LONDON BrIDGe, LONDON se1 9DD - Network Auctions › catalogue › flipbook-catalogue... ·...

L O c A L e X P e r T I s e | N A T I O N A L c O v e r A G e

P R O P E R T Y A U C T I O N C A T A L O G U E

WeDNesDAY 12 sePTemBer 2012 at 1:00 pm

GLAZIers HALL LONDON BrIDGe, LONDON se1 9DD

w w w . n e t w o r k a u c t i o n s . c o . u k

AUCTIONEERS LETTERGUY CHARRISON FNAVA FNAEA FRSA

recent information provided by auction data specialists eI Group shows that the number of residential lots being taken to auction has increased in 2012 although July results were down on 2011.

I am delighted to report that Network Auctions’ results from July “bucked the national trend” and we saw a 78% success rate, up from 67% in 2011. To date, across our four auctions held so far in 2012 we have achieved an impressive sale rate of 82%, a clear sign that our mix of local expertise and marketing coupled with national promotion and auction is generating great results.

september’s auction has an interesting selection of lots and seller clients include lenders in possession, local authorities, executors, private sellers, PLc’s and asset managers.

One interesting lot we are promoting in this catalogue is going to our scottish auction in Glasgow on september 19th. It comprises a farmstead with 8.3 acres of land on the beautiful island of egilsay in the Orkneys. If

you fancy getting away from it all, the guide price is between £40-50,000.

It is our expertise and our partner agent’s local knowledge that creates the opportunity for clients to enjoy a successful sale. This combination of national, local and regional marketing, coupled with good quality advice on guide prices and reserves, makes for a positive outcome.

The option of being able to offer an auction sale is hugely valuable to our partner agents, many of whom are securing instructions to sell property that would otherwise have gone elsewhere.

social media is an important marketing channel for us and our clients and you can fi nd us on Facebook as Network Auctions and on Twitter as @NetworkAuctions. Over 1500 individuals and businesses follow us on a daily basis.

All of our auctions are video streamed live to our website and the results tweeted directly from the auction room. 340 people watched our July auction live via the video service.

To keep up to date about our auctions, visit our website at www.networkauctions.co.uk. You can elect to receive alerts on your mobile or by email. Auction catalogues and legal packs are downloadable from the site.

If you are an estate agent or property professional and you would like to fi nd out about becoming a Network Auctions partner, we would love to talk with you. contact Director mark Limebear on 020 7871 0420 or email him at [email protected]

Here’s to another successful auction.

Guy Charrison FNAVA FNAEA FRSAAuctioneer and Director of Network AuctionsPS. I am sure that, like me, you have enjoyed the Olympics and Paralympics. As a wonderful piece of trivia, the Glaziers Hall where we hold our auctions became the House of Switzerland during the Olympics with a wide range of events and visits from their medal winners including tennis superstar Roger Federer.

situated between the river Thames and London’s cultural southbank and Borough market, Glaziers Hall offers unrivalled views over the city and is the perfect central venue for our national auction sales.

DirectionsGlaziers Hall is located on the South Bank alongside London Bridge and near Southwark Cathedral.

Via Tooley StreetPass under the tunnel into montague close. The entrance is on your right hand side underneath the bronze/brown awning.

Via Borough High StreetTurn into Bedale street, then turn right onto cathedral street. continue past the cathedral then turn right again onto montague close. The entrance is on your left hand side underneath the bronze/brown awning.

LONDON BrIDGe TuBe / Bus sTATION Approx 2 minutes walk.

www.glaziershall.co.uk

VENUE LOCATIONGLAZIERS HALL, 9 MONTAGUE CLOSE, LONDON BRIDGE, LONDON SE1 9DD

Welcome to the latest Network Auctions catalogue for the auction that will take place at our national auction room at the Glaziers Hall, London on september 12th.

GLAZIERS HALL

http://maps.google.co.uk/maps?client=safari&rls=en&q=se19dd&oe=UTF-8&redir_esc=&um=1&ie=UTF-8&sa=X&ei=LwU1UOGbIsfU0QWzwIGwBg&ved=0CAsQ_AUoAg

1


ORDER OF SALE wEDnESDAy 12 SEPTEMBER 2012

Guide prices are subject to change. Please refer to www.networkauctions.co.uk for up-to-date information prior to auction.

LOT ADDRESS GUIDE PRICE 1 Ground and first floor flats, 204 Brownhill Road, Catford, London SE6 1AT £240,000

2 9 Beech Grove, Linslade, Leighton Buzzard, Bedfordshire LU7 2RY £99,000+

3 5 Regents Court, 31 Sutton Road, St. Albans, Hertfordshire AL1 5JQ £105,000+

4 The Fruiterers Arms, Eynsford Road, Crockenhill, Swanley, Kent BR8 8JS £225,000+

5 The Roundhead, Wensley Road, Reading, Berkshire RG1 6DJ £175,000+

6 Flat 2, 107 Fidlas Road, Llanishen, Cardiff CF14 0LY £75,000

7 59 Spa Road, Hockley, Essex SS5 4AR £100,000+

8 21b Valkyrie Road, Westcliff-On-Sea, Essex SS0 8BY £65,000+

9 Bar XLR, 79 East Street, Epsom, Surrey KT17 1DT £375,000+

10 The Swan Inn, High Street, Sturry, Canterbury, Kent CT2 0BD £250,000+

11 11 St Marys Road, Watford, Hertfordshire WD18 0EE £185,000+

12 Perry Hill, 78-80 Perry Hill, Bellingham Park, London SE6 4EY £600,000+

13 The Wellington Arms, 4 Andover Road, Newbury, Berkshire RG14 6LR £150,000+

14 45 Batchwood View, St. Albans, Hertfordshire AL3 5TB £385,000+

15 Bell Hotel, Church Street, Old Town, Bexhill On Sea, East Sussex TN40 2HE £350,000+

16 57 Shakespeare Crescent, Eccles, Manchester M30 0PB £52,000+

17 The Star, 16 High Street, Lydd, Kent TN29 9EB £175,000+

18 Site to the rear of 116-120 Mulgrave Road and Heather Gardens, £10,000+ Sutton, Surrey SM2 6JR

19 Site at Little Whyte, Ramsey, Huntingdon, Cambridgeshire PE26 1GP £110,000+

20 Garages and land to the rear 190 Bowes Road, New Southgate, London N11 2JH £75,000+

21 Woodman, 181 Lee High Road, Lewisham, London SE13 5PQ £400,000+

22 Flat 10 Bramis House, Main Road, Biggin Hill, Westerham, Kent TN16 3DX £126,500+

23 Plot 1, 12 The Avenue, Welwyn, Hertfordshire AL6 0PP £199,000+

24 Kings Arms, 593 Bath Road, Longford, Heathrow, Middlesex UB7 0EG £350,000+

25 Garages and land at London Road, Holyhead, Gwynedd LL65 2NU £25,000+

26 Two garages to the side of 72 and 72a Park Road, Enfield, £18,000 - £20,000 Middlesex EN3 6LP

27 163-165 Holborn Street, Rochdale, Lancashire OL11 4QE £195,000+

28 Land lying between Ely Terrace and South Tanfield, Kyo Lane, £4,000 - £6,000 Stanley, County Durham DH9 7LE

2

IMPORTAnT nOTES FOR AUCTIOn BIDDERS

These notes and the conditions of sale of each lot are available at the auctioneers office. Prospective buyers and their legal advisors should read them carefully. Both the auctioneers and their vendor clients have taken all reasonable steps to ensure that the properties in this catalogue are fairly described and that every opportunity has been given to enable prospective buyers to make the necessary enquiries and investigations prior to the sale. Details of the vendor’s solicitors are available on request.

Deposit:At auction the fall of the gavel creates a binding contract and we, as auctioneers, immediately require a deposit of 10% of the purchase price. This must be by way of cheque or bankers drafts. PAYMENT BY CASH OR CREDIT/DEBIT CARD CANNOT BE ACCEPTED. If you wish to have a survey of any of the lots, please refer your surveyor to us to arrange access. You may bid through a proxy bid. To do so, please complete the proxy form within the catalogue and pay a 10% deposit which will be banked if you are the successful bidder.

Prior Sales:Prospective buyers should contact us prior to the auction to confirm whether a lot has been sold or withdrawn. Network Auctions and their clients shall not be responsible for any losses or abortive costs incurred by prospective purchasers against lots that are withdrawn or sold prior to the auction.

Price Guides:The price guides listed must not be relied upon by bidders as a valuation or assessment of value of the properties. They are intended to provide bidders with an indication of the region at which the reserve may be set at the time of going to press. These guide prices may be subject to variation and interested parties are advised to make regular checks for variations. Prospective bidders should also be aware that eventual sale prices may be above or below the guide levels dependant upon competition, and should therefore not presume the guide to be indicative of the final expected sale price.

Particulars of Sale:Prospective buyers should check the particulars relating to the lots in this catalogue and ensure that they are satisfied with the accuracy of all measurements, areas, details, leases and other matters referred to in the particulars of the lot or the conditions of the sale and all other matters subject to which the properties are sold or have the benefit of. Prospective buyers should check that any contents, fixtures or fittings described as included in the sale are indeed the property of the vendor. This should be done by inspecting the property and by making the necessary enquiries with Network auctions, the vendor and the vendors’ solicitors. Prospective buyers should make all necessary searches and enquiries of appropriate bodies including local authorities. All measurements and areas referred to in the particulars are approximate. Prospective buyers will be considered to have inspected the relevant property and have made all necessary and appropriate enquiries and searches.

Sale of Property:Buyers please note that a legally enforceable contract of sale of the relevant property on the terms set out in these notices and the general and special conditions is created as soon as it has been “knocked down” to the buyer by the auctioneer.

Administration Charge:Administration charge of £495 +VAT applies to each lot. This is paid at the contracts desk on the day of the auction. In the event of non-payment of the administration

charge, a deduction of £495 +VAT will be made from the amount received before the balance is applied to the deposit.

Rents, Information Regarding Tenants & Price Estimates:Any estimates provided by Network Auctions regarding the price at which a property may be sold or which a prospective buyer should bid for such a property cannot be accepted by a buyer as a valuation. Any estimates or suggestions given by Network Auctions to prospective buyers regarding the current or future rental price for the whole or part of the property must not be relied upon as valuation but estimates for guidance purpose only.

Conditions of Sale & Amendments / Additions to the Conditions of Sale:Prospective buyers must note that there may be additions or amendments to the particulars or conditions of sale. An addendum relating to these amendments will be available at the action. Addendums will be attached to the memorandum of sale and form part of the contract of sale. The addendum may have to be signed on behalf of the buyer. Buyers must check with the auctioneer when they arrive at the auction as to whether there are any additions or amendments to the conditions of sale referred to in the addendum relating to the lot they intend to bid for.

Internet Viewing - Additional Auction Service - Internet Viewing

The Essential Information Group Ltd Tel: 0870 112 30 40

Visit www.eigroup.co.uk and select ‘Online Auctions’.Choose the auction and then ‘Viewing Gallery’.You will then see details of the lot being offered and canwatch the bidding as it happens.It is not possible to bid using this service.

NA_EiG Internet Viewing_NA_EiG Internet Viewing 31/05/2011 17:09 Page 1

3


MOnEy LAUnDERInG

PRE-AUCTIOn OFFERS

CATALOGUE MAILInG LIST

Important NoticeMoney Laundering Regulations 2003 came into effect on the 1st March 2004.

As a requirement under this legislation, any person buying or bidding at auction, MUST produce documentation to confirm their name and residential address. Please find below a schedule of acceptable documentation.

You must provide one document from each list.

Please note that a driving licence can be used as evidence for one or the other BUT NOT BOTH.

Identity Documents

• Current signed Passport

• Current full UK Photo Card Driving Licence

• Current full UK Driving Licence (old version) (Provisional driving licence will not be accepted)

• Resident Permit issued by the Home Office to EU Nationals

• Inland Revenue Tax Notification

• Firearms Certificate

Evidence of Address

• Local Authority tax bill (current year)

• A utility bill issued within the last 3 months

• Current full UK Driving Licence (old version) (Provisional driving licence will not be accepted)

• Bank Building Society or Credit Union Statement

• Most recent original mortgage statement from a UK lender

Offers must be submitted to Network Auctions in writing and will only considered if the lot has been viewed and the legal documentation inspected. Pre-Auction bids are on the basis of immediate exchange of Auction Contracts upon acceptance by the seller. The Buyer is required to provide a 10% deposit and administration fee at the point of exchange. All pre-auction offers will be assumed to be your best and final offer and no guarantee can be given that you will be invited to increase your bid in the event of an alternative acceptable offer being received prior to exchange.

Printed CataloguesPrinted catalogues are available for each auction. We charge £10 plus VAT for a 12 month subscription, catalogues are sent by first class post.

To join the mailing list please complete the attached form and return it to us with your cheque for £12.00 made payable to network Auctions Ltd.

EmailEmail subscribers receive every catalogue, notification of changes to price guides and details of properties that may be available prior to or outside auction. This service is free of charge, register at www.networkauctions.co.uk

WebsiteA PDF of the catalogue can be downloaded in full from the Network Auctions website approximately 3 weeks prior to the auction. This service is free of charge.

Title (Mr / Mrs / Ms) .......................................................................................................

First name .................................................................................................................

Surname .....................................................................................................................

Address .....................................................................................................................

.....................................................................................................................................

Tel no. ........................................................................................................................

Mobile ........................................................................................................................

133 The Parade, Watford, Hertfordshire WD17 1NA

4

01

1 x 2 bedroom and 1 x 3 bedroom maisonettes available with vacant possession.Description/Location: Situated in a popular residential street, Hither Green station 0.6 miles. Both flats are presented in habitable order and have a potential rental value of £875 pcm each.

Accommodation:Ground Floor: Hallway, living room, kitchen/dining room, 2 bedrooms, bathroom. First Floor: Hallway, living room and kitchen, 3 bedrooms, bathroom. Outside: Large rear garden, off street parking to the front.

Tenure: Leasehold

To View:Please contact Network Auctions on 020 7871 0420.

Local Authority: London Borough of Lewisham Telephone: 020 8314 6000 | www.lewisham.gov.uk

LOT GUIDE PRICE:£240,000Estimated Rental Value: £21,000 pa

LOnDOnGROUnD AnD FIRST FLOOR FLATS, 204 BROwnhILL ROAD, CATFORD SE6 1AT

CO

NTE

NTS

5


LInSLADE9 BEECh GROVE, LEIGhTOn BUzzARD, BEDFORDShIRE LU7 2Ry

GUIDE PRICE:£99,000+Estimated Rental Value: £7,500 pa02

2 bedroom first floor maisonette with private garden, vacant.Description/Location: Situated in a cul-de-sac. A good size 2 double bedroom maisonette with its own private garden, UPVC double glazed windows and gas heating to radiators. The property is well placed for local amenities. Leighton Buzzard train station 0.2 miles.

Accommodation:Ground Floor: Personal front door to hallway, staircase to first floor. First Floor: Hallway, lounge, kitchen, 2 double bedrooms, bathroom. Outside: Private garden.

Tenure: Leasehold – Lease 125 years from August 1982. Ground rent and service charge for period 1 July 2012 – 30 September 2012 was £46.32.

To View:Please contact Elliott Network Auctions on 020 7871 0420.

Local Authority: Central Bedfordshire Council Telephone: 0300 300 8301 | www.centralbedfordshire.gov.uk

LOT

ST. ALBAnS5 REGEnTS COURT, 31 SUTTOn ROAD, hERTFORDShIRE AL1 5JQ

GUIDE PRICE:£105,000+Current Rental Value: £8,100 pa03

A well presented first floor flat let on an AST.Description/Location: The flat forms part of a small courtyard development in a residential area close to local facilities. St. Albans City Station 0.7 miles. The property is let on an AST for 6 months from 23rd June 2012 at a rent of £675 pcm.

Accommodation:Ground Floor: Front door to entrance hall with staircase to first floor. First Floor: Landing, living room, kitchen, bedroom, bathroom.

Tenure: Leasehold – Lease 99 years from 25 March 2009.

To View:Please contact Elliott Network Auctions on 01923 240420.

Local Authority: St. Albans District Council Telephone: 01727 866100 | www.stalbans.gov.uk

LOT

CO

NTE

NTS

6

04

A freehold public house occupying a site of 0.37 acres with development potential, vacant.Description/Location: Situated in the village of Crockenhill approx 1.5 miles from Swanley and 4 miles from Orpington near junction 3 M25. The village has several local shops and a second public house.

Accommodation:Ground Floor: Open plan bar with servery, customer wcs, trade kitchen, living room. First Floor: 3 double bedrooms, bathroom. Outside: Forecourt seating, private garden to rear. Large side garden and car park.

Tenure: Freehold – vacant possession.


Local Authority: Sevenoaks District Council Telephone: 01732 227000 | www.sevenoaks.gov.uk

NB. VAT IS APPLICABLE TO THIS LOT

LOTGUIDE PRICE:£225,000+

SwAnLEyThE FRUITERERS ARMS, EynSFORD ROAD, CROCkEnhILL, kEnT BR8 8JS

CO

NTE

NTS

7


05

Freehold public house (5,160 sq ft) occupying a corner site of 0.23 acres, vacant.Description/Location: Situated at the junction of Wensley Road and Carsdale Close in an established residential location.

Accommodation:Ground Floor: Lounge bar, public bar, trade kitchen, function room, customer wcs. First Floor: Living room, kitchen, 3 bedrooms, bathroom. Basement Cellar: Cold storage. Outside: Forecourt parking, single garage, enclosed yard.



Local Authority: Reading Borough Council Telephone: 0118 937 3737 | www.reading.gov.uk



READInG ThE ROUnDhEAD, wEnSLEy ROAD, BERkShIRE RG1 6DJ

CO

NTE

NTS

8

CARDIFFFLAT 2, 107 FIDLAS ROAD, LLAnIShEn CF14 0Ly

GUIDE PRICE:£75,000Estimated Rental Value: £6,600 pa06

A spacious and well presented duplex flat, vacant.Description/Location: Situated in the popular Llanishen district and convenient for Cardiff High School, Llanishen Station 0.5 miles.

Accommodation:Ground Floor: Communal entrance. Stairs to first floor, First Floor: Front door to living room with stairs to second floor, kitchen, bathroom. Second Floor: Double bedroom Outside: Allocated parking space.

Tenure: Leasehold – vacant possession.


Local Authority: Cardiff Council Telephone: 029 2087 2000 | www.cardiff.gov.uk

LOT

CO

NTE

NTS

9


07

Freehold site with consent for demolition and replacement with a new commercial unit and a 2 bedroom flat, vacantDescription/Location: Situated in the town centre close to Hockley Station. Planning granted by Rochford District Council (planning ref 12/00073/FUL) for demolition of the existing cottage and the erection of a 2 storey building comprising a ground floor commercial unit and a 2 bedroom self contained flat above. Alternatively the cottage could be renovated.

Tenure: Freehold

To View:Please contact Tudor Network Auctions on 01707 346818

Local Authority: Rochford district council www.rochford.gov.uk | 01702 546 366


hOCkLEy59 SPA ROAD, ESSEx SS5 4AR

CO

NTE

NTS

10

08

For investment or occupation.Description/Location:Fully refurbished one double bedroom ground floor flat convenient for Westcliff mainline station. Well proportioned flat benefiting from direct access to own rear garden. Great Investment opportunity with potential annual rental return of £6,600.

Accommodation:Entrance hall, bathroom, bedroom, kitchen/diner and lounge. Outside: Own garden.

Tenure: Leasehold – Lease 99 Years from 2007

To View:Please contact Tudor Network Auctions on 01702 346818

Local Authority: Southend-on-Sea Borough Council Telephone: 01702 215000 | www.southend.gov.uk

LOT GUIDE PRICE:£65,000+Estimated Rental Value: £6,600 pa

wESTCLIFF-On-SEA21B VALkyRIE ROAD, ESSEx SS0 8By

CO

NTE

NTS

11


09

Freehold public house occupying a busy main road site, development potential, vacant.Description/Location: East Street is the main route into the town centre from the Ewell bypass, Epsom station 0.5 miles. The property provides good potential for existing and alternative commercial use with 3367 sq ft floor space across 3 floors.

Accommodation:Ground Floor: 1795 sq ft. Open plan trade area with bar/servery and customer wcs. First Floor: 970 sq ft. 4 rooms, commercial kitchen, bathroom. Cellar: 602 sq ft. Cold storage. Outside: Trade patio to the rear.



Local Authority: Epsom and Ewell Borough Council Telephone: 01372 732000 | www.epsom-ewell.gov.uk



EPSOM BAR xLR, 79 EAST STREET, SURREy kT17 1DT

CO

NTE

NTS

12

wATFORD11 ST MARyS ROAD, hERTFORDShIRE wD18 0EE

GUIDE PRICE:£185,000+ Estimated Rental Value: £10,800 pa

A freehold terraced house presented in good order, vacant.Description/Location: Situated in a no through road close to the town centre, Watford High Street station 0.3 miles.

Accommodation:Ground Floor: Entrance porch, hallway, spacious living room, modern kitchen and bathroom. First Floor: Landing, 2 double bedrooms, door from bedroom 2 to bedroom 3 (single). Outside: Gardens to the front and rear.


To View:Please contact Network Auctions on 01923 240420.

Local Authority: Watford Borough Council Telephone: 01923 226400 | www.watford.gov.uk

11LOT

CAnTERBURyThE SwAn Inn, hIGh STREET, STURRy, kEnT CT2 0BD

GUIDE PRICE:£250,000+10

A freehold public house occupying a site of 0.4 acres, vacant.Description/Location: Situated in the village of Sturry approx 3 miles north of Canterbury. Good potential for existing/alternative commercial use and development subject to planning.

Accommodation:Ground Floor: Large open plan bar and servery with steps down to games area, customer wcs. First Floor: Living room, kitchen/breakfast room, 3 double bedrooms, bathroom. Outside: Site of 0.4 acres including large rear garden and car park.



Local Authority: Canterbury City Council Telephone: 01227 862 000 | www.canterbury.gov.uk


LOT

CO

NTE

NTS

13


12

A substantial, detached public house occupying a prominent corner site of 0.4 acres, freehold, vacant.Description/Location: Situated at the junction of Perry Hill and Clarens Street with access to the rear via Helvetia Street, Catford station 0.6 miles. The property provides 5400 sq ft accommodation across 3 floors and the site provides potential for further development to the rear.

Accommodation:Ground Floor: Large open plan trade area with lounge and public bars, central servery, trade kitchen, customer wcs. First Floor: We have not inspected the first floor which provides residential accommodation. Cellar: Beer cellar and cold storage. Outside: Car park and seating to the front. Large beer garden to the rear.



Local Authority: London Borough of Lewisham Telephone: 0208 314 6000 | www.lewisham.gov.uk



LOnDOnPERRy hILL, 78-80 PERRy hILL, BELLInGhAM PARk, LOnDOn SE6 4Ey

CO

NTE

NTS

1414

AUC1650 A4 Case Study Ad - Elliotts.indd 1 8/1/2012 11:37:37 AM

Fast funding for property professionals

working in association with

INFORMATION GROUP

Essent al

fast funding for property professionals

Scott HendryNational Development Managermobile: 07778 150 845email: scott.hendry@auctionfi nance.co.uk

Michael StrattonCase Managermobile: 07702 718 153email: michael.stratton@auctionfi nance.co.uk

www.auctionfi nance.co.uk


0844 873 4217

15


13

A 2 storey public house with annex occupying a prominent site, development potential, vacant.Description/Location: Fronting Andover Road at the roundabout with Newtown Road, Newbury station 0.4 miles. Extensive trade areas, residential accommodation, an annex and outbuildings providing scope for conversion to alternative uses subject to planning.

Accommodation:Ground Floor: Spacious L shape bar with servery, store room, trade kitchen and customer toilets. First Floor: Living room, kitchen, bedroom, bathroom. Basement Cellar: Cold storage. Annex: Ground Floor: Store room. First Floor: Function room. Outside: Double garage, store, courtyard.

Tenure: Leasehold – Lease 429 years from 29 September 1768 (185 years unexpired).


Local Authority: West Berkshire Council Telephone: 01635 42400 | www.westberks.gov.uk



nEwBURyThE wELLInGTOn ARMS, 4 AnDOVER ROAD, BERkShIRE RG14 6LR

AUC1650 A4 Case Study Ad - Elliotts.indd 1 8/1/2012 11:37:37 AM

Fast funding for property professionals

working in association with

INFORMATION GROUP

Essent al

fast funding for property professionals

Scott HendryNational Development Managermobile: 07778 150 845email: scott.hendry@auctionfi nance.co.uk

Michael StrattonCase Managermobile: 07702 718 153email: michael.stratton@auctionfi nance.co.uk



0844 873 4217

CO

NTE

NTS

16

14

A detached bungalow requiring modernisation, development potential, vacant.Description/Location: Situated in a very popular residential area near to Gardenfields and St. Albans Girls School, St. Albans station 1 mile. The property is in good order although the decor and fixtures are dated, the windows and doors are double glazed. A certificate of lawfulness ref 5/2012/0885 dated 15 May 2012 was issued by St. Albans City Council for a rear extension and loft conversion creating a 4 bedroom/3 bathroom layout with 1500 sq ft of floorspace.

Accommodation:Ground Floor: Entrance hall, spacious living room with dining area, kitchen, conservatory, 3 double bedrooms, bathroom. Outside: Gardens to the front and rear, driveway leading to garage.

Tenure: Freehold – Vacant possession.

To View:Please contact Elliott Network Auctions on 01923 240420.

Local Authority: St. Albans City and District Council Telephone: 01727 866100 www.stalbans.gov.uk

LOTST. ALBAnS45 BATChwOOD VIEw, hERTFORDShIRE AL3 5TB

CO

NTE

NTS

17


GUIDE PRICE:£385,000+

CO

NTE

NTS

18

15

A substantial 3 storey freehold public house with vacant possession.Description/Location: Situated in a prominent corner position adjacent to the High Street. Approximately 3,900 sq ft floor space with great potential for existing and alternative commercial use or possible residential development subject to planning.

Accommodation:Arranged over 3 floors plus basement cellar. Ground floor trade areas arranged as a number of inter-connecting rooms. Residential accommodation across first and second floors. Outside: Large trade garden with brick retaining wall.



Local Authority: Rother District Council Telephone: 01424 787000 | www.rother.gov.uk



BExhILL On SEABELL hOTEL, ChURCh STREET, OLD TOwn, EAST SUSSEx Tn40 2hE

CO

NTE

NTS

19


MAnChESTER57 ShAkESPEARE CRESCEnT, ECCLES M30 0PB


BY ORDER OF CORPORATE CLIENTS

A large double fronted 3 bedroom house with cellar rooms and a converted garage. Requires refurbishment, vacant.Description/Location: An end terrace house with gardens and off street parking situated in a popular residential area, Patricroft station 0.3 miles.

Accommodation:Ground Floor: Hall, sitting room, dining room, kitchen/breakfast room, converted garage. Cellar: 2 rooms. First Floor: Landing, 3 bedrooms, bathroom. Outside: Gardens and driveway providing off street parking.

Tenure:Freehold – vacant possession.


Local Authority: Manchester County Council Telephone: 0161 234 5000 | www.manchester.gov.uk

LOT

Tel: 01923 690096or email: [email protected]

Watford: 21 Station Road, Watford, WD17 1HT Tel: 01923 202020

London: 85 Fleet Street, London, EC4Y 1AE

Matthew Arnold & Baldwin LLP is a limited liability partnership registered in England & Wales (registered number: OC343595) and regulated by the Solicitors Regulation Authority. A list of members of the LLP is open to inspection at the LLP’s registered office: 21 Station Road, Watford, WD17 1HT, United Kingdom.

The reassurance of expert support...Are you considering placing your property in auction, bidding on an auction property or have you just made a successful bid?

Matthew Arnold & Baldwin solicitors are specialists in auction property, ready to expertly handle every aspect of your auction sale or purchase.

With our experience, attention to detail and accessibility, we make the process easy for you.

Call Richard John now for a free estimate.

For the first time buyer, experienced mover, investor, or someone looking for complex property services we can help with:

• Auction property specialists

• Conveyancing

• Buy-to-let

• Property development

• Selling to developers on options

• Lease extensions

• Leasehold enfranchisement

• Restrictive covenant matters

• Adverse possession

• Overage agreements

• Deeds of grant easements

• Conditional contracts

London85 Fleet Street, London, EC4Y 1AETel: 020 7936 4600 Fax: 020 7842 3300 DX: 448 Chancery Lane

Watford21 Station Road, Watford, WD17 1HTTel: 01923 202020 Fax: 01923 215050 DX: 4508 Watford

For more information on our services and how we can help youplease visit us at: www.mablaw.co.uk

Matthew Arnold & Baldwin LLP is a limited liability partnership registered in England &Wales (registered number: OC343595) and regulated by the Solicitors Regulation Authority.A list of members of the LLP is open to inspection at the LLP’s registered office: 21 StationRoad, Watford, WD17 1HT, United Kingdom.

CO

NTE

NTS

20

17

A substantial, freehold public house with development potential, vacant.Description/Location: Situated in the town centre on Station Road with vehicle access to the rear via Eastern Road. Potential for existing and alternative commercial use or development subject to planning.

Accommodation:Ground Floor: Main bar, dining area (20 covers), bar/servery, trade kitchen, beer cellar. First Floor: Living room, 3 bedrooms, bathroom, wc. Outside: Garden and trade patio, car park, double garage.



Local Authority: Shepway District Council Telephone: 01303 853000 | www.shepwaydc.gov.uk



LyDD ThE STAR, 16 hIGh STREET, kEnT Tn29 9EB

CO

NTE

NTS

21


SUTTOnSITE TO ThE REAR OF 116-120 MULGRAVE ROAD AnD hEAThER GARDEnS, SURREy SM2 6JR


A freehold site of 0.16 acres, development potential, vacant.Description/Location: Situated in South Sutton with access via Heather Gardens, Cheam station 0.5 miles, West Sutton station 0.6 miles.

Tenure:

Freehold – Vacant possession

To View:

Please contact Network Auctions on 020 7871 0420.

Local Authority:

London Borough of SuttonTelephone: 020 8770 5000 | www.sutton.gov.uk

LOT

FOR IDENTIFICATION PURPOSES ONLY. TITLE PLAN TAKES PRIORITY.

w1 nETwORk AUCTIOnS SCOTLAnD In PARTnERShIP wITh nETwORk AUCTIOnS ARE OFFERInG A RARE AnD IDyLLIC OPPORTUnITy On ThE ISLAnD OF EGILSAy In ThE ORknEyS

GUIDE PRICE:£40,000 - £50,000

The island of Egilsay probably had its most dramatic historical moment in 1117 when St Magnus the martyr was murdered. Now the ruins of St Magnus church dominate the skyline of this island of just 2.5 square miles where your neighbours are more likely to be corncrakes than humans as the current population is around 30 people.

Reached via a daily ferry, the island offers an idyllic location as a permanent get away from the “rat race” or as a holiday island retreat.

Cott in the Parish of Ronsay is the location of a detached stone built cottage with an adjacent steading (farmstead), stone outbuildings and 8.3 acres of agricultural land.

The cottage is in good habitable order and comprises 3 bedrooms, living room, kitchen and bathroom. The steading is part derelict. The property is approached via a metalled access road from the main public road.

The property is feuhold (freehold) and is being sold with vacant possession at the next w1 network Auctions auction in Glasgow on 19th September.

Further information can be obtained from w1 network Auctions Scotland at www.w1networkauctionsscotland.co.uk on 0845 600 7668 or network Auctions at www.networkauctions.co.uk on 020 7871 0420

FOR SALE By AUCTIOn: 19th SEPTEMBER 2012Venue: The Recital Room, City hall, Candleriggs, Glasgow G1 1nQTel: 01738 623583www.w1auctions.co.uk

CO

NTE

NTS

22

hUnTInGDOnSITE AT LITTLE whyTE, RAMSEy, CAMBRIDGEShIRE PE26 1GP19

Freehold site with consent for the erection of 4 new houses.Description/Location: Well situated in the town centre, Whittlesea Station 0.7 miles. Planning granted by Huntingdon District Council on 21 October 2010 Ref: 10001170 FUL for the erection of 4 x 3 storey houses with car ports and gardens.



Local Authority: Huntingdonshire District Council Telephone: 01480 388388 | www.huntsdc.gov.uk

LOT

CO

NTE

NTS

23


GUIDE PRICE:£110,000+

CO

NTE

NTS

24

20

A freehold site with 6 lock up garages, development potential, vacant.Description/Location: Situated just off the A406 Bowes Road, Arnos Grove tube 0.25 miles. The site of 0.06 acres is gated and has potential for both commercial and residential development subject to planning. The 3 double length garages have been used as an engineering workshop and permission was granted by Enfield Council on 20 December 2010 Ref: TP/10/1296 to create a new workshop of 1,300 sq ft with 3 roller shutter doors to the front and a raised roof height. Ideal for MOT station/motor repairs etc.

Tenure: Freehold

To View:Please contact Elliott Network Auctions on 020 7871 0420.

Local Authority: Enfield Council Telephone: 020 8379 1000 | www.enfield.gov.uk

VAT IS APPLICABLE TO THIS LOT


LOnDOnGARAGES AnD LAnD TO ThE REAR 190 BOwES ROAD, nEw SOUThGATE n11 2Jh

CO

NTE

NTS

25


21

A landmark public house occupying a prominent corner site, development potential, vacant.Description/Location: Situated at the junction of Lee High Road and Boone Street, Blackheath station 0.5 miles. Approx 5000 sq ft accommodation with great potential for existing and alternative commercial use or development subject to planning.

Accommodation:Ground Floor: Open plan trade area with bar/servery and customer wcs. First Floor: Large, kitchen, 2 rooms, wc. Second Floor: 5 rooms, bathroom. Cellar: Cold storage.



Local Authority: London Borough of Lewisham Telephone: 0208 314 6000 www.lewisham.gov.uk



LOnDOnwOODMAn, 181 LEE hIGh ROAD, LEwIShAM SE13 5PQ

CO

NTE

NTS

26

wESTERhAMFLAT 10 BRAMIS hOUSE, MAIn ROAD, BIGGIn hILL, kEnT Tn16 3Dx

GUIDE PRICE:£126,500+Estimated Rental Value: £9,600 pa22

BY ORDER OF CORPORATE CLIENTS

A 2 bedroom 2nd floor flat with garage, vacant possession.Description/Location: Situated in a purpose built block in a sought after residential area. Ideal for occupation or investment.

Accommodation:Front door to entrance hall, living room, kitchen, 2 bedrooms, bathroom. Outside: Communal gardens. Garage in block.

Tenure: Leasehold.


Local Authority: Sevenoaks District Council Telephone: 01732 227000 | www.sevenoaks.gov.uk

LOT

wELwynPLOT 1, 12 ThE AVEnUE, hERTFORDShIRE AL6 0PP


Freehold building plot situated in a popular residential road.Description/Location: The site was granted outline planning permission by Welwyn & Hatfield Council for 2 x 5 bedroom, 3 reception detached houses, with further Approval of Reserved Matters in 1991 (Planning ref: No. N6/0364/89DE). Plot 1 comprises a 5 bedroom detached house with garage. The planning approvals were implemented by way of demolition of the original bungalow, access and drainage works. Welwyn & Hatfield Council on 20th April 2012 confirmed that the re-siting of Plot 1 and the changes to the boundary can be treated as a non material amendment to planning application N6/1989/0364/DE.

Proposed Accommodation:Ground Floor: Entrance hall, living room, dining room, study, kitchen, utility room. First Floor: Bedroom with en-suite, 4 further bedrooms, family bathroom. Outside: Gardens and garage.

Tenure: Freehold

To View: Please contact Network Auctions on 020 7871 0420.

Local Authority: Welwyn & Hatfield Borough Council Telephone: 01707 357000 | www.welhat.gov.uk

LOT

CO

NTE

NTS

27


24

A detached public house providing approx 3600 sq ft floor space across 2 floors, vacant.Description/Location: Situated to the west of Heathrow Airport close to Junction 14 M25. Great potential for existing and alternative commercial use or development subject to planning.

Accommodation:Ground Floor: Approx 2300 sq ft. Open plan bar and servery, customer wcs, trade kitchen. First Floor: Approx 1020 sq ft. 5 bedrooms (3 en-suite), bathroom. Cellar: 325 sq ft. Cold storage. Outside: Trade patio to rear and seating area to front.



Local Authority: Hillingdon Borough Council Telephone: 01895 250111 (planning) www.hillingdon.gov.uk



hEAThROwkInGS ARMS, 593 BATh ROAD, LOnGFORD, MIDDLESEx UB7 0EG

CO

NTE

NTS

28

EnFIELDTwO GARAGES TO ThE SIDE OF 72 AnD 72A PARk ROAD, MIDDLESEx En3 6LP

GUIDE PRICE:£18,000 - £20,00026

A pair of freehold lock up garages with parking spaces to the front.Description/Location: Situated in a residential street with parking to front. Ideal for owner storage, rental (ERV £60 pcm each) or possible future development subject to planning.

Tenure: Freehold – Vacant Possession

To View:Please contact Lanes Network Auctions on 020 8804 2253.

Local Authority: Enfield Borough Council Telephone: 0208 366 6565 | www.enfield.gov.uk

LOT

hOLyhEADGARAGES AnD LAnD AT LOnDOn ROAD, GwynEDD LL65 2nU


A freehold site of approx 0.5 acres and 12 lock up garages, vacant.Description/Location: Situated to the rear of residential properties facing London Road with access between numbers 99 and 101. Potential for rental income and re-development.



Local Authority: Isle of Anglesey County Council Telephone: 01248 750057 | www.anglesey.gov.uk

LOT

CO

NTE

NTS

29


GUIDE PRICE:£195,000+Current Rental Value £15,860 pa Potential Rental Value: £23,40 pa

ROChDALE163-165 hOLBORn STREET, LAnCAShIRE OL11 4QE

LOT

27

Detached, purpose built block comprising 6 flats and planning consent for a further flat in the loft void, freehold, vacant.Description/Location: Situated in the residential district of Sudden, Rochdale station 0.9 miles. Ideal for rental investment or re-sale. Planning consent for the formation of an additional flat in the roof space. Four of the flats are let on ASTs (3 x 1 bed at £80 pw and 1x studio at £65 pw).

Accommodation:Ground Floor: 2 x 1 bedroom and 1 x Studio flat. First Floor: 2 x 1 bedroom and 1 x Studio flat. Outside: Communal gardens and car park.


To View:Please contact Surelock Network Auctions on 0121 766 7980.

Local Authority: Rochdale Metropolitan Borough Council Telephone: 01706 647474

CO

NTE

NTS

30

28

Freehold site of 0.24 acres with development potential, vacant.Description/Location: The site fronts the road and is situated in a residential area. A speculative development opportunity with potential for residential and commercial use subject to planning



Local Authority: Durham County Council Telephone: 0300 026 0000 | www.durham.gov.uk

LOTGUIDE PRICE:£4,000 - £6,000

STAnLEyLAnD LyInG BETwEEn ELy TERRACE AnD SOUTh TAnFIELD, kyO LAnE, COUnTy DURhAM Dh9 7LE

CO

NTE

NTS

31


L O C A L E X P E R T I S E | N A T I O N A L C O V E R A G E


Our Partner Auctioneers

To find out more about selling property at auction or to discuss becoming an auction partner please contact us.

[email protected] Tel. 020 7871 0420

Aidan J Reed Network Auctions Loughborough Contact: Aidan Reed Tel: 01509 610032 www.aidanjreed.co.uk

Aspect Network Auctions Harlesden & Acton Contact: Ben Lynch Tel: 0208 965 0000 www.aspect-property.com

Brett Network Auctions Pembrokeshire Contact: Nigel Brett Tel: 01646 663951 www.brettproperty.co.uk

Campsie Network Auctions Windsor Contact: Malcolm Harrison Tel: 01753 410716 www.campsie.com

Castles Network Auctions Tottenham and Hornsey Contact: Steve Hatch Tel: 020 8802 1315 www.castles.uk.com

Elliott Network Auctions Watford Contact: Penny Nichol Tel: 01923 240420 www.networkauctions.co.uk

Forte Network Auctions Bow Contact: Vishal Kapoor Tel: 020 8880 6660 www.fortehomesbow.co.uk

Grey Network Auctions Wembley Contact: Philip Grey Tel: 0208 903 3909 www.greyandco.net

Hartwell Network Auctions Aylesbury Contact: Timothy Taylor Tel: 01296 338888 www.hartwellpartnership.co.uk

Holmes Pearman Network Auctions Billericay Contact: Chris Mitchell Tel: 01277 622466 www.holmespearman.co.uk

Horts Network Auctions Northampton & Rugby Contact: Adam Wellesley Tel: 01604 639 933 www.horts.co.uk

Lane & Holmes Network Auctions Bedford Contact: Nick Kier Tel: 01234 327744 www.hea.co.uk

Lanes Network Auctions Enfield Contact: Paul Lincoln Tel: 020 8804 2253 www.lanesproperty.co.uk

Lawsons Network Auctions Thetford Contact: Matt Lawson Tel: 01842 755422 www.lawsonsestateagents.co.uk

Link Up with Network Auctions Ashford, Kent Contact: John Murray Tel: 01233 668555 www.exclusiveresidential.co.uk

Marshalls Network Auctions Royston Contact: Andy Marshall Tel: 01763 247788 www.marshallsproperties.co.uk

Roberts Newby Network Auctions Chalfont St Giles Contact: Simon Colman Tel: 01494 871991 www.robertsnewby.com

Sansome & George Network Auctions Tadley Contact: David Sansome Tel: 0118 981 0022 www.sansomeandgeorge.co.uk

Sean Heaney Network Auctions Barnet Contact: Sean Heaney Tel: 020 8441 7173 www.seanheaney.co.uk

Shaw & Co Network Auctions Hounslow and Hayes Contact: Pav Lall Tel: 020 8570 7258 www.shawandcoestates.com

SIA Network Auctions Brighton Contact: Simon Morgan Tel: 01273 696545 www.siagroup.co.uk

Surelock Network Auctions Birmingham Contact: Khalid Rashid Tel: 0121 866 7980 www.surelockhomes.co.uk

Tate Network Auctions Chiswick Contact: Chris Ring Tel: 020 8996 0000 www.tatepartnership.co.uk

Tudor Network Auctions Southend on Sea Contact: Malcolm Tuff Tel: 01702 346818 www.trustintudor.co.uk/auctions

32

INTRODUCTIONThe Common Auction Conditions have been produced for real estate auctions in England and Wales to set a common standard across the industry. They are in three sections:GlossaryThe glossary gives special meanings to certain words used in both sets of conditions.Auction Conduct ConditionsThe Auction Conduct Conditions govern the relationship between the auctioneer and anyone who has a catalogue, or who attends or bids at the auction. They cannot be changed without the auctioneer’s agreement. We recommend that these conditions are set out in a two-part notice to bidders in the auction catalogue, part one containing advisory material – which auctioneers can tailor to their needs – and part two the auction conduct conditions.Sale ConditionsThe Sale Conditions govern the agreement between each seller and buyer. They include general conditions of sale and template forms of special conditions of sale, tenancy and arrears schedules and a sale memorandum.Important NoticeA prudent buyer will, before bidding for a lot at an auction:• Take professional advice from a conveyancer and, in

appropriate cases, a chartered surveyor and an accountant;• Read the conditions;• Inspect the lot;• Carry out usual searches and make usual enquiries;• Check the content of all available leases and other

documents relating to the lot;• Check that what is said about the lot in the catalogue is

accurate;• Have finance available for the deposit and purchase price;• Check whether VAT registration and election is advisable;The conditions assume that the buyer has acted like a prudent buyer.If you choose to buy a lot without taking these normal precautions you do so at your own risk.GLOSSARYThis glossary applies to the auction conduct conditions and the sale conditions.Wherever it makes sense:• singular words can be read as plurals, and plurals as

singular words;• a “person” includes a corporate body;• words of one gender include the other genders;• references to legislation are to that legislation as it may

have been modified or re-enacted by the date of the auction or the contract date (as applicable); and

• where the following words printed in bold black type appear in bold green type they have the specified meanings.

Actual Completion DateThe date when completion takes place or is treated as taking place for the purposes of apportionment and calculating interest.AddendumAn amendment or addition to the conditions or to the particulars or to both whether contained in a supplement to the catalogue, a written notice from the auctioneers or an oral announcement at the auction.Agreed Completion DateSubject to condition G9.3:(a) the date specified in the special conditions; or(b) if no date is specified, 20 business days after the

contract date; but if that date is not a business day the first subsequent business day.

Approved Financial InstitutionAny bank or building society that has signed up to the Banking Code or Business Banking Code or is otherwise acceptable to the auctioneers.ArrearsArrears of rent and other sums due under the tenancies and still outstanding on the actual completion date.Arrears ScheduleThe arrears schedule (if any) forming part of the special conditions.AuctionThe auction advertised in the catalogue.Auction Conduct ConditionsThe conditions so headed, including any extra auction conduct conditions.AuctioneersThe auctioneers at the auction.Business DayAny day except (a) a Saturday or a Sunday; (b) a bank holiday in England and Wales; or (c) Good Friday or Christmas Day.

BuyerThe person who agrees to buy the lot or, if applicable, that person’s personal representatives: if two or more are jointly the buyer their obligations can be enforced against them jointly or against each of them separately.CatalogueThe catalogue to which the conditions refer including any supplement to it.CompletionUnless otherwise agreed between seller and buyer (or their conveyancers) the occasion when both seller and buyer have complied with their obligations under the contract and the balance of the price is unconditionally received in the seller’s conveyancer’s client account.ConditionOne of the auction conduct conditions or sales conditions.ContractThe contract by which the seller agrees to sell and the buyer agrees to buy the lot.Contract DateThe date of the auction or, if the lot is not sold at the auction:(a) the date of the sale memorandum signed by both the

seller and buyer; or(b) if contracts are exchanged, the date of exchange. If

exchange is not effected in person or by an irrevocable agreement to exchange made by telephone, fax or electronic mail the date of exchange is the date on which both parts have been signed and posted or otherwise placed beyond normal retrieval.

DocumentsDocuments of title (including, if title is registered, the entries on the register and the title plan) and other documents listed or referred to in the special conditions relating to the lot.Financial ChargeA charge to secure a loan or other financial indebtedness (not including a rent charge).General ConditionsThat part of the sale conditions so headed, including any extra general conditions.Interest RateIf not specified in the special conditions, 4% above the base rate from time to time of Barclays Bank plc. (The interest rate will also apply to judgment debts, if applicable.)LotEach separate property described in the catalogue or (as the case may be) the property that the seller has agreed to sell and the buyer to buy (including chattels, if any). Old ArrearsArrears due under any of the tenancies that are not “new tenancies” as defined by the Landlord and Tenant (Covenants) Act 1995.ParticularsThe section of the catalogue that contains descriptions of each lot (as varied by any addendum).PractitionerAn insolvency practitioner for the purposes of the Insolvency Act 1986 (or, in relation to jurisdictions outside the United Kingdom, any similar official).PriceThe price that the buyer agrees to pay for the lot.Ready to CompleteReady, willing and able to complete: if completion would enable the seller to discharge all financial charges secured on the lot that have to be discharged by completion, then those outstanding financial charges do not prevent the seller from being ready to complete.Sale ConditionsThe general conditions as varied by any special conditions or addendum.Sale MemorandumThe form so headed (whether or not set out in the catalogue) in which the terms of the contract for the sale of the lot are recorded.SellerThe person selling the lot. If two or more are jointly the seller their obligations can be enforced against them jointly or against each of them separately.Special ConditionsThose of the sale conditions so headed that relate to the lot.TenanciesTenancies, leases, licences to occupy and agreements for lease and any documents varying or supplemental to them.Tenancy ScheduleThe tenancy schedule (if any) forming part of the special conditions.TransferTransfer includes a conveyance or assignment (and “to

transfer” includes “to convey” or “to assign”).TUPEThe Transfer of Undertakings (Protection of Employment) Regulations 2006.VATValue Added Tax or other tax of a similar nature.VAT OptionAn option to tax.We (and us and our) The auctioneers.You (and your)Someone who has a copy of the catalogue or who attends or bids at the auction, whether or not a buyer.AUCTION CONDUCT CONDITIONSA1 IntroductionA1.1 Words in bold green type have special meanings,

which are defined in the Glossary.A1.2 The catalogue is issued only on the basis that you

accept these auction conduct conditions. They govern our relationship with you and cannot be disapplied or varied by the sale conditions (even by a condition purporting to replace the whole of the Common Auction Conditions). They can be varied only if we agree.

A2 Our roleA2.1 As agents for each seller we have authority to: (a) prepare the catalogue from information supplied

by or on behalf of each seller; (b) offer each lot for sale; (c) sell each lot; (d) receive and hold deposits; (e) sign each sale memorandum; and (f) treat a contract as repudiated if the buyer fails

to sign a sale memorandum or pay a deposit as required by these auction conduct conditions.

A2.2 Our decision on the conduct of the auction is final.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 sold or withdrawn from sale prior to the auction.

A2.4 You acknowledge that to the extent permitted by law we owe you no duty of care and you have no claim against us for any loss.

A3 Bidding and reserve pricesA3.1 All bids are to be made in pounds sterling exclusive of

any applicable VAT.A3.2 We may refuse to accept a bid. We do not have to

explain why.A3.3 If there is a dispute over bidding we are entitled to

resolve it, and our decision is final.A3.4 Unless stated otherwise each lot is subject to a reserve

price (which may be fixed just before the lot is offered for sale). If no bid equals or exceeds that reserve price the lot will be withdrawn from the auction.

A3.5 Where there is a reserve price the seller may bid (or ask us or another agent to bid on the seller’s behalf) up to the reserve price but may not make a bid equal to or exceeding the reserve price. You accept that it is possible that all bids up to the reserve price are bids made by or on behalf of the seller.

A3.6 Where a guide price (or range of prices) is given that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell at the date of the guide price. But guide prices may change. The last published guide price will normally be at or above any reserve price, but not always – as the seller may fix the final reserve price just before bidding commences.

A4 The particulars and other informationA4.1 We have taken reasonable care to prepare particulars

that correctly describe each lot. The particulars are based on information supplied by or on behalf of the seller. You need to check that the information in the particulars is correct.

A4.2 If the special conditions do not contain a description of the lot, or simply refer to the relevant lot number, you take the risk that the description contained in the particulars is incomplete or inaccurate, as the particulars have not been prepared by a conveyancer and are not intended to form part of a legal contract.

A4.3 The particulars and the sale conditions may change prior to the auction and it is your responsibility to check that you have the correct versions.

A4.4 If we provide information, or a copy of a document, provided by others we do so only on the basis that we are not responsible for the accuracy of that information or document.

COMMON AUCTION CONDITIONS

33


A5 The contractA5.1 A successful bid is one we accept as such (normally

on the fall of the hammer). This condition A5 applies to you if you make the successful bid for a lot.

A5.2 You are obliged to buy the lot on the terms of the sale memorandum at the price you bid plus VAT (if applicable).

A5.3 You must before leaving the auction: (a) provide all information we reasonably need

from you to enable us to complete the sale memorandum (including proof of your identity if required by us);

(b) sign the completed sale memorandum; and (c) pay the deposit.A5.4 If you do not we may either: (a) as agent for the seller treat that failure as your

repudiation of the contract and offer the lot for sale again: the seller may then have a claim against you for breach of contract; or

(b) sign the sale memorandum on your behalf.A5.5 The deposit: (a) is to be held as stakeholder where VAT would be

chargeable on the deposit were it to be held as agent for the seller, but otherwise is to be held as stated in the sale conditions; and

(b) must be paid in pounds sterling by cheque or by bankers’ draft made payable to us on an approved financial institution. The extra auction conduct conditions may state if we accept any other form of payment.

A5.6 We may retain the sale memorandum signed by or on behalf of the seller until the deposit has been received in cleared funds.

A5.7 If the buyer does not comply with its obligations under the contract then:

(a) you are personally liable to buy the lot even if you are acting as an agent; and

(b) you must indemnify the seller in respect of any loss the seller incurs as a result of the buyer’s default.

A5.8 Where the buyer is a company you warrant that the buyer is properly constituted and able to buy the lot.

A6 Extra auction conduct conditionsA6.1 Despite any special condition to the contrary the

minimum deposit we accept is £2000 (or the total price, if less). A special condition may, however, require a higher minimum deposit.

GENERAL CONDITIONS OF SALEWords in bold green type have special meanings, which are defined in the Glossary.The general conditions (including any extra general conditions) apply to the contract except to the extent that they are varied by special conditions or by an addendum.G1. The lotG1.1 The lot (including any rights to be granted or reserved,

and any exclusions from it) is described in the special conditions, or if not so described the lot is that referred to in the sale memorandum.

G1.2 The lot is sold subject to any tenancies disclosed by the special conditions, but otherwise with vacant possession on completion.

G1.3 The lot is sold subject to all matters contained or referred to in the documents, but excluding any financial charges: these the seller must discharge on or before completion.

G1.4 The lot is also sold subject to such of the following as may affect it, whether they arise before or after the contract date and whether or not they are disclosed by the seller or are apparent from inspection of the lot or from the documents:

(a) matters registered or capable of registration as local land charges;

(b) matters registered or capable of registration by any competent authority or under the provisions of any statute;

(c) notices, orders, demands, proposals and requirements of any competent authority;

(d) charges, notices, orders, restrictions, agreements and other matters relating to town and country planning, highways or public health;

(e) rights, easements, quasi-easements, and wayleaves;

(f) outgoings and other liabilities; (g) any interest which overrides, within the meaning of

the Land Registration Act 2002; (h) matters that ought to be disclosed by the

searches and enquiries a prudent buyer would make, whether or not the buyer has made them; and

(i) anything the seller does not and could not reasonably know about.

G1.5 Where anything subject to which the lot is sold would expose the seller to liability the buyer is to comply with it and indemnify the seller against that liability.

G1.6 The seller must notify the buyer of any notices, orders, demands, proposals and requirements of any competent authority of which it learns after the contract date but the buyer must comply with them and keep the seller indemnified.

G1.7 The lot does not include any tenant’s or trade fixtures or fittings.

G1.8 Where chattels are included in the lot the buyer takes them as they are at completion and the seller is not liable if they are not fit for use.

G1.9 The buyer buys with full knowledge of: (a) the documents, whether or not the buyer has

read them; and (b) the physical condition of the lot and what could

reasonably be discovered on inspection of it, whether or not the buyer has inspected it.

G1.10 The buyer is not to rely on the information contained in the particulars but may rely on the seller’s conveyancer’s written replies to preliminary enquiries to the extent stated in those replies.

G2. DepositG2.1 The amount of the deposit is the greater of: (a) any minimum deposit stated in the auction

conduct conditions (or the total price, if this is less than that minimum); and

(b) 10% of the price (exclusive of any VAT on the price).

G2.2 The deposit (a) must be paid in pounds sterling by cheque or

banker’s draft drawn on an approved financial institution (or by any other means of payment that the auctioneers may accept); and

(b) is to be held as stakeholder unless the auction conduct conditions provide that it is to be held as agent for the seller.

G2.3 Where the auctioneers hold the deposit as stakeholder they are 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 entitled to it under the sale conditions.

G2.4 If a cheque for all or part of the deposit is not cleared on first presentation the seller may treat the contract as at an end and bring a claim against the buyer for breach of contract.

G2.5 Interest earned on the deposit belongs to the seller unless the sale conditions provide otherwise.

G3. Between contract and completionG3.1 Unless the special conditions state otherwise, the

seller is to insure the lot from and including the contract date to completion and:

(a) produce to the buyer on request all relevant insurance details;

(b) pay the premiums when due; (c) if the buyer so requests, and pays any additional

premium, use reasonable endeavours to increase the sum insured or make other changes to the policy;

(d) at the request of the buyer use reasonable endeavours to have the buyer’s interest noted on the policy if it does not cover a contracting purchaser;

(e) unless otherwise agreed, cancel the insurance at completion, apply for a refund of premium and (subject to the rights of any tenant or other third party) pay that refund to the buyer; and

(f) (subject to the rights of any tenant or other third party) hold on trust for the buyer any insurance payments that the seller receives in respect of loss or damage arising after the contract date or assign to the buyer the benefit of any claim; and the buyer must on completion reimburse to the seller the cost of that insurance (to the extent not already paid by the buyer or a tenant or other third party) for the period from and including the contract date to completion.

G3.2 No damage to or destruction of the lot nor any deterioration in its condition, however caused, entitles the buyer to any reduction in price, or to delay completion, or to refuse to complete.

G3.3 Section 47 of the Law of Property Act 1925 does not apply.

G3.4 Unless the buyer is already lawfully in occupation of the lot the buyer has no right to enter into occupation prior to completion.

G4. Title and identityG4.1 Unless condition G4.2 applies, the buyer accepts the

title of the seller to the lot as at the contract date and may raise no requisition or objection except in relation to any matter that occurs after the contract date.

G4.2 If any of the documents is not made available before the auction the following provisions apply:

(a) The buyer may raise no requisition on or objection to any of the documents that is made available before the auction.

(b) If the lot is registered land the seller is to give

to the buyer within five business days of the contract date an official copy of the entries on the register and title plan and, where noted on the register, of all documents subject to which the lot is being sold.

(c) If the lot is not registered land the seller is to give to the buyer within five business days an abstract or epitome of title starting from the root of title mentioned in the special conditions (or, if none is mentioned, a good root of title more than fifteen years old) and must produce to the buyer the original or an examined copy of every relevant document.

(d) If title is in the course of registration, title is to consist of certified copies of:

(i) the application for registration of title made to the land registry;

(ii) the documents accompanying that application;

(iii) evidence that all applicable stamp duty land tax relating to that application has been paid; and

(iv) a letter under which the seller or its conveyancer agrees to use all reasonable endeavours to answer any requisitions raised by the land registry and to instruct the land registry to send the completed registration documents to the buyer.

(e) The buyer has no right to object to or make requisitions on any title information more than seven business days after that information has been given to the buyer.

G4.3 Unless otherwise stated in the special conditions the seller sells with full title guarantee except that (and the transfer shall so provide):

(a) the covenant set out in section 3 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to matters recorded in registers open to public inspection; these are to be treated as within the actual knowledge of the buyer; and

(b) the covenant set out in section 4 of the Law of Property (Miscellaneous Provisions) Act 1994 shall not extend to any condition or tenant’s obligation relating to the state or condition of the lot where the lot is leasehold property.

G4.4 The transfer is to have effect as if expressly subject to all matters subject to which the lot is sold under the contract.

G4.5 The seller does not have to produce, nor may the buyer object to or make a requisition in relation to, any prior or superior title even if it is referred to in the documents.

G4.6 The seller (and, if relevant, the buyer) must produce to each other such confirmation of, or evidence of, their identity and that of their mortgagees and attorneys (if any) as is necessary for the other to be able to comply with applicable Land Registry Rules when making application for registration of the transaction to which the conditions apply.

G5. TransferG5.1 Unless a form of transfer is prescribed by the special

conditions: (a) the buyer must supply a draft transfer to the

seller at least ten business days before the agreed completion date and the engrossment (signed as a deed by the buyer if condition G5.2 applies) five business days before that date or (if later) two business days after the draft has been approved by the seller; and

(b) the seller must approve or revise the draft transfer within five business days of receiving it from the buyer.

G5.2 If the seller remains liable in any respect in relation to the lot (or a tenancy) following completion the buyer is specifically to covenant in the transfer to indemnify the seller against that liability.

G5.3 The seller cannot be required to transfer the lot to anyone other than the buyer, or by more than one transfer.

G6. CompletionG6.1 Completion is to take place at the offices of the

seller’s conveyancer, or where the seller may reasonably require, on the agreed completion date. The seller can only be required to complete on a business day and between the hours of 0930 and 1700.

G6.2 The amount payable on completion is the balance of the price adjusted to take account of apportionments plus (if applicable) VAT and interest.

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 (b) the release of any deposit held by a stakeholder.

G6.4 Unless the seller and the buyer otherwise agree, completion cannot take place until both have complied with their obligations under the contract and

34

the balance of the price is unconditionally received in the seller’s conveyancer’s client account.

G6.5 If completion takes place after 1400 hours for a reason other than the seller’s default it is to be treated, for the purposes of apportionment and calculating interest, as if it had taken place on the next business day.

G6.6 Where applicable the contract remains in force following completion.

G7. Notice to complete G7.1 The seller or the buyer may on or after the agreed

completion date but before completion give the other notice to complete within ten business days (excluding the date on which the notice is given) making time of the essence.

G7.2 The person giving the notice must be ready to complete.

G7.3 If the buyer fails to comply with a notice to complete the seller may, without affecting any other remedy the seller has:

(a) terminate the contract; (b) claim the deposit and any interest on it if held by a

stakeholder; (c) forfeit the deposit and any interest on it; (d) resell the lot; and (e) claim damages from the buyer.G7.4 If the seller fails to comply with a notice to complete

the buyer may, without affecting any other remedy the buyer has:

(a) terminate the contract; and (b) recover the deposit and any interest on it from the

seller or, if applicable, a stakeholder.G8. If the contract is brought to an end If the contract is lawfully brought to an end: (a) the buyer must return all papers to the seller

and appoints the seller its agent to cancel any registration of the contract; and

(b) the seller must return the deposit and any interest on it to the buyer (and the buyer may claim it from the stakeholder, if applicable) unless the seller is entitled to forfeit the deposit under condition G7.3.

G9. Landlord’s licenceG9.1 Where the lot is or includes leasehold land and licence

to assign is required this condition G9 applies.G9.2 The contract is conditional on that licence being

obtained, by way of formal licence if that is what the landlord lawfully requires.

G9.3 The agreed completion date is not to be earlier than the date five business days after the seller has given notice to the buyer that licence has been obtained.

G9.4 The seller must: (a) use all reasonable endeavours to obtain the

licence at the seller’s expense; and (b) enter into any authorised guarantee agreement

properly required.G9.5 The buyer must: (a) promptly provide references and other relevant

information; and (b) comply with the landlord’s lawful requirements.G9.6 If within three months of the contract date (or such

longer period as the seller and buyer agree) the licence has not been obtained the seller or the buyer may (if not then in breach of any obligation under this condition G9) by notice to the other terminate the contract at any time before licence is obtained. That termination is without prejudice to the claims of either seller or buyer for breach of this condition G9.

G10. Interest and apportionmentsG10.1 If the actual completion date is after the agreed

completion date for any reason other than the seller’s default the buyer must pay interest at the interest rate on the price (less any deposit paid) from the agreed completion date up to and including the actual completion date.

G10.2 Subject to condition G11 the seller is not obliged to apportion or account for any sum at completion unless the seller has received that sum in cleared funds. The seller must pay to the buyer after completion any sum to which the buyer is entitled that the seller subsequently receives in cleared funds.

G10.3 Income and outgoings are to be apportioned at actual completion date unless:

(a) the buyer is liable to pay interest; and (b) the seller has given notice to the buyer at any

time up to completion requiring apportionment on the date from which interest becomes payable by the buyer; in which event income and outgoings are to be apportioned on the date from which interest becomes payable by the buyer.

G10.4 Apportionments are to be calculated on the basis that: (a) the seller receives income and is liable for

outgoings for the whole of the day on which apportionment is to be made;

(b) annual income and expenditure accrues at an

equal daily rate assuming 365 days in a year, and income and expenditure relating to some other period accrues at an equal daily rate during the period to which it relates; and

(c) where the amount to be apportioned is not known at completion apportionment is to be made by reference to a reasonable estimate and further payment is to be made by seller or buyer as appropriate within five business days of the date when the amount is known.

G11. ArrearsPart 1 Current rentG11.1 “Current rent” means, in respect of each of the

tenancies subject to which the lot is sold, the instalment of rent and other sums payable by the tenant in advance on the most recent rent payment date on or within four months preceding completion.

G11.2 If on completion there are any arrears of current rent the buyer must pay them, whether or not details of those arrears are given in the special conditions.

G11.3 Parts 2 and 3 of this condition G11 do not apply to arrears of current rent.

Part 2 Buyer to pay for arrearsG11.4 Part 2 of this condition G11 applies where the special

conditions give details of arrears.G11.5 The buyer is on completion to pay, in addition to any

other money then due, an amount equal to all arrears of which details are set out in the special conditions.

G11.6 If those arrears are not old arrears the seller is to assign to the buyer all rights that the seller has to recover those arrears.

Part 3 Buyer not to pay for arrearsG11.7 Part 3 of this condition G11 applies where the

special conditions: (a) so state; or (b) give no details of any arrears.G11.8 While any arrears due to the seller remain unpaid the

buyer must: (a) try to collect them in the ordinary course of

management but need not take legal proceedings or forfeit the tenancy;

(b) pay them to the seller within five business days of receipt in cleared funds (plus interest at the interest rate calculated on a daily basis for each subsequent day’s delay in payment);

(c) on request, at the cost of the seller, assign to the seller or as the seller may direct the right to demand and sue for old arrears, such assignment to be in such form as the seller’s conveyancer may reasonably require;

(d) if reasonably required, allow the seller’s conveyancer to have on loan the counterpart of any tenancy against an undertaking to hold it to the buyer’s order;

(e) not without the consent of the seller release any tenant or surety from liability to pay arrears or accept a surrender of or forfeit any tenancy under which arrears are due; and

(f) if the buyer disposes of the lot prior to recovery of all arrears obtain from the buyer’s successor in title a covenant in favour of the seller in similar form to part 3 of this condition G11.

G11.9 Where the seller has the right to recover arrears it must not without the buyer’s written consent bring insolvency proceedings against a tenant or seek the removal of goods from the lot.

G12. ManagementG12.1 This condition G12 applies where the lot is sold

subject to tenancies.G12.2 The seller is to manage the lot in accordance with its

standard management policies pending completion.G12.3 The seller must consult the buyer on all management

issues that would affect the buyer after completion (such as, but not limited to, an application for licence; a rent review; a variation, surrender, agreement to surrender or proposed forfeiture of a tenancy; or a new tenancy or agreement to grant a new tenancy) and:

(a) the seller must comply with the buyer’s reasonable requirements unless to do so would (but for the indemnity in paragraph (c)) expose the seller to a liability that the seller would not otherwise have, in which case the seller may act reasonably in such a way as to avoid that liability;

(b) if the seller gives the buyer notice of the seller’s intended act and the buyer does not object within five business days giving reasons for the objection the seller may act as the seller intends; and

(c) the buyer is to indemnify the seller against all loss or liability the seller incurs through acting as the buyer requires, or by reason of delay caused by the buyer.

G13. Rent depositsG13.1 This condition G13 applies where the seller is holding

or otherwise entitled to money by way of rent deposit in respect of a tenancy. In this condition G13 “rent deposit deed” means the deed or other document under which the rent deposit is held.

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 terms of the rent deposit deed, comply at the cost of the buyer with the buyer’s lawful instructions.

G13.3 Otherwise the seller must on completion pay and assign its interest in the rent deposit to the buyer under an assignment in which the buyer covenants with the seller to:

(a) observe and perform the seller’s covenants and conditions in the rent deposit deed and indemnify the seller in respect of any breach;

(b) give notice of assignment to the tenant; and (c) give such direct covenant to the tenant as may be

required by the rent deposit deed.G14. VATG14.1 Where a sale condition requires money to be paid or

other consideration to be given, the payer must also pay any VAT that is chargeable on that money or (a) of the buyer’s VAT registration; consideration, but only if given a valid VAT invoice.

G14.2 Where the special conditions state that no VAT option has been made the seller confirms that none has been made by it or by any company in the same VAT group nor will be prior to completion.

G15. Transfer as a going concern Where the special conditions so state: (a) the seller and the buyer intend, and will take all

practicable steps (short of an appeal) to procure, that the sale is treated as a transfer of a going concern; and

(b) this condition G15 applies. The seller confirms that the seller

(a) is registered for VAT, either in the seller’s name or as a member of the same VAT group; and

(b) has (unless the sale is a standard-rated supply) made in relation to the lot a VAT option that remains valid and will not be revoked before completion.

G15.3 The buyer confirms that: (a) it is registered for VAT, either in the buyer’s name

or as a member of a VAT group; (b) it has made, or will make before completion,

a VAT option in relation to the lot and will not revoke it before or within three months after completion;

(c) article 5(2B) of the Value Added Tax (Special Provisions) Order 1995 does not apply to it; and

(d) it is not buying the lot as a nominee for another person.

G15.4 The buyer is to give to the seller as early as possible before the agreed completion date evidence:

(a) of the buyer’s VAT registration; (b) that the buyer has made a VAT option; and (c) that the VAT option has been notified in writing to

HM Revenue and Customs; and if it does not produce the relevant evidence at least

two business days before the agreed completion date, condition G14.1 applies at completion.

G15.5 The buyer confirms that after completion the buyer intends to:

(a) retain and manage the lot for the buyer’s own benefit as a continuing business as a going concern subject to and with the benefit of the tenancies; and

(b) collect the rents payable under the tenancies and charge VAT on them

G15.6 If, after completion, it is found that the sale of the lot is not a transfer of a going concern then:

(a) the seller’s conveyancer is to notify the buyer’s conveyancer of that finding and provide a VAT invoice in respect of the sale of the lot;

(b) the buyer must within five business days of receipt of the VAT invoice pay to the seller the VAT due; and

(c) if VAT is payable because the buyer has not complied with this condition G15, the buyer must pay and indemnify the seller against all costs, interest, penalties or surcharges that the seller incurs as a result.

G16. Capital allowancesG16.1 This condition G16 applies where the special

conditions state that there are capital allowances available in respect of the lot.

G16.2 The seller is promptly to supply to the buyer all information reasonably required by the buyer in connection with the buyer’s claim for capital allowances.

G16.3 The value to be attributed to those items on which capital allowances may be claimed is set out in the special conditions.

G16.4 The seller and buyer agree: (a) to make an election on completion under Section

198 of the Capital Allowances Act 2001 to give effect to this condition G16; and

35


(b) to submit the value specified in the special conditions to HM Revenue and Customs for the purposes of their respective capital allowance computations.

G17. Maintenance agreementsG17.1 The seller agrees to use reasonable endeavours to

transfer to the buyer, at the buyer’s cost, the benefit of the maintenance agreements specified in the special conditions.

G17.2 The buyer must assume, and indemnify the seller in respect of, all liability under such contracts from the actual completion date.

G18. Landlord and Tenant Act 1987G18.1 This condition G18 applies where the sale is a relevant

disposal for the purposes of part I of the Landlord and Tenant Act 1987.

G18.2 The seller warrants that the seller has complied with sections 5B and 7 of that Act and that the requisite majority of qualifying tenants has not accepted the offer.

G19. Sale by practitionerG19. This condition G19 applies where the sale is by a

practitioner either as seller or as agent of the seller.G19.2 The practitioner has been duly appointed and is

empowered to sell the lot.G19.3 Neither the practitioner nor the firm or any member

of the firm to which the practitioner belongs has any personal liability in connection with the sale or the performance of the seller’s obligations. The transfer is to include a declaration excluding that personal liability.

G19.4 The lot is sold: (a) in its condition at completion; (b) for such title as the seller may have; and (c) with no title guarantee; and the buyer has no right to terminate the contract or

any other remedy if information provided about the lot is inaccurate, incomplete or missing.

G19.5 Where relevant: (a) the documents must include certified copies

of those under which the practitioner is appointed, the document of appointment and the practitioner’s acceptance of appointment; and

(b) the seller may require the transfer to be by the lender exercising its power of sale under the Law of Property Act 1925.

G19.6 The buyer understands this condition G19 and agrees that it is fair in the circumstances of a sale by a practitioner.

G20. TUPEG20.1 If the special conditions state “There are no

employees to which TUPE applies”, this is a warranty by the seller to this effect.

G20.2 If the special conditions do not state “There are no employees to which TUPE applies” the following paragraphs apply:

(a) The seller must notify the buyer of those employees whose contracts of employment will transfer to the buyer on completion (the “Transferring Employees”). This notification must be given to the buyer not less than 14 days before completion.

(b) The buyer confirms that it will comply with its obligations under TUPE and any special conditions in respect of the Transferring Employees.

(c) The buyer and the seller acknowledge that pursuant and subject to TUPE, the contracts of employment between the Transferring Employees and the seller will transfer to the buyer on completion.

(d) The buyer is to keep the seller indemnified against all liability for the Transferring Employees after completion.

G21. Environmental G21.1 This condition G21 only applies where the special

conditions so provide.G21.2 The seller has made available such reports as the

seller has as to the environmental condition of the lot and has given the buyer the opportunity to carry out investigations (whether or not the buyer has read those reports or carried out any investigation) and the buyer admits that the price takes into account the environmental condition of the lot.

G21.3 The buyer agrees to indemnify the seller in respect of all liability for or resulting from the environmental condition of the lot.

G22. Service ChargeG22.1 This condition G22 applies where the lot is sold subject

to tenancies that include service charge provisions.G22.2 No apportionment is to be made at completion in

respect of service charges. G22.3 Within two months after completion the seller must

provide to the buyer a detailed service charge account for the service charge year current on completion showing:

(a) service charge expenditure attributable to each tenancy;

(b) payments on account of service charge received from each tenant;

(c) any amounts due from a tenant that have not been received;

(d) any service charge expenditure that is not attributable to any tenancy and is for that reason irrecoverable.

G22.4 In respect of each tenancy, if the service charge account shows that:

(a) payments on account (whether received or still then due from a tenant) exceed attributable service charge expenditure, the seller must pay to the buyer an amount equal to the excess when it provides the service charge account;

(b) attributable service charge expenditure exceeds payments on account (whether those payments have been received or are still then due), the buyer must use all reasonable endeavours to recover the shortfall from the tenant at the next service charge reconciliation date and pay the amount so recovered to the seller within five business days of receipt in cleared funds;

but in respect of payments on account that are still due from a tenant condition G11 (arrears) applies.

G22.5 In respect of service charge expenditure that is not attributable to any tenancy the seller must pay the expenditure incurred in respect of the period before actual completion date and the buyer must pay the expenditure incurred in respect of the period after actual completion date. Any necessary monetary adjustment is to be made within five business days of the seller providing the service charge account to the buyer.

G22.6 If the seller holds any reserve or sinking fund on account of future service charge expenditure or a depreciation fund:

(a) the seller must pay it (including any interest earned on it) to the buyer on completion; and

(b) the buyer must covenant with the seller to hold it in accordance with the terms of the tenancies and to indemnify the seller if it does not do so.

G23. Rent reviewsG23.1 This condition G23 applies where the lot is sold

subject to a tenancy under which a rent review due on or before the actual completion date has not been agreed or determined.

G23.2 The seller may continue negotiations or rent review proceedings up to the actual completion date but may not agree the level of the revised rent or commence rent review proceedings without the written consent of the buyer, such consent not to be unreasonably withheld or delayed.

G23.3 Following completion the buyer must complete rent review negotiations or proceedings as soon as reasonably practicable but may not agree the level of the revised rent without the written consent of the seller, such consent not to be unreasonably withheld or delayed.

G23.4 The seller must promptly: (a) give to the buyer full details of all rent review

negotiations and proceedings, including copies of all correspondence and other papers; and

(b) use all reasonable endeavours to substitute the buyer for the seller in any rent review proceedings.

G23.5 The seller and the buyer are to keep each other informed of the progress of the rent review and have regard to any proposals the other makes in relation to it.

G23.6 When the rent review has been agreed or determined the buyer must account to the seller for any increased rent and interest recovered from the tenant that relates to the seller’s period of ownership within five business days of receipt of cleared funds.

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 been received by completion the increased rent and any interest recoverable is to be treated as arrears.

G23.8 The seller and the buyer are to bear their own costs in relation to rent review negotiations and proceedings.

G24. Tenancy renewalsG24.1 This condition G24 applies where the tenant under

a tenancy has the right to remain in occupation under part II of the Landlord and Tenant Act 1954 (as amended) and references to notices and proceedings are to notices and proceedings under that Act.

G24.2 Where practicable, without exposing the seller to liability or penalty, the seller must not without the written consent of the buyer (which the buyer must not unreasonably withhold or delay) serve or respond to any notice or begin or continue any proceedings.

G24.3 If the seller receives a notice the seller must send a copy to the buyer within five business days and act as the buyer reasonably directs in relation to it.

G24.4 Following completion the buyer must: (a) with the co-operation of the seller take immediate

steps to substitute itself as a party to any proceedings;

(b) use all reasonable endeavours to conclude any proceedings or negotiations for the renewal of the tenancy and the determination of any interim rent as soon as reasonably practicable at the best rent or rents reasonably obtainable; and

(c) if any increased rent is recovered from the tenant (whether as interim rent or under the renewed tenancy) account to the seller for the part of that increase that relates to the seller’s period of ownership of the lot within five business days of receipt of cleared funds.

G24.5 The seller and the buyer are to bear their own costs in relation to the renewal of the tenancy and any proceedings relating to this.

G25. Warranties G25.1 Available warranties are listed in the special conditions.G25.2 Where a warranty is assignable the seller must: (a) on completion assign it to the buyer and give

notice of assignment to the person who gave the warranty; and

(b) apply for (and the seller and the buyer must use all reasonable endeavours to obtain) any consent to assign that is required. If consent has not been obtained by completion the warranty must be assigned within five business days after the consent has been obtained.

G25.3 If a warranty is not assignable the seller must after completion:

(a) hold the warranty on trust for the buyer; and (b) at the buyer’s cost comply with such of the lawful

instructions of the buyer in relation to the warranty as do not place the seller in breach of its terms or expose the seller to any liability or penalty.

G26. No assignment The buyer must not assign, mortgage or otherwise

transfer or part with the whole or any part of the buyer’s interest under this contract.

G27. Registration at the Land RegistryG27.1 This condition G27.1 applies where the lot is leasehold

and its sale either triggers first registration or is a registrable disposition. The buyer must at its own expense and as soon as practicable:

(a) procure that it becomes registered at Land Registry as proprietor of the lot;

(b) procure that all rights granted and reserved by the lease under which the lot is held are properly noted against the affected titles; and

(c) provide the seller with an official copy of the register relating to such lease showing itself registered as proprietor.

G27.2 This condition G27.2 applies where the lot comprises part of a registered title. The buyer must at its own expense and as soon as practicable:

(a) apply for registration of the transfer; (b) provide the seller with an official copy and title plan for the buyer’s new title; and (c) join in any representations the seller may properly

make to Land Registry relating to the application.G28. Notices and other communicationsG28.1 All communications, including notices, must be in

writing. Communication to or by the seller or the buyer may be given to or by their conveyancers.

G28.2 A communication may be relied on if: (a) delivered by hand; or (b) made electronically and personally acknowledged

(automatic acknowledgement does not count); or (c) there is proof that it was sent to the address of the

person to whom it is to be given (as specified in the sale memorandum) by a postal service that offers normally to deliver mail the next following business day.

G28.3 A communication is to be treated as received: (a) when delivered, if delivered by hand; or (b) when personally acknowledged, if made

electronically; but if delivered or made after 1700 hours on a

business day a communication is to be treated as received on the next business day.

G28.4 A communication sent by a postal service that offers normally to deliver mail the next following business day will be treated as received on the second business day after it has been posted.

G29. Contracts (Rights of Third Parties) Act 1999 No one is intended to have any benefit under the

contract pursuant to the Contract (Rights of Third Parties) Act 1999.

G30. Extra General Conditions

36

AUTHORISATION FORM FOR BIDDING BY TELEPHONE OR PROXY

TERMS & CONDITIONS FOR BIDDING BY TELEPHONE OR PROXY

1. A prospective buyer wishing to make a telephone bid (a “Bidder” ) must complete, sign and date the form within this catalogue. Separate forms must be completed for each lot on which a bid is to be placed.

2. The form must be delivered to Network Auctions Limited, 133 The Parade, Watford, Hertfordshire, WD17 1NA at least 24 hours prior to the start of the Auction together with the appropriate payment as mentioned below.

3. Forms must be accompanied by a deposit payment of 10% of the Bidder’s maximum bid. The deposit payment shall be made by bankers draft. Cheques can only be accepted if provided to the Auctioneers in sufficient time for them to clear through the banking system prior to the Auction.

4. In the case of a proxy bid the Bidder hereby authorizes the Auctioneers or their staff to bid on their behalf as their agent up to the maximum amount of the authorised bid the whole of the Bidder’s deposit will be used as deposit towards the purchase price. If the

Bidder is unsuccessful the full amount of the Bidder’s deposit will be refunded to the Bidder promptly after the Auction (without interest).

5. In the case of a telephone bid a member of the Auctioneers’ staff will attempt to contact the Bidder by telephone before the lot in question is offered for sale. If contact is made the Bidder may compete in the bidding through the Auctioneers’ staff. However if telephone contact cannot be made or the connection is lost the Bidder hereby authorises the Auctioneers and their staff to bid on their behalf up to the maximum authorised bid for the lot in question. If the Bidder is successful at a price which is less than the guide price the whole of the Bidder’s deposit will be used as a deposit towards the purchase price. If the Bidder is unsuccessful the full amount of the Bidder’s deposit will be refunded to the Bidder promptly after the Auction (without interest).

6. If the Bidder is successful the Bidder hereby authorises the Auctioneers to sign the Memorandum of Agreement on their behalf.

7. If the Bidder wishes to withdraw or alter his instructions or to attend the Auction to bid it is their responsibility to notify the Auctioneers in writing before the Auction and also to notify the auctioneer in charge of the Auction before the lot in question is offered for sale.

8. The Auctioneers shall not be liable for any failure to bid due to inadequate or unclear instructions being received or for any other reason. The Auctioneers have absolute discretion as to whether or not and in what manner to bid.

9. The Bidder is deemed to have full knowledge of the General and Special Conditions of Sale and the Notice to All Prospective Buyers herein. The Bidder is also deemed to have full knowledge of any addendum produced by the Auctioneers at or prior to the Auction. The Bidder is therefore advised to check whether any relevant addendum has or will be produced but the Auctioneers will not be liable to the Bidder if he fails to so check.

Name .................................................................................................................. Telephone (tick) Proxy (tick)

Address .....................................................................................................................................................................................................

TELEPHONE NUMBERS

Business ................................................. Home ......................................................... Mobile ..............................................................

Email ..........................................................................................................................................................................................................

I hereby authorise Network Auctions Limited (“the Auctioneers”) to bid on my behalf whether by proxy or by telephone for the property referred to below subject to the Terms and Conditions for Bidding by Telephone or by Proxy published in the Auctioneers’ catalogue and subject also to the General Conditions of Sale and the Special Conditions of Sale applicable and to any addendum produced at or prior to the Auction.

Address of Lot ..........................................................................................................................................................................................

Lot No. .......................................................................................................................................................................................................

Maximum bid (Figures) .............................................................................. (Words) ...............................................................................

N.B. The bid must be a specified amount. A bid which is expressed to be relative to any other bid will not be accepted. I attach a bankers draft for 10% of the maximum bid. If my bid is successful I confirm the Auctioneers are authorised to sign the Memorandum of Agreement on my behalf.

Solicitors ................................................................................................................... Solicitors Tel No. ................................................

Contact Name ..........................................................................................................................................................................................

Solicitors Address ....................................................................................................................................................................................

Signed ....................................................................................................................... Date ......................................................................


MEMORANDUM

I/we .............................................................................................................................................................................................................

of .................................................................................................................................................................................................................

Home Tel. ............................................................................ Mobile/Business Tel. ...............................................................................

Email ..........................................................................................................................................................................................................

Do hereby confirm that I have this day purchased the property described in the aforementioned Particulars of sale

as Lot Number ..........................................................................................................

Address ......................................................................................................................................................................................................

.....................................................................................................................................................................................................................

in the sum of £................................................... subject to the General/common and special conditions and that I have

paid to NeTWOrK AucTIONs LTD, The Auctioneers, the sum of £................................................... as a deposit and in part

payment of the purchase price and I hereby agree to pay the remainder of the said purchase money and to complete the said

purchase according to the aforementioned Particulars and the General/common and special conditions of sale.

Dated .................................................................................... ... day of ......................................................................................... 2012

Purchase Money ....................................................................................................... Administration Fee £495 + vAT

Sub Total .................................................................................................................... Less Deposit .......................................................

Balance to Pay ..........................................................................................................

Buyers Signature ......................................................................................................................................................................................

As Agents for the Seller ..........................................................................................................................................................................

we hereby confirm this sale and acknowledge receipt of the deposit in accordance with the within conditions.

Signed on behalf of the Seller ................................................................................ ..............................................................................

Abstract of Title to be sent to .................................................................................................................................................................

.....................................................................................................................................................................................................................

Tel No. ............................................................................................. Contact Name. ..............................................................................

No other property auctioneer can offer what we do, both locally and nationally.Operating centrally, we have recruited like-minded firms around the country who have the essential local reputation, knowledge and expertise to advise clients selling at auction.

The comprehensive training and mentoring programme offered to our partners ensures that clients get the very best advice on what properties are suitable for auction, when they should be sold, how they should be sold and what the reserve price should be.

By offering this unique approach, sellers have the best of both worlds. Properties are marketed locally by our partners as well as nationally through ourselves. Our partners maintain their position and relationship with the local market by growing their auction business with the professionalism and diligence that Is the guiding principle of Network Auctions.

If you have properties that you would consider placing in future auctions or you would like to discuss how to become a member of Network Auctions, then please contact us to arrange an initial meeting.

E [email protected]

T 020 7871 0420


133 The Parade, Watford, Hertfordshire WD17 1NA

FUTURE AUCTIONSLONDONTHursDAY 1 NOvemBer 2012

THursDAY 6 DecemBer 2012

LONDON BrIDGe, LONDON se1 9DD - Network Auctions › catalogue › flipbook-catalogue... ·...

Documents

Transcript of LONDON BrIDGe, LONDON se1 9DD - Network Auctions › catalogue › flipbook-catalogue... ·...