Lock Cottage in Bettws, Newport, snapped up at auction

Lock Cottage, on the Monmouthshire and Brecon canal, needs plenty of TLC but after renovation could be made into a haven of peace after selling for £134,000.

The two-bedroom property, with rambling gardens, was offered for sale by Newport-based Paul Fosh Auctions with a reduced guide price of £95,000-plus.

Sean Roper, of the auction company, said the quaint and historic cottage, in the Bettws area of Newport, has a magnetic attraction.

The lot attracted a total of 41 bids from five bidders.

Sean said: "The cottage is appealing not just because of its location on the canal but for those looking for a secluded retreat, in a rural location, which is not way out in the sticks.

"The manageable property isn't far from the city of Newport and the M4.

"The cottage, entrance kitchen, bathroom and lounge on the ground floor with interconnection bedrooms above, could also make a very attractive investment for a holiday let or perhaps Airbnb.

"The cottage offers a rare opportunity to acquire a detached property, a secluded retreat, with land adjacent to the Monmouthshire and Brecon canal.

"It has huge potential either for refurbishment of the existing property or re development, subject to necessary planning consents. It has been stripped by the current owner and is ready for improvement.

"The canal offers amazing walks or cycling opportunities for those who enjoy outdoor pursuits but is also convenient for access to both amenities, Newport city centre and the M4 motorway.

"We often find that the more unusual, quirky properties, go well at our auctions and this is certainly no exception with bidder interest already keen, ahead of the online auction."

A previous planning application for the property was refused and a new, scaled back proposal, has been submitted to the local planning authority.