It’s no secret that UK property prices aren’t in a healthy way. The past few months might’ve seen house prices fall very, very slightly, but buying anything, anywhere is still a very spenny affair.
But what if you could buy yourself a flat – and a pretty nice one, at that – for just £1? Well, that’s (sort of) the case in Cornwall, where the council has sold a bunch of historic, Grade II-listed flats for a quid.
The flats were originally valued at £640,000 and they’re in the town of Looe. They’re known as the Looe Coastguard Flats.
As you can probably guess, the deal had a ginormous catch. Cornwall Council specifically sold the flats to a community fund called Three Seas Community Land Trust, which has now agreed to spend £1 million refurbishing them. The council effectively wanted to do-up and sell the flats, but didn’t have the funds to do so.
In other words, you or I couldn’t bag a similar deal. However, Cornwall Council has said that once the Looe Coastguard Flats have been refurbed, they’ll apparently be sold on again as ‘affordable housing’. Exactly how ‘affordable’ they’ll be, we’ll just have to wait and see.
Which all sure still seems like good news, even if it’s not quite as good as getting a house for a quid.
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