Pembroke Dock cottage put up for auction with £1 guide price

Western Telegraph

10 hours ago

Bwthyn Cariad, also known as Love Cottage, is located on Meyrick Street in Pembroke Dock and is being sold by Paul Fosh Auctions.
The mid-terrace property is in poor condition and in need of full renovation.
Sean Roper, of South Wales-based Paul Fosh Auctions, said: "The mid-terraced property has certainly seen much better days.
"But there is plenty of scope presented by what is there and added to that the property has a very large garden which could also be exploited and an auction guide price of just £1."
The cottage features two lower ground floor rooms, two bedrooms upstairs, and a large rear garden.
Mr Roper said the property could be suitable for development, subject to planning permission and there are a 'number of development opportunities.'
He said: "The first could be to renovate and refurbish to a high standard for holiday lets due to its proximity to many of Pembrokeshire's top tourist areas.
"Typically, a refurbished two-bedroom cottage would generate in the region of £28,000 per annum net as a holiday let.
"A second option could be to renovate and refurbish to a high standard as a long-term let.
"There could be high demand for this kind of refurbished property from young professionals and local workers and could achieve a monthly rental of some £900.
"Another idea could be to renovate and refurbish to a high standard and sell on the open market.
"Renovated, a typical two-bedroom high standard property in this area could sell for between £160,000 and £185,000."
He also suggested potential value in the garden.
Mr Roper said: "There is also an option to renovate and sell the garden space that runs up Meyrick Street that's with the property.
"Parcels of land could be sold to individual houses along Meyrick Street and then retain the house with a portion of the remaining garden space."
The property is close to the main shopping area of Pembroke Dock, which is located three miles north west of Pembroke and seven miles south of Haverfordwest.
The town has good transport connections via the A477 and a nearby rail station.
Bwthyn Cariad is one of more than 80 lots listed in the upcoming Paul Fosh Auctions.
The sale opens at 12pm on Tuesday, June 24 and closes around 5pm on Thursday, June 26.