Auction Catalog

Property Auction

Catalogue

Wednesday 15th December 2010 Holiday Inn, Hull Marina

Starts 3pm

Tel: 01482 409294

Auction Venue

Transportation To and From Hotel:

Humberside Airport (HUM)Distance: 20 miles south of the hotelAfter leaving the airport take the Croxton Roadheading for the A18 at the roundabout take thesigns for the A15 heading towards the HumberBridge, over the bridge and take signs for HullCity Centre.

Leeds/Bradford (LBF)Distance: 70 miles west of the Hotel.Follow signs for the M62 east (Hull), join the A63and head for City Centre.

TrainStation Name: Hull Train StationDistance: 0.1 miles to Hotel.Right at the train station, through 2 sets of trafficlights move into left lane marked for the IceArena, the hotel is first on the left.

Driving DirectionsFrom the M62 join the A63 in to Hull. Left at thejunction signposted for City Centre N/Prospect/StStephens then into right lane (signs for IceArena/Kingston Park). Cross over A63 then intoleft lane and turn into Commercial Road. Take thefirst left (opposite The Whittington & Cat pub) intoHotel's rear car park.

1www.tusculum.co.uk

Holiday Inn, Hull MarinaCastle Street, Hull HU1 2BX

3www.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 Sale Potential 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.

Order of SaleCommencing 3pm

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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+

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2 bed investmentproperty

Essex Street is located tothe west of the City Centreand is close to all amenitiesincluding shops, schoolsand good transport linksinto Hull City Centre andHessle.

No. 78 is a mid-terraced 2bedroom house that hasrecently been fullyrefurbished includingcentral heating, uPVCdouble glazing, newkitchen and bathroom.

It is tenanted on an AST at£350pcm.

Guide price: £40k+

Vacant 2 bed house,ready to move in or tolet

Camden Street is located offAirlie Street, off the Boulevardand has excellent roadconnections to both the citycentre and A63/M62. The areaalso offers convenient access tolocal shops and schools.

No. 5 is a mid-terraced propertycomprising: entrance hall,

through lounge, kitchen and rearyard with 2 bedrooms and abathroom to the first floor.The property benefits from uPVCdouble glazing, gas centralheating and is in a lettablecondition and would rent for c.£375 pcm.

Sold with vacant possession.

*Tusculum Property Auctions have anexisting personal interest in thisproperty.

Guide Price: £40-45k

Vacant 4 bed house, readyto move in or to let

Mayfield Street is located offSpring Bank and is withinwalking distance of the citycentre and St Stephen’sshopping centre and close tolocal shops and amenities onPrinces Avenue.

No. 51 is a mid-terraced 4bedroom, centrally heated

and majority double glazedhouse. The property consistsof entrance hall, separateliving room, kitchen -diner,bathroom and rear lobby.First floor consists of threebedrooms. There is a fourthbedroom on the top floor.The property is in a lettablecondition and would rent forc. £475 pcm.

Sold with vacant possession.Guide Price: £55k+

LOT 1 - 78 Essex Street, Hull, HU4 6PR

LOT 2* - 5 Camden Street, Hull, HU3 3JB

LOT 3 - 51 Mayfield Street, Hull, HU3 1NT

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Mixed use investmentproperty

This property is situated in aprominent position on the cornerof Southcoates Lane andNewcomen Street and is close tothe junction of Holderness Road.

The property comprises aretail/office unit to the groundfloor with 4 consulting rooms, anopen plan office, staff kitchenfacilities and two toilets.

There is also a garage to therear.

To the first floor is a 2 bedroomflat (25a) and this is currentlylet, along with the garage, onan AST with combined income of£309.83 pcm.

Ground Floor Retail/Office unitis currently vacant and is beingmarketed at a rent of £7,500p.a.


Mixed use investmentproperty

542 Hessle Road is well situatedon the corner of Hessle Roadand Brighton Street on one ofthe main arterial routes into thecity.

It consists of a retail unit on theground floor that is currently letto CASE Training Services (localcharity) on a 2 year lease for£4,160 p.a. There is an

advertising hoarding on thegable end and this is let to JCDecaux for £700p.a.

There are two one bed flats tothe first floor and both arecurrently let on ASTs at £303.33pcm each.

Total Income per Annum:£12,140.


1 bed flat requiringminor refurbishment

The Boulevard runsbetween Anlaby Road andHessle Road with excellentroad connections givingaccess to the City Centreand the A63/M62. Thearea also offers convenientaccess to local shops andschools.

Flat 4 is a first floor 1 bedflat and it requires someminor refurbishment andsubject to this the rentalvalue would be c. £300pcm.

Sold with vacantpossession


LOT 4 - 23-25 (including 25a) Southcoates Lane, Hull, HU9 3AY

LOT 5 - 542 Hessle Road, Hull, HU3 5BQ

LOT 6A - Flat 4, 163 Boulevard, Hull, HU3 3EJ

1 bed flat

The Boulevard runsbetween Anlaby Road andHessle Road with excellentroad connections givingaccess to the City Centreand the A63/M62. Thearea also offers convenientaccess to local shops andschools.

Flat 5 is a second floor 1bed flat and is in lettablecondition and the expectedrental value would be c. £300 pcm.

Sold with vacantpossession


Tenanted 1 bed flat

Situated off Marfleet Laneand close to HoldernessRoad offering excellentaccess to the City Centreand a wide range of localamenities.

The block consists of thirtyleasehold apartments intotal and is in goodgeneral order.

The flat benefits fromdouble glazing and electricheating; internally there isa good sized living space,double bedroom, fittedkitchen and bathroom.There is one allocatedparking space.

Tenanted on an AST at£303.33 pcm.

Guide Price £25-30k

Vacant 2 bed house –fully refurbished

Lorraine Street is situatedto the east of the CityCentre close to a localprimary school and withgood road access to themain arterial routes.

No.25 is an end-terraced 2bedroom house with first

floor bathroom. Theproperty has recently beenfully refurbished includingcentral heating, uPVCdouble glazing, newkitchen and bathroom. Therental value is c. £370pcm.

Sold with vacantpossession.

Guide Price: £40k +

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LOT 6B - Flat 5, 163 Boulevard, Hull, HU3 3EJ

LOT 7 - 37 Regis Court, Hull, HU9 4TW

LOT 8 - 25 Lorraine Street, Hull, HU8 8EG

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Mixed use investment propertywith scope to add value

This property is within walkingdistance of the City Centre and StStephen’s shopping centre, withprimary bus routes along the wholeof Spring Bank.

The ground floor is a self containedretail unit currently let as a café at£6,000 p.a.

The residential accommodation isaccessed via a rear entrance.

The accommodation comprises abedsit and 2 one bedroom flats.The accommodation is currentlyvacant and requires refurbishmentthroughout. It has the potential to beconverted into 2 spacious onebedroom flats with separateentrances.

The whole property could achieve arental income of c.£14,000 p.a.after refurbishment.


Tenanted 3 bed house

Southcoates Lane is locatedhandily nearby to HoldernessRoad amenities and busroutes with leisure facilitiesavailable at East Park and theWoodford Leisure Centre.

No. 486 is a semi-detachedhouse comprising:

Ground floor: Entrance hall,living room, dining room,bathroom, kitchen.Master bedroom with ensuite, 2 further bedrooms.

Front garden, rear gardenwith vehicle access.

Tenanted on an AST at£500pcm

Guide price: £95-105k

Tenanted 2 bed house

Cadogan Street is located offGordon Street, off theBoulevard and has excellentroad connections to both theCity Centre and A63/M62.

The area also offersconvenient access to localshops, schools and is withinwalking distance of Hull RoyalInfirmary.

No. 31 is an end-terraced 2bedroom property thatbenefits from uPVC doubleglazing, and gas centralheating.

Tenanted on an AST at£303.33pcm.


LOT 9 - 188 Spring Bank, Hull, HU3 1PG

LOT 10 - 486 Southcoates Lane, Hull, HU9 3UB

LOT 11 - 31 Cadogan Street, Hull, HU3 3HP

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Vacant 2 bed house requiringrefurbishment

Franklin Street is located to theeast of the City Centre offHolderness Road. This areabenefits from a wide range ofshops and schools whilst alsobeing less than half a mile fromthe city centre.

No. 5 Somerset Avenue is at theeastern end of Franklin Streetand is an end terrace house

comprising: Entrance hall, livingroom, kitchen with 2 bedroomsand bathroom to the first floor.

The property requiresrefurbishment, however doesbenefit from gas central heatingand is partially double glazed.

Sold with vacant possession

Guide Price: £32k +

LOT 12 - 5 Somerset Avenue, Franklin Street, Hull, HU9 1JD

END OF SALE

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We can arrange funding on ALL types of property including:

Buy-to-Let, Shops, Offices, HMO’s,Pubs, Land, Developments, and Non-standard construction houses and flats.

Please call us now to discuss your specific requirements.

DMI Finance,PO Box 3257, Chippenham, SN15 9DHTel: 01249 652 939Fax: 01249 655 788E-mail: [email protected]

Tel: 01249 652 939

11www.tusculum.co.uk

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

Signed ......................................................................................................... Date ............................................on behalf of Tusculum Property Auctions

Tick Item Ref No

Current signed passportCurrent full UK/EU photocard drivinglicence

Valid identity card (e.g. HM Forces,police warrant/prison officer card,government/local authority issued card)

Firearm or shotgun certificate

Resident permit issued by the HomeOffice to EU Nationals.

Tick Item Ref No

Utility bill issued in the last three months (not mobile phone)Recent bank/buildingsociety/mortgage/credit card statement

Revenue & Customs tax notification(current tax year)

Current house/motor insurancecertificate

Recent council tax bill/council rent book


Acknowledgement of Reservation Form

This acknowledgement confirms receipt from the buyersof a Reservation Fee equivalent to 4% (subject to aminimum of £4,000) of the final negotiated sale price.This is payable to Tusculum Property Auctions and doesnot form part payment of the purchase consideration.

Date of auction: ...................... Lot Number: ................

Purchase Price: £ .........................................................

(.................................................................................

................................................................Pounds)

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

Address of property: ...................................................

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

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

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

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

Post Code: ..................................................................

The Reservation Fee is received on a non-refundablebasis 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 declarethat the information and conditions contained in theAuction Catalogue are understood and accepted.

Buyers Forename: .......................................................

Buyers Surname: .........................................................

Buyers Date of Birth: ....................................................

Address of Buyer: ........................................................

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

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

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

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

Post Code: .................................................................

Phone Number(s):

Home: .......................................................................

Work: ..................................................................

Mobile: ...............................................................

E-mail: ................................................................

Solicitor: ..............................................................

For the attention of: ..............................................

Address: ..............................................................

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

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

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

Post Code: ...........................................................

Phone Number: ...................................................

Signed: ........................................................................................... Date: .......................................................

by the buyer on his/her behalf and on behalf of any principle mentioned above

Signed: ........................................................................................... Date: .......................................................

by Tusculum Property Auctions

Please sign above to indicate that the above information is correct and your acceptance of these terms and conditions.

Remote Bidding FormPlease select method of bidding: TELEPHONE PROXY

I (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 Method

Maximum 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: .............................................................

Cardholder Name: .....................................

Card Issuer: Visa: Mastercard: Maestro:

Switch: Visa Delta: Solo:

Card Number: ...........................................................

Start Date: .........................Expiry Date: .....................

Issue Number*: ..................Security Code: .................

Credit Card payments are subject to a surcharge of 3% of the total amount payable. American Express is notaccepted. * Switch and Solo Only


Terms and Conditions for Remote Bidding

1. 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.


General Terms and ConditionsConditional auction

Where 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 thebuyer.

6. This agreement is an independent contract and does not bind the Seller or the Buyer to the transaction.

Tel: 01482 409294Email: [email protected]

Web: www.tusculum.co.uk

ENTRIES BEING TAKEN NOWFOR OUR NEXT AUCTION

WEDNESDAY 2ND MARCH 2011

Auction Catalog

Documents

Transcript of Auction Catalog