Sun. May 22nd, 2022

Isle of Wight Observer News

The Island's Free Newspaper

Land in Sandown selling at auction

1 min read

Charles Darrow Auctions is selling a section of land in Sandown located in and around the areas of Sandham Close, Perowne Way, Stower Place and Halford Close, some of which may have development potential.

Charles Darrow Auctions have sold over similar 100 plots on behalf of Davis Estates, a company that built houses in the UK up until 1980s. Some of them have reached sale prices of more than £150,000, where the guide price was £10,000. The extra value comes where there is potential for a building plot, a house or garden extension, or additional parking. The land was inherited by a family who only recently found out they owned it.

Director of Charles Durrow, Paul Heather, said: “These sales are often of concern to local residents, but in reality it does not affect the roads, pavements or access to their properties, as for the most part the roads have been adopted by the Highways Agency who maintain them and are protected under the Highways Act. In most cases, highways own the road surface, but not the subsoil below which forms the part of freehold title of what is being sold.”

The land in Sandown extends to approximately 5.06 acres including highways, paths and verges. It will be up for auction on Thursday, March 17, at a guide price of £5,000.

You can view the auction details at bit.ly/3hBfMPW.