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Daily Record
Daily Record
National
Sarah Ward & Paul T Smith

Scots flat on market for less than London deposit sells for double the asking price

A one-bedroom flat which went under the hammer for £14,000 - less than the cost of a deposit in London - sold for more than double the asking price.

The modest flat, 24 Birnam Place, Ladysmill, Falkirk, was described as an "investment opportunity", and has a bedroom, front room, kitchen and bathroom, and communal garden.

It was up for auction for the same amount as a deposit for a one-bed flat in London.

(Future Property Auctions / SWNS.)

A deposit for a one-bed flat in Purley Way, Croydon, South London, could be as much as £14,750 with a mortgage of £162,250.

Tenants have lived there since 2018 and it was valued at £35,000.

It was sold on Friday April, 9 by Future Property Auctions for £36,027 and auction fees.

Speaking before the sale general manager John Morris said: "The property is offered at a very attractive price.

"We have already received several bids to buy it before it goes to the auction. The property will be sold to the highest bidder on at the auction on Friday the 9th of April.

"The property is attractively priced and has a home report of £35,000 so is being offered over 50 per cent below its true value.

"With a long term tenant in the property it is an easy affordable investment that is sure to do the buyer well."

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