Ambitious council initiative hailed success after ruins converted into stunning family homes
An utterly dilapidated house bought for £1 has undergone an unbelievable transformation and is now being showcased as an example to others.
Streets of Liverpool homes were sold off for just £1 as part of an ambitious council initiative to rejuvenate unloved areas. The houses were derelict throughout, without plumbing, electrics, fixtures or fittings.
Buyers were told to invest their own cash in the properties to complete the renovations, costing a minimum of £40,000. The council could reclaim the houses if the work wasn’t completed within 12 months, without compensating the owners.
After seeing the results, the bold plan has been hailed a success as now scores of dilapidated buildings have been turned into stunning family homes.
The results will be shown on Channel 4’s The £1 Houses: Britain’s Cheapest Street on Valentine’s Day (February 14) at 9pm.
The programme charts the progress made by those involved in the first wave of £1 homes over the past two-and-a-half years.
The £1 homes, which are being released in tranches, are in rundown areas such as Anfield and the Webster Triangle.
Liverpool John Moores University postgraduate student Victoria Brennan, 30, was given a dilapidated two-bedroom house in Wavertree and a £38,000 loan from her parents to cover the costs of restoring it.
She said: “There is a stigma in the city that you have to have so much money in the bank to apply for the scheme. I was lucky.
“The overarching positive was the ability to own a property I could never afford on my own.”
The programme preview states: “Liverpool City Council are selling off derelict houses – for just £1 each.
“But is this the dream scenario that it appears to be?
“The houses on offer haven’t been touched for 10 years, and the buyers must invest their own cash to renovate them, which is at least £40k.
“If the work is not completed within 12 months, the council can take the houses back, with no compensation.”
