Acuitus 02/11/2023 Important Auction & Property Update

ADDENDUM
To the Catalogue for
Auction Sale: 2 November 2023

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.

Please note the Product Guide for the Octopus Bridging Loan has been updated and is dated March 2025.

Lot 1

8 Market Hill, Sudbury, Suffolk, CO10 2EA

The Seller (acting by the Receiver) has been made aware of damp ingress within the property, please see the extended addendum included within the legal pack for further details.

Lot 2

34 Fore Street, Taunton, Somerset, TA1 1HR

As to the planning application submitted on 07/08/2023 to Somerset Council, Change of Use consent has now been granted as at 13/10/2023. Please refer to the legal pack for further details.
Withdrawn prior to auction.

Lot 7

4-6 Pydar St, Truro, Cornwall, TR1 2AR

Sold prior to auction.

Lot 8

Tesco Express, Rutland Road, Goole, East Riding of Yorkshire, DN14 6LX

Withdrawn prior to auction.

Lot 9

Montague Lodge, 75 Montague Road, Cambridge, Cambridgeshire, CB4 1BU

Withdrawn prior to auction.

Lot 11

116 to 128 Crockhamwell Road, Woodley, Reading, Berkshire, RG5 3JH

Sold prior to auction.

Lot 12

18 Great Suffolk Street, Southwark, London, SE1 0UG

Completion of the sale shall now take place 30 business days after the auction date.

The Tenancy Schedule within the Special Conditions of Sale has been updated with the correct rent for Costa. For the avoidance of doubt the current passing rent is £55,825 per annum.

Notwithstanding Condition G11, the Seller (acting by the Receivers) agrees that it shall grant an allowance on completion in the sum of £23,870.51, representing 50% of the service charge arrears due from the occupational tenants to the Seller.

Lot 14

iD Maidenhead, Vanwall Business Park, Maidenhead, Berkshire, SL6 4UB

Sold prior to auction.

Lot 16

The Rose Inn, 45 High Street, Bedford, Bedfordshire, MK40 1RY

Sold prior to auction.

Lot 17

H Samuel, 12-18 Market Street, York, North Yorkshire, YO1 8ST

The Deed of Variation of lease provides for the tenant option to determine in the lease to be deleted from the lease and provides for a rent free period from 29th September 2023 until 24th March 2024. The Seller will pay the Buyer the rent that would have been due to be paid by the tenant from completion of the sale until 24th March 2024 in the absence of the rent free period. Therefore, the property will produce £80,000 per annum exclusive from completion of the sale

Lot 18

16-18 Rose Street, Wokingham, Berkshire, RG40 1XU

The retail unit is let for a term until 14th August 2037 by virtue of a lease for a term from 7th August 2012 until 14th August 2027 and a reversionary lease from 15th August 2027 until 14th August 2037 at rent reserved of £30,000 per annum exclusive. The Reversionary lease has been agreed and is with the tenant for signature and completion.

The Special Conditions of Sale provide for completion to be 30 days after the Reversionary lease has completed. In the event that the reversionary lease is not completed 8 weeks after the date of the contract the Buyer may either rescind the contract and the Seller will return the Buyer’s deposit within 48 hours of being notified that the contract has been rescinded or the Buyer may extend the completion date for another 4 week period to allow further time for the reversionary lease to be completed. If the lease is not completed after the extended 4 week period the Buyer may rescind the contract and the Seller will return the Buyer’s deposit within 48 hours of being notified that the contract has been rescinded.

Lot 19

9 Blenheim Terrace, St John's Wood, London, NW8 0EH

For the avoidance of doubt, as to the description, the self-contained residential accommodation on the first and second floors is not included in the sale.

Completion of the sale will be 30 business days after the contract date.

Lot 20

Former [Tastepoint] Factory Premises, Denington Industrial Estate, Turnells Mill Lane, Wellingborough, Northamptonshire, NN8 2RB

Please note that the approximate Gross Internal Floor Areas should read 3,842.66 sqm (41,365 sq ft) and not as stated in the auction particulars. Please note that the approximate floor areas do not form part of the auction contract of sale.

Please note there is a substation on the site.
Sold prior to auction.

Lot 22

Waterloo Quay, Aberdeen, AB11 5BS

No warranty can be given in connection with the headline rent at this property. Please see the legal pack for further information.

Lot 25

20 to 22 St Mary's Square, Newmarket, Suffolk, CB8 0HZ

The property is purported to have some structural defects when our client purchased the property, as demonstrated in the letter from the Council and CPSE 7 enquiry 9.3, copies of which are in the legal pack.

Lot 26

Pearl Assurance House, John William Street, Huddersfield, West Yorkshire, HD1 1BA

Sold prior to auction.

Lot 27

55 Union Street & 2 Pimlico, Torquay, Devon, TQ1 1ET

Please note that a quotation for damp works to Flat 1 has been received today (02/11/2023) from the Managing Agent and a copy of this has been uploaded to the Legal Pack.

Lot 28

9 & 11 Belle Vue, Bude, Cornwall, EX23 8JL

Sold prior to auction.

Lot 29

10 Cricklade Street, Cirencester, Gloucestershire, GL7 1JH

Please note that the lease to Done Brothers (Cash Betting) Limited is for a term of 10 years from 30/4/2012 (holding over) and not 5 years from 30/4/2012 as stated in the auction particulars. Please note that the property has the following approximate floor areas:

Ground Betfred 105.31 sqm (1,134 sq ft)
First Residential (3 bed Flat) 74.32 sqm (800 sq ft)
Total   179.63 sqm (1,934 sq ft)

Please note that the approximate floor areas do not form part of the Auction Contract of Sale.

Lot 33

Bowers Tap, 157/158 Lower Briggate, Leeds, West Yorkshire, LS1 6LY

The completion date of the sale will be 15 January 2024.

Lot 34

40 Northgate Street, Chester, Cheshire, CH1 2HA

Please note that the property is located on the ground, first & attic floors and not as stated. The attic has restricted access via a ladder. Please note the approximate floor areas should read as follows:

Ground 117.05 sqm (1,260 sq ft)
First 108.23 sqm (1,165 sq ft)
Attic 37.16 sqm (400 sq ft)
Total 262.44 sqm (2,825 sq ft)

Please note that the approximate floor areas are for guidance only & do not form part of the Auction Contract of Sale.

Lot 35

19/23 Smithford Way, Coventry, Warwickshire, CV1 1FY

The completion date of the sale will be 20 business days after the contract date.

Lot 36

63 Sherrard Street, Melton Mowbray, Leicestershire, LE13 1XH

The property benefits from new roof coverings, the installation of which was completed in early October 2023.

The specification comprised the stripping of old felt roof coverings down to the original asphalt, which in turn is laid on a concrete deck. Both the upper and lower-level roofs were done. The new coverings comprise a 2-layer high performance felt system on 120mm thick PIR insulation. Coping stones were also resealed, minor works to the parapet walls completed and rainwater goods to the main roofs replaced.

The works benefit from a 10 year warranty. Further information is available within the auction legal pack.

Lot 40

98/99 High Street & 33 Purfleet Street, Kings Lynn, Norfolk, PE30 1BW

Sold prior to auction.

Lot 41

31 & 32 The Shambles, Worcester, Worcestershire, WR1 2RE

Sold prior to auction.

Lot 42

49 Union Street, Torquay, Devon, TQ1 1ET

Sold prior to auction.

Lot 43

2 & 4 Station Road, Ashington, Northumberland, NE63 9UJ

Please note that the term commencement for the lease to New Look Retailers Limited is 14th September 2023, and not as stated in the auction particulars, with the tenant only option to determine on 14th September 2026-please see legal pack.
Sold prior to auction.

Lot 44

8 Eastbank Street, Southport, Merseyside, PR8 1DW

Sold prior to auction.

Lot 45

The Forge Works, The Dean, New Alresford, Nr Winchester, Hampshire, SO24 9BH

VAT is not applicable and not as stated in the auction particulars for sale.

Lot 46

Land at Beech Court, Wokingham Road, Hurst, Nr Reading, Berkshire, RG10 0RQ

VAT is applicable to the sale of this property.