House up for sale for £1

A HOUSE is to be auctioned at a knock down price. The two-bedroom property could be going, going, gone - for £1!A single pound coin could be enough for a prospective purchaser to buy the house and sheds in Cliff Road, Waldringfield, near Woodbridge.

Richard Smith

A HOUSE is to be auctioned at a knock down price. The two-bedroom property could be going, going, gone - for £1!

A single pound coin could be enough for a prospective purchaser to buy the house and sheds in Cliff Road, Waldringfield, near Woodbridge.

That is the reserve price and the successful bidder will have to dismantle the building and take it away from the land within two weeks of buying it.

The two-storey property is described as an ''interesting detached 'Colt' bungalow'' lying in a hidden location off the main road through the riverside village.

It stands on land that is to be used for the construction of two contemporary properties, both with price tags of more than £900,000.

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But first the land needs to be cleared and that is why the 1930's property is being offered at such an unusual price.

David Mortimer, an auctioneer with Hamilton Smith, Church Street, Woodbridge, said yesterday: “Colt buildings are made out of cedar wood, a very well preserved wood, and because they are made out of cedar wood they are very good.

“The site is to be cleared and we thought it would be a shame for somebody to trash and burn the property, and we would much rather see it being taken away and put to good use.

“There has been interest in this property from landowners and farmers because it is made out of cedar wood and it will go for more than a pound, perhaps £1,000.”

There is also a four-bedroom house made out of similar construction next to the property and, although it is not in the auction, it will be offered to the successful bidder.

There are nearly 16,000 Colt homes in the UK and they have also been built in Europe, the Seychelles, Falkland Islands, Faroe Islands and Africa.

The auction is on March 27 at 11am at the Trinity Business Centre, Suffolk Showground.

The auction also includes a former Baptist burial ground with 50 graves in Sandy Lane, Sutton, near Woodbridge, and a pair of thatched Grade II listed cottages in Church Road, Tattingstone, which are believed to be the oldest council houses in Britain.

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