Site / Garages Terry Road, Stoke, Coventry, West

Midlands CV1 2BA

*Guide Price: £160,000 - £180,000

FOR SALE BY PUBLIC AUCTION

(Subject to Prior Sale and Conditions)Village Urban Resort, Dolomite Avenue, Canley, Coventry, CV4 9GZ

On 15th September 2016 at 6.30pm

Site comprising 26 garages (mostly vacant / dilapidated). Potential for development (subject toconsents). Site approx 0.2 acres.

To view all of our properties for sale by auction, just visit www.loveitts.co.uk

LOCATION

The site is located on Terry Road. In the Stoke area of Coventry,off Humber Avenue.

PLANNING

For all enquiries regarding potential uses please contactCoventry City Council:Tel: 02476 831109

Web: www.coventry.gov.uk/planningapplications

Email: planning@coventry.gov.uk

TENURE

Freehold subject to tenancies.8 garages currently tenanted, on a monthly rolling basis.

PHOTOS (A selection of photos can be found on our web sitewww.loveitts.co.uk)

LOCATION MAP

(For identification purposes only and does not form part of the contract}

LEGAL INFORMATION

If you wish to view the legal information relating to thisproperty please do not hesitate to contact Loveitts AuctionDepartment or visit our web site www.loveitts.co.uk andregister for ‘Auction Passport’ by following the instructionsafter clicking on the ‘LEGAL DOCUMENTS’ button on theright hand side. The legal information is also available viaa HARD COPY which is stored in our office at Coventryand available to view within the office.

*GUIDE PRICE & RESERVE PRICE

Guide Price ranges are provided as an indication of thesellers minimum expectations. They are not necessarilyfigures that the property will sell for and may change atany time prior to the auction. Each property will be subjectto a Reserve Price which is the figure below which theauctioneer cannot sell the property at auction. TheReserve Price will be no higher than the upper end of theGuide Price range.

BUYER’S PREMIUM

(To be paid along with the 10% deposit)

Guide Price up to £20,000 - Buyers Premium £450 (inc VAT)Guide Price £20,001 to £250,000 - Buyers Premium £600 (inc VAT)Guide Price £250,001 - Buyers Premium £840 (inc VAT)

DEPOSIT PAYMENTS CAN BE MADE BY EITHER:

• Personal cheque• Bankers Draft or Building Society cheque

• Debit card ONLY

SHOULD YOUR BID BE SUCCESSFUL YOU WILL NEED TO PAY 10% DEPOSIT PLUS THE BUYERS PREMIUM.

PLUS

PROOF OF ADDRESS

1. Recent utility bill (issued in the last 3 months)

or

2. Bank or Building Society statement

PHOTOGRAPHIC PROOF OF IDENTITY

1. Current signed passport

or

2. Current full UK Driving Licence

IMPORTANT NOTICE FOR POTENTIAL PURCHASERS

TO COMPLY WITH ANTI MONEY LAUNDERING REGULATIONS, LOVEITTS MUST VERIFY THE IDENTITY OF ALLPURCHASERS. THEREFORE, IF YOU INTEND ON BIDDING PLEASE BRING WITH YOU:

1. The attention of prospective purchasers is drawn to the general and special conditions of sale which are available for inspectionat the of fice of the Vendors Solicitors and at the office of the Auctioneers, plus any addendums that are issued prior to or on thenight of the auction.

2. Prospective purchasers shall be deemed to have inspected the relevant property. The vendor’s solicitors will provide a contractpack including the usual necessary searches and enquiries with all relevant authorities and other bodies. This is available forinspection at the Auctioneers office, during normal business hours. It is advisable to arrange for a survey of the property prior tothe Auction.

3. As soon as the Auctioneers gavel falls on a bid, the successful bidder is under a binding contract to purchase the relevant property.The purchaser is immediately at risk in relation to the property and should therefore have confirmed bank or building society financearranged (if required) and will also be deemed to have made prior arrangements for any insurance cover that is required.Completion will occur 28 days after exchange, unless otherwise specified.

4. On a property being knocked down, the successful bidder must immediately present to the Auctioneers Clerk his name andaddress and if appropriate, the name and address of the person or company on whose behalf he has been bidding, also the2 forms of identification requested concerning the Money Laundering Act 2007 - this information is detailed separately.

5. The successful bidder must sign and exchange contracts with the Vendors Solicitors prior to leaving the room and at the sametime pay to the Solicitor a deposit of 10% of the purchase price plus the Buyer’s Premium. In default of any of the above,the Auctioneer shall be entitled as Agent for the Vendors, to treat the failure or default as repudiation and rescind the contract.Thereafter the Auctioneer shall be entitled to re-submit the property for sale and if a successful bidder does not pay a depositand/or complete the memorandum the Vendor reserves the right to claim any loss he suffers as a result.

6. The Vendor has a right to sell before Auction or withdraw the Lot and neither the Auctioneer nor the Vendor is responsible for anyabortive costs, loss or damages incurred by a prospective purchaser in these circumstances. Information as to prior sale or thewithdrawal of a Lot can be obtained from the Auctioneers at any time prior to the Auction but vaild only at the time of enquiry.

7. Prospective purchasers are strongly advised to check any sales particulars as to measurements, areas and all other matters towhich the properties are expressed to be subject to and have the benefit of. In respect of any contents,fixtures and fittings,expressed to be included within the sale an inspection of the property must be made, and the Legal Information provided by thevendors solicitors must be inspected. All measurements and areas referred to in this catalogue are approximate only.

8. All location plans published in the particulars of sale are to enable prospective purchasers to locate the property only. The plansare photographically reproduced and therefore not to scale and are not intended to depict the interest to be sold but are foridentification purposes only. The boundary lines and numbers on the photographs are again only to enable prospective purchasersto locate the property and are not intended to depict the interest to be sold. Purchasers are advised to view the special conditionsin respect of the precise interest to be conveyed.

9. Any guide prices or any estimates or values mentioned in negotiations or discussions with the Auctioneers or any of theirrepresentatives cannot be relied upon by a prospective purchaser as representing professional valuations for any purpose inaccordance with the requirements on guidance notes of relevant professional bodies or other authorities. In all respects prospectivepurchasers are deemed to have relied upon their own knowledge or the advice of their own professional or other advisors.

10. Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that theproperty will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which isthe figure below which the auctioneer cannot sell the property below, at auction. The reserve price will be no higher than the upperend of the Guide Price range.

11. Bids may be refused at the Auctioneer’s discretion. The Auctioneers reserve the right to bid on behalf of the Vendor up to thereserve.

12. Inspection of investment properties is courtesy of the tenant. Inspection of properties with vacant possession only by arrangementwith the Auctioneers. Interested parties should ring the office to discuss viewing arrangements or book keys before making theirjourney.

13. Properties sold at auction are not normally cleared of furniture and effects on completion.

14. Property Insurance: Please refer to contract information for confirmation as to the responsibility of insurance of the property inbetween exchange and completion.

For further guidance to Buying at Auction please visit our website: loveitts.co.uk.

Important Notice to Bidders

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Loveitts, 29 Warwick Row, Coventry, CV1 1DY

Tel: 024 7652 7789 E: auctions@loveitts.co.uk www.loveitts.co.uk