TWO houses in Teeside set to go under the hammer up next week could both be yours for just £1.
The homes, both near central Stockton, require so much work they have been given guide prices of £1 and zero.
34 Victoria Road is one of two properties set to be auctioned at rock bottom prices[/caption]
The auctioneers selling the properties said they could be the UK’s best bargains of 2019.[/caption]
Despite rock bottom prices, the houses are both said to have bags of potential, and are expected to be the subjects of fierce competition.
The first, 40 Dundas Street, is a two-bedroom mid-terrace house in Stockton town centre.
It has a guide price of nil, though a nearby property sold for £36,750 in July 2017.
The second bargain lot, 34 Victoria Road in Thornaby, is another two-bedroom mid-terrace.
The house is currently boarded up, with only external viewings available.
It comes with a guide price of just £1, though a nearby house sold for £35,000 in September 2018.
In December 2017, Stoke-on-Trent Council put two derelict terraced houses in the suburb of Bentilee on sale for just £1.
The move was part of a bid to regenerate the area.
In July, we reported on the Hilton-Phillips’, a young family in Liverpool who brought their home under a similar scheme and saw its value rise to £125,000 in just 12 months.
‘BARGAIN OF THE YEAR’
Both Stockton properties will go on sale at Bond Wolfe Auctions in Birmingham on Tuesday September 10.
Chief executive Gurpreet Bassi said: “It’s rare to start auction lots with guide prices of nil and £1, and these lots are likely to attract strong interest from potential buyers.
“Each property obviously needs investment to return them into decent homes, but for the right investors these could provide two of the best bargains available across the UK in 2019.”
The Stockton properties are just two of the 140 lots going under the hammer in the 10.30am sale at the Holte Suite at Aston Villa FC.
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While the guide prices are low, prospective owners would still have to pay the standard auction administration fee of £1,074, including VAT, for each property.
Anyone interested in the auction should contact [email protected] or call 0121 312 1212.
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