As a luxury house in Torquay is sold for a fraction of its worth because of its precarious position on a rapidly eroding cliff, the auctioneer says the buyer has taken quite a risk.
The property's enviable sea views does mean it's relatively close to the cliff edge and other neighbouring properties have experienced substantial subsidence.It’s impossible to say whether Tor Cottage will be subjected to subsidence itself. A buyer could get a return on their investment if Mother Nature is kind to them.
– Graham Penny, Auctioneer
Tor Cottage was sold for £33,500 (including fees) today. Normally it would be worth around £400,000 if it was not for the erosion. The house next door has already collapsed into the sea.
There is an order in place preventing buyers from staying overnight until they can prove it's safe.
A luxury cliff-top house in Torquay whose neighbour has already fallen into the sea, is being auctioned today. Tor Cottage is a four-bedroomed home worth around £400,000. It's in a cul-de-sac, has a balcony and of course great sea views, but isn't expected to reach that at auction
A luxury cliff-top house in Torquay worth £400,000 is being auctioned off for just £25,000 - because it might fall into the sea. The four-bedroomed home is in a cul-de-sac, has a balcony and of course great sea views.
The only trouble is, the property next door has already fallen into the sea. Although Tor Cottage is currently in excellent condition, its fate - courtesy of Mother Nature - is inevitable. Jonathan Gibson reports on a future property crash with a difference.