Reference
Z1515/1/11/19/1
Title
Agreement
Date free text
26 May 1972
Production date
From: 1972 To: 1972
Scope and Content
Parties:
(i) Luton Electrical Supplies Centre Limited of 33 Collingdon Street
(ii) G.F. Farr & Sons Limited of 33 Collingdon Street
(iii) Sterling Discount Stores Limited of 20 Bridge Street, Leighton Buzzard
(iv) David Towse of Leighton Buzzard, Rex Callis of Cranfield, Peter Rolt of Houghton Regis, Dennis Phillips of Pitstone, directors
Reciting:
(i) carries on business of retailing domestic electrical appliances and is possessed of stock in trade etc
(ii) has agreed with (iii) and (iv) for the purchase of the warehouse known as 22 Liverpool Road
(iii) carries on a similar business to that of (i) and desires to acquire certain assets and take a lease of the premises
Operative Part:
(i) agrees to convey to (iii) all the stock in trade (following a valuation), goodwill of business (£7000), fixtures and fittings (£1960) and the delivery van used in connection with the business (£490)
Property: as above and with fittings and fixtures listed in the schedule
Habendum:
£1750 to be paid in cash on the date fixed for completion and the balance divided into three equal instalments payable in January, September and May next at interest of 5%
(ii) to execute to (iii) a lease for 22 Liverpool Road for 21 years at annual rent of £5,500 per annum
(i) to release employees from 1 June but will endeavour to secure their service for (iii) and (iii) to offer in writing to renew their contracts
(ii) to grant a license to (iii) for provision of 15 car parking spaces on completion of the lease
Covenant:
(i) and (ii) not to stock or sell in any retail outlet radios, televisions or domestic electrical appliances in Luton and Bedfordshire for a period of two years
No advertisements to be affixed to the exterior of the property without consent of landlord
Level of description
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