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Auction Catalog
 

Auction Catalog

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    Auction Catalog Auction Catalog Document Transcript

    • Property Auction Catalogue Wednesday 15th December 2010 Holiday Inn, Hull Marina Starts 3pmTel: 01482 409294
    • Auction Venue Holiday Inn, Hull Marina Castle Street, Hull HU1 2BXTransportation To and From Hotel:Distance: 20 miles south of the hotel Station Name: Hull Train StationHumberside Airport (HUM) TrainAfter leaving the airport take the Croxton Road Distance: 0.1 miles to Hotel.heading for the A18 at the roundabout take the Right at the train station, through 2 sets of trafficsigns for the A15 heading towards the Humber lights move into left lane marked for the IceBridge, over the bridge and take signs for Hull Arena, the hotel is first on the left.City Centre. From the M62 join the A63 in to Hull. Left at the Driving DirectionsDistance: 70 miles west of the Hotel. junction signposted for City Centre N/Prospect/StLeeds/Bradford (LBF)Follow signs for the M62 east (Hull), join the A63 Stephens then into right lane (signs for Iceand head for City Centre. Arena/Kingston Park). Cross over A63 then into left lane and turn into Commercial Road. Take the first left (opposite The Whittington & Cat pub) into Hotels rear car park. 1 www.tusculum.co.uk
    • Important Notes for Auction BiddersThese notes and the auction terms and conditions are contained in the auction catalogue and online at www.tusuclum.co.uk.All potential Buyers and their legal representatives are advised to read them prior to bidding. All reasonable efforts have beenmade by the Auctioneer and Vendor to ensure that the properties in this catalogue are described fairly.Particulars of SalePotential buyers should take full responsibility to check and confirm the particulars of the sale and to satisfy their ownrequirements regarding the accuracy of all details, measurements, locations, boundaries, leases, searches, photographs, plansand condition of property. All measurements, areas and distances referred to are approximate.Guide PricesGuide prices are intended solely as an indication of the price the vendor is trying to achieve and must not be relied upon bypotential buyers as a valuation. The guide prices are subject to fluctuation prior to auction and interested parties are advisedto confirm the guide price for variations. The final reserve price on any property may exceed or be below the published guide.Reserve PriceThis is the minimum price that is acceptable to the vendor for selling their lot in the auction room. This figure is not publishedand is a private agreement between the Auctioneer and the Vendor.ComparablesWhere price comparables and rental incomes are quoted they are believed to be fair but are to be used for guidance only andtheir accuracy cannot be guaranteed.Conditional Auction Terms & ConditionsOn the fall of the gavel the Buyer must pay a non-refundable Reservation Fee equivalent to 4% of the sale price (subject to aminimum of £4,000). Exchange of contracts must occur in 28 days and completion in a further 14 days.Reservation FeeUnless otherwise stated, each property is sold subject to a Reservation Fee. This fee does not form part payment of the finalnegotiated sale price and is paid to Tusculum Property Auctions by either Banker’s draft, debit or credit card.RegistrationYou must complete a Bidders registration and identification form before you will be able to bid. Proof of identification (originalsonly, no photocopies) and Solicitors details are required at the time of registration. On the day of the auction you should alsoremember to bring with you your catalogue and debit/credit card or banker’s draft.Remote BiddingIf you are unable to attend the auction, bidding is available remotely by telephone or proxy bid. The Remote Bidding Form isprovided either in the auction catalogue or online at www.tusculum.co.uk.Sale AgreedWhere a sale is agreed prior to the auction, at the auction or after the auction, auction terms and conditions apply. At this stageyou will be asked to provide a Reservation Fee (4%, subject to a minimum of £4,000) and we will then prepare theAcknowledgement of Reservation form for you to sign. Vendors may choose to accept an offer prior to the auction and withdrawthe property from the sale. It is recommended that all potential Buyers confirm the specific lot they are interested in is stillincluded in the auction sale. The Auctioneers or Vendors cannot be held responsible for any costs incurred against lots that arewithdrawn or sold prior.Amendments to CatalogueAn addendum will be displayed at the auction showing any alterations to the information contained in the catalogue. It is theBuyer’s responsibility to check this prior to bidding.What if the lot I want is unsold?Please make yourselves known to a member of the auction team and register your highest bid and we will contact the vendorto ask them for their instructions. If your bid is acceptable then we will contact you. 3 www.tusculum.co.uk
    • Order of SaleCommencing 3pm Lot Address Post Code Guide Price 1 78 Essex Street, Hull HU4 6PR £40k+ 2 5 Camden Street, Hull HU3 3JB £40-45k 3 51 Mayfield Street, Hull HU3 1NT £55k+ 4 23-25 (including 25a) Southcoates Lane, Hull HU9 3AY £80-90k 5 542 Hessle Road, Hull HU3 5BQ £90-100k 6A Flat 4, 163 Boulevard, Hull HU3 3EJ £20-25k 6B Flat 5, 163 Boulevard, Hull HU3 3EJ £20-25k 7 37 Regis Court, Hull HU9 4TW £25-30k 8 25 Lorraine Street, Hull HU8 8EG £40k+ 9 188 Spring Bank, Hull HU3 1PG £60-70k 10 486 Southcoates Lane, Hull HU9 3UB £95-105k 11 31 Cadogan Street, Hull HU3 3HP £35-40k 12 5 Somerset Avenue, Franklin Street, Hull HU9 1JD £32k+ 4 www.tusculum.co.uk
    • LOT 1 - 78 Essex Street, Hull, HU4 6PR No. 78 is a mid-terraced 2 bedroom house that has 2 bed investment recently been fully property Essex Street is located to refurbished including the west of the City Centre central heating, uPVC and is close to all amenities double glazing, new including shops, schools kitchen and bathroom. and good transport links into Hull City Centre and It is tenanted on an AST at Hessle. £350pcm.Guide price: £40k+LOT 2* - 5 Camden Street, Hull, HU3 3JB through lounge, kitchen and rear yard with 2 bedrooms and a Vacant 2 bed house, bathroom to the first floor. ready to move in or to The property benefits from uPVC let Camden Street is located off double glazing, gas central Airlie Street, off the Boulevard heating and is in a lettable and has excellent road condition and would rent for c. connections to both the city £375 pcm. centre and A63/M62. The area also offers convenient access to Sold with vacant possession. local shops and schools. *Tusculum Property Auctions have an No. 5 is a mid-terraced property existing personal interest in this comprising: entrance hall, property.Guide Price: £40-45kLOT 3 - 51 Mayfield Street, Hull, HU3 1NT and majority double glazed house. The property consists Vacant 4 bed house, ready of entrance hall, separate to move in or to let Mayfield Street is located off living room, kitchen -diner, Spring Bank and is within bathroom and rear lobby. walking distance of the city First floor consists of three centre and St Stephen’s bedrooms. There is a fourth shopping centre and close to bedroom on the top floor. local shops and amenities on The property is in a lettable Princes Avenue. condition and would rent for c. £475 pcm. No. 51 is a mid-terraced 4 bedroom, centrally heated Sold with vacant possession.Guide Price: £55k+ 5 www.tusculum.co.uk
    • LOT 4 - 23-25 (including 25a) Southcoates Lane, Hull, HU9 3AY There is also a garage to the rear. Mixed use investment property This property is situated in a To the first floor is a 2 bedroom prominent position on the corner flat (25a) and this is currently of Southcoates Lane and let, along with the garage, on Newcomen Street and is close to an AST with combined income of the junction of Holderness Road. £309.83 pcm. The property comprises a Ground Floor Retail/Office unit retail/office unit to the ground is currently vacant and is being floor with 4 consulting rooms, an marketed at a rent of £7,500p.a. open plan office, staff kitchen facilities and two toilets.Guide Price: £80-90kLOT 5 - 542 Hessle Road, Hull, HU3 5BQ advertising hoarding on the gable end and this is let to JC Mixed use investment property Decaux for £700p.a. 542 Hessle Road is well situated on the corner of Hessle Road There are two one bed flats to and Brighton Street on one of the first floor and both are the main arterial routes into the currently let on ASTs at £303.33 city. pcm each. It consists of a retail unit on the Total Income per Annum: ground floor that is currently let £12,140. to CASE Training Services (local charity) on a 2 year lease for £4,160 p.a. There is anGuide Price: £90-100kLOT 6A - Flat 4, 163 Boulevard, Hull, HU3 3EJ Flat 4 is a first floor 1 bed flat and it requires some 1 bed flat requiring minor refurbishment and minor refurbishment The Boulevard runs subject to this the rental between Anlaby Road and value would be c. £300 Hessle Road with excellent pcm. road connections giving access to the City Centre Sold with vacant and the A63/M62. The possession area also offers convenient access to local shops and schools.Guide Price: £20-25k 6 www.tusculum.co.uk
    • LOT 6B - Flat 5, 163 Boulevard, Hull, HU3 3EJ Flat 5 is a second floor 1 bed flat and is in lettable 1 bed flat The Boulevard runs condition and the expected between Anlaby Road and rental value would be Hessle Road with excellent c. £300 pcm. road connections giving access to the City Centre Sold with vacant and the A63/M62. The possession area also offers convenient access to local shops and schools.Guide Price: £20-25kLOT 7 - 37 Regis Court, Hull, HU9 4TW The flat benefits from double glazing and electric Tenanted 1 bed flat Situated off Marfleet Lane heating; internally there is and close to Holderness a good sized living space, Road offering excellent double bedroom, fitted access to the City Centre kitchen and bathroom. and a wide range of local There is one allocated amenities. parking space. The block consists of thirty Tenanted on an AST at leasehold apartments in £303.33 pcm. total and is in good general order.Guide Price £25-30kLOT 8 - 25 Lorraine Street, Hull, HU8 8EG floor bathroom. The property has recently been Vacant 2 bed house – fully refurbished including fully refurbished Lorraine Street is situated central heating, uPVC to the east of the City double glazing, new Centre close to a local kitchen and bathroom. The primary school and with rental value is c. £370 good road access to the pcm. main arterial routes. Sold with vacant No.25 is an end-terraced 2 possession. bedroom house with firstGuide Price: £40k + 7 www.tusculum.co.uk
    • LOT 9 - 188 Spring Bank, Hull, HU3 1PG The accommodation comprises a bedsit and 2 one bedroom flats. Mixed use investment property The accommodation is currently with scope to add value This property is within walking vacant and requires refurbishment distance of the City Centre and St throughout. It has the potential to be Stephen’s shopping centre, with converted into 2 spacious one primary bus routes along the whole bedroom flats with separate of Spring Bank. entrances. The ground floor is a self contained The whole property could achieve a retail unit currently let as a café at rental income of c.£14,000 p.a. £6,000 p.a. after refurbishment. The residential accommodation is accessed via a rear entrance.Guide Price: £60-70kLOT 10 - 486 Southcoates Lane, Hull, HU9 3UB Ground floor: Entrance hall, living room, dining room, Tenanted 3 bed house Southcoates Lane is located bathroom, kitchen. handily nearby to Holderness Master bedroom with en Road amenities and bus suite, 2 further bedrooms. routes with leisure facilities available at East Park and the Front garden, rear garden Woodford Leisure Centre. with vehicle access. No. 486 is a semi-detached Tenanted on an AST at house comprising: £500pcmGuide price: £95-105kLOT 11 - 31 Cadogan Street, Hull, HU3 3HP No. 31 is an end-terraced 2 bedroom property that Tenanted 2 bed house Cadogan Street is located off benefits from uPVC double Gordon Street, off the glazing, and gas central Boulevard and has excellent heating. road connections to both the City Centre and A63/M62. Tenanted on an AST at £303.33pcm. The area also offers convenient access to local shops, schools and is within walking distance of Hull RoyalGuide Price: £35-40k Infirmary. 8 www.tusculum.co.uk
    • LOT 12 - 5 Somerset Avenue, Franklin Street, Hull, HU9 1JD comprising: Entrance hall, living room, kitchen with 2 bedrooms Vacant 2 bed house requiring and bathroom to the first floor. refurbishment Franklin Street is located to the east of the City Centre off The property requires Holderness Road. This area refurbishment, however does benefits from a wide range of benefit from gas central heating shops and schools whilst also and is partially double glazed. being less than half a mile from the city centre. Sold with vacant possession No. 5 Somerset Avenue is at the eastern end of Franklin Street and is an end terrace houseGuide Price: £32k + END OF SALE 9 www.tusculum.co.uk
    • Financethat won’t cost you the shirt offyour back!…Fast!DMI Finance is an independent MortgageBrokerage which specialises in arrangingfinance within an AUCTION timescale.We can arrange funding on ALL typesof property including:Buy-to-Let, Shops, Offices, HMO’s,Pubs, Land, Developments, andNon-standard constructionhouses and flats.Please call us now to discussyour specific requirements. Tel: 01249 652 939 DMI Finance, PO Box 3257, Chippenham, SN15 9DH Tel: 01249 652 939 Fax: 01249 655 788 E-mail: info@dmifinance.com www.dmifinance.com
    • Bidders Registration and I.D. FormPlease complete the following details in full and in block capitals and provide two forms of identification prior tobidding as detailed in Lists A & B below. Original documents MUST be provided, photocopies are NOTacceptable.If bidding on behalf of a company, and if successful, you will also be required to present a copy of the Certificateof Incorporation and a letter of authority on company letterheaded paper and signed by a company director priorto signing the contract.Bidder:First name(s) ................................................................... Surname ....................................................................Address ....................................................................................................................................................................................................................................................................................Postcode ......................................Tel no ............................................................................... Mobile .....................................................................Bidder’s solicitor:Firm ..................................................................... Contact name ......................................................................Address ......................................................................................................................................................................................................... Postcode ...................................... Tel no ................................................................Bidder’s signature .................................................................................... Date ............................................Data Protection: The information that you provide on this form and the identification documentation detailsrequested are required under the Money Laundering Regulations 2007 for identification and security purposes. Thedetails may also be supplied to other parties if Tusculum Property Auctions are legally required to do so.FOR TUSCULUM PROPERTY AUCTIONS OFFICE USE ONLY: Identification documentation seen (one from each list)LIST A - Photographic evidence of Identity LIST B - Evidence of Residence Tick Item Ref No Tick Item Ref No Current signed passport Utility bill issued in the last three Current full UK/EU photocard driving months (not mobile phone) licence Recent bank/building society/mortgage/credit card statement Valid identity card (e.g. HM Forces, police warrant/prison officer card, Revenue & Customs tax notification government/local authority issued card) (current tax year) Current house/motor insurance Firearm or shotgun certificate certificate Resident permit issued by the Home Recent council tax bill/council rent book Office to EU Nationals.Signed ......................................................................................................... Date ............................................on behalf of Tusculum Property Auctions 11 www.tusculum.co.uk
    • Acknowledgement of Reservation FormThis acknowledgement confirms receipt from the buyers Buyers Forename: .......................................................of a Reservation Fee equivalent to 4% (subject to a Buyers Surname: .........................................................minimum of £4,000) of the final negotiated sale price.This is payable to Tusculum Property Auctions and does Buyers Date of Birth: ....................................................not form part payment of the purchase consideration. Address of Buyer: ........................................................ ..................................................................................Date of auction: ...................... Lot Number: ................ ..................................................................................Purchase Price: £ ......................................................... ..................................................................................(.................................................................................................................................................Pounds) ........................................................................... Post Code: .................................................................Calculated Buyers Premium: £..................................... Phone Number(s):Address of property: ................................................... Home: ......................................................................................................................................................... Work: .................................................................................................................................................... Mobile: ........................................................................................................................................................................................................................... E-mail: ................................................................ Solicitor: ..............................................................Post Code: .................................................................. For the attention of: ..............................................The Reservation Fee is received on a non-refundable Address: ..............................................................basis and will be forfeited if formal contracts are notexchanged within twenty-eight days of the date hereof. .................................................................................. ..................................................................................Should the seller default for any reason the ReservationFee is refundable to the purchaser. The buyers declare ...........................................................................that the information and conditions contained in theAuction Catalogue are understood and accepted. Post Code: ........................................................... Phone Number: ...................................................Signed: ........................................................................................... Date: .......................................................by the buyer on his/her behalf and on behalf of any principle mentioned aboveSigned: ........................................................................................... Date: .......................................................by Tusculum Property AuctionsPlease sign above to indicate that the above information is correct and your acceptance of these terms and conditions. 12 www.tusculum.co.uk
    • Remote Bidding FormPlease select method of bidding: TELEPHONE PROXYI (name) .....................................................instruct Tusculum Property Auctions to bid on my behalf in accordancewith the full terms and conditions shown in the auction catalogue. I confirm I have read, understood and acceptthese terms and conditions and will be bound by them should my bid be successful and give the Auctioneers theauthority to sign the Memorandum of Sale/Reservation Form on my behalf.Conditional Method - I will pay a non refundable reservation fee of 4% of the final negotiated selling price (subjectto a minimum of £4,000) and will exchange contracts within 28 days.Date of Auction: .................................................................. Lot Number: .........................................................Address of Lot: ..............................................................................................................................................................................................................................................................Post Code: ............................................The Lot is offered for sale under: Conditional MethodMaximum Bid (proxy bidding only) £ ..................................................................................................................(.............................................................................................................................................................Pounds)Buyers Information - Full Name/Company Name: ..............................................................................................Address: ...................................................................................................................................................................................................................................................................... Post Code: ............................................Telephone Numbers:Home: ..................................... Business: ....................................... Mobile: .....................................................E-mail address: .................................................................................................................................................Solicitors Name & Address: .......................................................................................................................................................................................................................................... Post Code: ............................................Telephone Number: ...........................................................................................................................................Signature: .......................................................................... Print Name: ...........................................................by the buyer on his/her behalf and on behalf of any principle mentioned above.Date:........................................Card Details: ............................................................. Card Number: ........................................................... Start Date: .........................Expiry Date: .....................Cardholder Name: ..................................... Issue Number*: ..................Security Code: .................Card Issuer: Visa: Mastercard: Maestro: Switch: Visa Delta: Solo:Credit Card payments are subject to a surcharge of 3% of the total amount payable. American Express is notaccepted. * Switch and Solo Only 13 www.tusculum.co.uk
    • Terms and Conditions for Remote Bidding1. A separate form must be completed for each lot for which a prospective Buyer wishes the Auctioneer to bid.2. The Auctioneer reserves the right not to bid on behalf of the prospective Buyer should there be any error or confusion in respect of these instructions or the accompanying Reservation Fee.3. The completed form or forms must be with Tusulum Property Auctions not less than 48 hours prior to the time of the commencement of the auction at which the particular property is to be sold. It is your responsibility to ensure the form has been received.4. No alteration to any proxy or telephone bidding form will be accepted after it is received by the Auctioneer.5. The prospective Buyer appoints the Auctioneer as agent and authorises the Auctioneer to bid for the relevant lot on behalf of the prospective Buyer in such manner as the Auctioneer thinks fit in his absolute discretion.6. The prospective Buyer shall be considered to have inspected the auction catalogue and the general and separate special conditions of sale and notices to prospective Buyers for the relevant lot and to have full knowledge thereof and authorises the Auctioneer or any duly authorised employee of Tusculum Property Auctions as the prospective Buyers agents to sign the Acknowledgement of Reservation Form.7. The prospective Buyer authorises the Auctioneer or any duly authorised employee of Tusculum Property Auctions to use the card details supplied for payment of the Reservation Fee, being 4% of the sale price (subject to a minimum 0f £4,000), if the prospective Buyer is successful in purchasing the relevant property.8. The prospective Buyer may in writing only, at any time up to the commencement of the auction in which the particular lot is to be sold, withdraw the Auctioneer’s authority to bid. It is the prospective Buyers responsibility to ensure that the Auctioneer personally receives such instructions and he should check to ensure such instructions have been received.9. The amount of the prospective Buyers bid will not be disclosed to the vendor or any other person either during or after the sale without the consent of the prospective Buyer.10. The Auctioneer reserves the right to bid himself or through an agent up to the reserve price for the particular lot.11. Prospective Buyers are advised to telephone Tusculum Property Auctions on the day of the auction to ensure that there are no amendments to the particulars of sale or conditions relating to the relevant lot or other matters relating to it. The prospective Buyer will be deemed to have knowledge of such amendments and will buy subject to them in any event. If the prospective Buyer does not telephone and such amendments have been made, the Auctioneer may in his absolute discretion decide not to bid for the relevant lot on the prospective Buyer’s behalf and the Auctioneers will not be responsible for any loss, costs or damages incurred by the prospective Buyer as a result thereof.12. Should the prospective Buyer wish to bid at the auction in person or though an agent, such intention must be conveyed in writing to Tusculum Property Auctions in person prior to the lot being offered for sale. In this case the Auctioneer will not make any bids on behalf of the prospective Buyer.13. The Auctioneer will make no charge to prospective Buyers for this service and will accept no liability whatsoever for any bid not being made on behalf of the prospective Buyers whether through lack of clarity of instructions or for any other reason whatsoever. The prospective Buyers will be advised if the relevant lot has been successfully purchased on his behalf as soon as possible after the auction.14. Prospective Buyers are advised in respect of telephone bids that should they become disconnected during bidding or are unobtainable, Tusculum Property Auctions will not be held responsible or liable for any loss suffered in respect thereof.15. The Auctioneer will make no charge as to the prospective Buyer for this service, and will accept no liability whatsoever for any bid not being made on behalf of the prospective Buyer for any reason whatsoever. Prospective telephone Buyers will not hold Tusculum Property Auctions liable for any loss or claims relating to the telephone bidding system. 14 www.tusculum.co.uk
    • General Terms and ConditionsConditional auctionWhere properties are sold under the conditional terms and conditions all acceptable bids (or when an offer is accepted pre orpost auction) are deemed to be made in accordance with the following arrangements:1. Where the Auctioneer takes an acceptable offer/bid then subject to these conditions the buyer and seller agree to use their best endeavours to proceed to a formal exchange of legal contracts within 28 days. The time limit will expire at 1700hrs on the 28th day following the date of the auction or acceptance of an offer if sold pre or post auction.2. A non-refundable reservation fee of 4% (subject to a minimum of £4,000) must be paid by the buyer immediately following the conclusion of the auction, or acceptance of an offer. This must be paid by cleared funds to the Auctioneer who will issue an Acknowledgment of Reservation.3. Following the auction and in the 28 day period following the auction or acceptance of the offer (whichever is the later), the seller agrees as follows:a) The seller will immediately instruct solicitors to dispatch the contract and accompanying papers to the buyer’s solicitors and to deal promptly with proposed amendments or variations to the contract and provide answers to enquiries.b) To give access to the property as may be reasonably be required by any surveyor or valuer appointed by the buyer for the purpose of surveying and/or valuing the property.c) No sale contract or details of the title of the property will be sent to anyone other than the buyer’s solicitors.d) Not to give access to any other person to view the property, nor to negotiate or agree with anyone other than the buyer any terms for sale of the property.4. The buyer agrees within two days following the auction or acceptance of offer:a) To instruct a surveyor and/or accept liability for surveyors’ fees by making a mortgage application.b) To instruct solicitors to investigate title to the property, negotiate a draft contract for sale, raise enquiries of the seller and any third parties about the property and do any other work required to enable contracts to be exchanged within the 28 day period.5. It is hereby agreed between the parties as follows:a) The seller has entered into the Agreement because the buyer has given certain commitments as herein mentioned, if the buyer fails to comply with them strictly in accordance with the timetable this Agreement shall immediately lapse.b) If the buyer decides not to proceed with the transaction as negotiated he/she shall immediately inform the Seller whereupon this agreement will lapse. In this event, any Reservation Fee is deemed non refundable.c) If the seller decides not to proceed with the transaction as negotiated, he or she shall immediately inform the buyer whereupon this Agreement will lapse and any Reservation Fee paid by the buyer to the Auctioneer will be reimbursed to the buyer.6. This agreement is an independent contract and does not bind the Seller or the Buyer to the transaction. 15 www.tusculum.co.uk
    • ENTRIES BEING TAKEN NOW FOR OUR NEXT AUCTION WEDNESDAY 2ND MARCH 2011 Tel: 01482 409294 Email: enquiries@tusculum.co.uk Web: www.tusculum.co.uk