Home Residential Property Derelict home hidden by tree sells for over £500,000

Derelict home hidden by tree sells for over £500,000

9th May 17 4:26 pm

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A derelict three-bedroom house in Blackheath which is hidden by a huge overgrown tree has sold for more than £500,000 at auction.

The property went under the hammer on Tuesday where bids started at £470,000.

It was auctioned by Savills and the derelict home is said to be “in need of complete modernisation”.

Three bidders fought over the ownership of the house, it managed to sell for £554,000.

Robin Howeson, Savills auctions director, said: “I think it is a really good buy, but I think you’ve got to be a brave buyer to buy it. I think that would have put people off … to deal with that level of foliage on a house.”

He added: “I did expect it [the sale price] to go slightly higher. It is a really unique house.

“Seeing something like that with that level of work which needs doing to it coming through our catalogue in the last five years, I haven’t seen something like that.”

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