Acuitus 12/02/2020 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 12 February 2020

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 2

Barclays Bank, 129 Brent Street, Hendon, London, NW4 2DX

Please note that in respect of the ‘’tenancy & accommodation’’ schedule in the auction particulars, the ground floor comprises a banking hall and ancillary accommodation, and not just a banking hall as described in the auction particulars. The first floor (part let to Barclays) comprises staff/kitchen/wc’s. The basement comprises ancillary/strong rooms.

Lot 3

18 / 20 High Street, Oakham, Leicestershire, LE15 6AL

Please note the property benefits from a rear yard with parking for approximately 6 cars

Lot 4

Units 1 - 11 Leyland Close, Fisons Way, Thetford, Norfolk, IP24 1XA

In connection with the 2018 rent review under the Lease, the Seller has agreed directly with Breckland District Council (being the freeholder and superior landlord of the Property) a revised rent of £14,500 per annum plus VAT (Revised Rent). The Seller''s immediate landlord under the Lease (Mr and Mrs Huson) has yet to formally confirm their agreement Revised Rent by executing a rent review memorandum to this effect. The Buyer acknowledges that the Seller has agreed in principle with the Superior Landlord that the annual rent payable under the Lease shall be increased to £14,500 per annum exclusive of VAT (Reviewed Rent). The Buyer agrees to be bound by the Reviewed Rent. The Buyer acknowledges that the Landlord has not yet formally confirmed their consent to the Reviewed Rent by executing a rent review memorandum to this effect.

As to Units 1 and 2 the interest to lease the units from a Bespoke Joinery Company as stated in footnote (1) under the tenancy schedule in the auction particulars has fallen away.

As to Unit 6, The Sellers agents have received interest from an individual to lease the unit for a term of 6 years, with a tenant option to determine the lease at the end of the 3rd year, at a rent reserved of £5500 per annum exclusive.

Unit 7 is let for a term of 5 years from 7th November 2017 and Units 10 and 11 are let to Able Crane Services Limited and not as stated in the tenancy and accommodation schedule on page 15 of the auction catalogue.

Lot 5

KFC, The Hough Leisure Park, Stafford, ST17 4ER

Sold prior to auction.

Lot 6

1133 Warwick Road, Acocks Green, Birmingham, B27 6RA

With regards to the plan in the particulars of sale, the outline of property to be sold is incorrect. The correct extent of the property to be sold is as shown on the Title Plan and available for inspection within the legal pack.

Lot 9

Unit 6 Arlington Business Park, Whittle Way, Gunnels Wood Road, Stevenage, Herts, SG1 2FS

The Vendor has been informed by the tenant that fit out works will start week of Monday 17th February 2020 with planned occupation on 20th March 2020.

Lot 10

4 The Square, Pangbourne, Berkshire, RG8 7AG

With reference to the property description, please note there is an external brick built store together with a wooden store at the rear of the property. Please remove reference to an external garage.

Lot 11

17 West Street, Witheridge, Tiverton, Devon, EX16 8AA

Please note that the approximate ground floor area (and therefore total commercial area ) should state 171.82 sq m (1,850 sq ft) and not as stated in the auction particulars. The floor areas are provided for a use as a guide only and do not form part of the contract of sale. Please also note that the flat is accessed from the side passage, and not as stated in the auction particulars.

Lot 13

Hi-Tec Europe, Units 1 & 2 Aviation Way, Southend-on-Sea, Essex, SS2 6GH

Withdrawn prior to auction.

Lot 14

Milestone Services, London Road, Whimple, Exeter, Devon, EX5 2QB

Please note that the property does not include an internal post office, but parcels are received from a courier company for collection by the public. Please also note that there are four pump islands and parking for about 6 cars, and not as described in the auction particulars.

Lot 15

220 Graham Road, Hackney, London, E8 1BP

Withdrawn prior to auction.

Lot 16

Unit 22 Space Business Centre, Strood, Kent, ME2 2BF

Please note the current floor areas stated in the catalogue are approximate Gross External Areas.
The approximate Gross Internal areas for each units are:
Ground – 44.64 sq m (480 sq ft)
Mezzanine – 15.08 sq m (162 sq ft)
Total – 59.72 sq m (642 sq ft)

Lot 17

2 / 3 Bull Lane, High Wycombe, Buckinghamshire, HP11 2DL

Sold Prior to auction.

Lot 18

1131 Warwick Road, Acocks Green, Birmingham, B27 6RA

With regards to the plan in the particulars of sale, the outline of property to be sold is incorrect. The correct extent of the property to be sold is as shown on the Title Plan and available for inspection within the legal pack.

With regards to the Tenancy and Accommodation schedule the following amendments apply :-

Ground – 206 sq m (2,217 sq ft)
First – 213 sq m (2,293 sq ft)
Total – 419 sq m (4,510 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 19

61 & 61b-61d High Street, Haverhill, CB9 8AH

The Special Conditions of Sale provide for the Buyer to pay the Seller in addition to the purchase price 1% of the purchase price plus VAT and £2000 plus VAT towards the Seller legal costs.

As to unit 61c, the tenant is not currently trading from the property and the tenant has not paid the rent due since mid December 2019. The Seller has been unable to contact the tenant.

The property comprises floor areas as follows and not as stated in the auction particulars.

Unit Use Floor area
Sq m Sq  ft
Unit 61 Restaurant 184.87 1990
Unit 61B Retail 69.62 749
Unit 61C Retail 68.49 737
Unit 61D Retail 71.82 773
Total   394.80 4249

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

As to the street trading plan in the auction particulars, please note the following.

• 65 High Street is currently vacant and to let. The agents have informed the Auctioneers that heads of terms are agreed and the matter is in solicitors hands.

• 47 to 49 and 40 High Street is current not occupied.

Lot 20

Units 1 & 2 Otley Road, Shipley, West Yorkshire, BD18 3SA

As to Unit 1 the tenant has made an application to sublet to Tile Giant Limited (CRN0430218). The Seller has acknowledged the application and details are available in the legal pack.

As to unit 1, the lease to Travis Perkins (Properties) Limited is for a term of 20 years by virtue of an original lease for a term of 10 years from 13th May 2008 and a reversionary lease for a another term of 10 years from 12th May 2018 until 11th May 2028. The lease provides for a tenant has an option to determine the lease and a rent review on 12th May 2023 and not as stated in the Auction particulars.

Unit 2 is let for a term of 10 years from 9th December 2019 until 8th December 2029 with a rent review on 9th December 2024 and a tenant option to determine on 9th December 2024 and not as stated in the auction particulars.

Lot 21

49 / 51 High Street, Skipton, North Yorkshire, BD23 1DT

With regards to the Street Traders Plan please note Rackhams Department Store is now closed.

A Calderbank offer dated 30th January 2020 from the occupational tenant of the LOT is available for inspection in the legal pack. The occupational tenant will not agree to an extension of the offer period mentioned in the letter. The SELLER has not yet responded to the offer and will keep the Buyer informed of any further correspondence with the occupational tenant.

The provisions of CONDITION G23 in the Common Auction Conditions shall apply, most notably the Seller may not agree the level of the revised rent or commence rent review proceedings without the written consent of the Buyer, such consent not to be unreasonably withheld or delayed.

Lot 22

118 High Street, Northallerton, North Yorkshire, DL7 8PQ

Please note in the Tenancy and Accommodation schedule in the auction particulars, the first floor areas should read approximately 13.19 sq m (142 sq ft) and the attic area should read approximately 41.99 sq m (452 sq ft). Please note that the floor areas are approximate and do not form part of the auction contract.

Lot 26

46-50 High Street, Grays, Essex, RM17 6NA

Sold prior to auction.

Lot 28

33 & 33a Goring Road, Worthing, West Sussex, BN12 4AR

Please note that there is separate access to the maisonette from both the front and rear of the property. Please note that the maisonette is currently used by the tenant, but mainly for storage purposes.

Lot 29

The Stafford Cinema, Newport Road, Stafford, Staffordshire, ST16 2HH

Please note that the approximate floor areas stated in the auction catalogue are Gross Internal Areas. Please note that the Cinema has a small cellar, largely disused by the tenant, comprising circa 23.22 sq m (250 sq ft). Therefore the approximate total GIA should state 1,204.44 sq m (12,965 sq ft). The floor areas provided for a use as a guide only and do not form part of the contract of sale.

Lot 30

Unit 25 Space Business Centre, Strood, Kent, ME2 2BF

Please note the current floor areas stated in the catalogue are approximate Gross External Areas.
The approximate Gross Internal areas for each units are:
Ground – 44.78 sq m (482 sq ft)
Mezzanine – 14.74 sq m (158 sq ft)
Total – 59.52 sq m (640 sq ft)

Lot 32

93 Argyll Street, Dunoon, Argyll and Bute, PA23 7NE

Please note there is a second floor which the auctioneers were unable to gain access to.

Lot 40

Unit 5 Brindley Court, Lymedale Business Park, Newcastle under Lyme, ST5 9QA

Sold prior to auction.

Lot 41

9 Wide Bargate, Boston, Lincolnshire, PE21 6QY

Please note the First Floor is used in part as a Lens Lab and Tenant does not currently use the Second Floor.

With regards to the Street Traders Plan the following amendments apply :-

32/34 Strait Bargate trades as Age Concern
18 Pescod trades as Hayes Travel
12 & 16 Pescod are vacant

Lot 42

The Headmasters Hall, The Old School House, The Square, Pennington, Near Lymington, Hampshire, SO41 8GN

Please note that as the Seller is offering this Property in the capacity of Mortgagees in Possession, the Property is being offered with limited title guarantee and therefore the purchaser will not raise any requisitions thereon. The Seller is unable to confirm that the Property is VAT elected or not and the Buyer will raise no requisition thereof. Please note that approximate total net internal floor areas in the auction particulars should read approximately 900 sq ft and not as stated, however, the floor areas are provided for a use as a guide only and do not form part of the contract of sale. The title plan outlined on the ordnance survey extract in orange in the auction particulars is for guidance only and buyers are requested to see the title plan in the legal pack to confirm the exact extent of the title being sold. Under ‘’description’’ and ‘’key details’’ in the auction particulars, please note that buyers are expected to make their own enquiries in respect of possible alternative uses for the property. Please note that completion of this sale will be 21 working days from the Contract Date. Please note that as stated in the Special Conditions of Sale, the Buyer will pay the Seller a contribution of 2% of the purchase price or £3,000, whichever is the greater, plus VAT, towards the sellers legal costs associated with the sale of the Property.

Lot 43

17 Haymarket, Sheffield, South Yorkshire, S1 2AW

Please note that first/second floors are not occupied and not currently used as residential.

Lot 44

37 Stockwell Gate, Mansfield, Nottinghamshire, NG18 1LA

With reference to the street traders plan, please note the property identified as 37 Stockwell Gate and 41-43 Stockwell Gate are currently being marketed to let.

Lot 45

Unit 1 Roebuck Shopping Centre, High Street, Newcastle Under Lyme, ST5 1QL

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

  Use Sq m Sq ft
Ground Retail 82.17 885
First Ancillary 124..29 1337
Second Not used 39.44 424
Total   245.90   2646

The floor areas are provided for a use as a guide only and do not form part of the contract of sale. Please delete the reference to RBS as a neighbouring occupier in in the third bullet point and situation paragraph of the auction particulars.

Lot 48

Units 1 - 3 West Stewart Street, Greenock, PA15 1SN

The auctioneers were not able to gain access to unit 1 or the multi-storey car park and are therefore unable to verify the approximate floor areas provided in the marketing particulars.

Please note unit 2 comprises ground and first floors and unit 3 comprises ground floor only and not as stated.

Lot 49

52 / 66 Newmarket, Ayr, Ayrshire, KA7 1LR

Sold prior to auction.

Lot 50

64 - 70 Church Street, Blackpool, Lancashire, FY1 1HP

Six Week Completion is available.

Please note part of the first floor of 68 Church Street (Vacant) is above the ground floor of 64/66 Church Street (t/a Poundbakery).

Lot 51

Land at 47 Foxbury Road, St. Leonards, Ringwood, Hampshire, BH24 2SG

Please note that as the Seller is offering this Property in the capacity of Mortgagees in Possession, the Property is being offered with limited title guarantee and therefore the purchaser will not raise any requisitions thereon. Under ‘’Description’’ in the auction particulars, please note that the site was not previously occupied by a small dwelling house. No warranty can be given by the Seller in respect of the planning or potential development status and therefore the purchaser will not raise any requisitions thereon. The Seller is unable to confirm that the Property is VAT elected or not and the Buyer will raise no requisition thereof. Please note that completion of this sale will be 21 working days from the Contract Date. Please note that as stated in the Special Conditions of Sale, the Buyer will pay the Seller a contribution of 2% of the purchase price or £3,000, whichever is the greater, plus VAT, towards the sellers legal costs associated with the sale of the Property.