An approximately 800-year-old moated castle in the German town of Bad Duben, Saxony, is being offered for sale for a symbolic price of €1.

Axar.az reports, citing Bild, that Schloss Schnaditz covers around 1,012 square metres and features a knights' hall and two towers. The historic property was once home to the von Zaschnitz family and became associated with Heinrich von Kleist's novella Michael Kohlhaas.

However, the buyer will face substantial costs, with renovations estimated at around €20 million. The building has stood largely vacant for years and requires extensive restoration.

Local officials hope the property can be turned into a hotel, nursing home, training centre or boarding school. Any renovation work will also be subject to heritage protection requirements.