A FLAT in the shadow of Rangers’ stadium is thought to be the cheapest currently on offer anywhere in the UK – with a “guide price” of £10,000.
The one-bedroom ground floor apartment in Glasgow is for sale at auction on Thursday and could go for four figures.
The property is a dream for Rangers fans as it is in Ibrox Street, minutes away from the turnstiles.
The £10,000 guide price is half the cost of a brand new VW Golf, and less than a twentieth of the cost of the average British home, which stands at £217,000.
And although it needs some doing-up, experts reckon the flat has a potential rental yield of £375 per month, meaning a buyer could make a profit from their investment in just over two years.
Yesterday (Tue) a one bedroom flat on the Isle Of Bute was listed for auction at a guide price of £10,000 – £15,000 by Auction House Scotland, but at a guide price of £10,000, the Ibrox Street flat could be cheaper.
The interior of the home comprises an entrance hallway, bedroom, living room/kitchen and shower room with toilet.
The property is currently listed on the website of Wilsons Auctions Ltd, and will go under the hammer on Thursday.
Images show that the property is fairly bare, with wooden floors and a lack of kitchen units.
But the brochure for the flat states: “Invest in this one bedroom flat for a jaw dropping potential rental yield of 45%.
“A great project for any property developer, this property requires some TLC and is the perfect project.
“Fantastic rental potential of £375 PCM this flat is ideally located for the city’s amenities as it is within walking distance of Ibrox Asda superstore, is close to the M8 motorway with links to Glasgow International airport and is surrounded by train and bus links to Glasgow city centre.
“These links make this location the perfect rental area for Glasgow’s young professionals commuting within the city.”