A three-bedroom detached house has hit the market for just £50,000 in Aberdeen city centre.
Located on Dee Street in Ferryhill, this future family home is a stone’s throw from Union Square.
Data from Zoopla shows the average sold price for a detached property in the AB11 postcode is £238,500 – so what’s the catch?
Unfortunately, it has been “deemed unsafe due to fire damage” after a devastating blaze in March 2018.
The property, last sold in 2017 for £157, 099, is to be auctioned by Auction House Scotland, with a guide price of £50,000.
Bidding opens on July 15 – and with the right amount of investment, this property could be transformed from a derelict shell to a lovely family home.
The detached traditional villa – which dates back to around 1900 – is split over two levels and there is no internal access.
It has been described as having a “generous” footprint and is believed to include three bedrooms – however, no definitive internal detail can be verified due to its unsafe condition.
Some garden grounds appear to form part of the title, with the property being landlocked with pedestrian access only.
No home report is available as the building is uninhabitable due to the fire, with viewings external only.
The property is described as a “fantastic refurbishment project” with “strong development potential”.
The description says: “The competitive guide price and obvious potential will undoubtedly encourage investor/developer, and early expression of interest is recommended.”
Looking for ideas? Our features writer Rosemary Lowne recently spoke to Ferryhill resident Louise, who gave her home an impressive makeover.
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