Ex-council house in need of a lot of work sells for a whopping £1.4m – but there’s a spectacular reason for sky high price
Local authority house in need of total renovation sells at auction for more than twice the guide price
A THREE-bed former council house in need of total renovation has sold been for an incredible £1,440,000.
Sunset House went for more than double the guide price - and for a very spectacular reason.
The run-down property in arty St Ives, Cornwall, sits on a hill overlooking the stunning Porthmeor beach.
It is just a few steps down the cliff to the golden sands and clear blue waters that make the resort one of the most desirable in the region.
Porthmeor is one of Cornwall's top beaches, and one of only eight in the county to hold the prestigious Blue Flag award.
The 1,300 sq ft three-bed property features a reception room, two shower rooms and a kitchen, with potential for additional accommodation in the basement.
Pictures show it is in need of a complete revamp with one bathroom apparently stripped of wall tiles and even the toilet cistern.
The kitchen is bare with cupboards ripped off the wall and other rooms also need an overhaul.
But it has huge potential to be a dream home with a detached garage, off-street parking and gardens to the side and rear.
The sale listing said it is "ideally situated on the seafront, with stunning, uninterrupted views across the coastline and water".
Gary Murphy of Allsop auctioneers said it was a rare opportunity to buy a house in such a sought-after location.
He said when it went on the market: "St Ives has always been a popular destination but the area has become increasingly sought-after.
"The 'Poldark effect' has no doubt helped to attract people to the town having highlighted the charm of the area.
"Perched on the seafront, this property is a rare gem, with potential for modernisation into a beautiful family home, or a complete redevelopment of the site."
Devon & Cornwall Housing group put the former council house on the market to raise funds to be spent on local affordable housing.
It had a guide price of £600,000 but went for nearly two and a half times that after huge demand.
According to Rightmove, house prices in St Ives in the last year were up by 17 per cent - bucking the trend in many other areas in the country.
Last year St Ives residents voted to ban people from owning second homes in the town as locals were being priced out.
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