Acuitus 09/05/2024 Important Auction & Property Update

To the Catalogue for
Auction Sale: 9 May 2024

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 £1,500+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 June 2024.

Lot 42

2 -3 Market Place, South Shields, Tyne and Wear, NE33 1BH

The Tenancy & Accommodation schedule included in the particulars is incorrect. Please see the amended schedule below.

Floor  Use Floor Areas Approx sq m  Floor Areas Approx sq ft
Tenant  Term Rent p.a.x.
2 Market Place
Retail 106.20 (1,143) INDIVIDUAL 
t/a Michaels Cafe
A term of years expiring 17/04/2026 £14,167
3 Market Place
Retail 69.96 (753) INDIVIDUAL 
t/a Knit n Purl
A term of years expiring 11/06/2028 £12,000
175.89 (1,896)


As to the tenancy dated 17 May 2019 between (1) National Westminster Bank Plc and (2) Susan Ann Harris, please note that the tenant has recently closed this shop and has requested a surrender of this tenancy, the tenancy being due to expire on 11 June 2028. The seller has not responded to this request for surrender of the tenancy. Sold prior to auction.