A gothic-style mansion called The Elms in Arbroath in Scotland has been put up for auction with a starting price of just £1 ($1.25).
Originally built for the mill-owning Corsar family in the 1850s, The Elms started life as a private mansion before then being converted into a hotel and then an orphanage. It has been lying empty for 17 years before going to auction. The property is listed as having "excellent transport links," with regular train and bus services between Arbroath and Dundee and Aberdeen, as well as other surrounding towns and villages within Angus. The Elms originally had planning permission to be converted into six apartments and five dwelling houses, however, the permission has since expired.
"This property is a massive opportunity for a developer to restore the building to its former glory," said National Property Auctions Managing Director Mandi Cooper in a press release.
"It operated as a hotel until World War II when it was requisitioned by the War Office, before becoming a children's home of the World-Wide Evangelisation Crusade, so as you can see it has lots of interesting history."
"There are schools at primary and secondary levels and major supermarkets all within a reasonably short walking distance of the site," the listing reads.
"This is a rare opportunity for a developer to pick up an A listed building and restore it into its formal glory," Cooper said.
The auction is set to take place on Friday, July 17 at 11 a.m. BST with a guide price of £1 ($1.25), but it's likely the final selling price will be significantly higher.