A derelict property in Douglas which has been a nightmare neighbour for more than a decade has been sold at public auction.

Number 33 Princes Street went under the hammer on the instruction of the Coroner over debts of more than £40,000 owed to Douglas Borough Council.

Some 20 would-be buyers inspected the eyesore three-storey terraced home before the auction got under way last Friday.

A sign at the foot of the stairs warning ‘enter at your own risk’ gave an early indication of the condition of the property.

Those who ventured inside found crumbling plaster, cavernous holes in ceilings, peeling wallpaper and bedrooms piled high with ancient bedsteads and other furniture from another era.

A Yamaha motorbike in the living room was not part of the sale. A second motorbike was only found in the basement after the auction ended.

Deanwood managing director David Dean began the auction by reading out the conditions of sale and asking for an opening bid of £35,000. He described the property, with some under-statement, as having a ‘good location but work required’.

Following a swift bidding war involving three or four hopeful buyers, the hammer came down on a winning bid of £64,000.

The delighted new owner, who preferred not to give her name, said she was ‘totally pleased’ with the price she had paid.

She said: ‘It’s going to be a project to turn this place round. It’s going to take two to three years. After that I might sell it on or rent it out.’

The buyer said she had been ‘very nervous’ during the auction but also found it great fun.

Coroner of Glenfaba and Michael Stuart Gardner said: ‘I’m glad to see that this place is no longer going to be a problem for local residents and will be a benefit for the community.’

The public auction took place following a high court hearing in October when the Coroner was granted vacant possession.

A warrant had been executed by the high court in favour of the Mayor, Aldermen and Burgesses of Douglas Borough against the building’s owner KBS Ltd over debts totalling £40,539.71.

Number 33 Princes Street has had something of a chequered recent history.

It had been empty for many years. Neighbours had long complained about its ruinous state and Douglas Council had made a number of attempts to force the owner to carry out repairs.

The Examiner revealed back in 2018 that a legal loophole had been exploited to prevent the local authority taking legal action against KBS Ltd.

Mark Kermode, chairman of Manx nationalist party Mec Vannin and then sole director of KBS Ltd, had sold the house to a family member for £1 only to buy it back again less than three months later.

In 2018, Douglas Council footed the bill for demolition of an outhouse and the bricking up of windows and doors at the rear of the property.

Those who attended the auction were told there were outstanding rates of £2,674.54. Any surplus after payment of the executions of £40,539.71 will go towards the paying of the outstanding rates.