A three bedroom house in Middlesbrough that went on the market for just £1 has been sold for nearly 20,000 times the original price.

The house in South Terrace, Newcastle, has an uninviting exterior, with smashed in windows and a garden filled with junk and weeds, but it sold this week at auction for £19,125.

It was billed by Agents Property Auction as “in need of a full refurbishment and modernisation,” but that once it had been seen to it “should generate income in the region of £4,440 per annum”.

The property agents expected the house to appeal to a property developer and buy-to-let investor, despite the house currently appearing in a state of disrepair, with missing floorboards and ripped up carpets, peeling walls and ripped-out, broken furniture strewn throughout the interior.