Bargain Property Alert: Land Available for Just £50, But There’s a Twist

Budget-conscious house hunters have the chance to secure a plot of land for a mere £50, with one significant stipulation: they must take on the task of constructing the house themselves.

This vacant lot, nestled between two semi-detached homes, is set to be auctioned with an exceptionally low starting price.

The guide price is barely more than the cost of two large Domino’s pizzas, priced at up to £23.99 each, by just £2 and 2p.

Situated in Sunderland, Tyne and Wear, the plot will be offered by Auction House and listed on Rightmove.

Previously, the site housed a building that was taken down following a fire incident.

This presents an ideal chance for individuals aiming to climb the property ladder, especially during the ongoing cost of living challenges.

The listing details: “Land previously known as 184 Hasting Street available for development, pending planning consent.

“After the demolition of 184 Hastings Street due to a fire, the now cleared and flat parcel of land offers a prime self-build prospect, awaiting planning approval.

Nonetheless, potential buyers should be aware of additional costs tied to the purchase.

An administrative fee of £1,200, inclusive of VAT, and a buyer’s premium of another £1,200 are required at the contract exchange stage.

Over the last year, the average property value on this street was recorded at £55,917.

The auction is scheduled for the 29th of January.

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