THIS is one property that, even in credit crunch Britain, can accurately be described as “safe as houses”.

A nuclear bunker, with 2ftthick concrete walls and massive steel doors, is set to go under the hammer with a guide price of £240,000- £260,000 at a public sale by auctioneers Clive Emson.

The site, a redundant Victorian reservoir, was built in countryside near Winchester as a survival pod in the Cold War to withstand a nuclear blast that would wipe out civilisation.

Thirty utilities workers – all handpicked – would have food, clear air and water for up to two months.

After that the intention, under the Government’s nuclear protection plan, was to get essential services up and running across an incinerated south.

Since decommissioning 11 years ago, the underground facility, on the edge of Twyford off Hazeley Road, has played a frontline role in a war of a different kind – the one being waged in cyberspace.

Under lease arrangements, until recently it was a nerve centre for Internet security companies needing to safeguard data.

The unusual lot was put up for auction in February by owner Southern Water, but it was withdrawn for commercial reasons.

Now the hillside facility is back up for sale at Clive Emson’s Hampshire and Isle of Wight auction at the Rose Bowl, near Southampton, on December 16.

Rob Marchant, the Whiteley-based auctioneer, said: “This is not your average property, what with blast-proof fittings, a chute for ejecting people in an emergency, air filters and independent power and water supplies.

“However, it has plenty of potential and can be accurately described as “safe as houses”, which is a rare thing to say considering the current economic climate.”

He added: “The freehold lot with vacant possession is an unusual business opportunity, offering both office and storage facilities.

For example , secure storage of paper data is a pressing problem for a lot of companies.”

Roof leaks are unlikely – the concrete is 2.5 metres thick and reinforced with steel. However the concrete infill steel doors, some six inches thick, may require a lick of paint to make the formidable entrance seem a tad more inviting.

The property does have one conventional feature – parking for up to 18 cars.

Rob said people attending the auction will, appropriately, get a four-minute warning before bidding begins.