Regression - Channel creation wizard renders "blank screen" for "channel properties"

1. Check out 1.05.07 tag, build and start
2. Login to CMS and navigate to Channel Manager >> click Add Channel
3. In the wizard select Subsite and click next button

Expected - Channel properties where user can fill details should be shown
Actual - Empty blank screen is shown (refer attachment)

No error message or exception is shown in terminal.