'Boulder-risk' bargain eventually sells for £120,000
A SIX-BEDROOM property in the Wye Valley which was advertised for auction at just £75,000 has been snapped up for almost £120,000 after fierce bidding.
Auctioneer Paul Fosh was worried that the unfinished new-build detached property would be hard to sell on account of the unstable rocky bank just behind it, from which boulders could fall into the garden.
But the house, at Tinman's Green, Redbrook, near Monmouth, was bought by a couple from Stonehouse, near Stroud, who plan to deal with the problem and then resell the property.
The guide price for Lakeside was a fifth of what properties in the area would normally fetch.
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So Mr Fosh said he was delighted that it eventually achieved a price of £119,000.
The next Paul Fosh Auction is on August 2 in Cardiff. For details, visit www.paulfoshauctions.com.