A 'doer-upper' flat in Edinburgh is on sale for less than £70,000. The three-bed home in Pilton, four miles from the city centre, needs a lot of TLC.
Owing to its current state, it may be a project for an ambitious property owner whose grand designs could see the run-down flat return to its former glory. The walls are stripped in the kitchen, while the bathroom still has old shampoo bottles.
Trash has been dumped on the floor in the large front room. Despite the rubbish and litter in the house, the property is spacious - all bedrooms are doubles.
The ground-floor flat is on West Pilton Gardens. It is on sale at auction with a guide price of £69,500 upwards, and could rake in £13,000 in rent for a landlord.
Similar properties within this street sold for within the region of £120,000 to £127,000 between November 2021 and June 2022. The flat will be sold by Auction House Scotland’s in-room auction taking place at 2pm on January 26 at the Radisson RED hotel, Glasgow.
Mandi Cooper, managing director of Auction House Scotland said: “With a competitive guide price and being within easy reach of Edinburgh city centre, this spacious flat offers an exciting opportunity for a buyer. They could add significant value to the property, whether for resale, rental or occupation as a family home.”
The erratic property market continues to experience upheaval in the new year. According to Financial Times, UK mortgage approvals have fallen to the lowest level since 2020.
Data from the Bank of England highlights a still highly turbulent housing market, which is a hangover from the 2022 Truss-Kwarteng mini-Budget.
