One-bedroom flat in Falkirk sells for £14k – less than a London deposit

2 months ago 30

A one-bedroom flat in livable condition sold on Friday for a guide price of just £14,000 – less than the cost of a deposit for a one-bed flat in London.

The small flat in Falkirk has long-term tenants and amenities such as central heating and a communal garden.

It was sold by Future Auctions yesterday with the miniscule guide price, despite being valued at £35,000 (and properties in the area selling for upwards of £100,000).

For comparison, 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.

Sorry Londoners. This isn’t to make you feel bad, just to show you how far your money can go in different parts of the country.

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

Tenants have lived there since 2018 when it was valued at £35,000, so it would be an easy transition for a buy-to-let investor.

You’re just a short walk from Falkirk Grahamston station, which can get you to Glasgow or Edinburgh in around 30 minutes, making it perfect for commuters.

Other attractions in the area include the Kelpies sculptures and the surrounding Helix Park, the Falkirk Wheel, and the sites of historic battles such as Bannockburn and Stirling Bridge.

Although it was offered to a potential landlord, Falkirk has been ranked among the top places to live in the UK, so it could be an ideal fixer-upper into the future.

General manager at Future Auctions John Morris said before the auction: ‘The property is attractively priced and has a home report of £35,000 so is being offered over 50% below its true value.

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

Missed out on this one? Perhaps you could head towards Wishaw for another bargain property at £23,000.

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