christopher hall property auction catalogue - 07-12-2009

8/14/2019 Christopher Hall Property Auction Catalogue - 07-12-2009

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PROPERTY

AUCTION

CATALOGUE

MONDAY 7TH DECEMBER 2009

St. David's Park HotelSt. David's Park

Ewloe

Nr. Chester

Flintshire

CH5 3YB


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Welcome to our December Auction December 7th, 2009

Sale No Fee Limited t/a Christopher Hall Property Auctions

1 3 Mold Road, Buckley, Flintshire, CH7 2JA.

16-18 Chester Street, Mold, CH7 1EG

Welcome

Welcome to our December Auction Catalogue.

With an average success rate of 86% at our last

auction we are delighted to present an excellent

collection of lots from a mixture of private

clients, builders and developers.

To arrange a viewing of any of the auction

properties or for further information please do

not hesitate to contact us on 01352 752224.

Alternatively you can visit our website at

www.christopherhallpropertyauctions.co.ukwhere bidding forms and legal documents are

available for download.

Additional free copies of this catalogue are

available at:

www.christoperhallpropertyauctions.co.uk/catalogue

Alternatively complete the form at the end of this

catalogue and mail to:

Christopher Hall Property Auctions

1 3 Mold Road, Buckley

Flintshire, CH7 2JA

16-18 Chester Street, Mold

Flintshire, CH7 1EG

Future Auction Dates

Closing Date Auction Date

28th

December 2009 28th

January 2010

28th January 2010 28th February 2010

Christopher Hall Property Auction

Monday, December 7th

2009

For pre-registered attendees there will be free

drinks.

On arrival - registration 18.00 19.00

Auction starts promptly 19.00 close

To be held at:

St. David's Park Hotel

St. David's Park

Ewloe

Nr. Chester

Flintshire

CH5 3YB

Telephone: 0844 980 2361

Fax: 01244 520 930
http://www.christopherhallpropertyauctions.co.uk/http://www.christopherhallpropertyauctions.co.uk/http://www.christoperhallpropertyauctions.co.uk/cataloguehttp://www.christoperhallpropertyauctions.co.uk/cataloguehttp://www.christoperhallpropertyauctions.co.uk/cataloguehttp://www.christopherhallpropertyauctions.co.uk/


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Location, location, location! Where to find us.




Location,

Location

Location!

How to get there:

St. David's Park Hotel

St. David's Park

Ewloe

Nr. Chester

Flintshire

CH5 3YB

Telephone: 0844 980 2361

Fax: 01244 520 930

By Car:

M6, M56 for North Wales, A5117 for North

Wales, A494 past Queensferry, then take

the B5127 signposted Buckley and the

Hotel is located on the roundabout

By Train:

Hawarden Station 2 miles

Shotton Station 4 miles

Chester Station 10 miles

For more information:

National Rail Enquiries

By Air:

Liverpool John Lennon - 35 mins,

Manchester International - 50 mins
http://www.nationalrail.co.uk/http://www.nationalrail.co.uk/http://www.nationalrail.co.uk/http://www.nationalrail.co.uk/


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CHRISTOPHER HALL PROPERTY AUCTIONS BUYERS PREMIUM CONDITIONS December 7th, 2009



16 18 Chester Street, Mold, CH7 1EG

Buyers

Premium

BUYERS PREMIUM

All lots at the Christopher Hall Property Auction

to be held at St. Davids Park Hotel on Monday

7th December 2009 are sold subject to a

Buyers Premium, the terms and conditions for

which are outlined below:

Buyers Premium Terms and Conditions

All properties are subject to a Buyers Premium

unless otherwise stated. On acceptance of an

offer, the successful buyer shall pay a premium

of 5000 plus VAT to Sale No Fee Ltd T/A

Christopher Hall Property Auctions. This fee is

non refundable and is not considered as part

payment of the final negotiated selling price.

As an example, if the buyer bids 100,000 whichis then accepted, the final purchase price is

100,000 plus the buyers premium of 5,000

plus VAT (750) meaning the total of purchase

price and buyers premium is 105,750.

The amount payable when the hammer falls in

the above example is therefore, 5,750, plus 5%

of the purchase price, which is 5,000, giving a

total of 10,750.

Ways to Bid

There are 3 main methods of bidding on the

night ofthe auction: -in person, proxy bid and

telephone bid.

In person -on arrival at the auction venue, all

persons interested in bidding must register at

the foyer ofthe auction and obtain a bidders

paddle.

Proxy bid -a purchaser who can not attend the

auction may instruct in writing a member of

Christopher Hall staff to bid on their behalf

under the terms and conditions of the auction.

Telephone bid -the interested bidder may bid

over the telephone via a member of Christopher

Hall staff under the relevant terms and

conditions of auction.

For any proxy or telephone bidders a remote

bidding form must be completed by the bidder

and Christopher Hall must be in possession of

cleared funds in respect of the deposit if the

bidder is successful. Please forms and

conditions later in this catalogue.

All bids are to be made clearly. The Auctioneer

reserves the right to regulate bidding and to

refuse undesirable bids. The vendor reserves

the right to bid up to the reserve price or

authorise the Auctioneer to do so. In the event

of any dispute in respect of the auction, the

Auctioneers decision is final.


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Auctioneers Pre-sale Announcement December 7th, 2009




Pre-sale

Announcement

AUCTIONEER'S PRE-SALE ANNOUNCEMENT

1. All Lots will be offered for Sale in accordance with the

Order of Sale in the catalogue. Lots will be sold on the

basis of the Common Auction Conditions, the Special

Conditions of Sale and the Buyers Premium Conditions.

2. An Addendum to Particulars of Sale and Conditions of

Sale (if applicable) will be distributed on the day of the

Auction. This is an important document providing details

of all corrections to the catalogue and in some cases the

Conditions of Sale. Prospective Buyers are deemed to have

read the Addendum whether or not they have actively

done so.

3. Where possible Special Conditions of Sale, which are

specific to individual Lots, and Title Documentation will be

made available for inspection at the Mold offices of

Christopher Hall Property Auctions 14 days prior to the

Auction. Any Special Conditions will be attached to the

Memorandum of Sale. They will also be available on our

website:

www.christopherhallpropertyautions.co.uk/auctioncatalogue

4. During the Auction, the Auctioneer will not deal with

any questions. We are selling on the basis that prospective

buyers have made all their inspections, surveys and legal

enquiries. This is particularly important in respect of Lots

which we have not inspected, or if we have not had sight

of any tenancy agreements. Prospective buyers must had

read the Notices within the catalogue and Common

Auction Conditions and fully understand their content.

5. Should you have any questions in relation to any of the

Lots please ask a Christopher Hall representative who will

attempt to answer your question.

6. The Guide Prices indicated within the catalogue are an

approximate only and should not be interpreted as anasking price, reserve price or value. Each Guide Price is

subject to contract.

7. Once the Auction commences please bid clearly and

without delay. Please remember, it is your responsibility to

attract the Auctioneers Attention.

8. At the fall of the hammer, the successful bidder, will

enter into a legally binding contract and will be asked by a

runner to attend the Auction contract table.

9. At the Auction table you will be asked for your name,

address and details of your solicitor and for 2 forms of

identification as set out in the catalogue. You will then be

asked to provide a deposit cheque for 5% of the purchase

price together with the Buyers Premium of 5,000 plus

VAT. Please note Christopher Hall cannot accept cash

deposits.

10. Cheques are only accepted on the basis that there are

adequate funds in the account upon which the cheque isdrawn. Our clients reserve their rights to take any action

they feel appropriate against a buyer whose cheque is not

honoured on first presentation.

11I. All cheques to be made payable to Sale No Fee Ltd.

12. The buyer is responsible for insuring the property from

the date of exchange.

13. Completion of the sale and payment of the balance of

the purchaser money is due within 28 days after the

Auction unless the conditions of sale state otherwise.

14. The Auctioneer will not describe each Lot in detail, he

will simply state the address, Lot number and a very brief

description.

15. All Lots offered for sale are offered subject to a

Reserve Price. Any exceptions to this will be announced on

the day of the Auction.

16. Keys will not be released until completion of the sale.

If access is required it may be arranged through our office

with the permission of the Vendor.
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Welcome to our December Auction December 7th, 2009




Lot

Listing

Christopher Hall Property Auction

Welcome to our Auction Catalogue for Monday, December 7th

2009

For pre-registered attendees there will be free drinks on arrival until the start of the auction.

Registration 18.00 19.00

Auction starts promptly 19.00 close

Lot Listing

LOT 1 321 Chester Road, Oakenholt,

Flintshire, CH6 5SE

LOT 10 Llwyn Ceris, Hafod Road,

Gwernaffield, CH7 5ES

LOT 2 7 Bryn Road, Mynydd Isa,

Flintshire, CH7 6UR

LOT 11 59 Bryn Goleu, Southsea

Wrexham, LL11 6RT

LOT 3 2 Sandy Way, Hawarden,

Deeside, CH5 3JJ

LOT 12 22 Chestnut Close, Flint, CH6 5YS

LOT 4 Land at Brunswick Road,

Buckley, Flintshire, CH7.

LOT 13 Pen Y Stryt, Ffordd Nercwys,

Treuddyn, Nr Mold, CH7 4BG

LOT 5 51 Saughall Road, Blacon,Chester, CH1 5EY

LOT 14 4 Vulcan Cottages, New Road,Southsea,

LOT 6 Bar Lloyd, Holywell Road,

Flint, CH6 5DT.

LOT 15 15 Connor Crescent, Wrexham,

LL13 8PR

LOT 7 30 Bowden Avenue, Barlborough,

Chesterfield, S43 4JE

LOT 16 24 Chester Road West,

Shotton,

LOT 8 2 Bluebell Cottage, Denbigh Road,

Mold, Flintshire, CH7 1BL

LOT 17 37 Norman Road, Hightown,

Wrexham, LL13 7BG

LOT 9 10 Caer Fallwch, Rhosesmor,

Nr Mold, CH7 6PN


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AUCTION PROPERTY LOT LISTING December 7th, 2009




Lots

1 - 2

Lot Number 1 Full Details at: www.christopherhallpropertyauctions.co.uk

321 Chester Road, Oakenholt,

Flintshire, CH6 5SE

Guide Price 75,000 FREEHOLD

A well presented 2 bed mid-terrace property with Gas Central

Heating and Double Glazed windows. The Ground Floor

comprises of lounge with an arch to the dining room, both have

laminate flooring and living flame gas fires. There is a fitted

kitchen to the rear. The first floor has 2 Bedrooms and family

bathroom with shower. To the rear there are views over the

Dee Estuary, a paved patio area, and a further garden area

providing off-road parking.Notes Disclaimer: The particulars give a general outline of the property for the

guidance of intended purchasers. Their accuracy is not guaranteed and they do

not form part of any contract.

sold unsold sold prior withdrawn

Starting Bid Final BidLot Number 2 Full Details at: www.christopherhallpropertyauctions.co.uk

7 Bryn Road, Mynydd Isa,

Flintshire, CH7

Guide Price 100,000 FREEHOLDDetached Bungalow in need of some refurbishment. The

property comprises of Entrance Porch, Reception Hall, Lounge,

Kitchen/Breakfast Room, Two Bedrooms, Family Bathroom.

The property also benefits from having Gas Central Heating,

Double Glazed Windows and Cavity Wall Insulation, uPVC

facias and guttering. The Bungalow has Gardens to Front and

Rear, and a larger than average Single Bay Garage.

Notes Disclaimer: The particulars give a general outline of the property for theguidance of intended purchasers. Their accuracy is not guaranteed and they do



Starting Bid Final Bid
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Lots

3 - 4


2 Sandy Way, Hawarden,

Deeside, CH5 3JJ


This Detached Bungalow is situated within the historic village of

Hawarden. It comprises of: - Vestibule, Reception Hall, Lounge,

Dining Room, Kitchen, Rear Vestibule, Two Bedrooms, and

Bathroom. The property has the added benefits of Gas Central

Heating System, Double Glazed Windows, Single Bay Garage,

Gardens Front and Rear. The property is currently tenanted on

an assured short hold tenancy. Current rent 595 pcm.

Potential yield based on guide price is 5.95%





Land at Brunswick Road,

Buckley, Flintshire.

Guide Price 550,000 FREEHOLDThe land benefits from Full Planning Permission for

21 x 652sq ft 2 Bedroom Apartments and 29 Car parking

spaces (1 per apartment and 8 visitor spaces).

The site extends to a gross area of 0.47 Acres (0.19 Hectares)

and is not yet under construction. It is located to the north of

Buckley town centre along the A459.

In summary, the total building is over 3 floors and 15,502sq ft

including 1,820sq ft circulation. Each 2 bedroom apartment

has a master en suite, separate bathroom, separate kitchen

and a combined dining room and Lounge.

NotesDisclaimer: The particulars give a general outline of the property for the

guidance of intended purchasers. Their accuracy is not guaranteed and they

do not form part of any contract.




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Lots

5 - 6


51 Saughall Road, Blacon,

Chester, CH1 5EY


This detached bungalow is situated within Blacon,

approximately 2 miles from the centre of the historic city of

Chester. The property comprises of:- Entrance Porch, Reception

Hall, Lounge, Kitchen, Two Bedrooms, Bathroom, Rear Porch,

Sun Lounge. The property has the added benefits of a Single

Bay Garage, Gardens to Front and Rear.





Bar Lloyd, Holywell Road,

Flint, CH6 5DT.

Guide Price 200,000 FREEHOLDThis former Public House, with associated parking can be

found in a Town Centre location. It has the benefit of

Planning Permission for development into 5, 1 bedroomed

apartments.The plans are available for inspection atChristopher Halls Mold office.

Notes Disclaimer: The particulars give a general outline of the property for theguidance of intended purchasers. Their accuracy is not guaranteed and they



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Lots

7 - 8


30 Bowden Avenue, Barlborough,

Chesterfield, S43 4JE


Detached Bungalow, comprising of reception hall, lounge,

dining kitchen, conservatory, three bedrooms and a bathroom.

The property has the added benefits of gas central heating,

double glazed windows, gardens front and rear and parking

giving access to single bay garage.






2 Bluebell Cottage, Denbigh Road, Mold,

Flintshire, CH7 1BL


The semi detached house has the benefit of a town centre

location and features two bedrooms, lounge, dining room,

kitchen and bathroom with gas central heating and private

parking. The property is currently tenanted on a short hold

assured tenancy, current rent 495 pcm. Potential yield based

on the guide price is 6.25%.




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Lots

9 - 10


10 Caer Fallwch, Rhosesmor,

Nr Mold, CH7 6PN


A Semi Detached House with lounge, kitchen, utility room three

bedrooms and a bathroom. Benefiting from oil central heating

and double glazed windows it features gardens to the front and

rear. The property is currently tenanted on an assured short

hold tenancy, current rent 500 pcm. This represents a yield of

7.05% based on the guide price.






Llwyn Ceris, Hafod Road,

Gwernaffield, CH7 5ES


Modern detached bungalow with lounge, dining room, fitted

kitchen and utility room. Accommodation includes three

bedrooms, en suite shower room and bathroom. There is

Parking and mature gardens. The property has the benefit of

oil central heating. The property is currently tenanted on an

assured short hold tenancy, current rent 600 pcm. This

represents a yield of 3.6% based on the guide price.




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Lots

11 - 12


59 Bryn Goleu, Southsea

Wrexham, LL11 6RT


Modern terraced house with kitchen, lounge/diner three

bedrooms a bathroom and to complete the accommodation

there is an attic conversion. The property benefits from gas

central heating and double glazing. Outside there is a gardens

with parking.






22 Chestnut Close, Flint, CH6 5YS


An end terraced house featuring lounge, kitchen, two

bedrooms and a bathroom. The property has the benefit of

gas central heating double glazed windows. Out side there are

gardens and a parking area.






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Lots

13 - 14


Pen Y Stryt, Ffordd Nercwys,

Treuddyn, Nr Mold, CH7 4BG


A rare opportunity to acquire a detached former farm house

with lounge, dining room, family room/bedroom four, kitchen

and a utility room. Further there are three bedrooms, a

bathroom and a shower room. There are gardens to front and

rear, a parking area and paddock.






4 Vulcan Cottages, New Road, Southsea,

Wrexham, LL11 5RW


A terraced house which comprises of lounge, kitchen, three

bedrooms, and family bathroom. The property has the added

benefits of Gas Central Heating and Double Glazed Windows.

To the outside there is a good size rear garden with off road

parking.






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Lots

15 - 16


15 Connor Crescent, Wrexham, LL13 8PR


An end terrace house with lounge, kitchen, three bedrooms,

A bathroom and W.C. The property enjoys the benefit of

double glazed windows and has gardens to the front and the

rear.






24 Chester Road West, Shotton,

Flintshire, CH5 1BXGuide Price 85,000 FREEHOLD

A commercial property with a High Street location offered as

an investment opportunity with the current business

unaffected. Featuring a modern retail area with storage area

there are kitchen and toilet facilities. On the first floor there

are four further offices. The property is currently tenanted on

a formal lease and the current rental income is 9,000 per

annum. This represents a yield of 10.5% based on the guide

price.






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Lot

17 -


37 Norman Road, Hightown,

Wrexham, LL13 7BG


This is a terraced House with lounge, dining room, kitchen,

bathroom and three bedrooms. The property benefits from

gas central heating and double glazing. There are gardens to

the front and rear of the property.




Starting Bid Final Bid sold unsold sold prior withdrawn



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Telephone Bidding Registration Form December 7th, 2009



and 16-18 Chester Street, Mold, CH7 1EG

Telephone

Bidding

I hereby instruct Christopher Hall Property Auctions to bid on my behalf in accordance with the enclosed Terms &

Conditions and I acknowledge that should my bid be successful then that bid and offer will be binding upon me.I confirm that Christopher Hall Property Auctions may take my telephone bid when the relevant property is being

offered at the Auction and I acknowledge that such bidding may be recorded in order to avoid any disputes or

uncertainty.

Please fill in sections 1 to 9 below.

1. Auction: Lot Number:

Lot Address:

2. Bidder name: Bidders Fax Number:

Address:

Email Address:

3. Maximum Bid Price:

In Words:

4. Buyers Name:

(if different from above)

5. Telephone Number - landline

or mobile number:

6. Deposit Arrangements:

Cheque/Bankers Draft EnclosedYES/NO in the sum of:

7.Legal papers: Bidder is deemed to have had sight of and understood all legal papers in

respect of the Lot.

8. Solicitors Name:

Address:

Telephone Number:

9. Bidders Signature:

Return to: Christopher Hall Property Auctions, including

Telephone Bidding Registration Form,Cheque/Banker's Draft for the Buyer's Premium,

Separate 5% Deposit Cheque/Bankers Draft,

Proof of Identity Please refer to Auction information in the catalogue.

Please return to: Christopher Hall Property Auctions, 16-18 Chester Street, Mold, CH7 1EG


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Terms & Conditions for Telephone Bidding December 7th, 2009



16 18 Chester Street, Mold, CH7 1EG.

Telephone

Bidding

I. RECITALS

1.1 Prospective bidders wishing to bid by telephone shouldcomplete and sign the Telephone Bidding Registration Form

enclosed. The bidder shall have had sight of and accept the

terms of the Sale Memorandum which shall form part of the

contract should the bid be successful.

1.2 The Auctioneer reserves the right to refuse a bid on behalf

of the telephone bidder should there be any confusion as to

the Maximum Bid Price or with any error in the accompanying

cheque.

1.3 A separate form must be completed for each Lot a

telephone bidder wishes to bid on.

1.4 The completed form(s) must be delivered to Christopher

Hall Property Auctions, 16-18 Chester Street, Mold, Flintshire,

CH7 1EG by hand or by post no later than 24 hours prior to

the commencement of the Auction.

1.5 Any agreed alteration to any telephone bidding form at

any time prior to, or on the day of the Auction, must be made

in writing and prior to the commencement of the Auction.

1.6 The telephone bidder must provide a banker's draft,

solicitors' client account cheque or personal cheque which

must be drawn on a UK clearing bank account of the buyer

and be for 5% of the Maximum Bid Price plus 5,750, to be

made payable to Sale No Fee Limited.

2. When the Lot comes up for Auction Christopher Hall

Property Auctions will attempt to telephone the bidder using

the telephone numbers provided by the bidder on the

Telephone Bidding Registration Form.

3. If a successful telephone connection is made between the

bidder and Christopher Hall Property Auctions the bidder may

then compete in the bidding. Christopher Hall PropertyAuctions relay the bidder's bid to the Auctioneer on behalf of

the bidder.

4. If a successful telephone connection is not made between

the bidder and Christopher Hall Property Auctions for or

during the sale of the relevant Lot or if a successful telephone

connection is made but is subsequently cut or interrupted,

Christopher Hall Property Auctions will only bid on behalf of

the bidder up to the Maximum Bid Price.

5. The telephone bidder shall be considered to have

inspected the Auction particulars for the relevant Lot, the

general terms and conditions of sale, the special conditions of

sale and any amendments or addendums to any of these and

to have full knowledge thereof. The prospective bidder

authorises the Auctioneer or any duly authorised employee of

Christopher Hall Property Auctions as the telephone bidder'sagent to sign the Sale Memorandum incorporating all such

matters at or after Auction.

6. The telephone bidder shall be deemed to have taken all

necessary professional and legal advice and to have made

appropriate enquiries, searches, surveys and inspections in

respect of any relevant Lot and have knowledge of any

announcements made from the rostrum of any amendment or

addendum relating to the relevant Lot.7. Christopher Hall Property Auctions reserve the right not

to bid on behalf of telephone bidders in the event of any

error, doubt, omission, uncertainty as to any bid, or for any

reason whatsoever, and give no warranty or agreement that

any bid will be made on behalf of the bidder and accept no

liability if no bid is made on behalf of the bidder for any Lot.

8. In the event that the telephone bidder is successful the

Auctioneer will sign the Sale Memorandum on behalf of the

seller (a binding contract between the bidder and the seller is

formed on the fall of the hammer) and forward the seller's

signed part of the contract to the telephone bidder's solicitor.

9. In the event that the Lot is knocked down to the

telephone bidder details of the amount of the deposit monies

shall be inserted into the Sale Memorandum. Where any

cheque presented by a bidder in payment of the deposit

exceeds the required 5% any excess will not be returned and

will form an increased deposit and will be held in accordance

with the general terms and conditions of sale or any variations

of them contained in the special conditions.

10. The telephone bidder will be advised if the relevant Lot

has been successfully purchased on his behalf as soon as

possible after the Auction. In the event that the bidder is

unsuccessful at the Auction, the deposit cheque or banker's

draft shall be returned promptly by the Auctioneer to the

bidder.

The Auctioneer reserves the right to bid himself or through an

agent up to the reserve price for the Lot.

12. Unless the relevant Lot is sold to the telephone bidder,

the amount of the telephone bidders bid will not be disclosedto the Seller or any other person either during or after the sale

without the telephone bidders consent.

13. Telephone bidders are advised to contact Christopher Hall

Property Auctions immediately prior to the Auction to ensure

that there are no amendments to the particulars of sale or

conditions relating to the relevant Lot or other matters

relating to it. The telephone bidder will be deemed to have

knowledge of such amendments and will buy subject to them

in any event.

14. If the telephone bidder wishes to attend the Auction and

bid in person they must notify the Auctioneer in writing and

the Auctioneer will not make any bids on their behalf.

15. Two forms of identification in accordance with Money

Laundering Regulations must be submitted with all Telephone

Bidding Registration Forms. For details on identificationaccepted please see the auction conditions or visit

www.christopherhallpropertyauctions.co.uk/auctionconditions

Details are also available within the Auction catalogue.

16. Successful bidders will also be required to pay the Buyers

Premium of 5,000 plus VAT.

Please note all cheques must be made payable to Sale No

Fee Ltd.
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Proxy Bidding Registration Form December 7th, 2009



16-18 Chester Street, Mold, CH7 1EG.

Proxy

Bidding

I hereby instruct Christopher Hall Property Auctions to bid on my behalf in accordance with the enclosed Terms &

Conditions and I acknowledge that should my bid be successful then that bid and offer will be binding upon me.I confirm that Christopher Hall Property Auctions may take my proxy bid when the relevant property isbeing offered at the Auction and I acknowledge that such bidding may be recorded in order to avoid anydisputes or uncertainty.

Please fill in sections 1 to 9 below.

1. Auction: Lot Number:

Lot Address:

2. Bidder name: Bidders Fax Number:

Address:

Email Address:

3. Maximum Bid Price:

In Words:

4. Buyers Name:

(if different from above)

5. Telephone Number - landline

or mobile number:

6. Deposit Arrangements:

Cheque/Bankers Draft Enclosed

YES/NO in the sum of:

7.Legal papers: Bidder is deemed to have had sight of and understood all legal papers in

respect of the Lot.

8. Solicitors Name:

Address:

Telephone Number:

9. Bidders Signature:

Return to: Christopher Hall Property Auctions, including

Telephone Bidding Registration Form,Cheque/Banker's Draft for the Buyer's Premium

Separate 5% Deposit Cheque/Bankers Draft,

Proof of Identity Please refer to Auction information in the catalogue.

Please return to: Christopher Hall Property Auctions, 16-18 Chester Street, Mold, CH7 1EG


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Terms & Conditions for Proxy Bidding December 7th, 2009



Proxy

Bidding

I. RECITALS

1.1 Prospective bidders wishing to bid by proxy shouldcomplete and sign the Proxy Bidding Registration Form

enclosed. The bidder shall have had sight of and accept the

terms of the Sale Memorandum which shall form part of the

contract should the bid be successful.

1.2 The Auctioneer reserves the right to refuse a bid on behalf

of the proxy bidder should there be any confusion as to the

Maximum Bid Price or with any error in the accompanying

cheque.

1.3 A separate form must be completed for each Lot a proxy

bidder wishes to bid on.

1.4 The completed form(s) must be delivered to Christopher

Hall Property Auctions, 16-18 Chester Street, Mold, Flintshire,

CH7 1EG by hand or by post no later than 24 hours prior to

the commencement of the Auction.

1.5 Any agreed alteration to any proxy bidding form at any

time prior to, or on the day of the Auction, must be made in

writing and prior to the commencement of the Auction.

1.6 The proxy bidder must provide a banker's draft, solicitors'

client account cheque or personal cheque which must be

drawn on a UK clearing bank account of the buyer and be for

5% of the Maximum Bid Price plus 5,750, to be made payable

to Sale No Fee Limited.

2. When the Lot comes up for Auction Christopher Hall

Property Auctions will attempt to proxy the bidder using the

proxy numbers provided by the bidder on the Proxy Bidding

Registration Form.

3. If a successful proxy connection is made between the

bidder and Christopher Hall Property Auctions the bidder may

then compete in the bidding. Christopher Hall PropertyAuctions relay the bidder's bid to the Auctioneer on behalf of

the bidder.

4. If a successful proxy connection is not made between the

bidder and Christopher Hall Property Auctions for or during

the sale of the relevant Lot or if a successful proxy connection

is made but is subsequently cut or interrupted, Christopher

Hall Property Auctions will only bid on behalf of the bidder up

to the Maximum Bid Price.

5. The proxy bidder shall be considered to have inspected

the Auction particulars for the relevant Lot, the general terms

and conditions of sale, the special conditions of sale and any

amendments or addendums to any of these and to have full

knowledge thereof. The prospective bidder authorises the

Auctioneer or any duly authorised employee of Christopher

Hall Property Auctions as the proxy bidder's agent to sign theSale Memorandum incorporating all such matters at or after

Auction.

6. The proxy bidder shall be deemed to have taken all

necessary professional and legal advice and to have made

appropriate enquiries, searches, surveys and inspections in

respect of any relevant Lot and have knowledge of any

announcements made from the rostrum of any amendment or

addendum relating to the relevant Lot.

7. Christopher Hall Property Auctions reserve the right not

to bid on behalf of proxy bidders in the event of any error,doubt, omission, uncertainty as to any bid, or for any reason

whatsoever, and give no warranty or agreement that any bid

will be made on behalf of the bidder and accept no liability if

no bid is made on behalf of the bidder for any Lot.

8. In the event that the proxy bidder is successful the

Auctioneer will sign the Sale Memorandum on behalf of the

seller (a binding contract between the bidder and the seller is

formed on the fall of the hammer) and forward the seller's

signed part of the contract to the proxy bidder's solicitor.

9. In the event that the Lot is knocked down to the proxy

bidder details of the amount of the deposit monies shall be

inserted into the Sale Memorandum. Where any cheque

presented by a bidder in payment of the deposit exceeds the

required 5% any excess will not be returned and will form an

increased deposit and will be held in accordance with the

general terms and conditions of sale or any variations of them

contained in the special conditions.

10. The proxy bidder will be advised if the relevant Lot has

been successfully purchased on his behalf as soon as possible

after the Auction. In the event that the bidder is unsuccessful

at the Auction, the deposit cheque or banker's draft shall be

returned promptly by the Auctioneer to the bidder.

The Auctioneer reserves the right to bid himself or through an

agent up to the reserve price for the Lot.

12. Unless the relevant Lot is sold to the proxy bidder, the

amount of the proxy bidders bid will not be disclosed to the

Seller or any other person either during or after the sale

without the proxy bidders consent.

13. Proxy bidders are advised to contact Christopher HallProperty Auctions immediately prior to the Auction to ensure

that there are no amendments to the particulars of sale or

conditions relating to the relevant Lot or other matters

relating to it. The proxy bidder will be deemed to have

knowledge of such amendments and will buy subject to them

in any event.

14. If the proxy bidder wishes to attend the Auction and bid in

person they must notify the Auctioneer in writing and the

Auctioneer will not make any bids on their behalf.

15. Two forms of identification in accordance with Money

Laundering Regulations must be submitted with all Proxy

Bidding Registration Forms. For details on identification

accepted please see the auction conditions or visit the

website at

www.christopherhallpropertyauctions.co.uk/auctionconditions Details are also available within the Auction catalogue.

16. Successful bidders will also be required to pay the Buyers

Premium of 5,000 plus VAT.

Please note all cheques must be made payable to Sale No

Fee Ltd.
http://www.christopherhallpropertyauctions.co.uk/auctionconditionshttp://www.christopherhallpropertyauctions.co.uk/auctionconditionshttp://www.christopherhallpropertyauctions.co.uk/auctionconditions


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CHRISTOPHER HALL PROPERTY AUCTIONS CONDITIONS Terms & Conditions




1

Common Auction Terms and Conditions (reproduced with

the permission of RICS)

1.INTRODUCTION

The common auction conditions have three main sections:

This gives special meanings to some words used in the rest of the conditions.

Glossary

2.These conditions regulate the conduct of the auction. If you read our catalogue orattend the auction you do so on the basis that you accept them.

The conduct of the auction

3.If you buy a lot you will sign a sale memorandum under which you agree to be boundby the conditions of sale that apply to that lot. These conditions are:

Conditions of sale

General conditions that apply to all lots Any extra general conditions in the catalogue or an addendum Special conditions that only apply to the lot you are buying (and which may varythe general conditions)

The conditions are legally binding.

Take professional advice from a solicitor and, in appropriate cases, a charteredsurveyor and an accountant

Important notic e

A prudent buyer will, before bidding for a lot at an auction:

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 priceThe conditions assume that the buyer has acted like a prudent buyer.If you choose to buy a lot w ithout taking these normal precautionsyou do so at your own risk.

Singular words can be read as plurals, and plurals as singular wordsGlossary

In the conditions wherever it makes sense:

A 'person' includes a corporate body Words of one gender include the other genders Where the following words appear highlighted in bold they have specifiedmeanings. These are listed below

Actual completion date

The date when completion takes place or is treated as taking place for the purposesof apportionment and calculating interest.

Addendum

An amendment or addition to the conditions whether contained in a supplement tothe catalogue, a written notice from the auctioneers or an oral announcement at theauction.

Agreed completion date

(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 isnot a business day the first subsequent business day

Approved bank

A UK clearing bank.Arrears

Arrears of rent and other sums due under the tenancies but unpaid on the actualcompletion date.

Auction

The auction advertised in the catalogue.

Auctioneers

The auctioneers at the auction.

Business day

A day which is not (a) a bank or public holiday or (b) a Saturday or Sunday.

Buyer

The person who agrees to buy the lot or, if applicable, that person's personalrepresentatives; if two or more

are jointly the buyer, all obligations can be enforced against them jointly or againsteach of them separately.

Catalogue

The catalogue to which the conditions refer including any supplement to it.

Completion

Completion of the sale of the lot.

Conditions

This glossary, the conditions for the conduct of the auction, the general conditions,any extra conditions and the special conditions.

Contract

The contract by which the seller agrees to sell and the buyer agrees to buy the lot.

Contract date

The dateof 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 inperson 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 beensigned and posted or otherwise placed beyond normal retrieval.

Documents

Documents of title (including, if title is registered, the entries on the register and thefiled plan) and other documents listed or referred to in the special conditions relatingto the lot.

Extra conditions

Any additions to, or variations of, the conditions that are of general application to alllots.

General conditions

The conditions so headed.

Interest rate

If not specified in the special conditions, 4% above the HSBC Bank plc base rate.

Lot

Each separate property described in the catalogue or (as the case may be) theproperty that the seller has agreed to sell and the buyer to buy.

Old arrears

Arrears due under any of the tenancies that are not 'new tenancies' as defined by theLandlord and Tenant (Covenants) Act 1995.

Particulars

The section of the catalogue that contains descriptions of each lot.

Practitioner

A receiver, administrative receiver or liquidator.

Price

The price that the buyer agrees to pay for the lot.

Ready to complete

Ready, willing and able to complete: if completion would enable the seller todischarge all financial charges secured on the lot that have to be discharged bycompletion, then those outstanding financial charges do not prevent the seller frombeing ready to complete.

Sale memorandum

The form so headed set out in the catalogue in which the terms of the contract for thesale of the lot are recorded.

Seller

The person selling the lot.

Special conditionsThe conditions so headed that relate to the lot.

Tenancies

All tenancies, leases, licences to occupy and agreements for lease subject to whichthe lot is sold, and any documents varying or supplemental to them.

Transfer

Includes a conveyance or assignment, to transfer includes to convey or to assign.

TUPE

The Transfer of Undertakings (Protection of Employment) Regulations1981 as


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2

modified or re-enacted fromtime totime.

VATValue Added Tax or other tax of a similar nature.

VAT election

An election to waive exemption from VAT in respect of the lot.

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.

Prepare the catalogue from information supplied by or on behalf ofeach seller

The conduct of the auction

The catalogue is issued only on the basis that you accept these conditions relatingto the conduct of the auction. They override all other conditions and can only bevaried if we agree.

Our role

As agents for each seller we have authority to:

Offer each lot for sale Sell each lot Receive and hold deposits Sign each sale memorandum Treat a contract as repudiated if the buyer fails to sign a sale

memorandum or pay a deposit as required by the conditions

Our decision on the conduct of the auction is final.

We may cancel the auction, withdraw lots from sale, or alter the order inwhich lots are offered for sale. We may also combine or divide lots.

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

Bidding and reserve prices

We may refuse to accept a bid. We do not have to explain why.

If there is a dispute over bidding we are entitled to resolve it, and our decision isfinal.

Unless stated otherwise each lot is subject to a reserve price. If no bid equals orexceeds that reserve price the lot will be withdrawn from the auction. The sellermay 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.Where a guide price is given that price is not to be taken as an indicationof the value of the lot or of the reserve price.

The particulars and other information

We have taken reasonable care to prepare particulars that correctly describe eachlot. However the particulars are based on information supplied by or on behalf ofthe seller and we are not responsible for errors.

The particulars are for your information but you must not rely on them. They donot form part of any contract between the seller and the buyer.

If we provide any information or a copy of any document we do so only on thebasis that we are not responsible for its accuracy.

The contract

A successful bid is one we accept as such.

If you make a successful bid for a lot you are obliged to buy that lot on the termsof the sale memorandum.

The price will be the amount you bid plus VAT (if applicable). You must beforeleaving the auction:

Provide all information we reasonably need from you to enable us to completethe sale memorandum including appropriate proof of your identity

Sign the completed sale memorandum Pay the deposit and if you do not we may either As agent for the seller treat that failure as your repudiation of the contract andoffer the lot for sale again:

the seller may then have a claim against you for breach of contract

Sign the sale memorandum on your behalf

Deposits must be paid by cheque or by bankers' draft drawn on an approved bank inour favour. The catalogue states whether we also accept cash, or debit or credit

cards.

We may retain the sale memorandum signed by or on behalf of the seller until wereceive the deposit in cleared funds.

If you make a successful bid for a lot:

You are personally liable to buy it even if you are acting as an agent. It is yourresponsibility to obtain an indemnity from the person for whom you are the agent

Where the buyer is a company, you warrant that the buyer is properlyconstituted and able to buy the lot

If the buyer does not comply with its obligations under the contract you arepersonally liable to buy the lot and must indemnify the seller in respect of any lossthe seller incurs as a result of the Buyer's default

GENERAL CONDITIONS

The general conditions applyexcept to the extent that they are varied by extraconditions, the special conditions or by an addendum.

1. The lot

1.1 The lot, including any rights granted and reserved, is described in the specialconditions.

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

1.3 The lot is sold subject to all matters contained or referred to in the documents(except charges that are to be discharged on or before completion) and to such ofthe following as may affect it, whether they arise before or after the contract dateand whether or not they are disclosed by the seller or are apparent from inspectionof the lot or 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 underthe provisions of any statute

(c) notices, orders, demands, proposals and requirements of any competentauthority

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

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

(f) outgoings and other liabilities

(g) anything that is an overriding interest within the meaning of section 70 of theLand Registration Act 1925 or would be if the lot were registered land

(h) matters that ought to be disclosed by the searches and enquiries a prudent buyerwould make, whether or not the buyer has made them

(i) anything the seller does not and could not reasonably know about and where anysuch matter would expose the seller to liability, the buyer is to comply with it andindemnify the seller against liability

1.4The seller must notify the buyer of any notices, orders, demands, proposals andrequirements of any competent authority of which it learns after the contract date butthe buyer is to comply with them and must indemnify the seller if it does not.

1.5 The lot does not include any tenant's or trade fixtures or fittings.

1.6 Where chattels are included in the lot the buyer takes them as they are atcompletion and the seller is not liable if they are not fit for use.

1.7 The buyer buys with full knowledge of:

(a) the documents whether or not the buyer has read them

(b) the physical condition of the lot and what could reasonably be discovered oninspection of it, whether or not the buyer has inspected it.

1.8 The buyer is not relying on the information contained in the particulars or in anyreplies to preliminary enquiries but on the buyer's own verification of that information.If any information is not correct any liability of the seller and any remedy of the buyerare excluded to the extent permitted by statute.

2. Deposit

2.1 The amount of the deposit is the greater of:(a) the minimum deposit stated in the catalogue (or the total price, if this is less thanthat minimum)

(b) 5%of the price exclusive of VAT.

2.2 The deposit:

(a) must be paid to the auctioneers by cheque or banker's draft drawn on anapproved bank

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

2.3 Where the auctioneers hold the deposit as stakeholder they


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are authorised to release it and any interest on it to the seller oncompletion or, if completion does not take place, to the personentitled to it under the conditions.

2.4 If for any reason the deposit is not received by theauctioneers in cleared funds within five business days of thecontract date the seller is entitled to treat the contract as atan end and bring a claim against the buyer for breach ofcontract.

2.5 Interest earned on the deposit belongs to the seller unless the conditions provideotherwise.

3. Transfer of risk and insurance

3.1 From the contract date the seller is under no obligation to insure the lot andthe buyer bears all risk of loss or damage unless:

(a) the lot is sold subject to a tenancy which requires the seller to insure the lot or

(b) the special conditions require the seller to insure the lot.

3.2 If the seller is to insure the lot then the seller:

(a) must produce to the buyer on request details of the insurance policy

(b) must use reasonable endeavours to maintain insurance equivalent to that policyand pay the premiums when due

(c) gives no warranty as to the adequacy of the insurance(d) must, at the request of the buyer, use reasonable endeavours to have the buyer'sinterest noted on the policy where the policy does not cover a contracting purchaser

(e) must, unless otherwise agreed, cancel the policy at completion

(f) is to hold in trust for the buyer any insurance payments that the seller receives inrespect of loss or damage arising after the contract date and the buyer mustreimburse to the seller the cost of insurance (to the extent it is not paid by a tenant orother third party) from the contract date.

3.3 If under a tenancy the seller insures the lot then unlessotherwise agreed with the buyer the seller is to pay any refundof premium:

(a) to the buyer

(b) if the special conditions so state, to each tenant in the proportion that the tenantpays premiums under its tenancy, first deducting any arrears of premium due fromthat tenant.

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

3.5 Unless the buyer is already lawfully in occupation of the lot the buyer has no rightto enter into occupation prior to completion.

4. Title4.1 Unless general condition 4.2 applies, the buyer accepts the title of the seller tothe lot as at the contract date and may raise no requisition or objection except inrelation to any matter following the contract date.

4.2 Where no documents are available before the auction:

(a) if the lot is registered land the seller is to give to the buyer within five businessdays of the contract date an office copy of the entries on the register and filed planand of all documents noted on the register that affect the lot

(b) if the lot is not registered land the seller is to give to the buyer within five businessdays an abstract or epitome of title starting from the root of title mentioned in thespecial conditions (or, if none is mentioned, a good root of title more than 15 yearsold) and must produce to the buyer the original or an examined copy of everyrelevant document

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

4.3 Unless otherwise stated in the special conditions the seller sells with full titleguarantee except that:

(a) all matters recorded in registers open to public inspection are to be treated as

within the actual knowledge of the buyer and(b) any implied covenant as to compliance with tenant's obligations under leasesdoes not extend to the state or condition of the lot where the lot is leaseholdproperty.

4.4 If title is in the course of registration, title is to consist of certified copies of:

(a) the documents sent to the land registry

(b) the application to the land registry and a letter under which the seller or itssolicitors agrees to use all reasonable endeavours to answer any requisitions raisedby the land registry and to instruct the land registry to send the completedregistration documents to the buyer.

4.5 The transfer is to have effect as if expressly subject to all matters subject towhich the lot is sold under the contract.

4.6 The seller does not have to produce, nor may the buyer object to or make arequisition in relation to, any prior or superior title even if it is referred to in thedocuments.

5. Transfer

5.1 Unless a form of transfer is set out in the special conditions:

(a) the buyer must supply a draft transfer to the seller at least 10 business daysbefore the agreed completion date and the engrossment five business days beforethat date or (if later) two business days after the draft has been approved by theseller and

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

5.2 If the seller remains liable in any respect in relation to the lot (or atenancy) following completion, the buyer is specifically to covenant in thetransfer to indemnify the seller against that liability.

5.3 The transfer is to be executed in duplicate and the buyer is to return tothe seller the duplicate duly stamped and denoted at the buyers cost assoon as practicable after completion.

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

6. Completion

6.1 Completion is to take place at the offices of the seller's solicitors, or wherethe seller may reasonably require, on a business day between the hours of0930 and 1700.

6 .2 The amount payable on completion is the balance of theprice adjusted to take account of apportionments plus (ifapplicable) VAT and interest.

6.3 Payment is to be made in pounds sterling and only by:

(a) direct transfer to the seller's solicitors' bank account and

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

6.4 Unless the seller and the buyer otherwise agree completion takes place whenboth have complied with their obligations under the contract and the total payment isunconditionally received in the sellers solicitors' bank account.

6.5 If completion takes place after 1400 hours it is to be treated, for thepurposes of apportionment and calculating interest, as if it had taken placeon the next business day.

6.6 Where applicable the contract remains in force following completion.

7. Notice to complete

7.1 The seller or the buyer may on or after the agreed completion date but beforecompletion give the other notice to complete within 10 business days (excluding thedate on which the notice is given) making time of the essence.

7.2 The person giving the notice must be ready to complete.

7.3 If the buyer fails to comply with a notice to complete the seller may, withoutaffecting any other remedy the seller has:

(a) rescind 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.

7.4 If the seller fails to comply with a notice to complete the buyer may, withoutaffecting any other remedy the buyer has:

(a) rescind the contract and

(b) recover the deposit and any interest on it from the seller or, if applicable, astakeholder.

8.If the contract is brought to an endIf the contract is rescinded or otherwise brought to an end:

(a) the buyer must return all papers to the seller and appoints the seller its agent tocancel any registration of the contract

(b) the seller must return the deposit and any interest on it to the buyer (and thebuyer may claim it from the stakeholder, if applicable) unless the seller is entitled toforfeit the deposit under general condition 7.3.

9. Landlord's licence

9.1 Where the lot is leasehold land and licence to assign is required:

(a) the contract is conditional on it being obtained, by way of formal licence, if that is


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what the landlord or the relevant lease properly required.

(b) the agreed completion date is, if necessary, postponed to the date five businessdays after the seller has given notice to the buyer that licence has been obtained.

9.2 The seller must:

(a) use all reasonable endeavours to obtain each licence required

(b) enter into any authorised guarantee agreement properly required under the lease.

9.3 The buyer must:

(a) promptly provide references and otherrelevant information

(b) if properly required under the terms of the lease execute such licence or otherdeed of covenant as may be required and provide guarantees, a rent deposit orother security.

9.4 If within 3 months of the contract date (or such longer period as the sellerand buyer agree) all required licences have not been obtained, the seller or thebuyer may by notice to the other rescind the contract at any time before alllicences are obtained. Rescission is without prejudice to the claims of eitherseller or buyer for breach of this condition nine.

10. Interest and apportionments

10.1 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 interestrate on the price (less any deposit paid) from the agreed completion date up toand including the actual completion date.

10.2 The seller is not obliged to apportion or account for any sum at completionunless the seller has received that sum in cleared funds. The seller must pay to thebuyer after completion any sum to which the buyer is entitled that the sellersubsequently receives in cleared funds.

10.3 Income and outgoings are to be apportioned at actual completion date unless:

(a) the buyer is liable to pay interest

(b) the seller has given notice to the buyer at any time up to completion requiringapportionment on the date from which interest becomes payable. 10.4Apportionments are to be calculated on the basis that:

(a) the seller receives income and is liable for outgoings for the whole of the day onwhich apportionment is to be made

(b) annual income and expenditure accrues at an equal daily rate assuming 365days in a year and income and expenditure relating to a period of less than a yearaccrues at an equal daily rate during the period to which it relates

(c) where the amount to be apportioned is not known at completion apportionment isto be made by reference to the best estimate then available and further payment is tobe made by seller or buyer as appropriate within five business days of the date whenthe amount is known.

11. Arrears

11.1 The seller retains the right to receive and recover old arrears.

11.2 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 legalproceedings, distrain or forfeit the tenancy

(b) pay them to the seller within five business days of receipt in cleared funds (plusinterest at the interest rate calculated on a daily basis for each subsequent day'sdelay in payment)

(c) on request, at the cost of the seller, assign to the seller or as the seller may directthe right to demand and sue for old arrears, such assignment to be in such form asthe seller's solicitors may reasonably require

(d) if reasonably required, allow the seller's solicitors to have on loan the counterpartof any tenancy against an undertaking to hold it to the buyer's order

(e) not release any tenant or surety from liability to pay arrears or accept a surrenderof or forfeit any tenancy under which arrears are due

(f) if the buyer disposes of the lot prior to recovery of all arrears, obtain from thebuyer's successor in title a covenant in favour of the seller in similar form to thiscondition 11.

11.3 Where the seller has the right to recover arrears it must not without the buyer'swritten consent bring insolvency proceedings against a tenant or seek the removal ofgoods from the lot.

12. Management

12.1 This condition applies where the lot is sold subject to tenancies.

12.2 The seller is to manage the lot in accordance with its standardmanagement policies pending completion.

12.3 Unless set out in the special conditions the seller must consultthe buyer on all management issues that would affect the buyerafter completion, such as an application for licence or a rent reviewunder a tenancy, a variation, surrender, agreement to surrender orproposed forfeiture of a tenancy, or a new tenancy or agreement togrant a new tenancy and:

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

(b) if the seller gives the buyer notice of the seller's intended act and the buyer doesnot object within five business days giving reasons for the objection the seller mayact as the seller intends

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

13. Rent depos its

13.1 This condition applies where the seller is holding or otherwise entitled to moneyby way of rent deposit in respect of a tenancy. In this condition 'rent deposit deed'means the deed or other document under which the rent deposit is held.

13.2 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 costof the buyer with the buyer's lawful instructions.

13.3 Otherwise the seller must on completion pay and assign its interest in therent deposit to the buyer under an assignment in which the buyer covenantswith the seller to:

(a) observe and perform the seller's covenants and conditions in the rent depositdeed and indemnify the seller in respect of any breach

(b) give notice of assignment to the tenant

(c) give such direct covenant to the tenant as may be required by the rent depositdeed.

14. VAT

14.1 Where the conditions require money to be paid, the payer must also pay anyVAT that is chargeable on that money, but only if given a valid VAT invoice.

14.2 Where the special conditions state that no VAT election has been made, theseller confirms that none has been made by it or by any company in the same VATgroup nor will be prior to completion.

15. Transfer as a going concern15.1 Where the special conditions so state, the seller and the buyer intendthe sale to be treated as a transfer of a going concern and this conditionapplies.

15.2 The seller confirms that the seller or a company in the same VAT group:

(a) is registered for VAT

(b) has, where necessary, made a VAT election in respect of the lot which remainsvalid.

15.3 The buyer:

(a) is registered for VAT, either in the buyer's name or as a member of a VAT group

(b) has made, or will make before completion, a VAT election in relation to the lot

(c) is to give to the seller as early as possible before the agreed completion dateevidence of the VAT registration and that a VAT election has been made and notifiedin writing to HM Customs and Excise

(d) must not revoke the VAT election and if it does not produce the relevant evidenceat least two business days before the agreed completion date, general condition 14.1applies at completion.

15.4 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 asa going concern subject to and with the benefit of the tenancies

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

15.5 Unless the seller obtains agreement to the contrary from HM Customs andExcise:

(a) the seller must on or as soon as reasonably practicable after completion transferto the buyer all VAT records for the lot

(b) the buyer must keep those records available for inspection by the seller at allreasonable times.


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15.6 If, after completion, it is found that the sale of the lot is not a transfer of a goingconcern, then:

(a) the seller's solicitors are to notify the buyer's solicitors of that finding and providea 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 theseller the VAT due

(c) if VAT is payable because the buyer has not complied with this condition 15, thebuyer must pay and indemnify the seller against all costs, interest, penalties orsurcharges that the seller incurs as a result.

16. Capital allowances

16.1 This condition applies where the special conditions state that there are capitalallowances available in respect of the lot.

16.2 The seller is promptly to supply to the buyer all information reasonably requiredby the buyer in connection with the buyer's claim for capital allowances.

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

16.4 The seller and buyer agree:

(a) to make an election on completion under Section 198 of the Capital AllowancesAct 2001 to give effect to this condition

(b) to submit the value specified in the special conditions to the Inland Revenue forthe purposes of their respective capital allowance computations.

17. Maintenance agreements

17.1 The seller agrees to use reasonable endeavours to transfer to the buyer, at thebuyer's cost, the benefit ofthe maintenance agreements specified in the specialconditions.

17.2 The buyer must assume, and indemnify the seller in respect of, all liability undersuch contracts from the actual completion date.

18. Landlord and Tenant Act 1987

18.1 This condition applies where the sale is a relevant disposal for the purposes ofpart I of the Landlord and Tenant Act 1987.

18.2 Unless the special conditions state otherwise the seller warrants that the sellerhas complied with sections 5B and 7 of that Act and that the requisite majority ofqualifying tenants has not accepted the offer.

19. Sale by r eceiver etc

19.1 This condition applies where the sale is by a practitioner.

19.2 The practitioner has been duly appointed and is empowered to sell the lot.

19.3 The practitioner is the agent of the seller. The practitioner and the practitioner's

partners and staff incur no personal liability in connection with the sale or theperformance of the seller's obligations. The transfer is to include a declarationexcluding the personal liability of the practitioner and of the practitioner's partnersand staff.

19.4 The lot is sold:

(a) in whatever its condition is at completion

(b) whether or not vacant possession is provided

(c) for such title as the seller may have

(d) with no covenants for title and the buyer has no right to rescind the contractor any other remedy if information provided about the lot is inaccurate,incomplete or missing.

19.5 Where the practitioner is a receiver or administrative receiver:

(a) the documents include certified copies of the charge under which thepractitioner is appointed, the document of appointment by the lender and thepractitioner's acceptance of appointment

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

19.6 The buyer understands this condition 19 and agrees that it is fair in the

circumstances of a sale by a practitioner.20. TUPE

20.1Unless the special conditions state that TUPE applies then the seller warrantsthat there are no employees whose contracts of employment will transfer to thebuyer on completion.

20.2 If the special conditions state that TUPE applies then;

(a) the seller has informed the buyer of those employees whose contracts ofemployment will transfer to the buyer on completion

(b) not less than five business days before the agreed completion date the buyermust confirm to the seller that the buyer has offered to employ those employees on

the same terms as, or better terms than, their existing contracts of employment

(c) the buyer is to keep the seller indemnified against all liability for those employeesafter completion.

21. Enviro nmental

21.1 This condition only applies where the special conditions so provide.

21.2 The seller has made available such reports as the seller has as to theenvironmental condition of the lot and has given the buyer the opportunity to carryout investigations (whether or not the buyer has read those reports or carried out anyinvestigation) and the buyer admits that the price takes into account theenvironmental condition of the lot.

21.3 The buyer accepts that as a result the buyer, not the seller, is liable for anypollution on or emanating from the lot, including the cost of remediating it if required,and the buyer must indemnify the seller in respect of all such liability.

22. Service ch arge

22.1 This condition applies where the lot is sold subject to tenancies that includeservice charge provisions.

22.2 No apportionment is to be made at completion in respect of service charges.

22.3 Within two months after completion the seller must provide to thebuyer a detailed service charge account for the service charge yearcurrenton completion showing:

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

(b) service charge expenditure attributable to each tenancy

(c) any irrecoverable service charge expenditure.

22.4 In respect of each tenancy, if the service charge account shows that:

(a) payments on account exceed attributable service charge expenditure; the sellermust pay to the buyer an amount equal to the excess when it provides the servicecharge account

(b) attributable service charge expenditure exceeds payments on account, the buyermust use all reasonable endeavours to recover the shortfall from the tenant at thenext service charge reconciliation date and pay the amount so recovered to the sellerwithin five business days of receipt in cleared funds.

22.5 In respect of irrecoverable service charge expenditure the seller must bear anyincurred before completion (apportioned up to and including the actual completiondate) and the buyer must bear any incurred after the actual completion date. Anynecessary monetary adjustment is to be made within five business days of the sellerproviding the service charge account to the buyer.

22.6 If the seller holds any reserve or sinking fund on account of future servicecharge expenditure

(a) the seller must assign it (including any interest earned on it) to the buyer oncompletion

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

23. Rent r eviews

23.1 This condition applies where the lot is sold subject to a tenancy underwhich a rent review, due on or before the actual completion date, has not beenagreed or determined.

23.2 The seller may continue negotiations or rent review proceedings but maynot agree the level of the revised rent or commence rent review proceedingswithout the written consent of the buyer, such consent not to be unreasonablywithheld.

23.3 Following completion the buyer must complete rent review negotiationsor proceedings as soon as reasonably practicable but may not agree thelevel of the revised rent without the written consent of the seller, suchconsent not to be unreasonably withheld.

23.4 The seller must:

(a) give to the buyer full details of all rent review negotiations and proceedings,including copies of all correspondence and other papers

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

23.5 The seller and the buyer are to keep each other informed of the progress ofthe rent review and have regard to any proposals the other makes in relation toit.

23.6 When the rent review has been agreed or determined the buyer must accountto the seller for any increased rent and interest recovered from the tenant whichrelates to the seller's period of ownership within five business days of receipt ofcleared funds.


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23.7 If a rent review is agreed or determined before completion but theincreased rent and any interest recoverable from the tenant has not beenreceived by completion the increased rent and any interest recoverable isto be treated as arrears.

23.8 The seller and the buyer are to bear their own costs in relation to rent reviewnegotiations and proceedings.

24. Tenancy renewals

24.1 This condition applies where the tenant under a tenancy has the right toremain in occupation under part II of the Landlord and Tenant Act 1954, andreferences to notices and proceedings are to notices and proceedings under thatAct.

24.2 Where practicable, without exposing the seller to liability or penalty, theseller must not without the written consent of the buyer (which the buyermust not unreasonably withhold) serve or respond to any notice or begin orcontinue any proceedings.

24.3 The seller mu