Masters Lane

A fantastic development opportunity! Being sold via Modern Method of Auction, these two detached properties with the land to the rear occupy a substantial twin plot extending to approximately 972 sq meters / 0.24 acres which are being sold as one deal. Number 52 is in need of modernisation, number 50 has several structural issues and there is a large plot of land to the rear of the houses which offers huge potential subject to planning, number 50 may need to be taken down to allow room for development to the rear. The site stands in a popular and established residential area with all local amenities close by and excellent transport links via nearby Rowley Regis railway station and M5.



Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.


Approach
The properties have a block paved driveway to the front with planted areas. Gates to the rear give access to the land which is currently part divided between the two plots.

Accommodation For Number 52
There is a hallway with stairs to the first floor, two reception rooms, conservatory, kitchen and downstairs w.c, three bedrooms and bathroom. In need of modernisation and updating throughout.

Accommodation For Number 50
Lobby with storage, two reception rooms, hallway, two bedrooms and bathroom.

Land To The Rear
A substantial twin plot extending to approximately 972 sq meters / 0.24 acres currently partically split at the boundaries between the two houses. See plan for approximate boundaries.

Viewings
We have keys for the two houses, veiwings at number 50 will be at the viewers own risk due to flooring issues

Land Potential
Number 50 may need to be demolished which will give better access to the land at the rear offering plenty of potential 'subject to the usual planning applications'

Unregistered Titles
It is our understanding that the Properties are not registered at the Land Registry which is the case with a significant proportion of land across England and Wales. Your conveyancer will take the necessary steps and advise you as to time-frames for registration.

Epc Ratings
The Current EPC rating for number 52 is F
The Current EPC rating for number 50 is G

Utilities
Utilities have been disconnected to number 50