Sold: ‘Modest’ Falkirk flat goes up for auction with £14,000 price tag

By Sarah Ward

Published 14th Apr 2021, 07:00 BST

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A one-bedroom flat in Falkirk which went under the hammer for £14,000 sold for more than double the asking price.

The modest flat in Birnam Place, Ladysmill, was described as an "investment opportunity.”It has a bedroom, front room, kitchen and bathroom, and communal garden.

It was up for auction for the same amount as a deposit for a one-bed flat in London.

A deposit for a one-bed flat in Purley Way, Croydon, South London, could be as much as £14,750 with a mortgage of £162,250.

The one-bedroom flat in Falkirk at auction for just £14,000 (Future Property Auctions / SWNS)

The one-bedroom flat in Falkirk at auction for just £14,000 (Future Property Auctions / SWNS)

Tenants have lived there since 2018.

Committee to highlight plight of Falkirk's hospitality industry during COVID-19...

It was sold on Friday by Future Property Auctions for £36,027, plus auction fees.

The one-bedroom flat in Falkirk (Pic : Future Property Auctions / SWNS)

The one-bedroom flat in Falkirk (Pic : Future Property Auctions / SWNS)

General manager, John Morris, said: "We had already received several bids to buy before it went to the auction.

“It was attractively priced and had a home report of £35,000 – it was being offered over 50% below its true value.

"With a long term tenant, it is an easy affordable investment.”

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