Three-bed home goes on sale for bargain price of just £10,000 - but there is a major catch

A three-bedroom house is now on the market for less than a luxury watch - but it will need a lot of work.

The home, in Billingham, Teesside, hit the market for the bargain price of £10,000 and would appear to be the perfect family property. However, the fire has been left with significant fire damage and gaping holes in the roof.

The advert even states potential buyers might have to knock it down completely and build the home over again. Pictures show the upstairs windows completely burned out while significant damage has also been caused to the downstairs.

Estate agents also said the property comes with a large rear garden and green space to the front, but that the roof had caved in. The extensive damage could explain why it was on sale for less than a Portofino wristwatch, which is on the market for £11,900.

"The property comprises a two-storey semi-detached house which would appear to have previously provided three bedrooms," Estate agents Landwood Property Auctions said. "It is of brick construction with rendered elevations and is set within a pitched roof.

"The property has suffered extensive fire damage. We note that much of the roof has caved in and the uPVC windows are all damaged, with most being boarded. The property requires extensive rebuilding, or potentially demolition and a full re-build."

The nearest railway stop is about half a mile away and Billingham's town centre is also within walking distance. The advert added: "There is off-road parking for 1-2 cars as well as a detached garage at the far end of the driveway.

"There is a small front garden and a larger garden to the rear. Additionally, there are a range of primary and secondary schools close by as well several recreational grounds a short walk from the property."

The home was last sold for £67,000 in 2013. It will go under the hammer on Wednesday, May 8. According to the propert website Zoopla, the average terraced house sold for £89,207 in Teeside, while semi-detached properties went under the hammer for £143,933. The Office for National Statistics said the average UK house price in December 2023 was £285,000.