A three bedroom house in Middlesbrough that went on the market for just £1 has been sold for nearly 20,000 times the original price.
The house in South Terrace, Middlesbrough, has an uninviting exterior, with smashed in windows and a garden filled with junk and weeds, but it sold this week at auction for £19,125.
It was billed by Agents Property Auction as “in need of a full refurbishment and modernisation,” but that once it had been seen to it “should generate income in the region of £4,440 per annum”.
The property agents expected the house to appeal to a property developer and buy-to-let investor, despite the house currently appearing in a state of disrepair, with missing floorboards and ripped up carpets, peeling walls and ripped-out, broken furniture strewn throughout the interior.
The auction took place at the Marriot Hotel, Gosforth Park, Newcastle, and the house was eventually sold to an unnamed telephone bidder, Gazette Live reported.Reuse content