Edinburgh Flat Hits Market for Just £59,500 – with a Significant Catch

A one-bedroom flat located on Great Junction Street in the sought-after Leith area of Edinburgh has been listed on the market for an astonishingly low price of £59,500. However, there’s a significant catch – the property is currently deemed “uninhabitable.”

The listing images depict a property in a state of disarray, with rooms filled with litter and debris. The bedroom showcases a dilapidated bed with a stained mattress, and the room is cluttered with piles of rubbish. The living room-kitchen area is similarly cluttered, with hardly any visible floor space due to stacks of debris, deteriorating cabinets, and even a ladder precariously propped against a window. In other parts of the flat, walls are lined with bin bags and old clothes.

The flat, situated on the third (top) floor of a traditional tenement block, is described on Auction House Scotland as a “fantastic refurbishment project” in a popular location. Despite its current state, the property’s potential for value addition through refurbishment is highlighted. The location on Great Junction Street offers proximity to local leisure and retail options in Leith, as well as easy access to Edinburgh city centre.

The listing makes it clear that the property requires extensive refurbishment and is currently uninhabitable. Due to this, no Home Report is available. The description also includes the assertion that the property falls under the category of “unsafe properties,” as it poses a serious risk to the health and safety of occupants or visitors.

While the property’s current condition might deter some, the listing suggests that there’s potential for significant value increase post-refurbishment, making it an attractive opportunity for resale, rental, or occupancy.

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Despite the challenges presented by the state of the flat, it’s being marketed with a guide price of £59,500 plus fees. The listing encourages interested parties to move quickly due to the potential for high demand in the area.