1 Hernston Retail Park, Bridgend, Mid Glamorgan, CF31 3ND

With regards to the aerial photograph on page 14 of the auction catalogue, the property outlined in orange is incorrect. For the avoidance of any doubt, the Title Plan showing the extent of the property to be sold is in the legal pack and as shown on page 15 of the auction catalogue.

Lot 6

9 - 11 Eastgate Street, Gloucester, Gloucestershire, GL1 1NS

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

Ground 157.40 sq m 1694 sq ft
First 149.47 sq m 1609 sq ft
Second 70.60 sq m 760 sq ft
Total 377.45 sq m 4,063 sq ft

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

Lot 7

60 Abbeygate Street, Bury St Edmunds, Suffolk, IP33 1LB

Please note there are two licences relating to fire escape access from 59 Abbeygate Street & 7 Guildhall Street respectively, over the car park of the property to be sold, with a total licence fee of £550 per annum. Copies of the licences are in the legal pack.

With regards to the Tenancy and Accommodation schedule on page 19 in the auction catalogue the following amendments apply :-

Ground – Offices/Ancillary - 171 sq m (1,840 sq ft)
Basement – Storage - 88.44 sq m (952 sq ft)
First – Offices – 84 sq m (904 sq ft)
Second – Offices – 87 sq m (936 sq ft)

Total – 430.44 sq m (4,632 sq ft)

Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale

Reference to lower ground offices should be deleted.

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

58 Abbeygate Street – Scotts Opticians
90 Guildhall Street – Vacant

Lot 8

3 Marylebone High Street, Marylebone, London, W1U 4NG

Sold Prior to Auction.

Lot 9

93 / 95 High Street and Clifton Cottages, Eltham, London, SE9 1TD

Please note the following changes to the approximate floor areas and these should replace the approximate floor areas stated in the auction catalogue:

95/95a (Wimpey)-Ground 107.20 sq m 1154 sq ft*
95/95a (Wimpey)-Second 68.65 sq m 739 ft

*Gross internal Floor Area including customer toilets.

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

Lot 10

Unit C1 Willowbridge Way, Whitwood Common Lane, Castleford, West Yorkshire, WF10 5NP

In respect of footnote (2) in the auction particulars, for the avoidance of doubt, the Seller’s Managing Agent has confirmed that a formal request to surrender the lease from ATS Euromaster Limited has not been received, but the Seller’s Managing Agent has received correspondence, dated 7th March, from Gerald Eve, the tenant’s advisors, confirming that the tenant, ATS will not be renewing their lease at lease expiry, and that Tructyre, would be prepared to take a new lease subject to agreeing suitable terms. No further negotiations have taken place between the Seller’s Managing agent and the tenant, pending the upcoming auction sale.

Please note that the head lease being sold is for a term of 999 years from 1st January 1998, and not as stated in the auction particulars.

Please note the approximate Gross Internal Floor Area should read 932.90 sq m (10,042 sq ft), and not as stated in the auction catalogue. The floor areas are provided for a use as a guide only and do not form part of the contract of sale.

Lot 11

McColls, High Street, Box, Corsham, Wiltshire, SN13 8NQ

Please note the property is situated next to a bus stop and not a bus station.

Lot 12

Units 2 & 3 Hernston Retail Park, Bridgend, Mid Glamorgan, CF31 3ND

With regards to the road map on page 27 of the auction catalogue, please note the road highlighted M48 should state A48.

Lot 14

102 / 103 Northbrook Street, Newbury, Berkshire, RG14 1AA

Please note the first floor provides restaurant and ancillary accommodation.

Please remove reference to Starbucks as a nearby occupier.

Lot 15

13 New Canal, Salisbury, Wiltshire, SP1 2AA

With regards to the Tenancy and Accommodation schedule on page 33 in the auction catalogue the following amendments apply :-

Ground Retail – 138 sq m (1,485 sq ft)

Ground Ancillary/Customer WC`s – 27 sq m (291 sq ft)

Total (including the 1st & 2nd Floors) – 290.60 sq m (3,128 sq ft)

Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale

IDH Limited have a lease over the entire First and Second Floors. Reference to part first floor should be deleted.

Lot 16

9 Buttermarket, Bury St Edmunds, Suffolk, IP33 1DB

For the purpose of clarification, as to note 2 below the tenancy and accommodation schedule on page 35 of the auction catalogue, the reversionary lease is in place from 24/06/2021 until 23/06/2026 and not as stated.

Lot 19

20 / 22 Crown Street & 1 - 3 Bridge Street, St Ives, Cambridgeshire, PE27 5AB

The second floor ancillary accommodation is accessible via hatch only.

Lot 20

Imperial War Museum Storage Facility, Ickleton, near Duxford, Cambridgeshire, CB10 1TA

Please note that the approximate Gross Internal floor area of the storage compounds total 11,370 sq ft (to include corridor and plant in each cell) and a Gross External area totalling 17,882 sq ft. Buyers are deemed to have relied on their own inspection and measurements and the approximate floor areas are provided for a use as a guide only and do not form part of the contract of sale.

Please note the land demised to the tenant under the lease, as shown on the leasehold title plan (CB288845), is slightly larger than the land included in the Seller’s freehold title. See the southernmost point of the land within the leasehold title. The Seller believes that this is due to an error in the lease plan as the tenant appears to only occupy and utilise the land included within the Seller’s freehold title.

Lot 21

101 High Street, Dumfries, Dumfries & Galloway, DG1 2BN

Sold prior to auction.

Lot 22

Britannia House, 5 - 6 Millmead, Guildford, Surrey, GU2 4BE

The first floor of unit 6 is let on two separate leases as detailed below and not as stated in the tenancy and accommodation schedule on page 45 of the auction catalogue. Copies of the leases are available within the legal pack.

  Use Sq M Sq FT Tenant Term Rent (pa) Notes
First floor, back room Office 18.13 195 The View PR & Marketing Limited (CRN 07001042) Minimum term 6 months from 1st October 2017 £6,600 Mutual option to determine the lease on 3 months written notice but Seller is unable to prove that procedure to exclude rights of renewal in Sections 24-28 Landlord & Tenant Act 1954 were followed and so should be considered as a tenant only break.
First floor, Front room Office 14.42 155 Socratics Limited (CRN 04713376) Minimum term 6 months from 1st October 2017 £4,200 Mutual option to determine the lease on 3 months written notice but Seller is unable to prove that procedure to exclude rights of renewal in Sections 24-28 Landlord & Tenant Act 1954 were followed and so should be considered as a tenant only break.
    32.55 350     £10,800  

As to Unit 5, the tenant Sciecure Pharma Limited are in negotiations with the Seller take a new lease of unit 5 for a term of 5 years, subject to a tenant option to determine the lease on the 3rd anniversary of the term, at a proposed rent reserved of £22,500 per annum rising to £24,000 per annum after the first year. A copy of the heads of terms, subject to contract, are available within the legal pack. VAT is applicable to the sale of this property and not as stated on page 45 of the Auction catalogue.

Lot 27

Eagle House, 22 Armoury Way, Wandsworth, London, SW18 1EZ

Please note that Completion of this Sale will be 30 business days after the Contract Date, or sooner by mutual agreement.

Lot 29

43 Hamilton Way, Greenock, Renfrewshire, PA15 1RQ

Withdrawn prior to auction.

Lot 33

61 / 71 High Street, Rhyl, Denbighshire, LL18 1TS

Please note completion of this sale will be 16th May 2019 or earlier if agreed between the Buyer and Seller.

Lot 36

53 Warrington Street, Ashton-under-Lyne, Greater Manchester, OL6 7JG

Please note completion of this sale will be 16th May 2019 or earlier if agreed between the Buyer and Seller.

Lot 37

50 - 52 Westgate, Wakefield, West Yorkshire, WF1 2SA

Please note completion of this sale will be 30 working days after the date of the auction.

Lot 38

1 Market Place, Pontefract, West Yorkshire, WF8 1AG

Please note there is an addendum to the special conditions available in the legal pack with regards to the Clawback Agreement dated 17 March 2015. Please refer to the legal pack for further information.

Lot 40

80 Castle Street, Forfar, Angus, DD8 3AA

With regards to the description and tenancy and accommodation please note the property comprises the following accommodation and not as stated on page 57 of the catalogue page.

Floor Use Floor Areas (Approx)
Ground Retail 64.54 sq m (695 sq ft)
Mezzanine Ancillary 25.60 sq m (276 sq ft)
Total   90.14 sq m (971 sq ft)

Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale