A three-bedroom tenement flat in the West End is set to be auctioned this month with a guide price of from just £50,000.
The ground floor, main door flat at 18 Glasgow Street, Hillhead is located just off Great Western Road, close to popular bars, restaurants, subway stations and Kelvingrove park.
The flat is currently uninhabitable, meaning the buyer would need to complete work to bring it back to its former glory, according to Auction House Scotland which is selling the lot.
The traditional tenement property is in a currently unsafe building, with structural repairs required, says the auction company’s press release.
Essential repairs
Buyers must ensure they are aware of the responsibility of the essential repairs and the share of the costs involved. The property is sold as seen, and unsafe for viewings, it says.
“Despite the work needed, the property offers colossal potential to add value. On completion of works, the three-bedroom West End flat would be hugely desirable to owner-occupiers as well as a buy to let investment for the many people looking for a flat in the West End, with the university a stone’s throw away,” according to the release.
Mandi Cooper, Managing Director of Auction House Scotland, added: “This rarely available corner positioned flat is an unmissable opportunity for a developer, with a potential end value of around £400-450k.
“Despite the structural and refurbishment works needed, this investment is worth every penny.
“Three-bedroom tenement flats in the West End, especially those that come with a main door and garden space, are highly sought after and I look forward to seeing the finished home.”
This rarely available corner positioned flat is an unmissable opportunity for a developer, with a potential end value of around £400-450k. - Mandi Cooper
The property at 18 Glasgow Road is due to go under the hammer with property auctioneers Auction House Scotland at their next in-room auction on Thursday November 28 at the Radisson RED hotel in Glasgow.
The auction will also be live streamed, allowing bidders to bid online, by telephone or by proxy.
The tenants in the eight properties that make up the building were evacuated in August 2021 following an inspection by a structural engineer from Glasgow City Council’s Building Standards & Public Safety service.
A statement at the time said there was “significant movement at the base of the front wall on Glasgow Street”.
Road closures were put in place in the area as a result of the condition of the building. It was reported at the time that all but one of the eight flats were student lets.
