A HOUSE in Whitehaven is being auctioned with a reserve price of zero.

And auctioneers say that they expect a bidding war, despite the poor state of the property.

Bond Wolfe Auctions are holding their next auction at Aston Villa Football Club on Thursday May 9.

Two of the properties due to be sold are in such a dire condition that they have a reserve price of nil.

One property is a two bedroom terraced house on Irish Street in Whitehaven and the other is in Tyne and Wear.

A spokesman for Bond Wolfe Auctions said: “It is quite rare but not unknown.”

Despite the degradation inside, auctioneers are expecting a bidding war.

They said: “It is a very big carrot to generate interest.”

Bond Wolf Auctions chief executive Gurpreet Bassi said: “It’s highly unusual to start auction lots with reserve prices of nil, but because of one being fire-damaged and the other being derelict we can only offer external viewings.”

Although the nil reserve price means that there is no minimum price, there is a standard auction administration fee, £1,074 plus VAT.

He added: “Each property obviously needs substantial investment to get them back into a liveable state, but for the right investors these could provide two of the best bargains available across the UK in 2019.”

Last week another property in Whitehaven was auctioned off with a reserve of £1.

The office space above Lowther Street was snapped-up in four minutes. Within that time the price climbed from a starting bid of £1,000 to a sale price of £27,000.

The building hosts a Costa Coffee on the ground floor and the upper floors have been empty for some time.

The space extends overall to around 2,770 square feet and was offered with vacant possession on a 999-year lease.