Prince Charles is selling off 45 acres of unspoilt countryside for just £40,000 – complete with a listed engine house, coastal views, and even a private waterfall.

The former slate quarry in the breathtaking Trebarwith Valley, in Cornwall, is popular with walkers and houses an engine house used to haul slate and pump water until 1890.

But the Duchy of Cornwall estate is auctioning off the beauty spot simply because it is too far from Prince Charles’ other land.

The site, in a registered area of outstanding natural beauty, will go up for auction on September 18, with a guide price of between £40,000 to £50,000.

Katie Semmens, of Clive Emson auctioneers, believes the bargain plot could be developed into a stunning new home.

She said: “This is a glorious spot for not a lot of money. We’ve had calls from some very interested parties.

“Plots with a real Royal wow factor don’t come up every day. This could make a lovely home for the right person.”

A Duchy spokeswoman said: “This land is nowhere near any other Duchy land – it doesn’t fit – and has been leased to the council since 2011.

“The engine house is a listed building so any change of use or development will need permission but we have made a recommendation that it would still be a public right of way.”

But locals reckon the land will struggle to sell – and want it to remain open to the public.

Dog walker John Brooks, who lives just two miles from the site, said: “I would be amazed if anyone wanted to develop this land or even live in the engine house.

“It’s a ten-minute walk up a mountain from the nearest car park.

“But I suppose it might appeal to someone with a Grand Designs mentality and very deep pockets.

“It would be very sad if the community lost access. It’s a lovely spot.”