The canal is leased by British Waterways

The section of the Fossdyke runs from Lincoln to Torksey and was dug by the Romans to provide a link between the Wash and the Humber.

Estate agents Allsop say the canal is one of the oldest in the UK and will probably sell for �125,000 at auction.

The canal links the River Trent to the River Witham and was built in 120 AD by the Romans.

Estate agent Duncan Moir said the canal is ultimately owned by Lincoln City Council, but the rights to run and operate it are being sold to the highest bidder.

The lease on the canal is held by British Waterways and runs for 740 years at a current cost of �9,500 a year.

Mr Moir said: "It is an unusal thing to own - you can walk down the entire 11 miles of it and say: 'This is all mine'."