A tranquil Gwent canal side cottage offering a slower pace of life sold for more than twice the guide price in a frenzy of bids at Paul Fosh Auctions.
Although placid Lock Cottage, on the Monmouthshire and Brecon canal, needs plenty of TLC this didn’t deter prospective buyers who piled their bids in for the waterside haven
The two bedroom property, with rambling gardens, which was being offered for sale by the Newport auctioneers with a guide price of £75,000-plus, was eventually sold for £158,000.
Sean Roper, of Paul Fosh Auctions, said the quaint and historic cottage, in the Bettws area of Newport, had a magnetic attraction for bidders.
Sean said: “Bids came in as soon as the auction went live and didn’t hold up until the hammer finally fell at an impressive £158,000. In all 155 bids came in from nine individual bidders all looking to secure this unique cottage on the banks of the Monmouthshire and Brecon Canal.
“The cottage was appealing not just because of its location on the canal but for those looking for a secluded retreat, in a rural location, which is not way out in the sticks. The manageable property isn’t far from the city of Newport and the M4.”
“We often find that the more unusual, quirky properties go well at our auctions and this was certainly no exception.”
Sean said Lock Cottage, with entrance, kitchen bathroom and lounge on the ground floor and interconnecting bedrooms above, could also make a very attractive investment for a holiday let or perhaps Airbnb. He said there is also scope, subject to planning, for a builder to construct perhaps a couple of houses on the land which extends to the front side and rear of the cottage.
The cottage, along with some sixty other properties, was offered for r sale at Paul Fosh Auctions February sale. The next Paul Fosh Auctions online sale starts on Tuesday March 8, ending from 5pm on Thursday, March 10.