Acuitus 23/09/2020 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 23 September 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 £1,000 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.

Lot 1

197 High Road, Benfleet, Essex, SS7 5HY

The Special Conditions of Sale provide for the Buyer to pay to the Seller an additional sum of £1600 plus VAT as a contribution towards the Sellers legal costs.

Lot 4

Old Bank House, 1-3 High Street, Arundel, West Sussex, BN18 9AD

Sold prior to auction.

VAT is applicable to sale of this property, however it is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC) if the buyer qualifies.

Bidders attention is drawn to TUPE provisions in the TUPE clause of the Special Conditions of Sale.

Covid related rental concessions have been agreed with a number of the occupiers and details have been provided in the CPSE2 replies within the legal pack.

Lot 5

31, 31a and 31b The Broadway, Mill Hill, London, NW7 3DA

Pease note that the tenant of the duplex flat in the first floor/attic is currently holding over on the AST that expired on 5th September 2020 at the same rent as detailed in the auction particulars (£1,350 pcm/£16,200 pa).

Please note that the lease to D.N. Sharpe Limited (t/a Care Chemist) has now completed and is for a term of 15 years from 2nd September 2020, with rent reviews and tenant only break options on 2nd September 2025 and 2nd September 2030, and not as described in the tenancy & accommodation schedule and footnote (2) in the auction particulars.

Lot 6

46-50 Coombe Lane, Raynes Park, Wimbledon, London, SW20 0LA

Please note the tenant of 50 Coombe Lane should read ‘’Little Lives UK Trading Limited’’ and not as stated in the auction particulars.

Lot 7

SIG Roofing, Pedmore Road, Dudley, West Midlands, DY2 0RN

Withdrawn prior to auction.

Lot 8

47 Saturday Market, Beverley, East Riding of Yorkshire, HU17 8AA

Withdrawn prior to auction.

Lot 11

Victory House, Central Avenue, Brampton Park, Brampton, Cambridgeshire, PE28 4BZ

Please note the property is subject to Estate Service Charges, further information is available for inspection in the legal pack.

Lot 12

44 - 62 Pinstone Street, Sheffield, South Yorkshire, S1 2HN

Withdrawn prior to auction.

Lot 14

12 & 12A/C Cheapside, Wood Green, London, N22 6HH

Sold prior to auction.

Lot 16

41 - 43 St. Thomas Street, Weymouth, Dorset, DT4 8EH

The Special Conditions of Sale provide for the Buyer to pay to the Seller in addition to the purchase price a sum of £950 plus VAT towards the Sellers legal costs.

With regard to the lease of the ground floor to JD Wetherspoon, an agreement is in place for the March quarter’s rent to be paid in equal monthly instalments commencing on 29 September 2020 so that the arrears are paid off by the end of 2020. The June and September Quarters rent is being paid monthly. Please see the letter from the tenants solicitors within the legal pack.

Lot 17

SIG Roofing, 5 Harding Way, St Ives, Cambridgshire, PE27 3WR

Withdrawn prior to auction.

Lot 18

21 St Peters Gate, Nottingham, Nottinghamshire, NG1 2JF

Sold prior to auction.

Lot 19

9 & 9A/D Cheapside, Wood Green, London, N22 6HH

Please note that part of the Property is held long leasehold registered under title number AGL382754 (which is held by a group company of the Seller). This interest will be surrendered to the Seller immediately prior to completion of the sale, meaning that on completion the freehold will be sold with just the occupational lease and ASTs in place -please see Extra Special Conditions of Sale (2) and Title documentation in the Legal Pack.
Sold prior to auction.

Lot 21

15 River Street, Ayr, South Ayrshire, KA8 0AX

There is a schedule of condition attached to the lease and this is available in the legal pack found online
Car parking lease for 13 spaces - Registers do not hold a copy of this lease, so we are unable to provide a copy as part of the legal pack. There is no evidence to suggest that the lease has been formally renounced.
Please note that the MSCP that forms part of the leased subjects was subject to a long lease. This lease was renounced (as part of the original sale and leaseback deal with the tenant) and a copy of the signed renunciation can be found within the legal pack. The renounced lease has not been cleared from the Land Register. ‘

Lot 22

Unit 26B Deeside Industrial Estate,, Deeside, Flintshire, CH5 2LR

With regards to the Special Conditions of Sale, please note the Vendor will not seek recovery of any rent / service charge arrears from the purchaser.

The property is Grade II Listed

Lot 23

6 Richmond Walk, Plymouth, Devon, PL1 4LL

Withdrawn prior to auction.

Lot 26

13 & 13A/B Cheapside, Wood Green, London, N22 6HH

Sold prior to auction.

Lot 28

Unit 1 Pavilion Business Park, Leeds, West Yorkshire, LS12 6AJ

The Special Conditions of Sale includes for the Buyer to pay to the Seller an additional sum of £457.84 inclusive of VAT on completion to reimburse the Seller for the expense incurred in obtaining the local authority search and other searches.

The Special Conditions of Sale also include that VAT is payable on completion.

Lot 29

1265/1179 Gallowgate, Glasgow, G31 4EB

The subjects of sale are under exception of the area outlined in green on the Title Plan for GLA1772, which are excluded from and do not form part of this title
Title Plan GLA1772 attached, clearly showing the area outlined in green.

Just to be clear, the site comprises 2 Title Numbers :
1) GLA1772 (outlined in red, but excluding those outlined in green), and
2) GLA92379 (outlined in red)

Lot 30

Avondale Business Park, Cwmbran, Monmouthshire, NP44 1XE

The title mark up in the auction particulars does not show the full extent of the property being offered for sale. The title plans showing the full extent of the property being offered are available to inspect within the legal pack. The buyer is deemed to have purchased with full knowledge thereof.

Please note the special conditions have been updated on 22nd September by (a) removing the VAT from the payment of the deposit (it isn’t a supply, so cannot be subject to VAT), and (b) provide that the conditions of G15 shall apply, making the sale a transfer of a going concern.

Lot 31

Units 17-21 Factory Road, Upton Industrial Estate, Poole, Dorset, BH16 5SN

With regards to the floors areas, the Total Area is 10,677 sq m (114,930 sq ft) in the Schedule of Accommodation, please note the following amendments :-

Unit 17
Ancillary 39 sq m (424 sq ft)
Office 1,414 sq m (15,220 sq ft)

Unit 21
Warehouse 3,232 sq m (34,790 sq ft)
Office 259 sq m (2,788 sq ft)
Ancillary 268 sq ft (2,885 sq ft)

Total Area 10,677 sq m (114,930 sq ft)

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

Lot 32

10 & 10A/C Cheapside, Wood Green, London, N22 6HH

Sold prior to auction.

Lot 33

Tranquility House, Harbour Walk, Hartlepool, TS24 0UX

Please note that the third floor area should read approximately 310.83 sq m (3,345 sq ft) and therefore the approximate total floor area should read 1313.51 sq m (14,138 sq ft) and not as stated in the auction particulars.

Official Copies for Title Number CE228654 have been uploaded to the Legal Pack on 21st September . This is the freehold title to a car park area (as shown edged red on the Land Registry Title Plan) which is owned by the Sellers and forms part of the Property for sale at the auction. It is currently demised to the Tenant in accordance with the terms of the 2016 lease.

Lot 34

8-10 Bridlesmith Gate, Nottingham, Nottinghamshire, NG1 2GS

The property comprises accommodation as follows and not as stated in the Auction particulars. The floor areas provided are for use as a guide only and do not form part of the auction contract.

Floor Use Sq m Sq ft
Ground Retail 57.62 620
Basement Ancillary 60.39 650
Total   118.01 1270

Lot 35

London Road, Wrentham, Suffolk, NR34 7HJ

Withdrawn prior to auction.

Lot 36

100 Tyburn Rd, Birmingham, West Midlands, B24 8LD

Withdrawn prior to auction.

Lot 37

McColls, 257 St Helens Road (A579), Bolton, Greater Manchester, BL3 3QA

Sold prior to auction.

Lot 38

22 & 24 King Street, Bridlington, North Yorkshire, YO15 2DQ

Withdrawn prior to auction.

The second floor approximate floor area should read 115.5 sq m (1,243 sq ft) and not as stated in the auction particulars. Therefore the total approximate floor area should read 694.8 sq m (7,479 sq ft) and not as stated in the auction particulars.

Lot 39

4 Middle Row, Ashford, Kent, TN24 8SQ

Sold prior to auction.

Lot 40

Eagle House, Joule Road, Andover, Hampshire, SP10 3UX

Sold prior to auction.

Lot 41

42 - 44 High Street, Peebles, Borders, EH45 8SD

There is a rent review on 12/02/2023. For the avoidance of doubt, the basement floor is also included in the lease to Meridian Realisation Limited (formerly Mackays Stores Limited in administration).

Lot 42

63 High Street, Nairn, Highland, IV12 4BW

Please note that the property includes the first floor and an attic floor. There is also a unused garage building at the rear.

Please note that the entire property is included in the sale. This includes basement, ground, first and attic floors. There is also a unused garage building at the rear.

There is a schedule of condition attached to the lease, a copy is available for inspection within the legal pack.

Lot 43

12 Rotterdam Street, Thurso, Caithness, KW14 8EN

There is a rent review dated 08/05/2022. For the avoidance of doubt, the first floor is also included in the lease to Meridian Realisation Limited (formerly Mackays Stores Limited in administration).

Lot 44

22 London Road, Bedford, Bedfordshire, MK42 0NS

The yard at the rear of 22 London Road (as shown on the Title Plan) is owned by the Seller and is not classified as a car park. It is merely a piece of land, suitable for up to 5 cars to park on for the benefit of the tenant in the flat and for the staff of Corals. It is also a right of way for them to enter the flat or the back of the shop.

Please note in the Special Conditions there is a buyers premium of £1,250 + VAT.

Lot 46

1-11 Liscard Village, Liscard, Wallasey, Wirral, CH45 4JG

Withdrawn Prior

Please note that part of the first floor included in the sale flies above the ground shop No. 2 Seaview Road (t/a Capitol Solutions) this shop is not included in the sale.

Lot 47

44 - 46 Dockhead Street, Saltcoats, KA21 5EH

There is a rent review on 18th May 2022.

For the avoidance of doubt the first floor is also let to Meridian Realisation Limited (formerly Mackay Stores limited in administration)

Lot 48

78 High Street, Wick, KW1 4NB

For the avoidance of doubt the first floor is let to Meridian Realisation Limited (formerly Mackays Stores Limited in administration)

Lot 49

74 High Street, Hawick, TD9 9HR

For the avoidance of doubt the first floor is also let to Meridian Realisation Limited (Formerly Mackays Stores Limited in administration).

The property includes the area shaded blue on title plan ROX9540 and a right in common to the service yard tinted yellow.

Lot 50

KMD Business Centre, Wellington Circle, Aberdeen, AB12 3JG

Sold prior to auction.

Lot 51

Pavilion 1, Aspect 32, Arnhall Business park, Westhill, Aberdeen, AB32 6FE

Withdrawn prior to auction.

Lot 53

62 Main Street, Wishaw, ML2 7AB

The property comprises a ground floor sales area and a first floor used for storage and ancillary space. Floor areas are as follows;

Ground floor 444.11 sq m 4,780 sq ft
First floor 186.03 sq m 2,002 sq ft
TOTAL 630.14 sqm 6,783 sq ft ‘

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

The property is shown shaded pink, yellow and brown on title plan LAN76712.

Lot 56

175 / 177 Holloway Road, London, N7 8LX

Please note an unsigned and undated lease has been provided by the occupier to the Receivers and is available for inspection in the legal pack. The lease is between SMB INC Limited (Landlord) and Bartletts Wholesale Limited (Tenant) for 10 years at an initial rent of £55,000 per annum”

The Receivers have received email correspondence from Bartletts Wholesale Limited confirming the terms of this unsigned & undated lease are agreed, between SMB INC Limited and Bartletts Wholesale Limited.

With regards to the VAT status interested parties are referred to a letter dated 23rd December 2019 from HMRC and the Special Conditions of Sale, both documents are available to inspect in the legal pack. Interested parties will not raise any requisitions there on.