Despite needing a complete renovation, a three-bedroom house in the south Wales valleys, which was damaged by fire and boarded up, has sold for almost three times its guide price at auction.
The house in Mountain Ash had a guide price of £32,000 but sold for £91,000. The house requires a full renovation, which is probably better suited to an experienced property developer rather than a novice.
The fire damage was particularly worrying, but the property also includes a large commercial use garage with two inspection pits, parking, and side lane access.
Although people couldn’t initially view the building due to it being boarded up after the fire, once internal viewings were permitted, interests were ignited.
There were a total of 41 bids lodged by nine individual bidders with online bidding starting early.
According to Angie Davey of Paul Fosh Auctions, the sale further demonstrates that the property market is thriving in the south Wales valleys, with challenging places, such as this one, offering excellent value for money for investors ready to roll up their sleeves and get renovating.
The house is located in the Cynon Valley town of Mountain Ash, which has a railway station and far-reaching hillside views.
It also offers extensive outdoor space and has an open-plan lounge/dining room, kitchen, lean-to utility area, bathroom, three bedrooms, and an attic room.
»Fire-damaged, detached south Wales valleys house sells for almost 3 times its price at auction«
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