Published: 06:00, 08 September 2021
| Updated: 06:45, 08 September 2021
It's not every day a three-bedroom house with views of the Kent coast is up for grabs for just £110,000.
Yet this end-terrace property in a sought-after area near Ramsgate's stunning harbour is not like most homes on the market.
The average house price in Albert Street is £320,000 - up a staggering 64% on the previous year according to RightMove.
Therefore, at first glance number 18 - which goes under the hammer this month - appears to be an absolute bargain.
Located in a conservation area at the corner with Adelaide Gardens and arranged over four floors, it dates back to the 1830s and even has Grade II-listed status.
Auction appraiser Jon Rimmer admits the property needs "complete refurbishment" but insists "it will be well worth the effort".
“It is close to Ramsgate’s Royal Marina and town centre and is very roomy inside," he adds.
But it's after stepping inside those rooms that the stark reality of the mammoth renovation task ahead becomes all too clear.
A video tour of the property posted by auctioneers Clive Emson reveals a home which appears to have been untouched for years.
Yet the house was in fact occupied until 2020, when the previous owner, who did not have the required funds to carry out any repair works, sadly died.
Retro posters can be seen on the walls featuring Princess Diana, Elvis Presley, the X Files and pop group Steps, as well as Teletubbies stickers.
There is a TV with in-built VHS and DVD players, while various newspaper cuttings are pasted around the house - including a Sun front page from 2007.
Just inside the front door, unread leaflets and letters are scattered across the floor, while wallpaper peels away from the hallway ceiling.
Some of the rooms remain cluttered with belongings, including teddy bears.
The building has previously been used as both a house and shop, according to Historic England.
It became one of Thanet District Council's first ever shared ownership properties in the 1980s.
According to a report presented to the authority's Cabinet in June, the council became the sole owner of the house last year when the owner died.
"The property is in a poor state of repair as the previous owner did not have the financial capacity to carry out any works," it said.
The document said essential work is required to the roof, which would cost between £19,000 and £32,000.
It added that if the property was completely refurbished, its value would increase to £260,000.
Watch the full video tour of 18 Albert Street
But council officers estimated that such a refurbishment would cost in the region of £180,000.
Cllr Tricia Austin told KentOnline this week she had argued for the council to keep the property for community use.
She said the "beautiful building" could have been turned into a tearoom or had the upstairs converted into an AirBnb.
Cllr Austin said residents were opposed to the property being put up for auction due to concerns over "land-banking".
"We have had so many buildings and so many bits of land bought up by developers who then sit on them while they increase in value."
Despite the concerns raised, TDC's Cabinet decided the property should be sold at auction.
It will go under the hammer with a guide price of £110-£120,000 on Wednesday, September 22.
See www.cliveemson.co.uk for more details.