Can £1 buy a new home?

19 March, 2021


Ten years ago, a visit to Schooner St, Barrow-in-Furness would not have been on the ‘must see’ list when visiting the North West. The Victorian tenements were faded from their original glory and were suffering from decades of neglect.

But glorious they once were.

To some, tenement might concur up images of poverty, bad sanitation and Dickensian conditions. In fact it was exactly those things that the construction of tenements hoped to end.

Watch the popular 1969 film Oliver to see a pretty accurate depiction of urban life in the 1840’s. Wooden housing, open sewers, disease and crime everywhere.

The architects of Schooner Street swept that away providing sanitary brick and tile homes for the employees of the nearby dockyards. Proper drainage, a roof that didn’t leak, washing facilities and toilets must have seemed like paradise to the workers of the time.

(above) Barrow Island in the early 1900

Coming back up to date, modern times – especially the 1970s and 1980s saw the area decline as the working methods at the docks changed and jobs were more scarce. The flats became more run-down and maintenance was neglected.

In recent years, that has begun to change with new investment in the area and a managing agent determined to restore the homes to former glory.

We’re selling one and it is almost impossible to value. That’s why we thought we’d let it find its level in an open bidding auction that begins at an unbelievable £1.

Tom Cranenburgh, partner at Get an Offer says “It’s possible it will sell to a buy to let investor as flats near there let really well, but I hope it sells to a first time buyer, just starting out. Once the flat is renovated it’s a great space and could be really nice inside.”

And will it actually sell for a pound?

“Well it could.” Says Tom. “We’ve had a lot of interest but no firm bids just yet. If we don’t get more people, well, £1 it is!”

At that price, we suspect it will be the cheapest historic home to ever sell in Britain.

Let the auction commence!

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