Acuitus 05/05/2021 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 5 May 2021

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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

The Common Auction Conditions have been updated as at March 2021.

Lot 1

495 Seven Sisters Road, London, N15 6EP

Please note that there is an additional small parcel of land to the rear, lying outside the tenant’s leased demise, which is to be included in the sale of this property. Full details are provided in the legal pack.

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

With regards to the Particulars, please note the ground floor residential area of 18.3 sq m (197 sq ft) is the ground floor hallway, with staircase to the upper floors and entrance to the rear garden.

Lot 2

One Stop, 66-68 Regent Street, Stotfold, Nr Hitchin, Hertfordshire, SG5 4DX

As to the description, the property benefits from the right to park 6 motor vehicles in the Driveway to the side of the property and as not stated in the auction particulars. Please see the Transfer document dated 17th June 1997 under Title number BD199922, a copy of which is available in the legal pack.

As to the tenancy, the lease provides for a tenant option to determine the lease on 25th December 2026 and 2031.

Lot 3

1 - 3 East Street, Walworth, London, SE17 2DJ

Please note the approximate floor area should read 61.76 sq m (650 sq ft) and not as stated in the auction particulars.

Please note that completion of this Sale is 6 weeks from the Contract Date, and not as stated in the Special Conditions of Sale

Lot 4

527 Seven Sisters Road, London, N15 6EP

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 5

409 Norwood Road, Tulse HIll, London, SE27 9BU

Withdrawn prior to auction.

Lot 6

5 & 5a Putney Hill, Putney, London, SW15 6BA

With regards to the Particulars, please note the basement is used as a kitchen with ancillary storage and not as stated.

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 7

53/55 North End, Croydon, London, CR0 1TG

Sold prior to auction.

Lot 9

239-249 Mare Street, Hackney, London, E8 3NS

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 10

257 - 265 Southwark Park Road, London, SE16 3TP

Withdrawn prior to auction.

Lot 11

541 Holloway Road, London, N19 4BT

Please note that the lease to Mintland Properties Limited is for a term of 3 years and 3 months from 01/12/2020 until 29/02/2024 and not as stated in the auction particulars.

With regards to the Particulars please note the following amendments to the part of the property let to QC Quality Construction Limited

Ground Floor – Retail – 319 sq m (3,433 sq ft)
First Floor – Ancillary + Shower Room – 108 sq m (1,162 sq ft)
Total – 427 sq m (4,601 sq ft)

The first floor Ancillary also has separate access from the rear.

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

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 12

150-152 High Street North, East Ham, London, E6 2HT

Withdrawn prior to auction.

Lot 13

Ashtead House, Discovery Drive, Arnhall Business Park, Westhill, Aberdeen, AB32 6FG

Withdrawn prior to auction.

Lot 14

Hillsborough Exchange Shopping Centre, Middlewood Road, Sheffield, South Yorkshire, S6 4HL

The following lease negotiations are on-going but provisional terms have been proposed by the respective tenants as follows (further information in the legal pack) :-

Unit 10 – surrender of current lease and grant of a new lease to Anglo Global Properties One Limited for 5 years at £26,500 pa from 1st April 2020. Tenants option to determine in the 3rd year.

Wilko Supermarket – lease renewal for 5 years at £80,000 pa from 25th August 2020. Tenants option to determine in the 3rd year.
Sold prior to auction.

Lot 15

Millennium House, Innovation Park, Campus One,, Aberdeen, AB22 8GT

Please note the lease to Sensia UK Limited contains Full Repairing and Insuring covenants.
Withdrawn prior to auction.

Lot 16

Daisyfield Business Centre, Appleby Street, Blackburn, Lancashire, BB1 3BL

Sold prior to auction.

A tenant who appears to have vacated and left - Northern Food Services Limited have not been on site from around the beginning of March. The Seller has been chasing them since then but not managed to make contact. The unit appears to have been emptied out.

Suite 401 - Just Accounts Ltd - leaving at expiry 31/08/2021

Suite 510 - Regency Marketing - 30 day notice served to expire 31 May 2021

The tenancy schedule detailed in the auction particulars has been updated and is annexed to the Special Conditions of Sale which is available within the legal pack.
Sold prior to auction.

Lot 17

Unit B4 Ratio Park, Fine Point Road, Kidderminster, Worcestershire, DY11 7FB

Withdrawn prior to auction.

Lot 18

88 Broad Street, Reading, Berkshire, RG1 2AP

In addition to the accommodation described in the sale particulars the building has a basement which is currently accessed via a hatch and a ladder from the ground floor.

With regards to the Special Conditions of Sale, please note VAT on the entire purchase price will be payable by the purchaser, on completion of the sale.

Lot 19

1-3 Orsett Road, Grays, Essex, RM17 5DA

Please note that completion of this Sale is 6 weeks from the Contract Date, and not as stated in the Special Conditions of Sale.

Lot 20

2, 2a, 3, 3a & 3b Grand Parade, High Street, Crawley, West Sussex, RH10 1BU

Sold prior to auction.

Lot 22

127 Stoke Newington Church Street, Stoke Newington, London, N16 0UH

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 23

184 Eversholt Street, Kings Cross, London, NW1 1BL

With regards to Particulars please note the following amendments:-

First and second floor comprises a 2 bed maisonette of 47 sq m (506 sq ft).

The Total – 99.30 sq m (1,069 sq ft)

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

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

Lot 24

Coop Convenience Store, 136 Southwark Bridge Road, London, SE1 0DG

Withdrawn prior to auction.

Lot 25

Halifax House, Falcon Court, Stockton-on-Tees, TS18 3TS

Sold prior to auction.

Lot 26

JobCentre,, Westfield House, 85 Manningham Lane, Bradford, West Yorkshire, BD1 3BE

Withdrawn prior to auction.

As to the Tenancy and footnote (1) under the Tenancy and Accommodation schedule in the Auction particulars, the Reversionary lease has not yet been completed and is with the Tenant for signing. The Special Conditions of Sale provide for the Buyer to rescind the contract after a long stop date of 3 months after the Completion date in the event that the reversionary lease has not been completed. The Special Conditions of Sale are available in the Legal Pack.
Withdrawn prior to auction.

Lot 28

1 & 2 Grant Place, Addiscombe, Croydon, Surrey, CR0 6PX

Withdrawn prior to auction.

Lot 29

Advertising Hoarding at 5-13 Sanderstead Road, South Croydon, London, CR2 0PJ

With regards to the Special Conditions of Sale, please note the deposit will be held as Stakeholder and not as stated.

The Buyer shall be responsible for all arrears from the current quarter, in the sum of £937.50 +VAT. The remainder will be settled by the Seller directly with the Tenant.

Lot 30

77, 79-83 Market Street, Crewe, Cheshire, CW1 2HB

With regards to the Special Conditions of Sale and Clause 14.4, the costs that the Purchaser will be responsible for paying on Completion will be the Search Costs (£569.18) as well as £750 + VAT and not as stated.

This property is being marketed for sale on behalf of Joint Administrators 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 Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Lot 31

248 Duchess Parade, High Street, West Bromwich, West Midlands, B70 7QG

Please note that the orange outline in the auction particulars is inaccurate and does not reflect the full extent of the freehold titles being sold. Please see the legal pack for the boundaries of the two registered freehold titles.

Lot 33

Unit A3 Ratio Park, Fine Point Road, Kidderminster, DY11 7FB

Withdrawn prior to auction.

Lot 34

50-52 Newgate Street, Bishop Auckland, County Durham, DL14 7EQ

Withdrawn prior to auction.

Lot 35

62A, 64 and 66 Linthorpe Road and, 1a Corporation Road, Middlesbrough, TS1 1RA

Sold prior to auction.

The has tenant has vacated the property and returned the keys to the Seller (as Landlord) on 13th January 2021. However, the lease in favour of Miss Selfridge Properties Limited (Tenant) is still registered against the property title. The Seller accepted the keys to the Property to ensure that the Property was secured. However the acceptance of the keys by the Seller was not a surrender of the lease. A surrender of the lease has not been agreed between the Seller and the Tenant.

Lot 36

Rainton Meadows Arena, Mercantile Road, West Rainton, Near Houghton Le Spring, County Durham, DH4 5PH

As at 8 April 2021 the occupational tenant is currently in arrears of rent totalling £162,625.00.

The Special Conditions of Sale have been amended to provide for the Buyer NOT to pay to the Seller the full amount of any rent due under any tenancy agreement that may exist and which is in arrears at completion. The Revised Special Conditions of Sale are available in the legal pack.

The Receivers understand that an informal deferral of rent was agreed between the Seller and the Tenant reducing the rent to £37,500.00. The Receivers have approached the Tenant to formalise the deferral of rent. A copy of the rent deferral letter provided to the Tenant is enclosed within the auction pack.

Lot 37

2 & 4 Pool Street, Caernarfon, Gwynedd, LL55 2AB

Withdrawn prior to auction.

Lot 38

Former The Croft, Public House, Halton Lodge Avenue, Runcorn, Cheshire, WA7 5YQ

Prior to completion of the sale, Hilldale Housing Association is to be released from the Agreement to Lease stated in the Auction particulars. The property still has the benefit of the agreed Heads of Terms for the Agreement for Lease with One Stop Stores Limited a copy of which is available in the legal pack.

VAT is NOT applicable to this sale and not as stated in the Auction particulars.

The identification plan shown in the Auction particulars does not show the full extent of the property being offered for sale. The property is held under two separate titles, copies of which are available within the legal pack and the purchaser is deemed to have purchased with full knowledge thereof.

Lot 40

261 Oxford Street, Swansea, Wales, SA1 3BR

With regards to the Particulars, please note there is no staircase to the first & second floors within the curtilage of the property to be sold. The buyer will raise no requisitions thereon.

With regards to the Special Conditions of Sale and Clause 14.4, the costs that the Purchaser will be responsible for paying on Completion will be the Search Costs (£543.35) as well as £750 + VAT and not as stated.

This property is being marketed for sale on behalf of Joint Administrators 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 Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.