Residential & Commercial Property Auction
Wednesday 1st July 2015 Radisson Blu Portman Hotel London 22 Portman Square, London W1H 7BG Starting 12 noon
CONTENTS
Contents and Auctioneer’s Note ...... 1
Guide to Auction ...... 2
Auction Team ...... 3
Lot Order and Guide Prices ...... 4
Auction Information ...... 5
Auction Conditions ...... 22
Index of Seller’s Solicitors ...... 28
EPCs ...... 29
Registration Form for Proxy, Telephone or Internet Bidding ...... 30
Memorandum of Sale ...... 31
Auction Bidder’s Registration Form ...... 32
AUCTIONEER’S NOTE
Dear Reader Welcome to our July auction catalogue. Well, how wrong can one be? In our catalogue for 30th April, I discussed the prospect of an inconclusive election result and a “hung” parliament, as most commentators and pre-election polls were indicating that neither of the major parties would end up with a clear majority. Instead, the 7th May election saw the conservatives returned with a clear majority and their former partners, the Liberal Democrats, virtually decimated. At any rate, we are spared Labour’s “Mansion Tax” and the proposed rent freeze on central London private rented sector, both of which seemed to stem from the politics of envy. But what should be expect next? Both Labour and the Conservatives prioritised housebuilding in their election manifestos, albeit espousing very different means of achieving a similar aim. The Tories are on course to promote house-building through planning reforms and, mindful that home ownership in the under-35 age group has fallen almost 50% in the last ten years, will extend the life of the “Help To Buy” scheme. So both supply and demand may be expected to increase. However, one interesting fact that arose from a recent residential development seminar I attended was that the main reason that housebuilding is not keeping apace with the government’s targets is a shortage of skilled manpower: a fact that may surprise you as much as it did me. Our current catalogue contains a number of commercial investment opportunities as well as the usual mix of residential investments and development opportunities. We’re particularly delighted to welcome Luton Borough Council to our growing client base. Do make sure you inform us before the auction of your interest in a property, in case we receive a pre-auction offer that tempts the vendor to sell prior. Likewise, do make sure you read the legal pack and this entire catalogue – including all the “small print” – because that will give you the best guarantee of making a successful purchase. Our fi rst auction after summer will be on 5th October. Do contact us if you’d like to sell something and would like our opinion as to saleability. Finally, do remember we’re here to help, even with “beginner” questions: and good luck! Felix Rigg B.Mus. Auctioneer
1 YOUR GUIDE TO BUYING AT AUCTION
Regular auction buyers know it is a simple process. But before For those of you who cannot attend it’s possible to follow the coming to our sale we recommend prospective buyers: auction online via our website. This service will be available from the start of the auction. • Browse upcoming sales or search for a specifi c property online. Keep in touch with us We are here to help. If you register your interest with us via our • View the property details in the online catalogue website or by contacting us directly this will help us keep in • Tell us about your interest. We may be able to help and tell you touch with you if there are changes. We want you though to be about any updates comfortable once you join us, so here is an outline of the process. Read • Auctioneer’s announcements: The auctioneers will open The Common Auction Conditions of Sale (CAC) have been proceedings with preliminary remarks and announcements. published by the Royal Institution of Chartered Surveyors and are They may affect the property you aim to buy so please arrive reproduced on our website and towards the end of this catalogue. promptly even though the lot you are interested in may be As surveyors and auctioneers we have adopted the CAC and the towards the end of the auction. sale of properties in England and Wales are subject to them. They • Auction day amendments: Sellers/solicitors may amend details set out the duties and obligations of the buyers and sellers and of up to the time of auction. Do check whether your property the auctioneer. This is an important document. As far as possible has sold prior/been withdrawn/subject to change. Don’t forget it has been written in plain English but it does form part of your to get a copy of the Addendum, which is available in the contract of purchase and some terms will inevitably use legal auction room. Ensure that you have seen and understand any phraseology. addenda relating to the property for which you are bidding. You should consult with your legal adviser before bidding and Guide prices may also change during the marketing period. An also your accountant regarding the impact of VAT, if applicable, up to date guide price list is also available in the auction room. on the sale price. The CAC are divided into three parts. If you are • Auction day assistance: Any of the MS Auction team are there intending to bid for yourself or another please read the Conduct to help you. If you have any special needs regarding access or of the Auction section carefully before arrival. If you need help in seating or disabilities where you require our assistance please understanding them please contact us, preferably by e-mail or let us know. We will do our utmost to be of service. consult your legal adviser. Auction Procedure Each property will have its own legal documents including the 1. Please bid in time and clearly. You are important to us and we Special Conditions of Sale which are supplied by the seller’s don’t want to miss your bid. solicitor. If you receive copies they should be checked against the originals before the auction to make sure they have been scanned 2. If you are the highest accepted bidder when the gavel falls correctly. Seller’s solicitors usually hold title deeds, leases and you are under a binding contract to purchase the property. other documents relevant to the sale. They are usually available An MS Auction team member will give you a purchaser’s card to download free from our website. Please let us know if getting a confi rming this. legal pack is problematic. 3. Write your name and address as the bidder; details of the Check buyer, (if this is different) and the name and address of the The information on each property in this catalogue has been solicitor who is acting for the buyer. This information is used to provided and checked by the seller and their solicitor. We can only complete the memorandum of sale, a copy of which is printed give a short overview of what is being sold and the photographs in the back of the catalogue. and plans are for identifi cation only. As a potential purchaser you 4. You will then need to provide a deposit cheque for 10% of the will know there is no substitute for your own research. Where we purchase price, drawn on a UK clearing bank and payable to are aware of any changes before the auction these will be listed on the seller’s solicitor unless the Special Conditions of Sale say the website under the Addendum. otherwise. Ensure you have adequate funds in your account. Inspect We cannot accept cash. The property: You must inspect the building inside and outside. 5. At the same time you will be asked for two original forms You may need professional advice to survey the condition of the of identifi cation to meet the Money Laundering Regulations building and the boundaries. Where properties are occupied, 2007 (Further information can be obtained by viewing the core viewings must be arranged through us. guidance notes on the OFT website). Double Check 6. Next you will attend the contract table to sign the Sometimes properties are sold or withdrawn prior to auction. At memorandum of sale and any other relevant contact other times information with which we have been supplied requires documents. We will give you copies of the signed documents, updating as the marketing period progresses. This may include the which you should pass on to your solicitor. information in the catalogue as well as the legal documentation. We may also wish to change the guide price in response to 7. A charge of £500 incl. VAT must be paid by the buyer (or interest generated by our marketing. We publish these changes sucessful bidder) of each lot purchased, at the same time on our website as well as in the Addendum, which is available on as, and in addition to the deposit. If this charge is not paid the auction day. The Addendum is part of the contract of sale. separately, it will be deducted from the amount of monies Sometimes we are informed of changes at the last moment and received before the balance is applied to the contractual therefore please make sure you arrive early at the auction to hear deposit. If the purchaser fails to complete no refund will be any pre-sale announcements by the auctioneer. given, whether prior, during or post auction. Can’t make the Auction 8. If VAT is charged on the purchase price, this will be stated Making an offer prior to auction: All offers to purchase prior to in the Special Conditions of Sale relevant to the lot you are auction should be made to the auctioneers. Please note some bidding for. sellers will not or cannot sell prior. 9. In most cases, if you are the successful buyer, you will need to We provide a proxy and telephone bidding service, details of immediately put in place insurance upon the property. which, together with the terms and conditions, can be found on the website or at the end of this catalogue.
*GUIDE PRICE An indication of the seller’s current minimum price fi gure within 10% of which the minimum acceptable price acceptable price at auction. The guide price or range of guide (reserve) would fall. A guide price is different to a reserve price (see prices is given to assist consumers in deciding whether or not separate defi nition). Both the guide price and the reserve price can to pursue a purchase. It is usual, but not always the case that a be subject to change up to and including the day of the auction. provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fi xed *RESERVE PRICE The seller’s minimum acceptable price at at this stage and can be adjusted by the seller at any time up to auction and the fi gure below which the auctioneer cannot sell. The the day of the auction in the light of interest shown during the reserve price is not disclosed and remains confi dential between marketing period, a guide price is issued. This guide price can be the seller and the auctioneer. Both the guide price and the reserve shown in the form of a minimum and maximum price range within can and may be subject to change up to and including the day of which an acceptable sale price (reserve) would fall, or as a single the auction. 2 OFFICE LOCATION
141 Viglen House Alperton Lane London HA0 1HD Phone: 020 8998 8464 020 8997 5878 Email: [email protected] Web: www.msauctions.co.uk
AUCTION VENUE
Radisson Blu Portman Hotel London 22 Portman Square London W1H 7BG Phone: 020 7208 6000
Nearest Tube Stations: Marble Arch & Bond Street Wednesday 1st July 2015 Starting 12 noon
THE AUCTION TEAM
Amjad Sabir Raja Shad Azad Managing Director Director [email protected] [email protected]
Felix Rigg Ahsan Sultan Auctioneer Surveyor [email protected] [email protected]
Deema Al-Azawi Rehan Khawaja Surveyor Surveyor [email protected] [email protected]
Dorie Lee Palma Administrator
3 LOT ORDER AND GUIDE PRICES
Lot 1 22 Pretoria Road, Ilford, London IG1 2HW £140,000 Lot 2 28 Houseman Gardens, Nottingham NG2 2HX £90,000 Lot 3 35a Garratts Lane, Cradley Heath B64 5RH £265,000 Lot 4 185a Town Road, Edmonton, London N9 0HL £200,000 Lot 5 Lower Ground, 29–31 Woodville Road, Croydon CR7 8LH £75,000 Lot 6 26 Pritchard Street, Burnley, Lancashire BB11 4JY £27,000 Lot 7 Unit 39, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £35,000 Lot 8 Unit 39a, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £22,000 Lot 9 Unit 40, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £28,000 Lot 10 Unit 41, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR Withdrawn Lot 11 Unit 42, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR Withdrawn Lot 12 Unit 47a, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £30,000 Lot 13 Unit 47b, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £35,000 Lot 14 Unit 47c, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £10,000 Lot 15 Unit 48, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £80,000 Lot 16 Unit 51, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £80,000 Lot 17 Unit 66, Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR £60,000 Lot 18 58b Boundary Road, Upton Park, London E13 9QG £160,000 Lot 19 8 Conway Avenue, Nottingham NG4 2PY £210,000 Lot 20 61 High Street, Dumbarton G82 1LS £240,000 Lot 21 28–32 The Elms, Dingle, Liverpool L8 3SS £70,000 Lot 22 Building To The Rear Of 73 Broughton Road, Thornton Heath CR7 6AG £20,000 Lot 23 Unit 1, 78–80 Dalton Road, Barrow-in-Furness LA14 1JH £240,000 Lot 24 Units 7 & 8, 54 & 55 Prince Regent Street, Stockton-on-Tees TS18 1DF £50,000 Lot 25 85a Burke Street, Scunthorpe DN15 6DF £35,000 Lot 26 Land Adjoining 89 Sedgwick Street, Jacksdale NG16 5JY £90,000 Lot 27 89 Sedgwick Street, Jacksdale NG16 5JY £200,000 Lot 28 148 Victoria Road, Scarborough YO11 1SL £35,000 Lot 29 19 Lynett Road, Dagenham RM8 1RJ £190,000 Lot 30 24a Old Southend Road, Southend-on-Sea SS1 2HA £TBC Lot 31 6 Richmond Terrace, Liverpool L6 5EA £125,000 Lot 32 71a – 75a Borough Road, Wallasey CH44 6NB £170,000 Lot 33 57 Grosvenor Road, Luton LU3 2EG £150,000
4 AUCTION INFORMATION
Auction Enquiries For all enquiries about any of the properties within the catalogue, bidding at auction or to submit a property into our next auction on 5th October 2015, please telephone 020 8998 8464.
*Guide Prices To obtain up to date Lot guide prices, simply visit www.msauctions.co.uk. Or obtain the list from www.eigroup.co.uk * See page 2 for de nition of prices.
Legal Packs Anyone wishing to bid at the auction must read the legal documentation rst. This is available to download from www.msauctions.co.uk. Alternatively please telephone the auction team on 020 8998 8464 if you want to view a copy of the legal pack.
Remote bidding If you are unable to attend the auction, you can bid in a number of ways. These include proxy bidding (by paper bid to the auctioneer), telephone bidding (with a member of the auction team) or internet bidding through our live system on www.eigroup.co.uk
In order to do this, please ll out and sign the remote bidding form printed in the catalogue as well as the special conditions and sale of memorandum. We will also require a signed cheque for 10% of your intended maximum bid as a deposit. Your remote bidding request will only be deemed registered once you have been informed by a member of the auction team that this is so.
For further enquiries please call the of ce or email [email protected]
For information directly from the auctioneers please contact: Amjad Raja Of ce: 020 8997 5878 Mobile: 07973 828053 Email: [email protected]
Felix Rigg Of ce: 020 8997 5878 Mobile: 07710 500 786 Email: [email protected]
To follow the auction live on the internet Please visit www.msauctions.co.uk and you will be able to see details of the lots currently being offered and watch the bidding as it happens.
Auction Results To obtain the result of the auctions, visit www.msauctions.co.uk
5 *Guide Price £140,000 Lot 1 LONG LEASEHOLD RESIDENTIAL INVESTMENT 22 Pretoria Road, Ilford, London IG1 2HW Description A two bedroom ground oor at with a rear garden. Accommodation Reception, two bedrooms, kitchen, bathroom/WC. Location The Essex town of Ilford lies just east of the A406 North Circular Road and has a population of about 45,000 (2011 census). Ilford is about 9.5 miles east of London’s West End. Pretoria Road forms part of a grid of residential streets lying to the west of Ilford Lane (A123), half a mile south of the town centre. The property lies on the west side of the street, close to its junction with Mayville Road and roughly equidistantly between Ilford and Barking Stations. Tenure Long leasehold for a term of 99 years from 29th October 1963 at a ground rent of £150 per annum rising. We are informed that a lease extension may be available for £25,000. Tenancy Let on an Assured Shorthold Investment at £850 per calendar month (£10,200 per annum) Local Authority London Borough of Redbridge tel: 020 8708 3138. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £90,000 Lot 2 FREEHOLD VACANT FOUR-BED HOUSE 28 Houseman Gardens, Nottingham NG2 2HX Description A four bedroom mid terraced three storey house. Accommodation Four bedrooms, reception, kitchen, bathroom/WC plus garden. Location The east Midlands city of Nottingham lies about 32 miles south of Shef eld and 45 miles north east of Birmingham. Nottingham has a population of about 311,000 (2013 ONS estimate) and is important as an educational centre, with about 61,000 students attending its two universities. The city lies to the east of the M1 motorway, from which it can be accessed at junctions 25 and 26. Houseman Gardens lies to the south west of the city centre and runs north off Robin Hood Way. The property lies on the east side of Houseman Gardens within an established modern housing estate. Tenure Freehold with vacant possession. Local Authority Nottingham City Council tel: 0115 876 4447. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
6 *See page 2 for information on Guide and Reserve Prices. *Guide Price £265,000 Lot 3 FREEHOLD WORKSHOP/INDUSTRIAL INVESTMENT 35a Garratts Lane, Cradley Heath B64 5RH Description An industrial building of modern construction that has been sub divided internally to create a number of “starter” type industrial/ warehouse units. Location The West Midlands town of Cradley Heath lies in the heart of the “Black Country”, about 7.2 miles west of Birmingham and 2.5 miles south of Dudley. Cradley Heath has a population of about 13,000 (2013 local authority estimate) and can be accessed from the M5 motorway (junction 2) via the A4034 and A4100. Garratts Lane forms part of the A4100. The property lies on the north side of the road in an established industrial area. Tenure Freehold. VAT We are informed that VAT is not applicable. Local Authority Sandwell Metropolitan Borough Council tel: 0121 569 4054. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
Demise Dimensions m2 sq ft Tenant Tenancy Rent £pa Reviews Comments Ground oor Workshops 869 9,359 Various 6 month lease 33,120 N/A All leases are subject to “rolling” agreements break clauses and are on effective IRI terms
*Guide Price £200,000 Lot 4 LONG LEASEHOLD RESIDENTIAL INVESTMENT 185a Town Road, Edmonton, London N9 0HL Description A ground oor at within a mid terraced converted house of traditional construction. Accommodation Three bedrooms, reception (open plan kitchen), bathroom/WC. Location Edmonton forms part of the London Borough of En eld and is a heavily populated suburb lying some 7 miles north of central London. The property is located in the Lower Edmonton residential area. Tenure Long leasehold. Further information will be available within the legal pack. Tenancy Let on an Assured Shorthold Tenancy at £1,500 per calendar month (£18,000 per annum). Local Authority London Borough of En eld tel: 020 8379 1000. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*See page 2 for information on Guide and Reserve Prices. 7 * LONG LEASEHOLD RESIDENTIAL Guide Price £75,000 Lot 5 DEVELOPMENT PROJECT Lower Ground, 29-31 Woodville Road, Croydon CR7 8LH Description A lower ground oor area within a four storey building of traditional construction. There are communal gardens and parking to the rear of the building. Location Croydon lies about 10 miles south of London and has a population of just under 365,000 (2011 census). Apart from being a major commuter town for London, it is the largest commercial centre in south east England (apart from the capital) and is an important transport interchange. The property lies on the west side of Woodville Road, close to its junction with Norwich Road. Thornton Heath (Southern/Thameslink) station is within easy walking distance. Tenure Long leasehold for a term of 125 years from April 2015 at a ground rent of £400 per annum. The property will be sold with vacant possession. Local Authority London Borough of Croydon tel: 020 8726 6800. Planning and development Planning permission was granted on 12th May 2015 to provide a two bedroom at (99 m2) and the construction of lightwells (application 15/01135/P). Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £27,000 Lot 6 LONG LEASEHOLD VACANT TWO BED HOUSE 26 Pritchard Street, Burnley, Lancashire BB11 4JY Description A vacant two bedroom two storey mid terraced house of traditional construction with rear yard. Accommodation Ground oor: reception, kitchen. First oor: two bedrooms, bathroom/WC. The property has been recently refurbished with new carpets throughout, plus new combi gas boiler providing central heating. It has also been re-wired. Location The Lancashire market town of Burnley lies about 22 miles north of Manchester and 21 miles east of Preston, in the heart of the Pennines. Burnley has a population just under 150,000 (2011 census) and is well known as a centre for aerospace industries. Pritchard Street lies about 0.5 miles south west of the town centre. The property lies on the east side of the road within an established residential area. Tenure Long leasehold for a term of 999 years from 1st November 1890. The property will be sold with vacant possession. Local Authority Burnley Borough Council tel: 01282 425011. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
8 *See page 2 for information on Guide and Reserve Prices. ADVANCE NOTICE
FOR SALE BY AUCTION ON THE 5TH OF OCTOBER 2015 (UNLESS SOLD PRIOR) RESIDENTIAL DEVELOPMENT OPPORTUNITY 42–48 South Ealing Road, London W5 4QA
LOCATION DESCRIPTION PLANNING AND DEVELOPMENT The increasingly affl uent West London Four adjoining three storey terraced At present, the residential suburb of Ealing lies about 7.5 miles west buildings (No.48 is end-terraced), accommodation is registered with of the capital’s West End and to the north providing four lock up shops with the local authority as a House in of the M4 motorway. South Ealing Road residential accommodation above, the Multiple Occupation (HMO). We are forms south of the B455, which runs latter arranged to provide twenty letting verbally informed that there would be south from Ealing Broadway (A4020). rooms (some with kitchenette facilities no objection in principle to the HMO The property lies on the west side of the and all with en suite bathrooms). There is status being removed, in favour of open road at its junction with Lothair Road, a car parking area off Lothair Road. residential use. about 0.66 miles south of Ealing’s town centre and in a mixed residential/retail LOCAL AUTHORITY PRICE area. South Ealing underground station London Borough of Ealing Tel. 020 8825 Our client is seeking offers in excess of (Piccadilly line) is several hundred yards 6600. £4 million. The property will be offered for to the south, whilst Central, District and sale at our auction on the 5th of October, Overground services are available at unless sold prior. Ealing Broadway station. FURTHER INFORMATION Amjad Raja or Felix Rigg – MS Auctions Tel. 020 8998 8464. Nicolas Hayes – NW Hayes Tel. 020 8998 5412. 9 Lots 7-17 FREEHOLD INDUSTRIAL INVESTEMENTS
Sapcote Trading Centre, Powke Lane Cradley Heath B64 5QR Description A total of eleven industrial/workshop/storage units, all being of modern construction. Location The West Midlands town of Cradley Heath lies in the heart of the “Black Country”, about 7.2 miles west of Birmingham and 2.5 miles south of Dudley. Cradley Heath has a population of about 13,000 (2013 local authority estimate) and can be accessed from the M5 motorway (junction 2) via the A4034 and A4100. The Sapcote Trading Centre lies on the eastern side of Powke Lane, to the north of the junction with Cox’s Lane. Tenure Freehold. Unit 66 will be sold with vacant possession upon completion. Local Authority Sandwell Metropolitan Borough Council tel: 0121 569 4054. VAT We are informed that VAT is not applicable. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
10 *See page 2 for information on Guide and Reserve Prices. Lots 7-17 FREEHOLD INDUSTRIAL INVESTEMENTS
Schedule of tenancies and accommodation
Lot Unit Dimensions m2 sq ft Tenant Tenancy Rent £pa Comments Guide price 7 39 Self-storage 100.65 1,083 Various Various 3,600 Further information £35,000 available from the legal pack. 8 39a 20.94 225 Anthony Cullen 1 year from 15th February 2015 2,400 Mutual rolling break upon £22,000 three months’ notice. 9 40 86.15 927 Jamie Aylett 1 year from 1 April 2015 3,000 Mutual rolling break upon £28,000 three months’ notice. 10 41 Workshop 188.7 2,031 VACANT Withdrawn 11 42 Workshop 186.4 2,006 VACANT Withdrawn 12 47a Workshop 60.41 650 John Allen t/a Wash 6 months commencing 20th March 3,600 £30,000 & Go 2015 13 47b Café 22.40 241 M Richards & C Owen 5 years from 1 May 2014 4,500 Mutual rolling break upon £35,000 t/a The Café three months’ notice. 14 47c Workshop 16.22 175 Roy Pemberton Annual tenancy commencing 10th 1,200 Mutual rolling break upon £10,000 February 2013 three months’ notice. 15 48 Workshop 165.50 1,781 John Lowe Annual tenancy commencing 10th 6,000 Mutual rolling break upon £80,000 December 2013 three months’ notice. 16 51 Workshop 129.67 1,395 Dusan Sabo t/a DS 3 years from 1st January 2012 5,400 Mutual rolling break upon £80,000 Motors four months’ notice.
17 66 Workshop 157.24 1,692 VACANT We are informed that the £60,000 property was previously let at £6,000 per annum.
*See page 2 for information on Guide and Reserve Prices. 11 *Guide Price £160,000 Lot 18 LONG LEASEHOLD VACANT TWO BED FLAT 58b Boundary Road, Upton Park, London E13 9QG Description A two bedroom at on the rst oor of a converted mid-terraced bay- fronted house of traditional construction. Accommodation Reception, kitchen, 2 bedrooms, bathroom/WC Location The east London suburb of Upton Park lies about 7.2 miles from the capital’s West End and is famous for being the eponymous home ground for football club West Ham United. Boundary Road runs south from Barking Road (A124). The property lies on the west side of the road, just south of its junction with Coronation Road, in a mainly residential area. Upton Park Underground Station (District & Metropolitan lines) is about 0.69 miles away. Tenure Long leasehold / further information will be available in the Legal pack. The property is being sold with vacant possession. Local Authority London Borough of Newham tel: 020 3373 3107. Viewings Rehan Khawaja tel. 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £210,000 Lot 19 FREEHOLD VACANT FIVE BEDROOM HOUSE 8 Conway Avenue, Nottingham NG4 2PY Description A vacant three storey semi-detached ve bedroom house of traditional construction. Externally there is off-road parking for several cars, plus a substantial rear garden. Accommodation Five bedrooms, two receptions, conservatory, kitchen, bathroom/WC. Location The Nottingham suburb of Carlton lies about 3.25 miles east of the city centre, from which it can be accessed from Carlton Hill (B686). Conway Avenue runs off Conway Road and is within easy walking distance of the town centre and Carlton Station. The property lies within a modern residential estate. Tenure Freehold with vacant possession. Local Authority Gedling Borough Council tel: 0115 901 3720. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
12 *See page 2 for information on Guide and Reserve Prices. *Guide Price £240,000 Lot 20 AVAILABLE
61 High Street, Dumbarton G82 1LS Description Local Authority A ground oor lock up shop providing sales accommodation with West Dunbartonshire Council tel: 0141 951 7930. ancillary staff and storage areas. There is access to a common rear VAT yard via a corridor from the rear storage space. VAT is applicable. Location Viewings The Scottish town of Dumbarton lies on the northern bank of the River Rehan Khawaja tel: 020 8998 8464. Clyde, about 14 miles west of Glasgow. Dumbarton has a population of about 44,500 (2011 census) and can be accessed from the M8 N.B. All areas, dimensions and accommodation details have been motorway (junction 30) via the M898 spur and A82. Dumbarton’s High supplied via the vendor and should be veri ed: the auctioneers have Street is its main town centre retailing thoroughfare. The property lies not conducted an internal inspection. on the south side of High Street, with many national multiple retailers in the vicinity. The property lies diagonally opposite the entrance to the Artizan Shopping Centre. Tenure Heritable (Scottish equivalent of freehold). Tenant’s covenant Holland & Barrett is a leading retailer of health-related foods and other products. For the year ending 30 September 2013 the company reported pre-tax pro ts of £84,309 million and net assets of £251,864 million. Holland & Barrett trades from over 620 branches across the UK and Ireland.
Demise Dimensions m2 sq ft Tenant Tenancy Rent £pa Reviews Comments Ground oor Net internal area 180.97 1,948 Holland & Barrett Lease expiring 14 July 30,500 Retail Ltd 2018
*See page 2 for information on Guide and Reserve Prices. 13 *Guide Price £70,000 Lot 21 FREEHOLD RESIDENTIAL DEVELOPMENT SITE 28–32 The Elms, Dingle, Liverpool L8 3SS Description A derelict two storey house (No. 32) of traditional construction and an adjoining vacant site, part (No. 30) of which was once occupied by a house. The entire site extends to 0.0173 hectares (0.0426 acres). Location The Merseyside city of Liverpool is one of north west England’s major regional and commercial centres and lies about 31 miles west of Manchester. Liverpool has a population of about 466,000 (2011 census) and is the western terminus of the M62 Trans-Pennine motorway. It can also be accessed from the M53 motorway via the Mersey tunnel. Dingle lies about three miles south of the city centre. The Elms lies within a mainly modern residential area; the property lies on the south west side of the street close to its junction with Mallins Close. Tenure Freehold with vacant possession. Local Authority Liverpool City Council tel: 0151 233 3021. Planning and development Part of the site appears to be included within the successful application (Ref: 13F/0757) dated April 2013 for the erection of three family dwellings and two apartments. The adjoining land at 24 & 26 The Elms is also included within that application. Viewings No appointment necessary.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £20,000 Lot 22 FREEHOLD VACANT STORAGE BUILDING Building To The Rear Of 73 Broughton Road, Thornton Heath CR7 6AG Description A vacant single storey detached building. We are not aware that the property has any speci c planning use. Accommodation Gross internal area about 10 m2 (101 sq ft). Location The south London suburb of Thornton Heath lies a little under eight miles south of the capital’s West End and lies within the London Borough of Croydon. Broughton Road runs between Thornton Road (A23) and London Road (A235). The property lies to the rear of No. 73 Broughton Road, within an established residential area. Tenure Freehold with vacant possession. Local Authority London Borough of Croydon tel: 020 8726 6800. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
14 *See page 2 for information on Guide and Reserve Prices. *Guide Price £240,000 Lot 23 FREEHOLD RETAIL INVESTMENT
Unit 1, 78–80 Dalton Road, Barrow-in-Furness LA14 1JH Description A two storey terraced building of traditional construction providing a ground oor shop with ancillary accommodation above. Location The Cumbrian seaport of Barrow-in-Furness lies on the south west Cumbrian coast about 70 miles north west of Preston and can be accessed from the M6 motorway at junction 36 and thereby via the A590. Barrow has a population of about 57,000 (2011 census): its shipyard is the largest still active in the UK, whilst the town is also a hub for energy generation and handling. The partly-pedestrianised Dalton Road is Barrow’s main shopping street. The property lies on the pedestrianised section opposite the entrance to Portland Walk Arcade and is surrounded by major national multiple retailers. Tenure Long leasehold for a term of 999 years from 30th May 2003. Local Authority Barrow-in-Furness Borough Council tel: 01229 876375. VAT VAT is applicable. Viewings for the year ending 30 June 2014 indicated a net worth of over £26 million. Rehan Khawaja tel: 020 8998 8464. Tenant’s covenant N.B. All areas, dimensions and accommodation details have been The tenant trades from over 220 stores in the UK and more than 700 supplied via the vendor and should be veri ed: the auctioneers have stores globally, with representation in 21 countries. Their accounts not conducted an internal inspection.
Demise Dimensions (metric) (Imperial) Tenant Tenancy Rent £pa Reviews Comments Ground oor Sales 131.36 m2 1,413 sq ft Cash Converters 15 years from 27th 25,000 27.01.2017 and 5 Tenant’s break 27th January 2022. The rst 1st oor Ancillary 127.09 m2 1,368 sq ft (UK) Ltd January 2012 yearly thereafter rent review is “capped” to £35,000 p.a.
*See page 2 for information on Guide and Reserve Prices. 15 * LONG LEASEHOLD VACANT SHOP (PLANNING FOR Guide Price £50,000 Lot 24 CHANGE OF USE) Units 7 & 8, 54 & 55 Prince Regent Street, Stockton-on-Tees TS18 1DF Description A pair of adjoining single storey lock-up shops currently arranged as one unit comprising about 1,000 sq ft Location The Teesside town of Stockton on Tees lies about 3.75 miles west of Middlesbrough and forms part of the Teesside conurbation. The town has a population of about 191,600 (2011 census). Prince Regent Street (A1305) lies within the town centre. The property lies on the west side of the street, just north of its junction with Yarm Lane, in a mainly commercial area. Tenure Long leasehold for a term of 125 years from 25th November 2002 at a ground rent of £250 per annum. Local Authority Stockton-on-Tees Borough Council tel: 01642 526022. Planning and development Planning permission was granted on 29th April 2015. (application 15/0236/COU) for a change of use to two A5 (takeaway) units. We are informed that an interest fee loan for up to 30% of the cost of improvement works is available through Stockton-on-Tees Borough Council. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £35,000 Lot 25 LONG LEASEHOLD RESIDENTIAL INVESTMENT 85a Burke Street, Scunthorpe DN15 6DF Description A rst oor one bedroom at within a two storey mid-terraced converted house of traditional construction. Accommodation Two rooms, kitchen, bathroom/WC. Location The South Humberside town of Scunthorpe lies about 17 miles south west of Hull and can be reached from the M180 motorway at junction 3 via its spur, the M181. Burke Street lies about 0.6 miles north of the town centre and within a grid of residential streets. Tenure Long leasehold for a term of 99 years from 5th January 1990 at a ground rent of £50 per annum. Tenancy Let on an Assured Shorthold Tenancy (holding over) at £340 per calendar month (£4,080 per annum). Local Authority North Lincolnshire Council tel: 01724 297420. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
16 *See page 2 for information on Guide and Reserve Prices. * FREEHOLD VACANT DEVELOPMENT LAND WITH Guide Price £90,000 Lot 26 PLANNING Land Adjoining 89 Sedgwick Street, Jacksdale NG16 5JY Description A parcel of land comprising about 0.10 hectares (0.26 acres) with planning for four dwellings. Location The Nottinghamshire village of Jacksdale lies about ten miles north west of Nottingham and can be accessed from the M1 motorway (junction 27) via the A608 and Main Road/Flatts Lane. Jacksdale has a population of about 4,950 (2011 census). Sedgwick Street is a cul de sac running east off Main Road. The property lies in an established residential area and is approached from a driveway off the north side of the street. Tenure Freehold with vacant possession. Local Authority Ash eld District Council tel: 01623 457389. Planning and development Outline planning permission for the erection of four dwellings was granted on 13th August 2014 by Ash eld District Council (planning reference V/2014/0302). Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £200,000 Lot 27 FREEHOLD VACANT THREE BEDROOM BUNGALOW 89 Sedgwick Street, Jacksdale NG16 5JY Accommodation Two receptions, three bedrooms, kitchen, bathroom/WC, study and utility. Externally there are gardens to the front, side and rear, with driveway and parking area. Location The Nottinghamshire village of Jacksdale lies about ten miles north west of Nottingham and can be accessed from the M1 motorway (junction 27) via the A608 and Main Road/Flatts Lane. Jacksdale has a population of about 4,950 (2011 census). Sedgwick Street is a cul de sac running east off Main Road. The property lies in an established residential area and is approached from a driveway off the north side of the street. Tenure Freehold with vacant possession. Local Authority Ash eld District Council tel: 01623 457389. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*See page 2 for information on Guide and Reserve Prices. 17 *Guide Price £35,000 Lot 28 LONG LEASEHOLD RESIDENTIAL INVESTMENT 148 Victoria Road, Scarborough YO11 1SL Description A ground oor at within a two storey mid-terraced building of traditional construction. Accommodation Two bedrooms, reception (open plan kitchen), bathroom/WC. Location The north Yorkshire seaside resort of Scarborough lies about 34 miles north east of York, from which it can be reached via the A64. Scarborough has a population of about 108,700 (2011 census), with tourism having replaced shing as the town’s major commercial activity. Victoria Road runs north east off Falsgrave Road (A64). The property lies on the south east side of Victoria Road, close to its junction with Belle Vue parade, in a mixed commercial/residential area. Tenure Long leasehold. Further information will be available from the legal pack. Tenancy Let on an Assured Shorthold Tenancy at a rent of £350 per calendar month (£4,200 per annum). Local Authority Scarborough Borough Council tel: 01723 232323. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
*Guide Price £190,000 Lot 29 FREEHOLD RESIDENTIAL INVESTMENT 19 Lynett Road, Dagenham RM8 1RJ Description A two storey end-terraced two bedroom house of traditional construction, with rear garden and off-street parking. Accommodation Two bedrooms, reception, kitchen, bathroom/WC. Externally there is a rear garden and parking for two cars. Location Dagenham is an east London commuter suburb lying about 12 miles east of the capital’s West End and lies within the London Borough of Barking and Dagenham, which has a population of about 187,000 (2011 census). Lynett Road runs parallel with, and to the north of, Green Lane (A1083) and within an established residential area. Chadwell Heath station lies about half a mile to the north. Tenure Freehold. Tenancy Let on an Assured Shorthold Tenancy at £1,300 per calendar month (£15,600 per annum). Local Authority London Borough of Barking and Dagenham tel: 020 8227 3933. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
18 *See page 2 for information on Guide and Reserve Prices. *Guide Price £TBC Lot 30 LONG LEASEHOLD VACANT TWO BED FLAT 24a Old Southend Road, Southend-on-Sea SS1 2HA Description A rst oor two bedroom at within a mid-terraced former house of traditional construction. There is a separate garden, accessed from the side. Accommodation Two bedrooms, reception, kitchen, bathroom/WC. Location The Essex seaside resort of Southend-on-Sea lies about 17 miles south east of Chelmsford and about 37 miles east of London. Southend has a population of about 174,270 (2011 census) and is well known as a tourist resort, with the longest leisure pier in the world. Old Southend Road lies within a grid of streets forming a residential area to the east of the town centre. The property lies on the east side of the road. Tenure Long leasehold. Further information will be available within the legal pack. The property will be sold with vacant possession. Local Authority Southend-on-Sea Borough Council tel: 01702 215331. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
* FREEHOLD RESIDENTIAL INVESTMENT Guide Price £125,000 Lot 31 (PART VACANT) 6 Richmond Terrace, Liverpool L6 5EA Description A three storey semi detached house of traditional construction that has been converted to provide ve one-bed self contained ats. Four of the ats are currently vacant. Location The city of Liverpool lies on the east side of the Mersey estuary and has a population of about 466,400 (2011 census). Liverpool is at the western terminus of the M62 trans-Pennine motorway and, whilst it retains its commercial importance as a port, it has also become a popular tourist destination in recent years. Richmond Terrace lies in the Breck Road area, about 2.3 miles north east of the city centre. The property lies on the west side of the road within an established residential area. Tenure Freehold with part vacant possession. Local Authority Liverpool City Council tel: 0151 233 3021. Viewings Rehan Khawaja tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been supplied via the vendor and should be veri ed: the auctioneers have not conducted an internal inspection.
Floor Flat Accommodation Tenancy Rent £pa Comments Ground 1 Reception, bedroom, kitchen, bathroom/WC VACANT We are informed that, when fully let, the 2 Reception, bedroom, kitchen, bathroom/WC VACANT potential annual rental income is in excess First 3 Reception, bedroom, kitchen, bathroom/WC VACANT of £23,500 pa. Second 4 Reception, bedroom, kitchen, bathroom/WC VACANT 5 Reception, bedroom, kitchen, bathroom/WC AST 4,758
*See page 2 for information on Guide and Reserve Prices. 19 *Guide Price £170,000 Lot 32 LONG LEASEHOLD RESIDENTIAL INVESTMENT 71a–75a Borough Road, Wallasey CH44 6NB Description The upper oors of two adjoining three storey terraced buildings of traditional construction, arranged to provide 12 letting rooms. Externally there is a decked rear yard. Eight of the letting rooms are currently let, with four vacant. Location The Merseyside town of Wallasey lies at the northern tip of the Wirral peninsula, directly opposite Liverpool on the west bank of the Mersey. The town has a ward population of about 15,000 (2011 census) and lies at the northern terminus of the M53 motorway. Borough Road (A5028) runs east off Poulton Road (B5145) in the town centre. The property occupies a corner position at the junction with Brighton Street (A554), in an established retail/residential area. Tenure Long leasehold under two leases, each for a term of 999 years from 31 January 1991 and each at a ground rent of £25 per annum. Local Authority Wirral Metropolitan Borough Council tel: 0151 691 8399. Planning & development N.B. All areas, dimensions and accommodation details have been We understand that it may be possible to register the property as supplied via the vendor and should be veri ed: the auctioneers have a House In Multiple Occupation (HMO). Interested parties should not conducted an internal inspection. contact the local authority direct (see above) to verify this. Viewings Rehan Khawaja tel: 020 8998 8464.
Demise Tenancies Rent £pa Comments Eight letting rooms Various: all on ASTs 24,960 Four letting rooms VACANT We believe that, when fully let, the property could produce in excess of £34,000 pa.
*Guide Price £150,000 Lot 33 FREEHOLD VACANT HOUSE 57 Grosvenor Road, Luton LU3 2EG Description A vacant two storey semi-detached house of traditional construction providing ve rooms, kitchen and bathroom/WC. Externally there are front and rear gardens and also a detached single garage. Location The Bedfordshire university town of Luton lies about 34 miles north west of London and can be accessed from the M2 motorway at junctions 10 & 11. Luton is known for its international airport and as a manufacturing town. Luton has a population of over 200,000 (2011 census). Grosvenor Road lies a little over two miles north of the town centre in the sub-district of Icknield. The property lies on the north side of the road within a mainly residential area. Icknield Primary School is nearby. Tenure Freehold with vacant possession. Local Authority Luton Borough Council tel: 01582 54637. Viewings Deema Al-Azawi tel: 020 8998 8464.
N.B. All areas, dimensions and accommodation details have been Floor Area (metric) (Imperial) supplied via the vendor and should be veri ed: the auctioneers have Ground Reception 1 4.02m × 3.46m (max) 13 ft 2 in × 11 ft 4 in not conducted an internal inspection. Reception 2 3.23m × 3.45m 10 ft 7 in × 11 ft 4 in Kitchen 1.96m × 2.48m 6 ft 5 in × 8 ft 1 in Entrance Hall First Bedroom 1 4.03m (into bay) × 4.35m 13 ft 3 in × 14 ft 3 in Bedroom 2 2.71m × 3.47m 8 ft 10 in × 11 ft 4 in By order of Bedroom 3 2.56m × 2.51m 8 ft 4 in × 8 ft 3 in Bathroom/WC
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T: 01895 809 510 E: [email protected] Putting a roof over the heads of Tenants 21 COMMON AUCTION CONDITIONS
Glossary Lot This glossary applies to the auction conduct conditions and the sale Each separate property described in the catalogue or (as the case may conditions. be) the property that the seller has agreed to sell and the buyer to buy Wherever it makes sense: (including chattels, if any). • singular words can be read as plurals, and plurals as singular words; • a ‘person’ includes a corporate body; Old arrears • words of one gender include the other genders; Arrears due under any of the tenancies that are not ‘new tenancies’ as • references to legislation are to that legislation as it may have been modifi ed defi ned by the Landlord and Tenant (Covenants) Act 1995. or re-enacted by the date of the auction or the contract date (as applicable); and where the following words printed in bold red type appear in bold black Particulars type they have the speci ed meanings. The section of the catalogue that contains descriptions of each lot (as varied by any addendum). Actual completion date The date when completion takes place or is treated as taking place for the Practitioner purposes of apportionment and calculating interest. An insolvency practitioner for the purposes of the Insolvency Act 1986 (or, in relation to jurisdictions outside the United Kingdom, any similar offi cial). Addendum An amendment or addition to the conditions or to the particulars or to both Price whether contained in a supplement to the catalogue, a written notice from the The price that the buyer agrees to pay for the lot. auctioneers or an oral announcement at the auction. Ready to complete Agreed completion date Ready, willing and able to complete: if completion would enable the seller Subject to condition G9.3: to discharge all nancial charges secured on the lot that have to be (a) the date specifi ed in thespecial conditions; or discharged by completion, then those outstanding fi nancial charges do not (b) if no date is specifi ed, 20business days after the contract date; prevent the seller from being ready to complete. but if that date is not a business day the fi rst subsequentbusiness day. Sale conditions Approved nancial institution The general conditions as varied by any special conditions or addendum. Any bank or building society that has signed up to the Banking Code or Business Banking Code or is otherwise acceptable to the auctioneers. Sale memorandum The form so headed (whether or not set out in the catalogue) in which the Arrears terms of the contract for the sale of the lot are recorded. Arrears of rent and other sums due under the tenancies and still outstanding on the actual completion date. Seller The person selling the lot. If two or more are jointly the seller their Arrears schedule obligations can be enforced against them jointly or against each of them The arrears schedule (if any) forming part of the special conditions. separately. Auction Special conditions The auction advertised in the catalogue. Those of the sale conditions so headed that relate to the lot. Auction conduct conditions Tenancies The conditions so headed, including any extra auction conduct conditions. Tenancies, leases, licences to occupy and agreements for lease and any documents varying or supplemental to them. Auctioneers The auctioneers at the auction. Tenancy schedule The tenancy schedule (if any) forming part of the special conditions. Business day Any day except (a) a Saturday or a Sunday; (b) a bank holiday in England and Transfer Wales; or (c) Good Friday or Christmas Day. Transfer includes a conveyance or assignment (and ‘to transfer’ includes ‘to convey’ or ‘to assign’). Buyer The person who agrees to buy the lot or, if applicable, that person’s personal TUPE representatives: if two or more are jointly the buyer their obligations can be The Transfer of Undertakings (Protection of Employment) Regulations 2006. enforced against them jointly or against each of them separately. VAT Catalogue Value Added Tax or other tax of a similar nature. The catalogue to which the conditions refer including any supplement to it. VAT option Completion An option to tax. Unless otherwise agreed between seller and buyer (or their conveyancers) the occasion when both seller and buyer have complied with their obligations We (and us and our) under the contract and the balance of the price is unconditionally received in The auctioneers. the seller’s conveyancer’s client account. You (and your) Condition Someone who has a copy of the catalogue or who attends or bids at the One of the auction conduct conditions or sales conditions. auction, whether or not a buyer. Contract Auction Conduct Conditions The contract by which the seller agrees to sell and the buyer agrees to buy the lot. A1 Introduction A1.1 Words in bold black type have special meanings, which are defi ned Contract date in the Glossary. The date of the auction or, if the lot is not sold at the auction: A1.2 The catalogue is issued only on the basis that you accept these (a) the date of the sale memorandum signed by both the seller and buyer; or auction conduct conditions. They govern our relationship with (b) if contracts are exchanged, the date of exchange. If exchange is not effected you and cannot be disapplied or varied by the sale conditions in person or by an irrevocable agreement to exchange made by telephone, (even by a condition purporting to replace the whole of the fax or electronic mail the date of exchange is the date on which both parts Common Auction Conditions). They can be varied only if we agree. have been signed and posted or otherwise placed beyond normal retrieval. A2 Our role Documents A2.1 As agents for each seller we have authority to: Documents of title (including, if title is registered, the entries on the register (a) prepare the catalogue from information supplied by or on behalf and the title plan) and other documents listed or referred to in the special of each seller; conditions relating to the lot. (b) offer each lot for sale; (c) sell each lot; Financial charge (d) receive and hold deposits; A charge to secure a loan or other fi nancial indebtedness (not including a rent (e) sign each sale memorandum; and charge). (f) treat a contract as repudiated if the buyer fails to sign a sale memorandum or pay a deposit as required by these auction General conditions conduct conditions. That part of the sale conditions so headed, including any extra general A2.2 Our decision on the conduct of the auction is fi nal. conditions. A2.3 We may cancel the auction, or alter the order in which lots are offered for sale. We may also combine or divide lots. A lot may be Interest rate sold or withdrawn from sale prior to the auction. If not specifi ed in thespecial conditions, 4% above the base rate from time A2.4 You acknowledge that to the extent permitted by law we owe you to time of Barclays Bank plc. (The interest rate will also apply to judgment no duty of care and you have no claim against us for any loss. debts, if applicable.) 22 A3 Bidding and reserve prices G1.4 The lot is also sold subject to such of the following as may affect it, A3.1 All bids are to be made in pounds sterling exclusive of any whether they arise before or after the contract date and whether or applicable VAT. not they are disclosed by the seller or are apparent from inspection A3.2 We may refuse to accept a bid. We do not have to explain why. of the lot or from the documents: A3.3 If there is a dispute over bidding we are entitled to resolve it, and (a) matters registered or capable of registration as local land our decision is fi nal. charges; A3.4 Unless stated otherwise each lot is subject to a reserve price (b) matters registered or capable of registration by any competent (which may be fi xed just before thelot is offered for sale). If no bid authority or under the provisions of any statute; equals or exceeds that reserve price the lot will be withdrawn from (c) notices, orders, demands, proposals and requirements of any the auction. competent authority; A3.5 Where there is a reserve price the seller may bid (or ask us or (d) charges, notices, orders, restrictions, agreements and other another agent to bid on the seller’s behalf) up to the reserve price matters relating to town and country planning, highways or but may not make a bid equal to or exceeding the reserve price. public health; You accept that it is possible that all bids up to the reserve price (e) rights, easements, quasi-easements, and wayleaves; are bids made by or on behalf of the seller. (f) outgoings and other liabilities; A3.6 Where a guide price (or range of prices) is given that guide is the (g) any interest which overrides, within the meaning of the Land minimum price at which, or range of prices within which, the seller Registration Act 2002; might be prepared to sell at the date of the guide price. But guide (h) matters that ought to be disclosed by the searches and prices may change. The last published guide price will normally be enquiries a prudent buyer would make, whether or not the buyer at or above any reserve price, but not always – as the seller may fi x has made them; and the fi nal reserve price just before bidding commences. (i) anything the seller does not and could not reasonably know about. A4 The particulars and other information G1.5 Where anything subject to which the lot is sold would expose the A4.1 We have taken reasonable care to prepare particulars that seller to liability the buyer is to comply with it and indemnify the correctly describe each lot. The particulars are based on seller against that liability. information supplied by or on behalf of the seller. You need to G1.6 The seller must notify the buyer of any notices, orders, demands, check that the information in the particulars is correct. proposals and requirements of any competent authority of which A4.2 If the special conditions do not contain a description of the it learns after the contract date but the buyer must comply with lot, or simply refer to the relevant lot number, you take the risk them and keep the seller indemnifi ed. that the description contained in the particulars is incomplete G1.7 The lot does not include any tenant’s or trade fi xtures or fi ttings. or inaccurate, as the particulars have not been prepared by a G1.8 Where chattels are included in the lot the buyer takes them as they conveyancer and are not intended to form part of a legal contract. are at completion and the seller is not liable if they are not fi t for A4.3 The particulars and the sale conditions may change prior to the use. auction and it is your responsibility to check that you have the G1.9 The buyer buys with full knowledge of: correct versions. (a) the documents, whether or not the buyer has read them; and A4.4 If we provide information, or a copy of a document, provided by (b) the physical condition of the lot and what could reasonably be others we do so only on the basis that we are not responsible for discovered on inspection of it, whether or not the buyer has the accuracy of that information or document. inspected it. G1.10 The buyer is not to rely on the information contained in the A5 The contract particulars but may rely on the seller’s conveyancer’s written A5.1 A successful bid is one we accept as such (normally on the fall of replies to preliminary enquiries to the extent stated in those replies. the hammer). This condition A5 applies to you if you make the successful bid for a lot. G2. Deposit A5.2 You are obliged to buy the lot on the terms of the sale G2.1 The amount of the deposit is the greater of: memorandum at the price you bid plus VAT (if applicable). (a) any minimum deposit stated in the auction conduct conditions A5.3 You must before leaving the auction: (or the total price, if this is less than that minimum); and (a) provide all information we reasonably need from you to enable (b) 10% of the price (exclusive of any VAT on the price). us to complete the sale memorandum (including proof of your identity if required by us); G2.2 The deposit (b) sign the completed sale memorandum; and (a) must be paid in pounds sterling by cheque or banker’s draft (c) pay the deposit. drawn on an approved nancial institution (or by any other A5.4 If you do not we may either: means of payment that the auctioneers may accept); and (a) as agent for the seller treat that failure as your repudiation of (b) is to be held as stakeholder unless the auction conduct the contract and offer the lot for sale again: the seller may then conditions provide that it is to be held as agent for the seller. have a claim against you for breach of contract; or G2.3 Where the auctioneers hold the deposit as stakeholder they are (b) sign the sale memorandum on your behalf. authorised to release it (and interest on it if applicable) to the seller on completion or, if completion does not take place, to the person A5.5 The deposit: entitled to it under the sale conditions. (a) is to be held as stakeholder where VAT would be chargeable G2.4 If a cheque for all or part of the deposit is not cleared on fi rst on the deposit were it to be held as agent for the seller, but presentation the seller may treat the contract as at an end and otherwise is to be held as stated in the sale conditions; and bring a claim against the buyer for breach of contract. (b) must be paid in pounds sterling by cheque or by bankers’ draft G2.5 Interest earned on the deposit belongs to the seller unless the sale made payable to us on an approved nancial institution. The conditions provide otherwise. extra auction conduct conditions may state if we accept any other form of payment. G3. Between contract and completion A5.6 We may retain the sale memorandum signed by or on behalf of G3.1 Unless the special conditions state otherwise, the seller is to the seller until the deposit has been received in cleared funds. insure the lot from and including the contract date to completion A5.7 If the buyer does not comply with its obligations under the and: contract then: (a) produce to the buyer on request all relevant insurance details; (a) you are personally liable to buy the lot even if you are acting as (b) pay the premiums when due; an agent; and (c) if the buyer so requests, and pays any additional premium, use (b) you must indemnify the seller in respect of any loss the seller reasonable endeavours to increase the sum insured or make incurs as a result of the buyer’s default. other changes to the policy; A5.8 Where the buyer is a company you warrant that the buyer is (d) at the request of the buyer use reasonable endeavours to have properly constituted and able to buy the lot. the buyer’s interest noted on the policy if it does not cover a contracting purchaser; A6 Extra Auction Conduct Conditions (e) unless otherwise agreed, cancel the insurance at completion, A6.1 Despite any special condition to the contrary the minimum deposit apply for a refund of premium and (subject to the rights of any we accept is £2,000 (or the total price, if less). A special condition tenant or other third party) pay that refund to the buyer; and may, however, require a higher minimum deposit. (f) (subject to the rights of any tenant or other third party) hold on trust for the buyer any insurance payments that the seller General conditions of sale receives in respect of loss or damage arising after the contract Words in bold black type have special meanings, which are defi ned in the date or assign to the buyer the benefi t of any claim; Glossary. and the buyer must on completion reimburse to the seller the cost The general conditions (including any extra general conditions) apply to the of that insurance (to the extent not already paid by the buyer or contract except to the extent that they are varied by special conditions or a tenant or other third party) for the period from and including the by an addendum. contract date to completion. G3.2 No damage to or destruction of the lot nor any deterioration in its G1. The lot condition, however caused, entitles the buyer to any reduction in G1.1 The lot (including any rights to be granted or reserved, and any price, or to delay completion, or to refuse to complete. exclusions from it) is described in the special conditions, or if not G3.3 Section 47 of the Law of Property Act 1925 does not apply. so described the lot is that referred to in the sale memorandum. G3.4 Unless the buyer is already lawfully in occupation of the lot the G1.2 The lot is sold subject to any tenancies disclosed by the special buyer has no right to enter into occupation prior to completion. conditions, but otherwise with vacant possession on completion. G1.3 The lot is sold subject to all matters contained or referred to in the G4. Title and identity documents, but excluding any nancial charges: these the seller G4.1 Unless condition G4.2 applies, the buyer accepts the title of must discharge on or before completion. the seller to the lot as at the contract date and may raise no 23 AUCTION CONDITIONS (continued)
requisition or objection except in relation to any matter that occurs G7.3 If the buyer fails to comply with a notice to complete the seller after the contract date. may, without affecting any other remedy the seller has: G4.2 If any of the documents is not made available before the auction (a) terminate the contract; the following provisions apply: (b) claim the deposit and any interest on it if held by a stakeholder; (a) The buyer may raise no requisition on or objection to any of the (c) forfeit the deposit and any interest on it; documents that is made available before the auction. (d) resell the lot; and (b) If the lot is registered land the seller is to give to the buyer within (e) claim damages from the buyer. fi ve business days of the contract date an offi cial copy of the G7.4 If the seller fails to comply with a notice to complete the buyer entries on the register and title plan and, where noted on the may, without affecting any other remedy the buyer has: register, of all documents subject to which the lot is being sold. (a) terminate the contract; and (c) If the lot is not registered land the seller is to give to the buyer (b) recover the deposit and any interest on it from the seller or, if within fi ve business days an abstract or epitome of title starting applicable, a stakeholder. from the root of title mentioned in the special conditions (or, if none is mentioned, a good root of title more than fi fteen years G8. If the contract is brought to an end old) and must produce to the buyer the original or an examined If the contract is lawfully brought to an end: copy of every relevant document. (a) the buyer must return all papers to the seller and appoints the (d) If title is in the course of registration, title is to consist of certifi ed seller its agent to cancel any registration of the contract; and copies of: (b) the seller must return the deposit and any interest on it to (i) the application for registration of title made to the land registry; the buyer (and the buyer may claim it from the stakeholder, (ii) the documents accompanying that application; if applicable) unless the seller is entitled to forfeit the deposit (iii) evidence that all applicable stamp duty land tax relating to that under condition G7.3. application has been paid; and (iv) a letter under which the seller or its conveyancer agrees to use G9. Landlord’s licence all reasonable endeavours to answer any requisitions raised by G9.1 Where the lot is or includes leasehold land and licence to assign is the land registry and to instruct the land registry to send the required this condition G9 applies. completed registration documents to the buyer. G9.2 The contract is conditional on that licence being obtained, by way (e) The buyer has no right to object to or make requisitions on of formal licence if that is what the landlord lawfully requires. any title information more than seven business days after that G9.3 The agreed completion date is not to be earlier than the date fi ve information has been given to the buyer. business days after the seller has given notice to the buyer that G4.3 Unless otherwise stated in the special conditions the seller licence has been obtained. sells with full title guarantee except that (and the transfer shall so G9.4 The seller must: provide): (a) use all reasonable endeavours to obtain the licence at the (a) the covenant set out in section 3 of the Law of Property seller’s expense; and (Miscellaneous Provisions) Act 1994 shall not extend to matters (b) enter into any authorised guarantee agreement properly recorded in registers open to public inspection; these are to be required. treated as within the actual knowledge of the buyer; and G9.5 The buyer must: (b) the covenant set out in section 4 of the Law of Property (a) promptly provide references and other relevant information; and (Miscellaneous Provisions) Act 1994 shall not extend to any (b) comply with the landlord’s lawful requirements. condition or tenant’s obligation relating to the state or condition G9.6 If within three months of the contract date (or such longer period of the lot where the lot is leasehold property. as the seller and buyer agree) the licence has not been obtained G4.4 The transfer is to have effect as if expressly subject to all matters the seller or the buyer may (if not then in breach of any obligation subject to which the lot is sold under the contract. under this condition G9) by notice to the other terminate the G4.5 The seller does not have to produce, nor may the buyer object to contract at any time before licence is obtained. That termination is or make a requisition in relation to, any prior or superior title even if without prejudice to the claims of either seller or buyer for breach it is referred to in the documents. of this condition G9. G4.6 The seller (and, if relevant, the buyer) must produce to each other such confi rmation of, or evidence of, their identity and that of their G10. Interest and apportionments mortgagees and attorneys (if any) as is necessary for the other G10.1 If the actual completion date is after the agreed completion date to be able to comply with applicable Land Registry Rules when for any reason other than the seller’s default the buyer must pay making application for registration of the transaction to which the interest at the interest rate on the price (less any deposit paid) conditions apply. from the agreed completion date up to and including the actual completion date. G5. Transfer G10.2 Subject to condition G11 the seller is not obliged to apportion or G5.1 Unless a form of transfer is prescribed by the special conditions: account for any sum at completion unless the seller has received (a) the buyer must supply a draft transfer to the seller at least ten that sum in cleared funds. The seller must pay to the buyer after business days before the agreed completion date and the completion any sum to which the buyer is entitled that the seller engrossment (signed as a deed by the buyer if condition G5.2 subsequently receives in cleared funds. applies) fi ve business days before that date or (if later) two G10.3 Income and outgoings are to be apportioned at actual completion business days after the draft has been approved by the seller; date unless: and (a) the buyer is liable to pay interest; and (b) the seller must approve or revise the draft transfer within fi ve (b) the seller has given notice to the buyer at any time up to business days of receiving it from the buyer. completion requiring apportionment on the date from which G5.2 If the seller remains liable in any respect in relation to the lot interest becomes payable by the buyer; (or a tenancy) following completion the buyer is specifi cally to in which event income and outgoings are to be apportioned on the covenant in the transfer to indemnify the seller against that liability. date from which interest becomes payable by the buyer. G5.3 The seller cannot be required to transfer the lot to anyone other G10.4 Apportionments are to be calculated on the basis that: than the buyer, or by more than one transfer. (a) the seller receives income and is liable for outgoings for the whole of the day on which apportionment is to be made; G6. Completion (b) annual income and expenditure accrues at an equal daily rate G6.1 Completion is to take place at the offi ces of theseller’s assuming 365 days in a year, and income and expenditure conveyancer, or where the seller may reasonably require, on the relating to some other period accrues at an equal daily rate agreed completion date. The seller can only be required to during the period to which it relates; and complete on a business day and between the hours of 0930 and (c) where the amount to be apportioned is not known at 1700. completion apportionment is to be made by reference to a G6.2 The amount payable on completion is the balance of the price reasonable estimate and further payment is to be made by seller adjusted to take account of apportionments plus (if applicable) VAT or buyer as appropriate within fi vebusiness days of the date and interest. when the amount is known. G6.3 Payment is to be made in pounds sterling and only by: (a) direct transfer to the seller’s conveyancer’s client account; and G11. Arrears (b) the release of any deposit held by a stakeholder. G6.4 Unless the seller and the buyer otherwise agree, completion Part 1 Current rent cannot take place until both have complied with their obligations G11.1 ‘Current rent’ means, in respect of each of the tenancies subject to under the contract and the balance of the price is unconditionally which the lot is sold, the instalment of rent and other sums payable received in the seller’s conveyancer’s client account. by the tenant in advance on the most recent rent payment date on G6.5 If completion takes place after 1400 hours for a reason other or within four months preceding completion. than the seller’s default it is to be treated, for the purposes of G11.2 If on completion there are any arrears of current rent the buyer apportionment and calculating interest, as if it had taken place on must pay them, whether or not details of those arrears are given in the next business day. the special conditions. G6.6 Where applicable the contract remains in force following G11.3 Parts 2 and 3 of this condition G11 do not apply to arrears of completion. current rent. G7. Notice to complete Part 2 Buyer to pay for arrears G7.1 The seller or the buyer may on or after the agreed completion G11.4 Part 2 of this condition G11 applies where the special conditions date but before completion give the other notice to complete give details of arrears. within ten business days (excluding the date on which the notice is G11.5 The buyer is on completion to pay, in addition to any other money given) making time of the essence. then due, an amount equal to all arrears of which details are set G7.2 The person giving the notice must be ready to complete. out in the special conditions. 24 G11.6 If those arrears are not old arrears the seller is to assign to the (c) article 5(2B) of the Value Added Tax (Special Provisions) Order buyer all rights that the seller has to recover those arrears. 1995 does not apply to it; and (d) it is not buying the lot as a nominee for another person. Part 3 Buyer not to pay for arrears G15.4 The buyer is to give to the seller as early as possible before the G11.7 Part 3 of this condition G11 applies where the special conditions: agreed completion date evidence: (a) so state; or (a) of the buyer’s VAT registration; (b) give no details of any arrears. (b) that the buyer has made a VAT option; and G11.8 While any arrears due to the seller remain unpaid the buyer must: (c) that the VAT option has been notifi ed in writing to HM Revenue (a) try to collect them in the ordinary course of management but and Customs; and if it does not produce the relevant evidence need not take legal proceedings or forfeit the tenancy; at least two business days before the agreed completion date, (b) pay them to the seller within fi vebusiness days of receipt in condition G14.1 applies at completion. cleared funds (plus interest at the interest rate calculated on a G15.5 The buyer confi rms that aftercompletion the buyer intends to: daily basis for each subsequent day’s delay in payment); (a) retain and manage the lot for the buyer’s own benefi t as a (c) on request, at the cost of the seller, assign to the seller or continuing business as a going concern subject to and with the as the seller may direct the right to demand and sue for old benefi t of thetenancies ; and arrears, such assignment to be in such form as the seller’s (b) collect the rents payable under the tenancies and charge VAT conveyancer may reasonably require; on them (d) if reasonably required, allow the seller’s conveyancer to have on G15.6 If, after completion, it is found that the sale of the lot is not a loan the counterpart of any tenancy against an undertaking to transfer of a going concern then: hold it to the buyer’s order; (a) the seller’s conveyancer is to notify the buyer’s conveyancer of (e) not without the consent of the seller release any tenant or surety that fi nding and provide aVAT invoice in respect of the sale of from liability to pay arrears or accept a surrender of or forfeit the lot; any tenancy under which arrears are due; and (b) the buyer must within fi vebusiness days of receipt of the VAT (f) if the buyer disposes of the lot prior to recovery of all arrears invoice pay to the seller the VAT due; and obtain from the buyer’s successor in title a covenant in favour of (c) if VAT is payable because the buyer has not complied with this the seller in similar form to part 3 of this condition G11. condition G15, the buyer must pay and indemnify the seller G11.9 Where the seller has the right to recover arrears it must not against all costs, interest, penalties or surcharges that the seller without the buyer’s written consent bring insolvency proceedings incurs as a result. against a tenant or seek the removal of goods from the lot. G16. Capital allowances G12. Management G16.1 This condition G16 applies where the special conditions state G12.1 This condition G12 applies where the lot is sold subject to that there are capital allowances available in respect of the lot. tenancies. G16.2 The seller is promptly to supply to the buyer all information G12.2 The seller is to manage the lot in accordance with its standard reasonably required by the buyer in connection with the buyer’s management policies pending completion. claim for capital allowances. G12.3 The seller must consult the buyer on all management issues that G16.3 The value to be attributed to those items on which capital would affect the buyer after completion (such as, but not limited allowances may be claimed is set out in the special conditions. to, an application for licence; a rent review; a variation, surrender, G16.4 The seller and buyer agree: agreement to surrender or proposed forfeiture of a tenancy; or a (a) to make an election on completion under Section 198 of the new tenancy or agreement to grant a new tenancy) and: Capital Allowances Act 2001 to give effect to this condition (a) the seller must comply with the buyer’s reasonable G16; and requirements unless to do so would (but for the indemnity in (b) to submit the value specifi ed in thespecial conditions to HM paragraph (c)) expose the seller to a liability that the seller Revenue and Customs for the purposes of their respective would not otherwise have, in which case the seller may act capital allowance computations. reasonably in such a way as to avoid that liability; (b) if the seller gives the buyer notice of the seller’s intended G17. Maintenance agreements act and the buyer does not object within fi vebusiness days G17.1 The seller agrees to use reasonable endeavours to transfer to giving reasons for the objection the seller may act as the seller the buyer, at the buyer’s cost, the benefi t of the maintenance intends; and agreements specifi ed in thespecial conditions. (c) the buyer is to indemnify the seller against all loss or liability the G17.2 The buyer must assume, and indemnify the seller in respect of, all seller incurs through acting as the buyer requires, or by reason liability under such contracts from the actual completion date. of delay caused by the buyer. G18. Landlord and Tenant Act 1987 G13. Rent deposits G18.1 This condition G18 applies where the sale is a relevant disposal for G13.1 This condition G13 applies where the seller is holding or otherwise the purposes of part I of the Landlord and Tenant Act 1987. entitled to money by way of rent deposit in respect of a tenancy. G18.2 The seller warrants that the seller has complied with sections 5B In this condition G13 ‘rent deposit deed’ means the deed or other and 7 of that Act and that the requisite majority of qualifying tenants document under which the rent deposit is held. has not accepted the offer. G13.2 If the rent deposit is not assignable the seller must on completion hold the rent deposit on trust for the buyer and, subject to the G19. Sale by practitioner terms of the rent deposit deed, comply at the cost of the buyer with G19.1 This condition G19 applies where the sale is by a practitioner the buyer’s lawful instructions. either as seller or as agent of the seller. G13.3 Otherwise the seller must on completion pay and assign its interest G19.2 The practitioner has been duly appointed and is empowered to sell in the rent deposit to the buyer under an assignment in which the the lot. buyer covenants with the seller to: G19.3 Neither the practitioner nor the fi rm or any member of the fi rm (a) observe and perform the seller’s covenants and conditions in to which the practitioner belongs has any personal liability the rent deposit deed and indemnify the seller in respect of any in connection with the sale or the performance of the seller’s breach; obligations. The transfer is to include a declaration excluding that (b) give notice of assignment to the tenant; and personal liability. (c) give such direct covenant to the tenant as may be required by G19.4 The lot is sold: the rent deposit deed. (a) in its condition at completion; (b) for such title as the seller may have; and G14. VAT (c) with no title guarantee; G14.1 Where a sale condition requires money to be paid or other and the buyer has no right to terminate the contract or any consideration to be given, the payer must also pay any VAT that is other remedy if information provided about the lot is inaccurate, chargeable on that money incomplete or missing. G14.2 Where the special conditions state that no VAT option has been G19.5 Where relevant: made the seller confi rms that none has been made by it or by any (a) the documents must include certifi ed copies of those company in the same VAT group nor will be prior to completion. under which the practitioner is appointed, the document of appointment and the practitioner’s acceptance of appointment; G15. Transfer as a going concern and G15.1 Where the special conditions so state: (b) the seller may require the transfer to be by the lender (a) the seller and the buyer intend, and will take all practicable exercising its power of sale under the Law of Property Act 1925. steps (short of an appeal) to procure, that the sale is treated as a G19.6 The buyer understands this condition G19 and agrees that it is fair transfer of a going concern; and (b) this condition G15 applies. in the circumstances of a sale by a practitioner. G15.2 The seller confi rms that theseller (a) is registered for VAT, either in the seller’s name or as a member G20. TUPE of the same VAT group; and G20.1 If the special conditions state ‘There are no employees to which (b) has (unless the sale is a standard-rated supply) made in relation TUPE applies’, this is a warranty by the seller to this effect. to the lot a VAT option that remains valid and will not be G20.2 If the special conditions do not state ‘There are no employees to revoked before completion. which TUPE applies’ the following paragraphs apply: G15.3 The buyer confi rms that: (a) The seller must notify the buyer of those employees whose (a) it is registered for VAT, either in the buyer’s name or as a contracts of employment will transfer to the buyer on member of a VAT group; completion (the ‘Transferring Employees’). This notifi cation (b) it has made, or will make before completion, a VAT option in must be given to the buyer not less than 14 days before relation to the lot and will not revoke it before or within three completion. months after completion; 25 AUCTION CONDITIONS (continued)
(b) The buyer confi rms that it will comply with its obligations under G23.8 The seller and the buyer are to bear their own costs in relation to TUPE and any special conditions in respect of the Transferring rent review negotiations and proceedings. Employees. (c) The buyer and the seller acknowledge that pursuant and G24. Tenancy renewals subject to TUPE, the contracts of employment between the G24.1 This condition G24 applies where the tenant under a tenancy Transferring Employees and the seller will transfer to the buyer has the right to remain in occupation under part II of the Landlord on completion. and Tenant Act 1954 (as amended) and references to notices and (d) The buyer is to keep the seller indemnifi ed against all liability for proceedings are to notices and proceedings under that Act. the Transferring Employees after completion. G24.2 Where practicable, without exposing the seller to liability or penalty, the seller must not without the written consent of the buyer (which G21. Environmental the buyer must not unreasonably withhold or delay) serve or G21.1 This condition G21 only applies where the special conditions so respond to any notice or begin or continue any proceedings. provide. G24.3 If the seller receives a notice the seller must send a copy to the G21.2 The seller has made available such reports as the seller has as to buyer within fi ve business days and act as the buyer reasonably the environmental condition of the lot and has given the buyer the directs in relation to it. opportunity to carry out investigations (whether or not the buyer G24.4 Following completion the buyer must: has read those reports or carried out any investigation) and the (a) with the co-operation of the seller take immediate steps to buyer admits that the price takes into account the environmental substitute itself as a party to any proceedings; condition of the lot. (b) use all reasonable endeavours to conclude any proceedings G21.3 The buyer agrees to indemnify the seller in respect of all liability for or negotiations for the renewal of the tenancy and the or resulting from the environmental condition of the lot. determination of any interim rent as soon as reasonably practicable at the best rent or rents reasonably obtainable; and G22. Service charge (c) if any increased rent is recovered from the tenant (whether as G22.1 This condition G22 applies where the lot is sold subject to interim rent or under the renewed tenancy) account to the seller tenancies that include service charge provisions. for the part of that increase that relates to the seller’s period G22.2 No apportionment is to be made at completion in respect of of ownership of the lot within fi ve business days of receipt of service charges. cleared funds. G22.3 Within two months after completion the seller must provide to the G24.5 The seller and the buyer are to bear their own costs in relation to buyer a detailed service charge account for the service charge year the renewal of the tenancy and any proceedings relating to this. current on completion showing: (a) service charge expenditure attributable to each tenancy; G25. Warranties (b) payments on account of service charge received from each G25.1 Available warranties are listed in the special conditions. tenant; G25.2 Where a warranty is assignable the seller must: (c) any amounts due from a tenant that have not been received; (a) on completion assign it to the buyer and give notice of (d) any service charge expenditure that is not attributable to any assignment to the person who gave the warranty; and tenancy and is for that reason irrecoverable. (b) apply for (and the seller and the buyer must use all reasonable G22.4 In respect of each tenancy, if the service charge account shows endeavours to obtain) any consent to assign that is required. that: If consent has not been obtained by completion the warranty (a) payments on account (whether received or still then due from must be assigned within fi vebusiness days after the consent a tenant) exceed attributable service charge expenditure, the has been obtained. seller must pay to the buyer an amount equal to the excess G25.3 If a warranty is not assignable the seller must after completion: when it provides the service charge account; (a) hold the warranty on trust for the buyer; and (b) attributable service charge expenditure exceeds payments on (b) at the buyer’s cost comply with such of the lawful instructions of account (whether those payments have been received or are the buyer in relation to the warranty as do not place the seller in still then due), the buyer must use all reasonable endeavours to breach of its terms or expose the seller to any liability or penalty. recover the shortfall from the tenant at the next service charge reconciliation date and pay the amount so recovered to the G26. No assignment seller within fi vebusiness days of receipt in cleared funds; The buyer must not assign, mortgage or otherwise transfer or but in respect of payments on account that are still due from a part with the whole or any part of the buyer’s interest under this tenant condition G11 (arrears) applies. contract. G22.5 In respect of service charge expenditure that is not attributable to any tenancy the seller must pay the expenditure incurred in G27. Registration at the Land Registry respect of the period before actual completion date and the buyer G27.1 This condition G27.1 applies where the lot is leasehold and its sale must pay the expenditure incurred in respect of the period after either triggers fi rst registration or is a registrable disposition. The actual completion date. Any necessary monetary adjustment is buyer must at its own expense and as soon as practicable: to be made within fi vebusiness days of the seller providing the (a) procure that it becomes registered at Land Registry as proprietor service charge account to the buyer. of the lot; G22.6 If the seller holds any reserve or sinking fund on account of future (b) procure that all rights granted and reserved by the lease under service charge expenditure or a depreciation fund: which the lot is held are properly noted against the affected (a) the seller must pay it (including any interest earned on it) to the titles; and buyer on completion; and (c) provide the seller with an offi cial copy of the register relating to (b) the buyer must covenant with the seller to hold it in accordance such lease showing itself registered as proprietor. with the terms of the tenancies and to indemnify the seller if it G27.2 This condition G27.2 applies where the lot comprises part of a does not do so. registered title. The buyer must at its own expense and as soon as practicable: G23. Rent reviews (a) apply for registration of the transfer; G23.1 This condition G23 applies where the lot is sold subject to a (b) provide the seller with an offi cial copy and title plan for the tenancy under which a rent review due on or before the actual buyer’s new title; and completion date has not been agreed or determined. (c) join in any representations the seller may properly make to Land G23.2 The seller may continue negotiations or rent review proceedings Registry relating to the application. up to the actual completion date but may not agree the level of the revised rent or commence rent review proceedings without the G28. Notices and other communications written consent of the buyer, such consent not to be unreasonably G28.1 All communications, including notices, must be in writing. withheld or delayed. Communication to or by the seller or the buyer may be given to or G23.3 Following completion the buyer must complete rent review by their conveyancers. negotiations or proceedings as soon as reasonably practicable G28.2 A communication may be relied on if: but may not agree the level of the revised rent without the written (a) delivered by hand; or consent of the seller, such consent not to be unreasonably (b) made electronically and personally acknowledged (automatic withheld or delayed. acknowledgement does not count); or G23.4 The seller must promptly: (c) there is proof that it was sent to the address of the person to (a) give to the buyer full details of all rent review negotiations and whom it is to be given (as specifi ed in thesale memorandum) proceedings, including copies of all correspondence and other by a postal service that offers normally to deliver mail the next papers; and following business day. (b) use all reasonable endeavours to substitute the buyer for the G28.3 A communication is to be treated as received: seller in any rent review proceedings. (a) when delivered, if delivered by hand; or G23.5 The seller and the buyer are to keep each other informed of the (b) when personally acknowledged, if made electronically; but progress of the rent review and have regard to any proposals the if delivered or made after 1700 hours on a business day other makes in relation to it. a communication is to be treated as received on the next G23.6 When the rent review has been agreed or determined the buyer business day. must account to the seller for any increased rent and interest G28.4 A communication sent by a postal service that offers normally to recovered from the tenant that relates to the seller’s period of deliver mail the next following business day will be treated as ownership within fi vebusiness days of receipt of cleared funds. received on the second business day after it has been posted. G23.7 If a rent review is agreed or determined before completion but the increased rent and any interest recoverable from the tenant has not G29. Contracts (Rights of Third Parties) Act 1999 been received by completion the increased rent and any interest No one is intended to have any benefi t under thecontract pursuant recoverable is to be treated as arrears. to the Contract (Rights of Third Parties) Act 1999.
26 Extra-Common Auction Conditions
Extra General Conditions of Sale Applicable to All Lots • If a cheque for all or part of the deposit is not cleared on fi rst presentation, theauctioneers are under no obligation to re- present the cheque, but should they do so (at their sole discretion) then the buyer will pay to the auctioneers a fee of £100 plus VAT, such payment being due whether or not the cheque ultimately clears. • Vacant possession of the lot shall be given to the buyer on completion except where stated in the special conditions. The buyer accepts that vacant possession of the whole or any part of the lot offered with vacant possession notwithstanding that: • There may be furniture fi ttings or effects remaining at thelot in which case the buyer shall not be entitled to require the removal of such items or delay completion on the grounds that the existence of such items does not constitute vacant possession, and: • That all or part of the lot whether comprising a house, part of a house, fl at or fl ats may not legally be used for immediate residential occupation. • The buyer will pay to the auctioneers a Buyers Administration Fee of £500 incl. VAT. If for any reason this sum is not paid on exchange of contracts then it will be payable to the seller’s solicitors on completion in addition to the purchase price. • Any description of the lot which includes reference to its use does not imply or warrant that it may be legally used for that purpose. • If the buyer is unable to provide adequate means of identifi cation in the auction room either for himself or for the contractual buyer (if this is different) the auctioneers may retain the sale memorandum signed by or on behalf of the seller until such identifi cation is produced and in the absence of its production may (as agents for theseller ) treat this as the buyers repudiation of the contract and re-offer the lot for sale. • The auctioneers shall be under no fi nancial liability in respect of any matters arising out of the auction or the particulars of any lot or any of the conditions relating to any lot. No claims shall be made against the auctioneers by the buyer in respect of any loss or damage or claim actually or allegedly suffered by or made against the buyer by reason of the buyer entering into the contract. • The auctioneers have undertaken their best endeavours to satisfy themselves as to the bona fi des of the seller and that he is the benefi cial owner but we give no warranty.
• The Deposit • Must be paid to the auctioneers by cheque or bankers draft drawn on a UK clearing bank or building society (or by such other means of payment as they may accept) • Is to be held as stakeholder save to the extent of the auctioneers’ fees and expenses which part of the deposit shall be held as agents for the seller
• Buyer’s Administration Charge Should your bid be successful you will pay the auctioneers an administration charge of £500 incl. VAT upon exchange of contracts to the Auctioneer.
• Extra Auction Conduct Conditions Despite any special condition to the contrary the minimum deposit we accept is £3,000 (or the total price, if less). A special condition may, however, require a higher minimum deposit.
27 INDEX OF SELLER’S SOLICITORS
1 Azhar Hussain, 46 Woodgrange Road, London E7 0QH 0208 534 2400 2 Sabeers Stone Greene Solicitors 130a Uxbridge Road, Shepherds Bush, London W12 8AA 0208 740 7007 3 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 4 TBC 5 TBC 6 TBC 7 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 8 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 9 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 10 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 11 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 12 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 13 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 14 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 15 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 16 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 17 Ravinder Dhunna, 419 Bearwood Road, Smethwick, West Midlands B66 4DF 18 Fida Chaudhary, Makka Solicitors Ltd, 44 Upper Tooting Road, London SW17 7PD 0208 767 9090 19 TBC 20 TBC 21 TBC 22 TBC 23 TBC 24 TBC 25 Mark Hidveghy, 3rd Floor, Dencora Court, Tylers Avenue, Southend on sea, Essex SS1 2BB 01702 332311 26 Mike Bradley, 92 Saint Peters Street, Derby DE1 1SR 01332292204 27 Mike Bradley, 92 Saint Peters Street, Derby DE1 1SR 01332292204 28 Mark Hidveghy, 3rd Floor, Dencora Court, Tylers Avenue, Southend on sea, Essex SS1 2BB 01702 332311 29 TBC 30 TBC 31 TBC 32 TBC 33 TBC
28 EPCs
LOT NO. ADDRESS EPC RATING 1 22 Pretoria Road, Ilford, London IG1 2HW D 2 28 Houseman Gardens, Nottingham NG2 2HX D 3 35A Garratts Lane, Cradley Heath B64 5RH D 4 185a Town Road, Edmonton, London N9 0HL TBC 5 Lower Ground, 29–31 Woodville Road, Croydon CR7 8LH C 6 26 Pritchard Street, Burnley, Lancashire BB11 4JY B 7 39 Sapcote Trading Centre, Cradley Heath B64 5QX D 8 39a Sapcote Trading Centre, Cradley Heath B64 5QX D 9 40 Sapcote Trading Centre, Cradley Heath B64 5QX D 10 41 Sapcote Trading Centre, Cradley Heath B64 5QX Withdrawn 11 42 Sapcote Trading Centre, Cradley Heath B64 5QX Withdrawn 12 47a Sapcote Trading Centre, Cradley Heath B64 5QX D 13 47b Sapcote Trading Centre, Cradley Heath B64 5QX D 14 47c Sapcote Trading Centre, Cradley Heath B64 5QX D 15 48 Sapcote Trading Centre, Cradley Heath B64 5QX D 16 51 Sapcote Trading Centre, Cradley Heath B64 5QX D 17 66 Sapcote Trading Centre, Cradley Heath B64 5QX D 18 58b Boundary Road, Upton Park, London E13 9QG D 19 8 Conway Avenue, Nottingham NG4 2PY TBC 20 61 High Street, Dumbarton G82 1LS Withdrawn 21 28 – 32 The Elms, Dingle, Liverpool L8 3SS TBC 22 Building to the Rear of 73 Broughton Road, Thornton Heath CR7 6AG TBC 23 Unit 1, 78–80 Dalton Road, Barrow-in-Furness LA14 1JH TBC 24 Units 7 & 8, 54 & 55 Prince Regent Street, Stockton-On-Tees TS18 1DF TBC 25 85a Burke Street, Scunthorpe DN15 6DF C 26 Land adjoining 89 Sedgwick Street, Jacksdale NG16 5JY N/A 27 89 Sedgwick Street, Jacksdale NG16 5JY D 28 148 Victoria Road, Scarborough YO11 1SL C 29 19 Lynett Road, Dagenham RM8 1RJ D 30 24a Old Southend Road, Southend-on-Sea SS1 2HA TBC 31 6 Richmond Terrace, Liverpool L6 5EA TBC 32 71a – 75a Borough Road, Wallasey CH44 6NB TBC 33 57 Grosvenor Road, Luton LU3 2EG TBC
29 Registration Form for Proxy, Telephone or Internet Bidding
MS Auctions will have no liability or responsibility • You being unobtainable by telephone or whatsoever towards You in the event of Your becoming disconnected during the course of • Unclear instructions bidding by telephone or via the internet • Error, lack of clarity or confusion regarding the • Any other factor beyond MS Auctions’ control. Registration Form or the deposit In any such case, neither the Auctioneer nor any • Any change in the date, time and/or venue for the member or employee of MS Auctions shall be held auction responsible or liable for any loss, cost, claim, demand or damage that You may incur as a result. • Interruption or suspension of telephone bidding services
Section One – Registration details Section Two – Details for completion of sale Lot Number(s) memorandum Full name, address and telephone number of the Buyer (ie the person, fi rm or company who is intended to be the owner of the Property. This name will be entered in the Sale Memorandum. Changes may not be made without the seller’s prior consent. References to “nominees”, “associates” or similar are unacceptable.)
Please select a method of bidding Name ......
Proxy Telephone Internet Address ......
Validity: once we receive an authority to bid form from you ...... it is binding for the duration of the auction day. This is to enable the possibility of the seller agreeing to sell after the ...... Postcode ...... auction when the bidding has not reached the reserve in the Tel No ...... room. Fax No ...... Date of Auction ...... E-mail ...... Address of Lot ...... Buyer’s Solicitor’s name, address and telephone number ...... Name of Firm ...... Postcode ...... Address ...... Maximum Bid Price exclusive of VAT ...... £ ...... (in words) ...... Postcode ......
Bidder Contact Details For the Attention of ......
Full Name ...... Tel No ......
Address ...... Fax No ......
...... I acknowledge and agree that MS Auctions may take photocopies of my identifi cation documents and that such ...... Postcode ...... copies may be retained for MS Auctions records in order to comply with their bidder identifi cation procedures and in Business Tel No ...... accordance with RICS Best Practice guidelines on bidder identity Mobile ...... verifi cation. I instruct and authorise MS Auctions to either bid on my behalf Home Tel No ...... in accordance with the Terms and Conditions and I understand that should my bid be successful the offer will be binding upon Email ...... me and that I will be legally bound jointly and separately with the (required for internet bidding) intended Buyer (where the Buyer is different) by the applicable Conditions of Sale (as defi ned in the Terms and Conditions) Identifi cation – Please supply a copy of your driving licence or or MS Auctions will bid on my behalf if required, taking my passport by way of photo identifi cation AND a copy of a recent instructions in this respect on the telephone when the relevant utility bill or bank statement as proof of Your current address. Lot is being sold at the Auction. I authorise you to record such I enclose a cheque payable to MS Auctions (unless otherwise bidding and instructions in order to avoid any doubts or disputes. directed) for 10% deposit (subject to a minimum of £3,000) Signature of the Bidder, for and on behalf of the Bidder and (if (NB. in the case of telephone or internet bidding a pre-signed, different) the intended Buyer: blank cheque may be submitted – please see clause 2 of Terms and Conditions) (cheques will not be banked unless the bid is successful) ......
£ ...... (enclosed within) Name and address of signatory in block capitals
An administration charge is payable by the buyer to the ...... Auctioneers upon the fall of the hammer as follows: ......
...... £500 incl. VAT Date of Signing ......
30 Memorandum of Sale
Date of Auction ...... Lot ......
Property Address ......
......
......
...... Postcode ......
SELLER ......
Purchase Price £ ......
Deposit (minimum £3,000) £ ......
Balance £ ......
Exchange Date Dated this ...... day of ...... 2015
Completion Date ...... day of ...... 2015
The Buyer(s) Full names ......
Address ......
......
......
...... Postcode ......
Telephone Numbers: Work ...... Home ...... Mobile ......
THE BUYER’S Full Names ...... AGENT
Capacity ......
Address ......
......
...... Postcode ......
Tel ......
SOLICITOR/ Firm ...... CONVEYANCER
Address ......
......
...... Postcode ......
Person Dealing ...... Tel ......
Declarations I/We the above named Buyer(s) hereby acknowledge that I/we have today purchased the property described above and in the attached particulars and have paid to the Auctioneers the above mentioned deposit in part payment of the above mentioned purchase price. I/we confi rm that the above mentioned buyer’s conveyancer is the person duly authorised to accept notices on behalf of the buyer(s) for the purposes of the General and Special Conditions. I/we acknowledge my/our agreement to pay the remainder of the purchase price and to complete the purchase in accordance with the annexed General and Special Conditions of Sale and any relevant entry on the Addendum. It is further acknowledged and warranted that I as the person who bid for the property have signed the Memorandum. If not the buyer(s) named above have authority to act on behalf of the buyer(s). I have read, understand and agree to the page at the beginning of this catalogue headed ‘Your guide to buying at auction’ and the section entitled ‘Auction Conditions’ printed at the rear. We, as agents for the seller, hereby confi rm the sale and acknowledge receipt of the above mentioned deposit in accordance with the General and Special Conditions of Sale applicable and any relevant entry on the Addendum.
Signed by the Buyer or on his behalf ......
Signed by and on behalf of the Auctioneers as agents for the Vendors ......
31 Auction Bidder’s Registration Form
This form is NOT the contract Radisson Blu Portman Hotel London, 22 Portman Square, London W1H 7BG. Wednesday 1st July 2015 12 noon Please complete the details below and return this sheet to the Registration Desk where you will be provided with a Bidding Number.
BUYER’S DETAILS BIDDER’S NO.
Name(s) ......
Address ......
......
Postcode ...... Tel ......
Contact Name ...... Email: ......
BUYER’S SOLICITOR’S DETAILS
Name of Company ......
Address ......
......
Postcode ...... Tel ......
Contact Name ...... Email: ......
IF YOU ARE BIDDING ON BEHALF OF SOMEONE ELSE PLEASE COMPLETE THE FOLLOWING BOX: (PROOF OF AUTHORISATION WILL NORMALLY BE REQUIRED). INTENDED BUYER’S DETAILS
Name ...... Contact ......
Address ......
......
Postcode ...... Tel ......
INFORMATION: Are You? Did you respond to: Estates Gazette Direct Mail Marketing Owner Occupier Investor Builder Local Press Web Site Advertisement Developer Other (please state) Sale Board Other (please state)
HOW ARE YOU INTENDING TO PAY YOUR DEPOSIT? PERSONAL CHEQUE COMPANY CHEQUE BUILDING SOCIETY CHEQUE BANKER’S DRAFT MAESTRO/DELTA
NB: If paying by Maestro/Delta your bank needs to be informed beforehand to avoid delay.
PLEASE DO NOT FORGET TO PROVIDE THE MEANS TO ALSO PAY THE ADMINISTRATION CHARGE, EITHER BY SEPARATE CHEQUE OR BY ADDING THE CHARGE TO THE DEPOSIT. List A – Evidence of identity – including photograph • Valid passport • A valid identity card (HM Forces, Police Warrant Card, • New style full driving licence with photograph Prison Offi cer, Government/local authority issued)
List B – Evidence of residence • Inland Revenue tax notifi cation, self assessment statement or • An original utility bill less than three months old tax demand • An original council rent book showing rent paid for the last • An original council tax bill less than three months old three months • An original mortgage statement for the mortgage accounting • An original statement for either current bank, building society or year just ended credit card account which must be less than three months old • Household insurance certifi cate
PLEASE TICK THIS BOX IF YOU WOULD NOT LIKE TO BE PUT ONTO OUR AUCTION DATABASE PLEASE INDICATE WHICH OF OUR PROPERTIES YOU ARE INTERESTED IN TODAY BY LOT NUMBER FOR OFFICIAL USE ONLY
Means of Identi cation LIST A Valid Passport Photocard Driving Licence LIST B Credit Card/Bank Statement Utility Bill
Other (please state) ...... 32
2015 Auction Dates
1st July 2015 5th October 2015 1st December 2015
MS Auctions Residential & Commercial Property Auctioneers Phone: +44 (0) 20 8998 8464 +44 (0) 20 8997 5878 Email: [email protected] Web: www.msauctions.co.uk
We are now taking entries for our next auction taking place on 5th October 2015