'Trashed' three-bedroom semi in Milton Keynes prompts bidding war at auction
The Bletchley house needed extensive repairs
A gutted and trashed three-bedroom semi in Bletchley has fetched £212,000 at auction.
Bidding wars broke out over the house on Cleeve Crescent, which was among 119 lots up for grabs in Clive Emson Land and Property Auctioneers' June auction last week. It was being sold by a London housing association.
Clive Emson's regional director and auctioneer Paul Bridgeman said: “The sale of this house proved to be no enigma and our buyer certainly cracked the code for succeeding in this auction.
He added: “Although the property needs modernisation and improvement throughout, we had considered it ideal for owner-occupation or letting and our bidders could see this potential and drove up the price.”
Also sold at the auction as an investment property was a modern semi-detached house with a rear single storey flat roof extension at 65 Calder Vale in Bletchley. This achieved £169,000 freehold.
The house is currently let at £10,557.04 per annum.
Director and Auctioneer Kevin Gilbert said: “We considered this property ideal for continued investment and our bidders, and eventual purchaser, certainly agreed.
“There is very much a growing trend for solidly-tenanted properties to be added to residential investment portfolios, so now is a great time to come to market.”