The owners have listed the house at auction with a £1 guide price and no reserve, hoping to cut their losses after the landslip.
A house with four bedrooms, multiple living rooms and a private driveway would usually attract buyers looking for space and a quieter pace of life. But one property in the English seaside town of St Leonards-on-Sea is being offered for less than the price of a cup of coffee.
Its guide price is just £1, and the reason has little to do with the condition of the house itself. A devastating landslip destroyed its garden, leaving the property uninhabitable and its future uncertain, states an online report by Domain.
From dream home to an uncertain future
According to Domain, the two-storey brick house was purchased by a couple in December 2020 for £465,000. With four bedrooms and approximately 126 square metres of living space, it offered the kind of room and potential that could make it a long-term family home.
The owners had plans to modernise the property and make it their own. Those ambitions took a dramatic turn in February 2024, when a major landslip tore through the backyard, sending the garden more than 15 metres down a slope.The outdoor space had previously included a swimming pool, but the collapse left the area severely damaged. What had been part of the property's appeal became the source of a serious and potentially expensive problem, also states the Domain report.
Why nobody can move in
Despite the scale of the incident, the house itself has reportedly shown no signs of structural movement. Work has also been carried out to stabilise the garden, offering some progress towards addressing the damage, claims the online report.However, that has not been enough to make the property habitable again. A No Occupation Order remains in force, meaning nobody can legally live in the house until the outstanding issues are resolved and the necessary restrictions are lifted, states the report too.For prospective buyers, this is the central complication. Purchasing the property would not mean being able to move straight in, rent it out or immediately begin enjoying its four bedrooms and living spaces. The path towards making it usable could involve further investigations, specialist work and considerable expense. The full cost and timeline of resolving the situation remain uncertain, making the property a high-risk proposition despite its extraordinary guide price.
A £1 guide price with a big catch
The owners have now decided to cut their losses and put the house up for auction with BTG Eddisons Property Auctions. It is being offered with a £1 guide price and no reserve, meaning there is no minimum sale price set by the seller. The property still has several attractive features, including a main bedroom with an ensuite bathroom, three additional bedrooms, a family bathroom, multiple reception rooms, a garage and a private driveway.Its location could also appeal to buyers willing to take on a complicated project. Situated on Foxcote, on the northern edge of St Leonards-on-Sea, the house is within a coastal town with transport connections to London and Brighton.
A gamble for the right buyer
The auction is scheduled for October 29, with prospective bidders advised to conduct their own investigations before making an offer. The appeal is obvious that if the landslip-related issues can be resolved, the property could eventually regain considerable value. But the £1 starting point should not be mistaken for the total cost of ownership. For anyone considering a bid, the real questions concern the stability of the land, the requirements for lifting the No Occupation Order and the money needed to complete the necessary work.Image Courtesy: BTG Eddisons Property Auctions