Glasgow & West Scotland

Upperton flat priced at £1 bought for £20,000

Dervaig Gardens flat Image copyright Auction House Scotland
Image caption The flat required "significant upgrading", according to the auctioneers

A home in Lanarkshire advertised for just £1 has been bought by an American living in Texas in an auction.

Computer programmer Ivan Cameron said he intended to hold a "Texas barbeque" to celebrate buying the run-down three-bedroom flat near Airdrie.

Pictures of the property in the Upperton area, published online before the auction, showed a collapsed ceiling and ripped-out kitchen.

The top floor flat at Dervaig Gardens sold for £20,000.

According to the Office for National Statistics, the average cost of a house in Scotland is now £193,000.

Mr Cameron, 40, revealed he got up early in Houston - six hours behind UK time - to take part by phone in the sale by Auction House Scotland.

He said after his success: "I'm going to have a Texas barbecue tonight to celebrate.

"I read about the flat being offered for £1 on an internet news site, Yahoo!

"I knew it would never sell for just £1 but I have always wanted a property in Scotland and now I have one."

Image copyright Auction House Scotland
Image copyright Auction House Scotland

The auctioneers described Wednesday's Lot 41 as an "exceptional opportunity" to buy a three-bedroom flat, complete with lounge, kitchen, hallway, vestibule and family bathroom.

It added: "There is also a shared balcony that can be accessed via the kitchen.

"The property requires significant upgrading throughout but offers huge potential for development.

"On completion of works, this fantastic opportunity would be an ideal buy-to-let investment, offering an outstanding potential rental yield."

Photographs posted online showed potential buyers the full the scale of the task before them.

Mr Cameron said he planned to travel to Scotland to inspect his new investment, which will either be used as a holiday home or rented out.

The 40-year-old US national added: "I can't wait to come over and do it up."

Image copyright Auction House Scotland

Auctioneer Colin West reported "significant interest" in the flat.

He said:"There were six bids on the telephone before we started. The £1 price tag obviously caught the imagination and generated a lot of interest in the property.

"You could see there was also a lot of interest in the hall."

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