Lanarkshire flat priced at £1 bought for £20,000

Lanarkshire flat priced at £1 bought for £20,000

A home in Lanarkshire advertised for just £1 by Auction House Scotland, has been bought by an American living in Texas.

Computer programmer Ivan Cameron said he intended to hold a "Texas barbeque" to celebrate buying the run-down three-bedroom flat near Airdrie.

The top floor flat at Dervaig Gardens was described by the auction house as:

The property is comprised of entrance hallway, lounge, kitchen, vestibule, three bedrooms and family bathroom. There is also a shared balcony that can be accessed via the kitchen. The property requires significant upgrading throughout but offers huge potential for development.

Mr Cameron, 40, revealed he got up early in Houston - six hours behind UK time - to take part by phone in the sale by Auction House Scotland, with the hammer going down at £20,000.

He said after his success: "I'm going to have a Texas barbecue tonight to celebrate.

"I read about the flat being offered for £1 on an internet news site, Yahoo!

"I knew it would never sell for just £1 but I have always wanted a property in Scotland and now I have one."

Mr Cameron said he planned to travel to Scotland to inspect his new investment, which will either be used as a holiday home or rented out.

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