A bargain home is set to go under the hammer next week.

The house, in Main Street, Distington, has been slapped with a rare nil reserve price ahead of Bond Wolfe Auctions’ next sale in Birmingham next Wednesday.

The two-bedroom property, which includes a rear garden, has a starting prize of zero because it is currently vacant and needs renovation, although a neighbouring property sold for £55,000 in 2012.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “It’s highly unusual to start auction lots with a reserve price of nil and we’re expecting intense interest in this property on July 3.

“The house has been given a rock-bottom reserve price because it is in need of some serious work, although a new owner could quickly create a decent place to live in or rent out.”

Mr Bassi explained that prospective owners would still have to pay an administration fee of £1,074 including VAT for each property.

He added that some auction properties can have further costs and that it was always recommended that potential purchasers read the legal pack.

The Workington property is just one of 120 lots in the auction at Villa Park.

Bond Wolfe Auctions only launched in January but has already been instructed on 350 properties this year, and this will be its third auction in a row to offer more than 100 lots.