A south Wales valley, mid terraced three bedroom house is on the market with Paul Fosh Auctions at an astonishing reserve price of just £1.
The tidy looking property requires some upgrading but with new UPVC double glazed windows and gas central heating the house appears to be a real steal.
Listed as being situated in a side street popular with homeowners and investors 10 Francis Street in the former south Wales Rhondda Valley mining village of Tonypandy is arguably the cheapest house for sale anywhere in the UK.
Requiring some renovation the freehold property which until recently was let at £425 a month has a downstairs bathroom and a back garden with rear lane access.
Paul Fosh, Managing Director of Newport-based Paul Fosh Auctions, who is selling the property said: “People looking at our catalogue may well think that the £1 reserve is a typo but it’s not. If someone bids £1 and there are no others bidding then the property is theirs. The property, which seems all up together, at this price, could well be a shrewd investment for renovation and buy to let.
“The property, which is being sold with vacant possession, has already benefited from some renovation and now requires further modernisation and finishing works. It is situated in a well established residential location in the town of Tonypandy which has easy access to a range of amenities and good transport links including a train station.
“We’re expecting to have a lot of interest in the property which, with a reserve price of just £1, must be the cheapest house currently on the market anywhere in Britain.
“Perhaps it could make the ideal Christmas present for that difficult to buy for someone?”
“We’ve set the reserve price on instruction from the vendor who just wants a quick sale. Ultimately it’ll be the auction floor and those that attend the sale or put in bids over the telephone who’ll decide what this property is worth, taking everything, including renovation costs into consideration.”