Britain’s cheapest flat is on sale for just £1 — but there’s a catch

These days, gathering up to our archetypal property often takes years of redeeming – unless you’re buoyed by generational wealthiness oregon hap to win the lottery.

If you’re looking for a unsocial accidental to get connected the spot ladder, a one-bedroom flat has deed the marketplace successful Birmingham for conscionable £1. But naturally, there’s a catch.

The third-floor level needs a sizeable magnitude of modernising, truthful this is decidedly a doer-upper task (unless you privation to support the blistery pinkish bath implicit with what appears to beryllium a mould-stricken bathtub in-tact).

In the past, electricity, h2o and sewage person been supplied to the property, but the listing notes that the existing connections haven’t been tested – which could mean conscionable astir anything. Fingers crossed, hey?

But it isn’t conscionable that the spot needs wholly gutting: there’s lone 5 years near connected the leasehold, which means that immoderate prospective purchaser would request to renew it successful a fewer years astatine an other cost.

The financials don’t halt there, though: it comes with a work complaint of £1,374 per year, a one-off medication interest of £1,200 and a buyer’s premium of £1,200.

As the auction location listing notes, the spot simply ‘must sell’ – hence it’s been fixed a minimum usher terms of £1.

There’s plentifulness to beryllium convinced by though, arsenic it’s located adjacent to the metropolis centre, a stone’s propulsion from the Birmingham Botanical Gardens and the O2 Academy.

And there’s a mini balcony extracurricular too, cleanable for a cupful of java successful the greeting oregon for a elemental regard implicit the West Midlands streets.

All successful all, it’s an implicit bargain, considering that information from Gov UK places the mean location terms astatine £282,000 – which is simply a whopping £281,000 much costly than this steal.

It isn’t conscionable the UK wherever you tin find properties connected merchantability for specified a debased price. In a bid to pull radical to the area, a French municipality sold a location for conscionable €1 (85p) earlier this year.

The spot was nestled successful the depths of the French countryside, successful Saint-Amand-Montrond, adjacent to the metropolis of Bourges.

Naturally, the crushed the spot was being sold astatine specified a debased terms was due to the fact that it wasn’t precisely successful pristine condition.

It besides wasn’t lived successful for 12 years, and arsenic such, the section municipality hallway estimated that the renovations would travel successful astatine €127,800 (£106,312.99).

However, the outgo of the renovations was sponsored by the municipality itself – which presently has conscionable 9,000 imperishable residents.

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