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Canal-side chaos cottage sells for double guide

The Negotiator
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Merthyr Tdyfil theatre

 

Over 150 bidders saw through the chaos and TLC needed for a canal-side cottage in the February Paul Fosh Auction.

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Lock cottage, Monmouthshire

Although run down and in a poor state of repair, the tranquil setting and rambling gardens caused a bidding war, eventually selling for more than double the £75,000+ guide price at £158,000. Lock Cottage, on the Monmouthshire and Brecon canal, has an entrance, kitchen, bathroom and lounge on the ground floor and two interconnecting bedrooms.

Sean Roper, of Paul Fosh Auctions, said: “The cottage was appealing not just because of its location on the canal but for those looking for a secluded retreat, in a rural location, which is not way out in the sticks. The manageable property isn’t far from the city of Newport and the M4.”

Taking centre stage at the Newport-based firm’s March auction is a former Merthyr Tydfil theatre, cinema and later bingo hall, offered for sale with a nil reserve. The grade II former Theatre Royal and Opera House, dating back to the 1890s finally went dark after the turn of the century and is now in desperate need of a new owner with large pockets. The property is huge, at one point having had a 22x28ft stage served by six dressing rooms and could seat 1,500.

Debra Bisley, of Paul Fosh, said, “The property is more than likely to be of interest to local investors although we’ve had enquiries from London investors hoping to return it beck to a theatre and opera house.”

March 8, 2022

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