THREE cottages in a remote village could be snapped up for just £100 at auction.
The run down buildings in Caerphilly, South Wales, represent the perfect challenge for keen fixer-uppers.
3
3
The cottages known as the Wesley Buildings have a £0 reserve price together and all three can be bought for the minimum starting bid of £100 at auction.
The former miners’ cottages have been penetrated by vegetation and require a lot of work before they are habitable.
Gemma Vaughan, of Newport-based Paul Fosh Auctions, said: “Wesley Buildings offers the opportunity to acquire structures which, we’re told, were originally a terrace of three small cottages.
“The site has a very interesting history. The vendor, a carpenter, advised me that he bought the cottages back in 1979 when he arrived back from Saudi Arabia.
“He bought the property, his old family home, when he saw that it was up for sale. His great grandfather and mother were born there. His great grandfather worked in the long closed tin mine in Machen.
“The cottages are now in an extremely dilapidated condition but could well present a blank canvas to a developer, subject to planning and the removal of a vast amount of undergrowth.
“The cottages are in such a state of dereliction that they have not been internally inspected.
“This property most certainly presents a challenge but listed with a £nil reserve what it means is that a single minimum opening bid of just £100 could secure the lot-as long as there are no other bidders.
Most read in Money
“These cottages will be sold for whatever bidders want to pay with the highest bid, whatever that is, winning the lot.”
Ms Vaughan explained that they properties represented a major challenge for even the most ambitious of fixer uppers.
She added: “However they are in an awesome location in desirable and sought after location of Machen, a large village three miles east of Caerphilly and just up the road from Newport.
“They are situated in the Caerphilly Borough within the historic boundaries of old Monmouthshire. It neighbours Bedwas and Trethomas, and forms a council ward in conjunction with these communities.
“Lying on the Rhymney river the neighbouring, towering presence of Mynydd Machen (Machen Mountain) provides a view over the village.
As the cottages are in a derelict condition we haven’t made an internal inspection.”
The cottages, along with some ninety other properties, will be sold online at the next Paul Fosh Auctions sale which starts from 12 noon on Tuesday, August 29 and ends from 5pm on Thursday, August 31.
Locals living in one of the UK’s cheapest housing market areas boast their affordable prices – but claim there’s a huge downside.
County Durham is blessed with low mortgage rates – but plagued with rowdy revellers and drug users, according to frustrated homeowners.
Buying a house can be a costly affair, but we’ve found seven homes on the coast where you’ll just need a £7,500 deposit or less to buy.
Increased mortgage rates have seen many hold off from buying a home in recent months, prompting prices to drop.
3
