Bargain £200k mansion with 33 bedrooms is not quite what it seems

Spending £200k on an incredible 33 bedroom mansion with acres of land sounds like the bargain of the year.

But ever heard the phrase about something being too good to be true?

Troy House in Monmouth, Wales, is a Grade II listed four storey dream home which dates back to the 17th century.

It has a theatre, chapel and two tennis courts and you are surrounding by the rolling countryside.

The Mirror reports that the 44,000 square-foot property has now been put up for auction, with a guide price of between £200,000 and £250,000.

But a quick look inside will show you that you'll need a lot more than the buying price as the property is in a less than ready to move into state.

The property is surrounded by the countryside (Allsop.co.uk)

The mansion, listed by  Allsop, provides 29 bedrooms, four dormitories, a principal's flat, a staff flat, a caretaker's flat, a two storey hostel block, outbuildings and gargaing.

However the former convent school, which then became a school, has been left to rot after being vacated in the 1980s.

The renovation job on the property will have to be quite substantial as photos of the interior show floorboards and structures rotten through.

There will also be a lot of clearing out taking place as there is still some abandoned school furniture left in there.

It's not quite ready to move into (Allsop.co.uk)

The description for the property reads: "The property is presented in a poor state of repair and requires extensive works of modernisation and refurbishment.

"The property may afford possible potential for redevelopment and/or a number of alternative uses, subject to obtaining all necessary consents."

"It'd be the perfect long-term project and once ready to live in, it's located just a short journey from the historic market town of Monmouth, with both Cardiff and Bristol city centres also accessible.

Richard Adamson, partner and auctioneer at Allsop, said: "Troy House has received a significant amount of interest with over 100 enquiries regarding the property, in just over a week of coming to the market.

It requires a huge amount of renovation (Allsop.co.uk)

"We have seen a mixed-bag of interest from people who could use the property for multiple uses including as a private home, converting into a boutique hotel and spa, or refurbished into luxury apartments, subject to planning.

"The property has a committed seller who is happy for the house to be sold at true value - as a result, we anticipate some competitive bidding on auction day."

The auction for Troy House will take place on Thursday, May 28.