Property Auction

Transcription

Property Auction

Established 1921
www.nesbits.co.uk
Property
Auction
CATALOGUE
Thursday 22nd September 2016 at 11am
to be held at The Mountbatten Room, Royal Marines Museum,
Eastney Esplanade, Southsea, Hampshire PO4 9PX
Chartered Surveyors • Auctioneers • Estate Agents • Valuers
023 9286 4321
Auction Results
2015 (inc. pre-and post-Auction) 88.75%
25th February 2016 80%
21st April 2016 100%
28th June 2016
78%
Welcome to
the September
Auction Catalogue
After the Referendum, at least we know where
we are, or do we? One consequence of the result
is a drop in interest rates. If you are a borrower
– you have never had it so good; if you are a
saver – you have never had it so bad!
As always, the property market and prices reflect
Auction Venue
Our Property Auction Sales are held in The Mountbatten
Room, Royal Marines Museum Southsea - Seafront
entrance and car park. Important note: Parking charges
will apply.
demand and a purchaser’s ability to complete.
Our whole economy relies on property. Where we
live, work or play involves land and buildings.
The new Government has a new focus on
maintaining our economy. There will be changes,
and opportunities, but a property remains a
Why not visit the museum after our sales?
Contact information
Head Office:
7 Clarendon Road, Southsea, Hampshire PO5 2ED
Tel: 023 9286 4321 Fax: 023 9229 5522
Email:
[email protected]
[email protected]
[email protected]
sound investment for occupation or letting.
In respect of those properties entered for
September, Robin Evans comments:
One of our most varied and interesting sales sees
another intriguing mix this month – from lockup garage to Gothic-style family house; from the
northern fringe of Portsea Island (Lot 3, Newney
Close) to our off-shore neighbour, The Isle of Wight
(Lot 5, Market Hill, Cowes). Something for everyone!
Our next Property Auction is
November 17th 2016
To be held at:
The Royal Marines Museum, Southsea
ENTRIES INVITED
1
www.nesbits.co.uk
DAVID NESBIT
IMPORTANT NOTICE: A Buyer’s Premium of £350 (plus V.A.T.) per lot will apply.
We o f f e r p r o x y a n d t e l e p h o n e b i d d i n g o n a l l L o t s . F o r f u r t h e r i n f o r m a t i o n , p l e a s e c a l l 0 2 3 9 2 8 6 4 3 2 1
Order of Sale (Unless previously sold)
Lot
Lot 1
Lot 2
Lot 3
Lot 4
Lot 5
Lot 6
Lot 7
Lot 8
Lot 9
Lot 10
Lot 11
POSTPONED
Lot 12
Lot 13
Lot 14
Address
Guide Price
Garage 6, Southsea Terrace, Southsea PO5 3AU
Store, 70 Aylesbury Road, Copnor, Portsmouth PO2 7NN
14 Newney Close, Gatcombe Park, Hilsea, Portsmouth PO2 0UH
15 Auckland Road West, Southsea PO5 3NY
The Studio, Market Hill, Cowes, Isle of Wight PO31 7TR
100-102 Clarendon Road, Southsea PO4 0SD
104 Clarendon Road, Southsea PO4 0SD
117 Sultan Road, Landport, Portsmouth PO2 7AS
149 Walmer Road, Fratton, Portsmouth PO1 5AT 306 Chichester Road, North End, Portsmouth PO2 0AS
83 Devonshire Avenue, Southsea PO4 9EB
2 Stubbington Avenue, North End, Portsmouth PO2 0HS The Cottage, Clarence Road, Southsea PO5 2LH
2 St Ronans Road, Southsea PO4 0PT
£25,000
£55,000 - £65,000
£100,000 - £110,000
£20,000
£170,000 - £190,000
£220,000 - £240,000
£115,000 - £125,000
£120,000 - £130,000
£125,000 - £135,000
£180,000 - £190,000
£220,000 - £225,000
£260,000 - £280,000
£370,000 - £390,000
£450,000 - £475,000
Viewing: By appointment with D.M. Nesbit & Co. - Tel: 023 9286 4321. For Auction results view www.nesbits.co.uk
Vendors Solicitors
Lot 1
Churchers Bolitho Way, 12 High Street, Fareham PO16 7BL Lot 2 Warner Goodman LLP, Colman House, 2-4 Landport Terrace Portsmouth PO1 2RG
Lot 3 Churchers Bolitho Way, 13-18 Kings Road, Southsea PO5 3AL Lot 4 Coffin Mew, 3rd Floor, Cumberland House, 15-17 Cumberland Place, Southampton SO15 2Uf
Lot 5 Allens, Pendower House, Cumberland Business Centre,
Northumberland Road, Southsea PO5 1DS
Lot 6 Warner Goodman LLP, Colman House, 2-4 Landport Terrace Portsmouth PO1 2RG
Lot 7 Warner Goodman LLP, Colman House, 2-4 Landport Terrace
Portsmouth PO1 2RG
Lot 8 Andrew & Andrew, Atlantic House, 114 Kingston Crescent,
North End, Portsmouth PO2 8AL
Lot 9 Larcomes, 168 London Road, North End, Portsmouth PO2 9DN
Lot 10 Stokes, 108 Victoria Road North, Southsea PO5 1QQ
Lot 11 Allens, Pendower House, Cumberland Business Park,
Lot 12 Warner Goodman LLP, Colman House, 2-4 Landport Terrace
Portsmouth PO1 2RG
Lot 13 Large & Gibson, Kent House, 49 Kent Road, Southsea PO5 3EJ
Lot 14 Bramsdon & Childs, 141 Elm Grove, Southsea PO5 1HR
Tel: 01329 822333
Ref: Beverley Woodhouse
Tel: 023 9275 3575
Ref: Paul Winslade
Tel: 023 9288 2001
Ref: Francis Worsley
Tel: 023 8033 4661
Ref: Claire Francis
Tel: 023 9282 2411
Ref: John Stephens
Tel: 023 9275 3575
Ref: Jane Futrille
Tel: 023 9275 3575
Ref: Jane Futrille
Tel: 023 9298 9784
Ref: Caroline Banner
Tel: 023 9244 8118
Ref: Paul Lee
Tel: 023 9282 8131
Ref: Victor Summers
Tel: 023 9282 2411
Ref: John Stephens
Tel: 023 9275 3575
Ref: Jane Futrille
Tel: 023 9229 6296
Ref: Ruth Twiney
Tel: 023 9282 1251
Ref: Hannah Rafferty
Agents Notes: None of the statements contained in the particulars of the aforementioned properties are to be relied on as
statements or representations of facts. The particulars do not form part of any contract. Measurements are approximate
www.nesbits.co.uk
2
Government Regulations
To comply with the Money Laundering Regulations all purchasers are required by law to
provide proof of address and identity when completing the purchase procedures for any
property in this sale.
Proof of identity
Confirmation of address
• Any document with photograph issued by an
official authority
• Current Signed Passport
• Current UK Driving Licence or Disabled Driver Pass
• EU State ID Card
• Home Office Resident Permit
• Benefit book or original letter from Benefit Agency
• Utility or Council Tax Bill
• Official letter - solicitors, benefits agency, etc.
• Bank or financial statement
• Tenancy document/rent book, etc.
• Current T.V. Licence.
Your full co-operation will be appreciated
Important Notice to purchasers
A prudent buyer will, before bidding for
any lot at auction
1. Take professional advice from a solicitor or, as
appropriate, from a Chartered Surveyor or Accountant, etc.
2. Make an inspection and note the condition and state
of repair.
3. Carry out searches (if not already part of the Auction
Legal Pack) and make all necessary enquiries.
4. Check the contract of sale, read the conditions of sale,
and any leases or documents.
Each property is sold on the basis that:The purchaser will sign the contract at the conclusion of
the sale.
• The purchaser has made financial arrangement to complete
the purchase by the completion date.
• The purchaser will pay the full 10% deposit to either the
Vendor’s Solicitors or the Auctioneers, as directed. In
addition, the stated Buyer’s Premium will be payable to the
Auctioneers.
The conditions assume that the buyer has acted prudently.
If you choose to buy any lot without taking these normal
precautions, you do so at your own risk.
The sale is subject to “Common Auction conditions”
produced by the Royal Institution of Chartered Surveyors.
3
www.nesbits.co.uk
Information and notes for purchasers
1. Guide Prices
7. Plans & Measurements
•G
uides are supplied as an indication only of each seller’s
minimum expectations, not necessarily the sum at which
a particular Lot will sell. They may be subject to change at
any point prior to the Auction day.
• Each Lot will be offered subject to a reserve price (the sum
below which a sale will not take place under the hammer),
which we expect to be set within any given bracket guide,
or within 10% of a single figure guide.
•P
lease check our website.
All plans and measurements are provided for identification
purposes only and to assist purchasers. Their accuracy is
not guaranteed and all purchasers should make their own
inspections and measurements.
2. Withdrawals/Sales Prior to Auction
There is always the possibility that a client may decide to
conclude a sale prior to the sale date. Wherever possible,
we seek to inform prospective purchasers to avoid expense
or wasted journey. Our policy is to offer as many of the
properties as possible at the Sale. You are strongly advised
to check prior to the Sale that the property in which you
are interested is still to be offered at the sale.
3. Bids Prior to Auction
8. Legal Packs
Legal paperwork, including Local Searches, Title documents,
leases, etc., where appropriate, are available now to be viewed
and downloaded on-line via our website (www.nesbits.co.uk)
and follow the link within “Property Auctions”. Inspection at
our offices is possible by arrangement.
9. Energy Performance Certificates
Where applicable, the Energy Performance Certificate
(EPC) relating to a particular Lot will be contained within
the legal pack and is available either on-line or at the
Auctioneers’ office.
10. Freehold Ground Rents
Pre-sale bids can only be considered on the basis that there
will be an immediate exchange of contracts with the payment
of the full 10% deposit. Offers must be made in writing and
after the property and the legal pack has been inspected. No
bid can be considered if less than 48 hours prior to the Sale.
A special procedure with Notices to lessees is required prior
to a sale by auction of properties in flats sold on long leases.
You should take legal advice. The auction particulars will
indicate the current position.
4. Proxy Bidding
Any lot sold subject to an additional payment for VAT will
be identified and noted within the particulars for any lot.
We are willing to exercise bids on behalf of purchasers
unable to attend the Sale. The appropriate form of
instruction must be completed and lodged with the
Auctioneers, together with the appropriate deposit cheque
not less than 24 hours prior to the Sale. The Auctioneers
accept no responsibility for this service.
5. Purchasers’ Registration
Each purchaser is required to provide their full names
and address, and of their solicitor or legal representative,
together with means of identification. Deposit payments
can only be made by cheque, for which cleared funds are
available. Cash will not be accepted.
The purchaser’s Registration Form must be completed.
6. Inspection & Viewings
All properties can be inspected by prior arrangement
with the Auctioneers. Properties subject to tenancies
can be inspected by prior arrangement only, and at the
convenience of the tenants. Block viewings for vacant
properties are arranged.
IMPORTANT: You are warned that some properties
may be in need of repair and maintenance, or are in a
defective condition. Such inspections are made at
your own risk.
11. Value Added Tax
12. Bidding
As noted in the Conditions of Sale, the vendors reserve their
right to bid on their behalf, or through their agent or the
Auctioneers, up to but not exceeding the reserve price for
any lot.
13. Buyers Premium
A fee of £350, plus V.A.T., is payable, at the same time as
the deposit, upon each lot bought. This will be by way of a
separate cheque, made payable to D. M. Nesbit & Co., for
which a receipt will be issued. In the event of non-payment,
this sum will be deducted from the deposit prior to it being
passed on in advance of completion.
14. Building Insurance
Each successful buyer acquires a legal interest in the
property and should immediately make appropriate building
insurance arrangements if the property is freehold.
15. Deposit
The purchaser will be required to pay immediately a
non-refundable deposit equivalent to 10% of the hammer
price. This is acceptable by cheque or bank transfer. Card
payment is not available.
www.nesbits.co.uk
4
1
5
Garage 6, Southsea Terrace, Southsea PO5 3AU
Guide Price: £25,000
Description: Of interest to private individuals and investors - the wellsituated vacant large single lock-up garage. Forming part of a block to
the rear of a late-Victorian apartment building, the garage itself is of
above-average size, with a replacement corrugated-metal roof, modern
up-and-over door, and teak flooring.
Measurements:
19’8 x 8’6 (5.99m x 2.59m)
Location: Southsea Terrace stands directly opposite The Common, running
between Bellevue Terrace and Western Parade. This very convenient
position borders Old Portsmouth to the west and is less than half a mile
from Southsea Town Centre (Palmerston Road Shopping Precinct).
Service Charge:
£14.95 per month.
www.nesbits.co.uk
LEASEHOLD
Tenure:
99 years Leasehold from 01.04.2003.
(16687/013790)
2
Store, 70 Aylesbury Road, Copnor, Portsouth PO2 7NN
Guide Price: £55,000 - £65,000
Description: Of interest to builders, investors and end-users - a rare
opportunity to acquire this end-terrace store/workshop; now requiring
refurbishment and with much potential. Broadly contemporary with
the neighbouring houses, the premises extend to some 625 sq. ft. over
two floors and are of brick construction under a pitched, slate roof.
They stand behind an open forecourt fronted by a dropped kerb, whilst
to the rear is a small courtyard.
Location: Aylesbury Road runs between New Road and Queens Road,
the store being on the east side close to the junction with the latter.
Within an established residential area, the address places a wide range
of public amenities within a radius of some half a mile only, including:
local shops, bus services, recreation facilities, and various schools.
Planning: The building has no recorded planning history. It has been in
our client’s hands for some fifty years. In addition to continuation of
its former use it is felt that scope may exist for residential conversion/
replacement, subject to the necessary consent. Interested parties must
satisfy themselves upon any and all aspect of future usage through
their own enquiry.
FREEHOLD
staircase to first floor. Square opening from rear elevation to courtyard.
FIRST FLOOR 24’4 x 12’8 (7.42m x 3.86m)
Access to Loft Space. Door to front elevation with flanking windows.
Window to rear elevation. Corner chimney breast.
OUTSIDE
Front Shallow, open forecourt fronted by a dropped kerb.
Rear Small, enclosed courtyard, 15’6 x 7’5 (4.72m x 2.26m),
with walled surround.
SERVICES
There is clear evidence of (past) electricity and water supplies to the
premises, possibly gas also. Interested parties must satisfy themselves as
to the actual position.
SAFETY NOTICE
PARTS OF THE PREMISES ARE CONSIDERED UNSAFE. THOSE VIEWING
ARE ADVISED TO TAKE PARTICULAR CARE WHEN DOING SO. NO
LIABILITY FOR ACCIDENT OR INJURY WILL BE ACCEPTED BY THE
VENDOR OR HIS AGENT.
Accommodation:
(16664/013770)
GROUND FLOOR 24’6 x 12’10 (7.47m x 3.91m)
Pair of timber vehicular doors to front elevation. Inspection pit. Timber
www.nesbits.co.uk
6
3
14 Newney Close, Gatcombe Park, Hilsea, Portsmouth PO2 0UH
Guide Price: £100,000 - £110,000
FREEHOLD
Description: Of interest to owner-occupiers and investors - the
well-situated, newly refurbished 1 bedroom first floor property with
private garage, UPVC replacement double-glazing, electric heating,
equipped kitchen, and a projected rental yield of 7% gross p.a. Flanked
by traditional two-storey houses, and with a pedestrian underpass
beneath it, No. 14 has brick and tile-hung elevations under a flat roof.
The private lock-up garage is in a nearby block. Having just seen the
completion of a comprehensive program of refurbishment, the property
is ready for immediate possession and presents now a good opportunity
for owner-occupation or lucrative letting.
Location: Enjoying a cul-de-sac position immediately off The Ridings,
Newney Close forms part of the modern Gatcombe Park residential
development positioned between London Road and Copnor Road, a
little to the south of Hilsea Roundabout. This is a pleasant and popular
location within comfortable reach of a wide range of public amenities.
Accommodation:
UPVC and obscure double-glazed front door to:
GROUND FLOOR LOBBY
UPVC and obscure double-glazed window. Stairs and part-glazed door to:
FIRST FLOOR
LIVING ROOM/KITCHEN 16’3 x 16’2 overall (4.95m x 4.93m) Door to:
INNER HALL
BATHROOM & W.C.
BEDROOM 10’11 x 9’7 (3.33m x 2.92m)
OUTSIDE (in underpass)
STORE CUPBOARD with circuit breakers.
METER CUPBOARD
PRIVATE GARAGE (in nearby block) 16’9 x 8’0 (5.11m x 2.44m)
EPC ‘C’
7
www.nesbits.co.uk
(16673/013779)
4
15 Auckland Road West, Southsea PO5 3NY
Guide Price: £20,000
FREEHOLD GROUND RENTS
Description: Of interest to investors - the FREEHOLD GROUND RENT
opportunity producing £400 p. a. currently.
£100 p.a., rising after 33 years to £200 p.a., and after a further 33 years
to £400 p.a.
Location: The Freehold reversion is held upon a substantial late-Victorian
corner property well-situated immediately off Southsea Seafront and just
a few hundred yards from Palmerston Road Shopping Centre.
NOTICE: A Section 5 (Landlord’s Offer Notice: Public Auction) Notice
under the Landlord and Tenant Act 1987 has been served upon the
leaseholders who have not reserved their right under legislation. The
leases grant rights to the freeholder to insure and manage the building.
Accommodation:
Viewing: EXTERNAL ONLY.
Each of 4 flats in the building has been SOLD on a 99 year lease from
29th September 1994 (77 years remaining) at an initial Ground Rent of
(16676/13777)
www.nesbits.co.uk
8
5
The Studio, Market Hill, Cowes, Isle Of Wight PO31 7TR
Guide Price: £170,000 - £190,000
Description: Of interest to builders, investors and keen private buyers now requiring comprehensive modernisation, this deceptively spacious
and well-situated 2/3 bedroom character property enjoys delightful views
to the waterfront, The Solent, and mainland. A rare opportunity with
huge potential. Created from the rear part of the former Prince Regent
Public House (recorded as built circa 1910), The Studio features painted
brick elevations under a pitched tile roof, and stands behind a generous,
high-walled courtyard some 47ft x 13ft. The existing layout affords
2 double bedrooms and 3 reception rooms, but lends itself to various
alternatives, notably reversal to allow living space to take full advantage
of the splendid outlook from the upper floor. Following an appropriate
program of refurbishment, this opportunity is considered to have scope
for re-sale, lucrative letting, holiday use, or full owner-occupation.
Location: Part of an historic Conservation Area, Market Hill runs
between Union Road and High Street, placing the property within
comfortable walking distance of Cowes old town centre with its marina,
ferry terminal, shops and restaurants.
Accommodation:
FREEHOLD
CLOAKROOM & W.C.
RECEPTION ONE 13’9 x 10’11 (4.19m x 3.33m)
KITCHEN 13’9 x 7’6 (4.19m x 2.29m)
RECEPTION TWO 15’0 x 8’1 (4.57m x 2.46m)
RECEPTION THREE 12’0 x 11’5 (3.66m x 3.48m)
FIRST FLOOR
SPACIOUS LANDING Main Area: 8’10 x 7’2 (2.69m x 2.18m)
BATHROOM 8’0 x 6’7 (2.44m x 2.01m) Access to Loft Space.
SEPARATE W.C.
DUAL-ASPECT BEDROOM ONE 14’3 x 15’3 (4.34m x 4.65m) Door to:
DUAL-ASPECT BEDROOM TWO 14’0 x 15’3 (4.27m x 4.65m)
OUTSIDE
Front Generous courtyard garden, 47’0 x 13’8 (14.33m x 4.17m), laid to
paving with high-walled surround.
EPC ‘F’
(16613/011743)
Front door to: ENTRANCE HALL Stairs to First Floor.
9
www.nesbits.co.uk
Dack Residential Lettings is one of the leading
Independent Letting Agents covering Portsmouth,
Southsea and the surrounding area.
023 9289 6996
www.dackresidentiallettings.co.uk
67 Osborne Road, Southsea, Hampshire, PO5 3LS
www.nesbits.co.uk
10
Problems
with flats
Lease
extensions
The ownership of leasehold
residential flats frequently
gives rise to disputes.
The reducing term of
a lease for residential
flats can seriously
affect values.
For independent expert
advice – lease extensions,
management & service
charges or Leasehold
Valuation
Tribunals,
to make you
stand out from the rest
consult –
logo design
digital
design
...for fresh
creative solutions
For independent expert
advice, valuations and
negotiations for lease
extensions, consult –
website design
David
Nesbit
FRICS FCIArb
website development
brochures
& leaflets
RICS advertising
Registered Valuer emailer design
exhibitions
Tel: 023 9286 4321
online marketing
t: 0845 834 0906 | e: [email protected]
[email protected]
7www.redpixelcreative.co.uk
Clarendon Road, Southsea, Hants. PO5 2ED
11
9
www.nesbits.co.uk
www.nesbits.co.uk
IMPORTANT
IMPORTANT NOTICE:
NOTICE: A
A Buyer’s
Buyer’s Premium
Premium of
of £350
£350 (plus
(plus V.A.T.)
V.A.T.) per
per lot
lot will
will apply.
apply.
We
We ooffffeerr pprrooxxyy aanndd tteelleepphhoonnee bbiiddddiinngg oonn aallll LLoottss.. FFoorr ffuurrtthheerr iinnffoorrm
maattiioonn,, pplleeaassee ccaallll 002233 99228866 44332211
(%$(#/((!"!)''"*!$&')*,##"!)(+-&,(,+
tailoring solutions to your individual needs
banking
sAccess to a real person seven days a week
sReduce your bank fees and charges
sHow to improve your credit rating
sNew bank accounts opened
sReduce your merchant facilities fees
sDebt consolidation / management
sGeneral advice / consultancy / banking reviews
s Maximise credit interest
sAssistance with business plans
sAccompany to bank meetings
sAssistance with complaints
sAbility to find the best loan at the best rate
from a choice of lenders
sBusiness start up loans and overdrafts arranged
sBusiness purchases / commercial mortgages
sSpecialists in the Enterprise Finance
Guarantee loans
sFranchise expertise
sProperty development and investment loans
sAsset finance, factoring and invoice
discounting specialists
O
sFree pension review
sWill writing service offered
sReferrals to accountants and solicitors
sReview your current mortgage to ensure
it is on the best rate
sNew purchases / remortgages / buy to lets /
shared ownership
sEquity release
sLife cover premium review – are you
paying too much?
sCritical illness / life cover arranged
sPublic liability insurance and all types
of general insurance
Your home may be repossessed if you do not keep up repayments on your mortgage.
Citygold Financial Services Ltd is an approved representative of Intrinsic Financial Services Ltd. Some Buy to Let mortgages are not regulated by the FSA.
CITYGOLD FINANCIAL GROUP
.
...
.
IMPORTANT
IMPORTANT NOTICE:
NOTICE: AABuyer’s
Buyer’s Premium
Premium of
of £350
£350 (plus
(plus V.A.T.)
V.A.T.) per
per lot
lot will
will apply.
apply.
wwww.nesbits.co.uk
w w .nes bits.co.uk
12
10
6
100-102 Clarendon Road, Southsea PO4 0SD
Guide Price: £220,000 - £240,000
LEASEHOLD
Description: Of interest to end-users and investors - the vacant long
leasehold Ground Floor Offices (Class B1 (a)), some 1800 sq. ft., close to
Southsea Seafront and centre.
Formerly The Strand Bar (and prior to that the Captains Table restaurant),
the lower floor of this substantial late-Victorian building was converted
from public house (A4) to the existing offices in 2012 and then significantly
re-fitted. In addition to continuation of the existing use it is felt that there
may be scope for alternatives. Any change would, of course, be subject
to the necessary consents and interested parties are advised to make their
own enquiries in this respect.
KITCHEN 7’11 x 7’5 (2.41m x 2.26m)
STAFF ROOM 21’4 x 7’3 (6.50m x 2.21m) Door to rear yard. Door from Main Office.
Location: Clarendon Road runs from Palmerston Road Shopping Centre to
South Parade, No. 100-102 being on the south side a short distance from
The Strand roundabout. This very convenient location is some 250 yards
only from The Seafront and places the wide-ranging public amenities of
Central Southsea within a radius of approximately three-quarters of a mile.
OUTSIDE 10’0 x 7’10 (3.05m x 2.39m) Covered yard with further small recess
off. Currently opening into the courtyard of 104.
Accommodation:
NOTE 2 Unless the premises are acquired by the same buyer, the existing
openings between 100/102 and 104 will be sealed by the Vendors prior to
completion. Similarly, radiators within No. 104, which are supplied by the
boiler in 100/102, will be disconnected.
Panelled front door to LOBBY and through to:
MAIN OFFICE 22’11 x 15’2 (6.99m x 4.62m) Communicating door to 104.
FRONT OFFICE 1 22’5 x 16’5 (6.83m x 5.00m) Glazed partition and door to
Middle Office.
FRONT OFFICE 2 13’2 x 7’0 (4.01m x 2.13m)
MIDDLE OFFICE 13’3 x 13’10 (4.04m x 4.22m)
STORE ROOM 15’1 x 6’9 (4.60m x 2.06m)
LADIES TOILET Comprising CLOAKROOM with twin hand basins, plus 2
W.C.s (a third being available if required).
GENTS TOILET Comprising Lobby with hand basin, plus 2 cubicles each
with low flush W.C.
DISABLED TOILET Low flush W.C., hand basin.
TOTAL FLOOR AREA 1800 sq ft approx.
NOTE 1 The adjacent Freehold Offices at 104 Clarendon Road, in the same
ownership, are to be offered in this Auction as Lot 7.
Tenure - 999 years leasehold from 01.11.2012
Maintenance Charge - see Legal Pack when available.
Ground Rent - see Legal Pack when available.
(16671/013776)
Door from Main Office to:
INNER LOBBY 23’4 x 6’4 (7.11m x 1.93m)
13
www.nesbits.co.uk
7
104 Clarendon Road, Southsea PO4 0SD
Guide Price: £115,000 - £125,000
FREEHOLD
Description: Of interest to end-users and investors - the vacant freehold
office premises (Class B1) close to Southsea Seafront and centre. Formerly
Southsea Post Office (Class A1) this single-storey period building was
refurbished and converted to offices in 2011. In addition to continuation
of the existing use it is felt that there may be scope for alternatives,
including retail. Any change would, of course, be subject to the
necessary consents and interested parties are advised to make their own
enquiries in this respect.
REAR OFFICE 20’11 x 14’0 (6.38m x 4.27m)
LADIES CLOAKROOM
GENTS CLOAKROOM
Location: Clarendon Road runs from Palmerston Road Shopping
Centre to South Parade, No. 104 being on the south side a short
distance from The Strand roundabout. This very convenient location
is some 250 yards only from The Seafront and places the wide-ranging
public amenities of Central Southsea within a radius of approximately
three-quarters of a mile.
NOTE 1
The adjacent (larger) Ground Floor Offices at 100-102 Clarendon Road, in
the same ownership, are to be offered in this Auction as Lot 6.
Accommodation:
Glazed frontage with flanking pillars and recessed porch having partglazed door to:
FRONT OFFICE 34’4 x 13’4 (10.46m x 4.06m) Presently with
communicating door to 100/102. Door to:
TOTAL FLOOR AREA 738 sq. ft. approx.
OUTSIDE 15’5 x 9’11 (4.70m x 3.02m) Enclosed courtyard, laid to paving
with walled surround, currently opening in to yard of 100/102.
NOTE 2
Unless the premises are acquired by the same buyer, the existing
openings between 104 and 100/102 will be sealed by the Vendors prior
to completion. Similarly, radiators within 104 will be disconnected from
their existing boiler supply situated in the adjacent offices.
Commercial EPC ‘D’
(16670/103775)
www.nesbits.co.uk
14
8
117 Sultan Road, Landport, Portsmouth PO2 7AS
Guide Price: £120,000 - £130,000
Description: Of interest to builders, investors and keen owner-occupiers
- the 3 bedroom property with 24ft lounge/diner, part gas c.h., majority
UPVC double-glazing, wet room and cloakroom; now requiring general
modernisation. This inner-terrace character property has brick elevations
under a modern tiled roof, the facade incorporating single splay bay
window. It stands behind a shallow forecourt whilst to the rear is an
average-sized garden. Extended at the rear and the subject of some
refurbishment in the relatively recent past, the property now, as stated,
is in need of up-dating. Once improved, it will lend itself to owneroccupation or lucrative letting.
Location: Sultan Road lies to the west of the main Kingston Road, No. 117
being on the north side a short distance from the junction with Agincourt
Road and some half a mile only from Commercial Road Shopping Centre.
FREEHOLD
WET ROOM & W.C. 5’9 x 5’3 (1.75m x 1.60m)
KITCHEN 13’4 x 8’8 (4.06m x 2.64m)
FIRST FLOOR
LANDING Access to Loft Space.
BEDROOM ONE 14’2 x 11’0 (4.32m x 3.35m)
BEDROOM TWO 11’10 x 10’9 (3.61m x 3.28m)
BEDROOM THREE 8’10 x 7’5 (2.69m x 2.26m)
CLOAKROOM & W.C.
OUTSIDE
Front Shallow forecourt with walled surround.
Rear Depth: 27’9 (8.46m)
Width: 14’11(4.55m)
Average-sized garden with walled surround.
Accommodation:
EPC ‘D’
Part-glazed front door to:
LONG ENTRANCE HALL
LINKED LIVING AND DINING ROOM 24’3 x 11’0 (7.39m x 3.35m)
15
www.nesbits.co.uk
(16672/013778)
9
149 Walmer Road, Fratton, Portsmouth PO1 5AT
Guide Price: £125,000 - £135,000
Description: Of interest to builders, investors and keen owner-occupiers
- the spacious and conveniently situated 3 bedroom property now
requiring comprehensive modernisation. This inner-terrace character
property has a rendered facade, with single splay bay window, under
a modern tiled roof. It stands behind a shallow forecourt, whilst to
the rear is a small garden. As stated, refurbishment is now needed
throughout, upon completion of which this family home would lend itself
to owner-occupation, re-sale or lucrative letting.
Location: Walmer Road runs from Cornwall Road to Byerley Road, No.
149 being on the west side a short distance from the latter. This position
places a range of public amenities within a radius of some half a mile
only, including: Fratton Station, The Bridge Shopping Centre (ASDA),
other local shops, Kingston Park, and various schools.
FREEHOLD
LIVING ROOM 15’4 x 10’11 (4.67m x 3.33m)
CENTRAL KITCHEN 10’10 x 9’7 (3.30m x 2.92m)
DINING ROOM 13’10 x 9’8 (4.22m x 2.95m)
FIRST FLOOR
BATHROOM
BEDROOM ONE 14’1 x 12’10 (4.29m x 3.91m)
BEDROOM TWO 10’10 x 9’7 (3.30m x 2.92m)
OUTSIDE
Front Shallow forecourt.
Rear Depth: 21’5 (6.53m) (including Shed) Width: 14’0 (4.27m)
Small garden with walled surround. Covered sideway with W.C.
Accommodation:
EPC ‘E’
Part-glazed front door to:
LOBBY
‘L’-SHAPED ENTRANCE HALL
(16669/013774)
www.nesbits.co.uk
16
10
306 Chichester Road, North End, Portsmouth PO2 0AS
Guide Price: £180,000 - £190,000
Description: Of interest to keen owner-occupiers, investors, and builders
- the spacious and well-situated 3 bedroom character family house with
generous garden, useful shed/workshop, gas c.h., and partial doubleglazing; now requiring general modernisation. This inner-terrace property
is of attractive appearance, with brick elevations under a modern tiled
roof, the facade featuring bold double square bay windows with gable.
It stands behind a shallow forecourt, whilst to the rear is a 41ft garden
having southerly aspect, full-width shed/workshop, and the benefit of
pedestrian access. As stated, modernisation is now required, there being
ample scope to create an appealing home well-suited to future family
occupation or lucrative letting.
Location: Chichester Road runs from London Road to Copnor Road, No.
306 being on the south side a short distance from the latter - a popular
and convenient residential address with ready access to a wide range of
public amenities.
Accommodation:
Front door to:
ENTRANCE HALL
LIVING ROOM 15’4 (into bay) x 12’5 (4.67m (into bay) x 3.78m)
DINING ROOM 17’10 x 9’5 (5.44m x 2.87m)
CONSERVATORY 9’6 x 7’6 (2.90m x 2.29m)
17
www.nesbits.co.uk
FREEHOLD
BREAKFAST ROOM 10’4 x 7’7 (3.15m x 2.31m)
KITCHEN 9’1 x 6’4 (2.77m x 1.93m)
FIRST FLOOR
LANDING Access to LOFT SPACE.
SHOWER ROOM & W.C. (formerly with bath)
BEDROOM ONE 15’4 (into bay) x 11’4 (4.67m (into bay) x 3.45m)
BEDROOM TWO 13’8 x 9’6 (4.17m x 2.90m)
OUTSIDE
Front Shallow forecourt with walled surround.
Rear Depth: 41’8 (12.70m) (to shed/workshop) Width: 19’9 (6.02m)
Generous garden with southerly aspect.
FULL-WIDTH SHED/WORKSHOP 18’8 x 5’8 extending to 10’11
(5.69 x 1.73 to 3.33m)
LEAN-TO GARDEN STORE 6’11 x 6’8 (2.11m x 2.03m)
CLOAKROOM & W.C.
EPC ‘E’
(16668/013773)
11
83 Devonshire Avenue, Southsea PO4 9EB
Guide Price: £220,000 - £225,000
FREEHOLD
POSTPONED
UNTIL 17TH
NOVEMBER
Description: Of interest to builders, investors and keen private buyers the spacious and well-situated 3 double bedroom character family house
now requiring general modernisation.
This inner-terrace Edwardian property has brick elevations under
a modern tiled roof, the facade incorporating pillared porch and
replacement square bay windows. It stands behind a shallow forecourt,
whilst to the rear is a small garden with walled surround. Attractively,
the house retains many of its original interior features and fittings,
notably ornate fireplaces. As stated, general refurbishment is required
throughout, there being considerable scope now to create a home with
much to commend it.
Location: Devonshire Avenue runs between Devonshire Square and
Eastney Road, No. 83 being on the north side close to the junction with
Winter Road - a popular and very convenient position placing a wide
range of public amenities within a radius of some three-quarters of a mile
only, including: Southsea Seafront, local shops, Milton and Bransbury
parks, main-line station, and various schools.
Accommodation:
Pillared PORCH with front door to:
SPACIOUS ENTRANCE HALL
LIVING ROOM 14’9 (into bay) x 14’3 (4.50m)
DINING ROOM 15’1 x 11’1 (4.60m x 3.38m)
LEAN-TO CONSERVATORY
BREAKFAST ROOM 12’0 x 11’1 (3.66m x 3.38m)
KITCHEN 9’3 x 9’3 (2.82m x 2.82m)
ENCLOSED REAR PORCH W.C. off
FIRST FLOOR
LANDING
BATHROOM Access to Loft Space.
SEPARATE W.C.
BEDROOM ONE 14’6 (into bay) x 15’0 (4.42m (into bay)
BEDROOM TWO 15’5 x 11’0 (4.70m x 3.35m)
CELLAR
HALL with COAL STORE OFF
MAIN ROOM 14’6 x 13’3 (4.42m x 4.04m) Ceiling Height 7’2 (2.18m)
OUTSIDE
Front Shallow forecourt.
Rear Depth: 28’0 (8,53m) max. Width: 23’0 (7.01m) max. ‘L’-shaped garden
with walled surround and northerly aspect.
EPC ‘E’
(16586/010725)
www.nesbits.co.uk
18
12
2 Stubbington Avenue, North End, Portsmouth PO2 0HS
Guide Price: £260,000 - £280,000
Description: Of interest to developers, investors and others - the
substantial and well-situated vacant semi-detached property with gas
c.h., partial double-glazing, off-street parking for 5/6 cars, and detached
Annexe; recently occupied as offices, now with considerable potential
for a variety of uses including residential conversion (subject to consent).
This attractive Edwardian building has brick elevations under a pitched,
slate roof and features bay windows to the front and side. It stands behind
a deep forecourt and has an open-plan former rear garden, between
them providing off-street parking for 5 or 6 cars. Also to the rear is the
unusual and attractive asset of a younger, single-storey, brick-built Annexe
extending to some 445 sq. ft. Originally a 4/5 bedroom family house, and
most recently occupied as offices (including the Annexe), it is felt that
these premises offer scope for a range of future uses, residential conversion
being among them. Interested parties must satisfy themselves as to the
existing official use, together with possible alternatives, through approach
to Portsmouth City Council Planning Department.
Location: Stubbington Avenue runs from London Road to Copnor Road,
No. 2 standing in a prominent corner position on the south side and a short
distance from the former - convenient to local shopping together with bus
services, schools, recreation facilities, and motorway access.
Accommodation:
Part-glazed outer door to ENCLOSED PORCH
FRONT ROOM 15’9 (into bay) x 14’7 (4.80m x 4.45m) Communicating door
to Middle Room.
MIDDLE ROOM 19’11 x 12’11 (6.07m x 3.94m)
CONSERVATORY 11’7 x 8’5 (3.53m x 2.57m)
INNER HALL with CLOAKROOM & W.C. off
REAR ROOM 13’9 (into recess) x 9’11 (4.19m x 3.02m) Doors to Offices 1 & 2.
OFFICE ONE 12’10 x 5’3 (3.91m x 1.60m)
19
www.nesbits.co.uk
FREEHOLD
OFFICE TWO 14’1 x 5’3 (4.29m x 1.60m)
FIRST FLOOR
‘L’-SHAPED LANDING
FRONT ROOM 15’11 (into bay) x 14’8 (4.85m x 4.47m)
MIDDLE ROOM 14’0 (into bay) x 12’10 (4.27m x 3.91m)
CLOAKROOM & W.C. 8’0 x 4’10 (2.44m x 1.47m)
CLOAKROOM & W.C.
KITCHEN 7’8 x 5’10 (2.34m x 1.78m)
REAR ROOM 11’0 x 10’4 (3.35m x 3.15m)
TOP (SECOND) FLOOR
SMALL LANDING
FRONT ROOM 14’4 x 8’6 (4.37m x 2.59m)
REAR ROOM 12’4 x 11’4 (3.76m x 3.45m)
ANNEXE Of brick construction under a flat roof; extending to 445 sq.ft.
approx. UPVC and obscure double-glazed door to:
ROOM ONE 13’4 x 10’8 (4.06m x 3.25m)
LOBBY off. Door to:
SEPARATE W.C.
KITCHENETTE 6’9 x 5’7 (2.06m x 1.70m)
ROOM TWO 16’2 x 9’10 (4.93m x 3.00m)
ROOM THREE 9’5 x 6’4 (2.87m x 1.93m)
OUTSIDE
Front Deep, open-plan forecourt with off-street parking for two cars.
Rear Depth: 33’0 (10.06m) (to Annexe) Width: 24’0 (7.32m) A further openplan area, providing off-street parking for three/four cars.
Commercial EPC ‘D’
(1661/013771)
13
The Cottage, Clarence Road, Southsea PO5 2LH
Guide Price: £370,000 - £390,000
Description: In the heart of Central Southsea, a rare and individual
opportunity with enormous potential - with off-street parking and
en-suite, this detached 3 (formerly 4) bedroom family house also enjoys
a delightful open aspect; it now requires general refurbishment. Dating
from the 1930s, the house itself has brick and rendered elevations with
double bay windows under a pitched and tiled main roof. It stands
behind a deep forecourt which provides a short car hardstand, whilst
to the rear is a sunny enclosed patio garden. A wide sideway affords
useful storage space for cycles, etc. Available to the open market for
the first time since 1975 (when sold at Auction by Nesbit & Co. for
£15,400), “The Cottage” was intended as a private home for our client
who has begun a program of renovation. With only modest work
undertaken to date (re-wiring, some replacement windows, stripping of
plaster, etc.), the project has halted and the property is presented now
as an interesting and appealing blank canvas for a buyer’s own tastes
and ideas.
Location: Clarence Road lies immediately to the south of Clarendon
Road, “The Cottage” being on the west side directly opposite the
tree-planted open space of Clarendon Gardens. This desirable and
exceptionally convenient position places the wide-ranging public
amenities of Central Southsea within comfortable walking distance,
being some 400 yards only from Palmerston Road Shopping Precinct and
a similar distance from The Common and Seafront.
FREEHOLD
Accommodation:
Panelled front door to:
LOBBY
OPEN-PLAN RECEPTION HALL 14’0 x 8’0 (4.27m x 2.44m) Wide opening into:
LIVING AND DINING ROOM 37’9 x 12’6 to 10’7 (11.51m x 3.81m to 3.23m)
KITCHEN/BREAKFAST ROOM 23’0 x 7’10 (7.01m x 2.39m)
UTILITY LOBBY 6’3 x 5’5 (1.91m x 1.65m) Door to:
GARDEN ROOM 8’4 x 8’4 (2.54m x 2.54m)
FIRST FLOOR
BATHROOM & W.C.
MASTER BEDROOM 16’6 (into bay) x 12’4 (5.03m x 3.76m) Door to:
EN-SUITE SHOWER ROOM & W.C. 9’8 x 7’10 (2.95m x 2.39m) (Formerly a bedroom)
BEDROOM TWO 15’10 x 12’5 (4.83m x 3.78m)
OUTSIDE
Front Deep forecourt. Dropped kerb granting access to shallow
CAR HARDSTAND.
Access to enclosed wide sideway.
Rear Width: 19’9 (6.02m) (to Garden Room) Depth: 20’0 (6.10m)
Enclosed patio garden.
EPC ‘F’
(16628/012751)
www.nesbits.co.uk
20
14
21
2 St Ronans Road, Southsea PO4 0PT
Guide Price: £450,000 - £475,000
www.nesbits.co.uk
FREEHOLD
Description: A unique and outstanding opportunity with many
unexpected qualities - set in an unusually large and well-screened plot
convenient to Southsea Centre, this virtually detached 4 bedroom
character family residence boasts a self-contained lower flat, private
garage plus off-street parking, generous living space, en-suite facilities,
and striking period features. It now requires renovation and holds
immense potential
The subject of re-modelling in the 1970s, and available now to the open
market for the first time in 37 years, this individual Victorian property
has rendered elevations under a modern tiled roof, its facade (currently
somewhat less than aesthetically pleasing perhaps) incorporating bow
window and Gothic-arched porch. It stands behind a forecourt parking
area, whilst to the south side is a large 63ft x 40ft garden with garage.
As stated, renovation is now required throughout, the property
presenting a most interesting and desirable blank canvas for the new
owner’s tastes and ideas. All in all a project with great scope to create a
home of considerable merit and appeal.
Location: St Ronans Road runs from Waverley Road to Albert Road, No.
2 being on the east side in the lee of St Simon’s Church directly opposite.
This position is a short walk from The Seafront and around half a mile
only from Southsea Town Centre with its wide range of public amenities.
Accommodation:
Steps, with pierced stonework balustrade, to GOTHIC-ARCHED PORCH
Pair of imposing Gothic-arched panelled oak doors to:
LOBBY 8’0 x 6’1 (2.44m x 1.85m)
RECEPTION HALL 17’0 x 8’11 (5.18m x 2.72m)
DRAWING & DINING ROOM 24’0 x 15’1 to 21’8 (7.32m x 4.60m to 6.60m)
FITTED & EQUIPPED KITCHEN 14’1 x 10’8 (4.29m x 3.25m)
ENCLOSED REAR PORCH
STUDY 12’5 x 12’3 (3.78m x 3.73m) Approached from the Drawing/Dining
Room via a pair of part-glazed doors. Pair of patio doors to Garden
Terrace.
Steps down from Reception Hall to:
LOWER HALF LANDING Door to:
LIVING ROOM 13’1 x 12’2 (3.99m x 3.71m)
BASEMENT UTILITY ROOM 15’1 x 11’1 (4.60m x 3.38m)
UPPER REAR HALF LANDING Having access to secondary staircase
leading to Bedroom 2.
GUEST BEDROOM SUITE 12’0 x 11’8 (3.66m x 3.56m)
EN-SUITE BATHROOM & W.C. 9’9 x 6’1 (2.97m x 1.85m)
MAIN FIRST FLOOR
LANDING
CLOAKROOM & W.C.
BEDROOM TWO 13’10 x 12’1 (4.22m x 3.68m) This room is approached
from the half landing below via its own secondary staircase.
BEDROOM FOUR 7’10 x 6’1 (2.39m x 1.85m)
MASTER BEDROOM SUITE 20’8 x 15’3 to 21’3 (6.30m x 4.65m to 6.48m)
Door to:
ROOF TERRACE 15’4 x 11’8 (4.67m x 3.56m)
EN-SUITE BATHROOM & W.C. 11’2 x 9’0 (3.40m x 2.74m) Approached
from the Master Bedroom via steps and double doors.
LOWER GROUND FLOOR FLAT
Having private entrance at side of main house via door to:
LOBBY
UTILITY ROOM off 7’4 x 6’5 (2.24m x 1.96m)
INNER HALL 9’11 x 8’11 (3.02m x 2.72m)
BATHROOM & W.C. 8’10 x 4’7 (2.69m x 1.40m)
BEDROOM 17’2 x 14’1 (5.23m x 4.29m)
LIVING ROOM 20’6 x 15’2 (6.25m x 4.62m)
Access to useful STORE ROOM.
KITCHEN 11’10 x 10’0 (3.61m x 3.05m)
OUTSIDE
FORECOURT A deep, open-plan area which provides HARDSTAND FOR
TWO CARS.
REAR COURTYARD 20’0 x 19’9 (6.10m x 6.02m) Approached from the
main garden via an arched doorway. Access to lower flat. Timber SAUNA.
MAIN GARDEN 63’0 x 40’0 average (19.20m x 12.19m) To the south of the
house, overlooked by its principal rooms. Pair of wrought-iron gates to
the forecourt. Steps up to:
TERRACE 37’0 x 11’6 (11.28m x 3.51m) Access from Study and Kitchen.
GARAGE 23’0 (max) x 9’3 (7.01 x 2.82m)
EPC ‘F’
(16611/013767)
www.nesbits.co.uk
22
Registered Charity Nº 1142186
For more information and opening
times call 023 9281 9385 or visit
royalmarinesmuseum.co.uk
Explore the fascinating
stories of the
Royal Marines from
1664 to the present day.
To gain a whole year’s
free entry, Gift Aid
your admission fee.
EASTNEY ESPLANADE | SOUTHSEA | HAMPSHIRE | PO4 9PX
Sell by Auction
S M A LL H OU SE S • FLAT S • SHOPS • L ARGE HOUS ES • L AND • GARAG E S
Are you an owner or executor with a property in
this area? You can achieve the best price, quickly,
and with total control, by SELLING AT AUCTION
entries now
being invited for
future sales
For FREE, no obligation advice
contact the Auction Team
7 Clarendon Road, Southsea PO5 2ED
023 9286 4321 • www.nesbits.co.uk
23
www.nesbits.co.uk
• Recommended by many
local Solicitors
• The only City-based
Saleroom
• 80 Years of Auctions in
the City
• Unrivalled local knowledge
and experience
!
Telephone & Proxy Bidding
Registration Form
I hereby instruct Nesbits to bid on my behalf in accordance with the Terms & Conditions and I acknowledge that
should my bid be successful then that bid and offer will be binding upon me. I confirm that Nesbits may take my proxy
bid when the relevant property is being offered at the Auction.
Please fill in sections 1 to 9:
1. AUCTION:
LOT No:
2. BIDDER’S
NAME:
LOT
ADDRESS:
ADDRESS:
EMAIL:
3. MAXIMUM BID PRICE:
4. BUYER’S
NAME:
(IN WORDS):
£
5. TEL
No:
(if different from above)
6. DEPOSIT
ARRANGEMENTS:
8. ADDENDUM:
(alternatively mobile no.)
7. LEGAL PAPERS:
Cheque/Banker’s Draft enclosed
Bidder is deemed to have had sight of and understood all
legal papers in respect of the lot
9. SOLICITORS
NAME:
(Bidder’s fax no)
ADDRESS:
TEL No:
!
Return to: Nesbits, including
Proxy Bidding Registration Form, 10% deposit cheque and Proof of identity
Purchaser
Registration Form
Purchaser:
FULL NAMES:
POST CODE:
ADDRESS:
TELEPHONE NUMBER (STD CODE):
No:
MOBILE No:
EMAIL:
Solicitors:
COMPANY NAME:
CONTACT NAME:
ADDRESS:
TELEPHONE NUMBER (STD CODE):
POST CODE:
No:
www.nesbits.co.uk
24
Telephone & Proxy Bidding
Registration Form
1. The registration form must be completed in all respects to
enable authority to be given to the auctioneers.
2. A cheque representing 10% of the maximum bid made
payable to D M Nesbit & Company must accompany the
application. In addition, the stated Buyer’s Premium will be
payable to the Auctioneers. If successful, the
bidder/purchaser will be required to provide all necessary
identification to comply with Money Laundering.
3. Telephone or proxy bidding will only be acceptable for
the actual potential purchaser.
5. Any bid will be executed by the auctioneers up to, and
not exceeding, the maximum bid, and the bid will not be
disclosed to the Vendor or any other parties.
6. If the bid is successful, then that bid will be binding on
the purchaser and the auctioneer is authorised to sign the
contracts on behalf of the buyer.
7. D M Nesbit & Company accept no liability whatsoever for
the failure to execute any bid for whatever reason. All
persons leaving bids will be informed, and if unsuccessful
deposit cheques will be returned by post.
4. The completed forms must be received by D M Nesbit &
Company not later than 11.00 a.m. on the Day Prior to the Sale.
Offers
Pre-sale bids can only be considered on the basis that there
will be an immediate exchange of contracts with the
payment of the full 10% deposit and the administration fee.
No bid can be considered if less than 48 hours prior to
the Sale.
Offers must be made in writing and after the property and
legal documentation has been inspected.
25
www.nesbits.co.uk
FINE ART AUCTIONS
Tel: 023 9229 5568
Email: [email protected]
Catalogue: www.nesbits.co.uk
Bid online at our auctions through
the-saleroom.com
We are the only auction house in Portsmouth and South East Hampshire.
The Southsea Salerooms are conveniently located in
Southsea’s main shopping centre.
Our experienced and friendly staff will assist with all your enquiries.
Entries now being invited for our forthcoming sale
12th October 2016
Henry Capt ormolu
and porcelain
repeat alarm clock
Sold for £11,052
inc. premium
Polar Medal Group of six to: 295848
Bernard James Stone
sold for £14,994 inc. premium
5ct Solitaire
Diamond Ring
sold for £14,740 inc.
premium
Viewing: Saturday 10.00am - 1.00pm • Monday & Tuesday 9.30am - 5.00pm
www.nesbits.co.uk
26
Common Auction Conditions
Glossary
This glossary applies to the auction conduct
conditions and the sale conditions.
Wherever it makes sense:
• s ingular 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;
• r eferences to legislation are to that legislation
as it may have been modified or re-enacted by
the date of the auction or the contract date (as
applicable); and
•w
here the following words printed in bold black
type appear in bold blue type they have the
specified meanings.
Actual completion date
The date when completion takes place or is
treated as taking place 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 oral announcement 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 Banking Code or Business Banking Code or is
otherwise acceptable to the auctioneers.
Arrears
Arrears of rent and other sums due under the
tenancies and still outstanding 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 conduct conditions.
Auctioneers
The auctioneers at the auction.
Business day
Any day except (a) a Saturday or a Sunday; (b) a
bank holiday in England 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 the buyer their
obligations can be enforced against them jointly or
against each of them separately.
Financial charge
A charge to secure a loan or other financial
indebtness (not including a rentcharge).
General conditions
That part of the sale conditions so headed,
including any extra general 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 the case may be) the property that the seller
has agreed to sell and the 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 each lot (as varied by any
addendum).
Practitioner
An insolvency practitioner for the purposes of the
Insolvency Act 1986 (or, in relation to jurisdictions
outside the United Kingdom, any similar official).
A2.2 Our decision on the conduct of the auction
is final.
A2.3 We may cancel the auction, or alter the order
in which lots are offered for sale. We may also
combine or divide lots. A lot may be sold or
withdrawn from sale prior to the auction.
A2.4 You acknowledge that to the extent permitted
by law we owe you no duty of care and you have
no claim against us for any loss.
A3.1 All bids are to be made in pounds sterling
exclusive of any applicable VAT.
A3.2 We may refuse to accept a bid. We do not
have to explain why.
A5.5 The deposit:
(a) is to be held as stakeholder where VAT would be
chargeable on the deposit were it to be held as
agent for the seller, but otherwise is to be held
as stated in the sale conditions; and
(b) m
ust be paid in pounds sterling by cheque or
by bankers’ draft made payable to us on an
approved financial institution. The extra
auction conduct conditions may state if we
accept any other form of payment.
A5.6 We may retain the sale memorandum signed
by or on behalf of the seller until the deposit has
been received in cleared funds.
A5.7 If the buyer does not comply with its
obligations under the contract then:
(a) y
ou are personally liable to buy the lot even if
you are acting as an agent; and
(b) y
ou 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 buyer is 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
£……..... (or the total price, if less). A special
condition may, however, require a higher
minimum deposit.
A3.3 If there is a dispute over bidding we are
entitled to resolve it, and our decision is final.
Ready to complete
Ready, willing and able to complete: if completion
would enable the seller to discharge all financial
charges secured on the lot that have to be
discharged by completion, then those
outstanding financial charges do not prevent the
seller from being ready to complete.
A3.4 Unless stated otherwise each lot is subject to
a reserve price (which may be fixed just before the
lot is offered for sale). If no bid equals or exceeds
that reserve price the lot will be withdrawn from
the auction.
General conditions
of sale
A3.5 Where there is a reserve price the seller
may bid (or ask us or another agent to bid on the
seller’s behalf) up to the reserve price but may
not make a bid equal to or exceeding the reserve
price. You accept that it is possible that all bids up
to the reserve price are bids made by or on behalf
of the seller.
The general conditions (including any extra
general conditions) apply to the contract except to
the extent that they are varied by special
conditions or by an addendum.
Sale conditions
The general conditions as varied by any special
conditions or addendum.
Sale memorandum
The form so headed (whether or not set out in the
catalogue) in which the terms of the contract for
the sale of the lot are recorded.
Seller
The person selling the lot. If two or more are
jointly the seller their obligations can be enforced
against them jointly or against each of them
separately.
Special conditions
Those of the sale conditions so headed that relate
to the lot.
Tenancies
Tenancies, leases, licences to occupy and
agreements for lease and any documents varying
or supplemental to them.
Completion
Unless otherwise agreed between seller and buyer
(or their conveyancers) the occasion when both
seller and buyer have complied with their
obligations under the contract and the balance of
the price is unconditionally received in the seller’s
conveyancer’s client account.
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.
A3.6 Where a guide price (or range of prices) is
given that guide is the minimum price at which, or
range of prices within which, the seller might be
prepared to sell at the date of the guide price. But
guide prices may change. The last published guide
price will normally be at or above any reserve
price, but not always – as the seller may fix the
final reserve price just before bidding commences.
A4 The particulars and other information
A4.1 We have taken reasonable care to prepare
particulars that correctly describe each lot. The
particulars are based on information supplied by
or on behalf of the seller. You need to check that
the information in the particulars is correct.
A4.2 If the special conditions do not contain a
description of the lot, or simply refer to the
relevant lot number, you take the risk that the
description contained in the particulars is
incomplete or inaccurate, as the particulars have
not been prepared by a conveyancer and are not
intended to form part of a legal contract.
A4.3 The particulars and the sale conditions may
change prior to the auction and it is your
responsibility to check that you have the correct
versions.
A4.4 If we provide information, or a copy of a
document, provided by others we do so only on the
basis that we are not responsible for the accuracy
of that information or document.
A5 The contract
We (and us and our). The auctioneers.
Contract date
The date of the auction or, if the lot is not sold at
the auction:
(a) t he date of the sale memorandum signed by
both the seller and buyer; or
(b) if contracts are exchanged, the date of
exchange. If exchange is not effected in person
or by an irrevocable agreement to exchange
made by telephone, fax or electronic mail the
date of exchange is the date on which both
parts have been signed and posted or otherwise
placed beyond normal retrieval.
You (and your). Someone who has a copy of the
catalogue or who attends or bids at the auction,
whether or not a buyer.
Documents
Documents of title (including, if title is registered,
A1.2 The catalogue is issued only on the basis that
you accept these auction conduct conditions.
www.nesbits.co.uk
A2 Our role
A2.1 As agents for each seller we have
authority to:
(a) p
repare the catalogue from information
supplied by or on behalf of each seller;
(b) offer each lot for sale;
(c) sell each lot;
(d) receive and hold deposits;
(e) sign each sale memorandum; and
(f) t reat a contract as repudiated if the buyer fails
to sign a sale memorandum or pay a deposit as
required by these auction conduct conditions.
A5.4 If you do not we may either:
(a) a
s agent for the seller treat that failure as your
repudiation of the contract and offer the lot
for sale again: the seller may then have a claim
against you for breach of contract; or
(b) sign the sale memorandum on your behalf.
Price
The price that the buyer agrees to pay for the lot.
Tenancy schedule
The tenancy schedule (if any) forming part of the
special conditions.
Contract
The contract by which the seller agrees to sell and
the buyer agrees to buy the lot.
They govern our relationship with you and cannot
be disapplied or varied by the sale conditions
(even by a condition purporting to replace the
whole of the Common Auction Conditions). They
can be varied only if we agree.
A3 Bidding and reserve prices
Catalogue
The catalogue to which the conditions refer
including any supplement to it.
Condition
One of the auction conduct conditions or sales
conditions.
27
the entries on the register and the title plan) and
other documents listed or referred to in the
special conditions relating to the lot.
Auction conduct
conditions
A5.1 A successful bid is one we accept as such
(normally on the fall of the hammer). This
condition A5 applies to you if you make the
successful bid for a lot.
A5.2 You are obliged to buy the lot on the terms
of the sale memorandum at the price you bid
plus VAT (if applicable).
A1 Introduction
A1.1 Words in bold blue type have special
meanings, which are defined in the Glossary.
A5.3 You must before leaving the auction:
(a) p
rovide all information we reasonably need
from you to enable us to complete the sale
memorandum (including proof of your identity
if required by us);
(b) sign the completed sale memorandum; and
(c) pay the deposit.
Words in bold blue type have special meanings,
which are defined in the glossary
G1. The lot
G1.1 The lot (including any rights to be granted or
reserved, and any exclusions from it) is described in
the special conditions, or if not so described the
lot is that referred to in the sale memorandum.
G1.2 The lot is sold subject to any tenancies
disclosed by the special conditions, but otherwise
with vacant possession on completion.
G1.3 The lot is sold subject to all matters contained
or referred to in the documents, but excluding any
financial charges: these the seller must discharge
on or before completion.
G1.4 The lot is also sold subject to such of the
following as may affect it, whether they arise
before or after the contract date and whether or
not they are disclosed by the seller or are apparent
from inspection of the lot or from the documents:
(a) m
atters registered or capable of registration as
local land charges;
(b) m
atters registered or capable of registration
by any competent authority or under the
provisions of any statute;
(c) n
otices, orders, demands, proposals and
requirements of any competent authority;
(d) c harges, notices, orders, restrictions,
agreements and other matters relating to town
and country planning, highways or public
health;
(e) r ights, easements, quasi-easements, and
wayleaves;
(f) outgoings and other liabilities;
(g) a
ny interest which overrides, within the
meaning of the Land Registration Act 2002;
(h) m
atters that ought to be disclosed by the
searches and enquiries a prudent buyer would
make, whether or not the buyer has made
them; and
(i) anything the seller does not and could not
reasonably know about.
G1.5 Where anything subject to which the lot is
sold would expose the seller to liability the buyer
is to comply with it and indemnify the seller
against that liability.
G1.6 The seller must notify the buyer of any notices,
orders, demands, proposals and requirements of
any competent authority of which it learns after
the contract date but the buyer must comply with
them and keep the seller indemnified.
Common Auction Conditions - continued
G1.7 The lot does not include any tenant’s or trade
fixtures or fittings.
G1.8 Where chattels are included in the lot the
buyer takes them as they are at completion and
the seller is not liable if they are not fit for use.
G1.9 The buyer buys with full knowledge of:
(a) the documents, whether or not the buyer has
read them; and
(b) the physical condition of the lot and what could
reasonably be discovered on inspection of it,
whether or not the buyer has inspected it.
G1.10 The buyer is not to rely on the information
contained in the particulars but may rely on the
seller’s conveyancer’s written replies to preliminary
enquiries to the extent stated in those replies.
G2. Deposit
G2.1 The amount of the deposit is the greater of:
(a) any minimum deposit stated in the auction
conduct conditions (or the total price, if this is
less than that minimum); and
(b) 10% of the price (exclusive of any VAT on
the price).
G2.2 The deposit
(a) must be paid in pounds sterling by cheque or
banker’s draft drawn on an approved financial
institution (or by any other means of payment
that the auctioneers may accept);
and
(b) is to be held as stakeholder unless the auction
conduct conditions provide that it is to be held
as agent for the seller.
G2.3 Where the auctioneers hold the deposit as
stakeholder they are authorised to release it (and
interest on it if applicable) to the seller on
completion or, if completion does not take place,
to the person entitled to it under the sale
conditions.
G2.4 If a cheque for all or part of the deposit is not
cleared on first presentation the seller may treat
the contract as at an end and bring a claim
against the buyer for breach of contract.
G2.5 Interest earned on the deposit belongs to the
seller unless the sale conditions provide
otherwise.
G3. Between contract and completion
G3.1 Unless the special conditions state
otherwise, the seller is to insure the lot from and
including the contract date to completion and:
(a) produce to the buyer on request all relevant
insurance details;
(b) pay the premiums when due;
(c) if the buyer so requests, and pays any additional
premium, use reasonable endeavours to increase
the sum insured or make other changes to the
policy;
(d) at the request of the buyer use reasonable
endeavours to have the buyer’s interest noted
on the policy if it does not cover a contracting
purchaser;
(e) unless otherwise agreed, cancel the insurance at
completion, apply for a refund of premium and
(subject to the rights of any tenant or other third
party) pay that refund to the buyer; and
(f) (subject to the rights of any tenant or other third
party) hold on trust for the buyer any insurance
payments that the seller receives in respect of
loss or damage arising after the contract date or
assign to the buyer the benefit of any claim; and
the buyer must on completion reimburse to the
seller the cost of that insurance (to the extent not
already paid by the buyer or a tenant or other
third party) for the period from and including the
contract date to completion.
G3.2 No damage to or destruction of the lot nor
any deterioration in its condition, however caused,
entitles the buyer to any reduction in price, or to
delay completion, or to refuse to complete.
G3.3 Section 47 of the Law of Property Act 1925
does not apply.
G3.4 Unless the buyer is already lawfully in
occupation of the lot the buyer has no right to
enter into occupation prior to completion.
G4. Title and identity
G4.1 Unless condition G4.2 applies, the buyer
accepts the title of the seller to the lot as at the
contract date and may raise no requisition or
objection except in relation to any matter that
occurs after the contract date.
G4.2 If any of the documents is not made
available before the auction the following
provisions apply:
(a) The buyer may raise no requisition on or
objection to any of the documents that is made
available before the auction.
(b) If the lot is registered land the seller is to give
to the buyer within five business days of the
contract date an official copy of the entries on
the register and title plan and, where noted on
the register, of all documents subject to which
the lot is being sold.
(c) If the lot is not registered land the seller is to
give to the buyer within five business days an
abstract or epitome of title starting from the root
of title mentioned in the special conditions (or,
if none is mentioned, a good root of title more
than fifteen years old) and must produce to the
buyer the original or an examined copy of every
relevant document.
(d) If title is in the course of registration, title is to
consist of certified copies of:
(i) the application for registration of title made to
the land registry;
(ii) the documents accompanying that
application;
(iii) evidence that all applicable stamp duty
land tax relating to that application has been
paid; and
(iv) a letter under which the seller or its
conveyancer agrees to use all reasonable
endeavours to answer any requisitions raised by
the land registry and to instruct the land registry
to send the completed registration documents
to the buyer.
(e) The buyer has no right to object to or make
requisitions on any title information more than
seven business days after that information has
been given to the buyer.
G4.3 Unless otherwise stated in the special
conditions the seller sells with full title guarantee
except that (and the transfer shall so provide):
(a) the covenant set out in section 3 of the Law of
Property (Miscellaneous Provisions) Act 1994 shall
not extend to matters recorded in registers open
to public inspection; these are to be treated as
within the actual knowledge of the buyer; and
(b) the covenant set out in section 4 of the Law of
Property (Miscellaneous Provisions) Act 1994
shall not extend to any condition or tenant’s
obligation relating to the state or condition of
the lot where the lot is leasehold property.
G4.4 The transfer is to have effect as if expressly
subject to all matters subject to which the lot is
sold under the contract.
G4.5 The seller does not have to produce, nor may
the buyer object to or make a requisition in
relation to, any prior or superior title even if it is
referred to in the documents.
G4.6 The seller (and, if relevant, the buyer) must
produce to each other such confirmation of, or
evidence of, their identity and that of their
mortgagees and attorneys (if any) as is necessary for
the other to be able to comply with applicable Land
Registry Rules when making application for
registration of the transaction to which the
conditions apply.
G5. Transfer
G5.1 Unless a form of transfer is prescribed by the
special conditions:
(a) the buyer must supply a draft transfer to the
seller at least ten business days before the
agreed completion date and the engrossment
(signed as a deed by the buyer if condition G5.2
applies) five business days before that date or (if
later) two business days after the draft has been
approved by the seller; and
(b) the seller must approve or revise the draft
transfer within five business days of receiving it
from the buyer.
G5.2 If the seller remains liable in any respect in
relation to the lot (or a tenancy) following
completion the buyer is specifically to covenant
in the transfer to indemnify the seller against
that liability.
G5.3 The seller cannot be required to transfer the
lot to anyone other than the buyer, or by more
than one transfer.
G6. Completion
G6.1 Completion is to take place at the offices of
the seller’s conveyancer, or where the seller
may reasonably require, on the agreed
completion date. The seller can only be
required to complete on a business day and
between the hours of 0930 and 1700.
G6.2 The amount payable on completion is the
balance of the price adjusted to take account of
apportionments plus (if applicable) VAT and
interest.
G6.3 Payment is to be made in pounds sterling and
only by:
(a) direct transfer to the seller’s conveyancer’s
client account; and
(b) the release of any deposit held by a stakeholder.
G6.4 Unless the seller and the buyer otherwise
agree, completion cannot take place until both
have complied with their obligations under the
contract and the balance of the price is
unconditionally received in the seller’s
conveyancer’s client account.
G6.5 If completion takes place after 1400 hours
for a reason other than the seller’s default it is to
be treated, for the purposes of apportionment and
calculating interest, as if it had taken place on the
next business day.
G6.6 Where applicable the contract remains in
force following completion.
G7. Notice to complete
G7.1 The seller or the buyer may on or after the
agreed completion date but before completion
give the other notice to complete within ten
business days (excluding the date on which the
notice is given) making time of the essence.
G7.2 The person giving the notice must be ready
to complete.
G7.3 If the buyer fails to comply with a notice to
complete the seller may, without affecting any
other remedy the seller has:
(a) terminate the contract;
(b) claim the deposit and any interest on it if held by
a stakeholder;
(c) forfeit the deposit and any interest on it;
(d) resell the lot; and
(e) claim damages from the buyer.
G7.4 If the seller fails to comply with a notice to
complete the buyer may, without affecting any
other remedy the buyer has:
(a) terminate the contract; and
(b) recover the deposit and any interest on it from
the seller or, if applicable, a stakeholder.
G8. If the contract is brought to an end
If the contract is lawfully brought to an end:
(a) the buyer must return all papers to the seller
and appoints the seller its agent to cancel any
registration of the contract; and
(b) the seller must return the deposit and any
interest on it to the buyer (and the buyer may
claim it from the stakeholder, if applicable) unless
the seller is entitled to forfeit the deposit under
condition G7.3.
G9. Landlord’s licence
G9.1 Where the lot is or includes leasehold land and
licence to assign is required this condition G9 applies.
G9.2 The contract is conditional on that licence
being obtained, by way of formal licence if that is
what the landlord lawfully requires.
G9.3 The agreed completion date is not to be
earlier than the date five business days after the
seller has given notice to the buyer that licence
has been obtained.
G9.4 The seller must:
(a) use all reasonable endeavours to obtain the
licence at the seller’s expense; and
(b) enter into any authorised guarantee agreement
properly required.
G9.5 The buyer must:
(a) promptly provide references and other relevant
information; and
(b) comply with the landlord’s lawful requirements.
G9.6 If within three months of the contract date
(or such longer period as the seller and buyer
agree) the licence has not been obtained the seller
or the buyer may (if not then in breach of any
obligation under this condition G9) by notice to
the other terminate the contract at any time
before licence is obtained. That termination is
without prejudice to the claims of either seller or
buyer for breach of this condition G9.
G10. Interest and apportionments
G10.1 If the actual completion date is after the
agreed completion date for any reason other
than the seller’s default the buyer must pay
interest at the interest rate on the price (less any
deposit paid) from the agreed completion date
up to and including the actual completion date.
G10.2 Subject to condition G11 the seller is not
obliged to apportion or account for any sum at
completion unless the seller has received that
sum in cleared funds. The seller must pay to the
buyer after completion any sum to which the
buyer is entitled that the seller subsequently
receives in cleared funds.
G10.3 Income and outgoings are to be apportioned
at actual completion date unless:
(a) the buyer is liable to pay interest; and
(b) the seller has given notice to the buyer at any
time up to completion requiring apportionment
on the date from which interest becomes payable
by the buyer; in which event income and
outgoings are to be apportioned on the date from
which interest becomes payable by the buyer.
G10.4 Apportionments are to be calculated on the
basis that:
(a) the seller receives income and is liable for
outgoings for the whole of the day on which
apportionment is to be made;
(b) annual income and expenditure accrues at an
equal daily rate assuming 365 days in a year, and
income and expenditure relating to some other
period accrues at an equal daily rate during the
period to which it relates; and
(c) where the amount to be apportioned is not
known at completion apportionment is to be
made by reference to a reasonable estimate and
further payment is to be made by seller or buyer
as appropriate within five business days of the
date when the amount is known.
G11. Arrears
Part 1 Current rent
G11.1 “Current rent” means, in respect of each of the
tenancies subject to which the lot is sold, the
instalmentof rent and other sums payable by the
tenant in advance on the most recent rent payment
date on or within four months preceding completion.
G11.2 If on completion there are any arrears of
current rent the buyer must pay them, whether or
not details of those arrears are given in the
special conditions.
G11.3 Parts 2 and 3 of this condition G11 do not
apply to arrears of current rent.
Part 2 Buyer to pay for arrears
G11.4 Part 2 of this condition G11 applies where
the special conditions give details of arrears.
G11.5 The buyer is on completion to pay, in
addition to any other money then due, an amount
equal to all arrears of which details are set out in
the special conditions.
G11.6 If those arrears are not old arrears the
seller is to assign to the buyer all rights that the
seller has to recover those arrears.
Part 3 Buyer not to pay for arrears
G11.7 Part 3 of this condition G11 applies where
the special conditions:
(a) so state; or
(b) give no details of any arrears.
G11.8 While any arrears due to the seller remain
unpaid the buyer must:
(a) try to collect them in the ordinary course of
management but need not take legal proceedings
or forfeit the tenancy;
(b) pay them to the seller within five business days
of receipt in cleared funds (plus interest at the
interest rate calculated on a daily basis for each
subsequent day’s delay in payment);
(c) on request, at the cost of the seller, assign to
the seller or as the seller may direct the right to
demand and sue for old arrears, such assignment
to be in such form as the seller’s conveyancer
may reasonably require;
(d) if reasonably required, allow the seller’s
conveyancer to have on loan the counterpart of
any tenancy against an undertaking to hold it to
the buyer’s order;
(e) not without the consent of the seller release any
tenant or surety from liability to pay arrears
or accept a surrender of or forfeit any tenancy
under which arrears are due; and
(f) if the buyer disposes of the lot prior to recovery
of all arrears obtain from the buyer’s successor
in title a covenant in favour of the seller in
similar form to part 3 of this condition G11.
G11.9 Where the seller has the right to recover
arrears it must not without the buyer’s written
consent bring insolvency proceedings against a
tenant or seek the removal of goods from the lot.
G12. Management
G12.1 This condition G12 applies where the lot is
sold subject to tenancies.
G12.2 The seller is to manage the lot in
accordance with its standard management policies
pending completion.
G12.3 The seller must consult the buyer on all
management issues that would affect the buyer
after completion (such as, but not limited to, an
application for licence; a rent review; a variation,
surrender, agreement to surrender or proposed
forfeiture of a tenancy; or a new tenancy or
agreement to grant a new tenancy) and:
(a) the seller must comply with the buyer’s
reasonable requirements unless to do so would
(but for the indemnity in paragraph (c)) expose
the seller to a liability that the seller would not
otherwise have, in which case the seller may
act reasonably in such a way as to avoid that
liability;
(b) if the seller gives the buyer notice of the seller’s
intended act and the buyer does not object
within five business days giving reasons for
the objection the seller may act as the seller
intends; and
(c) the buyer is to indemnify the seller against all
loss or liability the seller incurs through acting as
the buyer requires, or by reason of delay caused
by the buyer.
G13. Rent deposits
G13.1 This condition G13 applies where the seller is
www.nesbits.co.uk
28
Common Auction Conditions - continued
holding or otherwise entitled to money by way of
rent deposit in respect of a tenancy. In this
condition G13 “rent deposit deed” means the deed or
other document under which the rent deposit is held.
(b) to submit the value specified in the special
conditions to HM Revenue and Customs for the
purposes of their respective capital allowance
computations.
G13.2 If the rent deposit is not assignable the seller
must on completion hold the rent deposit on
trust for the buyer and, subject to the terms of
the rent deposit deed, comply at the cost of the
buyer with the buyer’s lawful instructions.
G17. Maintenance agreements
G13.3 Otherwise the seller must on completion
pay and assign its interest in the rent deposit to
the buyer under an assignment in which the
buyer covenants with the seller to:
(a) observe and perform the seller’s covenants and
conditions in the rent deposit deed and
indemnify the seller in respect of any breach;
(b) give notice of assignment to the tenant; and
(c) give such direct covenant to the tenant as may be
required by the rent deposit deed.
G14. VAT
G14.1 Where a sale condition requires money to
be paid or other consideration to be given, the
payer must also pay any VAT that is chargeable
on that money or consideration, but only if given
a valid VAT invoice.
G14.2 Where the special conditions state that no
VAT option has been made the seller confirms that
none has been made by it or by any company in the
same VAT group nor will be prior to completion.
G15. Transfer as a going concern
G15.1 Where the special conditions so state:
(a) the seller and the buyer intend, and will take all
practicable steps (short of an appeal) to procure,
that the sale is treated as a transfer of a going
concern; and
(b) this condition G15 applies.
G15.2 The seller confirms that the seller
(a) is registered for VAT, either in the seller’s name or
as a member of the same VAT group; and
(b) has (unless the sale is a standard-rated supply)
made in relation to the lot a VAT option that
remains valid and will not be revoked before
completion.
G15.3 The buyer confirms that:
(a) it is registered for VAT, either in the buyer’s
name or as a member of a VAT group;
(b) it has made, or will make before completion,
a VAT option in relation to the lot and will not
revoke it before or within three months after
completion;
(c) article 5(2B) of the Value Added Tax (Special
Provisions) Order 1995 does not apply to it; and
(d) it is not buying the lot as a nominee for another
person.
G15.4 The buyer is to give to the seller as early as
possible before the agreed completion date
evidence:
(a) of the buyer’s VAT registration;
(b) that the buyer has made a VAT option; and
(c) that the VAT option has been notified in writing
to HM Revenue and Customs; and if it does
not produce the relevant evidence at least two
business days before the agreed completion
date, condition G14.1 applies at completion.
G15.5 The buyer confirms that after completion
the buyer intends to:
(a) retain and manage the lot for the buyer’s
own benefit as a continuing business as a going
concern subject to and with the benefit of the
tenancies; and
(b) collect the rents payable under the tenancies
and charge VAT on them
G15.6 If, after completion, it is found that the sale
of the lot is not a transfer of a going concern then:
(a) the seller’s conveyancer is to notify the buyer’s
conveyancer of that finding and provide a VAT
invoice in respect of the sale of the lot;
(b) the buyer must within five business days of
receipt of the VAT invoice pay to the seller the
VAT due; and
(c) if VAT is payable because the buyer has not
complied with this condition G15, the buyer
must pay and indemnify the seller against all
costs, interest, penalties or surcharges that the
seller incurs as a result.
G16. Capital allowances
G16.1 This condition G16 applies where the
special conditions state that there are capital
allowances available in respect of the lot.
G16.2 The seller is promptly to supply to the
buyer all information reasonably required by the
buyer in connection with the buyer’s claim for
capital allowances.
G16.3 The value to be attributed to those items on
which capital allowances may be claimed is set out
in the special conditions.
G16.4 The seller and buyer agree:
(a) to make an election on completion under
Section 198 of the Capital Allowances Act 2001 to
give effect to this condition G16; and
29
www.nesbits.co.uk
G17.1 The seller agrees to use reasonable
endeavours to transfer to the buyer, at the
buyer’s cost, the benefit of the maintenance
agreements specified in the special conditions.
G17.2 The buyer must assume, and indemnify the
seller in respect of, all liability under such
contracts from the actual completion date.
G18. Landlord and Tenant Act 1987
G18.1 This condition G18 applies where the sale is
a relevant disposal for the purposes of part I of the
Landlord and Tenant Act 1987.
G18.2 The seller warrants that the seller has
complied with sections 5B and 7 of that Act and
that the requisite majority of qualifying tenants
has not accepted the offer.
G19. Sale by practitioner
G19.1 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 the firm to which the practitioner
belongs has any personal liability in connection
with the sale or the performance of the seller’s
obligations. The transfer is to include a
declaration excluding that personal liability.
G19.4 The lot is sold:
(a) in its condition at completion;
(b) for such title as the seller may have; and
(c) with no title guarantee; and the buyer has no
right to terminate the contract or any other
remedy if information provided about the lot is
inaccurate, incomplete or missing.
G19.5 Where relevant:
(a) the documents must include certified copies
of those under which the practitioner is
appointed, the document of appointment and the
practitioner’s acceptance of appointment; and
(b) the seller may require the transfer to be by the
lender exercising its power of sale under the Law
of Property Act 1925.
G19.6 The buyer understands this condition G19
and agrees that it is fair in the circumstances of a
sale by a practitioner.
G20. TUPE
G20.1 If the special conditions state “There are no
employees to which TUPE applies”, this is a
warranty by the seller to this effect.
G20.2 If the special conditions do not state
“There are no employees to which TUPE applies”
the following paragraphs apply:
(a) The seller must notify the buyer of those
employees whose contracts of employment
will transfer to the buyer on completion (the
“Transferring Employees”). This notification must
be given to the buyer not less than 14 days
before completion.
(b) The buyer confirms that it will comply with
its obligations under TUPE and any special
conditions in respect of the Transferring
Employees.
(c) The buyer and the seller acknowledge that pursuant
and subject to TUPE, the contracts of employment
between the Transferring Employees and the seller
will transfer to the buyer on completion.
(d) The buyer is to keep the seller indemnified
against all liability for the Transferring Employees
after completion.
G21. Environmental
G21.1 This condition G21 only applies where the
special conditions so provide.
G21.2 The seller has made available such reports
as the seller has as to the environmental
condition of the lot and has given the buyer the
opportunity to carry out investigations (whether
or not the buyer has read those reports or
carried out any investigation) and the buyer
admits that the price takes into account the
environmental condition of the lot.
G21.3 The buyer agrees to indemnify the seller in
respect of all liability for or resulting from the
environmental condition of the lot.
G22. Service Charge
sold subject to tenancies that include service
charge provisions.
G22.2 No apportionment is to be made at
completion in respect of service charges.
G22.3 Within two months after completion the
seller must provide to the buyer a detailed service
charge account for the service charge year current
on completion showing:
(a) service charge expenditure attributable to each
tenancy;
(b) payments on account of service charge received
from each tenant;
(c) any amounts due from a tenant that have not
been received;
(d) any service charge expenditure that is not
attributable to any tenancy and is for that
reason irrecoverable.
G22.4 In respect of each tenancy, if the service
charge account shows that:
(a) payments on account (whether received or still
then due from a tenant) exceed attributable
service charge expenditure, the seller must pay
to the buyer an amount equal to the excess when
it provides the service charge account;
(b) attributable service charge expenditure exceeds
payments on account (whether those payments
have been received or are still then due), the
buyer must use all reasonable endeavours to
recover the shortfall from the tenant at the next
service charge reconciliation date and pay the
amount so recovered to the seller within five
business days of receipt in cleared funds; but in
respect of payments on account that are still due
from a tenant condition G11 (arrears) applies.
G22.5 In respect of service charge expenditure that
is not attributable to any tenancy the seller must
pay the expenditure incurred in respect of the
period before actual completion date and the
buyer must pay the expenditure incurred in
respect of the period after actual completion
date. Any necessary monetary adjustment is to be
made within five business days of the seller
providing the service charge account to the buyer.
G22.6 If the seller holds any reserve or sinking
fund on account of future service charge
expenditure or a depreciation fund:
(a) the seller must pay it (including any interest
earned on it) to the buyer on completion; and
(b) the buyer must covenant with the seller to hold
it in accordance with the terms of the tenancies
and to indemnify the seller if it does not do so.
G23. Rent reviews
sold subject to a tenancy under which a rent
review due on or before the actual completion
date has not been agreed or determined.
G23.2 The seller may continue negotiations or rent
review proceedings up to the actual completion
date but may not agree the level of the revised rent
or commence rent review proceedings without the
written consent of the buyer, such consent not to
be unreasonably withheld or delayed.
G23.3 Following completion the buyer must
complete rent review negotiations or proceedings
as soon as reasonably practicable but may not
agree the level of the revised rent without the
written consent of the seller, such consent no to
be unreasonably withheld or delayed.
G23.4 The seller must promptly:
(a) give to the buyer full details of all rent review
negotiations and proceedings, including copies of
all correspondence and other papers; and
(b) use all reasonable endeavours to substitute
the buyer for the seller in any rent review
proceedings.
G23.5 The seller and the buyer are to keep each
other informed of the progress of the rent review
and have regard to any proposals the other
makes in relation to it.
G23.6 When the rent review has been agreed or
determined the buyer must account to the seller
for any increased rent and interest recovered from
the tenant that relates to the seller’s period of
ownership within five business days of receipt of
cleared funds.
G23.7 If a rent review is agreed or determined
before completion but the increased rent and any
interest recoverable from the tenant has not been
received by completion the increased rent and any
interest recoverable is to be treated as arrears.
G23.8 The seller and the buyer are to bear their
own costs in relation to rent review negotiations
and proceedings.
G24. Tenancy renewals
G24.1 This condition G24 applies where the tenant
under a tenancy has the right to remain in
occupation under part II of the Landlord and
Tenant Act 1954 (as amended) and references to
notices and proceedings are to notices and
proceedings under that Act.
G24.2 Where practicable, without exposing the
seller to liability or penalty, the seller must not
without the written consent of the buyer (which
the buyer must not unreasonably withhold or
delay) serve or respond to any notice or begin or
continue any proceedings.
G24.3 If the seller receives a notice the seller
must send a copy to the buyer within five
business days and act as the buyer reasonably
directs in relation to it.
G24.4 Following completion the buyer must:
(a) with the co-operation of the seller take
immediate steps to substitute itself as a party to
any proceedings;
(b) use all reasonable endeavours to conclude any
proceedings or negotiations for the renewal
of the tenancy and the determination of any
interim rent as soon as reasonably practicable at
the best rent or rents reasonably obtainable; and
(c) if any increased rent is recovered from the tenant
(whether as interim rent or under the renewed
tenancy) account to the seller for the part of
that increase that relates to the seller’s period of
ownership of the lot within five business days of
receipt of cleared funds.
G24.5 The seller and the buyer are to bear their
own costs in relation to the renewal of the
tenancy and any proceedings relating to this.
G25. Warranties
G25.1 Available warranties are listed in the special
conditions.
G25.2 Where a warranty is assignable the seller must:
(a) on completion assign it to the buyer and give
notice of assignment to the person who gave the
warranty; and
(b) apply for (and the seller and the buyer must use
all reasonable endeavours to obtain) any consent
to assign that is required. If consent has not been
obtained by completion the warranty must
be assigned within five business days after the
consent has been obtained.
G25.3 If a warranty is not assignable the seller
must after completion:
(a) hold the warranty on trust for the buyer; and
(b) at the buyer’s cost comply with such of the
lawful instructions of the buyer in relation to
the warranty as do not place the seller in breach
of its terms or expose the seller to any liability
or penalty.
G26. No assignment
The buyer must not assign, mortgage or otherwise
transfer or part with the whole or any part of the
buyer’s interest under this contract.
G27. Registration at the Land Registry
G27.1 This condition G27.1 applies where the lot is
leasehold and its sale either triggers first registration
or is a registrable disposition. The buyer must at its
own expense and as soon as practicable:
(a) procure that it becomes registered at Land
Registry as proprietor of the lot;
(b) procure that all rights granted and reserved by
the lease under which the lot is held are properly
noted against the affected titles; and
(c) provide the seller with an official copy of the
register relating to such lease showing itself
registered as proprietor.
G27.2 This condition G27.2 applies where the lot
comprises part of a registered title. The buyer must
at its own expense and as soon as practicable:
(a) apply for registration of the transfer;
(b) provide the seller with an official copy and title
plan for the buyer’s new title; and
(c) join in any representations the seller may
properly make to Land Registry relating to the
application.
G28. Notices and other communications
G28.1 All communications, including notices, must
be in writing. Communication to or by the seller or
the buyer may be given to or by their conveyancers.
G28.2 A communication may be relied on if:
(a) delivered by hand; or
(b) made electronically and personally acknowledged
(automatic acknowledgement does not count); or
(c) there is proof that it was sent to the address of
the person to whom it is to be given (as specified
in the sale memorandum) by a postal service
that offers normally to deliver mail the next
following business day.
G28.3 A communication is to be treated as received:
(a) when delivered, if delivered by hand; or
(b) when personally acknowledged, if made
electronically; but if delivered or made after 1700
hours on a business day a communication is to
be treated as received on the next business day.
G28.4 A communication sent by a postal service that
offers normally to deliver mail the next following
business day will be treated as received on the
second business day after it has been posted.
G29. Contracts (Rights of Third Parties) Act 1999
No one is intended to have any benefit under the
contract pursuant to the Contract (Rights of Third
Parties) Act 1999.
G30. Extra General Conditions
Sales Memorandum
DATE:
NAME & ADDRESS OF SELLER:
NAME & ADDRESS OF BUYER:
THE LOT:
THE PRICE (EXCLUDING ANY VAT):
£
DEPOSIT PAID:
£
The seller agrees to sell and the buyer agrees to buy the lot for the price. This agreement is subject to the sale
conditions so far as they apply to the lot.
We acknowledge receipt of the deposit................................................................................................................................
SIGNED BY THE BUYER:
SIGNED BY US AS AGENT FOR THE SELLER:
The buyer’s conveyancer is:
NAME:
ADDRESS:
CONTACT:
The seller’s conveyancer is:
NAME:
ADDRESS:
CONTACT:
!
www.nesbits.co.uk
30
D.M.Nesbit & Company
7 Clarendon Road, Southsea
Portsmouth, Hampshire PO5 2ED
T: 023 9286 4321
F: 023 9229 5522
www.nesbits.co.uk

Property Auction

Transcription

Similar documents

Guidance For Development Of An Emergency Fallout Shelter

[email protected] CAMPBELL FAMILY

Enfield Auction Bill

Flyer - Lange Auctions

Ewins Farm - Soy Capital Ag Services

Receiver`s Second Report

Home Buyer Guide

NuFloTM Liquid Turbine Flowmeter User Manual

agreement for purchase and sale of goods

Mincom New Choice Realty Ltd. Brokerage Brochure