Entire street of eight cottages for sale at £450,000 costs same as one-bed London flat

A street has eight cottages up for sale that cost £450,000 which is the same as a one-bedroom flat in London.

The terrace of eight cottages is former mill cottages that were built to house workers in Bolton, Lancashire.

The guide price for each property ranges from £40,000 - £60,000 and some have back gardens.

Yet a modest one-bedroom apartment in London is the same price as this entire row of cottages.

Whilst the cottages may need a spruce up, they are in a habitable condition apart from one which needs a total refurbishment.

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Edward Feather, the associate director at Pugh Auctions said: "Six of the cottages have two bedrooms and two of them have one bedroom.

"Seven of the cottages are habitable but all of them need updating and one of them (lot 70) needs total refurbishment."

The bargain houses up for grabs are perfect for investors or first-time buyers who want to start from scratch.

The decor of each house is minimalist so savvy home buyers can create their dream home from the get-go.

The properties are perfect for first-time buyers or investors (Pugh Auctions/Mercury Press)

They were former mill cottages that housed workers (Pugh Auctions/Mercury Press)

The properties were originally for former Mill Cottages that were built to house workers at Nelson Mill, part of Bolton's rich industrial heritage.

He adds: "The row of cottages is close to Chorley Old Road which is a busy residential area with shops and lots of facilities.

The terrace houses are on a road in Bolton (Pugh Auctions/Mercury Press)

"Gaskell Community Primary School is rated Good by Ofsted is directly opposite the cottages. "Thomasson Park is nearby and the centre of Bolton is only a mile away."

Each property is up for auction for dramatically less than a place in London meaning the buyer will have spare cash to splurge on the renovation.

The online auction opens for bids next Tuesday 19 October and closes the following day.

And it certainly isn't one to miss out on!

Edward adds: "While the eight cottages are being offered individually, it's a condition of sale that all eight properties need to meet their individual reserves for a sale of any of the properties to take place.

"If any of the eight properties do not meet their reserve then none of the properties will be sold, regardless of whether their reserves have been met or not.

"The reserve prices range from £40,000 to £60,000 and the total guide price for all eight properties is £450,000."