House with lowest possible EPC rating sells at auction
A property has sold at auction for £60,000 despite having an energy efficiency rating of just one out of a possible 100.
The terraced house in Grantham, Lincolnshire was put into auction by East Midlands-based Newton Fallowell estate agency, with a guide price of between £45,000 and £55,000 and was marked at one for both its current and potential energy efficiency ratings.
Mark Newton, chief executive of Newton Fallowell, says: "My valuer says that from the bedroom, you can see the sky through a hole in the roof. But what surprised me most about the EPC is that the potential rating suggests that whatever you do to it, you can't make it better."
Newton says that terraced houses in the area would normally be worth £100,000, and estimated that it would cost £30,000 to renovate the property in question, which, although has double-glazed windows, has solid brick walls with no insulation or heating system.
Paul Sailes, a Domestic Energy Assessor from Hip-Consultant.co.uk, says: "Believe it or not, that [the hole] wouldn't affect the [energy] rating. We're not looking at the condition of a property, so we wouldn't take into consideration a gaping hole in the roof.
He adds: "I have done some EPCs at a one [rating] with a potential to be a one, but these are few and far between."