Acuitus 15/05/2025 Important Auction & Property Update
ADDENDUM
To the Catalogue for
Auction Sale: 15 May 2025

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 4
Howden Insurance, 9 - 11 Eastgate Street, Gloucester, Gloucestershire, GL1 1NS
Please note the property has the following approximate floor areas and not as stated in the auction catalogue:
Ground | 157.40 sq m | 1694 sq ft |
First | 149.47 sq m | 1609 sq ft |
Second | 70.60 sq m | 760 sq ft |
Total | 377.45 sq m | 4,063 sq ft |
The floor areas are provided for a use as a guide only and do not form part of the contract of sale.
The completion of this sale will be 30 business days after the Contract Date, as stated in the Special Conditions of Sale.
Lot 6
4 South Grove, Highgate, London, N6 6BS
Sold prior to auction.
Lot 8
197 Muswell Hill Broadway and 197a & 197b Avenue Mews, Muswell Hill, London, N10 3RS
The agreed completion date will be 30 business days after the contract date or earlier by agreement, contrary to what is stated within the special conditions of sale.
Lot 12
Beetwell House, Beetwell Street, Chesterfield, Derbyshire, S40 1TF
Please note that the ground rent payable in respect of the Lease of Beetwell House is £18,045.44 per annum and not as stated in the particulars. The licence fee payable in respect of the Licence of the car park is £2,000.00 per annum.
Please note that the freeholders are Peter Derek Boult and John David Lee Boult and not as stated in the particulars.
Sold prior to auction.
Lot 22
37-38 Market Street, Falmouth, Cornwall, TR11 3AR
The completion of this sale will be 30 business days after the Contract Date, as stated in the Special Conditions of Sale.
Lot 28
Land Adjoining Gallagher Retail Park, Barrey Road, Ashford, Kent, TN23 7DH
With reference to the reply to enquiry 3.2 of the replies to CPSE 1 dated 12 May 2025 contained in the Auction pack, the SELLER has now received a service charge invoice from Cadeleigh Estates on behalf of Beaver Estates (Ashford) Investments Limited for the period commencing on 29 September 2020 and ending on 23 June 2025. A copy of the invoice (dated 5 March 2025) is provided. The SELLER has not been provided with any service charge certificate or itemised accounts in respect of the amounts invoiced as such information is required pursuant to the terms of the Transfer dated 6 June 1986 made between (1) Downs View (Investments) Limited and (2) Northern Foods plc. The SELLER is requesting this information from Cadeleigh Estates with a view to then querying the level of service charge that has now been invoiced.
For the avoidance of doubt, the service charge for the current period (the period beginning on 25 March 2025 and ending on 23 June 2025) as detailed in the invoice dated 5 March 2025 will fall to be apportioned between the SELLER and the BUYER pursuant to GENERAL CONDITION G10.
Lot 30
Specsavers, 17 Park Street, Walsall, West Midlands, WS1 1LY
VAT is not payable as the transaction is exempt, contrary to what was stated in the auction particulars of sale.
Please note that completion of the sale will be 30 business days after the Contract Date, as stated in the Special Conditions of Sale. Please note that, as specified in the Special Conditions of Sale, the Seller has granted a rent-free period to the equivalent of £20,000 from 25 March 2025. On completion, the Seller will give an allowance to the Buyer for the remainder of the rent-free period from the date of completion for the remainder of the rent-free period pro-rata for the appropriate quarter.
Lot 31
9-17 Victoria Viaduct, Carlisle, Cumbria, CA3 8AJ
Please note that as stated in Extra Special Condition 9 in the legal pack, the Buyer shall pay to the Seller 1% of the price plus VAT as a contribution towards the Sellers costs of the sale of the property. The auctioneers have been unable to inspect the lower ground car parking area and the offices at the front of the building at the time of our inspection as these parts of the property were locked. Please note the approximate floor areas on the Valuation Office website are stated below, and differ from those stated in the auction particulars:
Use | Floor | Floor Area Approx sq m | Floor Area Approx sq ft |
Supermarket | Ground First | 2,339.00 1,236.00 | (25,176) (13,304) |
Office | First Second | 123.00 | (1,324) (1,496) |
Car Park | - | 229.00 | (2,464) |
Please note that the approximate floor areas do not constitute any part of the Auction Sale Contract.
Lot 32
44-50 Woodfield Street, Morriston, Swansea, SA6 8AG
For the avoidance of doubt, the Tenant is not in occupation or trading from the property.
Lot 33
138/140 High Street, Bromsgrove, Worcestershire, B61 8ES
The address for the property being offered for sale is referred to as 140 High Street, Bromsgrove, B61 8ES within Office Copy Register HW44961 and not as stated within the auction particulars. The mark up in the occupiers plan within the auction particulars does not correctly identify the property for sale. The correct mark up of the property being offered for sale is detailed within the Title Plan HW44961 which is available to inspect within the legal pack and the Buyer is deemed to have purchased the property with full knowledge thereof. The Valuation Office Agency floor areas for the Age UK shop stated within the Tenancy & Accommodation schedule in the auction particulars are incorrect and the Tenancy & Accommodation schedule is to be amended as follows:
Floor | Use | Floor Areas Approx sq m | Floor Areas Approx sq ft | Tenant | Term | Rent p.a.x. |
Ground First | Retail Ancillary | 141.68 90.38 | (1,525) (972) | AGE UK (1) | 5 years from 29/11/2024 (2) | £22,500 |
Ground First Second | Retail Ancillary Ancillary | 410.80 475.20 453.40 | (4,421) (5,115) (4,880) | ARGOS LIMITED (3) | 5 years from 22/07/2024 (4) | £46,500 |
Total | 1,571.46 | (16,913) (5) | £69,000 |
(1) Age UK (CRN: 1092198) is a registered charity operating from over 250 stores across the UK (www.ageuk.org.uk).
(2) The lease provides a tenant option to determine on 29/11/2027.
(3) For the year ending 02/03/2024 Argos Limited reported a Turnover of £4,225,449,000, a Pre-Tax Profit of £37,345,000 and a Net Worth of £145,072,000 (NorthRow 04/04/2025).
(4) The lease provides a tenant option to determine on 22/07/2027.
(5) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
N.B. There is an electricity substation on the site.
Lot 39
Chantry House, 29-31 Pyle Street, Newport, Isle of Wight, PO30 1JW
The property benefits from a Right of Way over land at the rear of the property to South Street as set out in A3 of the title no IW34147. The Corresponding Right of Way is noted on the title no IW31763, a copy of which has been added to the Legal Pack
Lot 41
368 Kirkstall Road, Leeds, West Yorkshire, LS4 2HQ
Sold prior to auction.
Lot 43
A4 Kingfisher House, Kingsway North,, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0JQ
The property is let to Educational Development Trust for a term from 1st April 2018 until 30th September 2018. The tenant is currently holding over at a current rent reserved of £28,000 per annum exclusive and not as stated in the Auction sales particulars.
Lot 44
47-49 Balderton Gate, Newark-on-Trent, Nottinghamshire, NG24 1UE
Sold prior to auction.
Lot 45
St Mary's Court, Huntly Street, Aberdeen, AB10 1TH
The annual rent payable by Fifth Ring Limited is £67,860 p.a.x. We understand that the rent paid in practice is £67,050 p.a.x. Please see the legal pack for further information.
Lot 47
32-36 Fraser Place, Aberdeen, AB25 3TY
Please note that VAT is not applicable to this lot.