Bid battle ignites as open house fuels investors interest in potential of fire ravaged Valleys house

A derelict, fire-damaged, detached South Wales Valleys house sold for almost three times its guide at auction despite needing a complete renovation.

Although boarded-up and overgrown, three bedroom Kinley House, Morris Avenue, Mountain Ash with a price of £32,000 sold online for £91,000 at Paul Fosh Auctions.

Angie Davey, of  Newport-based Paul Fosh Auctions, said: "Initially we couldn't let people into the building as it was boarded up after the fire but when we were able to allow internal viewings interests were ignited. 

"Despite the state of the place with fire damage throughout, including up the walls and across ceilings, people could really see the potential of the previously four, now three bed property, with its extensive outdoor space.

"Online bidding started early and by the end there had been a total of 41 bids lodged by nine individual bidders.

"This sale further demonstrates that the property market is thriving in the South Wales valleys with challenging places, such as this one, offering very good value for money for investors ready to roll up their sleeves and get renovating.

"The detached house, in a good sized plot with garden, also includes a large commercial use garage, with two inspection pits, parking and side lane access. The garage, although now overgrown, had previously been used for  car repairs. 

"The property, in the Cynon Valley town of Mountain Ash which has a railway station, has far reaching hillside views. The house has an open plan lounge/dining room, kitchen, lean to utility area, bathroom and three bedrooms plus attic room."

www.paulfoshauctions.com