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PROPERTY AUCTION CATALOGUE wednesday 14 May 2014 at 11:00 am the legends lounge birMinghaM city football club st andrew’s stadiuM, birMinghaM b9 4nh
www.pennycuick.co.uk
NA_PCC_A5_COVER_MAY 14.indd 2 23/04/2014 12:16 WelCoMe stuARt tullAh FnAVA FnAeA MARlA
Pennycuick Collins is delighted to announce that it has linked up with leading London based Auctioneers Network Auctions. this joint venture will see us running property auctions in both birmingham and london and we welcome you to our first catalogue. our March auction was a great success with a very busy saleroom, an 83% sales rate and sales topping £1m. pennycuick collins proudly maintains the highest sales success rate of any birmingham based auctioneer over the last 10 years (source: www.eigroup.co.uk). for buyers we provide a range of bidding options, including telephone and proxy. our venue is very comfortable and there is ample free parking right outside the door. for sellers we guarantee excellent exposure to the marketplace and our new venture with leading uK auction house network auctions means our clients have a unique opportunity to sell through a birmingham or london saleroom. our auction catalogues and newsletters are now distributed to an even wider audience of potential buyers, investors and ‘property people’. both pennycuick collins and network auctions enjoy a sizeable following on social media. follow us on twitter: @pennycuickcoll & @networkauctions. we are already accepting entries to our upcoming auctions on 25th June in london and on 16th July in birmingham and if you have a property to sell please contact us. to find out more about pennycuick collins and its wide range of professional services visit our website at www.pennycuick.co.uk. we look forward to seeing you on 14th May.
stuart tullah FnAVA FnAeA MARlA, Auctioneer
Venue loCAtion the legends lounge, birmingham city fc, st andrew’s stadium, birmingham b9 4nh
directions TERY LANE TERY
getting to st. Andrew’s WA birmingham city football club is located a VENETIA ROAD mile and a half from birmingham city centre and is easily accessible from all major road TO M6 GARRISON LANE
routes and motorway networks. ST. ANDREW’S STREET
tRAnspoRt links LANE
nearest train stations: A45 TO DIGBETH HIGH STREET TE RY ON ROAD
Birmingham new street: 1.3 miles TI LT
Birmingham Moor street: 1.9 miles A4540 WA www.bcfc.com COVENTRY ROAD CATTELL ROAD
CAR PARK A45 SMALL HEATH HIGHWAY ENTRANCE COVENTRY ROAD ARTHUR ROAD ARTHUR
TO NEC M42 (J6)
A4540 HIGHGATE MIDDLEWAY ROAD HERBERT M1, M45 & M40
NA_PCC_A5_COVER_MAY 14.indd 3 23/04/2014 12:16 order of sale
LOT ADDRESS GUIDE PRICE
1 90 Stoney Lane, Sparkhill, Birmingham, B12 8AF £120,000 - £125,000
2 34 Bennett Road, Four Oaks, Sutton Coldfield, B74 4TH £450,000 - £475,000
3 15 Endwood Court, 1 Handsworth Wood Road, £42,000 - £44,000 Handsworth Wood, Birmingham B20 2RZ
4 76 Baltimore Road, Great Barr, Birmingham, B42 1QN £80,000 - £85,000
5 1 Oak Tree Lane, Selly Oak, Birmingham B29 6JE £150,000
6 Land at Fastmoor Oval, Feltham Close & Byfield Close, Nil Reserve Tile Cross, Birmingham, B33 0NR
7 1133 - 1137 Pershore Road, Stirchley, Birmingham, B30 2YJ £220,00 - £225,000
8 21 Glaisdale Road, Hall Green, Birmingham, B28 8PX £150,000 - £155,000
9 8 Wyvern Grove, Selly Oak, Birmingham, B29 6RN £125,000 - £130,000
10 Flat 5 Unett Court, St Matthews Road, Smethwick, B66 3TN £25,000
11 Flat 6 Unett Court, St Matthews Road, Smethwick, B66 3TN £25,000
12 58 Gold Street, Wellingborough, Northamptonshire NN8 4QT £82,000+
13 Flat 4, 19 Bedford Square, Brighton, East Sussex, BN1 2PN £65,000+
NA_PCC_A5_INNER_MAY 14.indd 1 23/04/2014 11:35 Important notIces to be read by all bIdders
Conditions of Sale contract the vendor reserves the right with the Auctioneers by telephone, or to claim any loss suffered as a result. on their website, at any time prior to 1 All lots will, unless previously the auction that any particular lot is sold or withdrawn, be sold subject 4 Where a bidder is bidding on behalf still to be offered in the saleroom. to the Common Auction Conditions of someone else (a third party), the (Edition 3) (printed at the rear of Auctioneer will treat the bidder as 9 Auction catalogue amendments this catalogue) and the special bidding personally for themselves, (addendum) are displayed in the and standard conditions of sale unless the third party has given a letter saleroom on the day of sale and which have been prepared by the of authority to the Auctioneer prior are read by the Auctioneer at vendor’s solicitors. These conditions to the auction commencing and has the commencement of saleroom are available for inspection at the proved their identity and address, and proceedings. All bidders are deemed Auctioneers’ offices and on its that of the bidder, to the Auctioneer’s to be aware of any addendum website (www.pennycuick.co.uk), satisfaction. Please consult the and any other announcements and will be available in the saleroom Auctioneers for further guidance in made by the Auctioneer and bid on the day of the auction, but will not respect of third party bidding. subject to these addendum and then be read. All bidders are deemed announcements. It is essential to have inspected these conditions, 5 A successful bidder is liable for therefore to arrive at the saleroom and bid upon these terms. insuring the property as soon as the prior to the commencement of Auctioneer’s gavel falls, and should proceedings at 11.00am so there is have made prospective arrangements 2 Bidders are assumed to have time to check any addendum and beforehand. inspected any property they bid for, and hear any announcements. are assumed to have made whatever 6 The purchaser is required to enquiries are prudent including 10 Arrangements to view any complete the purchase twenty eight pre-contract searches and enquiries, lot must be made through the days after the date of the auction, enquiries to relevant authorities, service Auctioneers’ office. No guarantee is unless the Auctioneer or special providers, or other bodies, and are given that viewing of any particular conditions of sale specify otherwise. assumed to have taken professional lot will be possible and viewing of The purchaser must have made advice with regard to the title and tenanted properties is by courtesy suitable finance arrangements in condition of the property. of the tenant. The Auctioneers will good time prior. however make every reasonable effort 3 When the Auctioneer’s gavel falls to make lots available for viewing. the successful bidder has entered 7 The Auctioneers may make into a binding contract to purchase guide prices available for certain 11 The Auctioneer reserves the the property. The purchaser must lots and these will be published in right to refuse to accept bids, and then present immediately to the the catalogue, and may also be need not explain why. If there is any Auctioneer’s clerk their name, obtained from the Auctioneers’ office dispute relating to bids or bidding, the address, solicitors’ details and or website. The Auctioneers cannot Auctioneer shall be entitled to resolve telephone numbers. The purchaser accept any responsibility for the the dispute, and his decision shall be must then sign and exchange accuracy of guide prices, as they final. Unless stated otherwise each contracts with the vendor’s solicitors are intended as a guide only. Any lot is subject to a reserve price. If no (or their agents) prior to leaving guide prices or estimates of value bid equals or exceeds the reserve the saleroom. At the same time mentioned by the Auctioneers or the purchaser must pay to the their representatives cannot be relied price the lot will be withdrawn from the Auctioneers (or their agents) a upon, and prospective purchasers are auction. The vendor may bid, or ask deposit, by cheque or debit card, for deemed to have taken professional the Auctioneer or another agent to bid 10% of the purchase price (or £2,500, advice with regard to the value of any on his behalf, up to but not equalling whichever is the greater). lot for which they bid. or exceeding the reserve price.
Proof of identity and address will be 8 The vendor of any lot has the right 12 There is an administration required from purchasers, as detailed to sell that lot prior to the auction, or charge payable by the purchaser on the opposing page. withdraw it from the auction. Neither to the Auctioneers of £750 plus vat the vendor nor the Auctioneers will in respect of all lots offered for sale In default of any part of the above, the be responsible for any abortive in this auction catalogue, whether Auctioneer shall be entitled as agent costs, loss or damages incurred by they are purchased in the auction for the vendor to treat the failure or a prospective purchaser. Enquiries saleroom, prior to auction, or post default as repudiation and rescind the to the Auctioneers as to whether a lot auction. This charge must be paid to contract. Thereafter the Auctioneer has been sold prior to, or withdrawn the Auctioneers in the saleroom, or shall be entitled to re-offer the property from, the auction are valid only up where the lot is purchased prior to, for sale. If the purchaser does not pay to the time that the enquiry is made. or post auction, upon receipt of the the deposit and/or does not sign the Prospective purchasers can check Auctioneer’s invoice.
NA_PCC_A5_INNER_MAY 14.indd 2 23/04/2014 11:35 13 The Auctioneers reserve the right proxy bidding. The Auctioneers do not the auction. Any amendment to the to photograph successful bidders for take electronic bids of any kind. date or venue will be posted on the security purposes, and to tape record Auctioneers’ website as soon as it and/or film the auction proceedings. 15 The date of the auction is is known. provisional only and whilst the 14 The Auctioneers reserve the right Auctioneers will take all steps 16 For clarity, the following lots are at their discretion to take telephone to ensure that the auction takes not being offered for sale with vacant bids and make proxy bids from place on the date and at the venue possession, but are subject to the prospective purchasers. Please indicated, there may be exceptional existing tenancies as stated in the consult the Auctioneers for further circumstances that make it necessary catalogue. These lots are numbers: guidance in respect of telephone and to change the date or venue or cancel to be specified in the catalogue.
The Property Misdescriptions Act 1991
The Auctioneers have not tested any apparatus, IMPORTANT NOTICE equipment, fixtures, fittings or services, and so do not verify that they are in working order, fit for their purpose or To comply with Anti Money Laundering within the ownership of the vendor. Therefore prospective Regulations Pennycuick Collins must purchasers must assume that the information given is verify the identity of purchasers. incorrect. Neither have the Auctioneers checked the legal purchasers must provide proof of identity and documentation to verify the legal status of the property or proof of residential address. Anyone intending to the validity of any guarantee. Prospective purchasers must bid in the auction saleroom must provide a document assume that the information is incorrect, until it has been from each of the following two groups. These will be verified by their own Solicitor. necessary when completing formalities: Any measurements supplied are for general guidance and as • UK Passport or Photocard Driving Licence such must be considered as incorrect. Prospective purchasers To prove identity are advised to re-check the measurements themselves before • Recent Utility Bill, Council Tax Bill or committing to any expense. Nothing concerning the type bank statement of construction or the condition of the structure is to be implied from the photograph/s of the property. As proof of residential address Deposit payments can be made by either: Information in this catalogue may change in the course of time, and any interested party is advised to make a final • Bankers Draft or Building Society Cheque inspection of the property prior to the auction date. • Personal or Company Cheque • Debit Card Misrepresentation Act 1967 When obtaining a cheque from a Bank/Building This catalogue is prepared as a general guide only Society we would recommend that it be for 10% of and should not be relied upon as a basis to enter into your maximum bid. Any necessary adjustment will be a legal contract, or to commit to expense. Interested made at completion. parties should consult their own Surveyor, Solicitor or If you have any questions relating to proof of identity other professionals before committing themselves to or deposit payment please contact the Auctioneers in any expense or legal commitment. If any interested good time prior to the auction commencing. party wishes to rely upon any information from the Auctioneers, then a request should be made and specific written confirmation can be provided where possible. The Auctioneers will not be responsible for any verbal statement made by a member of their staff, as only specific written confirmation should be relied upon. The Auctioneers will not be responsible for any loss, other than when specific written confirmation has been provided.
NA_PCC_A5_INNER_MAY 14.indd 3 23/04/2014 11:35 aUCTioneeRS’ noTeS
GUIDE PRICES DEPOSITS The guide prices published in this The deposit required in the saleroom catalogue are provisional and any alterations to is 10% of the purchase price (subject to a them will be shown on the auctioneer’s website minimum of £2,500). This can be paid by (www.pennycuick.co.uk) where an up to date cheque (payable to Pennycuick Collins) or guide price list will be maintained. debit card. The Auctioneers cannot accept any responsibility LEGAL DOCUMENTS & for the accuracy of guide prices as they are ADDITIONAL COSTS intended as a guide only. Any guide prices or It is essential that interested parties check the estimates of value mentioned by the Auctioneers legal documents prior to bidding and take or their representatives cannot be relied upon, professional advice. Special conditions of sale and interested parties are deemed to have taken can contain additional costs (that is costs over professional advice with regard to the value of and above the price that the lot is ‘knocked any lot for which they bid. down’ at) and interested parties are deemed to be aware of any additional costs prior to bidding. PRE-AUCTION OFFERS Any interested party wishing to submit an ADDENDUM & AUCTIONEER’S offer prior to auction must do so in writing ANNOUNCEMENTS to the Auctioneers’ office, either by letter or Auction catalogue amendments (addendum) e.mail, including their name, address, telephone will be displayed in the saleroom and will be number/s, amount of offer and details of read by the Auctioneer at the commencement their solicitors. of the auction. All bidders are deemed to be aware of any addendum, and any other Any pre-auction offers received are assumed announcements made by the Auctioneer, to be ‘best offers’ and no guarantee is given and bid subject to these addendum and that there will be an opportunity to increase or announcements. It is essential therefore to review the offer should it not be accepted or arrive at the saleroom by 11.00am. should a better offer be received. Pre-auction offers can only be considered on the basis of an exchange of contracts prior to auction with a 10% deposit. If an offer is accepted the lot will not be withdrawn from the catalogue or advertising programme until exchange of contracts has taken place. PURCHASER’S ADMINISTRATION CHARGE There is a purchaser’s administration charge of £900 (i.e. £750 plus vat). This charge applies whether the lot is bought in the auction saleroom, prior to auction, or post auction and can be paid by cash, cheque or debit card. A vat receipt will be provided.
NA_PCC_A5_INNER_MAY 14.indd 4 23/04/2014 11:35 LOT bIrmIngham GUiDe PRiCe: 1 90 SToney Lane, SPaRKhiLL, B12 8aF £120,000 - £125,000
Mixed commercial/residential freehold investment property. Status: Freehold Investment – shop & flat. Location: The property is situated on Description: Stoney Lane between its The property is a two storey building in a highly sought after area. junctions with Alfred Road and The ground floor is let to a ‘hot food’ (A5) business and the extended Fulham Road close to Stratford accommodation includes a ramped access, roller shutter, seating Road and the heart of Sparkhill. area (café style), counter and servery, kitchen/food preparation area, Completion: refrigeration room with extraction unit, staff wc and storage room. Completion will be 28 days There is a residential flat to the first floor which has accommodation to after exchange of contracts. include a rear access, kitchen, bathroom, lounge and bedroom. Viewing/enquiries: There is a yard to the rear included in the ground floor lease. There is Strictly by arrangements also vehicle access to the rear for delivery purposes. with the auctioneers pennycuick collins Tenure: network auctions Freehold – subject to the following leases. 0121 665 4150 Ground floor shop: Let for a 5 year term from 6/2/2014 at a rent of £9,600 per annum. First floor flat: Let on an Assured Shorthold Tenancy at a rent of £450 per month. Rental income: The current rental income is £15,000 per annum
NA_PCC_A5_INNER_MAY 14.indd 5 23/04/2014 11:35 LOT SUTTon CoLDFieLD GUiDe PRiCe: 2 34 BenneTT RoaD, FoUR oaKS, B74 4Th £450,000 - £475,000
A four bedroom detached residence in Four Oaks. Status: Vacant possession. Tenure: Freehold. Description: Location: The property is a detached residence that has been extended and Bennett Road can be provides spacious family accommodation featuring four bedrooms, approached from either two of which have en-suites. Walsall Road or Streetly Lane. The property is well presented throughout, benefits from central heating Completion: and double glazing, and enjoys a high standard of fitments to kitchen, Completion will be 28 days bathroom and both en-suites. after exchange of contracts. Bennett Road falls within a highly desirable residential area of Sutton Coldfield, close to Sutton Park and a few minutes’ drive from Butlers Viewing/enquiries: Lane railway station. Strictly by arrangements with the auctioneers Parking space is provided to the front driveway and tandem garage. pennycuick collins network auctions accommodation: 0121 665 4150 Ground Floor: Fully enclosed porch, entrance hall with cloakroom off, lounge, dining room, well fitted breakfast kitchen, utility room. First Floor: Landing, 4 bedrooms (2 with en-suites), family bathroom. Front Garden: There is a lawn and brick paved driveway leading to garage. Rear Garden: There is a lawned rear garden with patio, greenhouse and pergola. Tandem Garage: The double garage has a personal door to the utility room.
NA_PCC_A5_INNER_MAY 14.indd 6 23/04/2014 11:35 LOT bIrmIngham GUiDe PRiCe: 15 enDwooD CoURT, 1 hanDSwoRTh wooD RoaD, £42,000 - £44,000 3 hanDSwoRTh wooD, B20 2RZ
Third floor flat in Handsworth Wood. Status: Vacant possession. Location: Endwood Court is situated Description: on Handsworth Wood Road, A two double bedroom third floor flat. between its junctions with Endwood Court is a purpose built block at the corner of Handsworth Church Lane and Endwood Wood Road and Church Lane and is surrounded by extensive well Court Road. tended gardens. Completion: accommodation: Completion will be 28 days The accommodation includes a hallway, lounge with balcony, after exchange of contracts. kitchen, 2 double bedrooms (with balcony off bedroom 1) and bathroom with shower. Viewing/enquiries: Strictly by arrangements The block has an entrance lobby with a security door entry system and lift. with the auctioneers pennycuick collins Tenure: network auctions The property is leasehold for a term of 99 years from 25/3/1963 subject to 0121 665 4150 a current annual ground rent of £32.50 half yearly. The unexpired term of lease is approximately 48 years. Pennycuick Collins is the managing agent of Endwood Court.
NA_PCC_A5_INNER_MAY 14.indd 7 23/04/2014 11:35 Take your pick From our selection of flexible funding options
With 24 hour funding available we can provide finance before, during or even after an auction
We have a flexible approach and can help you match or beat any like-for-like quote
working in association with Scott Hendry Phil mabb Charissa Chang Laura Morgan 07778 150 845 07808 642 547 07540 203 922 07714 316 568
0161 333 1970 @AuctionFinance auctionfinance.co.uk
subject to status and standard fees
NA_PCC_A5_INNER_MAY 14.indd 8 23/04/2014 11:35 LOT bIrmIngham GUiDe PRiCe: Take your pick 4 76 BaLTimoRe RoaD, GReaT BaRR, B42 1Qn £80,000 - £85,000 From our selection of flexible funding options
With 24 hour funding available we can provide finance before, during or even after an auction
A freehold end town house residence. Status: Vacant possession. Location: Baltimore Road runs between Description: Lavendon Road and Rocky The property is a traditional end town house residence in a popular Lane. residential area off Rocky Lane and close to Hamstead Village. Hamstead railway station (on There is two bedroom accommodation with the benefits of gas radiator the Birmingham New Street to central heating and partial double glazing. Walsall line) and the shops at Hamstead Village are within The property sits well back from the roadside behind a grass verge. a short walk. The property would be an excellent letting investment. Completion: accommodation: Completion will be 28 days Ground Floor: Entrance hall, reception room, kitchen, utility room. after exchange of contracts. First Floor: Landing, 2 double bedrooms, bathroom with shower. Viewing/enquiries: Front Garden: There is a front garden with pathway. Strictly by arrangements Rear Garden: There is a mainly lawned rear garden with paved area. with the auctioneers pennycuick collins Tenure: Freehold. network auctions 0121 665 4150
working in association with Scott Hendry Phil mabb Charissa Chang Laura Morgan 07778 150 845 07808 642 547 07540 203 922 07714 316 568
0161 333 1970 @AuctionFinance auctionfinance.co.uk subject to status and standard fees
NA_PCC_A5_INNER_MAY 14.indd 9 23/04/2014 11:35 LOT bIrmIngham 5 1 oaK TRee Lane, SeLLy oaK, B29 6Je
Prominent & substantial freehold three storey retail premises. Status: Vacant possession. Description: The property comprises three storey premises forming part of a prominent parade at the corner of Oak Tree Lane and Bristol Road in the heart of Selly Oak. The parade includes a number of established businesses including an estate agent, newsagent, solicitors’ office, jeweller and chemist. There are bus stops in very close proximity and the railway station within around a third of a mile. There is a yard and parking area to the rear. The property traded until recently and for many years as a butchers business and has closed due to expansion and re-location.
NA_PCC_A5_INNER_MAY 14.indd 10 23/04/2014 11:35 GUiDe PRiCe: £150,000
accommodation: The ground floor offers extensive space to include a retail area, main preparation area, cold store, freezer store, lobby and wc. There is a large basement with additional cold store and freezer units. To the first and second floors there are four rooms, currently laid out as two bedrooms, kitchen and bathroom. To the rear of the property there is a yard area which includes parking space for three vehicles. This is approached from Lottie Road. Tenure: Freehold. Location: The property is situated very prominently at the junction of Oak Tree Lane (A4040) and Bristol Road (A38/B384) in a very busy parade. Completion: Completion will be 28 days after exchange of contracts.
Viewing/enquiries: Strictly by arrangements with the auctioneers pennycuick collins network auctions 0121 665 4150
NA_PCC_A5_INNER_MAY 14.indd 11 23/04/2014 11:35 LOT bIrmIngham 6 LanD aT FaSTmooR oVaL, FeLTham CLoSe & ByFieLD CLoSe, TiLe CRoSS, B33 0nR
Garage forecourts & amenity land. Description: The freehold interest in various pieces of land at Fastmoor Oval, Feltham Close and Byfield Close including: • Garage forecourt off Fastmoor Oval (between numbers 16 & 18) • Amenity Land off Fastmoor Oval (between numbers 39 & 41) • Former garage forecourt to the rear of number 1-15 Byfield Close • Amenity Land approached from the right hand side of 84 Fastmoor Oval • Various walkways and pathways There may be potential, subject to planning permission, to develop land at the garage and former garage forecourts. Tenure: Freehold Title: The land is held in a registered freehold title numbered WK187592
NA_PCC_A5_INNER_MAY 14.indd 12 23/04/2014 11:35 bIrmIngham GUiDe PRiCe: LanD aT FaSTmooR oVaL, FeLTham CLoSe & ByFieLD CLoSe, TiLe CRoSS, B33 0nR nil reserve
Location: Fastmoor Oval can be approached from Cumberford Avenue which lies off Tile Cross Road. Feltham Close and Byfield Close both run off Fastmoor Oval. auctioneers’ notes The plan can be inspected at the Auctioneers’ offices or can be viewed and downloaded from the auctioneers’ website: www.pennycuick.co.uk The land is offered for sale subject to any rights that may exist over the same. Completion: Completion will be 28 days after exchange of contracts.
Viewing/enquiries: Strictly by arrangements with the auctioneers pennycuick collins network auctions 0121 665 4150
Planning authority: Birmingham City Council Planning & Regeneration department Telephone: 0121 303 1115 Website: www.birmingham.gov.uk/planningonline
NA_PCC_A5_INNER_MAY 14.indd 13 23/04/2014 11:35 LOT bIrmIngham 7 1133 - 1137 PeRShoRe RoaD, STiRChLey, B30 2yJ
Car breaker’s yard & pair of semi detached houses. The property includes a car breaker’s yard, with a waste management Licence, fronting Pershore Road, and a pair of semi detached houses. The car breaker’s business operated successfully from the premises for many years. Status: Vacant possession. Description: The breaker’s yard occupies number 1137 and an additional area to the rear of the two houses. A plan of the site is available from the selling agents upon request. The property enjoys a prominent frontage to Pershore Road (A441) which a busy main road and bus route into Birmingham. There is potential to redevelop the site, subject to planning permission, and interested parties should make their own enquiries. There are ‘vacant’ land parcels to both sides of the property and incorporation of one or both of these may considerably enhance this potential. The selling agent has made no enquiries in this direction however. The houses are two storeys, are of brick construction with pitched roofs and are in need of complete refurbishment. The ground floor of house number 1135 (the left hand side house as viewed from the roadside) is used as stores for the car breaker’s business. The rear gardens could be re-instated and enclosed.
NA_PCC_A5_INNER_MAY 14.indd 14 23/04/2014 11:35 bIrmIngham GUiDe PRiCe: 1133 - 1137 PeRShoRe RoaD, STiRChLey, B30 2yJ £220,00 - £225,000
Tenure: Freehold. Location: The property is situated at Pershore Road between Dogpool Lane and Warward’s Lane approximately three miles south of Birmingham city centre. auctioneers’ notes The current owner will clear the site prior to completion. Alter- natively the vehicles and stock are available to the purchaser by negotiation. Completion: Completion will be 28 days after exchange of contracts.
Viewing/enquiries: Strictly by arrangements with the auctioneers pennycuick collins network auctions 0121 665 4150
waste management Licence The licence is issued by the Environment Agency and carries licence number 42515, ‘Site Type’ A19 and ‘trading Name’ Stirchley Spares. Interested parties must make their own enquiries with respect to the validity, conditions, renewal and transfer of the licence.
NA_PCC_A5_INNER_MAY 14.indd 15 23/04/2014 11:35 LOT bIrmIngham GUiDe PRiCe: 8 21 GLaiSDaLe RoaD, haLL GReen, B28 8PX £150,000 - £155,000
A traditional freehold semi detached residence. Status: Vacant Possession. Location: Glaisdale Road lies off Lakey Description: Lane close to its junction with An attractively styled traditional semi detached residence offering Shirley Road and School Road. accommodation to include two reception rooms and three bedrooms. Completion: The property offers gas radiator central heating and double glazing. Completion will be 28 days The property occupies a wide corner plot with considerable scope for after exchange of contracts. extension and enlargement (subject to planning permission). Viewing/enquiries: accommodation: Strictly by arrangements Ground floor: Porch, entrance hall, front reception room, with the auctioneers rear reception room, kitchen. pennycuick collins First Floor: Landing, 3 bedrooms, bathroom, separate wc. network auctions 0121 665 4150 Front Garden: The front garden is lawned with a pathway leading to the porch. Rear Garden: There is a mainly lawned rear garden. Parking Space: There is a driveway that provides space. Tenure: Freehold.
NA_PCC_A5_INNER_MAY 14.indd 16 23/04/2014 11:35 LOT bIrmIngham GUiDe PRiCe: 9 8 wyVeRn GRoVe, SeLLy oaK, B29 6Rn £125,000 - £130,000
A traditionally styled detached residence. Status: Vacant possession. Location: Wyvern Grove is a cul-de-sac Description: off Corisande Road close to A traditional styled detached residence in a pleasant cul-de-sac position. Selly Oak Park. The property offers gas central heating and double glazing and has Completion: been extended to the rear creating a full length through lounge with Completion will be 28 days dining area. after exchange of contracts. Parking space is provided to the front driveway and to the garage Joint agents: at the rear. Rice Estates – Bournville Office accommodation: (0121 458 1123) Ground Floor: Canopy porch, entrance hall, extended through lounge with dining area, kitchen, covered side verandah. Viewing/enquiries: Strictly by arrangements First Floor: Landing, 2 double bedrooms, bathroom. with the auctioneers Front Garden: There is a brick paved frontage providing parking space. pennycuick collins Front Garden: There is a mainly lawned rear garden. network auctions 0121 665 4150 Garage: There is a garage to the rear of the property. Tenure: Freehold.
NA_PCC_A5_INNER_MAY 14.indd 17 23/04/2014 11:35 LOT SmeThwiCK GUiDe PRiCe: 10 FLaT 5 UneTT CoURT, ST maTThewS RoaD, B66 3Tn £25,000
Long leasehold studio flat investment. Status: Residential Investment. Location: Unett Court is at the corner Description: of St Matthews Road and A first floor studio flat offering double glazed accommodation. Windmill Lane (B4136). The property is let on an Assured Shorthold Tenancy. Windmill Lane can be accommodation: approached from either Grove The accommodation includes a hallway, living room (lounge cum Lane/Soho Way or Cape Hill/ bedroom), re-fitted kitchen (with oven/hob and fridge) and bathroom. High Street, Smethwick. The block has an entrance lobby with a security door entry system and Completion: there is a parking area. Completion will be 28 days after exchange of contracts. Tenure: The property is leasehold for a term of 125 years from 1st January 2007 Viewing/enquiries: subject to a current annual ground rent of £125. Strictly by arrangements with the auctioneers The unexpired term of lease is therefore in excess of 117 years. pennycuick collins The service charge for calendar year 2014 has been set at £291.06 network auctions and is demanded half yearly. 0121 665 4150 Tenancy: Tenancy: Assured Shorthold Tenancy Rent: £295 per month Date: The property was let on 28/3/2014 Term: Initially for a six month fixed term
NA_PCC_A5_INNER_MAY 14.indd 18 23/04/2014 11:35 LOT SmeThwiCK GUiDe PRiCe: 11 FLaT 6 UneTT CoURT, ST maTThewS RoaD, B66 3Tn £25,000
Long leasehold studio flat investment. Status: Residential Investment. Location: Unett Court is at the corner Description: of St Matthews Road and A first floor studio flat offering double glazed accommodation. Windmill Lane (B4136). The property is let on an Assured Shorthold Tenancy. Windmill Lane can be accommodation: approached from either Grove The accommodation includes a hallway, living room (lounge cum Lane/Soho Way or Cape Hill/ bedroom), re-fitted kitchen (with oven/hob and fridge) and bathroom. High Street, Smethwick. The block has an entrance lobby with a security door entry system and Completion: there is a parking area. Completion will be 28 days after exchange of contracts. Tenure: The property is leasehold for a term of 125 years from 1st January 2007 Viewing/enquiries: subject to a current annual ground rent of £125. Strictly by arrangements with the auctioneers The unexpired term of lease is therefore in excess of 117 years. pennycuick collins The service charge for calendar year 2014 has been set at £291.06 network auctions and is demanded half yearly. 0121 665 4150 Tenancy: Tenancy: Assured Shorthold Tenancy Rent: £325 per month Date: The property was let on 28/3/2014 Term: Initially for a six month fixed term
NA_PCC_A5_INNER_MAY 14.indd 19 23/04/2014 11:35 LOT weLLinGBoRoUGh 12 58 GoLD STReeT, noRThamPTonShiRe nn8 4QT
A freehold semi detached house with gardens, let on an AST (now periodic). Status: Let. Description: Situated in a residential location, Wellingborough station 0.9 miles. Let on an AST at £495 pcm commencing on 5 July 2013. The house is semi detached (attached to 60 Gold Street), the garage and walkway of 52 Gold Street adjoin the detached wall of 58 Gold Street. accommodation: Ground Floor: Entrance hall, living room/dining room, kitchen, sun room. First Floor: Landing, 3 rooms, bathroom. Outside: Gardens front and rear. Tenure: Freehold. current rental Value: £5,940 pa Completion: Under common auction conditions, 20 working days after exchange of contracts.
NA_PCC_A5_INNER_MAY 14.indd 20 23/04/2014 11:35 weLLinGBoRoUGh GUiDe PRiCe: 58 GoLD STReeT, noRThamPTonShiRe nn8 4QT £82,000+
Viewing/enquiries: please contact Underwoods Town & County on 01604 232400
NA_PCC_A5_INNER_MAY 14.indd 21 23/04/2014 11:35 LOT brIghton 13 FLaT 4, 19 BeDFoRD SQUaRe, eaST SUSSeX, Bn1 2Pn
A life reversion - 2nd floor, studio flat situated in one of Brighton’s seafront squares.
Status: Life tenancy. Description: Bedford Square is situated opposite Brighton Seafront, Brighton station 0.8 miles. Subject to a life tenancy in favour of a single male aged 79. accommodation: Studio Room, kitchen, bathroom. Tenure: Shared Freehold. Completion: Under common auction conditions, 20 working days after exchange of contracts.
NA_PCC_A5_INNER_MAY 14.indd 22 23/04/2014 11:35 brIghton GUiDe PRiCe: FLaT 4, 19 BeDFoRD SQUaRe, eaST SUSSeX, Bn1 2Pn £65,000+
Viewing/enquiries: Strictly by arrangements with the auctioneers elliott network auctions 020 7871 0420
NB. Elliott Network Auctions have not inspected this property.
NA_PCC_A5_INNER_MAY 14.indd 23 23/04/2014 11:35 LONDON AUCTION
A selection of lots offered by our partners Network Auctions at our London sale on 1 May 2014 For information about these lots or our London auctions please contact Network Auctions on 020 7871 0420. For advice about selling your property at auction contact Stuart Tullah at Pennycuick Collins on 0121 665 4150 T 0121 665 4150 E [email protected]
SCUnThoRPe GUiDe PRiCe: BeLLwin hoUSe, FLiXBoRoUGh inDUSTRiaL eSTaTe, disclosed reserve £1 FLiXBoRoUGh, SoUTh hUmBeRSiDe, Dn15 8Sn
Description: Situated in a prominent position on the well established Flixborough Industrial Estate and Business Park approx 3 miles north west of Scunthorpe town centre and 2 miles north of the M181. The adjacent office building is occupied by North Lincolnshire Council. The office space is well presented and provides 10 suites on the ground floor and 16 suites at first floor level. Currently one suite (580 sq ft) is let on a 3 year lease from 3 December 2012 on FRI terms producing £2,600 pa. The individual office units are separated internally by solid walls and finished with suspended ceilings, carpets and electric heating. Great potential for existing and office / A mainly vacant detached, headquarter type uses. The building may also be suitable for a variety of alternative uses including freehold 2 storey office building/ leisure, place of worship, hotel and education all business centre (11,240 sq ft) subject to planning. occupying a site of 1.3 acres including Tenure: Freehold. a 46 bay car park, an active Current Rental Value: £2,600 pa from 1 small management or development suite of 580 sq ft. opportunity. estimated Rental Value: £67,000 pa. Viewing/enquiries: please contact surelock network auctions on 0121 766 7980
NA_PCC_A5_INNER_MAY 14.indd 24 23/04/2014 11:35 bIrmIngham GUiDe PRiCe: 85a & B anD 87a & B ViLLa RoaD, LoZeLLS, weST miDLanDS £105,000+
4 x 2 bedroom flats arranged over 2 floors above commercial premises, vacant. Description: The flats are all self contained and are accessed from the rear of 85 and 87 Villa Road via external staircases. Potential rental value of each flat is £400 - £450 pcm each. Tenure: Leasehold - lease 99 years from 1993. contact surelock network auctions on 0121 766 7980
staffordshIre GUiDe PRiCe: 13 hUnTinGTon TeRRaCe RoaD, CannoCK, wS11 5ha £59,000+
A 3 bedroom semi detached house requiring refurbishment with driveway and a large rear garden. Description: The house is situated in Chadsmoor residential area, Cannock station 1 mile. The property is fitted with double glazed windows and gas heating via radiators. Tenure: Freehold - vacant possession. contact goodchilds network auctions on 01543 500011
KiDDeRminSTeR GUiDe PRiCe: 23 woRCeSTeR STReeT, woRCeSTeRShiRe, Dy10 1eD £150,000
A substantial freehold town centre retail unit, development potential, vacant. Description: We are advised the property was last used as a carpet showroom producing an annual rent of £30,000 and the first floor has previously been used as a cafe. Potential for a wide range of retail and alternative uses subject to planning. Tenure: Freehold. contact surelock network auctions on 0121 766 7980
NA_PCC_A5_INNER_MAY 14.indd 25 23/04/2014 11:35 northampton GUiDe PRiCe: 63 ST. GeoRGeS aVenUe, noRThamPTonShiRe, nn2 6Ja £180,000+
Description: Situated in a sought after residential location, Northampton station 1 mile. Flat 1 is let on an AST for 6 months from 09/09/2013 at a rent of £340 pcm, Flat 2 is let on an AST for 6 months from 05/02/2014 at a rent of £375 pcm and Flat 3 is let on an AST for 6 months from 25/01/2014 at a rent of £410 pcm. accommodation: Ground Floor: Communal hall, living room, double bedroom, kitchen, bathroom. First Floor: Living room, kitchen, double bedroom, bathroom. Second Floor: Living room, kitchen, double An attractive 3 storey town house bedroom, bathroom. Outside: Front garden and rear garden. overlooking the racecourse Tenure: Freehold. arranged as 3 flats let on ASTs, Current Rental Value: £13,500 pa. development potential. Viewing/enquiries: Please contact Underwoods Town & County on 01604 232400
SUTTon-in-aShFieLD GUiDe PRiCe: The CRown anD wooLPaCK, FoReST STReeT, £135,000 noTTinGhamShiRe, nG17 1Da
Description: The building occupies a prominent corner site at the junction of Forest Street and Parliament Street in the town centre, Sutton Parkway station 1 mile. Great potential for a variety of uses both commercial and residential subject to planning. The sale will be subject to a restrictive covenant excluding the use of the property for the sale of alcohol, gambling or immoral purposes. accommodation: Ground Floor: Commercial. First Floor: 4 bedroom self contained flat, large function room. Outside: Yard with gated access to Forest Street. A 2 storey character building Tenure: Freehold - vacant possession. (5500 sq ft) situated close to the town Viewing/enquiries: centre, development potential, vacant. please contact surelock network auctions on 0121 766 7980
NA_PCC_A5_INNER_MAY 14.indd 26 23/04/2014 11:35 carlIsle GUiDe PRiCe: 36-38 BoTCheRGaTe, CUmBRia, Ca1 1QS £395,000+
Description: Nearby occupiers include JD Weatherspoon, Subway, Vue Cinema, Walkabout and Ladbrokes. Let on FRI terms for 15 years from 1 October 2013 producing £45,000 pa with 5 yearly fixed rental increases by 2% per annum compounded. We are advised by the seller that the tenant has occupied the property since 2005. The 2 upper floors are vacant and are self contained with separate access via Botchergate. The seller has advised us that these floors were previously let producing £15,000 pa, they have potential for a variety of alternative uses including residential subject to planning Tenure: Freehold. Freehold commercial investment estimated Rental Value: £60,000 pa. (715.51 sqm, 7701 sq ft) occupying a Viewing/enquiries: prominent town centre site producing please contact elliott network auctions £45,000 pa, upper parts vacant, on 020 7871 0420 development potential.
SToKe-on-TRenT GUiDe PRiCe: 654 hiGh STReeT, SanDyFoRD, STaFFoRDShiRe, ST6 5PJ £69,000+
Description: The house is situated in a pleasant residential street and has been extended to provide additional accommodation to the ground floor. A structural report dated 7 March 2014 refers to bulging of the left hand side wall attributed to insufficient lateral restraint. The report recommend repairs using stainless steel wall ties at an estimated cost of £4,000 to £6,000 plus VAT. Copies of the survey are available from the auctioneers. Internally the house is well presented and ready for occupation. Tenure: Freehold. estimated Rental Value: £6,600 pa. An extended 3 bedroom semi detached Viewing/enquiries: house with driveway and garden, please contact elliott network auctions vacant. on 020 7871 0420
NA_PCC_A5_INNER_MAY 14.indd 27 23/04/2014 11:35 SPECIALIST INSURANCE FOR PROPERTY PEOPLE
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For further information visit our website www.pi-professionalinsurance.co.uk
Telephone: 01789 761 660 1 Arrow Court, Adams Way, Alcester, Warwickshire B49 6PU Pi-Property Insurance and Pi-Professional Insurance are trading names of Morrison Edwards Insurance Services Limited. Authorised & Regulated by the Financial Conduct Authority Common aUCTion ConDiTionS
SPECIALIST INSURANCE FOR PROPERTY PEOPLE INTRODUCTION Auction The Common Auction Conditions have been produced for real estate auctions The auction advertised in the catalogue. The Award Winning Solution for Property Portfolio Insurance in England and Wales to set a common standard across the industry. They are Auction Conduct Conditions in three sections: The conditions so headed, including any extra auction conduct conditions. Glossary Auctioneers The complete insurance solution for your The glossary gives special meanings to certain words used in both sets The auctioneers at the auction. of conditions. Business Day property portfolio. Auction Conduct Conditions Any day except (a) a Saturday or a Sunday; (b) a bank holiday in England The Auction Conduct Conditions govern the relationship between the and Wales; or (c) Good Friday or Christmas Day. Unique Policy Cover auctioneer and anyone who has a catalogue, or who attends or bids at the Buyer auction. They cannot be changed without the auctioneer’s agreement. The person who agrees to buy the lot or, if applicable, that person’s We recommend that these conditions are set out in a two-part notice to personal representatives: if two or more are jointly the buyer their obligations Immediate Quotations bidders in the auction catalogue, part one containing advisory material can be enforced against them jointly or against each of them separately. – which auctioneers can tailor to their needs – and part two the auction Catalogue conduct conditions. The catalogue to which the conditions refer including any supplement to it. Delegated Claims Handling Sale Conditions Completion The Sale Conditions govern the agreement between each seller and buyer. Unless otherwise agreed between seller and buyer (or their conveyancers) Online Documentation They include general conditions of sale and template forms of special the occasion when both seller and buyer have complied with their conditions of sale, tenancy and arrears schedules and a sale memorandum. obligations under the contract and the balance of the price is Important Notice unconditionally received in the seller’s conveyancer’s client account. Remuneration A prudent buyer will, before bidding for a lot at an auction: Condition • Take professional advice from a conveyancer and, in appropriate cases, One of the auction conduct conditions or sales conditions. a chartered surveyor and an accountant; Contract For further information visit our website • Read the conditions; The contract by which the seller agrees to sell and the buyer agrees to buy • Inspect the lot; the lot. • Carry out usual searches and make usual enquiries; Contract Date www.pi-propertyinsurance.co.uk • Check the content of all available leases and other documents relating The date of the auction or, if the lot is not sold at the auction: to the lot; (a) the date of the sale memorandum signed by both the seller and buyer; • Check that what is said about the lot in the catalogue is accurate; or • Have finance available for the deposit and purchase price; (b) if contracts are exchanged, the date of exchange. If exchange is not • Check whether VAT registration and election is advisable; effected in person or by an irrevocable agreement to exchange made The conditions assume that the buyer has acted like a prudent buyer. by telephone, fax or electronic mail the date of exchange is the date on which both parts have been signed and posted or otherwise placed if you choose to buy a lot without taking these normal precautions beyond normal retrieval. you do so at your own risk. Documents Documents of title (including, if title is registered, the entries on the register GLOSSARY and the title plan) and other documents listed or referred to in the special This glossary applies to the auction conduct conditions and the sale Professional Indemnity conditions relating to the lot. conditions. Financial Charge Wherever it makes sense: A charge to secure a loan or other financial indebtedness (not including a Directors and O cers • singular words can be read as plurals, and plurals as singular words; rent charge). • a “person” includes a corporate body; General Conditions O ce • words of one gender include the other genders; That part of the sale conditions so headed, including any extra general • references to legislation are to that legislation as it may have been conditions. Fleet modified or re-enacted by the date of the auction or the contract date Interest Rate (as applicable); and If not specified in thespecial conditions, 4% above the base rate from time • where the following words printed in bold black type appear in bold green to time of Barclays Bank plc. (The interest rate will also apply to judgment High Net Worth Home Insurance type they have the specified meanings. debts, if applicable.) Actual Completion Date Lot The date when completion takes place or is treated as taking place for the Each separate property described in the catalogue or (as the case may For further information visit our website purposes of apportionment and calculating interest. be) the property that the seller has agreed to sell and the buyer to buy Addendum (including chattels, if any). An amendment or addition to the conditions or to the particulars or to both Old Arrears whether contained in a supplement to the catalogue, a written notice from arrears due under any of the tenancies that are not “new tenancies” as www.pi-professionalinsurance.co.uk the auctioneers or an oral announcement at the auction. defined by the Landlord and Tenant (Covenants) Act 1995. Agreed Completion Date Particulars Subject to condition G9.3: The section of the catalogue that contains descriptions of each lot (as (a) the date specified in thespecial conditions; or varied by any addendum). (b) if no date is specified, 20business days after the contract date; but if Practitioner that date is not a business day the first subsequentbusiness day. An insolvency practitioner for the purposes of the Insolvency Act 1986 (or, in Approved Financial Institution relation to jurisdictions outside the United Kingdom, any similar official). Any bank or building society that has signed up to the Banking Code or Price Business Banking Code or is otherwise acceptable to the auctioneers. The price that the buyer agrees to pay for the lot. Arrears Arrears of rent and other sums due under the tenancies and still outstanding Telephone: 01789 761 660 on the actual completion date. Arrears Schedule The arrears schedule (if any) forming part of the special conditions. 1 Arrow Court, Adams Way, Alcester, Warwickshire B49 6PU Pi-Property Insurance and Pi-Professional Insurance are trading names of Morrison Edwards Insurance Services Limited. 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NA_PCC_A5_INNER_MAY 14.indd 29 23/04/2014 11:35 Ready to Complete A3.4 Unless stated otherwise each lot is subject to a reserve price (which Ready, willing and able to complete: if completion would enable the seller may be fixed just before thelot is offered for sale). If no bid equals or to discharge all financial charges secured on the lot that have to be exceeds that reserve price the lot will be withdrawn from the auction. discharged by completion, then those outstanding financial charges do not A3.5 Where there is a reserve price the seller may bid (or ask us or prevent the seller from being ready to complete. another agent to bid on the seller’s behalf) up to the reserve price Sale Conditions but may not make a bid equal to or exceeding the reserve price. you The general conditions as varied by any special conditions or addendum. accept that it is possible that all bids up to the reserve price are bids Sale Memorandum made by or on behalf of the seller. The form so headed (whether or not set out in the catalogue) in which the A3.6 Where a guide price (or range of prices) is given that guide is the terms of the contract for the sale of the lot are recorded. minimum price at which, or range of prices within which, the seller Seller might be prepared to sell at the date of the guide price. But guide prices The person selling the lot. If two or more are jointly the seller their obligations may change. The last published guide price will normally be at or above can be enforced against them jointly or against each of them separately. any reserve price, but not always – as the seller may fix the final reserve Special Conditions price just before bidding commences. Those of the sale conditions so headed that relate to the lot. A4 The particulars and other information Tenancies A4.1 we have taken reasonable care to prepare particulars that correctly Tenancies, leases, licences to occupy and agreements for lease and any describe each lot. The particulars are based on information documents varying or supplemental to them. supplied by or on behalf of the seller. you need to check that the Tenancy Schedule information in the particulars is correct. The tenancy schedule (if any) forming part of the special conditions. A4.2 If the special conditions do not contain a description of the lot, Transfer or simply refer to the relevant lot number, you take the risk that the Transfer includes a conveyance or assignment (and “to transfer” includes description contained in the particulars is incomplete or inaccurate, “to convey” or “to assign”). as the particulars have not been prepared by a conveyancer and are not intended to form part of a legal contract. TUPE The Transfer of Undertakings (Protection of Employment) Regulations 2006. A4.3 The particulars and the sale conditions may change prior to the auction and it is your responsibility to check that you have the VAT correct versions. Value Added Tax or other tax of a similar nature. A4.4 If we provide information, or a copy of a document, provided by VAT Option others we do so only on the basis that we are not responsible for An option to tax. the accuracy of that information or document. we (and us and our) A5 The contract The auctioneers. A5.1 A successful bid is one we accept as such (normally on the fall of you (and your) the hammer). This condition A5 applies to you if you make the Someone who has a copy of the catalogue or who attends or bids at the successful bid for a lot. auction, whether or not a buyer. A5.2 y ou are obliged to buy the lot on the terms of the sale memorandum at the price you bid plus Vat (if applicable). AUCTION CONDUCT CONDITIONS A5.3 you must before leaving the auction: A1 Introduction (a) provide all information we reasonably need from you to enable A1.1 Words in bold green type have special meanings, which are defined us to complete the sale memorandum (including proof of your in the Glossary. identity if required by us); A1.2 The catalogue is issued only on the basis that you accept these (b) sign the completed sale memorandum; and auction conduct conditions. They govern our relationship with (c) pay the deposit. you and cannot be disapplied or varied by the sale conditions (even by a condition purporting to replace the whole of the A5.4 If you do not we may either: Common Auction Conditions). They can be varied only if we agree. (a) as agent for the seller treat that failure as your repudiation of A2 our role the contract and offer the lot for sale again: the seller may then A2.1 As agents for each seller we have authority to: have a claim against you for breach of contract; or (a) prepare the catalogue from information supplied by or on behalf (b) sign the sale memorandum on your behalf. of each seller; A5.5 The deposit: (b) offer each lot for sale; (a) is to be held as stakeholder where Vat would be chargeable (c) sell each lot; on the deposit were it to be held as agent for the seller, but otherwise is to be held as stated in the sale conditions; and (d) receive and hold deposits; (b) must be paid in pounds sterling by cheque or by bankers’ draft (e) sign each sale memorandum; and made payable to us on an approved financial institution. The (f) treat a contract as repudiated if the buyer fails to sign a sale extra auction conduct conditions may state if we accept any memorandum or pay a deposit as required by these auction other form of payment. conduct conditions. A5.6 w e may retain the sale memorandum signed by or on behalf of the A2.2 our decision on the conduct of the auction is final. seller until the deposit has been received in cleared funds. A2.3 we may cancel the auction, or alter the order in which lots are A5.7 If the buyer does not comply with its obligations under the contract offered for sale. we may also combine or divide lots. A lot may be then: sold or withdrawn from sale prior to the auction. (a) you are personally liable to buy the lot even if you are acting as A2.4 you acknowledge that to the extent permitted by law we owe you no an agent; and duty of care and you have no claim against us for any loss. (b) you must indemnify the seller in respect of any loss the seller A3 Bidding and reserve prices incurs as a result of the buyer’s default. A3.1 All bids are to be made in pounds sterling exclusive of any A5.8 Where the buyer is a company you warrant that the buyer is applicable Vat. properly constituted and able to buy the lot. A3.2 w e may refuse to accept a bid. we do not have to explain why.
A3.3 If there is a dispute over bidding we are entitled to resolve it, and our A6 Extra auction conduct conditions decision is final. A6.1 Despite any special condition to the contrary the minimum deposit we accept is £2000 (or the total price, if less). A special condition may, however, require a higher minimum deposit.
NA_PCC_A5_INNER_MAY 14.indd 30 23/04/2014 11:35 GENERAL CONDITIONS OF SALE G3. Between contract and completion words in bold blue type have special meanings, which are defined G3.1 Unless the special conditions state otherwise, the seller is to insure in the glossary. the lot from and including the contract date to completion and: The general conditions (including any extra general conditions) apply to (a) produce to the buyer on request all relevant insurance details; the contract except to the extent that they are varied by special conditions (b) pay the premiums when due; or by an addendum. (c) if the buyer so requests, and pays any additional premium, use G1. The lot reasonable endeavours to increase the sum insured or make G1.1 The lot (including any rights to be granted or reserved, and any other changes to the policy; exclusions from it) is described in the special conditions, or if not (d) at the request of the buyer use reasonable endeavours to have so described the lot is that referred to in the sale memorandum. the buyer’s interest noted on the policy if it does not cover a G1.2 The lot is sold subject to any tenancies disclosed by the special contracting purchaser; conditions, but otherwise with vacant possession on completion. (e) unless otherwise agreed, cancel the insurance at completion, G1.3 The lot is sold subject to all matters contained or referred to in the apply for a refund of premium and (subject to the rights of any documents, but excluding any financial charges: these the seller tenant or other third party) pay that refund to the buyer; and must discharge on or before completion. (f) (subject to the rights of any tenant or other third party) hold G1.4 The lot is also sold subject to such of the following as may affect it, on trust for the buyer any insurance payments that the seller whether they arise before or after the contract date and whether or receives in respect of loss or damage arising after the contract not they are disclosed by the seller or are apparent from inspection date or assign to the buyer the benefit of any claim; and the of the lot or from the documents: buyer must on completion reimburse to the seller the cost of (a) matters registered or capable of registration as local land charges; that insurance (to the extent not already paid by the buyer or a (b) matters registered or capable of registration by any competent tenant or other third party) for the period from and including the authority or under the provisions of any statute; contract date to completion. (c) notices, orders, demands, proposals and requirements of any G3.2 No damage to or destruction of the lot nor any deterioration in its competent authority; condition, however caused, entitles the buyer to any reduction in (d) charges, notices, orders, restrictions, agreements and other matters price, or to delay completion, or to refuse to complete. relating to town and country planning, highways or public health; G3.3 Section 47 of the Law of Property Act 1925 does not apply. (e) rights, easements, quasi-easements, and wayleaves; G3.4 Unless the buyer is already lawfully in occupation of the lot the (f) outgoings and other liabilities; buyer has no right to enter into occupation prior to completion. (g) any interest which overrides, within the meaning of the Land G4. Title and identity Registration Act 2002; G4.1 Unless condition G4.2 applies, the buyer accepts the title of (h) matters that ought to be disclosed by the searches and the seller to the lot as at the contract date and may raise no enquiries a prudent buyer would make, whether or not the requisition or objection except in relation to any matter that occurs buyer has made them; and after the contract date. (i) anything the seller does not and could not reasonably know about. G4.2 If any of the documents is not made available before the auction the following provisions apply: G1.5 Where anything subject to which the lot is sold would expose the seller to liability the buyer is to comply with it and indemnify the (a) The buyer may raise no requisition on or objection to any of the seller against that liability. documents that is made available before the auction. G1.6 The seller must notify the buyer of any notices, orders, demands, (b) If the lot is registered land the seller is to give to the buyer within proposals and requirements of any competent authority of which it fivebusiness days of the contract date an official copy of the learns after the contract date but the buyer must comply with them entries on the register and title plan and, where noted on the and keep the seller indemnified. register, of all documents subject to which the lot is being sold. G1.7 The lot does not include any tenant’s or trade fixtures or fittings. (c) If the lot is not registered land the seller is to give to the buyer within fivebusiness days an abstract or epitome of title starting G1.8 Where chattels are included in the lot the buyer takes them as they from the root of title mentioned in the special conditions (or, if are at completion and the seller is not liable if they are not fit for use. none is mentioned, a good root of title more than fifteen years G1.9 The buyer buys with full knowledge of: old) and must produce to the buyer the original or an examined (a) the documents, whether or not the buyer has read them; and copy of every relevant document. (b) the physical condition of the lot and what could reasonably be (d) If title is in the course of registration, title is to consist of certified discovered on inspection of it, whether or not the buyer has copies of: inspected it. (i) the application for registration of title made to the land G1.10 The buyer is not to rely on the information contained in the registry; particulars but may rely on the seller’s conveyancer’s written (ii) the documents accompanying that application; replies to preliminary enquiries to the extent stated in those replies. (iii) evidence that all applicable stamp duty land tax relating to G2. Deposit that application has been paid; and G2.1 The amount of the deposit is the greater of: (iv) a letter under which the seller or its conveyancer agrees to (a) any minimum deposit stated in the auction conduct conditions use all reasonable endeavours to answer any requisitions (or the total price, if this is less than that minimum); and raised by the land registry and to instruct the land registry to (b) 10% of the price (exclusive of any Vat on the price). send the completed registration documents to the buyer. G2.2 The deposit (e) The buyer has no right to object to or make requisitions on (a) must be paid in pounds sterling by cheque or banker’s draft any title information more than seven business days after that drawn on an approved financial institution (or by any other information has been given to the buyer. means of payment that the auctioneers may accept); and G4.3 Unless otherwise stated in the special conditions the seller sells (b) is to be held as stakeholder unless the auction conduct with full title guarantee except that (and the transfer shall so provide): conditions provide that it is to be held as agent for the seller. (a) the covenant set out in section 3 of the Law of Property G2.3 Where the auctioneers hold the deposit as stakeholder they are (Miscellaneous Provisions) Act 1994 shall not extend to matters authorised to release it (and interest on it if applicable) to the seller recorded in registers open to public inspection; these are to be on completion or, if completion does not take place, to the person treated as within the actual knowledge of the buyer; and entitled to it under the sale conditions. (b) the covenant set out in section 4 of the Law of Property G2.4 If a cheque for all or part of the deposit is not cleared on first (Miscellaneous Provisions) Act 1994 shall not extend to any presentation the seller may treat the contract as at an end and condition or tenant’s obligation relating to the state or condition bring a claim against the buyer for breach of contract. of the lot where the lot is leasehold property. G2.5 Interest earned on the deposit belongs to the seller unless the sale conditions provide otherwise.
NA_PCC_A5_INNER_MAY 14.indd 31 23/04/2014 11:35 G4.4 The transfer is to have effect as if expressly subject to all matters G9. Landlord’s licence subject to which the lot is sold under the contract. G9.1 Where the lot is or includes leasehold land and licence to assign is G4.5 The seller does not have to produce, nor may the buyer object to required this condition G9 applies. or make a requisition in relation to, any prior or superior title even if it G9.2 The contract is conditional on that licence being obtained, by way is referred to in the documents. of formal licence if that is what the landlord lawfully requires. G4.6 The seller (and, if relevant, the buyer) must produce to each other such G9.3 The agreed completion date is not to be earlier than the date five confirmation of, or evidence of, their identity and that of their mortgagees business days after the seller has given notice to the buyer that and attorneys (if any) as is necessary for the other to be able to licence has been obtained. comply with applicable Land Registry Rules when making application G9.4 The seller must: for registration of the transaction to which the conditions apply. (a) use all reasonable endeavours to obtain the licence at the G5. transfer seller’s expense; and G5.1 Unless a form of transfer is prescribed by the special conditions: (b) enter into any authorised guarantee agreement properly required. (a) the buyer must supply a draft transfer to the seller at least ten G9.5 The buyer must: business days before the agreed completion date and the (a) promptly provide references and other relevant information; and engrossment (signed as a deed by the buyer if condition G5.2 (b) comply with the landlord’s lawful requirements. applies) fivebusiness days before that date or (if later) two G9.6 If within three months of the contract date (or such longer period as business days after the draft has been approved by the seller; and the seller and buyer agree) the licence has not been obtained the (b) the seller must approve or revise the draft transfer within five seller or the buyer may (if not then in breach of any obligation under business days of receiving it from the buyer. this condition G9) by notice to the other terminate the contract at any G5.2 If the seller remains liable in any respect in relation to the lot (or a time before licence is obtained. That termination is without prejudice to tenancy) following completion the buyer is specifically to covenant the claims of either seller or buyer for breach of this condition G9. in the transfer to indemnify the seller against that liability. G10. Interest and apportionments G5.3 The seller cannot be required to transfer the lot to anyone other G10.1 If the actual completion date is after the agreed completion date than the buyer, or by more than one transfer. for any reason other than the seller’s default the buyer must pay G6. completion interest at the interest rate on the price (less any deposit paid) G6.1 c ompletion is to take place at the offices of theseller’s conveyancer, from the agreed completion date up to and including the actual or where the seller may reasonably require, on the agreed completion date. completion date. The seller can only be required to complete on a G10.2 Subject to condition G11 the seller is not obliged to apportion or business day and between the hours of 0930 and 1700. account for any sum at completion unless the seller has received G6.2 The amount payable on completion is the balance of the price that sum in cleared funds. The seller must pay to the buyer after adjusted to take account of apportionments plus (if applicable) Vat completion any sum to which the buyer is entitled that the seller and interest. subsequently receives in cleared funds. G6.3 Payment is to be made in pounds sterling and only by: (a) direct G10.3 Income and outgoings are to be apportioned at actual completion transfer to the seller’s conveyancer’s client account; and date unless: (b) the release of any deposit held by a stakeholder. (a) the buyer is liable to pay interest; and G6.4 Unless the seller and the buyer otherwise agree, completion (b) the seller has given notice to the buyer at any time up to cannot take place until both have complied with their obligations completion requiring apportionment on the date from which under the contract and the balance of the price is unconditionally interest becomes payable by the buyer; in which event income received in the seller’s conveyancer’s client account. and outgoings are to be apportioned on the date from which G6.5 If completion takes place after 1400 hours for a reason other interest becomes payable by the buyer. than the seller’s default it is to be treated, for the purposes of G10.4 Apportionments are to be calculated on the basis that: apportionment and calculating interest, as if it had taken place on (a) the seller receives income and is liable for outgoings for the the next business day. whole of the day on which apportionment is to be made; G6.6 Where applicable the contract remains in force following completion. (b) annual income and expenditure accrues at an equal daily rate G7. Notice to complete assuming 365 days in a year, and income and expenditure G7.1 The seller or the buyer may on or after the agreed completion relating to some other period accrues at an equal daily rate date but before completion give the other notice to complete within during the period to which it relates; and ten business days (excluding the date on which the notice is given) (c) where the amount to be apportioned is not known at completion making time of the essence. apportionment is to be made by reference to a reasonable estimate G7.2 The person giving the notice must be ready to complete. and further payment is to be made by seller or buyer as appropriate G7.3 If the buyer fails to comply with a notice to complete the seller may, within fivebusiness days of the date when the amount is known. without affecting any other remedy the seller has: G11. arrears (a) terminate the contract; Part 1 Current rent (b) claim the deposit and any interest on it if held by a stakeholder; G11.1 “Current rent” means, in respect of each of the tenancies subject (c) forfeit the deposit and any interest on it; to which the lot is sold, the instalment of rent and other sums (d) resell the lot; and payable by the tenant in advance on the most recent rent payment (e) claim damages from the buyer. date on or within four months preceding completion. G7.4 If the seller fails to comply with a notice to complete the buyer may, G11.2 If on completion there are any arrears of current rent the buyer without affecting any other remedy the buyer has: must pay them, whether or not details of those arrears are given in (a) terminate the contract; and the special conditions. (b) recover the deposit and any interest on it from the seller or, if G11.3 Parts 2 and 3 of this condition G11 do not apply to arrears of applicable, a stakeholder. current rent. G8. If the contract is brought to an end Part 2 buyer to pay for arrears If the contract is lawfully brought to an end: G11.4 Part 2 of this condition G11 applies where the special conditions give details of arrears. (a) the buyer must return all papers to the seller and appoints the seller its agent to cancel any registration of the contract; and G11.5 The buyer is on completion to pay, in addition to any other money then due, an amount equal to all arrears of which details are set out (b) the seller must return the deposit and any interest on it to the in the special conditions. buyer (and the buyer may claim it from the stakeholder, if applicable) unless the seller is entitled to forfeit the deposit G11.6 If those arrears are not old arrears the seller is to assign to the under condition G7.3. buyer all rights that the seller has to recover those arrears.
NA_PCC_A5_INNER_MAY 14.indd 32 23/04/2014 11:35 Part 3 buyer not to pay for arrears G14.2 Where the special conditions state that no Vat option has been G11.7 Part 3 of this condition G11 applies where the special conditions: made the seller confirms that none has been made by it or by any (a) so state; or company in the same Vat group nor will be prior to completion. (b) give no details of any arrears. G15. Transfer as a going concern G11.8 While any arrears due to the seller remain unpaid the buyer must: Where the special conditions so state: (a) try to collect them in the ordinary course of management but (a) the seller and the buyer intend, and will take all practicable need not take legal proceedings or forfeit the tenancy; steps (short of an appeal) to procure, that the sale is treated as a (b) pay them to the seller within fivebusiness days of receipt in transfer of a going concern; and cleared funds (plus interest at the interest rate calculated on a (b) this condition G15 applies. The seller confirms that theseller daily basis for each subsequent day’s delay in payment); (a) is registered for Vat, either in the seller’s name or as a member (c) on request, at the cost of the seller, assign to the seller or of the same Vat group; and as the seller may direct the right to demand and sue for old (b) has (unless the sale is a standard-rated supply) made in relation arrears, such assignment to be in such form as the seller’s to the lot a Vat option that remains valid and will not be conveyancer may reasonably require; revoked before completion. (d) if reasonably required, allow the seller’s conveyancer to have on G15.3 The buyer confirms that: loan the counterpart of any tenancy against an undertaking to (a) it is registered for Vat, either in the buyer’s name or as a hold it to the buyer’s order; member of a Vat group; (e) not without the consent of the seller release any tenant or surety (b) it has made, or will make before completion, a Vat option from liability to pay arrears or accept a surrender of or forfeit any in relation to the lot and will not revoke it before or within three tenancy under which arrears are due; and months after completion; (f) if the buyer disposes of the lot prior to recovery of all arrears (c) article 5(2B) of the Value Added Tax (Special Provisions) Order obtain from the buyer’s successor in title a covenant in favour of 1995 does not apply to it; and the seller in similar form to part 3 of this condition G11. (d) it is not buying the lot as a nominee for another person. G11.9 Where the seller has the right to recover arrears it must not without G15.4 The buyer is to give to the seller as early as possible before the the buyer’s written consent bring insolvency proceedings against a agreed completion date evidence: tenant or seek the removal of goods from the lot. (a) of the buyer’s Vat registration; G12. Management (b) that the buyer has made a Vat option; and G12.1 This condition G12 applies where the lot is sold subject to (c) that the Vat option has been notified in writing to HM Revenue tenancies. and Customs; G12.2 The seller is to manage the lot in accordance with its standard and if it does not produce the relevant evidence at least two management policies pending completion. business days before the agreed completion date, condition G12.3 The seller must consult the buyer on all management issues that G14.1 applies at completion. would affect the buyer after completion (such as, but not limited G15.5 The buyer confirms that aftercompletion the buyer intends to: to, an application for licence; a rent review; a variation, surrender, (a) retain and manage the lot for the buyer’s own benefit as a agreement to surrender or proposed forfeiture of a tenancy; or a new continuing business as a going concern subject to and with the tenancy or agreement to grant a new tenancy) and: benefit of thetenancies ; and (a) the seller must comply with the buyer’s reasonable (b) collect the rents payable under the tenancies and charge Vat requirements unless to do so would (but for the indemnity in on them paragraph (c)) expose the seller to a liability that the seller would not otherwise have, in which case the seller may act G15.6 If , after completion, it is found that the sale of the lot is not a reasonably in such a way as to avoid that liability; transfer of a going concern then: (b) if the seller gives the buyer notice of the seller’s intended (a) the seller’s conveyancer is to notify the buyer’s conveyancer act and the buyer does not object within fivebusiness days of that finding and provide aV at invoice in respect of the sale giving reasons for the objection the seller may act as the seller of the lot; intends; and (b) the buyer must within fivebusiness days of receipt of the Vat (c) the buyer is to indemnify the seller against all loss or liability the invoice pay to the seller the Vat due; and seller incurs through acting as the buyer requires, or by reason of (c) if Vat is payable because the buyer has not complied with this delay caused by the buyer. condition G15, the buyer must pay and indemnify the seller G13. Rent deposits against all costs, interest, penalties or surcharges that the seller incurs as a result. G13.1 This condition G13 applies where the seller is holding or otherwise G16. Capital allowances entitled to money by way of rent deposit in respect of a tenancy. In G16.1 This condition G16 applies where the special conditions state that this condition G13 “rent deposit deed” means the deed or other there are capital allowances available in respect of the lot. document under which the rent deposit is held. G16.2 The seller is promptly to supply to the buyer all information G13.2 If the rent deposit is not assignable the seller must on completion reasonably required by the buyer in connection with the buyer’s hold the rent deposit on trust for the buyer and, subject to the terms claim for capital allowances. of the rent deposit deed, comply at the cost of the buyer with the buyer’s lawful instructions. G16.3 The value to be attributed to those items on which capital allowances may be claimed is set out in the special conditions. G13.3 Otherwise the seller must on completion pay and assign its interest in the rent deposit to the buyer under an assignment in G16.4 The seller and buyer agree: which the buyer covenants with the seller to: (a) to make an election on completion under Section 198 of the Capital (a) observe and perform the seller’s covenants and conditions in Allowances Act 2001 to give effect to this condition G16; and the rent deposit deed and indemnify the seller in respect of any (b) to submit the value specified in thespecial conditions to HM breach; Revenue and Customs for the purposes of their respective (b) give notice of assignment to the tenant; and capital allowance computations. (c) give such direct covenant to the tenant as may be required by G17. Maintenance agreements the rent deposit deed. G17.1 The seller agrees to use reasonable endeavours to transfer to the buyer, at the buyer’s cost, the benefit of the maintenance G14. Vat agreements specified in thespecial conditions. G14.1 Where a sale condition requires money to be paid or other G17.2 The buyer must assume, and indemnify the seller in respect of, all consideration to be given, the payer must also pay any Vat that is liability under such contracts from the actual completion date. chargeable on that money or (a) of the buyer’s Vat registration; consideration, but only if given a valid Vat invoice.
NA_PCC_A5_INNER_MAY 14.indd 33 23/04/2014 11:35 G18. Landlord and Tenant Act 1987 (d) any service charge expenditure that is not attributable to any G18.1 This condition G18 applies where the sale is a relevant disposal for tenancy and is for that reason irrecoverable. the purposes of part I of the Landlord and Tenant Act 1987. G22.4 In respect of each tenancy, if the service charge account shows that: G18.2 The seller warrants that the seller has complied with sections 5B (a) payments on account (whether received or still then due from a and 7 of that Act and that the requisite majority of qualifying tenants tenant) exceed attributable service charge expenditure, the seller has not accepted the offer. must pay to the buyer an amount equal to the excess when it G19. Sale by practitioner provides the service charge account; G19. This condition G19 applies where the sale is by a practitioner either (b) attributable service charge expenditure exceeds payments on as seller or as agent of the seller. account (whether those payments have been received or are G19.2 The practitioner has been duly appointed and is empowered to still then due), the buyer must use all reasonable endeavours to sell the lot. recover the shortfall from the tenant at the next service charge G19.3 Neither the practitioner nor the firm or any member of the firm to which reconciliation date and pay the amount so recovered to the the practitioner belongs has any personal liability in connection with seller within fivebusiness days of receipt in cleared funds; the sale or the performance of the seller’s obligations. The transfer is but in respect of payments on account that are still due from a to include a declaration excluding that personal liability. tenant condition G11 (arrears) applies. G19.4 The lot is sold: G22.5 In respect of service charge expenditure that is not attributable to (a) in its condition at completion; any tenancy the seller must pay the expenditure incurred in respect (b) for such title as the seller may have; and of the period before actual completion date and the buyer must (c) with no title guarantee; pay the expenditure incurred in respect of the period after actual completion date. Any necessary monetary adjustment is to be and the buyer has no right to terminate the contract or any made within five business days of theseller providing the service other remedy if information provided about the lot is inaccurate, charge account to the buyer. incomplete or missing. G22.6 If the seller holds any reserve or sinking fund on account of future G19.5 Where relevant: service charge expenditure or a depreciation fund: (a) the documents must include certified copies of those under which (a) the seller must pay it (including any interest earned on it) to the the practitioner is appointed, the document of appointment and buyer on completion; and the practitioner’s acceptance of appointment; and (b) the buyer must covenant with the seller to hold it in accordance (b) the seller may require the transfer to be by the lender exercising with the terms of the tenancies and to indemnify the seller if it its power of sale under the Law of Property Act 1925. does not do so. G19.6 The buyer understands this condition G19 and agrees that it is fair G23. Rent reviews in the circumstances of a sale by a practitioner. G23.1 This condition G23 applies where the lot is sold subject to a G20. TUPE tenancy under which a rent review due on or before the actual G20.1 If the special conditions state “There are no employees to which completion date has not been agreed or determined. TUPe applies”, this is a warranty by the seller to this effect. G23.2 The seller may continue negotiations or rent review proceedings G20.2 If the special conditions do not state “There are no employees to up to the actual completion date but may not agree the level of which TUPe applies” the following paragraphs apply: the revised rent or commence rent review proceedings without the (a) The seller must notify the buyer of those employees whose written consent of the buyer, such consent not to be unreasonably contracts of employment will transfer to the buyer on completion withheld or delayed. (the “Transferring Employees”). This notification must be given to G23.3 Following completion the buyer must complete rent review the buyer not less than 14 days before completion. negotiations or proceedings as soon as reasonably practicable but (b) The buyer confirms that it will comply with its obligations under may not agree the level of the revised rent without the written consent of TUPe and any special conditions in respect of the Transferring the seller, such consent not to be unreasonably withheld or delayed. Employees. G23.4 The seller must promptly: (c) The buyer and the seller acknowledge that pursuant and subject (a) give to the buyer full details of all rent review negotiations and to TUPe, the contracts of employment between the Transferring proceedings, including copies of all correspondence and other Employees and the seller will transfer to the buyer on completion papers; and (d) The buyer is to keep the seller indemnified against all liability for (b) use all reasonable endeavours to substitute the buyer for the the Transferring Employees after completion. seller in any rent review proceedings. G21. Environmental G23.5 The seller and the buyer are to keep each other informed of the G21.1 This condition G21 only applies where the special conditions so progress of the rent review and have regard to any proposals the provide. other makes in relation to it. G21.2 The seller has made available such reports as the seller has as to G23.6 When the rent review has been agreed or determined the buyer the environmental condition of the lot and has given the buyer the must account to the seller for any increased rent and interest opportunity to carry out investigations (whether or not the buyer has recovered from the tenant that relates to the seller’s period of read those reports or carried out any investigation) and the buyer ownership within fivebusiness days of receipt of cleared funds. admits that the price takes into account the environmental condition G23.7 If a rent review is agreed or determined before completion but the of the lot. increased rent and any interest recoverable from the tenant has not G21.3 The buyer agrees to indemnify the seller in respect of all liability for been received by completion the increased rent and any interest or resulting from the environmental condition of the lot. recoverable is to be treated as arrears. G22. Service Charge G23.8 The seller and the buyer are to bear their own costs in relation to G22.1 This condition G22 applies where the lot is sold subject to tenancies rent review negotiations and proceedings. that include service charge provisions. G24. Tenancy renewals G22.2 No apportionment is to be made at completion in respect of service G24.1 This condition G24 applies where the tenant under a tenancy charges. has the right to remain in occupation under part II of the Landlord G22.3 Within two months after completion the seller must provide to the and Tenant Act 1954 (as amended) and references to notices and buyer a detailed service charge account for the service charge year proceedings are to notices and proceedings under that Act. current on completion showing: G24.2 Where practicable, without exposing the seller to liability or penalty, (a) service charge expenditure attributable to each tenancy; the seller must not without the written consent of the buyer (which (b) payments on account of service charge received from each tenant; the buyer must not unreasonably withhold or delay) serve or (c) any amounts due from a tenant that have not been received; respond to any notice or begin or continue any proceedings. G24.3 If the seller receives a notice the seller must send a copy to the buyer within fivebusiness days and act as the buyer reasonably directs in relation to it.
NA_PCC_A5_INNER_MAY 14.indd 34 23/04/2014 11:35 G24.4 Following completion the buyer must: (b) procure that all rights granted and reserved by the lease under (a) with the co-operation of the seller take immediate steps to which the lot is held are properly noted against the affected substitute itself as a party to any proceedings; titles; and (b) use all reasonable endeavours to conclude any proceedings (c) provide the seller with an official copy of the register relating to or negotiations for the renewal of the tenancy and the such lease showing itself registered as proprietor. determination of any interim rent as soon as reasonably G27.2 This condition G27.2 applies where the lot comprises part of a practicable at the best rent or rents reasonably obtainable; and registered title. The buyer must at its own expense and as soon as (c) if any increased rent is recovered from the tenant (whether as interim practicable: rent or under the renewed tenancy) account to the seller for the (a) apply for registration of the transfer; part of that increase that relates to the seller’s period of ownership (b) provide the seller with an official copy and title plan of the lot within fivebusiness days of receipt of cleared funds. for the buyer’s new title; and G24.5 The seller and the buyer are to bear their own costs in relation to (c) join in any representations the seller may properly make to Land the renewal of the tenancy and any proceedings relating to this. Registry relating to the application. G25. Warranties G28. Notices and other communications G25.1 Available warranties are listed in the special conditions. G28.1 All communications, including notices, must be in writing. G25.2 Where a warranty is assignable the seller must: Communication to or by the seller or the buyer may be given to or (a) on completion assign it to the buyer and give notice of by their conveyancers. assignment to the person who gave the warranty; and G28.2 A communication may be relied on if: (b) apply for (and the seller and the buyer must use all reasonable (a) delivered by hand; or endeavours to obtain) any consent to assign that is required. (b) made electronically and personally acknowledged (automatic If consent has not been obtained by completion the warranty acknowledgement does not count); or must be assigned within fivebusiness days after the consent (c) there is proof that it was sent to the address of the person to has been obtained. whom it is to be given (as specified in thesale memorandum) G25.3 If a warranty is not assignable the seller must after completion: by a postal service that offers normally to deliver mail the next (a) hold the warranty on trust for the buyer; and following business day. (b) at the buyer’s cost comply with such of the lawful instructions of G28.3 A communication is to be treated as received: the buyer in relation to the warranty as do not place the seller in (a) when delivered, if delivered by hand; or breach of its terms or expose the seller to any liability or penalty. (b) when personally acknowledged, if made electronically; G26. No assignment but if delivered or made after 1700 hours on a business day a The buyer must not assign, mortgage or otherwise transfer or communication is to be treated as received on the next business day. part with the whole or any part of the buyer’s interest under this G28.4 A communication sent by a postal service that offers normally to contract. deliver mail the next following business day will be treated as G27. Registration at the Land Registry received on the second business day after it has been posted. G27.1 This condition G27.1 applies where the lot is leasehold and its sale G29. Contracts (Rights of Third Parties) Act 1999 either triggers first registration or is a registrable disposition. The No one is intended to have any benefit under thecontract pursuant buyer must at its own expense and as soon as practicable: to the Contract (Rights of Third Parties) Act 1999. (a) procure that it becomes registered at Land Registry as proprietor G30. Extra General Conditions of the lot;
NA_PCC_A5_INNER_MAY 14.indd 35 23/04/2014 11:35 NA_PCC_A5_INNER_MAY 14.indd 36 23/04/2014 11:35 sAle MeMoRAnduM
Date:......
Name of Seller: ......
Address of Seller: ......
......
Name of Buyer: ......
Address of Buyer: ......
......
‘The Lot’: ......
‘The Price’: ......
‘The Completion Date’: ......
Deposit Paid to Auctioneers: ......
Balance due at Completion: ......
the seller agrees to sell and the buyer agrees to buy ‘the lot’ for ‘the price’ and to complete the purchase on ‘the Completion date’.
This agreement is subject to the Auctioneers’ Conditions of Sale, Common Auction Conditions (Edition 3) and General Conditions of Sale (as published in the auction catalogue) and the Special Conditions of Sale (as provided in the Legal Pack and as settled by the seller’s solicitors).
Signed on behalf of the Seller: ...... By Pennycuick Collins for and on behalf of the seller
Signed by the Buyer: ......
Buyer’s Solicitors:......
...... Name, address, telephone number and name of solicitor/contact
NA_PCC_A5_COVER_MAY 14.indd 4 23/04/2014 12:16 PROPERTY AUCTION CATALOGUE wednesday 14 May 2014 at 11:00 am the legends lounge birMinghaM city football club st andrew’s stadiuM, birMinghaM b9 4nh
FUTURE AUCTIONS birMinghaM wednesday 14 May 2014 wednesday 16 July 2014 wednesday 15 october 2014 tuesday 16 deceMber 2014
london wednesday 25 June 2014 wednesday 10 septeMber 2014 tuesday 21 october 2014 thursday 11 deceMber 2014
E [email protected] T 0121 665 4150 www.pennycuick.co.uk
9 the square, 111 broad street, birmingham b15 1as
NA_PCC_A5_COVER_MAY 14.indd 1 23/04/2014 12:16