You can buy this one-bedroom flat for just £1…but there's a good reason it's this cheap

You can buy this one-bedroom flat for just £1…but there's a good reason it's this cheap

HOUSE prices are rising but this flat is one of the cheapest ever – it’s up for sale for just a QUID.

The property, near Wavertree Botanical Gardens, Liverpool is being put up for auction by an online property company who are hoping bids come in much higher.

However there is a catch – the one-bedroom flat needs an estimated £8,000 worth of renovations, according to the Liverpool Echo.

The property, which has a separate kitchen, bathroom and a small lounge, is described by House Buy Fast as “needing modernisation but ideal for a first time buyer”.

A description reads: “A purpose built ground floor apartment with communal gardens and off road parking.

“The property location offers easy access to local amenities, local schools and recreational facilities.

"Easy access to public transport links to surrounding areas and Liverpool city centre, Royal Liverpool University Hospital and surrounding universities.”

While the flat is basic, it does come with some facilities.

The kitchen has a range of wall and base units, plumbing for a washing machine, a gas cooker point and gas fired boiler, while the bathroom has a toilet, sink and bath.

Buying the apartment also comes with access to communal gardens and off-road parking.

Jeff Djevdet, Director of House Buy Fast – the company which owns the property – said: “We’ve put the house up for auction as it needs some TLC.

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The one-bedroom flat is on Crosfield CloseCredit: RightMove

"I also hope that the low starting price could help a first- time buyer onto the property ladder.

“It's impossible to tell what it’s going to sell for on the day! Four thousand? Five thousand? Who knows?

“What better way to find out how much a property is worth than setting a starting price of £1?”

The flat will go to auction with SDL Graham Penny Auctions on Saturday, November 24 at Leicester’s King Power Stadium at 11:30am.

Last month a shocking survey revealed that the average house price was now SIX times the average wage.

 

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