A small resort in the southern Austrian province of Carinthia is now being sold for just 82 pence.
The local council's holding company KHT had acquired Petzen resort for a very high price, but it is now being sold for a hugely discounted 1 pound fee, the Daily Express reported.
However, Carinthian governor Peter Kaiser said that considering any other option, including allowing it to close, could end up costing up to five times as much than simply selling it for a symbolic amount.
Kaiser added that the resort, which has a total of 26km of runs, along with a snowboard park and a cross-country skiing and skating rink, is a valuable part of the local economy and had to be saved to ensure jobs and tourism are protected.
The low price has been set to attract an investor with plenty of cash to splash on improving the area.
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