A “DREAM house” built by Kellogg’s as a competition prize in 1963 has hit the market for over 80 times its original value.
The property in Cleethorpes, Lincolnshire was specially designed for Women magazine and given away by the cereal company in the 60s, when it was valued at £5,000.
Since then, the property’s price tag has skyrocketed, and upon being listed for sale last Monday, its value now sits at a whopping £420,000.
This means the house in the coastal town has gone up more than 80 times its original value since being given away by Kellogg’s – despite the Bank of England’s official inflation calculator working out that £5,000 back then would be worth just over £88,000 now.
The property is up for sale for the first time since it was first given away to the competition winner, with the price increase meaning the seller looks set to make nothing but six figures of pure profit.
Listed by Roost Estate Agents, the detached home boasts four bedrooms, two bathrooms, two reception rooms, a modern fitted kitchen and utility room, and a large garden.
Roost Estate Agents describe the property as: “A fantastic opportunity to purchase this generously sized, four-bedroom detached property within the heart of the sought after seaside resort of Cleethorpes.
“Offered to the market with no onward chain and boasting a generously sized plot, viewing comes highly recommended to fully appreciate all that is on offer with this wonderful home.
“Benefiting from side and rear extensions, as well as having a 21ft garden/studio room, and a detached triple garage – this really is a rare find and provides a wonderful opportunity for any lucky purchaser.
“Briefly comprising of a bright and welcoming entrance hall with stairs leading to the first floor and ground floor shower room, 26ft living room, separate large dining/second living room, modern fitted kitchen/diner, utility room, pantry/post room and large ground floor bedroom.
“To the first floor there are a further three bedrooms, with the main bedroom benefiting from a large balcony, as well as a three-piece family bathroom suite.”
House-hunters recognised the specially designed cereal giveaway house after it was listed for sale and took to social media in disbelief at the price of te property.
In a post to social media yesterday, one astonished Brit wrote: “Kellogg’s 1963 ‘£5000 dream house’ competition prize up for sale.
“This place was built/given away as a Kellogg’s competition prize back in 1963.
“Up for sale for the first time. Valued at £5k then, now on at £420k. It’s really lovely and spacious.”
The social media post received over 120 likes and more than 65 comments from social media users stunned by the unique house.
One user said: “That is lovely. Very much of its time, but it’s almost refreshing to see it doesn’t have grey walls and a marble kitchen.
“The garden is also really nice. I can only imagine how lovely this was for the winners when they first moved in.”
Another wrote: “Sad thing is that even at £420k it seems cheap for my area, with 4 bedrooms and that ace garden space.”
A third replied: “So they really did give them away with breakfast cereals.”
Another commented: “It’s been kept up so nicely. Really lovely.”
A fifth pointed out the discrepancy in valuation, adding: “According to the Bank of England, adjusted for inflation. £5,000 is now worth £88,683.”
