The ultimate fixer-upper! Sprawling French Gothic-style mansion for sale at auction with a £1 asking price – but potential buyers are warned the run-down property is in a dangerously ‘poor condition’
- Gothic mansion looking to be restored to ‘former glory’ is on sale for just £1
- The Elms in Scotland, is described as ‘fantastic development opportunity’
- But potentials buyers have been warned the property is in a ‘poor condition’
A gothic mansion looking to be restored to its ‘former glory’ is to go under the hammer for just one pound after being put up for auction.
The Elms in Angus, Scotland has been described as a ‘fantastic development opportunity’ by auctioneers – but potentials buyers have been warned that the property is in a ‘poor condition’ and appears on the Buildings at Risk Register.
Originally built for a mill-owning family, the 19th century, two-storey house in Arbroath previously operated as a hotel until World War II, before it became a children’s home.
With no reserve price set – the lowest offer a seller would accept – the run-down property could sell for just one pound.
A gothic mansion in Angus, Scotland, is set to go under the hammer for just one pound after being put up for auction
The Elms (pictured) in Arbroath, Angus, has been described as a ‘fantastic development opportunity’ by auctioneers
National Property Auctions Managing director Mandi Cooper said: ‘This property is a massive opportunity for a developer to restore the building to its former glory.
‘This is a rare opportunity for a developer to pick up an A listed building. The Elms was built for the mill-owning Corsar family.’
But the auctioneers recommend that potential bidders seek legal advice first, with a sign on a boarded up window of the property reading ‘Dangerous building KEEP OUT’, according to The Sun.
The children’s home of the World-Wide Evangelisation Crusade was closed at the mansion 17 years ago.
Originally built for a mill-owning family, the 19th century, two-storey house (pictured is its front door) has previously been operated as a hotel until World War II before becoming a children’s home
Despite its impressive exterior, the former hotel and children’s home could sell for as little as just £1
The building then had planning permission to convert into six flats and five houses, but this has since expired.
‘These impressive homes are suited to a variety of buyer types looking for a well located home with straightforward access to local amenities,’ the sales description reads.
It explained that the surrounding area has ‘excellent transport links’ with ‘regular train and bus services between Arbroath and Dundee and Aberdeen’.
the property is due to be sold at auction, where properties often sell for significantly more than the initial asking price. The sale for National Property Auctions takes place on Friday 17 July 2020 at 11am.