A severely fire damaged terraced house in Gwent which was for sale with a nil reserve made more than £50,000 at auction.

Despite the substantial three-storey building in Tredegar being in a very sorry state of repair, this did not put off potential buyers during the Paul Fosh Auctions online sale.

Sean Roper, of Newport-based Paul Fosh Auctions, said interest ahead of the auction had been red hot with news of £0 reserve sale spreading across the globe.

(Image: Paul Fosh Auctions) Sean said: “The state of the house and the price really seemed to grab people’s imagination. We had interest in the lot from all over the place and bids placed as soon as the auction went live.

“The presale interest was converted to online bids with a total of 15 individuals lodging a staggering 136 bids in an effort to land the challenging property.

“In the end the property went for £50,250. Once done up this building, with its sweeping valleys views, could make an ideal large family home or, subject to planning, could be split into flats or be made into HMO.

“Although severely damaged in the fire and partially stripped out, the building, which was sold with vacant possession, appears to offer three rooms on the ground floor. There are a further four rooms on the first floor with three to four rooms on the lower ground floor with a bathroom area. The property has a rear garden and is served with a lane access.

(Image: Paul Fosh Auctions) The terraced house, at 7 Jubilee Road, New Tredegar. was among about 90 properties sold online during the Paul Fosh Auctions as part of its October sale.