A DOER-upper called Love Cottage is on sale for a bargain price – but is hiding a grim secret.
The two-bed home – which boasts picturesque river views – is listed with a starting price of just £1 as it goes up for auction, though needs a lot of work.
The exterior and garden area at Love Cottage is completely overgrown[/caption]
The view of Pembroke Dock from the property is picturesque[/caption]
The interior also needs plenty of TLC[/caption]
The property in Pembroke Dock, Pembrokeshire, requires a total revamp – but could be the perfect love nest.
It could work as a holiday let, long-term rental or renovation project for a keen developer.
Sean Roper, of Paul Fosh Auctions, said: “The mid-terraced property has certainly seen much better days.
“But there is plenty of scope presented by what is there and added to that the property has a very large garden which could also be exploited and an auction guide price of just £1!”
He went on to say the expansive garden extends down the rear of Meyrick Street, offering “a number of development opportunities” subject to planning permission.
“The first could be to renovate and refurbish to a high standard for holiday lets due to its proximity to many of Pembrokeshire top tourist areas,” said Mr Roper.
“Typically, a refurbished two-bedroom cottage would generate in the region of 28k per annum net as a holiday let.
“A second option could be to renovate and refurbish to a high standard as a long term let.”
Mr Roper said demand could be high for a refurbished property like this is marketed to young professionals and local workers – with the potential for £900pcm in rent.
Another option would be to do it up and sell it for up to an estimated £185,000 or sell the garden space.
“Parcels of land could be sold to individual houses along Meyrick Street and then retain the house with a portion of the remaining garden space,” explained Mr Roper.
The cottage sits close to the main shopping area of Pembroke Dock, with good links to the A40, while there is also a nearby rail station and the A477 provides access to the heart of Milford Haven Centre.
Bwthyn Cariad is one of some 80 plus lots which will be sold online at Paul Fosh Auctions which starts at midday on June 24 and ends from 5pm on June 26.
Nine British beauty spots where you can buy your dream home for 30% less than the asking price
By Sam Walker
BUYERS in nine areas around the UK could get their dream home for hundreds of thousands of pounds cheaper than the asking price.
New data has revealed the British beauty spots where average property sales prices are much lower than average listing prices.
House prices have surged across the UK to reach record highs in recent months with affordability still a major challenge for many buyers.
But those looking to purchase in nine postcodes can bag some major bargains, according to data from house buying company Upstix.
In Salcombe and Lincombe, Devon, buyers can shave 14.69% off the average listed price of a property.
The average price of homes there is £842,271, but the average actual sale price is £718,514 – a £123,757 difference.
In North Sunderland in the north east of England, and the county of Cumbria, buyers face paying £317,612 for a typical property, despite the average listed price being £450,995 – a 29.58% or £133,383 difference.
Meanwhile, in Ellesmere and Cockshutt in the West Midlands, the average listed price of homes is £372,531.
However, the average sales price in the same areas is £297,477 – a 20.15% or £75,054 bargain.
Unsurprisingly, buyers in London could save the most in cash terms when looking at house sales prices versus listed prices.
Properties in the capital city list for an average of £1,503,674, but sell for £1,303,664 – a more than £200,000 gap and 13.30% drop off.
The data from Upstix also reveals that buyers face vast disparities between listed prices and actual house prices across postcodes in the East of England, East Midlands and South East England.
Buyers in places such as Woodbridge and Rendlesham in Suffolk could bag up to 16.29% off on house prices in these spots, saving potentially £80,261.
In postcodes covering Oakham and Cottesmore in the East Midlands savings of 12.72% can be made, while in the south east Mayfield and Five Ashes in East Sussex buyers can grab an 11.40% saving.
The derelict cottage could be flipped and sold for a profit[/caption]
It’s been left to go to ruin[/caption]
But with a guide price of just £1 – it could be worth it[/caption]
It could also be rented out to young professionals[/caption]
