property sharing experts auction catalogue

RICHARD WORRALLFNAEAAUCTIONEER

PROPERTY AUCTIONSALL LOTS AVAILABLE UNLESS SOLD PRIOR

DEVON

WEDNESDAY, 2nd JULY 2014 at 1pm

The Teign SuiteNewton Abbot Racecourse

Newton Road, Newton Abbot Devon TQ12 3AF

CORNWALL

WEDNESDAY, 16th JULY 2014 at 2pm

Jefferys Estate Agents and Auctioneers

18 Duke Street, St Austell,Cornwall

DEVON

THURSDAY, 24th JULY 2014 at 2pm

The Babbacombe Inn59 Babbacombe Downs Road,

Torquay TQ1 3LP

Property Sharing Experts_Cover_JUNE 14_Property Sharing Experts_Cover_JUNE 14 03/06/2014 12:21 Page 2

WestcountryTeam Ltd9 Sandpiper Court,Harrington Lane,Pinhoe,Exeter EX4 8NS Tel: 01392 463800

www.propertysharingexperts.com

In conjunction with Aequus Auctions Limited

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 necessaryenquiries and investigations prior to the sale. Details of the vendor’s solicitors are available on request.

DEPOSITSAt auction the fall of the gavel creates a binding contract and we, as auctioneers, immediately require a deposit of 10% of thepurchase price. This must be by way ofcheque or bankers drafts. PAYMENT BYCASH OR CREDIT/DEBIT CARD CANNOTBE ACCEPTED.

If you wish to have a survey of any of thelots, please refer your surveyor to us toarrange access. You may bid through aproxy bid. To do so, please complete theproxy form within the catalogue and pay a10% deposit which will be banked if you arethe successful bidder.

PRIOR SALESProspective buyers should contact us priorto the auction to confirm whether a lot hasbeen sold or withdrawn. The auctioneers and their clients shall not be responsible forany losses or abortive costs incurred byprospective purchasers against lots that arewithdrawn or sold prior to the auction.

PRICE GUIDESThe 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 topress. These guide prices may be subject to variation and interested parties are advisedto make regular checks for variations.Prospective bidders should also be awarethat eventual sale prices may be above orbelow the guide levels dependant upon

competition, and should therefore not presume the guide to be indicative of thefinal expected sale price.

PARTICULAR OF SALESProspective buyers should check the particulars relating to the lots in this catalogue and ensure that they are satisfiedwith the accuracy of all measurements,areas, details, leases and other matters referred to in the particulars of the lot or theconditions of the sale and all other matterssubject to which the properties are sold orhave the benefit of. Prospective buyersshould check that any contents, fixtures orfittings described as included in the sale areindeed the property of the vendor. Thisshould be done by inspecting the propertyand by making the necessary enquiries withthe Auctioneers, the vendor and the vendors’solicitors. Prospective buyers should makeall 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 andhave made all necessary and appropriate enquiries and searches.

SALE OF PROPERTYBuyers please note that a legally enforceablecontract of sale of the relevant property onthe terms set out in these notices and thegeneral and special conditions is created assoon as it has been “knocked down” to thebuyer by the auctioneer.

ADMINISTRATION CHARGE/BUYERS PREMIUMAn administration charge/buyers premiumapplies to each lot. This is paid at the clerksdesk on the day of the auction. In the eventof non-payment, this figure will be deductedfrom the amount received before the balanceis applied to the deposit.

RENTS, INFORMATION REGARDING TENANTS AND PRICE ESTIMATESAny estimates provided by the auctioneersregarding the price at which a property maybe sold or which a prospective buyer shouldbid for such a property cannot be acceptedby a buyer as a valuation. Any estimates orsuggestions given by the auctioneers toprospective buyers regarding the current orfuture rental price for the whole or part of theproperty must not be relied upon as valuationbut estimates for guidance purpose only.

CONDITIONS OF SALE AND AMENDMENTS/ADDITIONS TO THE CONDITIONS OF SALEProspective 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 auction. Addendumswill be attached to the memorandum of saleand form part of the contract of sale. The addendum may have to be signed on behalfof the buyer. Buyers must check with theauctioneer when they arrive at the auction as to whether there are any additions oramendments to the conditions of sale referred to in the addendum relating to thelot they intend to bid for.

IMPORTANT NOTES FOR AUCTION BIDDERS

PLEASE NOTE: General and Special Conditions of sale, Searches and Other Relevant documentation are available from the Auctioneers Offices during normal office hours. Electronic versions of all the legal packs will be available. All prospective buyers will be considered to have inspected the relevant property and have made all necessary and appropriate enquiries based on the information contained within the legal packs.


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A WARM WELCOME

VIEWING INFORMATION

IMPORTANT: Prospective purchasers are advised to attend the viewings at the start time stated. Our representative will be unable to wait for latecomers due to their viewing schedule. All viewers are advised to check availability of any property, prior to commencing their journey. The Auctioneers will not be liable for any costs incurred should a property be sold, or withdrawn, prior to the advertised viewing date. Prospective purchasers are advised that all viewings are conducted at their own risk and The Auctioneers accept no responsibility for accidents, or injury, that may be incurred whilst viewing.

LOT NUMBER AGENT/AUCTIONEER

1 Please contact Woods Bryce Baker, Paignton on 01803 390000

2 Please contact Woods Estate Agents and Auctioneers, Chudleigh on 01626 853940

3 Please contact Woods Estate Agents and Auctioneers, Totnes on 01803 866336

4 Please contact Jefferys, St. Austell on 01726 73483

5 Please contact Jefferys, St. Austell on 01726 73483

6 Please contact Woods Bryce Baker, Torquay on 01803 322997



Welcome to our July auction catalogue which contains some exceptional properties as well as two building plots situated in one of Torquay’s most enviable locations.

Lots 7 and 8 are both being offered for sale with exception site status. In essence, this is a building site where planning consent would not normally be granted. We are also fortunate to be offering Sunny Corner in Enniscaven. This comprises a stone builtfarmhouse which requires completion of modernisation works as well as a Grade II listed thatched cottage all set within a site totalling approximately two acres.

The pretty woodlands at Overbrent will undoubtedly appeal to those who wish to acquire an exceptionally pretty area of woodland with a delightful river frontage onto theRiver Avon.

Our previous auctions this year have yielded some excellent results, and the propertymarket in the South West is stronger than for some time. As always, if you have anyquestions, please don’t hesitate to ask.

Richard Worrall FNAEAProperty Auctioneer

M: 07775 876381

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ORDER OF SALE

CORNWALL

AUCTION TO BE HELD AT:

Jefferys Estate Agents and Auctioneers

18 Duke Street, St Austell,Cornwall

WEDNESDAY 16th JULY 2014, 2pm

LOT Address

4 100 TREGONISSEY ROAD, ST AUSTELL, CORNWALL. PL25 4DS

5 SUNNY CORNER, ENNISCAVEN, ST DENNIS, CORNWALL. PL26 8DE

DEVON


The Teign SuiteNewton Abbot Racecourse

Newton Road, Newton Abbot Devon TQ12 3AF

WEDNESDAY 2nd JULY 2014, 1pm

LOT Address

1 31 BAY VIEW, PRESTON, PAIGNTON, DEVON. TQ3 2DL

2 ELM VIEW, CHUDLEIGH, DEVON. TQ13 0EL

3 OVERBRENT WOOD, SOUTH BRENT, DEVON.

DEVON


The Babbacombe Inn59 Babbacombe Downs Road,

Torquay TQ1 3LP

THURSDAY 24th JULY 2014, 2pm

LOT Address

6 FORMER COACH HOUSE OF ROCK HOUSE, MAIDENCOMBE, TORQUAY, DEVON. TQ1 4SX

7 FORMER KITCHEN GARDEN OF ROCK HOUSE,MAIDENCOMBE, TORQUAY, DEVON. TQ1 4SX

8 DEVELOPMENT SITE AT ROCK HOUSE, MAIDENCOMBE, TORQUAY, DEVON. TQ1 4SX


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FOR INVESTMENT OR OCCUPATION:Delightful two bedroomed mid terraced house in need of modernisation and refurbishmentclose to the seafront.

DESCRIPTION/LOCATIONSituated in a sought after cul-de-sac road and close to allthe amenities and shops Preston has to offer. It is also ashort walk to Preston sea front, green and beach and is anideal location for investors, first time buyers or purchaserswishing to downsize onto the level.

The property itself is now in need of complete refurbishment.

ACCOMMODATIONLounge, Dining Room, Kitchen, Rear Lean-To Porch, Downstairs W.C., Downstairs Shower, Lovely Level RearGarden, 2 Double Bedrooms and a Good Size Bathroom.

TENURE Freehold

VENDORS SOLICITORSBoyce Hatton58 The TerraceTorquayDevon TQ1 1DE

FAO Christine Chant

31 BAY VIEW, PRESTON, PAIGNTON, DEVON. TQ3 2DLLOT 1

Guide Price: £115,000 to £135,000For viewing information please see schedule on page 1.

THE FOLLOWING LOTSARE AVAILABLE AT OUR

DEVON AUCTION Wednesday, 2nd July 2014, 1pm

TO BE HELD AT: THE TEIGN SUITE, NEWTON ABBOT RACECOURSE NEWTON ROAD, NEWTON ABBOT, DEVON TQ12 3AF


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FREEHOLD FOR SALE: A spacious and versatile country property set in parkland gardens extending to approx 1.5 acres.

DESCRIPTION/LOCATIONElm View is located in a delightful position between Chudleigh and ChudleighKnighton adjacent to the grounds of the historic Pitt House, a substantial gothic manor house, which is surrounded by parkland grounds. Originally a bungalow, built approximately 40 years ago, Elm View has been significantly and substantially improved and extended over the years and now provides spaciousand versatile accommodation with a reverse level arrangement which takes advantage of the rural outlook. The gardens and grounds of Elm View are a particular delight, made up from some of the original parkland surrounding PittHouse and is a wonderful arboretum with some fine specimen trees, the most significant being a rare Zelkova Elm. Also within the site is a detached timberchalet providing space for recreation or home working. Other outbuildings include a double garage/workshop and an open fronted implement store.

The sum of the plot extends to approximately 1.5 acres (0.61 ha).

ACCOMMODATION Entrance Porch/Sun Room, Hall, Dining Room, Sitting Room, Kitchen, Utility Room, Rear Entrance Lobby, Rear Porch, Shower Room, Stairs To LowerGround Floor, Master Bedroom With En-Suite Shower Room, Bedroom Two,Bedroom Three, Bedroom Four, Bathroom. Timber Chalet.

Guide Price: £350,000+For viewing information please see schedule on page 1.

ELM VIEW, CHUDLEIGH, DEVON. TQ13 0ELLOT 2

TENURE: Freehold

VENDORS SOLICITORSWBW SolicitorsChurch House, Queen Street, Newton Abbot, Devon. TQ12 2QP

FAO Mr M Setter


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FREEHOLD FOR SALE:A deciduous woodland extending to approximately 13 acreswith a south westerly aspect sloping down and adjoining the River Avon.

DESCRIPTION/LOCATIONAccessed via a bridle path, and with a South Westerly aspect, Overbrent Woodextends to approximately 13 acres of deciduous woodland sloping down andadjoining the River Avon in a glorious position within Dartmoor National Park.Overbrent Wood has a mixture of broadleaf trees including Beech, Oak andAsh. The current owners of Overbrent Wood have spent many hours enjoyingthe woods environment. There is some frontage to the River Avon and on theupper slopes two timber sheds.

DIRECTIONS From South Brent take the road to Aish, Didworthy and Shipley Bridge. After leaving South Brent one reaches Lydia Bridge, proceed for 1.3 miles fromthis point to Didworthy turn. Turn right, cross the bridge and proceed to a turning signed Pinewood Lodge. Proceed along this lane and just after theproperty, Cracklewood, one reaches a parking area just before PinewoodLodges drive. This area has a space allocated to Overbrent Wood. Leave thecar at this point and proceed up the bridle path to the left of Pinewood Lodgefor approximately 150m. Pass through the timber five bar gate and immediately on the right is gate that provides access into Overbrent Wood.

Guide Price: £85,000For viewing information please see schedule on page 1.

OVERBRENT WOOD, SOUTH BRENT, DEVON.LOT 3

VENDORS SOLICITORS: Wollen Michelmore Solicitors, 15-21 Market Street, Newton Abbot,Devon, TQ12 2RN

Tel: 01626 332266

FAO: Margaret Halliwell

LOCAL AUTHORITY & STATUTORY BODIES Dartmoor National Park Authority Parke Bovey Tracey Newton Abbot Devon TQ13 9JQ Tel: 01626 832093 [email protected]

South Hams District Council Follaton House Plymouth Road TotnesDevon TQ9 5DA Tel: 01803 861234 www.southhams.gov.uk

SERVICES No services are connected at the site. Purchasers are to make their own enquiries.


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FOR INVESTMENT OR OCCUPATION:A three bedroom end terraced house in a good residential location which has recentlybeen let, producing £7,500 per annum.

DESCRIPTION/LOCATIONThe property is within approximately a ten minute walk of the town centre and railway station. Nearby is a TescoExpress as well as a local Post Office and butchers. Carclazejunior and infant school is also close by as well as PoltairSecondary School.

ACCOMMODATIONHall, living room, dining room, kitchen, three bedrooms,bathroom, gas central heating, some double glazing, garden.

VENDORS SOLICITORSK J Commons2-6 Upper Jane StreetWorkingtonCumbria CA14 4AY

FAO: Felicity Marsdan

100 TREGONISSEY ROAD, ST AUSTELL, CORNWALL. PL25 4DSLOT 4


THE FOLLOWING LOTSARE AVAILABLE AT OURCORNWALL AUCTION

Wednesday, 16th July 2014, 2pm

TO BE HELD AT: JEFFERYS ESTATE AGENTS AND AUCTIONEERS18 DUKE STREET, ST AUSTELL, CORNWALL


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FREEHOLD FOR SALE:An exceptionally rare opportunity to acquire two propertiesalong with approximately 2 acres of land in this delightful location on the edge of Goss Moor National Nature Reserve.

DESCRIPTION/LOCATIONThe two buildings comprise, an attractive stone built farmhouse which is midway through a refurbishment programme and a Grade II listed thatchedcottage which is in a very poor state of repair. In addition there are two fieldswhich extend beyond the garden area of the properties. In total the housesand land comprise an area in the region of 2 acres.

ACCOMMODATIONStone Farmhouse: Living room, Kitchen/breakfast room, two bedrooms, bathroom, large loft room ( could be used as third bedroom/ study/hobbies room)

Thatched Cottage: three rooms to the ground floor plus utilty area and threerooms to the first floor.

Auctioneers note: it was not possible for the auctioneers to fully inspect theground floor area prior to the publication of the auction catalogue.


SUNNY CORNER, ENNISCAVEN, ST DENNIS, CORNWALL. PL26 8DELOT 5

TENUREFreehold.

VENDORS SOLICITORSGreenways Law19 St Michael’s RoadNewquayCornwall TR7 1LL

Tel: 01637 872361

FAO: Abigail Gardener


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FOR INVESTMENT OR OCCUPATION:In need of renovation and improvement, thisdetached cottage is situated in the grounds ofthis delightful Grade II listed country house.

ACCOMMODATIONThree bedrooms and two bathrooms (one en-suite), living room, farmhouse style kitchen, utility room, courtyard and parking.

TENUREFreehold

VENDORS SOLICITORSDarby and DarbyTudor ChambersFore StreetSt MarychurchTorquayDevon TQ1 4PR

Tel: 01803 313656

FAO: Mr John Darby

FORMER COACH HOUSE OF ROCK HOUSE, MAIDENCOMBE, TORQUAY, DEVON. TQ1 4SXLOT 6

Guide Price: £120,000+For viewing information please see schedule on page 1.

THE FOLLOWING LOTSARE AVAILABLE AT OUR

DEVON AUCTION Thursday, 24th July 2014, 2pm

TO BE HELD AT: THE BABBACOMBE INN59 BABBACOMBE DOWNS ROAD, TORQUAY TQ1 3LP


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FOR DEVELOPMENT:Comprising the former kitchen garden of thisdelightful Grade II listed country house, this is a substantial site within walled boundaries andbenefitting from sea views. The plot has an exception site planning permission for a detached dwelling with full residential use.


Tel: 01803 313656

FAO: Mr John Darby

LOCAL AUTHORITYTorbay CouncilTown HallCastle CircusTorquayDevon TQ1 3DR

FORMER KITCHEN GARDEN OF ROCK HOUSE, MAIDENCOMBE, TORQUAY, DEVON. TQ1 4SXLOT 7


FOR DEVELOPMENT:A good sized building plot extending to approximately an eigth of an acre in thegrounds of this delightful Grade II listed countryhouse with the benefit of sea views. The plothas an exception site planning permission forthe erection of a detached house with full residential use.


Tel: 01803 313656

FAO: Mr John Darby

LOCAL AUTHORITYTorbay CouncilTown HallCastle CircusTorquayDevon TQ1 3DR

DEVELOPMENT SITE AT ROCK HOUSE, MAIDENCOMBE,TORQUAY, DEVON. TQ1 4SXLOT 8


For identification purposes only

For identification purposes only


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Service Provided By The Essential Information Group Ltd Tel: 0870 112 30 40

Legal documents for some of the lots are now or will beavailable online. Where you see the icon on the websiteyou will be able to download the documents.

--- Legal Documents Online ---

LegalsAUCTION

E iLegal Documents

Service provided by The Essential Information Group Ltd Tel: 0870 112 30 40

Any person buying or bidding at auction, MUST produce documentation to confirm their nameand 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.

IMPORTANT NOTICE:MONEY LAUNDERING REGULATIONS

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 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 the auctioneers/agent in writing and will only be 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.

PRE AUCTION OFFERS


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COMMON AUCTION CONDITIONS FOR AUCTIONS OF REAL ESTATE IN ENGLAND AND WALES Edition 3.© Royal Institution of Chartered Surveyors August 2009

INTRODUCTION

The Common Auction Conditions have been produced for realestate auctions in England and Wales to set a common standardacross the industry. They are in three sections:

GlossaryThe glossary gives special meanings to certain words used inboth sets of conditions.

Auction Conduct ConditionsThe Auction Conduct Conditions govern the relationship betweenthe auctioneer and anyone who has a catalogue, or who attendsor bids at the auction. They cannot be changed without the auctioneer’s agreement.

We recommend that these conditions are set out in a two-partnotice to bidders in the auction catalogue, part one containingadvisory 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 andtemplate forms of special conditions of sale, tenancy and arrearsschedules and a sale memorandum.

GLOSSARY

This glossary applies to the auction conduct conditions and thesale conditions.

Wherever it makes sense:

• singular words can be read as plurals, and plurals as singularwords;

• a “person” includes a corporate body;

• words of one gender include the other genders;

• references to legislation are to that legislation as it may havebeen modified or re-enacted by the date of the auction or thecontract date (as applicable); and

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

ACTUAL COMPLETION DATE

The date when completion takes place or is treated as takingplace for the purposes of apportionment and calculating interest.

ADDENDUM

An 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 oralannouncement at the auction.

AGREED COMPLETION DATE

Subject 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 INSTITUTION

Any bank or building society that has signed up to the BankingCode or Business Banking Code or is otherwise acceptable tothe auctioneers.

ARREARS

Arrears of rent and other sums due under the tenancies and stilloutstanding on the actual completion date.

ARREARS SCHEDULE

The arrears schedule (if any) forming part of the special conditions.

AUCTION

The auction advertised in the catalogue.

AUCTION CONDUCT CONDITIONS

The conditions so headed, including any extra auction conductconditions.

AUCTIONEERS

The auctioneers at the auction.

BUSINESS DAY

Any day except (a) a Saturday or a Sunday; (b) a bank holiday inEngland and Wales; or (c) Good Friday or Christmas Day.

BUYER

The person who agrees to buy the lot or, if applicable, that person’s personal representatives: if two or more are jointly thebuyer their obligations can be enforced against them jointly oragainst each of them separately.

CATALOGUE

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

COMPLETION

Unless otherwise agreed between seller and buyer

(or their conveyancers) the occasion when both seller and buyerhave complied with their obligations under the contract and thebalance of the price is unconditionally received in the seller’sconveyancer’s client account.

CONDITION

One of the auction conduct conditions or sales conditions.

CONTRACT

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

CONTRACT DATE

The 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 sellerand buyer; or

(b) if contracts are exchanged, the date of exchange. If exchange is not effected in person or by an irrevocableagreement to exchange made by telephone, fax or electronicmail the date of exchange is the date on which both partshave been signed and posted or otherwise placed beyondnormal retrieval.

DOCUMENTS

Documents of title (including, if title is registered, the entries on theregister and the title plan) and other documents listed or referred toin the special conditions relating to the lot.

FINANCIAL CHARGE

A charge to secure a loan or other financial indebtedness (not including a rent charge).

GENERAL CONDITIONS

That part of the sale conditions so headed, including any extrageneral conditions.

INTEREST RATE If 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.)

LOT

Each separate property described in the catalogue or (as thecase may be) the property that the seller has agreed to sell andthe buyer to buy (including chattels, if any).

OLD ARREARS

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

PARTICULARS

The section of the catalogue that contains descriptions of eachlot (as varied by any addendum).

PRACTITIONER

An insolvency practitioner for the purposes of the Insolvency Act1986 (or, in relation to jurisdictions outside the United Kingdom,any similar official).

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 to discharge all financial charges secured onthe lot that have to be discharged by completion, then thoseoutstanding financial charges do not prevent the seller frombeing ready to complete.

SALE CONDITIONS

The general conditions as varied by any special conditions oraddendum.

SALE MEMORANDUM

The form so headed (whether or not set out in the catalogue) inwhich the terms of the contract for the sale of the lot are recorded.

SELLER

The person selling the lot. If two or more are jointly the sellertheir obligations can be enforced against them jointly or againsteach of them separately.

SPECIAL CONDITIONS

Those of the sale conditions so headed that relate to the lot.

TENANCIES

Tenancies, leases, licences to occupy and agreements for leaseand any documents varying or supplemental to them.

TENANCY SCHEDULE

The tenancy schedule (if any) forming part of the special conditions.

TRANSFER

Transfer includes a conveyance or assignment (and “to transfer”includes “to convey” or “to assign”).

TUPE

The Transfer of Undertakings (Protection of Employment) Regulations 2006.

VAT

Value Added Tax or other tax of a similar nature.

VAT OPTION

An option to tax.

WE (AND US AND OUR)

The auctioneers.

YOUR (AND YOUR)

Someone who has a copy of the catalogue or who attends orbids at the auction, whether or not a buyer.

AUCTION CONDUCT CONDITIONS

A1 Introduction

A1.1 Words in bold blue type have special meanings, which aredefined in the Glossary.

A1.2 The catalogue is issued only on the basis that you acceptthese auction conduct conditions. They govern our relationship with you and cannot be disapplied or variedby the sale conditions (even by a condition purporting toreplace the whole of the Common Auction Conditions).They can be varied only if we agree.

A2 Our role

A2.1 As agents for each seller we have authority to:

(a) prepare the catalogue from information supplied by oron 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 signa sale memorandum or pay a deposit as required bythese 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 lotsare offered for sale. We may also combine or divide lots. Alot may be sold or withdrawn from sale prior to the auction.

A2.4 You acknowledge that to the extent permitted by law weowe you no duty of care and you have no claim againstus for any loss.

A3 Bidding and reserve prices

A3.1 All bids are to be made in pounds sterling exclusive of anyapplicable VAT.

A3.2 We may refuse to accept a bid. We do not have to explainwhy.

A3.3 If there is a dispute over bidding we are entitled to resolveit, and our decision is final.

A3.4 Unless stated otherwise each lot is subject to a reserveprice (which may be fixed just before the lot is offered forsale). If no bid equals or exceeds that reserve price the lotwill be withdrawn from the auction.

A3.5 Where there is a reserve price the seller may bid (or askus or another agent to bid on the seller’s behalf) up to thereserve price but may not make a bid equal to or exceed-ing the reserve price. You accept that it is possible that allbids up to the reserve price are bids made by or on behalfof the seller.

A3.6 Where a guide price (or range of prices) is given that guideis the minimum price at which, or range of prices withinwhich, the seller might be prepared to sell at the date ofthe guide price. But guide prices may change. The lastpublished guide price will normally be at or above any re-serve price, but not always – as the seller may fix the finalreserve price just before bidding commences.

A4 The particulars and other information

A4.1 We have taken reasonable care to prepare particularsthat correctly describe each lot. The particulars arebased on information supplied by or on behalf of theseller. You need to check that the information in theparticulars is correct.

A4.2 If the special conditions do not contain a description ofthe lot, or simply refer to the relevant lot number, you takethe risk that the description contained in the particulars isincomplete or inaccurate, as the particulars have notbeen prepared by a conveyancer and are not intended toform part of a legal contract.

A4.3 The particulars and the sale conditions may changeprior to the auction and it is your responsibility to checkthat 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 arenot responsible for the accuracy of that information ordocument.

A5 The contract

A5.1 A successful bid is one we accept as such (normally onthe fall of the hammer). This condition A5 applies to you ifyou make the successful bid for a lot.

A5.2 You are obliged to buy the lot on the terms of the salememorandum 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

COMMON AUCTION CONDITIONS


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enable us to complete the sale memorandum (includingproof 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 yourrepudiation of the contract and offer the lot for saleagain: the seller may then have a claim against youfor 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 bechargeable on the deposit were it to be held as agentfor the seller, but otherwise is to be held as stated inthe sale conditions; and

(b) must be paid in pounds sterling by cheque or bybankers’ 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 onbehalf of the seller until the deposit has been received incleared funds.

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

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

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

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

A6 Extra auction conduct conditions

A6.1 Despite any special condition to the contrary the minimum deposit we accept is £2000 (or the total price, if less). A special condition may, however, require ahigher minimum deposit.

A6.2 The deposit will be held by the auctioneers as agents forthe seller unless the sale is subject to VAT when it will beheld as stakeholder.

GENERAL CONDITIONS OF SALE

Words in bold blue type have special meanings, which aredefined in the Glossary.

The general conditions (including any extra general conditions)apply to the contract except to the extent that they are varied byspecial conditions or by an addendum.

G1. The lot

G1.1 The lot (including any rights to be granted or reserved,and any exclusions from it) is described in the specialconditions, or if not so described the lot is that referredto in the sale memorandum.

G1.2 The lot is sold subject to any tenancies disclosed by thespecial conditions, but otherwise with vacant possessionon completion.

G1.3 The lot is sold subject to all matters contained or referredto in the documents, but excluding any financialcharges: these the seller must discharge on or beforecompletion.

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

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

(b) matters registered or capable of registration by anycompetent authority or under the provisions of anystatute;

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

(d) charges, notices, orders, restrictions, agreements andother 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 theLand Registration Act 2002;

(h) matters that ought to be disclosed by the searchesand enquiries a prudent buyer would make, whetheror not the buyer has made them; and

(i) anything the seller does not and could not reasonablyknow 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 competentauthority of which it learns after the contract date but the buyer must comply with them and keep the sellerindemnified.

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

G1.8 Where chattels are included in the lot the buyer takesthem as they are at completion and the seller is not liableif they are not fit for use.

G1.9 The buyer buys with full knowledge of:

(a) the documents, whether or not the buyer has readthem; and

(b) the physical condition of the lot and what could rea-sonably be discovered on inspection of it, whether ornot the buyer has inspected it.

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

G2. Deposit

G2.1 The amount of the deposit is the greater of:

(a) any minimum deposit stated in the auction conductconditions (or the total price, if this is less than thatminimum); 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’sdraft drawn on an approved financial institution (orby any other means of payment that the auctioneersmay accept); and

(b) is to be held as stakeholder unless the auction con-duct conditions provide that it is to be held as agentfor the seller.

G2.3 Where the auctioneers hold the deposit as stakeholderthey are authorised to release it (and interest on it if appli-cable) to the seller on completion or, if completion doesnot take place, to the person entitled to it under the saleconditions.

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

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

G3. Between contract and completion

G3.1 Unless the special conditions state otherwise, the selleris to insure the lot from and including the contract date tocompletion and:

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

(b) pay the premiums when due;

(c) if the buyer so requests, and pays any additional pre-mium, use reasonable endeavours to increase the suminsured or make other changes to the policy;

(d) at the request of the buyer use reasonable endeav-ours to have the buyer’s interest noted on the policy ifit does not cover a contracting purchaser;

(e) unless otherwise agreed, cancel the insurance atcompletion, apply for a refund of premium and (sub-ject to the rights of any tenant or other third party) paythat 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 paymentsthat the seller receives in respect of loss or damagearising after the contract date or assign to the buyerthe benefit of any claim; and the buyer must on com-pletion reimburse to the seller the cost of that insur-ance (to the extent not already paid by the buyer or atenant or other third party) for the period from and in-cluding the contract date to completion.

G3.2 No damage to or destruction of the lot nor any deteriora-tion in its condition, however caused, entitles the buyer toany reduction in price, or to delay completion, or to re-fuse 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 thelot the buyer has no right to enter into occupation prior tocompletion.

G4. Title and identity

G4.1 Unless condition G4.2 applies, the buyer accepts the titleof the seller to the lot as at the contract date and mayraise no requisition or objection except in relation to anymatter that occurs after the contract date.

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

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

(b) If the lot is registered land the seller is to give to thebuyer within five business days of the contract datean official copy of the entries on the register and titleplan and, where noted on the register, of all documentssubject to which the lot is being sold.

(c) If the lot is not registered land the seller is to give tothe buyer within five business days an abstract orepitome of title starting from the root of title mentionedin the special conditions (or, if none is mentioned, agood root of title more than fifteen years old) and mustproduce to the buyer the original or an examined copyof every relevant document.

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

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

(ii) the documents accompanying that application;

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

(iv) a letter under which the seller or its conveyanceragrees to use all reasonable endeavours to answer any requisitions raised by the land registryand 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 requisi-tions on any title information more than seven businessdays after that information has been given to thebuyer.

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

(a) the covenant set out in section 3 of the Law of Prop-erty (Miscellaneous Provisions) Act 1994 shall not extend to matters recorded in registers open to publicinspection; these are to be treated as within the actualknowledge of the buyer; and

(b) the covenant set out in section 4 of the Law of Prop-erty (Miscellaneous Provisions) Act 1994 shall not extend to any condition or tenant’s obligation relatingto the state or condition of the lot where the lot isleasehold property.

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

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

G4.6 The seller (and, if relevant, the buyer) must produce toeach other such confirmation of, or evidence of, their iden-tity and that of their mortgagees and attorneys (if any) as isnecessary for the other to be able to comply with applica-ble Land Registry Rules when making application for regis-tration of the transaction to which the conditions apply.

G5. Transfer

G5.1 Unless a form of transfer is prescribed by the specialconditions:

(a) the buyer must supply a draft transfer to the seller atleast ten business days before the agreed completiondate and the engrossment (signed as a deed by thebuyer if condition G5.2 applies) five business daysbefore that date or (if later) two business days afterthe draft has been approved by the seller; and

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

G5.2 If the seller remains liable in any respect in relation to thelot (or a tenancy) following completion the buyer is specifi-cally to covenant in the transfer to indemnify the selleragainst that liability.

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

G6. Completion

G6.1 Completion is to take place at the offices of the seller’sconveyancer, or where the seller may reasonably require,on the agreed completion date. The seller can only berequired to complete on a business day and between thehours of 0930 and 1700.

G6.2 The amount payable on completion is the balance of theprice adjusted to take account of apportionments plus (ifapplicable) 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, comple-tion cannot take place until both have complied with theirobligations under the contract and the balance of theprice is unconditionally received in the seller’s conveyancer’sclient account.

COMMON AUCTION AND GENERAL CONDITIONS


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GENERAL CONDITIONS (CONT.D.)

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

G6.6 Where applicable the contract remains in force followingcompletion.

G7. Notice to completeG7.1 The seller or the buyer may on or after the agreed com-

pletion date but before completion give the other noticeto complete within ten business days (excluding the dateon 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 theseller may, without affecting any other remedy the sellerhas:

(a) terminate the contract;

(b) claim the deposit and any interest on it if held by astakeholder;

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

(a) terminate the contract; and

(b) recover the deposit and any interest on it from theseller 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 ap-points the seller its agent to cancel any registration of thecontract; and

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

G9. Landlord’s licence

G9.1 Where the lot is or includes leasehold land and licence toassign is required this condition G9 applies.

G9.2 The contract is conditional on that licence being ob-tained, by way of formal licence if that is what the landlordlawfully requires.

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

G9.4 The seller must:

(a) use all reasonable endeavours to obtain the licence atthe seller’s expense; and

(b) enter into any authorised guarantee agreement prop-erly required.

G9.5 The buyer must:

(a) promptly provide references and other relevant infor-mation; and

(b) comply with the landlord’s lawful requirements.

G9.6 If within three months of the contract date (or such longerperiod as the seller and buyer agree) the licence has notbeen obtained the seller or the buyer may (if not then inbreach of any obligation under this condition G9) by no-tice to the other terminate the contract at any time beforelicence is obtained. That termination is without prejudiceto the claims of either seller or buyer for breach of thiscondition G9.

G10. Interest and apportionments

G10.1 If the actual completion date is after the agreed com-pletion date for any reason other than the seller’s defaultthe buyer must pay interest at the interest rate on theprice (less any deposit paid) from the agreed completiondate up to and including the actual completion date.

G10.2 Subject to condition G11 the seller is not obliged to ap-portion or account for any sum at completion unless theseller has received that sum in cleared funds. The sellermust pay to the buyer after completion any sum to whichthe buyer is entitled that the seller subsequently receivesin cleared funds.

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

(a) the buyer is liable to pay interest; and

(b) the seller has given notice to the buyer at any time upto completion requiring apportionment on the date fromwhich interest becomes payable by the buyer; in whichevent income and outgoings are to be apportioned on thedate 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 outgoingsfor the whole of the day on which apportionment is to bemade;

(b) annual income and expenditure accrues at an equal

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

(c) where the amount to be apportioned is not known atcompletion apportionment is to be made by reference toa reasonable estimate and further payment is to be madeby seller or buyer as appropriate within five businessdays of the date when the amount is known.

G11. Arrears

Part 1 Current rent

G11.1 “Current rent” means, in respect of each of the tenanciessubject to which the lot is sold, the instalment of rent andother sums payable by the tenant in advance on the mostrecent rent payment date on or within four months pre-ceding completion.

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

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

Part 2 Buyer to pay for arrears

G11.4 Part 2 of this condition G11 applies where the specialconditions give details of arrears.

G11.5 The buyer is on completion to pay, in addition to anyother money then due, an amount equal to all arrears ofwhich details are set out in the special conditions.

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

Part 3 Buyer not to pay for arrears

G11.7 Part 3 of this condition G11 applies where the specialconditions:

(a) so state; or

(b) give no details of any arrears.

G11.8 While any arrears due to the seller remain unpaid thebuyer must:

(a) try to collect them in the ordinary course of manage-ment but need not take legal proceedings or forfeit thetenancy;

(b) pay them to the seller within five business days of re-ceipt in cleared funds (plus interest at the interest ratecalculated on a daily basis for each subsequent day’sdelay in payment);(c) on request, at the cost of the seller, assign to theseller or as the seller may direct the right to demand andsue for old arrears, such assignment to be in such formas the seller’s conveyancer may reasonably require;

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

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

(f) if the buyer disposes of the lot prior to recovery of allarrears obtain from the buyer’s successor in title acovenant in favour of the seller in similar form to part 3 ofthis condition G11.

G11.9 Where the seller has the right to recover arrears it mustnot without the buyer’s written consent bring insolvencyproceedings against a tenant or seek the removal ofgoods from the lot.

G12. Management

G12.1 This condition G12 applies where the lot is sold subjectto tenancies.

G12.2 The seller is to manage the lot in accordance with itsstandard management policies pending completion.

G12.3 The seller must consult the buyer on all management is-sues that would affect the buyer after completion (suchas, but not limited to, an application for licence; a rent re-view; a variation, surrender, agreement to surrender orproposed forfeiture of a tenancy; or a new tenancy oragreement to grant a new tenancy) and:

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

(b) if the seller gives the buyer notice of the seller’s in-tended act and the buyer does not object within five busi-ness days giving reasons for the objection the seller mayact as the seller intends; and

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

G13. Rent deposits

G13.1 This condition G13 applies where the seller is holding orotherwise entitled to money by way of rent deposit in re-spect of a tenancy. In this condition G13 “rent deposit

deed” means the deed or other document under whichthe rent deposit is held.

G13.2 If the rent deposit is not assignable the seller must oncompletion hold the rent deposit on trust for the buyerand, subject to the terms of the rent deposit deed, complyat the cost of the buyer with the buyer’s lawful instructions.

G13.3 Otherwise the seller must on completion pay and assignits interest in the rent deposit to the buyer under an as-signment in which the buyer covenants with the seller to:

(a) observe and perform the seller’s covenants and condi-tions in the rent deposit deed and indemnify the seller inrespect of any breach;

(b) give notice of assignment to the tenant; and

(c) give such direct covenant to the tenant as may be re-quired by the rent deposit deed.

G14. VAT

G14.1 Where a sale condition requires money to be paid orother consideration to be given, the payer must also payany VAT that is chargeable on that money or considera-tion, but only if given a valid VAT invoice.

G14.2 Where the special conditions state that no VAT optionhas been made the seller confirms that none has beenmade by it or by any company in the same VAT group norwill be prior to completion.

G15. Transfer as a going concern

G15.1 Where the special conditions so state:

(a) the seller and the buyer intend, and will take all practi-cable steps (short of an appeal) to procure, that the sale istreated as a transfer of a going concern; and

(b) this condition G15 applies.

G15.2 The seller confirms that the seller

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

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

G15.3 The buyer confirms that:

(a) it is registered for VAT, either in the buyer’s name or asa member of a VAT group;

(b) it has made, or will make before completion, a VAToption in relation to the lot and will not revoke it before orwithin 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 be-fore 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 HMRevenue and Customs; and if it does not produce the relevant evidence at least two business days before theagreed completion date, condition G14.1 applies atcompletion.

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

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

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

G15.6 If, after completion, it is found that the sale of the lot isnot a transfer of a going concern then:

(a) the seller’s conveyancer is to notify the buyer’s con-veyancer of that finding and provide a VAT invoice in re-spect of the sale of the lot;

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

(c) if VAT is payable because the buyer has not compliedwith this condition G15, the buyer must pay and indem-nify the seller against all costs, interest, penalties or sur-charges that the seller incurs as a result.

G16. Capital allowances

G16.1 This condition G16 applies where the special conditionsstate that there are capital allowances available in respectof the lot.

G16.2 The seller is promptly to supply to the buyer all informa-tion reasonably required by the buyer in connection withthe buyer’s claim for capital allowances.

G16.3 The value to be attributed to those items on which capitalallowances may be claimed is set out in the special con-ditions .

G16.4 The seller and buyer agree:

(a) to make an election on completion under Section 198of the Capital Allowances Act 2001 to give effect to thiscondition G16; and


15

GENERAL CONDITIONS (CONT.D.)

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

G17. Maintenance agreements

G17.1 The seller agrees to use reasonable endeavours to transferto the buyer, at the buyer’s cost, the benefit of the mainte-nance 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 ac-tual completion date.

G18. Landlord and Tenant Act 1987

G18.1 This condition G18 applies where the sale is a relevantdisposal for the purposes of part I of the Landlord andTenant Act 1987.

G18.2 The seller warrants that the seller has complied with sec-tions 5B and 7 of that Act and that the requisite majority ofqualifying tenants has not accepted the offer.

G19. Sale by practitionerG19.1 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 thefirm to which the practitioner belongs has any personal liability in connection with the sale or the performance ofthe 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 toterminate the contract or any other remedy if informationprovided about the lot is inaccurate, incomplete or missing.

G19.5 Where relevant:

(a) the documents must include certified copies of thoseunder which the practitioner is appointed, the documentof appointment and the practitioner’s acceptance of appointment; and

(b) the seller may require the transfer to be by the lenderexercising its power of sale under the Law of Property Act1925.

G19.6 The buyer understands this condition G19 and agreesthat it is fair in the circumstances of a sale by apractitioner.

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

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

G20.2 If the special conditions do not state “There are no em-ployees to which TUPE applies” the following paragraphsapply:

(a) The seller must notify the buyer of those employeeswhose contracts of employment will transfer to the buyeron completion (the “Transferring Employees”). This notifi-cation must be given to the buyer not less than 14 daysbefore completion.

(b) The buyer confirms that it will comply with its obliga-tions under TUPE and any special conditions in respectof the Transferring Employees.

(c) The buyer and the seller acknowledge that pursuantand subject to TUPE, the contracts of employment be-tween the Transferring Employees and the seller willtransfer to the buyer on completion.

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

G21. Environmental

G21.1 This condition G21 only applies where the special con-ditions so provide.

G21.2 The seller has made available such reports as the sellerhas as to the environmental condition of the lot and hasgiven 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 thatthe price takes into account the environmental conditionof the lot.

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

G22. Service Charge

G22.1 This condition G22 applies where the lot is sold subjectto tenancies that include service charge provisions.

G22.2 No apportionment is to be made at completion in respectof service charges.

G22.3 Within two months after completion the seller must provide to the buyer a detailed service charge account forthe service charge year current on completion showing:

(a) service charge expenditure attributable to each

tenancy;

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

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

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

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

(a) payments on account (whether received or still then duefrom a tenant) exceed attributable service charge expendi-ture, the seller must pay to the buyer an amount equal tothe excess when it provides the service charge account;

(b) attributable service charge expenditure exceeds payments on account (whether those payments havebeen received or are still then due), the buyer must use allreasonable endeavours to recover the shortfall from thetenant at the next service charge reconciliation date andpay the amount so recovered to the seller within fivebusiness days of receipt in cleared funds; but in respectof payments on account that are still due from a tenantcondition G11 (arrears) applies.

G22.5 In respect of service charge expenditure that is not attrib-utable to any tenancy the seller must pay the expenditureincurred in respect of the period before actual comple-tion date and the buyer must pay the expenditure in-curred in respect of the period after actual completiondate. Any necessary monetary adjustment is to be madewithin 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 accountof future service charge expenditure or a depreciation fund:

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

(b) the buyer must covenant with the seller to hold it inaccordance 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 beforethe actual completion date has not been agreed or de-termined.

G23.2 The seller may continue negotiations or rent review pro-ceedings up to the actual completion date but may notagree the level of the revised rent or commence rent reviewproceedings 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 re-view negotiations or proceedings as soon as reasonablypracticable but may not agree the level of the revised rentwithout the written consent of the seller, such consent notto be unreasonably withheld or delayed.

G23.4 The seller must promptly:

(a) give to the buyer full details of all rent review negotia-tions and proceedings, including copies of all correspon-dence and other papers; and

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

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

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

G23.7 If a rent review is agreed or determined before comple-tion but the increased rent and any interest recoverablefrom the tenant has not been received by completion theincreased rent and any interest recoverable is to betreated as arrears.

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

G24. Tenancy renewals

G24.1 This condition G24 applies where the tenant under atenancy has the right to remain in occupation under part IIof the Landlord and Tenant Act 1954 (as amended) andreferences to notices and proceedings are to notices andproceedings under that Act.

G24.2 Where practicable, without exposing the seller to liabilityor penalty, the seller must not without the written consentof the buyer (which the buyer must not unreasonablywithhold or delay) serve or respond to any notice or beginor continue any proceedings.

G24.3 If the seller receives a notice the seller must send a copyto the buyer within five business days and act as thebuyer 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 pro-ceedings or negotiations for the renewal of the tenancyand the determination of any interim rent as soon as rea-sonably practicable at the best rent or rents reasonablyobtainable; 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 re-lates to the seller’s period of ownership of the lot withinfive business days of receipt of cleared funds.

G24.5 The seller and the buyer are to bear their own costs in re-lation to the renewal of the tenancy and any proceedingsrelating 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 noticeof assignment to the person who gave the warranty; and

(b) apply for (and the seller and the buyer must use allreasonable endeavours to obtain) any consent to assignthat is required. If consent has not been obtained bycompletion the warranty must be assigned within fivebusiness days after the consent has been obtained.

G25.3 If a warranty is not assignable the seller must after com-pletion:

(a) hold the warranty on trust for the buyer; and

(b) at the buyer’s cost comply with such of the lawful in-structions of the buyer in relation to the warranty as donot place the seller in breach of its terms or expose theseller to any liability or penalty.

G26. No assignment

The buyer must not assign, mortgage or otherwise trans-fer or part with the whole or any part of the buyer’s inter-est under this contract.

G27. Registration at the Land Registry

G27.1 This condition G27.1 applies where the lot is leaseholdand its sale either triggers first registration or is a registra-ble disposition. The buyer must at its own expense andas soon as practicable:

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

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

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

G27.2 This condition G27.2 applies where the lot comprises partof a registered title. The buyer must at its own expenseand as soon as practicable:

(a) apply for registration of the transfer;

(b) provide the seller with an official copy and title plan forthe buyer’s new title; and

(c) join in any representations the seller may properlymake to Land Registry relating to the application.

G28. Notices and other communications

G28.1 All communications, including notices, must be in writing.Communication to or by the seller or the buyer may begiven 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 salememorandum) by a postal service that offers normally todeliver 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 businessday a communication is to be treated as received on thenext business day.

G28.4 A communication sent by a postal service that offers nor-mally to deliver mail the next following business day willbe treated as received on the second business day afterit has been posted.

G29. Contracts (Rights of Third Parties) Act 1999

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


16

AUTHORISATION FORM FOR BIDDING BY TELEPHONE OR PROXY

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

2. The form must be delivered to auctioneers/agent at least 24 hours prior to the start of theAuction together with the appropriate paymentas 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 bankersdraft.

Cheques can only be accepted if provided to theAuctioneers in sufficient time to be clearedthrough the banking system prior to the Auction.

4. In the case of proxy bid the Bidder hereby authorises the Auctioneers or their staff to bid ontheir behalf as their agent up to the maximumamount of the authorised bid.The whole of theBidder’s deposit will be used as deposit towardthe 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 theAuctioneers’ staff will attempt to contact the Bidder by telephone before the lot in question isoffered for sale. If contact is made the Biddermay compete in the bidding through the Auctioneers’ staff. However if telephone contactcannot be made or the connection is lost theBidder hereby authorises the Auctioneers andtheir 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 lessthan the guide price t he whole of the Bidder’sdeposit will be used as a deposit towards thepurchase price. If the Bidder is unsuccessful thefull 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 Memo-randum of Agreement on their behalf.

7. If the bidder wishes to withdraw or alter his instructions or to attend the Auctions to bid it istheir responsibility to notify the Auctioneers inwriting before the auction and to also notify theauctioneer in charge of the Auction before the lotin question is offered for sale.

8. The Auctioneers shall not be liable for any fail-ure to bid due to inadequate or unclear instruc-tions being received or for any other reasons.The Auctioneers have absolute discretion as towhether or not and in what manner to bid.

9. The Bidder is deemed to have full knowledge ofthe General and Special Conditions of Sale andthe Notice to All Prospective Buyers herein. TheBidder is also deemed to have full knowledge ofany addendum produced by the Auctioneers atthe prior of the Auction. The Bidder is thereforeadvised to check whether any relevant adden-dum has or will be produced but the auctioneerswill not be liable to the Bidder if he fails to check.

TERMS & CONDITIONS FOR BIDDING BY TELEPHONE OR PROXY

Telephone . . . . Proxy . . . . (please tick)

Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

Telephone Nos. Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

I hereby authorise the Auctioneers to bid on my behalf whether by proxy or by telephone for the property referred to below subject to Termsand Conditions for Bidding by Telephone or by Proxy published in the Auctioneers’ catalogue and subject also to the General Conditions ofSale and the Special Conditions of Sale applicable and any addendum produced at or prior to the auction.

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

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

Lot Number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Maximum bid £ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (figures)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Pounds (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 Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

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

Solicitors Telephone No. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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


I/WE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

TEL NOS: HOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MOBILE/BUSINESS . . . . . . . . . . . . . . . . . . . . .

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

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , 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.

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: . . . . . . . . . . . . . . . . . . . . . . . .

Date this . . . . . . . . . . . . . . . . . . . . . . . day of . . . . . . . . . . . . . . . . . . . . . . . 2014

Purchase Money: £ . . . . . . . . . . . . . . . . . .

Administration Charge /

Buyers Premium: £ . . . . . . . . . . . . . . . . . .

____________________

Sub-Total: £ . . . . . . . . . . . . . . . . . .

Less Deposit: £ . . . . . . . . . . . . . . . . . .

Balance to Pay: £ . . . . . . . . . . . . . . . . . .

Signed by the buyer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

MEMORANDUM OF SALE


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WestcountryTeam Ltd9 Sandpiper Court,Harrington Lane,Pinhoe,Exeter EX4 8NS Tel: 01392 463800

FUTURE AUCTIONS 2014: 17 SEPTEMBER | 29 OCTOBER | 3 DECEMBER

AUCTION VENUE:The Teign Suite, Newton Abbot Racecourse, Newton Road, Newton Abbot, Devon. TQ12 3AFTel: 01626 353235

AUCTION VENUE:Jefferys Estate Agents and Auctioneers,18 Duke Street, St Austell,Cornwall Tel: 01726 73483

AUCTION VENUE:The Babbacombe Inn,59 Babbacombe Downs Road,Torquay TQ1 3LPTel: 01803 316200


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