LOT number 18

Brief description of the lot
102-104 High Street, Gillingham, Kent ME7 1AX
Name and address of the seller
Kaushik Shah and Anjana Shah c/o: Deekay Management Limited, Kimberley House, 31 Burnt Oak Broadway, Edgware, Middlesex HA8 5LD
Name, address and reference of the seller’s conveyancer
DKLM LLP, City House, 3 Cranwood Street, London EC1V 9PE, DX: 36601 Finsbury ref: KM LM SHA 17748
Title
Freehold
Registered or unregistered?
Registered at Tunbridge Wells Office with title absolute under Title Number K264087
Title guarantee
Full title guarantee subject to condition G4.3 and the Special Conditions of Sale.
Deposit
10% of the price to be paid to the auctioneer and held by the Sellers Conveyancer as agent for the Seller.(unless VAT becomes payable in which case the Deposit shall be held as stakeholders)
Interest rate
5% over National Westminster Bank Plc base rate from time to time with a minimum of 12%
Agreed completion date
8th July 2010
VAT
VAT is applicable and the sale is intended to be a transfer of a going concern to which condition G15 applies.
Insurance
The seller is to insure and any refund of insurance payments is to be made to the tenants
Rights sold with the lot
None
Exclusions from the sale
None save for Tenants fixtures and fittings.
Reservations to the seller
None.
What the sale is subject to
(See General Condition G1)
Plus:
1.  The matters set out in the General Conditions and in these Special Conditions.
2.  The Enquiries before Contract and Tenancy Enquiries.
3.  The Tenancy listed in the Tenancy Schedule.
4.  All claims (if any) by the Tenants of the lot by statute or otherwise.
Amendments to the general conditions
The following GENERAL CONDITIONS of the same number shall be amended as follows:
G 1.6 – delete the word “learns” and substitute “is notified”
G 4.2 (b) – shall not apply
G 15.4 (c) – shall be deleted and replaced with the following “that the VAT OPTION has been notified in writing to and received by HM Revenue & Customs either by way of supplying a certified copy of a valid VAT registration certificate and a true copy of a letter from HM Revenue & Customs acknowledging receipt of the VAT OPTION or other evidence acceptable to the SELLER”
G. 22 shall not apply
Extra special conditions
1. No representation or warranty is given by the SELLER as to whether any derivative interest has been granted out of the TENANCIES and the BUYER shall be deemed to purchase with full knowledge of any that exist.
2. If COMPLETION does not take place on the AGREED COMPLETION DATE due to the default of the BUYER the BUYER shall pay to the SELLER on demand all reasonable costs and expenses property incurred in connection with the preparation and service of any notice to complete and the recalculation of any apportionments in the sum of £200 plus Value Added Tax.
3. The BUYER will prior to COMPLETION (and as a condition thereof) supply to the SELLER the BUYER’S tax reference number for the purpose of making an election under section 198 of the Capital Allowances Act 2001 (“Section 198 Election”) and if required by the SELLER on COMPLETION the SELLER and the BUYER shall jointly make a Section 198 Election in the form to be supplied by the SELLER to the BUYER apportioning the amount of £1 or £2 (as the SELLER’S directs) to such items of plant and machinery as the SELLER shall specify and each shall submit such Section 198 Election to HM Revenue & Customs for the purposes of their respective capital allowance computations.
4. No representation or warranty is made or given by the SELLER as to the environmental condition of the Lot and it is agreed that the BUYER has been given the opportunity to carry out investigations and the BUYER admits that the PRICE takes into account the environmental condition of the LOT. The BUYER agrees to indemnify the SELLER in respect of all liability for or resulting from the environmental condition of the LOT.
5. The BUYER shall not raise any objection or requisition and may not refused to complete on the AGREED COMPLETION DATE on the basis that the SELLER is unable to produce or locate the originals of any document included within the TENANCY SCHEDULE or in the auction pack generally and for the avoidance of doubt if there is any conflict between this condition and any of the GENERAL CONDITIONS then this condition shall prevail.
6. If as a result of an act or omission of the BUYER or a change in the law VAT becomes payable on the PRICE then the PRICE shall be deemed to the exclusive of VAT and the BUYER shall pay such VAT on production of a valid VAT invoice.
7. The SELLER has applied for Local Authority Search and the BUYER shall on completion reimburse the Seller in addition to the price cost of the Search and any other searches supplied by the Seller.
Transfer
The prescribed form of transfer is annexed
Capital allowances
Extra Special Condition 3 shall apply.
TUPE
There are no employees to which TUPE applies.
Environmental
Condition G 21 does not apply and extra Special Condition 4 shall apply.
Warranties
There are no available warranties.
Maintenance agreements
There are no maintenance agreements.

Tenancy schedule

The lot is sold subject to and with the benefit of the tenancies listed below:

Property / Date / Original landlord and tenant / Current tenant / Term / Current rent
102-104 High Street, Gillingham, Kent / 21/12/2007 / (1) Barclays Bank Plc
(2) Sportswift Limited (trading as Card Factory) / Sportswift Limited (trading as Card Factory) / 15 years commencing 5th October 2007 / £37,500.00 per annum