THIS two bedroom terraced house- with a live-in tenant- could be yours for the price of a £5 ticket.

The house in Shildon, County Durham, is up for grabs in a prize draw which organisers think will appeal to people looking to get a foot on the housing ladder or as a potential earner.

Valued at around £42,000 the property is in Walter Street, just a stone’s throw from the convenience of town centre amenities such as shops and schools along with Locomotion: the National Railway Museum at Shildon.

Loading article content

The house is currently owned by property developer Howard Rose, who appeared on the BBC show Homes Under the Hammer in 2014 after he bought it.

After a quick spruce up he put it up for rent and has had a sitting tenant in ever since.

Now he and business partner Tanya McCuaig are offering to give it- or £30,000 and a new car- to the winner of a new online competition which launches on Friday.

With a maximum of 20,000 tickets available, Mrs McCuaig said the contest ‘offers high value prizes at low odds’.

“Millions of people enter the big competitions on Daybreak or X Factor but the chances of winning are tiny, we’re offering a much more realistic chance to win a home or the chance to become a property developer,,” she said.

When the episode of Homes Under the Hammer first aired in September 2014 the house was valued at £52,000 so Mr Rose believes it could reap dividends for the winner to keep hold of it long-term and said the conditions of the competition will protect the current tenant’s rights.

He said: “Very little needed to be done to it and I got a tenant who has been there ever since, she remains in place and is aware of the competition and it isn’t an issue.

“As a businessman I see it as an opportunity to become a landlord, for someone to top up their income or pension, and it has the potential to increase in value.

“If they think they’d actually like to move in and make it their own home, they cannot kick out my tenant, that isn’t within the confines of the law.

“There isn’t a huge shortage of housing in Shildon so she could find another rental house or if she wanted to relocate I could help, if it came to it.

"A lot of people might prefer the money and new car, it will be up to them.”

A proportion of the income from ticket sales will be donated to charity, with entrants able to nominate local good causes when they buy their ticket at hmvcompetitions.co.uk

Mr Rose and Mrs McCuaig are confident the contest will be a hit but if they only sell half as many tickets as they expect to then they may have to offer a proportionally lower-value cash prize.