EMAIL From: Mike Chitty, To: Nigel R Bone
Sent: Wednesday, June 08, 2005 8:56 AM
(CONTINUED)

Residents are also very disappointed that Messrs Kersh have been offering various pieces of land on the open market which are really of no use to anyone other than the immediate neighbours - and are the subject of severe planning constraints owing to the Garden Suburb's Conservation Area status. These people, even if they do not have documentary evidence of title, may have acquired an interest through cultivating the land for many years - and at the very least have a legal right of way over some of the 'strips' referred to in your catalogue. They also wonder on what basis the published 'guide prices' have been calculated.

Any light you could throw on this matter will be much appreciated. I would particularly like to know:

1. Who exactly are Merchant Estate Ltd?

2. How did they come to acquire the land concerned?

3. What steps have they taken to establish the extent of their ownership in terms of leases, etc.?

4. What is the relationship between yourself, Merchant Estate Ltd and Kersh Auctions?

5. Who was responsible for setting the 'guide prices' published in the catalogues for the Kersh auctions held in Liverpool on 6th April and 1st June 2005?

6. On what basis were these 'guide prices' determined?

7. What would be the fair market price of a piece of land subject to a 999-year lease (905 years unexpired) yielding a fixed £8 per annum to the freeholder?

8. Is it true that you are quoting £500 legal costs for the transfer of a freehold, on top of the price of the land?

9. What is meant by 'legal costs' in this context?

10. What would be the legal situation if, having purchased a piece of land at one of the Kersh auctions - described as 'not subject to a lease' - a householder discovers that, in fact, they already owned a 999-year lease on that land?

I look forward to hearing from you.

Yours sincerely,

Mike Chitty

(Newsletter Editor & Local History Secretary, The Wavertree Society)