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Thanks Matt, Looks like it would be an interesting renovation to get stuck into. The rewards would be huge. It's a shame I don't have the time or the money (or the experience) at the moment. If anyone takes on this project it would be interesting to be kept up to date on the reno's...

Could you provide more details on what sort of TLC is actually needed? Did the building inspection uncover any nasties? What sort of timeframe are you looking at selling? Cheers V