BARGAIN hunters rejoice, two three bedroom houses are up for sale for the incredibly low price of just £1 – the catch? They both need to be completely renovated.
The terraced houses located in Bishop Auckland and Lundworth, less than half an hour from the historic city of Durham, require full refurbishment – including a new kitchen and bathroom.
The properties are offered by Bond Wolfe Auctions and will be auctioned on September 10 with a £1 guide price.
One house currently has no bathroom or kitchen, but anyone taking on the project will have lots of leftover cash to spend considering the minuscule price tag.
Bonde Wolfe Auctions website’s description of the Lundworth house notes that the property was “subject to fire damage”.
The website reads: “At the time of going to print, the Auctioneers were unable to inspect the property internally and therefore the accommodation details should not be relied upon.”
Those wishing to see the kitchen and bathroom-less Bishop Auckland property should note it is subject to “external viewings only”.
But chief executive of Bond Wolfe Auctions, Gurpreet Bassis describes the property as “a classic fixer upper and perfect for someone who is looking for a project.”
A ready-to-move-in 3 bed terrace in that area would set you back between £30, 000 to £100,000.
And a similar property in London would set you back a whopping £3.5m.
The Bishop Auckland house was last sold for £60,000 in July 2009 with another property on the same street going for £13,000 in 2016.
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Gurpreet Bassis noted one of the properties “is in poor condition.”
He added: “It really is a blank canvas. The kitchen and bathroom both come with no fittings and the Energy Performance Rating of G offers scope for improvement!”
Property handlers have chosen to go to auction in order to guarantee a quick sale.
The houses will be auctioned at 10.30 am in the Holte Suite at Aston Villa Football Club in Birmingham.
One of the £1 properties has fire damage and another is currently not fitted with a bathroom or a kitchen[/caption]
The £1 guide price means you’ll have leftover cash for much-needed renovations[/caption]
A similar 3 bed terrace in London will set you back an eye-watering £3.5m[/caption]
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