A WHITEHAVEN town centre building which could have sold for £1 was bagged in under four minutes when it went under the hammer.

The upper floors of 34 Lowther Street were auctioned off last week at Carlisle Racecourse with a disclosed reserve of £1. In the end the building, which has previously been used as office space, sold for £27,000.

Auctioneer Colin West led the bidding, which started at £1,000. In just one minute it had reached a price-tag of £15,000 and two minutes later the building was sold.

The building hosts a Costa Coffee on the ground floor and the upper floors have been empty for some time.

The space extends overall to around 2,770 square feet and was offered with vacant possession on a 999-year lease with a peppercorn ground rent.

It is not known who purchased the building and what the new owners have planned for it.

Before the auction, Mr West said: “It may suit a residential development but you’d need planning permission.”