This amazing Gothic mansion has a guide price of £1

A historic Scottish property could be yours for a bargain price tag, but it’s not for the faint-hearted

If you’ve ever fantasised about buying a fairy tale country castle, a property being auctioned later this month could make that pipe dream a reality.

Situated in Arbroath on Scotland’s east coast, The Elms is an exquisite two-storey French Gothic-style mansion, however, it's something of an extreme fixer-upper.

READ MORE: Ultimate fixer-uppers – castles, forts and mansions

It’s fair to say that the A-listed property has fallen from grace in recent years and has been on the Buildings at Risk Register since 2001.

Steeped in history

If you can look beyond its current derelict state though, there’s a lot going for this abandoned mansion, including an illustrious past.

Originally built in the late 19th century for a mill-owing family, it was designed by well-known Scottish architect William Leiper. His other works include Templeton’s Carpet Factory and the Dowanhill Church in Glasgow.

The property was later used as a hotel until it was requisitioned by the War Office in World War II. Following this, it became a children’s home, before shutting down in 1991.

Since then it has changed hands several times and although there have been various plans to redevelop the site, the heritage home has gradually fallen into disrepair.

Development potential

Though none of the previous proposals came to fruition, back in 2003 planning permission was granted for the conversion of the property into six flats, as well as the construction of five additional houses on the site.

This consent has since lapsed, but it seems likely that the local council of Angus would be keen to work with the new buyer to restore the building to some semblance of its former glory.

Conversion into flats would be the most obvious option, though given the town’s tourist attractions – think sandy beaches, a pretty harbour and an abbey – turning it back into a hotel could also prove lucrative.

While many of its original features have sadly been stripped out over the years or reduced to ruin, there looks to be scope to restore some of the building's architectural elements, from the stunning Gothic arches to the turreted roof.

The property is up for auction with no reserve and a guide price of just £1. Despite the tiny price tag, at the time of writing online bidding has just passed the £100,000 mark.

Nevertheless, the lucky buyer could still pick up this remarkable home for a relatively small sum, given its grand scale and significant potential. 

There’s also a buyer’s premium payable to the auction house – 1% of the purchase price subject to a minimum of £3,000 plus VAT – while internal viewings aren't possible due to its dilapidated condition.

Fancy taking a chance on this regal renovation project? It’s up for auction with National Property Auction, with bidding closing at 11am on July 17.

READ MORE: How to renovate an old house

All images: National Property Auctions