Tor Cottage in Torquay in the south west of England ticks all the right boxes in terms of desirability but it is also just yards from the edge of Oddicombe Cliffs.
One nearby property, Ridgemont House, recently collapsed into the sea due to a landslide so anyone taking on Tor Cottage is facing a risk.
According to estate agents without the cliff fall risk the four bedroom house would be on the market for around £400,000.
Quick house sale specialists House Buyer Bureau has bought Tor Cottage on Redcliffe Road, St. Marychurch, Torquay, and are seeking a buyer at auction with an asking price of just £25,000.
‘Tor Cottage is in a wonderful location and in another part of the town could sell for many times the guide price. The property and its plot have stunning views of the Devon coastline. However it’s those sea views that have influenced the low guide price,’ said the firm’s sales director Chris Hodgkinson.
‘If the successful buyer does their homework, obtains the correct surveys prior to purchasing then there is clearly a degree of risk involved, however Tor Cottage and the land it is on do have potential as an investment opportunity,’ he explained.
The property is going under the hammer in the Graham Penny Auctions sale next month. ‘The property’s enviable sea views does mean it’s relatively close to the cliff edge and other neighbouring properties have experienced substantial subsidence in recent years,’ said auctioneer Graham Penny.
‘It’s impossible to say whether Tor Cottage will be subjected to subsidence itself. Indeed it’s possible a shrewd buyer could get a return on their investment if Mother Nature is kind to them,’ he added.
Tor Cottage is located close to the Torquay Golf Course and has a reception hall leading to an open plan living room and dining room, a fully fitted kitchen, four double bedrooms, bathroom and a study.
Prospective purchasers will need to register with the auction room before the sale commences and two items of identity will be required together with an indication of how a contractual deposit will be paid. Cash or credit card deposits will not be accepted. The sale of this lot is subject to a buyer’s contract handling fee of £500 plus VAT payable on the fall of the hammer.