An investment property which failed to reach its £179,000 reserve price at auction has been relisted – with a £120,000 reserve.
The 18th century labourer’s cottage in the Midlands originally used for nail-making will appear with a reduced price in Bond Wolfe’s next auction.
A spokesperson says: “It now benefits from planning permission for conversion into a large three-bedroomed family home, and works have already been started.
“The listed building consent is for two-storey and single storey extensions to the rear, a single storey side extension, a new roof and new gates.
“As a result, the property has already undergone extensive structural repairs and now needs a new owner to complete the conversion and create a unique family home.”
Once the conversion is complete, the property will have two reception rooms on the ground floor, an open plan kitchen and dining room, utility room and shower room with toilet.
There will then be three bedrooms off the landing upstairs, along with a second shower room with toilet.
Historic England’s listing states the property was built as a farm labourer’s cottage but later used by a nail-maker.
The spokesperson continues: “The vendor has informed us that the neighbour may also be interested in selling off some of their land to create more space at the rear of the property.”
The auction on September 10 will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
