(Image: Pattinson Estate Agents)
A Teesside home is up for auction with a price that's cheaper than a family holiday.
The top-floor apartment in Stockton has been listed for sale via online auction - marketed as an opportunity for investors, developers or buyers looking for a refurbishment project.
At just £5,000, the flat is listed for less than many families spend on a two-week summer holiday abroad; typically a week abroad costs between £3,000 and £4,000 during the school summer break.
The Teesside property presents new homeowners with the chance to get on the property ladder for the price of a getaway.
The home is a five-minute walk from a local Lidl store, and a 10-minute walk from an Aldi supermarket.
There is also a park nearby, and it is not far from entertainment spots by the River Tees.
According to the listing by Pattinson Estate Agents, the leasehold property is being sold as seen and will require refurbishment throughout.
While the flat will need to go under the hammer to make the space habitable, it comes with a lease with around 995 years remaining - a significant benefit for prospective buyers.
The current annual service charge and ground rent come to around £400, with both already paid for the current year.
Auctioneers say the flat could appeal to investors seeking a rental opportunity, developers looking for a project, or buyers hoping to transform the property into a home.
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Anyone interested is advised to do research on leasehold properties and potential renovation costs before placing a bid.
Ground rent and service charges are mandatory ongoing fees that come with buying a leasehold flat - even one with a 995-year lease.
As potential buyers would not own the building's physical structure or the land it sits on, these costs cover their share of building maintenance, insurance, and communal upkeep.
Low-cost auction properties often attract significant attention from bargain hunters and property investors, particularly when they offer scope for improvement and long lease lengths.