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00:01Hello and welcome to the show now. Are you thinking of buying at auction?
00:05Maybe starting a property portfolio and sit right there.
00:08You might be inspired by some of the stories on today's Homes in the Hammer.
00:30You can buy flats, fields, terraces, cottages all at auction. Let's find out what today's bidders actually went for.
00:50We start in Derby where I find a rather unusual layout.
00:54This is kind of odd. I'm not sure how you're going to use it and what you'd use it for.
00:59Tommy's in London where the space also needs a rethink.
01:02Well it's a bit tight. So what needs to happen is everything ripped out and redesigned.
01:09And I finish things off in Leeds with something different.
01:12Today I'm not here to see a house or a flat. I am here to see this.
01:20All these properties have been sold at auction. We'll find out who bought them and what they paid for them when they went under the hammer.
01:27£35,000. Sold.
01:33We are off to Darley Abbey, a popular village just north of Derby's city centre.
01:39It boasts a mix of residential homes and plenty of local amenities. Today I've found a hidden gem which is sure to be in very high demand.
01:51The property I'm here to see, while they don't come up very often, not when they're detached, on a corner plot, we have got a bungalow.
02:00Two beds went to auction with a guide price of £160,000. Off street parking, garage, wraparound garden. That's a good start.
02:10People like me don't come around every day. I'm unique.
02:15Demand for bungalows like this has kept prices climbing in recent years.
02:20Once thought of as homes for the older generation, they are now a golden opportunity for buyers of all kinds.
02:26Right. There you are. Feels pretty spacious in here, you know, as soon as you come in.
02:33We have got a bit of storage space there with your meters. Lounge, hallway to the kitchen. Let's go lounge.
02:41And it is a good size as well. It really is. And it's very bright. Lots of natural light coming in because of that huge window there.
02:51You've got a fireplace there, which would have been done in the sort of late 70s, 80s, and it would have been very cool back then.
02:58Not so cool now, to be fair. So either put a new one in or take it out to create a bit more space.
03:02But I like how big the lounge is and what you could potentially do with it. Connected to, I can see the kitchen and that posse was the dining room.
03:12And there's more this way. Right, we've got three rooms back here. You've got big bedroom, not so big bedroom, and you've got family bathroom.
03:21This larger bedroom, double bed in there. You've got some furniture, which needs to come out on a carpet.
03:27But if you put everything brand new in that bedroom, I think you're going to be off and running.
03:31I'm trying to find damp in the corners or mould, and I can't find anything at the moment.
03:37Smaller bedroom, similar thing. The floor is exposed. You might be able to polish them up, maybe, or carpet in your bedroom.
03:45You might prefer. Again, decoration in there, and then you're done.
03:49Family bathroom looks in working order, looks fine. It's a bit dated like the rest of this bungalow, but I like the way it's set up.
03:58Configuration works. And I think, from what I can see, this is a full cosmetic refurb.
04:05And that extends to the kitchen, with its 60s feel.
04:14This kitchen is due for an upgrade, electrics and plumbing included.
04:19It's not the biggest space, so knocking food to the dining room could be an option.
04:26But let's not get ahead of ourselves, as there are other ways to make it work.
04:30OK.
04:35Wow, that's possibly the smallest pantry I've ever seen.
04:39Then you come down a couple of steps into this kind of outside area here, sort of lean-to, sort of roof and the brick-built walls.
04:46This is kind of odd, to be fair. This area here just seems a bit of a waste of space, because I'm not sure how you're going to use it and what you'd use it for.
04:56This part here, I'd be inclined to put a wall here and then knock all this down and have a big square kitchen, diner, utility room, maybe another toilet downstairs.
05:07That would give you so much space.
05:18This bungalow ticks plenty of boxes as an investment or as someone's home.
05:24Sure, it needs a full refurb, but it's solid with plenty of space inside and out the front.
05:31And let's not forget around the back.
05:33Right, what's outside got to offer then?
05:38Well, as soon as you come out, you've got the back of the garage and it's a brick-built garage and it looks pretty sturdy, looks in good condition.
05:46And then you've got this little wooden sort of shack there, mind the roses.
05:50Bit of a paving here as well.
05:54This is your back garden, as I fight through all the weeds.
05:57This is your back garden. It's not huge. It's overgrown. That needs to be sorted.
06:04But as I look back at this bungalow, I'm thinking to myself, there's a reason to think maybe a single storey extension.
06:14Imagine that, the width of the bungalow. If you're going to live in it, that is, and you've got the budget and it's going to be your home, I think it would be money well spent.
06:21Single storey extension, three metres out, nice and neat, make everything inside a little bit bigger.
06:29It's going to cost you a few quid, but it's going to be your home.
06:32If you're going to rent it or you're going to sell it, maybe not the correct option for you, maybe the smaller option.
06:38But it all depends on budgets.
06:44We have a desirable two bed corner plot with space to work with.
06:49But with a guide price of £160,000, what's the verdict on its potential?
06:55Time to hear from a local estate agent.
06:58Within the area that this property falls, we get a mix of different houses.
07:01So we've got your bungalows, your houses, most of them are only occupied.
07:06And with it, you tend to find that it is a nicer area.
07:09The property itself, I would say, needs an extensive amount of work doing to it.
07:13So I would personally say it needs top to bottom, fit out and refurb.
07:18But once it's done, the style of the property would be very sought after in this location.
07:23And depending on the spec of the finish, it would be one that I wouldn't think would sit around on the market too long.
07:28The agent thinks an extension could be a good addition, but it's not essential.
07:35Instead, they'd prioritise a high-end finish to attract buyers.
07:40So if it were a simple renovation, what could it be worth?
07:44My sales valuation would be somewhere in the region of £350,000.
07:49And for those thinking long-term, what kind of rental income could it bring in?
07:54Once the property has been renovated, I would expect to achieve somewhere in the region of £1,000 per calendar month.
08:02I think this is a good-sized bungalow in a good area.
08:07Wrap-around garden, garage, driveway. I think it's got everything you need.
08:13Configuration works as it is. You don't have to extend it.
08:15If you've got the budget, it would work. But that's all down to personal taste.
08:21I like this project. Let's find out who else did when it went under the hammer.
08:25This lot was part of an auction with bids taking place in the room and online.
08:34£1,000. Sold.
08:38At £202,000, the hammer fell for Sam.
08:41No stranger to the property game, he's tackled a few properties in Derby, including one nearby.
08:48So this is familiar territory.
08:51With all these things that I've done...
08:56I met up with him to find out his plans for this two-bed bungalow.
09:01Sam, nice to meet you.
09:05Hi, Dion. Good to meet you.
09:07Excited? Yes, yeah.
09:09I like this.
09:11Absolutely, but I think it's cool. I really do.
09:13What was it about this that attracted you to get it?
09:16You know, I live locally. I sort of like these style bungalows.
09:21You can usually adapt the layout for what you need without extensions and stuff.
09:26So, yeah, they're good properties.
09:28We'll start... Let's start outside.
09:31Driveway, garden, anything changing?
09:33Yeah, so we definitely need to double up the parking.
09:36Okay. Bigger driveway.
09:38Get rid of the porch that's there.
09:40Probably render the front white, you know, monocouche or something like that.
09:44And then we'll put in planning for a six-foot fence.
09:47If we get it, make these doors patio doors or French doors.
09:51Just do some nice steps.
09:53Sort out the turf and then, you know, whoever buys it will take it further.
09:56Yeah.
09:57But we'll just create the space.
09:59So, doubling up the space to park.
10:01Yes.
10:02And the wall you've got there is going to be a fence.
10:04So, it's now going to be sort of enclosed and private?
10:06Yes.
10:07Oh, wow. That'll give you loads of garden.
10:09Yeah. Which is the idea.
10:11The front garden's big.
10:12What a great idea.
10:13Yeah.
10:14I didn't think of that one.
10:16Yeah.
10:17That's staying.
10:18That's got a new roof on it.
10:19So, that's great as is.
10:20We'll put some electrics in there, get some decent lighting.
10:24That's a great idea. I like that.
10:25Yeah.
10:26So, the bungalow itself, what's changing layout-wise?
10:29Chimney breast is going to go.
10:30Okay.
10:31Chimney throughout.
10:32It's just too big.
10:33Okay.
10:34We're going to get rid of it.
10:35Okay.
10:36But there's a bit of a criteria, you know, buyers want.
10:39So, we'll create an en suite on the main bedroom.
10:41Okay.
10:42Do the new bathroom.
10:44Probably a wet room, shower room in there.
10:46So, walk-in, no shower tray, level access.
10:49In the kitchen diner, we'll probably take the wall down between the kitchen and the diner.
10:54Okay.
10:55Make that a big kitchen diner.
10:56Yeah.
10:57But won't open it out onto the lounge.
10:59We tend to like it here where the dining kitchen area is still separate from the lounge.
11:04Wow.
11:05Yeah.
11:06I mean, the kitchen diner is a great idea.
11:07It's going to be...
11:08Yeah.
11:09It's going to be big enough as well, isn't it?
11:10Yeah.
11:11That bit of space there.
11:12Well, that'll have another set of patio doors.
11:14Oh.
11:15Because that window will get cut down into doors.
11:17Okay.
11:18So, that takes me into the sort of lean-to bit you've got then.
11:21Yes.
11:22Is that staying or going?
11:23No.
11:24Or goes.
11:25Yeah, that's all going to go the lean-to.
11:26It's just to get it to a standard that is better, usable.
11:30The windows are rotten.
11:31So, by the time we do that, to be honest with you, if we utilise the garage as more storage
11:37space, we'll put a nice patio out there, new doors, and then they've got two big gardens
11:43and follow the sun, really.
11:44Sun there, sun there.
11:45Yeah, that's a good idea.
11:46That's a good idea.
11:47So, who does the work?
11:48Is it all you?
11:49Not all me.
11:50I'm a plumber by trade.
11:52Business partner's electrician.
11:54So...
11:55Another box ticked, eh?
11:56Plumber.
11:57Electrician.
11:58What's his name?
11:59Tom.
12:00Tom?
12:01Yeah.
12:02We always tend to do the strip out.
12:03It gives us a chance to assess how bad things might be.
12:06What, you know, stuff that we haven't seen that needs repair.
12:09So, we'll do a lot of that ourselves.
12:11We'll do it all, really.
12:12And then, we'll just get subcontractors in.
12:14Gotcha.
12:15So, plasterers will ball them plaster.
12:17Yeah.
12:18Things like carpenters will do the door linings, doors, skirts, architraves, and the kitchen.
12:22Window fitter will do all the windows.
12:24How much is all that going to cost you, then?
12:26I think our budget could be about 60,000.
12:28Okay.
12:29Nice one.
12:30Something like that.
12:31Yeah.
12:32To achieve what we want.
12:33How long will it take to do it, then?
12:34Four months.
12:35Really?
12:36That's a good time, innit?
12:37Yeah.
12:38So, you know, once we strip out the key box on the wall, people can come and go as they
12:42please.
12:43Is this going on the rental market or the buyer's market?
12:45We'll sell.
12:46We have bought and sold the other side of the area.
12:50Okay.
12:51Done exactly the same thing, and sold at 350.
12:54That's good money, then.
12:56It is.
12:57Really good money.
12:58It is, yeah.
12:59You've got to do it right.
13:00Just the way to do it.
13:01But you're doing it right, and you're doing it right for the people as well.
13:03So, listen, good luck.
13:05You've ticked all my boxes.
13:07You're smashing it, mate.
13:08Good luck to you and Tom.
13:10You'll get it right.
13:11Thank you, Dion.
13:12So, Sam is a man that has a plan, and you know what?
13:16I think he can.
13:18His ideas are brilliant.
13:19He's doing a lot of the work himself, along with Tom, and I think this place is going
13:23to be brilliant when it's finished.
13:26Sit tight, and you'll find out how they get on later in the program.
13:29Tommy's off to Collierswood in London, and despite having the same postcode as Wimbledon,
13:39this area falls a little under the radar.
13:41As such, property prices tend to be a little bit more affordable than its well-known neighbor.
13:54This residential street is just a five-minute walk from the tube station, and there's an
14:01abundance of shops and amenities all around the place.
14:05Everything you could possibly need is to hand.
14:07Now, the property I'm here to look at is a first-floor, two-bedroom conversion at a
14:14guide price of £275,000.
14:16It's a shame about the Pebble Dash.
14:19Still, you can't always get everything you want.
14:21So, let's take a look inside and see what you're going to get for your money.
14:25This leasehold flat may not be the prettiest, but you know what they say, never judge a book by its cover.
14:34It's quite steep staircases, actually, to get you up here.
14:38Right, bathroom.
14:40Avocado bathroom suite, and lime green walls.
14:44Some are like their colour in here.
14:47That's making use of the space over the staircase for more storage, more storage there.
14:56That's a nice-sized double bedroom.
14:59And this is an even nicer-sized double bedroom.
15:01It's huge.
15:02I like the fact it's got three windows, lots of natural light, big windows, lots of natural light coming in.
15:09And looking up, that ceiling, that paper on there, that's polystyrene on a roll.
15:15Now, that'll have to come off because that's a fire hazard.
15:17That's dangerous.
15:18You'll probably take this fire-surround out because there's no need for it.
15:22Bury all the cables in the wall.
15:24Blaster that back up.
15:26And it might even be worse.
15:28Changing the carpet for something a tad more subtle than bright orange.
15:34This must be what they refer to in the auction catalogue as the open-plan living area.
15:46So, it's the kitchen, diner and living space all in this one room.
15:51Well, it's a bit tight.
15:53So, what needs to happen is everything ripped out and redesigned.
15:57So, you've got wall cupboards that go all the way round using the space on the wall for storage.
16:02And that'll let you use some of the space on the bottom for appliances.
16:08So, at least you can have a proper fitted kitchen.
16:11And maybe have this with stone tops and a breakfast bar.
16:14So, you can have a couple of stalls and somewhere to eat.
16:18And we have a sofa and a television on the wall.
16:21And this will be your reception area.
16:23Getting rid of all this.
16:24You can't have your appliances just sat in the middle of the room.
16:28It ain't gonna work.
16:30But with a bit of thought, planning reconfiguration, this could be made to work better than it does now.
16:37Yeah, a lot better.
16:39Hold on.
16:40We've got some more space.
16:42There's a staircase here going somewhere.
16:45I've got to follow it.
16:46It's a very steep staircase and the head height's a bit questionable.
16:58Mind you, I am rather tall.
17:00But look what it gives us, this lovely little garden.
17:03And it's a beautiful sun trap.
17:05Lovely.
17:06So, you've got direct access to your garden from the flat.
17:10Listen.
17:11All you can hear is birds and bees.
17:17Mother Nature.
17:18Imagine a nice little round cast iron table, a couple of chairs, a nice cold beer and some cheese and biscuits.
17:26Listening to Mother Nature.
17:27What more can you ask for?
17:28And while this tranquil private garden only needs a tidy up, Tommy's had more thoughts about the internal space.
17:41Now, I've been thinking about this layout.
17:46It doesn't really work.
17:48Not the way it should do.
17:50So, I've been wrecking my brains to come up with an alternative solution.
17:55And I think if we took a slice off of this bedroom, and a bigger slice off of this bedroom,
18:02and then put a new bathroom in there.
18:05Well, actually a shower room.
18:06So, you have a shower at the back, and then have a wall hung toilet, and a wall hung hand basin,
18:11so they wouldn't protrude too much into the room.
18:14And then on the other side opposite them, you could have a full height towel radiator.
18:19So, that would give you the heat you wanted in there as well.
18:22So, that way you'd end up retaining the two double bedrooms.
18:27But you could then, by losing that bathroom, you could take all that space out there,
18:33go straight across, and that would become the living room, dining room, and kitchen space.
18:39So, it would almost double in size.
18:41And that would at least give you some proper functioning seating areas for you to do normal living.
18:48Yeah.
18:49And you've still got your bathroom.
18:51You've got your new shower room here.
18:53Your two double bedrooms.
18:54Everything's cushy.
18:56As a leasehold property, the only fly in the ointment could be that any alterations will require permission from the freeholder.
19:08But what does a local estate agent make of this flat, guided at £275,000?
19:15First impressions are good.
19:17You've got good bones here.
19:18Lots of work to do, of course.
19:20The wallpaper's got to go.
19:21The windows have got to go.
19:22You need to reinstall some of the character that's now been taken away over the years.
19:26And layout-wise, really big as a one bed, a bit tight as a two bed.
19:32So, if it was to stay in its current configuration, what kind of returns could this two bed generate?
19:39Once renovated, this flat will sell for £450,000 and for rental would achieve in the region of £1,500 per calendar month.
19:51I do quite like this flat.
19:53It's in a lovely, quiet residential area and very close to all the amenities and everything you could possibly imagine.
20:00I know it could benefit from an update and also some sort of layout tweaks, but you wouldn't have to spend an absolute fortune to bring this up to modern day.
20:12Let's see who fancied the chances turning this into a beautiful home when it went under the armour.
20:22This lot was part of a remote auction with bids taking place online.
20:26Five, sold.
20:29For £125,000 over the guide price at £400,000, the successful bidders were Kim Here on the left and Ang Harrod.
20:40Friends get together in the evening sun, drinking and dancing till the day is done.
20:49Kim is a junior underwriter and Ang Harrod works for the NHS in primary care.
20:55Tommy met them to find out more.
20:58Well, first of all, Kim and Ann Harrod, can I congratulate you on your acquisition?
21:04So, are you very pleased with the purchase?
21:07Yeah.
21:08Yeah, definitely.
21:09What do you intend to do?
21:10Are you going to do something, sell it on or rent it or...?
21:12No, we plan to do it up and live in it together.
21:15Yeah.
21:16Oh, you're going to live in it?
21:17Yeah.
21:18Oh, great.
21:19Yeah.
21:20Yeah.
21:21And how long have you been friends for?
21:23Around 20 years.
21:24Yeah.
21:25You must have been very young because you're not very old now.
21:2720 years ago.
21:28Yeah.
21:29Yeah, we know.
21:30Since we were about four and five.
21:31Since we were about four and five, yeah.
21:33Have you lived together before or is this the first time?
21:36No, but we've holidayed together many a time.
21:38Yeah.
21:39So, we know each other pretty well.
21:41Was it peaceful?
21:42Yes.
21:43No battles?
21:44I think it was.
21:45She might just agree.
21:46No, no.
21:47Um, I think we know when to give each other space.
21:50Yeah.
21:51I think that's kind of...
21:52Perfect.
21:53So, what was it about this particular flat that you liked so much?
21:58Um, well, we'd viewed a couple of properties around the area.
22:01Yeah.
22:02Um, we came to view this one where I think we both just really liked it.
22:06We liked that we could put our own stamp on it.
22:08We kind of knew that we would want a project and this was kind of enough of a project.
22:12This is a project.
22:13Yeah.
22:14Yeah.
22:15So, what do you intend to do to it?
22:17To change it?
22:18So, in the first bedroom, we're going to partition it off and create a little study,
22:22um, and then create two equal-sized bedrooms out of that.
22:26Um, in the corridor, just by the study, we're going to have a big cabinet
22:31and we're going to put our boiler and our washing machine in there
22:35to not use up the space in the kitchen area.
22:38Redo the bathroom.
22:40Yeah, that's first.
22:41That's, that's the first thing to do.
22:43You obviously don't like the avocado.
22:44No.
22:45And...
22:46It does date it somewhat.
22:48Yeah.
22:49Yeah.
22:50And the lime green toilet seat is something.
22:52Yeah.
22:53And then in the kitchen area, we're hoping to open that up slightly, potentially put in
22:58an external staircase and floorboard over the internal one, um, and create a living kitchen
23:05diner area.
23:06Yeah.
23:07And I think, like, our plan at the moment, we've had several different types of drawings
23:11drawn up.
23:12Um, our plan is to actually move the kitchen to the bathroom wall end.
23:17Mm-hmm.
23:18Um, I think the cabinet space works better at that section of the room and then have the
23:24lounge area towards the back of the door.
23:27Oh, where?
23:28Yeah.
23:29With help from their families, Kim and Ang Harrod have a healthy budget of 30 grand.
23:36But with some of the work needing approval from the freeholder, how long do the pair think
23:41the refurb will take them?
23:43I'm quite optimistic.
23:47Kim's probably a bit more realistic.
23:49Yeah.
23:50Um, I'm thinking six months.
23:52And I'm probably more, um, on the realistic side.
23:56Um, so eight to nine months.
23:59Right.
24:00Well, you're not that far away from each other.
24:02No.
24:03No.
24:04And you've got to see how it goes.
24:05All right.
24:06Well, you do a lot of the work yourselves, you think?
24:07Yeah.
24:08Yeah.
24:09And family and friends will help as well.
24:11Is there any history of building work in your family?
24:13My dad is a structural engineer.
24:15So, um, and he's an incredible handyman as well.
24:18Um, so, yeah, he will be doing a lot of...
24:22He'll be fully employed here.
24:23Yeah.
24:24Yeah.
24:25We've already got him drawing up the plans and everything.
24:27Yeah.
24:28Contract.
24:29Payless.
24:30Yeah.
24:31Yeah.
24:32Yeah.
24:33Good luck, girls, anyway.
24:36Ann Harrod and Kim have been lifelong friends for over 20 years.
24:40And this is their first place together, which is admirable.
24:45But this is where the hard work starts right now.
24:49There's loads and loads to do to get this place looking perfect.
24:53And who's going to be right about the time scale?
24:55Is it going to take six months or nine months?
24:58Or is it likely to take considerably more?
25:01You can find out how they get on later in the show.
25:06Still to come in Leeds, I see a lot with huge potential for anyone willing to take a risk.
25:11The bit I haven't told you is that there's no planning permission in place at the moment.
25:16And in south-west London, we find out how old friends Kim and Ang Harrod get on renovating their two-bed front.
25:31We're heading back to Darley Abbey in Derby where I spotted an auction lot with plenty of promise.
25:38Two beds went to auction with a guide price of £160,000.
25:44Off-street parking, garage, wraparound garden.
25:48That's a good start.
25:50Inside, the bungalow didn't disappoint.
25:54It just needed a cosmetic refresh with scope to rework the layout or even extend.
26:00It was snapped up for £202,000 by local developer Sam.
26:05He'd successfully tackled a similar project and was keen to work his magic yet again.
26:11What was it about this that attracted you to get it?
26:14You can usually adapt the layout for what you need without extensions and stuff.
26:19So, yeah, they're good properties.
26:23Sam had a business partner, Tom, and together they planned a four-month flip with a £60,000 budget.
26:29Now, eight months on, let's see how they've got on.
26:37There's nothing old-fashioned about this bungalow now.
26:40With new render and a fresh porch, it's looking very sharp.
26:45There's plenty of off-street parking, thanks to a new driveway, but no six-foot fence.
26:52He just didn't get through planning, so I'm not overly worried about it.
26:56And to be honest with you, from the beginning, I probably should have just planted screening and stuff like that.
27:02It's just one of those things.
27:03Inside, it's clear to see this bungalow has left the past behind it.
27:09New patio doors brighten the space, and ditching the 60s fireplace and chimney stack has opened things up.
27:18The kitchen, too, has had a pretty major revamp.
27:22We changed the layout just to have a larger kitchen diner.
27:26There's still room for whoever buys it to change or put their own little stamp on it if they want.
27:31They can have a breakfast bar.
27:33We've blocked up an old back door, so we've got the patio doors from the dining room that they'll use to get out into the garden.
27:41As planned, the oddly shaped lean-to has been removed, allowing more light into the bungalow and increasing the size of the garden.
27:52It was good to get rid of it, good to get rid of the other sort of bin lean-to as well.
27:58And obviously, once the digger came in, removed all the grass, everything like that, it opened it right up, and it makes it a nice garden now.
28:05The garage now has power, so that is now handy storage space.
28:12Back inside, the bathroom has had a full refurb, as have the bedrooms.
28:18The main bedroom at the front even has its own en suite.
28:23Sam and his business partner, Tom, have practically built a new home.
28:28So initially, we started with the strip-out, you know, sort of working out.
28:35When you do the strip-out, probably working out a bit more what would be good with the layout.
28:40And then after that, you know, just all the subcontractors that we use generally, really,
28:45our electrician, plasterers, carpenter, they just come in and that's it, really.
28:51Everything's been done, from a full rewire and re-plumb to a brand new central heating system.
29:01Sam's a plumber and Tom is an electrician, so they've had the skills to get stuck in,
29:07but took on more of a project management role.
29:10The only thing they didn't plan for was a new roof.
29:15After factoring in this cost, they revised their budget from £60,000
29:20and ended up spending a total of £75,000.
29:23The work also took eight months instead of the planned four months,
29:28but Sam still is happy with the end result.
29:31The bungalows are great.
29:34Out of any sort of developing, they're the ones, you know, that I enjoy.
29:37There's no stairs, it's easy, you've usually got driveways, you know,
29:42there's a bit of land with them, it's easy to do the skips.
29:46It's just, they're good to do, the bungalows.
29:49If you can get the right ones in the right place, they're great.
29:56Let's see if this bungalow has been a great one for Sam and Tom,
30:00who are still planning to put it on the sales market.
30:02We invited along a local estate agent to see what they make of this modern home
30:08and to find out what it's worth.
30:11One thing that really surprised me is the fact that this two-bedroom bungalow
30:16has actually got a fantastic amount of space.
30:19Having plenty enough room in the breakfast kitchen and the lounge
30:21and then two really good-sized bedrooms with the bathroom and the ensuite as well
30:27really sets this property apart.
30:29Having that lovely outlook on all sides really does make a difference for this kind of property,
30:35giving it that feel more of a house as opposed to a normal two-bedroom bungalow
30:40on this kind of development.
30:41Sam and Tom have spent a total of £277,000, including the purchase price.
30:49So with the work now complete, how much does the agent think it could be worth on the resale market?
30:55If this property were to come on the open market tomorrow, I would have originally said around £350,000,
31:03but considering the high quality finish of this property, I'd be looking at around £375,000,
31:09maybe even a little bit more.
31:11We've bought and sold before in this area, so we kind of knew, yeah, that would be around that price.
31:20So hopefully, you know, depending on interest, we'll sell it for that maybe, if not slightly more.
31:26Taking the agent's top figure, that could see the pair with a healthy pre-tax profit of £98,000.
31:34Now that is a really good return on their investment.
31:36So with this modern bungalow heading to the sales market soon, are Sam and Tom already looking for their next project?
31:48We are always looking, so it doesn't, you know, you look, you do your due diligence, you look at the numbers,
31:56and if something's there, then hopefully, you know, it will come your way.
32:00But, you know, that's all you can do, is just keep looking.
32:02We're in Leeds now, which is home to one of the UK's largest music events, Leeds Festival.
32:15We are revisiting an auction lot I saw back in Autumn 2022.
32:20I am in Bramley, I'm not too far away from Leeds City Centre, I'm on a pretty busy road, but we do have good transport links as well, so location is good.
32:35Today, I'm not here to see a house or a flat. I am here to see this piece of land right here.
32:44Basically, it's a car park. It went to auction with a guide price of £85,000.
32:50And you know what? It's a decent size.
32:52The Generous Plot had an area of 351 square metres, and with residential properties surrounding it, there was fantastic scope for development.
33:06It used to be the car park to the pub. The pub is now closed.
33:12You're in a residential area, so the water and your gas should all be in and around you, and shouldn't cost you too much to get installed in whatever you want to do with this piece of land.
33:22And you've got easy access. I like it. It's very exciting.
33:26So what can you put on this piece of land? Well, you could put terrace houses on here, you could put a pair of semis on here.
33:37You could actually put one big house on here. There's enough space.
33:41The bit I haven't told you is that there's no planning permission in place at the moment.
33:46So, what you do is get your plans drawn up. Get that application in.
33:51Hopefully, it's granted. When you get it back, that's when you can bring your ideas to life. That's the exciting part.
34:04Securing planning permission was a must for this plot, and it would have been a good idea for the new buyer to speak to the local authority to ensure what they had in mind for the land was likely to be approved.
34:17And when building in an existing residential area, there were other people's thoughts to take into consideration too.
34:26So, a little bit of Dion Dublin advice. I hope you don't mind.
34:30When you're buying a plot of land like this one in particular, you're surrounded by residents.
34:35There's a community here already. Go and have a conversation with them.
34:39Have a chat. You might find out what used to be here.
34:41What used to be here. You might get some information that's going to make your development better.
34:46Find out what they think the area needs. It's always nice to be nice.
34:52That's what I say anyway.
34:54Keeping on side with the locals will always be beneficial when starting a building site next door.
35:00But the question remains, what was the best use of this space?
35:05An expert from the auction house that sold the car park came along to give us his thoughts.
35:10So, we're in Bramley. It's a nice residential area.
35:13You've got Bramley Park just around the corner.
35:16Bramley Shopping Centre is about a mile down the road.
35:18Good commuting distance from Leeds and Bradford City Centre.
35:21So, it's a nice location.
35:23I think planning will be a strong possibility.
35:27I think access into the busy road will be a key issue for the planners, safety, etc.
35:31But it's adjacent to residential housing, so I think the precedent's there.
35:34And I think it's likely that planning consent will be given.
35:37Well, I think it's likely to be two semi-attached properties, maybe four apartments.
35:42It's quite a small site, but that would fit on this site, subject to getting that planning consent.
35:45If the buyer was to create two semi-attached houses, as suggested, how much did he think each could rent for?
35:54Well, I think if they built two semi-attached on this property, I think the likely rental would be around about £700 to £750 per calendar month.
36:02And if you were to do the same, but put them on the sales market?
36:07I think you'd be likely to achieve approximately £225,000 to £250,000 per property, depending on the design, quality of fixation,
36:14etc.
36:16As building plots go, this is about as good as it gets.
36:21You are looking for a good location, a good-sized plot, and you want it to be flat.
36:25Well, this is a tick, tick and a tick.
36:28But can you get that planning permission?
36:31I don't think it'd be a problem.
36:33Let's find out who agreed with me when it went under the hammer.
36:38This lot was part of a remote auction with bids taking place online.
36:42It's yours, sir.
36:48The successful bid of £179,000 came from experienced property developer William, a regular visitor to auctions.
36:57He'd bought more than 50 properties under the hammer.
37:01William, nice to meet you.
37:03Nice to meet you, Dion.
37:04You bought yourself a car park. Why?
37:06Well, I don't need the car parking space, I'll be honest.
37:09But what I did do is build the eight houses that are straight behind me.
37:12Bought the land from the local council.
37:14We built the houses. They sold like hotcakes.
37:17And at the time, I actually enquired with the council about this land and asked if I could buy it to continue the development.
37:23And they said it wasn't for sale and it wasn't in their plan at the time to sell it.
37:26Was it a car park at the time?
37:27A car park at the time and unused at the time.
37:30So there shouldn't be a problem getting planning, should it?
37:32So as soon as the hammer went down, I prepared the planning application based on what we'd done next door.
37:37We had all the details that we needed.
37:39And actually, what I'm looking to do is replicate one to eight and create simply nine and ten of the same scheme.
37:45So it's really important that the design follows through and it looks like part of one thought-through and considered scheme.
37:51Tell us a bit about yourself. Are you from the area?
37:54I'm a landlord and property developer in Leeds.
37:57We have sort of three arms of the business.
37:59I've got a private residential property portfolio, which is probably my main income source.
38:03I then have a holiday-let business and then we also do the straightforward building.
38:08Sometimes we'll build and sell, other times we'll build and keep.
38:10Something like this, two houses, is too small for us to keep in the holding company.
38:15So we'll build these and we'll sell these to the general public.
38:17And I'm expecting families and residential buyers to snap these up as soon as we've finished.
38:22You've got a good piece of land there, a good chunk of land.
38:25You've done those already.
38:27Are we literally just going, plonk?
38:29The first thing I did, before I even bid, was I jumped on the computer, I got the map, plotted it out.
38:36It fits perfectly.
38:37You're going to have access in from two access points.
38:40Driveways?
38:41Driveways.
38:42Drop them in the kerb, get all this rid of this wall.
38:44Here?
38:45Come in, down the side.
38:46Yeah.
38:47And then you'll have a turning head into two car parking spaces here.
38:49Oh, okay.
38:50Electric charging points.
38:51And then you'll have highly insulated, three bedroom houses behind,
38:54with gardens and landscaping to the rear.
38:57How much is each unit going to cost, or do you cost it as a home?
39:01Realistically, a pair of semis will cost us in total about 300.
39:04So, about 150 a plot.
39:06Okay.
39:07I'll be honest with you, Dion.
39:08This is not going to be the project that's going to buy me my next yacht.
39:13It's not a hugely profitable project.
39:16What it is, is a project...
39:17Why not?
39:18Because you paid too much for it?
39:19The land was absolutely its full price.
39:22Okay.
39:23Every single penny it was worth.
39:25Another thousand on that auction bid by the underbidder,
39:30and I wouldn't have been bidding a thousand more.
39:32It was every single penny.
39:33That's it.
39:34Wow.
39:35Okay.
39:36But for me, I got the plans for next door.
39:38I've got cost savings because I know where the gas is,
39:41I know where the water is.
39:42Yeah, yeah.
39:43drainage connection over here behind me, all ready to go.
39:46So, I genuinely don't think that anyone was going to deliver the houses
39:50that this area needs at a more cost-effective price than me.
39:53Yeah.
39:54So, I could afford to pay that top price,
39:55and that's probably why I got it in the auction.
39:57And you know what, William?
39:58The residents will be very happy that they've got a couple more houses
40:00in a good area, next door to one of your developments as well.
40:04It's a residential area.
40:05It's perfect for a pair of semis here.
40:07Absolutely brilliant.
40:08There was nothing else you could do with this site.
40:10Yes.
40:11It, you know, I felt like it had my name all over it
40:13when they lotted it up in the auction.
40:16Unfortunately, William's six-month deadline fell by the wayside,
40:20and when we returned one year and five months later...
40:25This is all I want.
40:26I'm on my way up.
40:28Living the good life.
40:30It was a long way from the finish line.
40:39The foundations had been dug, a screened floor had been put down,
40:44and the internal block work and external brick work
40:47were all at first floor level.
40:50The joys for the upstairs floor were being put in by William's build team,
40:54and progress was clear to see.
40:57But with a six-month deadline,
40:59why were there not two completed semi-detached houses here 17 months on?
41:06Getting planning permission was the easy part on this site.
41:08It was granted very promptly.
41:10However, we did have a large backlog of work to contend with
41:14once we had the grant of planning permission.
41:16So what we did was continued with our usual course of works
41:20and wait until the opportunity to fit this site into our schedule came along.
41:24So obviously once you actually start on site, these houses do go up relatively quickly.
41:30We're working here with Keith and Pete, who are trusted contractors of ours
41:34and actually built several of the houses next door.
41:37So they know the job, so do we, and we're cracking on.
41:42While Keith and Pete installed the lintels, William gave us a guided tour
41:46on how these houses were going to be laid out.
41:50I'm walking in here into the second of the two plots through the front door
41:55and into the entrance hallway.
41:57In here we'll have a door that will go into the lounge or the stairs,
42:00which will take you straight up to the three bedrooms.
42:02Walking through here, you'll have a lovely large kitchen dining space,
42:07starting with a range of modern wall and base units in an L shape on this side of the room.
42:13And then on this side, we'll have a utility space and a downstairs WC.
42:18In the central area, we'll have perfect family dining space
42:22and then bifolding doors going out into the garden,
42:25which will be paved and ready for that family barbecue.
42:28The houses would have off-street parking with EV chargers
42:34and William had tweaked his plans a little to add a fourth bedroom
42:39into his energy-efficient homes.
42:42For so many people now, the carbon footprint of their home is really important.
42:47So EV charging, solar panels, high levels of insulation
42:51gives you a great house that you'll want to live in for a long time
42:55and that will be inexpensive to run and good for the planet.
42:59William was confident he was going to stick to his 300 grand budget
43:03and was aiming to have the houses finished in a further four months.
43:08Did it all turn out how he'd hoped?
43:11Well, you can find out later in the show.
43:14Back now to Colliers Wood in south-west London
43:24and a first-floor flat garden at £275,000,
43:27which Tommy thought had room for improvement.
43:31With a bit of thought planning reconfiguration,
43:34this could be made to work better than it does now.
43:38Make it better, I'm better for you.
43:42The people who thought they could make it work better
43:45and as an opportunity to get their first place together
43:49were childhood friends Kim and Ang Harrod.
43:52They paid £400,000 at auction for the flat.
43:56What was it about this particular flat that you liked so much?
44:02Well, we viewed a couple of properties around the area
44:05and we came to view this one
44:07and I think we both just really liked it.
44:09We liked that we could put our own stamp on it.
44:11We kind of knew that we would want a project
44:13and this was kind of enough of a project.
44:17This is a project. Yeah.
44:19They had £30,000 for the project
44:22and hoped it would take no more than nine months
44:25to make it into a home for them both.
44:28That was the plan but now three years have ticked by
44:32and finally we're back to meet up with Kim
44:35to see what they've been up to.
44:43We put up a stud wall in the front room
44:47and created a study
44:51so that the two bedrooms were more equal in size.
44:58They might be equal in size but that doesn't mean
45:00either bedroom is small.
45:02They're both good size doubles.
45:12The small window in the kitchen,
45:15we changed to a door and Juliet balcony.
45:19We also lifted the other window in the kitchen.
45:30We lifted the sill so that we were able to get
45:33the standard countertop for a kitchen in.
45:40As planned, the kitchen was moved to the back
45:43of the kitchen living space.
45:45We removed the walls in the kitchen
45:50that were for the internal staircase down to the garden
45:54and made that into a trap door.
45:59Now that's a clever way of gaining more floor space
46:02while keeping access to the garden.
46:04The lime green bathroom is now an ultra modern shower room.
46:23Throughout the flat, they've maximized the space.
46:26There's a new utility cupboard in the hallway
46:30and drying space over the stairs.
46:33It's looking pretty impressive.
46:35But as a leasehold flat, they required permission
46:38from the freeholder to carry out the alternations
46:41which delayed some of the work by nearly two years.
46:45But a change of circumstances made things a little easier.
46:49The freeholder put the freehold for sale which enabled us
46:54to buy a share of the freehold as per the act right of first refusal.
47:01With the freehold, they can carry out a number of jobs
47:05that desperately need doing such as repairing the stairs
47:08which require access from the flat below.
47:12and they hope to put in an external staircase to the garden.
47:18This long and frustrating project is coming to an end
47:22but who got it to this stage?
47:25We initially wanted to do a lot of the works ourselves
47:30or my father, but because it had taken so long
47:36we decided to get the builders in to do the bathroom.
47:39And then my dad built the trap door, fitted the kitchen,
47:46built the cupboards in the hallway
47:48and Harold and I have painted.
47:51That was our role throughout the whole project was to paint.
47:56So it was a group effort and once the legal rangling had been sorted,
48:09most of the work was carried out in under a year.
48:12And Kim and Ang Howard have been in their new home for a couple of months.
48:18So apart from the stress and the strain that this refurbishment
48:21has no doubt cost them, what has the final financial cost been?
48:27Our initial budget was around £30,000
48:30and I think we're probably closer to £50,000
48:35the amount of time that it has cost.
48:37We've had a lot of legal fees
48:40which has been incorporated into that sum
48:44along with furnishing the property
48:47and purchasing a share of the freeholds
48:49kind of all accumulated into that kind of budget.
48:59£50,000 on top of their £400,000 purchase price
49:03means Kim and Ang Howard have spent a total of £450,000 here.
49:08So is it money well spent?
49:09What does the agent that saw it last time think?
49:15Changes here are great.
49:16It's really interesting to see what they've done
49:18and the way they've used it.
49:19It's perfectly suited to professional sharers
49:22and really is a lesson in how to use small spaces.
49:25For the time being this flat is going to be Kim and Ang Howard's home
49:30but has it been a good investment at £450,000?
49:34I think if I was selling this property it would achieve in the region of £500,000.
49:39£500,000 is good.
49:42At least there's still profit in there.
49:45Yes, maybe a pre-tax profit of up to £50,000
49:50and the agent thought a rental figure of around £1,800 per calendar month
49:55should be possible.
49:57That would generate a yield of just below 5%.
50:00So in the end the returns aren't bad.
50:02But was it worth the difficulties, delays and hassle they'd had to go through?
50:13It's been a long time coming and we're both really happy to be in.
50:17We're both loving what we've done with the space.
50:21Definitely relieved that it's all over and that we're in.
50:25Just living our own lives as we've wanted to do for so long now.
50:29So at last it's time to take stock and enjoy living in their new home.
50:35So glad I waited for you.
50:39Back to Leeds now to conclude a story that started back in autumn 2022
50:56when I first visited this plot of land that came with a guide price of £85,000.
51:03A former car park, it had everything a prospective developer could want except planning permission.
51:11I like it. It's very exciting.
51:13A small detail for experienced property developer William, who bought the plot for £179,000.
51:21He developed the site next door and was confident his plans to build two semi-attached properties would be accepted by the local council.
51:29What I'm looking to do is replicate one to eight and create simply nine and ten of the same scheme.
51:37Seventeen months later, we came back.
51:40The project had been given the green light for two four bed semis, but William wasn't as far ahead as he'd hoped.
51:46We did have a large backlog of work to contend with.
51:51Two years and two months since our first visit, we're back to see if William managed to complete his car park transformation.
52:01Even after all this time, the development still isn't completely done.
52:06The build team are busy putting the final touches to the right hand semi, but we can take a look inside the house that is finished.
52:16On the ground floor, there is a reception room to the front and a very spacious kitchen dining area to the back with doors leading to a landscape garden.
52:28There's also room for an under stairs WC.
52:32Moving to the first floor, there are two double bedrooms and a family bathroom.
52:40And finally, in the attic space, there are two further bedrooms with a shower room.
52:49The standard of finish is certainly impressive, but William was aware that he needed to strike a balance.
52:56With these houses, we're working to a certain price point because, as with every area, there is a certain ceiling to what you can achieve.
53:05So we have to be careful with the specification while wanting to make sure that any future occupier could really enjoy it.
53:11As you walk up the stairs, you're touching an oak handrail. You're using an oak door going between each room.
53:19When you walk into the kitchen, you're welcomed with good quality modern wall and base units and a solid surface worktop.
53:26The bathroom is a four piece. There is that touch of luxury that the future occupier can really enjoy.
53:31Another important aspect of the design of the houses was their energy efficiency.
53:37This property has an incredible air tightness. It also has an A-racing on its EPC. That's because of high levels of insulation, because of the EV charger, because we've got solar panels on the roof that can also charge your car, can buy this house and be guaranteed of low and sensible bills now and in the future.
53:58Originally, William planned for two three-bed semis. So what prompted the change of heart?
54:07When we considered the design, we were starting absolutely from thinking about that family occupation.
54:14There's four bedrooms. Realistically now, what people will be doing is probably occupying a master bedroom.
54:20They may have a couple of children and that fourth bedroom could be a dressing room. It could be a hobby room.
54:24It could even be a work from home office.
54:26But what we've done is we've made sure that each room is a good size, that it's genuinely usable. There is no box room in this house.
54:35William reckons there's another four weeks work before the second house is finished.
54:39But don't worry, William, we're not going to hold you to any date.
54:43Our time on site has probably been exactly as I expected. However, it's come in fits and starts.
54:49In the meantime, we've built an indoor swimming pool. We've built a grand design style villa over on the East Coast.
54:57We've built a cantilevered property in North Leeds. And only when we've had the spare time have we come onto this job.
55:04So while it has taken us in global terms a very long time, actually, the reality is that the job has been as expected in respect of the time, but just been protracted by our long absences on other jobs.
55:21When the second house is complete, William estimates his total spend, including the purchase price, will be half a million pounds.
55:31So what sort of return is in store for him? We asked along a local estate agent who is helping William market the properties for his thoughts.
55:39So when we're looking at properties at the moment, I think the most important thing when we're marketing is proportions.
55:44And I think it's beautifully proportioned. You've got a really ample size living room, the kitchen down towards the rear you'll see is excellent as well.
55:51All four bedrooms done to a good standard. And I think the family bathroom is just a cherry on top.
55:57And when it comes to the sales valuations, the estate agent has some really good news.
56:02So at the moment, the property I'm actually standing in is already sold. We've managed to sell it at £340,700.
56:09I'm optimistic because we managed to sell this off plan that when we market next door and sell next door, that we should get that all over.
56:17I'm completely satisfied that it's a fair deal for buyer and seller because we've built a better house to a higher specification than I originally intended to.
56:26Assuming the second house sells for the same amount, that would give William a pre-tax profit of over £181,000.
56:37And although rental is never in the plan, how much would these houses be worth if you were to rent them?
56:44If they were to be marketed for rent, we would say around £1,600 to £1,800 per calendar month.
56:49I'm one of the largest landlords in Leeds with over 100 properties in the area, so I know the rental market very well.
56:55But a scheme like this with just two houses is simply too small for us to put in the holding company.
57:00It's not something we're interested in doing. We've enjoyed building them, but it's time for someone to call this home in the long term.
57:08Those figures would have given William a return on his investment of between 7.5% and 8.5%.
57:14So what does the future hold? William, who's plugged into property trends, thinks things might be about to go a little flat.
57:25I've been in the property market for around 20 years now, and I've probably built around 250 houses, whether it be refurb or new builds.
57:34And it's never been harder. If you want to get involved in property now, you must really think, do I absolutely have a commitment to this?
57:46Because this is no get rich quick scheme. This is hard work. You're paid for what you do.
57:53You're paid well and honestly, but by no means is it the fastest way to make any money.
57:58So another action packed show has come to an end and if it's left you craving for more, well, don't worry.
58:07We'll be back very soon with loads more stories from the auction house here on Homes Under The Hammer. Goodbye.
58:13We'll see you next time on Homes Under The Hammer. Goodbye.
58:14We'll see you next time on Homes Under The Hammer. Goodbye.
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