This house is on the market for the price of a bag of crisps
This house is on the market for the price of a bag of crisps
It has an auction guide price of just £1 but what is waiting for you at Love Cottage
Rundown house or a bag of crisps?
(Image: Paul Fosh Auctions )
Next time you're tucking into a bag of Walker's ready salted crisps (other crisp companies and flavour choices are available) you might think that instead of indulging in your favourite snack you could be buying a house.
It's very, very unlikely that Love Cottage is going to sell at auction for its £1 guide price, but maybe for the same price as a multibag of crisps option? But the incredibly low starting bid is eye-catching and surely worth a further look at the property that is going under the hammer shortly and looking for a new owner.
The 'crisp bag' property is called Bwthyn Cariad, which translates to Love Cottage, needs plenty of love and a dedicated budget to renovate it, revive it, and release its full potential as a much-loved home again. For more property stories sent to your inbox twice a week sign up to the property newsletter here.
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It's got a good sized kitchen diner as a plus point
(Image: Paul Fosh Auctions )
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The house can be found in the heart of the bustling Pembrokeshire town of Pembroke Dock and the auction house who are selling the property online state that with a price tag of just £1 at auction, the vendors are hopeful they can attract an investor who is up for the challenge.
The cottage is in need of a total revamp but Sean Roper, from Paul Fosh Auctions, believes there could be handsome rewards for an investor looking to show the cottage plenty of love.
Goes down hill somewhat in the bathroom
(Image: Paul Fosh Auctions )
Sean said: 'The mid-terraced property has certainly seen much better days. But there is plenty of scope presented by what is there and added to that the property has a very large garden which could also be exploited and an auction guide price of just £1!
'Currently the property has two lower ground floor rooms with two bedrooms upstairs with the expansive garden which extends down the rear of Meyrick Street. It would seem that the lot offers a number of development opportunities, subject to obtaining planning permission.
Piles of rubble and broken doors - but what do you expect for £1?
(Image: Paul Fosh Auctions )
'The first could be to renovate and refurbish to a high standard for holiday lets due to its proximity to many of Pembrokeshire top tourist areas. Typically, a refurbished two-bedroom cottage would generate in the region of 28k per annum net as a holiday let.
'A second option could be to renovate and refurbish to a high standard as a long term let. There could be a high demand for this kind of refurbished property from young professionals and local workers and could achieve a monthly rental of some £900 per calendar month." For more property stories join our Amazing Welsh Homes Facebook group here
The renovation 'to do' list is long but the rewards are worth it says the auction house
(Image: Paul Fosh Auctions )
Sean says another idea for the property could be to renovate and refurbish it to a high standard and sell on the open market. He said: "Renovated a typical, two-bedroom high standard property in this area could sell for between £160,000 and £185,000.
'There is also an option to renovate and sell the garden space that runs up Meyrick Street that's with the property. Parcels of land could be sold to individual houses along Meyrick Street and then retain the house with a portion of the remaining garden space."
There is outside space but also exterior work to do
(Image: Paul Fosh Auctions )
The property is located within close proximity of the main shopping area of Pembroke Dock, a town located some three miles north west of Pembroke and seven miles south of Haverfordwest with good road links provided by the A477 which links to the A40 at Johnstown.
Pembroke Dock provides a comprehensive range of shopping and recreational pursuits also it benefits from a rail station North West of the property providing further transport links.
The A477 also leads north via the Cleddau Bridge crossing Milford Haven through to Honeyborough and also providing access to the heart of Milford Haven Centre.'
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Bwthyn Cariad will be sold online at Paul Fosh Auctions which starts at 12 noon on Tuesday, June 24, and ends from 5pm on Thursday, June 26, call to find out more.
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