Colchester abandoned home up for auction for £50,000

The two-bedroom home, in Magdalen Street, has been described as a “major project” by auctioneers.

According to The Move Market, 126A Magdalen Street was last sold in January 2014 for £116,00.

Cottage - previous photograph of the house taken in 2013 (Image: Zoopla/ Auction House East Anglia)

Disrepair - dining room in poor condition (Image: Zoopla/ Auction House East Anglia)

Before that, in 1997, the home was sold for £56,860, but it is now predicted to have a value of £227,000.

It has, however, fallen into a state of disrepair and is therefore being auctioned off for £50,000.

Abandoned - the kitchen in the derelict home (Image: Zoopla/ Auction House East Anglia)

The home is set back behind a row of terraced homes in Magdalen Street, surrounded by an overgrown garden.

The auctioneer has said viewing the inside of the property is not possible because of the heavy overgrowth.

Access - the site is to the rear of terraced homes in Magdalen Street (Image: Zoopla/ Auction House East Anglia)

A spokesman for Auction House East Anglia said: “This detached cottage is of brick/rendered construction and is tucked away behind a terrace of properties and accessed via an alleyway.

“The property offers two reception rooms and two bedroom accommodation but requires full renovation but has not been inspected due to the overgrown garden, internal viewing is not possible.

Lounge - inside the home which needs some work (Image: Zoopla/ Auction House East Anglia)

“Whilst this is a major project we believe the pricing allows for a good profit margin when the works are completed and the property sold on.”