Terraced house goes on the market for £0 - but you won't want to see inside

Whenever a property goes to auction with a zero reserve price then it's effectively on the market for £0 until someone bids on it.

However, if that does happen then the sale is more than likely going to be a renovation project. But when the building comes complete with fire damage, as well as tired interiors and structural updates to add to its woes, you could call it an extreme renovation suitable only for the experienced.

In theory, this terraced house in New Tredegar in Wales with an auction reserve of absolutely nothing and a non-existent guide price could be sold for the same price as a bag of crisps, pair of shoes, or second-hand car, reports WalesOnline. Even with its upper floors caved in due to fire and rubble, plus old furniture waiting to greet you inside, the property is likely to be more popular than you might expect when it goes to online auction.

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The auction house taking this renovation project to virtual, online auction describes it as having suffered significant fire damage and in a 'sorry state of repair', hence the auction guide price of £nil. On the positive side, though, it also offers huge potential for redevelopment into a spacious family home or even apartments or a house of multiple occupancy (HMO) that could prove to be a bargain for a builder or experienced property developer, subject to planning consent, of course.

Sean Roper from Paul Fosh Auctions says: "The terraced house is in the village of New Tredegar, and comes with sweeping valley views. The village benefits from a good range of amenities and shops and is ideally situated for access to Bargoed and Blackwood."

Using the main A roads that meander down each valley, or catching a local train or bus, the house is commutable to the M4, Newport and Cardiff to the south, and Merthyr Tydfil, Aberdare and Abergavenny to the west and north.

Exploring the stunning Bannau Brycheiniog National Park is a tempting proposition from this front door too, a drive to the north that is easy for a memorable day out surrounded by nature's raw beauty. But even from the windows of this house, or the ones that remain, the hillside views are worth lingering and admiring without leaving the site.

Sean continues: "Although severely damaged in the fire and now partially stripped out, the building, which is being sold with vacant possession, appears to offer three rooms on the ground floor.

"There are a further four rooms on the first floor with three to four rooms on the lower ground floor with a bathroom area. The property has a rear garden and is served with a lane access. Listed with a £nil reserve this large property with huge potential could end up being sold at auction for a matter of just a few hundred pounds depending on interest and a developer’s appetite for the challenge."

The property is being sold online by Paul Fosh Auctions with bids starting from noon on Tuesday, October 1 and ending from 5pm on Thursday, October 3.