Don't understand this property listing!

[securespark]

If you win the auction bidding, do you become the freeholder for the land?
Including the roadways?
I live near here, but thought the roadways were council-owned.

https://www.rightmove.co.uk/commercial-property-for-sale/property-79008478.html

 

[motorbiking]

The houses will likely have easements over the land. It looks like the developer is selling off the road perhaps because the council can’t adopt. Opportunity to fleece resident on the maintenance.

 

[bernardgreen]

Full description Tenure: Freehold Guide Price = £1,000+

It cannot have much if any development prospects if the guide price is only £1000

If you look at the area on google maps there does not appear to be any land where a house could be built. The lot appears to be just the roads in the estate and strips of land at the sides of the roads.

As motorbiking has said this sale is probably due to "complications" over the rights of access to the houses on the estate. There may be ransom strips between roads and driveways and the seller wants rid of the problems they can cause.

Read the legal pack for the lot. ( Down load from the actioneers ) It may explain why the existing owner wished to ( or maybe has to ) sell the land alongside the roads ( and hence the roads as well.

The map is misleading, the only vehicular access to the estate is from Linney Road. There is pedestrian only access to and from Tenement Lane. This single access route may be involved in the reason for selling.

 

[^woody^]

Buy it and put a toll booth on the entrance.

 

[securespark]

Been on the auction website. They want people to sign up to view the legal pack. Maybe I'll do it later.

 

[johnny2007]

Most likely the residents are looking at buying this and share the freehold.
I wouldn't like to get in their way.

 

[mattylad]

If the residents know about it.
They should be informed if not, clubbing together to purchase the road may be in their favor.

 

[algas]

May just be blackmail plots.

 

[Hugh Jaleak]

Roads and sewers have to be built to an 'adoptable standard', then usually the developer pays the Local Authority/Water Company a fee, and both then take on responsibility for the roads and sewers. If it hasn't happened, then the roads remain the responsibility of the developer, if they've since gone bust, then I suppose any interested third party could buy them from the receiver and hold the residents to ransom!

Currently have issues near me with 2 developments, whereby the Council gave planning permission for the developments with clauses that the roads must be made up to adoptable standard before the houses are sold, the developer has done a bunk with the money, and left the roads in a very poor state. Now the residents are kicking up wanting the Council to sort the roads out properly and adopt them, meanwhile various parties are demanding to know why the Council has let the developer pocket the cash and clear off without finishing the site as per permission. Still looks pretty much like this I think. https://goo.gl/maps/k6fKVQ331yrJqALv5