A two-bedroom apartment in Penzance is on sale for just £1.

In need of refurbishment and modernisation, the Harbour light flat on Alverton Terrace in the market town could make an ideal home or holiday let.

Sean Roper, of South Wales based Paul Fosh Auctions, said: “This apartment, in gorgeous Penzance, clearly needs significant improvement and modernisation but once that has been completed it will make a fabulous home. Alternatively the flat could be an investment property for the right buyer.

“Once refurbished and fully furnished a new owner could holiday let the property on sites such as Airbnb or booking.com as thousands of tourists from across the world visit Cornwall and the historic town of Penzance each year.

“If rented out as a serviced apartment for holiday lets it could generate approximately £32,000 per annum, once the apartment has been refurbished.”

The next Paul Fosh Auctions starts at 12 noon on Tuesday, November 11 and ends at 5pm on Thursday, November 13.

For further details, visit: paulfosh.eigonlineauctions.com/lot/details/163204