A derelict property in the centre of Preston is due to be auctioned by Auction House Northwest in July Auction
…with a reserve price set at zero (26 July 2018), meaning it could sell for less than £1!
The property in George Street, in the city has been boarded up for more than 20 years and is not thought to have been entered during that time. But it’s thought it could have three bedrooms.
Auction House North West managing director, Oliver Adams said, “It is extremely rare for any property to be offered by an owner with no reserve at all. That technically means the property could sell for pennies, with only the standard auction fees of £900 to pay.”
The property stands in a street, just metres from one of the main roads into Preston. It’s an end of terrace home in a vibrant residential area with a park on one side.
Oliver Adams added, “It is impossible to judge the condition of the house without going inside and at the moment the garden is too overgrown to get through to the back of the property. But if someone is willing to take a gamble this could prove the bargain of the century. It’s ideally located for the centre of Preston but Liverpool and Manchester are also both a 45 minute commute.”
At the moment there is a similar property in the same street which is in a good condition is on the market for £97,000.
27 George Street is being auctioned on 26 July 2018 with a nil reserve and no guide price.
The sale will take place at 2pm at Bolton Wanderers Football Club on 26 July 2018.