‘Potential flat’ covered in mould hits the market for £25,000

When we’re looking at spending our life savings on a new home, we’d ideally like to know that it’s habitable.

Now, a flat has gone up for sale for considerably lower than the market average, but the listing has raised one glaring question over its liveability.

Labelled as a ‘basement’ and ‘potential flat,’ this property in the St George area of Bristol is up for £25,000, which is just over £350,000 under the going price for a home in the area.

As per data from Rightmove, over the last year homes in the southwestern city fetched averages of £379,921 – which now towers over the nationwide price of £282,000.

So, why is it listed as a ‘potential flat’ rather than a fully-fledged one?

As the auction listing reads, the company has been advised by the mortgage broker that ‘we are unable to confirm whether or not there is planning in place for a residential dwelling so no residential funding can be obtained.’

As such, all ‘interested parties must make their own investigations’ as to whether they’re able to actually live in this £25,000 bargain, or whether it’ll simply be an extremely spacious storage cupboard.

It’s certainly a doer-upper-style project, as the walls are currently coated in mould.

While kitchen cabinets and a toilet remain in position, there’s no telling whether they’re connected – and they could certainly do with an update, to say the least.

The basement does currently have ‘private access and some natural light,’ but it does come with management fees of £133 per month. And luckily, there are no nasty surprises to be found with the leasehold, as this is currently set to 999 years.

As ever, the listing made its way onto the famed SpottedonRightmove Reddit thread, a space dedicated to discussing the weird, wacky and wonderful properties listed online daily.

‘With the rising damp coming up from below and the seeping damp coming down from above I think I’d give this one a miss. Also, if it’s built under the front garden of the house behind it then who owns the roof?,’ @Yikes44 penned.

Meanwhile, @No-Way-9777 asked if the mould was ‘included in the price,’ as @LilyLaura01 described it as ‘a crime scene.’

‘Flooded? I think I’ve caught something just from watching the video,’ @Rude-Cover-8727 added, while @Utwig_Chenjesu said ‘the horrific part is someone will be desperate enough.’

This isn’t the first time a flat has hit the market as only a ‘potential’ living location.

Earlier this year, an opportunity to get on the housing ladder in South London presented itself for just £5,000.

As ever, there was quite the catch – as the basement area was sold off so that the new owners could carve out a home beneath the ground floor of the house.

Managed by Auction House London, the organisation described the sale as ‘a development opportunity to create a lower ground floor flat beneath an existing mid terrace house arranged over ground and two upper floors.’

Things haven’t been much better north of the river either, as a basement flat (which, granted, had already been built) went up for sale in Crouch End for £159,000.

In May 2024, Gov UK data showed that the average cost of a London property was £523,000, compared to £209,000 up in Yorkshire and the Humber.

Naturally, the price was so low because it was a complete doer-upper that needed a full conversion.

According to Frognal Estates, the purchase was ‘subject to obtaining the necessary consents,’ meaning that it technically didn’t qualify as a flat at the time of purchase – but would become one with the correct permissions.

What’s life without a little bit of uncertainty, after all?

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