A sizable three-bedroom end terrace property in Burslem that was smoke and fire-damaged, causing particular issues to the roof, went up for auction last night, with the bidding starting at a miniscule £5,000.
While the property may well have sold for up to £50,000 (considering the potential of this place, this is still what we would consider to be a bargain), and we’ve yet to find out the official results, this homely place complete with three ample bedrooms and two reception rooms, offers stacks of potential for the right buyer.
With a healthy but far from outlandish renovation budget, this property could be restored into a wonderful family home that yields a healthy rental profit or even be converted into two modernised flats aimed at the city’s young professionals.
What's more, the property auction has been incredibly well received by local residents, many of whom are delighted that it could soon be brought back into good use.
Speaking to The Sentinel, local resident Yvonne Sargeant said:
"There have been children getting in the house. The roof has gone as has the plaster off the walls. Whoever takes it will have a blank canvas. I am pleased somebody is going to buy and rebuild the property. It is an eyesore and a danger at the moment. It has been terrible for people going past on the pavement.”
While this situation doesn’t arise every day, it serves to highlight the fact that it’s possible to acquire high-quality houses or homes with plenty of potential in Stoke-on-Trent for incredibly competitive prices and with a little work, gain a great deal of profit in the long run.
Not only is Stoke-on-Trent a city that is on the up both culturally and economically, but being the local buy-to-let hotspot that it is, for landlords looking to stake their claim in an area that promises to offer a wealth of long-term financial rewards, investing in The Potteries in the near future will make an incredibly wise move - don’t miss out.
People are leaving London in their droves, looking for new areas, like Stoke, to start anew. Find out real reasons why people are leaving the Big Smoke here.