A flat in Glasgow with a hole in the ceiling and a room covered in pigeon droppings is being sold for just £15,000. The one-bedroom property, located in the Parkhead area, sits on the top floor of a traditional tenement block. It is currently deemed uninhabitable after remaining empty for many years.
Condition of the Property
The lack of occupation led to a pigeon nesting in the bedroom, entering through the ceiling and creating a mess. As a result, there is no home report available, and viewings are not possible. The estate agents, Auction House Scotland, who are listing the property, estimate that after extensive renovation, the flat could generate an annual rental income of £8,317.
Strong Interest from Buyers
Despite its poor condition, the property has already attracted strong interest from buyers. A representative from Auction House Scotland commented: "This property has been sitting empty for a number of years and is currently uninhabitable, requiring a significant programme of renovation works. That is reflected in the very competitive guide price ahead of our auction."
The representative added: "Despite its condition, there has been strong interest from buyers and we already have a healthy number of registered bidders. We expect the property to appeal to investors and developers who can see the potential and opportunity it presents."
Investment Potential
Located in a popular area of Glasgow, the property could become an excellent buy-to-let investment once renovated. Alternatively, it offers an opportunity for developers to add value and sell on for a profit. The flat is scheduled for a livestream auction at 2pm on 18 June.
