Acuitus 11/12/2019 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 11 December 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.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+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 March 2021.

Lot 1

62 Lavender Hill, Clapham, London, SW11 5RQ

As to the tenancy, the Seller has received a notice from the tenant requesting consent to assign the lease. A copy of which is available from the auctioneers.

Lot 2

46 Frensham Road, Lower Bourne, Farnham, GU10 3PX

With reference to the tenancy and accommodation schedule on page 12 of the auction catalogue, please note the lease to AMG Healthcare Limited completed on 06/12/2019, and hence the lease term commences on this date and not as stated. A copy of the lease is available to download from the legal pack

With reference to the tenancy accommodation schedule on page 12 of the auction catalogue, please note the residential accommodation is located at first floor level.

The first floor flat has been sublet on an assured shorthold tenancy.

Please note completion is 25 working days and not as stated on page 12 of the auction catalogue

Lot 3

230 / 232 Gorgie Road, Edinburgh, EH11 2PN

With reference to the tenancy and accommodation schedule, please note the ground floor area is approximately 111.39 sq m (1,199 sq ft) and not as stated on page 13 of the auction catalogue. Please note that the floor areas are provided for a use as a guide only and do not form part of the contract of sale

Lot 4

2 High Street, Mold, Flintshire, CH7 1AZ

Please note Barnardo`s have now started trading from the property.

Please delete reference to Greggs and the Money Shop as nearby occupiers.

Lot 6

49a St Peters Street, Canterbury, Kent, CT1 2BE

Withdrawn Prior to Auction - please refer to auctioneer.

Lot 8

Costa Drive Thru, Vision Retail Park, Hartlepool, County Durham, TS24 0YA

Please note the lease contains a tenant option to determine if the Landlord grants occupational tenancies of any part of the Seller’s remaining title on the Estate (see legal pack) to either Starbucks or Caffe Nero before 5th October 2023. The 999 year lease to be granted to the buyer on completion will contain an obligation on the seller not to grant any occupational tenancies to these named occupiers which would enable this option to determine to be exercised. Please refer to the legal pack for further information.

For the purpose of clarification the rent reviews are linked to the Consumer Price Index collared at 1% and capped at 3% per annum. Please refer to the legal pack for further information.

Lot 9

15 Highgate Road (Corner of Swain's Lane), Highgate, London, NW5 1QX

Please note the approximate total area of the property should read 475.61 sq m (5,120 sq ft), and not as stated in the tenancy and accommodation schedule in the auction catalogue (where the approximate total area only includes the approximate commercial area). Please note that the residential accommodation is arrange on the first, second and third floors, and not just the first and second floors as stated. Please note the lower ground floor should be referred to as a basement. Please note that the floor areas are provided for a use as a guide only and do not form part of the contract of sale.

Lot 10

2 St Anns Road, Harrow, London, HA1 1LG

As to the Tenancy and Accommodation schedule on page 23 of the auction catalogue, the residential tenant of Flat 2a has given notice to end their tenancy on 28th January 2020.

The letting agents are marketing Flat 2a for a rent of £950 per calendar month (£11,400 pa) and have received a holding deposit for and have commenced the referencing process for the proposed new tenants.

Lot 13

Beckett House, 2 - 10 Bridge Street, Salisbury, Wiltshire, SP1 2LX

With regards to Footnote (8) the lease of Suite 1 to The Dentist Salisbury Limited with personal guarantees has completed. The term is from and including 25 December 2019 and ending on and including 2 June 2034 at £8,500 per annum. Option to determine (Tenant only) 24 December 2024 or 24 December 2029 upon six months notice, subject to payment of Insurance Rent and Annual Rent being up to date and the termination of continuing subleases. Rent Review 25 December 2024 and every fifth anniversary of that date.

Lot 14

11 High Street, Goring-on-Thames, Berkshire, RG8 9AT

Please note the ground floor provides retail and ancillary accommodation. The area stated is Gross Internal Area.

Reference to taxi office should be deleted. The tenant has informed the seller that he intends in the future to trade as a taxi service from the rear of the property.

As referred to in the Special Conditions of Sale, the Buyer is to pay an additional fee of 1% + VAT of the purchase price.

Lot 17

145 Lavender Hill, Clapham, London, SW11 5QJ

The boundary plan on page 31 of the auction catalogue does not correctly identify the property being offered for sale. The title plan showing the correct extent of the property being offered for sale is available for inspection within the legal pack.

As to the description paragraph the basement is not currently being used by the tenant and is accessed via a hatch.

As to the street traders plan on page 31 in the auction catalogue, Dexters Estate Agent have moved from 137 Lavender Hill to 174 Lavender Hill.

Lot 21

67 / 70 North Hill, Colchester, Essex, CO1 1PX

Sold prior to auction.

Lot 22

Job Centre Plus, Derbyshire House, Lower Street, Kettering, NN16 8BG

The boundary plan on page 38 of the auction catalogue does not correctly identify the property being offered for sale. Please refer to the demise plan provided in the draft lease within the legal pack showing the correct extent of the property being offered for sale.

For the avoidance of doubt the lease to Secretary of State for Housing, Communities and Local Government is for a term of 10 years from 02/04/2018 until 01/04/2028. The lease provides a tenant option to determine on 02/04/2023.

Lot 23

9 - 11 Chapel Street, Southport, Merseyside, PR8 1DF

The tenant does not currently use the second floor and not as stated in the tenancy and accommodation schedule and description paragraph on page 39 of the auction catalogue.
Access between the first floor and second floor is via a hatch only.

Lot 24

19 & 20 - 21 St Marys Street, Weymouth, Dorset, DT4 8PN

The approximate net internal floor areas for the property are as follows, and not as stated on page 41 of the auction catalogue:

Unit Floor Use Approx. Floor Area Approx. Floor Area
Unit 19 (t/a Pandora) Ground Retail 92.90 sq m (999 sq ft)
  First Ancillary 67.14 sq m (722 sq ft)
  Second Ancillary 61.86 sq m (665 sq ft)
  Third Ancillary 25.63 sq m (275 sq ft)
 
Unit 21 (t/a Greggs) Ground Retail 84.01 sq m (904 sq ft)
  First Ancillary 66.40 sq m (714 sq ft)
  Second Ancillary 73.51 sq m (791 sq ft)
  Third Ancillary 25.17 sq m (270 sq ft)
 
Total     496.62 sq m (5,340 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.

Lot 25

Kingstanding Shopping Centre, Kingstanding Road, Birmingham, West Midlands, B44 9HH

Please note the scheme is currently arranged as 22 units, and not as stated on page 43 of the auction catalogue. The areas stated in the tenancy and accommodation schedule are approximate gross internal areas. Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale.

Some of the tenants benefit from rights to park on the rooftop car park – please refer to the leases for further information.

Lot 26

Superdrug and Card Factory, 78 - 80 High Street, Sittingbourne, Kent, ME10 4PB

The property comprises accommodation as detailed below and not as stated on the auction particulars.

      Floor Area Comments
Unit Floor Use Sq m Sq ft  
78 Ground Retail 201 2164  
  First Ancillary 179 1927  
  Basement Ancillary     Not inspected by Acuitus
80 Ground Retail 133 1432  
  First Ancillary 136 1464  
Totals     649 6987  

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

Lot 27

Units 5 - 6 Roebuck Centre, High Street, Newcastle-under-Lyme, ST5 1SW

As to the street trading plan on page 45 of the auction catalogue please note that RBS do not currently trade from 41 High Street.

As to the description of the property, the second floor is not accessed internally from within the property.

Lot 28

135 - 137, High Street, Colchester, Essex, CO1 1SP

Withdrawn Prior to Auction - please refer to auctioneer.

Lot 29

Unit 1, Copeland Street, Derby, DE1 2QD

Sold prior to auction.

Lot 30

79 - 81 High Street, Scunthorpe, Lincolnshire, DN15 6LZ

Please note the tenant name is Barclays Bank UK Plc and not as stated on page 50 of the auction catalogue. For the year ending 31 Dec 2018, Barclays Bank UK Plc reported pre-tax profits of £1,548,000,000 and a total net worth of £13,409,000,000 (Source: Experian 09/12/2019).

Lot 32

3A St Peter’s Rise, Bishopsworth, Bristol, BS13 7LU

With reference to the tenancy and accommodation schedule on page 52 of the auction catalogue, please note the lease to AMG Healthcare Limited completed on 06/12/2019, and hence the lease term commences on this date and not as stated. A copy of the lease is available to download from the legal pack.

Please note the first floor is currently ancillary accommodation. It is the tenants intention to convert the first floor to residential accommodation, however no works have commenced.

Lot 33

Betfred, 82 - 84 High Street, Sittingbourne, Kent, ME10 4PH

The property comprises accommodation as detailed below and not as stated on the auction particulars.

      Floor Area
Unit Floor Use Sq m Sq ft
82-84 Ground Retail 152 1636
  First Ancillary 139 1496
  Basement Ancillary 51 549
Totals     342 3681

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

  Please delete the reference to “full repairing and insuring” in the tenancy and accommodation schedule on page 53 of the auction catalogue. The occupational lease makes the landlord responsible for maintaining and repairing the structural and exterior parts of the building and the tenant is obliged to pay towards the costs thereof – please refer to the lease which is available to inspect within the seller’s solicitors’ legal pack for details of the repairing obligations.

Lot 34

Units 1 - 11 Greyfriars Business Park, Frank Foley Way, Stafford, ST16 2ST

Please note the following changes in the tenancy and accommodation schedule:

Unit 1A-Please note that the lease is subject to a tenant only option to determine on 3/6/2023. In respect of footnote (1), the current passing rent is subject to a fixed rental increase on 3/6/2020 and not as stated in the auction particulars and an allowance will be made on completion of the sale to the fixed rental increase of £16,874 pa.
Unit 2A-Please note that the lease is also subject to a tenant only option to determine on 3/6/2023.
Unit 6A-Please note that this lease is subject to a tenant only option to determine on the third anniversary of the term in September 2022.
Unit 8B-Please note the tenant is Enabling Solutions Stafford, by way of a Tenancy at Will. The rent is £31 per day i.e. £11,315 pa annual equivalent
Units 8A/9A-Please note that the tenant is Staffordshire and West Midland Community Rehabilitation Company Limited (and not as stated in the auction particulars) with the guarantor as stated.


Please note that completion of this sale will be 30 business days after the Contract Date, as per the Special Conditions of Sale.

Lot 35

18 Montrose Street, Glasgow, G1 1RE

The current tenant has been in occupation of the property since the commencement of the lease in 2015 and not as stated in the second bullet point on page 57 of the Auction catalogue.

Lot 36

581 Cheetham Hill Road, Manchester, M8 9JE

Sold prior to auction.

Lot 38

9 & 11 Ashley Road and 2 & 4 Oxford Road, Altrincham, WA14 2DT

Withdrawn prior to auction.

Lot 39

Parkfield House, 197 / 205 High Street, Crowthorne, Berkshire, RG45 7AQ

With regards to Footnote (1) the lease of 203 & 205 High Street has now completed with Re-Flection Wellness Limited.

The lease is for a term of 5 years from 3/12/2019 at a rent of £18,000 per annum, with an option to determine on 03/12/2022 and a rent deposit of £5,400 is held.

The tenant has a 6 month rent free period. The seller will adjust completion monies so that the unit effectively produces £18,000 per annum from completion of the sale.

The following further amendments apply to the Tenancy and Accommodation schedule :-

201 High Street – Khurana Retail Shop Limited is for a term of 10 years from 16/03/2017 expiring 15/03/2027, with an option to determine 16/03/2022 and rent review in 16/03/2022.

197 & 199 High Street – Let on two separate leases both 199 years from 1/01/2004 expiring 31/12/2202.

The floor areas stated, are from the Valuation Office Agency website. Please note that the floor areas are provided for use as a guide only and do not form part of the contract of sale.

For the avoidance of doubt, the property is currently arranged as 3 retail units, 2 of which are double fronted, with a single unit and residential accommodation above. The total rent is £39,750 per annum.

With regards to the Landlord & Tenant Act 1987, the Seller has received no acceptance notices from the tenants.

Lot 40

56, 58, 62 Wolseley Road, Plymouth, Devon, PL2 3BP

The tenure of the property to be sold is both freehold and long leasehold. The long leasehold of the convenience store & car parking spaces is for a term of 999 years from 11th January 2012 at a peppercorn rent. This is subject to an underlease vested in Tesco Stores Limited, on terms as stated in the particulars of sale. The freehold title will be apportioned at £1 of the purchase price.

With regards to the Key Details, reference to Tesco Plc should read Tesco Stores Limited.

The boundary plan does not correctly identify the property to be sold. The Title Plan (Title no. DN26412) showing the full extent of the property to be sold is available for inspection in the legal pack.

Please note Tesco are not currently trading from the unit and fit out works have not yet commenced. The Seller has no further information as to when fit out works will commence.

Lot 41

Unit 14 Apex Court, Almondsbury Business Park, M4 / M5 Interchange, Bristol, BS32 4JT

Withdrawn prior to auction.

Lot 42

179, 180, 181 King Street, Great Yarmouth, Norfolk, NR30 1LS

The boundary plan does not correctly identify the property to be sold. The boundary should extend further, at the rear of the property. The Title Plan showing the full extent of the property to be sold is available for inspection in the legal pack.

The lease to River Island Clothing Co. Limited includes a mutual landlord and tenant option to determine at any time, upon giving 4 months notice.

The floor areas stated are gross internal areas.

The following amendments apply to the Tenancy & Accommodation schedule

- Unit 1, 181 King Street let to HSBC Bank Plc

Basement not currently used and not inspected by the Auctioneers - Floor Area taken from Valuation Office.

Second Floor is accessed via an external stairway

- Unit 2, 180 King Street – Vacant

Basement is accessed via a hatch and not inspected by the Auctioneers - Floor Area taken from Valuation Office.

First floor is 272 sq m (2,927 sq ft)

- Unit 3, 179 King Street let to River Island Clothing Co. Limited

Part basement is currently used for sales and part basement ancillary use.

Part of the Second floor is not currently used.

Total Gross Internal Area – 2,684 sq m (28,891 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.

Lot 43

20 Lord Street and, 30 Stocks Street, Manchester, M4 4FP

Sold prior to auction.

Lot 44

The Parade, Trengrouse Way, Helston, Cornwall, TR13 8AF

Please note an area of land within the demise is used by the Council for car parking pursuant to the Lease.

Please refer to the lease dated 24th May 1985 for the exact terms.