One-bed Sunderland house up for auction with starting bid of £1

With a starting bid of just £1, this cottage is said to be an ideal first time purchase or investment opportunity.

The one-bedroom home, on South View Terrace, Houghton-le-Spring, is in need of renovation. However, property auctioneers Pattinson Auction feel the cottage has great potential.

The property consists of an entrance porch, lounge, kitchen, bedroom and bathroom. While externally there is a garden to the front and a yard to the rear.

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This property is in close proximity to primary and secondary schools, as well as local amenities. It also has good transport links to Houghton town centre, Chester-le-Street and Durham.

Hetton Lyons Country Park, Chester-le-Street Riverside Park and Penshaw Monument are just a short drive away from the property.

ChronicleLive recently reported how a pair of flats in Newcastle sold for £100,000 after being put up for auction with a starting bid of £1. Each room had been left in a state of neglect, with the former tenants' possessions, many harking back to the 1990s, filling the property.

The outside of the property had also deteriorated, with some of the windows smashed and wooden frames rotting.

Pattinson revealed to the Mirror: "We had a lot of interest in the sale to the point we ended up bringing the auction to a close sooner than originally planned. The property sold for £100,000 exactly with 98 bids."

Bids for the property can be placed through the Pattinson website.