A derelict home sold to a taxi driver for £1 could fetch £125,000 on the market, according to Venmore estate agency in Liverpool.
The four bedroom house in the troubled suburb of Toxteth - scene of widespread rioting in the 1980s and still regarded as one of the poorest parts of the city - was sold to driver Jayalal Madde as part of a radical council scheme aimed at trying to improve the area.
The house is now nearing completion and the Liverpool Echo newspaper asked Joanna Hudson, manager of Venmore estate agents, to undertake an appraisal.
After an extensive tour she described the refurbished property as a fabulous family home and said she imagined it would attract a great deal of interest the paper says.
I would have an estimate valuation for this property at £125,000, in its existing condition, based on the fact that the road is still looking to be finished and developed. But, when the property and the road is completely finished I would value it at £150,000 she says.
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