METCALFS AUCTION BOOKLET - MAY 11 - Metcalf Estate Agents

Mestate agents & auctioneersFREECOPYPROPERTYAUCTIONFriday 20th May 2011At 11.00amMACDONALD TICKLED TROUT HOTELPRESTON NEW ROAD, PRESTON, PR5 OUJAUCTIONEERJohn Clarke

NOTICE TO PROSPECTIVE BUYERSPROSPECTIVE BUYERS WISHING TO BID BY PROXYSHOULD CONTACT THE AUCTIONEERS AT LEAST 5DAYS PRIOR TO SALEMetcalf's (“the Auctioneers”) for themselves and for the sellersof the properties to be offered herein draw the attention ofprospective buyers to the following information:1. All lots are subject to the Common AuctionConditions as printed herein and the SpecialConditions (if any) applicable to each particular Lot.If there is any conflict between the contents of theCommon Auction Conditions and the SpecialConditions and the contents of this Notice theSpecial Conditions shall prevail. Details of theSpecial Conditions are available upon enquiry tothe solicitors whose name appears against eachindividual Lot, or the Auctioneers offices one weekprior to the sale date or will be available at the timeand place of the Auction.2. Prospective buyers intending to attend the Auction tobid are advised to contact the Auctioneers prior tothe sale date and time to check whether theparticular property has been withdrawn or soldprior and to check at the Auction that there havebeen no variations to the Special Conditions inrespect of any particular property. Neither theAuctioneers nor the sellers can be held responsiblefor any losses, damages or abortive costs incurredin respect of Lots which are withdrawn or sold priorand therefore prospective buyers interested inspecific Lots are invited to register that interest withthe Auctioneers.3. Guide prices which are given by the Auctioneers areintended to be an indication only of the price atwhich the property might sell and are not taken byany prospective buyers as a valuation. Prospectivebuyers are strongly advised to consult their ownprofessional advisers with respect to any sums to beoffered at the Auction. The Auctioneers and thesellers accept no responsibility for any loss,damage, costs or expenses incurred as a result ofrelying on the Auctioneers' guide prices. TheAuctioneers are under no obligation to provide anyadvice to prospective buyers with respect to rentalvalues of any particular property.4.On the fall of the Auctioneers' hammer thesuccessful bidder is under a binding contract topurchase the property in accordance with theCommon Auction Conditions and SpecialConditions and the contents of this Notice. Thebuyer will then be required to provide his or hername and address together with those of thesolicitors acting for the buyer. Should the buyerrefuse to or incorrectly provide this information theAuctioneers reserve the right to offer the property tothe under bidder or alternatively re-offer the Lot byauction and claim any resultant loss against theoriginal bidder.Upon the fall of the hammer the buyer is required tosign the memorandum of sale as it appears in thiscatalogueA separate deposit amounting to 10% of the price(plus Value Added Tax where applicable) is requiredin respect of each Lot purchased . THE DEPOSITMUST BE PAID BY BANKERS DRAFT OR CHEQUE.PAYMENT OF CASH OR CREDIT CARD IS NOTACCEPTABLE.AS AUCTIONEERS WE HAVE A LEGALRESPONSIBILITY TO VERIFY THE IDENTITY OFBOTH SELLERS AND BUYERS. ANYONE WHOTHEREFORE INTENDS TO BID FOR ANYPROPERTY INCLUDED IN THIS SALE WILL BEREQUIRED TO PRODUCE EVIDENCE OFIDENTIFICATION BY PRODUCTION OF ANO F F I C I A L D O C U M E N T B E A R I N G APHOTOGRAPH, SUCH AS A MODERN DRIVINGLICENCE, PASSPORT OR OTHER FORM OFI D E N T I T Y W H E N C O M P L E T I N G T H EMEMORANDUM OF SALE OR CONTRACT.Buyers PremiumOur standard buyers premium of £200.00 plus VAT willapply to each lot. THIS SHOULD BE PAID AT THE CLERK’SDESK ON THE DAY OF THE AUCTION. IN THE EVENT OFNON PAYMENT OF THE BUYER’S PREMIUM, ADEDUCTION OF £200.00 PLUS VAT WILL BE MADE FROMTHE AMOUNT RECEIVED BEFORE THE BALANCE ISAPPLIED TO THE DEPOSITREMINDER1. Bidders are reminded that a pre-auction sale orwhen the auctioneers gavel falls on their bid thesale would be subject to.a) Common Auction Conditionsb) Special Conditions of Salec) Any published addendums or alterationsd) Any late amendments distributed in the room ormade by the Auctioneer from the Rostrum.

Helping with all yourconveyance needsWarings are an established firmof solicitors with over 75 yearsof conveyance expertiseBuying and selling your home can be one of the most stressfultimes of your life. If you contact our conveyance team from theoutset we can explain the different steps that are required andif necessary we can ensure that you are given Independent advicein connection with surveys, valuations, mortgages and a host ofother matters. So whether you are buying or selling your home,think of Warings for all your conveyance needs1Specialists in allaspects ofconveyancing2A dedicated,friendlyconveyancingteam3Online access24 hours a day4Appointmentsnot alwaysnecessaryCome and visit us today in our brand newpremises, centrally located in the towncentre for your convenience.Cedar Chambers, Cedar SquareBlackpool. FY1 1BPTel: 01253 293106Fax: 01253 623193Email: conveyancing@warings.org.ukwww.warings.org.uk

CLARKE& COProperty Management& Mortgage BrokersClarke & Co are Blackpool's fastest growing residential letting agents. Wespecialise in the financing and management of investment propertypredominantly in Blackpool and around the Fylde Coast. Clarke and Cohave years of experience in the finding of viable investment propertyopportunities for clients across the UK. If you are in need of finance of arethinking of letting a property then look no further than Clarke & CoTel: 01253 752750F: 01253 624364E: johnclarke@clarkeandcoproperty.co.ukWWW.CLARKEANDCOPROPERTY.CO.UK

Mestate agents & auctioneers1Avonlee 1 Holiday Flats, 66 Withnell Road, Blackpool, FY4 1HESix holiday flats plus owners accommodation located in astrong trading area in South Shore. The property is withinclose proximity to many of Blackpool's tourist attractionsincluding the Pleasure Beach, South Pier, Golden Mile, andSandcastle Water Park. There are a selection of shops,cafes and other amenities nearby. With parking for fourvehicles to the rear. Potential to be converted intopermanent flats subject to planning permission.ACCOMMODATION COMPRISESLOWER GROUND FLOOR:OWNERS ACCOMMODATION: Two bedrooms, bathroom.GROUND FLOOR: Lounge, kitchen.FLAT 1: Studio with en-suite. FLAT 2: Studio with en-suite.FIRST FLOOR: FLAT 3: Lounge/kitchen, bedroom with en-suite.FLAT 4: Studio with en-suite.SECOND FLOOR: FLAT 5: Lounge/kitchen, bedroom, shower room.FLAT 6: Lounge/kitchen, bedroom, shower room.EXTERIOR: Rear parking for three vehicles.JOINT AGENTDuxbury's Commercial, Unit 8, MetropolitanBusiness Park, Blackpool, Lancashire, FY3 9LTTENUREFreeholdSOLICITORS CONCERNEDBlackhurst Budd (Mr Aitkin), 22 Edward Street,Blackpool, FY1 1BA.Price Guide: £140,000 - £150,0002 229B Back Palatine Road, Blackpool, FY1 4DAEmpty warehouse with four individually accessed garages.The property has potential for many uses subject toplanning consent. Centrally located with secure access.Good investment opportunity with rental potential.ACCOMMODATION COMPRISESGROUND FLOOR: Warehouse space1,426 sq. ft.FIRST FLOOR: Warehouse space1,648 sq. ft.EXTERIOR: Four individuallyaccessed garages.TENUREFreeholdSOLICITORS CONCERNEDBarker Booth & Eastwood, (Rupert Hale),246 Lytham Road, Blackpool, FY4 1DWPrice Guide: £65,000 - £70,000Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers3 1 Wentworth Crescent, Westgate, Morecambe, LA3 3NZThree bed corner sited property located in a popular residential area of Morecambe. The property is on a large plot in theprocess of being renovated and now needs considerable work in order to be completed. The property has double glazing, a rearkitchen extension, partly built garage, French doors leading to rear garden. Ideal for investor.Price Guide: £85,000- £95,000ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge,dining room, kitchen.FIRST FLOOR: Bedroom 1, bedroom 2,bedroom 3, bathroom.EXTERIOR: Large corner garden withdriveway and garage, rear garden.TENUREFreeholdSOLICITORS CONCERNEDRatcliffe & Bibby, (Ian Gardner), 20/22 Victoria Street,Morecambe, Lancashire, LA4 4AH.Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers4 7 Wentworth Crescent, Westgate, Morecambe, LA3 3NZThree bed semi detached property located in a popular residential area of Morecambe. The property benefits from gas centralheating, double glazing, flagged driveway with car port and garage to the rear. The rear garden is part paved and part gravel,the interior is in need of some light renovation but is ready to move into. Ideal family home or buy to let. View to appreciate.Price Guide: £90,000- £100,000ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, dining room, kitchen.FIRST FLOOR: Landing, bedroom 1, bedroom 2, bedroom 3,bathroom.EXTERIOR: Driveway and car port to the front. Rear gardenpart paved and part gravel. Garage to the rear with parkingfor one car.TENUREFreeholdSOLICITORS CONCERNEDRatcliffe & Bibby, (Ian Gardner), 20/22 Victoria Street,Morecambe, Lancashire, LA4 4AH.Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers5 The Wildlife Hotel, 39 Woodfield Road Blackpool FY1 6AYGood sized 10 bedroom all ensuite guest housesituated close to Blackpool Football Club, shopsand local amenities. The property is in need offull refurbishment however does benefit fromseparate owner's accommodation. Viewingsrecommended.ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge/bar,dining room, kitchen.PRIVATE ACCOMMODATION: Singlewith en-suite.FIRST FLOOR: Three double rooms,single room, twin room.SECOND FLOOR: Four double rooms,single room.TENUREFreeholdSOLICITORS CONCERNEDLinder Myers, (Barry Scott), 28-30 Park Road,Lytham St Annes, FY8 1PA.Price Guide: £50,000 - £60,0006 3 Keswick Road, Blackpool, FY1 5PB5 bedroom end of terrace property situatedin a good residential location close to localshops, amenities and transport links. Theproperty requires full refurbishmenthowever would be suitable to convert intoflats subject to planning. Ideal investmentopportunity.ACCOMMODATION COMPRISESGROUND FLOOR: Entrance hallway,reception, lounge, kitchen, dining room,utility room.FIRST FLOOR: Bedroom 1, bedroom 2, W.C.shower room, bedroom 3, bathroom,bedroom 4, bedroom 5.TENUREFreeholdSOLICITORS CONCERNEDEasthams Solicitors (Phillip Baker),292/302 Church Street, Blackpool, FY1 3QAPrice Guide: £65,000 - £75,000Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers7107 Bispham Road Blackpool FY2 0NRThree bed semi detached property with manyoriginal features located in a good residential areaclose to local schools and amenities. The property isin need of modernisation and benefits from threereception rooms, driveway and garage and gardensfront and rear. The property has a history ofsettlement. Ideal investment. Cash buy only.ACCOMMODATION COMPRISESGROUND FLOOR: Lounge, morning room, dining room,kitchen.FIRST FLOOR: Bedroom 1, bedroom 2, bedroom 3,bathroom.EXTERIOR: Driveway and garden to the front. Garagetowards the rear of the property. Garden to the rear.TENUREFreeholdSOLICITORS CONCERNEDWarings, (Conveyance team), Cedar Chambers,Cedar Square, Blackpool, FY1 1BA.Price Guide: £50,000 - £60,0008Carlton House, 7-9 York Street, Blackpool, FY1 5AQWell presented double fronted hotel situated close toBlackpool town centre, bus routes and amenities whichbenefits from gas central heating, double glazing, L2 firesystem. The property consists of 14 bedrooms (13 ensuite),good sized bar, dining area for 28 guests and 2 bed ownersaccommodation.ACCOMMODATION COMPRISESLOWER GROUND FLOOR: Bedroom, W.C, lounge, dining room,bathroom, kitchen.GROUND FLOOR: Hallway, dining room, lounge, utility room, sunterrace, office.1st FLOOR: 2 singles rooms, 5 double rooms, 1 king size room2nd FLOOR: Four double rooms, 3 Family rooms3rd FLOOR:PRIVATE ACCOMMODATION: 2 bed owner's accommodation.Price Guide: £120,000 - £140,000SOLICITORS CONCERNEDInghams, (Richard Statham), 37 Red Bank Road,Bispham, Blackpool, FY2 9HX.TENUREFreeholdProspective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers9 229 Common Edge Road, Blackpool, FY4 5DJQuaint three bed detached dormer bungalowclose to Blackpool Airport and some majorsupermarkets. The property benefits from gascentral heating, good sized front and rear gardensand path leading to front porch. Potential toextend property at the rear subject to planningconsent. In need of modernisation. Ideal forelderly couple or small family.ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, bedroom 1,W.C, bathroom, pantry, dining room, kitchen.FIRST FLOOR: Bedroom 2, bedroom 3.EXTERIOR: Good sized front and rear gardens.TENUREFreeholdSOLICITORS CONCERNEDBarker Booth & Eastwood, 346 Lytham Road,Blackpool, FY4 1DW.Price Guide: £230,000 - £250,00010 43 Walter Avenue, Lytham St Annes, FY8 3DRWell presented 3 bed semi-detached propertysituated in a good residential area close to shopsand schools. The property benefits from doubleglazing, gas central heating and cavity wallinsulation. Situated to the rear is a large southfacing garden and also a large side garden whichhas potential for development.ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, study,kitchen, extension.FIRST FLOOR: Bedroom 1, bedroom 2,bedroom 3, bathroom.EXTERIOR: Large garden to rear and a sidegarden with potential for development.SOLICITORS CONCERNEDDarbyshire & Son, 252 Lytham Road,Blackpool, FY1 6EXTENUREFreeholdPrice Guide: £110,000 - £120,000Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers11 30 Grange Road Blackpool FY3 8EJThree bedroom mid terrace property. Closeto local shops, public transport amenitiesand Stanley Park. Other benefits of thisproperty include Gas Central Heating,Double Glazing and a rear Outhouse.Viewings highly recommended.ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, diningroom, extended kitchen.FIRST FLOOR: Landing, bathroom, bedroom 1,bedroom 2, bedroom 3.EXTERIOR: Front and rear gardens.TENURELeaseholdSOLICITORS CONCERNEDWarings, (Conveyance Team), CedarChambers, Cedar Square, Blackpool, FY1 1BAPrice Guide: £70,000 - £80,00012 53 Branstree Road, Blackpool, FY4 4UQRecently modernised and well presented threebedroom garden terraced with off street parkingto the front and a nice private garden to the rear.The home comprising: Hall, lounge, dining room,kitchen, utility room, double glazing, gas centralheating, bathroom. Viewing recommendedACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, dining room,kitchen, extension.FIRST FLOOR: Landing, bedroom 1, bedroom 2,bedroom 3, bathroom.EXTERIOR: Driveway to the front and pebbled gardento the rear with planted borders and flagged patioareaTENUREFreeholdPrice Guide: £70,000 - £80,000SOLICITORS CONCERNEDEasthams, (Philip Baker), 292/302 Church Street,Blackpool, FY1 3QAProspective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers13 Miramar Holiday Flats, 37 Osbourne Road Blackpool FY4 1HQMid terrace property currently arranged as fiveholiday flats over three stories. The property hasseparate owner's accommodation and alsobenefits from a new energy efficient Gas CentralHeating system and Double Glazing. Four out offive flats are currently self contained. In a goodlocation close to the Promenade, Pleasure Beachand other tourist attractions. Currently trading.ACCOMMODATION COMPRISESGROUND FLOOR: FLAT 1: Bedsit with Shower Room.PRIVATE ACCOMMODATION: Double bedroom, lounge,kitchen, bathroom.FIRST FLOOR: FLAT 2: Lounge, kitchen, double bedroomwith en-suite. FLAT 3: Lounge, kitchen, double bedroom,shower room (Not Self Contained).SECOND FLOOR: FLAT 4: Lounge, kitchen, doublebedroom with en-suite. FLAT 5: Lounge, kitchen, doublebedroom with en-suite.SOLICITORS CONCERNEDWarings, (Conveyance Team), Cedar Chambers,Cedar Square, Blackpool, FY1 1BA.TENUREFreeholdPrice Guide: £80,000 - £90,00014 45 Agnew Road, Fleetwood, FY7 7BLThree bed semi detached property within walking distanceto the Esplanade, Memorial Park & Fleetwood TownCentre. The property benefits from GCH, double glazing,open plan lounge/dining room, driveway and garage,small garden to the front and a large rear garden, in needof modernisation. Currently tenanted, generating anincome of £5980 per annum. Ideal investment opportunity.ACCOMMODATION COMPRISESGROUND FLOOR: Hallway, lounge, dining room,kitchen, utility/porchFIRST FLOOR: bedroom 1, bedroom 2, bedroom 3bathroom.EXTERIOR: Small garden, driveway & garage andlarge garden to the rear.TENUREFreeholdSOLICITORS CONCERNEDBlackhurst Budd (John Taylor) 22 EdwardStreet, Blackpool, FY1 1BPPrice Guide: £80,000 - £90,00Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers15 Roker Hotel, 563 New South Promenade, Blackpool, FY4 1NFWell presented 16 bed all en-suite licensed hotellocated on Blackpool's New South Promenade. Theproperty has a separate restaurant & bar which isopen and licensed for members of the public. Thehotel has beautiful views across the Irish Sea and isclose to many of the resorts famous attractions.The property benefits from bar with games andlounge area, restaurant with seating for 45 diners,large parking area for 14 vehicles to the front.GCH, double glazing, 2 bed private owners'accommodation, and a yard area to the rear. Idealtrading positionACCOMMODATION COMPRISESGROUND FLOOR: Reception, sun lounge,restaurant/dining area, bar lounge, kitchen, beer cellar,ladies & gents W.C.PRIVATE ACCOMMODATION: Lounge, masterbedroom, double bedroom, bathroom.FIRST FLOOR: Four double rooms, two family rooms,twin room, laundry cupboard.SECOND FLOOR: Six double rooms, two family rooms,store room.THIRD FLOOR: Family room.EXTERIOR: Car park to the front providing parking for14 vehicles. Car park to the rear with parking for twovehicles. Rear yard with shed.TENUREFreeholdPrice Guide: £240,000 - £260,000SOLICITORS CONCERNEDTBC16 Flat G, 416-418 Waterloo Road, Blackpool, FY4 4BLWell presented purpose built two bed flat with easyaccess to major supermarkets, Blackpool South trainstation, Stanley Park and the M55. The propertybenefits from modern fully fitted kitchen, allocatedparking space to the rear, full double glazing,economy 7 storage heating. Ideal for first time buyeror potential for buy to let.Currently tenanted on 6 month AST at £525 pcm.ACCOMMODATION COMPRISESHallway, kitchen, lounge, bathroom, bedroom 1,bedroom 2, bathroom.EXTERIOR: Allocated parking to the rear.SOLICITORS CONCERNEDTBCTENUREFreeholdPrice Guide: £55,000 - £65,000Prospective buyers are reminded to read the notices and all applicable conditions of sale as well as any addendum. 6

Mestate agents & auctioneers17 Bracondale Hotel, 14 Warley Road, Blackpool, FY1 2JUImmaculate 8 bed all en-suite fully licensed guest house in anideal trading location within walking distance to thePromenade and close to Blackpool's Town Centre andamenities. The hotel has a 4 Star Rating from Visit England. Theproperty has been decorated and modernised to a highstandard throughout and benefits from private ownersaccommodation, dining room catering for 15 guests, partdouble glazing and GCH with two boilers, parking available for1/2 cars, roller shutters and front garden area with sea views.The guest house is fully equipped and is currently operated byone partner on a Bed and Breakfast basis with excellent scopeto expand if operated full time. Turnover and accountinginformation available to interested parties after viewing.ACCOMMODATION COMPRISESGROUND FLOOR: Vestibule, hallway,bar/lounge, dining room, kitchen, utilityroom.PRIVATE ACCOMMODATION: Doublebedroom with en-suite shower and wc.LOWER GROUND FLOOR: Privateaccommodation cont:LOUNGE. FIRST FLOOR: Two doublerooms, twin room, W.C, tool room.SECOND FLOOR: Four double rooms,single room.EXTERIOR: 1/2 cars and roller shutters,front garden area with sea views.Price Guide: £150,000 - £170,000SOLICITORS CONCERNEDTBCTENUREFreeholdHOUSE CLEARANCESALL HOUSES, FLATS, PUBS, CLUBS & HOTELS CLEAREDWANTEDFRIDGES, FREEZERS, COOKERS, WASHERS,DRYERS & CATERING EQUIPMENTRUBBISH REMOVAL SERVICE FREE SCRAP COLLECTIONTel: 01253 44 00 7092A-94A Dickson Road, Blackpool FY1 2BU. Email: mrbarters@hotmail.co.ukCALL IN NOW FOR A GOOD DEALBereavements handled with Discretion

The Common Auction Conditions(Edition 2 October 2006) Reproduced with the consent of RICSIntroductionThe common auction conditions have three main sections:1. GlossaryThis gives special meanings to some words used in the rest of theconditions2. The conduct of the auctionThese conditions regulate the conduct of the auction. If you read ourcatalogue or attend the auction you do so on the basis that youaccept them3. Conditions of saleIf you buy a lot you will sign a sale memorandum under which youagree to be bound by the conditions of sale that apply to that lot.These conditions are:• 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 vary the general conditions)The conditions are legally binding.Important noticeA prudent buyer will, before bidding for a lot at an auction:• Take professional advice from a conveyancer and, in appropriatecases, a chartered surveyor and an accountant• Read the conditions• Inspect the lot• Carry out usual searches and make usual enquiries• Check the content of all available leases and other documentsrelating to the lot• Check that what is said about the lot in the catalogue is accurate• Have finance available for the deposit and purchase price• Check whether VAT registration and election is advisable.The conditions assume that the buyer has acted like a prudent buyer.If you choose to buy a lot without taking these normal precautions youdo so at your own risk.GlossaryIn the conditions wherever it makes sense:• singular words can be read as plurals, and plurals as singular words• a ‘person’ includes a corporate body• words of one gender include the other genders and where thefollowing words appear they have the specified meanings:Actual completion dateThe date when completion takes place or is treated as taking place for thepurposes of apportionment and calculating interestAddendumAn amendment or addition to the conditions whether contained in asupplement to the catalogue, a written notice from the auctioneers or an oralannouncement at the auctionAgreed 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 ifthat date is not a business day the first subsequent business dayArrearsArrears of rent and other sums due under the tenancies but unpaid on theactual completion dateAuctionThe auction advertised in the catalogueAuctioneersThe auctioneers at the auctionBusiness dayAny day except (a) a Saturday or a Sunday (b) a bank holiday in England andWales or (c) Good Friday or Christmas DayBuyerThe 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 beenforced against them jointly or against each of them separatelyCatalogueThe catalogue to which the conditions refer including any supplement to itCompletionCompletion of the sale of the lotConditionsThis glossary, the conditions for the conduct of the auction, the generalconditions, any extra conditions and the special conditionsContractThe contract by which the seller agrees to sell and the buyer agrees to buy thelotContract dateThe date of the auction or, if the lot is not sold at the auction:(a) the date of the sale memorandum signed by both the seller and buyer or(b) if contracts are exchanged, the date of exchange. If exchange is noteffected in person or by an irrevocable agreement to exchange made bytelephone, fax or electronic mail the date of exchange is the date onwhich both parts have been signed and posted or otherwise placedbeyond normal retrieval.DocumentsDocuments of title (including, if title is registered, the entries on the registerand the title plan) and other documents listed or referred to in the specialconditions relating to the lotExtra conditionsAny additions to or variations of the conditions that are of general applicationto all lotsGeneral conditionsThe conditions so headedInterest rateIf not specified in the special conditions,4% above the base rate from time totime of Barclays Bank plcLotEach separate property described in the catalogue or (as the case may be) theproperty that the seller has agreed to sell and the buyer to buyOld arrearsArrears due under any of the tenancies that are not ‘new tenancies’ asdefined by the Landlord and Tenant (Covenants) Act 1995ParticularsThe section of the catalogue that contains descriptions of each lotPractitionerA receiver, administrative receiver or liquidator or a trustee in bankruptcyPriceThe price that the buyer agrees to pay for the lotReady to completeReady, willing and able to complete: if completion would enable the seller todischarge all financial charges secured on the lot that have to be dischargedby completion, then those outstanding financial charges do not prevent theseller from being ready to completeSale memorandumThe form so headed set out in the catalogue in which the terms of the contractfor the sale of the lot are recordedSellerThe person selling the lotSpecial conditionsThe conditions so headed that relate to the lotTenanciesTenancies, leases, licences to occupy and agreements for lease and anydocuments varying or supplemental to themTransferIncludes a conveyance or assignment (and to transfer includes to convey or toassign)TUPEThe Transfer of Undertakings (Protection of Employment) Regulations 1981 asmodified or re-enacted from time to timeVATValue Added Tax or other tax of a similar natureVAT electionan election to waive exemption from VAT in respect of the lotWe (and us and our)The auctioneersYou (and your)Someone who has a copy of the catalogue or who attends or bids at theauction, whether or not a buyer

The Conduct of the AuctionThe catalogue is issued only on the basis that you accept theseconditions relating to the conduct of the auction. They override all otherconditions and can only be varied if we agree.Our roleAs agents for each seller we have authority to:• prepare the catalogue from information supplied by or on behalf ofeach seller• 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 salememorandum 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 dutyof care and you have no claim against us for any loss.Bidding and reserve pricesWe 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 ourdecision is final.Unless stated otherwise each lot is subject to a reserve price. If no bidequals or exceeds that reserve price the lot will be withdrawn from theauction. The seller may bid (or ask us or another agent to bid on theseller's behalf) up to the reserve price but may not make a bid equal toor 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 informationWe have taken reasonable care to prepare particulars that correctlydescribe each lot. However the particulars are based on informationsupplied by or on behalf of the seller and we are not responsible forerrors.The particulars are for your information but you must not rely on them.They do not 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 onlyon the basis that we are not responsible for its accuracy.The contractA successful bid is one we accept as such. If you make a successful bidfor a lot you are obliged to buy that lot on the terms of the salememorandum. The price will be the amount you bid plus VAT (ifapplicable). You must before leaving the auction:• provide all information we reasonably need from you to enable us tocomplete the sale memorandum (including proof of your identity thatcomplies with money laundering regulations)• sign the completed sale memorandum and• pay the depositand if you do not we may either:• as agent for the seller treat that failure as your repudiation of thecontract and offer the lot for sale again: the seller may then have aclaim against you for breach of contract; or• sign the sale memorandum on your behalf.Deposits must be paid by cheque or by bankers' draft drawn in ourfavour on a UK clearing bank or building society. The catalogue stateswhether we also accept debit or credit cards.We may retain the sale memorandum signed by or on behalf of theseller until we receive 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 your responsibility to obtain an indemnity from the person forwhom 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 contractyou are personally liable to buy the lot and must indemnify the sellerin respect of any loss the seller incurs as a result of the buyer'sdefault.General ConditionsThe general conditions apply except to the extent that they are varied byextra conditions, the special conditions or by an addendum.1. The lot1.1 The lot, including any rights granted and reserved, is described inthe special conditions.1.2 The lot is sold subject to all subsisting tenancies, but otherwise withvacant possession on completion.1.3 The lot is sold subject to all matters contained or referred to in thedocuments (except financial charges: these the seller mustdischarge on or before completion) and to such of the following asmay affect it, whether they arise before or after the contract dateand whether or not they are disclosed by the seller or are apparentfrom inspection of the lot or from the documents:(a) matters registered or capable of registration as local landcharges(b) matters registered or capable of registration by any competentauthority or under the provisions of any statute(c) notices, orders, demands, proposals and requirements of anycompetent authority(d) charges, notices, orders, restrictions, agreements and othermatters relating to town and country planning, highways orpublic health(e) rights, easements, quasi-easements, and wayleaves(f) outgoings and other liabilities(g) any interest which overrides, within the meaning of the LandRegistration Act 2002(h) matters that ought to be disclosed by the searches andenquiries a prudent buyer would make, whether or not thebuyer has made them(i) anything the seller does not and could not reasonably knowabout and where any such matter would expose the seller toliability the buyer is to comply with it and indemnify the selleragainst liability.1.4 The seller must notify the buyer of any notices, orders, demands,proposals and requirements of any competent authority of which itlearns after the contract date but the buyer must comply with themand keep the seller indemnified.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 theyare at completion and the seller is not liable if they are not fit foruse.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 bediscovered on inspection of it, whether or not the buyer hasinspected it.1.8 The buyer is not relying on the information contained in theparticulars or in any replies to preliminary enquiries but on thebuyer's own verification of that information. If any information isnot correct any liability of the seller and any remedy of the buyerare excluded to the extent permitted by law.2. Deposit2.1 The amount of the deposit is the greater of:(a) any minimum deposit stated in the catalogue (or the total price,if this is less than that minimum), and(b) 10% of the price exclusive of VAT.2.2 The deposit:(a) must be paid to the auctioneers by cheque or banker’s draftdrawn on a UK clearing bank or building society (or by suchother means of payment as they accept)(b) is to be held as stakeholder unless the special conditionsprovide that it is to be held as agent for the seller.2.3 Where the auctioneers hold the deposit as stakeholder they areauthorised 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 a cheque for the deposit is not cleared on first presentation theseller is entitled to treat the contract as at an end and bring a claimagainst the buyer for breach of contract.2.5 Interest earned on the deposit belongs to the seller unless theconditions provide otherwise.

3. Transfer of risk and insurance3.1 From the contract date the seller is under no obligation to insurethe lot and the buyer bears all risk of loss or damage unless:(a) the lot is sold subject to a tenancy that requires the seller toinsure 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 relevant insurance details(b) must use reasonable endeavours to maintain that or equivalentinsurance and pay the premiums when due(c) gives no warranty as to the adequacy of insurance(d) must, at the request of the buyer, use reasonable endeavours tohave the buyer's interest noted on any insurance policy thatdoes not cover a contracting purchaser(e) must, unless otherwise agreed, cancel the insurance atcompletion(f) is to hold in trust for the buyer any insurance payments that theseller receives in respect of loss or damage arising after thecontract dateand the buyer must on completion reimburse to the seller the costof insurance (to the extent it is not paid by a tenant or other thirdparty) from and including the contract date3.3 If under a tenancy the seller insures the lot then unless otherwiseagreed with the buyer the seller is to pay any refund of premium.(a) to the buyer or(b) if the special conditions so state, to each tenant in theproportion that the tenant pays premiums under its tenancy, firstdeducting any arrears of premium due from that 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 thebuyer has no right to enter into occupation prior to completion.4. Title4.1 Unless general condition 4.2 applies, the buyer accepts the title ofthe seller to the lot as at the contract date and may raise norequisition or objection except in relation to any matter followingthe contract date.4.2 The buyer may raise no requisition or objection to any documentsmade available before the auction but in relation to any of thedocuments that is not available before the auction the followingprovisions apply:(a) if the lot is registered land the seller is to give to the buyerwithin five business days of the contract date an official copy ofthe entries on the register and title plan and of all documentsnoted on the register that affect the lot(b) if the lot is not registered land the seller is to give to the buyerwithin five business days an abstract or epitome of title startingfrom the root of title mentioned in the special conditions (or, ifnone is mentioned, a good root of title more than 15 years old)and must produce to the buyer the original or an examinedcopy of every relevant document(c) the buyer has no right to object to or make requisitions on anytitle information more than seven business days after thatinformation has been given to the buyer.4.3 Unless otherwise stated in the special conditions the seller sellswith full title guarantee except that:(a) all matters recorded in registers open to public inspection are tobe treated as within the actual knowledge of the buyer and(b) any implied covenant as to compliance with tenant's obligationsunder leases does not extend to the state or condition of the lotwhere the lot is leasehold property.4.4 If title is in the course of registration title is to consist of certifiedcopies of:(a) the documents sent to the Land Registry(b) the application to the Land Registryand a letter under which the seller or its conveyancer agrees touse all reasonable endeavours to answer any requisitionsraised by the Land Registry and to instruct the Land Registry tosend the completed registration documents to the buyer.4.5 The transfer is to have effect as if expressly subject to all matterssubject to which the lot is sold under the contract.4.6 The seller does not have to produce, nor may the buyer object to ormake a requisition in relation to, any prior or superior title even if itis referred to in the documents.5. Transfer5.1 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 tenbusiness days before the agreed completion date and theengrossment (signed as a deed by the buyer if condition 5.2applies) five business days before that date or (if later) twobusiness days after the draft has been approved by the sellerand(b) the seller must approve or revise the draft transfer within fivebusiness days of receiving 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 covenantin the transfer to indemnify the seller against that liability.5.3 The seller cannot be required to transfer the lot to anyone otherthan the buyer, or by more than one transfer.6. Completion6.1 Completion is to take place at the offices of the seller’sconveyancer, or where the seller may reasonably require, on theagreed completion date. The seller can only be required tocomplete on a business day and between the hours of 0930 and1700.6.2 The amount payable on completion is the balance of the priceadjusted to take account of apportionments plus (if applicable) VATand interest.6.3 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.6.4 Unless the seller and the buyer otherwise agree completion takesplace when both have complied with their obligations under thecontract and the total payment is unconditionally received in theseller’s conveyancer’s client account.6.5 If completion takes place after 1400 hours for a reason other thanthe seller’s default it is to be treated, for the purposes ofapportionment and calculating interest, as if it had taken place onthe next business day.6.6 Where applicable the contract remains in force followingcompletion.7. Notice to complete7.1 The seller or the buyer may on or after the agreed completion datebut before completion give the other notice to complete within 10business days (excluding the date 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,without affecting 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,without affecting any other remedy the buyer has:(a) rescind the contract and(b) recover the deposit and any interest on it from the seller or, ifapplicable, a stakeholder.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 theseller its agent to cancel any registration of the contract(b) the seller must return the deposit and any interest on it to thebuyer (and the buyer may claim it from the stakeholder, ifapplicable) unless the seller is entitled to forfeit the depositunder general condition 7.3.9. Landlord's licence9.1 Where the lot is leasehold land and licence to assign is requiredthis condition applies.9.2 The contract is conditional on that licence being obtained, by wayof formal licence if that is what the landlord can lawfully require.9.3 The agreed completion date is to be not earlier than the date fivebusiness days after the seller has given notice to the buyer that thelicence has been obtained.

9.4 The seller must:(a) use all reasonable endeavours to obtain the licence at theseller’s expense and(b) enter into any authorised guarantee agreement properlyrequired.9.5 The buyer must:(a) promptly provide references and other relevant information,and(b) comply with the landlord’s lawful requirements.9.6 If within three months of the contract date (or such longer period asthe seller and buyer agree) the licence has not been obtained theseller or the buyer may (if not then in breach of any obligationunder this condition) by notice to the other rescind the contract atany time before licence is obtained. Rescission is without prejudiceto the claims of either seller or buyer for breach of this condition 9.10. Interest and apportionments10.1 If the actual completion date is after the agreed completion date forany reason other than the seller’s default the buyer must payinterest at the interest rate on the price (less any deposit paid) fromthe agreed completion date up to and including the actualcompletion date.10.2 The seller is not obliged to apportion or account for any sum atcompletion unless the seller has received that sum in cleared funds.The seller must pay to the buyer after completion any sum to whichthe buyer is entitled that the seller subsequently receives in clearedfunds.10.3 Income and outgoings are to be apportioned at actual completiondate unless:(a) the buyer is liable to pay interest and(b) the seller has given notice to the buyer at any time up tocompletion requiring apportionment on the date from whichinterest becomes payable.10.4 Apportionments are to be calculated on the basis that:(a) the seller receives income and is liable for outgoings for thewhole of the day on which apportionment is to be made(b) annual income and expenditure accrues at an equal daily rateassuming 365 days in a year and income and expenditurerelating to a period of less than a year accrues at an equaldaily rate during the period to which it relates(c) where the amount to be apportioned is not known atcompletion apportionment is to be made by reference to thebest estimate then available and further payment is to be madeby seller or buyer as appropriate within five business days of thedate when the amount is known(d) rent payable in arrear for a period that includes the day ofapportionment is to be apportioned for that period as if paid inadvance.11. Arrears11.1 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 butneed not take legal proceedings, distrain or forfeit the tenancy(b) pay them to the seller within five business days of receipt incleared funds (plus interest at the interest rate calculated on adaily basis for each subsequent day’s delay in payment)(c) on request, at the cost of the seller, assign to the seller or as theseller may direct the right to demand and sue for old arrears,such assignment to be in such form as the seller’s conveyancermay reasonably require(d) if reasonably required, allow the seller’s conveyancer to haveon loan the counterpart of any tenancy against an undertakingto hold it to the buyer’s order(e) not release any tenant or surety from liability to pay arrears oraccept a surrender of or forfeit any tenancy under which arrearsare due; and(f) if the buyer disposes of the lot prior to recovery of all arrearsobtain from the buyer's successor in title a covenant in favour ofthe seller in similar form to this condition 11.11.3 Where the seller has the right to recover arrears it must not withoutthe buyer’s written consent bring insolvency proceedings againsta tenant or seek the removal of goods from the lot.12. Management12.1 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 consult thebuyer on all management issues that would affect the buyer aftercompletion, 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 requirementsunless to do so would (but for the indemnity in paragraph(c) expose the seller to a liability that the seller would not otherwisehave, in which case the seller may act reasonably in such a wayas to avoid that liability(b) if the seller gives the buyer notice of the seller's intended actand the buyer does not object within five business days givingreasons for the objection the seller may act as the sellerintends, and(c) the buyer is to indemnify the seller against all loss or liability theseller incurs through acting as the buyer requires, or by reasonof delay caused by the buyer.13. Rent deposits13.1 This condition applies where the seller is holding or otherwiseentitled to money by way of rent deposit in respect of a tenancy. Inthis condition ‘rent deposit deed’ means the deed or otherdocument under which the rent deposit is held.13.2 If the rent deposit is not assignable the seller must on completionhold the rent deposit on trust for the buyer and, subject to the termsof the rent deposit deed, comply at the cost of the buyer with thebuyer’s lawful instructions.13.3 Otherwise the seller must on completion pay and assign its interestin the rent deposit to the buyer under an assignment in which thebuyer covenants with the seller to:(a) observe and perform the seller’s covenants and conditions inthe rent deposit deed and indemnify the seller in respect of anybreach(b) give notice of assignment to the tenant and(c) give such direct covenant to the tenant as may be required bythe rent deposit deed.14. VAT14.1 Where the conditions require money to be paid the payer must alsopay any VAT that is chargeable on that money, but only if given avalid VAT invoice.14.2 Where the special conditions state that no VAT election has beenmade the seller confirms that none has been made by it or by anycompany in the same VAT group nor will be prior to completion.15. Transfer as a going concern15.1 Where the special conditions so state the seller and the buyerintend the sale to be treated as a transfer of a going concern andthis condition applies.15.2 The seller confirms that the seller or a company in the same VATgroup:(a) is registered for VAT and(b) has, where necessary, made in relation to the lot a VAT electionthat remains valid.15.3 The buyer:(a) is registered for VAT, either in the buyer's name or as a memberof a VAT group(b) has made, or will make before completion, a VAT election inrelation to the lot(c) is to give to the seller as early as possible before the agreedcompletion date evidence of the VAT registration and that a VATelection has been made and notified in writing to HM Revenueand Customs(d) must not revoke the VAT election. and if it does not produce therelevant evidence at least two business days before the agreedcompletion date, general condition 14.1 applies 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 acontinuing business as a going concern subject to and with thebenefit of the tenancies, and(b) collect the rents payable under the tenancies and charge VATon them15.5 Unless the seller obtains agreement to the contrary from HM

Revenue and Customs(a) the seller must on or as soon as reasonably practicable aftercompletion transfer to the buyer all VAT records for the lot and(b) the buyer must keep those records available for inspection bythe seller at all reasonable times.15.6 If, after completion, it is found that the sale of the lot is not atransfer of a going concern then:(a) the seller’s conveyancer is to notify the buyer's conveyancer ofthat finding and provide a VAT invoice in respect of the sale ofthe lot and(b) the buyer must within five business days of receipt of the VATinvoice pay to the seller the VAT due and(c) if VAT is payable because the buyer has not complied with thiscondition 15, the buyer must pay and indemnify the selleragainst all costs, interest, penalties or surcharges that the sellerincurs as a result.16. Capital allowances16.1 This condition applies where the special conditions state that thereare capital allowances available in respect of the lot.16.2 The seller is promptly to supply to the buyer all informationreasonably required by the buyer in connection with the buyer'sclaim for capital allowances.16.3 The value to be attributed to those items on which capitalallowances may be claimed 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 theCapital Allowances Act 2001 to give effect to this condition,and(b) to submit the value specified in the special conditions to HMRevenue and Customs for the purposes of their respectivecapital allowance computations.17 Maintenance agreements17.1 The seller agrees to use reasonable endeavours to transfer to thebuyer, at the buyer’s cost, the benefit of the maintenanceagreements specified in the special conditions.17.2 The buyer must assume, and indemnify the seller in respect of, allliability under such contracts from the actual completion date.18. Landlord and Tenant Act 198718.1 This condition applies where the sale is a relevant disposal for thepurposes of part I of the Landlord and Tenant Act 1987.18.2 Unless the special conditions state otherwise the seller warrants thatthe seller has complied with sections 5B and 7 of that Act and thatthe requisite majority of qualifying tenants has not accepted theoffer.19. Sale by practitioner19.1 This condition applies where the sale is by a practitioner as agentof the seller.19.2 The practitioner has been duly appointed and is empowered to sellthe lot.19.3 The practitioner and the practitioner’s partners and staff have nopersonal liability in connection with the sale or the performance ofthe seller's obligations. The transfer is to include a declarationexcluding the personal liability of the practitioner and of thepractitioner’s partners and staff.19.4 The lot is sold:(a) in its condition at completion(b) whether or not vacant possession is provided(c) for such title as the seller may have and(d) with no title guarantee. and the buyer has no right to rescindthe contract or any other remedy if information provided aboutthe lot is inaccurate, incomplete or missing.19.5 Where relevant:(a) the documents must include certified copies of the charge underwhich the practitioner is appointed, the document ofappointment by the lender and the practitioner’s acceptance ofappointment, and(b) the seller may require the transfer to be by the lender exercisingits power of sale under the Law of Property Act 1925.19.6 The buyer understands this condition 19 and agrees that it is fair inthe circumstances of a sale by a practitioner.20. TUPE20.1 Unless the special conditions state that TUPE applies then the sellerwarrants that there are no employees whose contracts ofemployment will transfer to the buyer on completion.20.2 If the special conditions state that TUPE applies then:(a) the seller has informed the buyer of those employees whosecontracts of employment will transfer to the buyer oncompletion(b) not less than five business days before the agreed completiondate the buyer must confirm to the seller that the buyer hasoffered to employ those employees on the same terms as, orbetter terms than, their existing contracts of employment(c) the buyer is to keep the seller indemnified against all liability forthose employees after completion.21. Environmental21.1 This condition only applies where the special conditions so provide.21.2 The seller has made available such reports as the seller has as tothe environmental condition of the lot and has given the buyer theopportunity to carry out investigations (whether or not the buyerhasread those reports or carried out any investigation) and thebuyer admits that the price takes into account the environmentalcondition of the lot.21.3 The buyer agrees to indemnify the seller in respect of all liability foror resulting from the environmental condition of the lot.22. Service charge22.1 This condition applies where the lot is sold subject to tenancies thatinclude service charge provisions.22.2 No apportionment is to be made at completion in respect of servicecharges.22.3 Within two months after completion the seller must provide to thebuyer a detailed service charge account for the service charge yearcurrent on completion showing:(a) service charge expenditure attributable to each tenancy(b) payments on account of service charge received from eachtenant(c) any amounts due from a tenant that have not been received(d) any service charge expenditure that is not attributable to anytenancy and is for that reason irrecoverable.22.4 In respect of each tenancy, if the service charge account shows that:(a) payments on account (whether received or still then due from atenant) exceed attributable service charge expenditure, theseller must pay to the buyer an amount equal to the excesswhen it provides the service charge account.(b) attributable service charge expenditure exceeds payments onaccount (whether those payments have been received or arestill then due), the buyer must use all reasonable endeavoursto recover the shortfall from the tenant at the next servicecharge reconciliation date and pay the amount so recovered tothe seller within five business days of receipt in cleared fundsand in respect of payments on account that are still due from a tenantcondition 11 (arrears) applies.22.5 In respect of service charge expenditure that is not attributable toany tenancy the seller must pay any incurred in respect of theperiod before actual completion date and the buyer must pay anyincurred in respect of the period after actual completion date. Anynecessary monetary adjustment is to be made within five businessdays of the seller providing the service charge account to the buyer.22.6 If the seller holds any reserve or sinking fund on account of futureservice charge expenditure:(a) the seller must assign it (including any interest earned on it) tothe buyer on completion and(b) the buyer must covenant with the seller to hold it in accordancewith the terms of the tenancies and to indemnify the seller if itdoes not do so.23. Rent reviews23.1 This condition applies where the lot is sold subject to a tenancyunder which a rent review due on or before the actual completiondate has not been agreed or determined.23.2 The seller may continue negotiations or rent review proceedings upto the actual completion date but may not agree the level of therevised rent or commence rent review proceedings without thewritten consent of the buyer, such consent not to be unreasonablywithheld or delayed.

23.3 Following completion the buyer must complete rent reviewnegotiations or proceedings as soon as reasonably practicable butmay not agree the level of the revised rent without the writtenconsent of the seller, such consent not to be unreasonably withheldor delayed.23.4 The seller must:(a) give to the buyer full details of all rent review negotiations andproceedings, including copies of all correspondence and otherpapers, and(b) use all reasonable endeavours to substitute the buyer for theseller in any rent review proceedings.23.5 The seller and the buyer are to keep each other informed of theprogress of the rent review and have regard to any proposals theother makes in relation to it.23.6 When the rent review has been agreed or determined the buyermust account to the seller for any increased rent and interestrecovered from the tenant that relates to the seller’s period ofownership within five business days of receipt of cleared funds.23.7 If a rent review is agreed or determined before completion but theincreased rent and any interest recoverable from the tenant hasnot been received by completion the increased rent and any interestrecoverable is to be treated as arrears.23.8 The seller and the buyer are to bear their own costs in relation torent review negotiations and proceedings.27. Notices and other communications27.1 All communications, including notices, must be in writing.Communication to or by the seller or the buyer may be given to orby their conveyancers.27.2 If a communication is delivered by hand or is otherwise proved tohave been received then it is given when delivered or received. Ifdelivered or received after 1700 hours on a business day it is to betreated as received on the next business day.27.3 If a communication is to be relied on that is not delivered by handor otherwise proved to have been received it must be sent by firstclassregistered or recorded delivery post to the address of theperson to whom it is to be given as specified in the salememorandum. Such a communication will be treated as receivedon the second business day after it has been posted.28. Contracts (Rights of Third Parties) Act 1999The contract is enforceable only by the seller and the buyer and (ifapplicable) their successors in title and, to the extent permitted bythe conditions, by the auctioneers.24. Tenancy renewals24.1 This condition applies where the tenant under a tenancy has theright to remain in occupation under part II of the Landlord andTenant Act 1954 (as amended) and references to notices andproceedings are to notices and proceedings under that Act.24.2 Where practicable, without exposing the seller to liability or penalty,the seller must not without the written consent of the buyer (whichthe buyer must not unreasonably withhold or delay) serve orrespond to any notice or begin or continue any proceedings.24.3 If the seller receives a notice the seller must send a copy to thebuyer within five business days and act as the buyer reasonablydirects in relation to it.24.4 Following completion the buyer must:(a) with the co-operation of the seller take immediate steps tosubstitute itself as a party to any proceedings(b) use all reasonable endeavours to conclude any proceedings ornegotiations for the renewal of the tenancy and thedetermination of any interim rent as soon as reasonablypracticable at the best rent or rents reasonably obtainable(c) if any increased rent is recovered from the tenant (whether asinterim rent or under the renewed tenancy) account to the sellerfor the part of that increase that relates to the seller’s period ofownership of the lot within five business days of receipt ofcleared funds.24.5 The seller and the buyer are to bear their own costs in relation tothe renewal of the tenancy and any proceedings relating to this.25. Warranties25.1 Available warranties are listed in the special conditions.25.2 Where a warranty is assignable the seller must:(a) on completion assign it to the buyer and give notice ofassignment to the person who gave the warranty(b) apply for, and the seller and the buyer must use all reasonableendeavours to obtain, any consent to assign that is required.If consent has not been obtained by completion the warrantymust be assigned within five business days after the consent hasbeen obtained.25.3 If a warranty is not assignable the seller must on completion:(a) hold the warranty on trust for the buyer(b) at the buyer’s cost comply with such of the lawful instructions ofthe buyer in relation to the warranty as do not place the sellerin breach of its terms or expose the seller to any liability orpenalty.26. No assignmentThe buyer must not assign, mortgage or otherwise transfer or partwith the whole or any part of the buyer's interest under thiscontract.

Sale memorandumDateName and address of sellerName and address of buyerThe lotThe price (excluding any VAT)Deposit paidThe seller agrees to sell and the buyer agrees to buy the lot for the price.This agreement is subject to the conditions so far as they apply to the lot.We acknowledge receipt of the deposit.Signed by the buyerSigned by us as agent for the sellerThe buyer's conveyancer isNameAddressContact

Summary of LotsLot 1Lot 2Lot 3Lot 4Lot 5Lot 6Lot 7Lot 8Lot 9Lot 10Lot 11Lot 12Lot 13Lot 14Lot 15Lot 16Lot 17Avonlee Holiday Flats, 66 Withnell Road, Blackpool, FY4 1HE229B Back Palatine Road, Blackpool, FY1 4DA1 Wentworth Crescent, Morecambe, LA3 3NZ7 Wentworth Crescent, Morecambe, LA3 3NZThe Wildlife Hotel, 39 Woodfield Road Blackpool FY1 6AY3 Keswick Road, Blackpool, FY1 5PB107 Bispham Road Blackpool FY2 0NRCarlton House, 7-9 York Street, Blackpool, FY1 5AQ229 Common Edge Road, Blackpool, FY4 5DJ43 Walter Avenue, Lytham St Annes, FY8 3DR30 Grange Road Blackpool FY3 8EJ53 Branstree Road, Blackpool, FY4 4UQMiramar Holiday Flats, 37 Osbourne Road Blackpool FY4 1HQ45 Agnew Road, Fleetwood, FY7 7BLRoker Hotel, 563 New South Promenade, Blackpool, FY4 1NFFlat G, 416-418 Waterloo Road, Blackpool, FY4 4BLBracondale Hotel, 14 Warley Road, Blackpool, FY1 2JUA59A59M6NEXTAUCTION29th JULYTAKINGENTRIESNOWMestate agents & auctioneers73 Topping StreetBlackpool, FY1 3AFTel: 01253 624 047Fax: 01253 624978email: sales@metcalfestateagents.co.ukwww.metcalfestateagents.co.uk