A BLIGHTED Barrow area could soon see significant rejuvenation, according to a property expert who believes low cost housing is the key to fuelling change.

Barrow Island residents have long been determined to shed their community's negative reputation and show the rest of Furness what the area has to offer.

A two-bedroom flat in Schooner Street already set tongues wagging among hopeful first-time buyers and prospective investors when it's £15,000 price tag made the news.

Michael Spencer, Senior Sales negotiator for Springbok Properties, the firm tasked with finding a new owner, said the flat had attracted a lot of interest."

He said: "There's potential in the area because the streets nearby are being renovated.

"It's a great investment area and it is developing- that could be very swift or it could take a lot of time, we don't know at the moment.

Is this Barrow's cheapest property?

"But the space you get for the amount of money is a key factor for a lot of buyers.

"It is just something you would never see in London."

A flurry of investors such as Barros Trading Ltd, the company behind the £12m Maritime Apartments in Ship, Barque, Brig and Sloop street have already demonstrated how quickly change can be brought about.

According to Mr Spencer, the £15,000 price tag should be seen as a starting point for offers claiming the "full potential" of the apartment is around £30,000.

He added: "It has been for sale since beginning of November but due to certain factors we could not arrange any viewings around that time.

"The property is a great first time buy and an ideal investment opportunity.

"There is no maximum age group, we have had all different investors looking into the area, which is definitely going to be seeing lot more investment."

Official viewings started in the middle of January and the property can be found on Zoopla.com.

The property highlights the large number of low cost properties in the borough, a figure brought to light at the last Barrow Borough Council meeting, in which members approved to raise council tax by 2.99 per cent.

It is one of 19,147 Band A properties across the area, compared with the three properties in the borough registered as Band H.

Fresh start pledged for Barrow Island following multi-million pound investment

What do I get for £15,000?

-The accommodation comprises of one reception

-Third Floor Apartment

-One Reception Room

-Kitchen

-Two Bedrooms

-One Bathroom