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Short filmTranscript
00:00Hello and welcome to Homes Under the Hammer.
00:03Now, many might say that being in the property game requires you to be really tough.
00:08Well, I'm delighted to say in today's show I am joined by a true icon of speed and strength.
00:15It's Harry Aikens Ariti, a.k.a. Nitro from Gladiators.
00:20Thanks for having me, Martel. I love the show and even more so, I love a challenge.
00:25So, I'm excited to be joining you today.
00:26Brilliant. I just hope that today's property isn't as tough to handle as being in the Gladiators arena.
00:32As well as putting our own property skills to the test, we'll be looking back over the archives to find
00:38you a brilliant story from days gone by.
00:40So, the question is, are you up for it?
00:42Oh, I am. But the real question is, are you?
01:11So, important question. Have you been in training for today?
01:15Yes, I have. Now, I'm not quite the property expert, but I've renovated a few properties in my own time.
01:20Now, I've brushed up on the golden rules, which are to view the property and read the legal pack.
01:26Absolutely. Harry Stroke Nitro, that is fantastic. The golden rules.
01:29And also, as you know, as a sportsman, discipline's a really good thing, too.
01:33So, to set your budget and to stick to it.
01:36Of course. So, will today's buyers reap the rewards of their hard work and dedication? Let's find out.
01:43Well, we both travel to Earl's Court, where Harry gets off to a flying start.
01:48Two flights of stairs.
01:51I made it!
01:53In Somerset, Martin quickly sorts out the layout of his auction offering.
01:57That's another bedroom. We've got three bedrooms, family bathroom, en suite. Job done!
02:03And a spin in the time machine takes us back to Victorian times.
02:08Well, seriously impressive front door. That's what you call a grand entrance.
02:14All these properties have been sold at auction, and we'll find out who bought them and what they paid for
02:19them when they went under the hammer.
02:22Well done.
02:28We're in London's upmarket, Earl's Court, where properties can easily fetch north of a million pounds.
02:35So, finding one at auction is a rare opportunity.
02:38And with a gladiator at my side, I'm confident we can knock it into shape and make it a real
02:44winner.
02:45Well, Harry, I thought you might be a man who appreciates the finer things in life.
02:49Can you tell?
02:50Yes, I can so tell. So, I brought you to West London and Earl's Court, which is super close to
02:57Chelsea, Kensington, so lovely neighbourhoods. What do you think?
03:01Do you know what? I'm so impressed. I believe we're five minutes away from a tube station. I love the
03:06area, and I love the street. And do you know what? The houses here are so grand.
03:10Oh, they're so grand. And the one we're here to see, well, it's over here.
03:15This one here? Up here. It looks rather handsome, doesn't it?
03:18Wow, it looks lovely.
03:18The guide price was £250,000. It's a studio flat, and it's up a few flights of stairs, but I
03:25don't think you'll have a problem with that.
03:26Well, Martell, I'm good to go. I'm ready for it. Martell, are you ready?
03:29Nitro, I was born ready.
03:30Of course you were. Are you ready?
03:31Three, two, one. Let's go.
03:42Well, first impressions?
03:44First impressions. Nice big door.
03:46Yeah.
03:47Big enough for a gladiator, might I add.
03:48Yes, yes, yes.
03:49And nice ceilings, you know?
03:51Yeah, good feeling of space. And I was just thinking, though, as a former GB Sprint champ, I wouldn't mind
03:58finding out how long it takes you to go up the stairs.
04:00I mean, it just so happens that I carry a stopwatch.
04:04You don't.
04:05And a whistle everywhere I go.
04:08Oh, nitro.
04:08I'm always ready to train. I'm always ready to go. So, you know, obviously, let me get prepped and ready.
04:14And, uh, are you ready?
04:16On my first whistle. Three, two, one.
04:21Do you feel the power of the gladiator?
04:25Two flights of stairs.
04:27Do you have the will?
04:29I made it.
04:31Are you a gladiator?
04:36So, how did I do?
04:37Not bad.
04:38Okay.
04:39I mean, really, not bad.
04:40I'll take that.
04:41Shall we go in?
04:41I think we should go in.
04:44After you.
04:46Oh, so here we have it.
04:48Straight in to, well, what do we have? First up, Harry, we've got the bathroom. What do you think?
04:55The bathroom's quite spacious. But in all fairness, I think the majority of this is going to come out, right?
04:59Give the place a little bit of pizzazz.
05:01Yes, pizzazz!
05:03Okay, next up, we have, well, this is kind of your reception room or your sitting room, but it would
05:09also be the place that you sleep. This is it, Harry.
05:12Your living lounge, as you would call it. But to be fair, the high ceilings continue in, which I'm a
05:18big fan of.
05:19Well, if we come over here, we've got the kitchen, okay, which also has high ceilings.
05:24I think what's awesome is having the opportunity to put shelves all the way up. You could have your pots,
05:29your pans.
05:30In most circumstances, the kitchen's the heart of the home. It's obviously where I'm fuelling myself and where I'm fuelling
05:36others.
05:37And I like to do it with a smile on my face, so I think it's got a good essence
05:41of promise around it.
05:42Yeah, a good essence of promise. I like it. I wouldn't mind taking a real look at what's out there,
05:47okay?
05:48Well, do you know what? I'm going to check out the storage because I'm a stickler for storage.
05:51I've got a lot of kit that I need to store in certain places, so let me go see if
05:54I can find some.
05:55See you in a minute.
06:00Ooh, well, this is really good news. Yes, it's outside and very small. It's a small area.
06:06But anything in London that's outside, especially for a studio flat like this, well, it's a bonus.
06:11And it just gives you a little bit of breathing space.
06:23Space is tight in this leasehold flat, but there is room for good news.
06:29125 years left on the lease means no extension headaches.
06:34Just bear in mind any alterations will need the freeholder's permission.
06:39And Harry, a.k.a. Nitro, is checking out how to make the most of the haul.
06:45Right over here, we have a very squeaky door, might I add.
06:49A touch of storage in here.
06:51Now, you can put some coats and some jackets and some shoes, but it's not the biggest of spaces.
06:56This is probably something you take out.
06:58You've got some above head as well.
07:00There you go. Just a touch there.
07:03And, uh, shall we see what's in here?
07:05Now, look at that.
07:07That is a decent amount of storage.
07:09Now, this is a gladiator-type space that I could get used to.
07:13Whether you put a shower in here or something else, I'm not too sure.
07:16But I think you'd have to pick between the two.
07:19Now, uh, let me close this up.
07:22Because I found my storage, so I'm happy.
07:34I've looked at the balcony.
07:35And I've checked out the storage.
07:37So now we know the layout pretty well.
07:39Is there anything we can do here to make it a bit more desirable?
07:42I think you could.
07:43I think, personally, you could turn it into a one-bedroom apartment.
07:46I would put a pocket door in down this end.
07:47So, obviously, a little bit of stud work on the walls.
07:50I'd have a bed over here and move the kitchen into that corner over there.
07:53I like your idea a lot.
07:55Are you competitive?
07:57Slightly.
07:58You can't be a gladiator and Olympic sprinter without being competitive.
08:02No, I'm neither of these things, but I'm still quite competitive.
08:05So, if you didn't want to go through the paperwork and budget
08:09of putting your plumbing through here for the kitchen,
08:12I've seen it work very well in small properties
08:15where you can put a mezzanine level.
08:16Ooh, I like the idea of that.
08:18Or you could have that pull-down bed here.
08:21They're three good options to have.
08:22Very good options.
08:23They're kind of like all winners.
08:24Yeah, I think we're all winners, but I think I want to win.
08:30Same, but different dreams.
08:32Same, but different dreams.
08:35Studios usually need a little imagination
08:37when it comes to making the space work.
08:40But this place has a little something extra, character and a great location.
08:47So, what does a local estate agent make of it?
08:50We asked one to pop by and give us their take on this lot, guided at £250,000.
08:59So, our first impression is that the flat, so it's got so much potential.
09:02It would have been one huge room originally, shows you how grand these houses were.
09:06So, they're mainly stud partition walls, which could all be moved or taken out.
09:10See, the flexibility you've got here is immense, actually.
09:19So, if this flat was renovated in its current configuration and modernised to a good standard,
09:26what sort of figures could it see on both the sales and rental markets?
09:32As a renovated studio, we're probably looking at renting it for about £2,000 or just over £2,000 a
09:39month.
09:39And on the sales figure, you'd be looking at between £460,000 and £480,000.
09:46The agent also believes that there is space to create a one-bed flat
09:50if you were able to obtain permission from the freeholder.
09:55So, what sort of returns could a buyer expect if they went down this route?
10:01If this flat was refurbished as a one-bed, from the Lessing's perspective,
10:05you should be looking at £2,500 per month.
10:08And on the sales side, you should be looking at something between £525,000 and £550,000.
10:15Harry, what have you made of your first Holmes Under the Hammer property?
10:18You know what? It's been a great experience so far.
10:20First things first, it's a great property, great location.
10:24This could be stunning. Harry, do you want to say the next line?
10:27I've been dying to say this.
10:28Let's see what happened when this flat went under the hammer.
10:31Boom.
10:34This lot was part of a remote auction with bids taking place online.
10:38Third and final time, all done.
10:41So, it's the internet.
10:45The hammer came down at £356,000 with the winning bid from chartered surveyor Brandon.
10:53We first met him in Bushy Heath, a leafy suburb on London's edge,
10:58where he renovated a two-bed flat to kick off his rental portfolio.
11:04Now, Harry and I are catching up with him to find out what he's got planned for his latest project.
11:12Brandon, hello.
11:13Hi.
11:14I thought I would bring along a gladiator today.
11:17Well, thank you so much.
11:18Yes.
11:18Welcome to the mansion.
11:19Thank you so much.
11:20To be far from it, we're twinning right now.
11:21I know, we're twins.
11:22Are you a gladiator or am I the gladiator?
11:24I'm not quite, no.
11:26While we haven't met you before, you look very familiar because you've been on Homes Underworld.
11:30I have indeed, yes.
11:31Yes.
11:32That was your first?
11:32That was my first.
11:33This is my second.
11:34I just snatched it up, grabbed it with both hands, and here we are.
11:37You got it for £356,000.
11:41Yes.
11:41How did you feel about that?
11:42I was delighted.
11:43I was prepared to spend up to £375,000, so the fact that I got it for £356,000, I
11:46was absolutely delighted.
11:48Oh, that's amazing.
11:48So, with that in mind, does that mean you've got a little bit extra for your renovation costs?
11:53It does.
11:53I need to keep it down.
11:54I'm aiming to spend no more than about £20,000, unlike the bushy one where each and every room was
12:00absolutely dilapidated.
12:02This, I want to keep it in the kind of style that it is in now.
12:05It's very grand.
12:06I'm going to have dark wooden flooring throughout the whole thing.
12:09Nice.
12:09I'm going to have 30mm granite in the kitchen.
12:12The windows all need sanding down and repainting.
12:15The balcony needs to freshen up, a repaint, jet wash, etc.
12:19And in the bathroom, I'm going to retire a little and give it a sort of new, fresh look.
12:24Oh, yeah.
12:25Great.
12:25So, new bathroom, flooring, cleaning up the windows.
12:29Kitchen?
12:29So, plans for the kitchen.
12:31My first idea was to turn the kitchen into a bedroom, make it a one-bedroom flat.
12:36However, the jury is still out on that.
12:39The more time I spend in this flat, the more I realise how valuable this room is.
12:43And by taking up half of it with the kitchen and leaving just that strip, I think I'm turning what
12:48is currently a really good studio into perhaps not a very good one-bed.
12:51In my opinion, with a studio, if I was living here, I would rather keep the cooking smells separate.
12:57And I just think leaving it in its current setup is probably the best crucifixion to take.
13:01And so, where are you going to put the bed and things?
13:04How is this room going to look if that's the kitchen?
13:07Well, I also don't know if I'm going to need to furnish this one.
13:10I had to furnish the last one because that was a requirement of the tenancy.
13:13On this one, it will be a sofa bed so that if they want to put it away during the
13:17day and just use it as a sofa, then they can.
13:19TV, etc. I imagined it to be sort of in that corner with a small dining room table here, kitchen
13:25here, and then obviously the bathroom where it is now.
13:27Is this one to sell on?
13:28This is also to rent out, but, well, hopefully the tenant will come with their own furniture.
13:35Sorry to go back to the bed again, but would you consider a fold-down bed if you are furnishing
13:39or a mezzanine up here?
13:41I did consider a mezzanine. That is a possibility and that wouldn't encroach in the space too much.
13:45So, I'm going to have to wait and see what I decided.
13:48As you're building up your portfolio, which is such an impressive thing to do, is £20,000 a realistic budget
13:53for a London dual-upper?
13:55I'm very ambitious and I'd like to think, yes.
13:59So, I've got a great team of builders. I've got a great vision for it.
14:03And if it pushes over £20,000, it pushes over £20,000, but I've got to be ambitious in this
14:08life.
14:08You do, but those finishes are pretty high, like granites in the kitchen and dark wood floors.
14:14So, the dark wooden flooring will be a high-quality wood effect.
14:19I love that.
14:20So, that's the first cost-saving.
14:22The second cost-saving is I'm blessed with the timing of all of this that I happen to have some
14:27very nice 30mm granite lying around.
14:29Oh, yes.
14:30So, that won't cost me too much either.
14:33I need to spend some money on having the holes cut in it for the sink, etc.
14:37But, yeah, it's who you know, not what you know.
14:40I love that.
14:41Absolutely. And how long is this going to take?
14:44I'd like to think that it would be done in the next two months.
14:46Two months? That's quite a short time, which is good because we're impatient to see you.
14:49I can't wait to see it.
14:51I can't either.
14:53Best of luck, Brandon.
14:54So much luck.
14:59Love, Brandon.
15:00Love, Brandon. Fresh face to the property soon.
15:02Absolutely, but so much drive, charisma, and I liked his honesty too.
15:07Yeah, on that topic of honesty, granite work tops, 20k budget, can he do it?
15:12I think he possibly can, but he wants this place to be high-end.
15:17Very high-end.
15:17And you're right, that £20,000 budget, will he do it?
15:20Oh, well, you can find out how Brandon gets on later on in the show.
15:23Get yourself a cup of tea.
15:31We're heading to Somerset now and the seaside town of Clevedon.
15:38Its pier is considered to be the best preserved example of its architectural type, popular with tourists and anglers alike.
15:47But will Martin fall hook, line and sinker for our next auction lot?
15:55Clevedon on the Bristol Channel.
15:57Quite an affluent and well-respected Victorian seaside haunt.
16:04But today, I'm here to see this.
16:08It is a two-bedroom, although looking from the outside, you'd think it's going to be bigger than that.
16:13A two-bedroom house.
16:16It's mid-terrace.
16:18£200,000 for the guide price.
16:20Let's have a look.
16:27I'm going to get the impression from the outside that in its heyday, this would have actually been a pretty
16:33nice house.
16:34Some lovely actual features, like, look at that.
16:37Wow.
16:39Amazing.
16:41There's the trouble of putting beautiful glass in there.
16:43Now, you can actually get this kind of Victorian, what do they call it, embossed or etched glass.
16:51You have to visit an architectural salvage.
16:54But if you take a little piece in, like that, and take that and show them, they'd probably be able
16:58to match it.
17:00Because you definitely would want to put something that was of the same kind as that.
17:04And you'll only actually get that if it's come out of a Victorian house, unless somebody's done a very good
17:09job of creating a repro version.
17:11But, little entrance.
17:12Sure, there was a lot of talking about little entrance, wasn't it?
17:16Blimey.
17:17Anyway, yeah, little entrance area there, through into your big sitting room.
17:22And, again, there's that feeling, this was a grand house.
17:25Cornice thing, really, really lovely.
17:27Or it could be a big fireplace, you'd want to open that up.
17:30And I like the fact that this has already been opened up.
17:34I mean, I suppose, well, I've got to do this, the grand, I can't actually, can I?
17:40No, does that move?
17:42OK, you can't actually.
17:43But anyway, I was about to do a grand thing, look at that, ha, here I am.
17:47A bit of drama.
17:49But no, it's really nice, and it's really opened up.
17:51This is a brilliant house!
17:55Through to the kitchen, and it's in a bit of a state.
17:58The units are very outdated, and the whole thing likely needs to be redone.
18:05On the plus side, there's ample storage space, and lots of light coming through the back door.
18:14Outside, the back garden is in desperate need of a trim, and contains a dilapidated shed.
18:21There's actually an option for rear access, so a garage or simply off-street parking would be a welcome addition.
18:28Now, let's catch up with Martin on the first floor.
18:35So, upstairs, an intriguingly small number of bedrooms, just two, but straight away, I'm seeing this, which is an absolutely
18:43massive bathroom.
18:45Looks like it's got a brand new board as well, that's good news.
18:48What are you thinking? Right, yeah.
18:50Bedroom.
18:51That's your third bedroom, for sure.
18:53But then you need to have a bathroom somewhere, but the rooms are absolutely huge.
18:59First bedroom there, and then through to the front of the property, where you've got this absolutely enormous room as
19:05well.
19:05So, I'm thinking, right, lose some space off that bedroom there, in the middle, to create a bathroom in the
19:14middle there.
19:15You could even have an en suite in this room, in that corner.
19:19So, an en suite there.
19:21Gap in the middle, that's going to be your bathroom.
19:24That's another bedroom.
19:25You've got three bedrooms, family bathroom, en suite.
19:28Job done.
19:33That's transformation into a three-bed house, along with some simple renovations downstairs, could add a lot of value.
19:43But what's the professional opinion?
19:46We invited a property expert from the auction house that sold this lot, to get their thoughts and valuations on
19:52this two-bed mid-terrace, guided at £200,000.
20:00So, we're in a Victorian terrace property, quite dated, everything needs doing, but it's a classic layout.
20:06You've got two floors, small extension at the rear, two bedrooms upstairs, big bathroom, a couple of receptions downstairs.
20:15Probably easier to start with what doesn't need doing, and that's pretty much nothing.
20:19So, as you work your way through the house, you need decor throughout, everything in terms of kitchens, bathrooms, electrics,
20:26windows.
20:26The roof and the general structure of the property looks to be okay, or certainly appears to be, but no
20:31doubt, as you dig into it, you'll find little horrors as you go on.
20:36If it were renovated, with Martin's idea of adding a third bedroom, what could it achieve on the sales market?
20:45So, historically, along the terrace, prices have achieved just below the £400,000 mark.
20:51I'd assume if you can do a decent job, you should be able to hit that kind of level.
20:56And for rental?
21:00Converted into a three-bedroom family home, you'd expect to get a rental income of about £1,200 to £1
21:05,400 per calendar month.
21:09Well, obviously, in need of a major refurb, but definitely one you could add value to, especially if you think
21:15about jiggling with the layout.
21:17Let's see who bought it when it went under the hammer.
21:24This lot was snapped up when a pre-auction offer was accepted.
21:28Off to your soul.
21:35And it was property developer Ben who paid £220,000 for it.
21:40Based in Somerset, he already has a rental portfolio in the south-west, and today he's here to tell Martin
21:47his plans for his latest venture.
21:50Ben, good to meet you.
21:51And you.
21:52Congratulations.
21:53Tell me why you wanted to buy this house.
21:56Basically, scope to convert into two flats.
21:58Flats?
21:58Yeah.
21:59Is that what you're looking for?
22:00Yeah, I think so.
22:02Ideally, good way to add value.
22:04So, ground floor, one-bed flat, and then upstairs, two-bed flat if I can.
22:07Oh, wow. Obviously, that requires planning permission.
22:11Yep.
22:12Is there an enthusiastic response from the council about that kind of thing?
22:18I think so, and there's also precedent as well down the street.
22:21Is there?
22:21There's a couple on the street that have already been turned into two-bed flats.
22:24Can you talk me through the economics of that?
22:27Why the first thing you thought about was doing flats?
22:30Because I generally do buy and hold, and two flats makes a lot more sense than one house in terms
22:35of rent yields.
22:36Right, so you're going to rent them out separately.
22:38Okay.
22:39So, how would you split the entrances, then?
22:41Where will the entrances to flats be?
22:42Same to your entrance, and then I'll probably have entrance to flat one here, basically where you're stood.
22:48Right.
22:48And then corridor through.
22:50This will be a bedroom.
22:51Open up there and try and create a nice living room-come kitchen.
22:55Probably knock out a bit of that opening to widen up the kitchen.
22:59And then do a small extension on the back to form a bathroom.
23:02Oh, wow.
23:02So, the small extension is only probably about two metres by two metres.
23:06It's not going to be big, but it just adds to that bathroom space and brings it up to about
23:0940 square metres,
23:10which is kind of what you want for a one-bed flat.
23:12Okay.
23:13Then upstairs, loft conversion.
23:15Yeah, nice flat-roof dorm off the back.
23:17It's going to be a maize net, effectively.
23:19Okay.
23:19Yeah, so a two-bed flat with a bedroom on it on the top.
23:23Wow.
23:24What about the back?
23:25Because you've got an interesting opportunity there, I think.
23:28What are you thinking about doing there?
23:30Parking.
23:30Yeah.
23:31Parking in the garden, really.
23:32I'm probably going to get one parking space in there.
23:34If I can get two, I'll be very happy.
23:36But I don't think that's going to happen.
23:38I don't think, in terms of width, I'm going to be quite there.
23:40What about the original features?
23:42I like the little porch way and the glass there.
23:45No?
23:45They're going.
23:46Are they?
23:47Sorry.
23:47I mean, we're going to drop the ceiling in here.
23:49Drop it?
23:50Yeah, so just completely take it out.
23:52Why?
23:53Well, sound and fire, if it's being two flats.
23:56We'll keep the nice flooring as you come in.
23:59Okay.
23:59That will stay.
24:01Porch's going to go.
24:02And unfortunately, that corbels, that's going to go as well.
24:04Corbels being the things around the arch.
24:06The ornate arch.
24:07So, unfortunately, quite a lot of the Victorian features are going to go.
24:11But we're going to have a really nice, modern, Victorian-style property instead.
24:17Right.
24:17Well, fair enough.
24:18So, what's the budget for all this?
24:20A hundred grand.
24:21Under, hopefully, under a hundred.
24:22But that includes all professional fees.
24:24Okay.
24:24That's everything.
24:25And what's the time scale?
24:26Twelve months.
24:27Okay.
24:28But are you going to sell them or are you going to rent them out?
24:30Rent them both out.
24:30Okay.
24:31Now, tell me about you.
24:32Because is this what you do?
24:33You're talking with great authority.
24:35Yeah.
24:35Well, I used to be a building surveyor.
24:36Oh, did you?
24:37Oh, wow.
24:38There we go.
24:38So, I was formerly, before that, an estate agent.
24:41Oh, right.
24:41But I realised being an estate agent and not really knowing anything about houses wasn't
24:45very good.
24:45And this probably definitely appealed to me a lot more than being a building surveyor.
24:50So, yeah, I went for this.
24:52And how long have you been doing it for now?
24:54Full-time.
24:54This is year three.
24:56Right.
24:56But I was doing it, I've been doing it for, well, since I was 21.
24:59So, we're on number 11.
25:01Oh, wow.
25:01So, lots of evenings, lots of weekends.
25:04Yeah, for ten years.
25:05Have you done flag convarses before?
25:07This is my first one.
25:08Oh.
25:08I've always previously done full refurbs.
25:11So, this is the first time I'm doing something that is breaking something up.
25:14Wow.
25:15Not daunted, though?
25:16No, not really.
25:17Right.
25:17It's, yeah, seems all right.
25:19So, what do you get up to when you're not doing this?
25:22All sorts, really.
25:24Keep very busy outside of work.
25:27Sailing, got into that quite recently and I'm really enjoying it.
25:31Rugby, you name it.
25:32Right.
25:33And family?
25:33Family.
25:34My partner's expecting our first boy.
25:38Oh, congratulations.
25:39First child.
25:40So, when's that?
25:41Four months' time.
25:42Oh, wow.
25:43Yeah, the project might stall a little bit as a result, but we'll see.
25:47So, when we come back, you might even be with your small person.
25:51On his first property investment as well.
25:54Well, listen, congratulations.
25:55Good luck with it.
25:57Look forward to seeing how you get on.
25:58Cheers.
26:01So, Ben's first flat conversion, but he certainly seems to know what he's doing.
26:05Although, there is a lot going on in his life at the moment with his first child on the way.
26:11How will it all turn out?
26:12You can find out later in the show.
26:17Coming up, we return to 2009 and a property that might have been big on charm, but came with...
26:23It's the smallest bathroom I've seen in a very long time.
26:28And back in Somerset.
26:31Has one become two at the Clevedon House?
26:40We're back in Earl's Court, West London, where I was joined by a man who's fast on his feet and
26:46fierce in the arena.
26:47World-class sprinter and gladiator, Harry Akins Arete, better known as Nitro.
26:54I'm good to go.
26:56I'm ready for it.
26:56Martel, are you ready?
26:57Nitro, I was born ready.
26:58Of course you were.
26:59Let's go!
27:05And together, we checked out this studio flat with a guide price of £250,000, and Harry wasted no time
27:14making himself at home.
27:15Now, this is a gladiator-type space I could get used to.
27:20This one caught the eye of chartered surveyor Brandon, who we'd met before.
27:25Property was a side business for him, and he picked this up for £356,000, and had a £20,000
27:33budget to get the place rental ready.
27:40Is £20,000 a realistic budget for a London dual-upper?
27:43I've got a great vision for it, and if it pushes over £20,000, it pushes over £20,000, but
27:48I've got to be ambitious in this life.
27:51Give me just a chance and let me win with you.
27:55Brandon was considering converting it into a one-bed or even adding a mezzanine, but whatever the plan, he hoped
28:02a team of trades could get it done in around two months.
28:06Now, nearly four months on, we're back.
28:09You inspire me, said the face, the leader of the pack.
28:13I made my way aboard so I could win with you.
28:18It certainly looks like Brandon has won with this renovation.
28:23The flat is now clean, modern, and the layout has remained unchanged.
28:27So if I stay with you, I'll be a winner too.
28:32The more time I spent in this flat, the more I realised that the sort of downside of a studio
28:37is not sleeping in the lounge, it's cooking in the lounge because of the cooking smells.
28:41And the fact that we have the benefit in this flat of keeping the kitchen separate, I wanted to stick
28:45with it.
28:46So I've stuck with the original layout and now that I've seen it finished, I'm delighted with my decision.
28:53The main living and sleeping space still has plenty of charm.
28:57And those lovely period windows are now restored and painted along with the balcony.
29:05The kitchen's been cleaned and updated with new appliances and for now, the old worktop has stayed put.
29:13There is granite on its way. This is coming from one of my other jobs.
29:17Unfortunately, there's been a bit of delay with the builders on that one.
29:20So the granite is not in currently, but it will soon be in there.
29:23And the sink that's currently in there is going to come out as well.
29:25We're going to replace it with an undemounted sink and a completely new kitchen tap, which will just finish off
29:30the look of it.
29:32And the bathroom has had a similar refresh, leaving the flat looking smart and ready to rent.
29:40We've got new tiles for the splash back.
29:43I've put a new towel rail in there and we've got new panelling all around the shower itself.
29:48The whole bathroom has been painted and all the shelving in there has given a refresh and it's now white
29:53and fresh and nice.
29:59Balancing his day job as a chartered surveyor, Brandon managed this project in his spare time.
30:05And once the builders were on site, the work ran relatively smoothly, thanks to his trusted team.
30:13Yeah, the same team of builders that did my last property.
30:15They're very loyal and I'm loyal to them.
30:18They're absolutely brilliant, did it in the time frame that I wanted and for an excellent price.
30:23So, yeah, really can't complain. I'm very grateful to them.
30:27High praise indeed.
30:28But did the builder's excellent price mean he was able to stick to his £20,000 budget?
30:34We've spent just shy of £10,000.
30:38Part of that was due to the fact that I haven't actually paid for the templating, cutting and installing of
30:44the granite,
30:45which is due to happen, which will be another couple of thousand.
30:47Also, because really nothing actually went wrong, I sort of left a provision in the budget this time in case
30:52anything had gone wrong.
30:54And thankfully it wasn't needed.
30:56Brandon's budget also benefited from keeping the original layout, leaving him with around £8,000 to spare, which is a
31:04solid result.
31:09And it brings Brandon's total spend, including the original purchase price, to around £368,000.
31:18So hopefully this flat has been and will continue to be a solid investment.
31:23We invited a local estate agent to take a look around and hear their thoughts on the work and find
31:30out how much the studio could now be worth.
31:33So this is my first time in the property.
31:36I think this layout for a studio apartment works well.
31:40We have a really good size living area here, so it's going to be adaptable in terms of how you
31:46configure it.
31:47I think had we moved toward trying to reconfigure this as a distinct one-bedroom apartment, it would have compromised
31:55the layout.
31:58It sounds like Brandon has made a smart decision.
32:02So how do things look when it comes down to the numbers?
32:05How much could the flat now be worth on the open market?
32:09I think this property in the current market would sell for something approaching £400,000.
32:17OK, I mean, it's slightly less than what I anticipated it to be worth, but equally I'm not selling it.
32:23I'm going to hold on to it, so hopefully the price will only go up.
32:29Even if Brandon thinks the figure is conservative, it would see him with a pre-tax profit of £32,000.
32:37But rental is the plan, so what sort of income could it generate?
32:42I think the property has the capacity to rent for £2,000 per calendar month.
32:49I don't see it going past that.
32:53Again, Brandon thinks this rental estimate is a little on the low side, but it would still bring in around
33:00£24,000 a year, a yield of roughly 6.5%.
33:06Property number two looks to have been a success, and he now has his sights set on more properties in
33:12the future.
33:13But with this one drawing to a close, how does he feel it's gone?
33:19I'm delighted. I mean, this one definitely wasn't in as poor of a condition as my first one was, so
33:25perhaps slightly less of a transformation.
33:28But at the same time, I'm delighted to have given it a new lease of life, and I think it's
33:32an absolutely brilliant property.
33:36Time now to delve into the archives, and we've pulled out a property we first saw in October 2009.
33:43Well, today I'm in glorious Devon, and I thought we'd start with a bit of grandeur.
33:48That is Powderham Castle, home to the Courtney family and seats of the Earl of Devon.
33:54Well, after that, I bet you can't wait to see what was up for auction.
33:59And close to the Powderham estate was the pretty village of Kenton, and in this rather idyllic location, there was
34:07a grade two property up for auction.
34:09Well, right in the heart of the village of Kenton, just opposite the beautiful local church, is a row of
34:15terraced houses.
34:17So, give them the game away, then, because I'm not here to see a castle, but something which I think
34:22has potential to be very, very interesting indeed.
34:25Two-bedroomed house, had a guide price of £100,000. Let's go inside.
34:30Whoa, seriously impressive front door. That's what you call a grand entrance.
34:36Through into, I guess this is the living room, it's nice to have it, it's open fire there.
34:40Some very strange stuff going on.
34:42All this glass up the side of the staircase there. Unusual.
34:48Through into a rear, kind of, sitting room area.
34:53No natural lighting here, other than stuff that's coming through from both the living room and the extension to the
34:57kitchen there.
34:58And all this stone on the walls. It makes it feel dark and fairly dingy.
35:02And then, wow, look at that.
35:04It's, um, well, it's a range cooker for small people. It's almost like one of those children's ones, isn't it?
35:10Not very practical, I have to say.
35:12So, all in all, it's kind of quirky.
35:17At the back, the kitchen was small and definitely in need of modernisation.
35:22But with the second living room adjacent to it, there was the possibility of opening it up into a kitchen
35:28diner to make a more impressive space.
35:31Upstairs, the two bedrooms were in need of a full refurb.
35:35And even though they weren't the biggest bedrooms we've ever come across, that was nothing compared to the bathroom.
35:41Well, upstairs, two bedrooms and the smallest bathroom I've seen in a very long time.
35:48Including a very, very odd Japanese-style mosaic bath.
35:52Now, quite a while that's there, I don't know.
35:54Because it has to be very small to make the most of that.
35:56Probably take that out, put a shower cubicle in its place.
36:00In terms of moving the bathroom, I think your options are fairly limited.
36:03But, you know, as I said, shower cubicle, that would at least improve things.
36:07From what is very, very, very, very odd.
36:13If the bath was a little odd, there was also something a little strange outside that needed to be investigated
36:20further.
36:27Well, out at the rear of the property here, it just keeps getting quirkier and quirkier.
36:31There's this little courtyard, fair enough.
36:33But then here's something you don't see every day.
36:36This is actually a Victorian piggery.
36:39Now, in the days before refuse collections and wheelie bins, you'd actually have a pig out here.
36:45And you'd feed it scraps from the kitchen, even ash from the fire.
36:49And then, of course, when the time came, a bit of bacon for your sandwiches.
36:54What would you do with it now?
36:55I don't know, maybe it could be an additional room, maybe a workshop.
36:58Oh, how about this? A teenager's bedroom.
37:01Well, they're usually a pig style, aren't they?
37:04Before it was going to be anyone's living space, it would need to be made more solid.
37:10But through a sliding door, there was another room that had got running water.
37:15So perhaps combined, they could have been converted into something useful.
37:19Another quirk of the house was that to access the garden, you had to go down a communal path.
37:25But once there, it was a good size.
37:27And at the bottom of this wildlife oasis, there was a garage that could be reached through a car park.
37:34But to find out more about the local market, we asked the auctioneer who sold the house in the first
37:39place to come and tell us more.
37:42Kenton is a really pretty little village.
37:45Most of the houses in Kenton are going to be a little bit on the older side.
37:48It's kind of the village that served Paradigm Castle Estate, just about three quarters of a mile along the road.
37:55You can get not as much for your money here as pretty well anywhere.
37:59It's quite a hot spot.
38:01Clearly, the area was a highly desirable place to live, which would mean demand for the property was high.
38:06Guided at £100,000, was that demand likely to generate good returns on the resale and rental markets once the
38:14property had been fully renovated?
38:16If done up to a reasonable letting standard, you could be looking as much as £675 a calendar month.
38:24If the new owner did an absolutely stunning job, the property might be worth a little bit over £200,000,
38:33but I just get a feel that that's about the cap whatever you do.
38:39So, the garden, the garage, even the little shed there.
38:44I mean, it's just all the icing on the cake of what is a fascinating and actually quite charming little
38:50property.
38:51You're close to Exeter, a lovely little village, and for £100,000, I'm sure it got them absolutely buzzing when
38:58it went under the hammer.
39:0151. What a pretty, pretty little house.
39:03It's going to say £100, straight in. Bang.
39:05£100 we've got. At £100. At £100.
39:07Well, there it is. At £100.
39:08£102. Front row. £102.
39:10£104. I'll focus on new chaps.
39:12£104.
39:13£106.
39:14This was a very popular lot, and we rejoined the bidding at £153,000.
39:20£153,000's at the back.
39:22£153,000.
39:23£4,000.
39:24£154,000.
39:25£155,000, he is.
39:27£155,000.
39:27£155,000.
39:28A little one, if it'll help. Try and help you back.
39:31£155,000 and a half.
39:32£155,000 and a half.
39:33At £155,000 and a half.
39:34All done. It will be sold.
39:35Make no mistake.
39:36At £155,000 and a half.
39:38Glancing back at the phone.
39:39At £155,000 and a half.
39:41Sir, yours.
39:42Congratulations, gentlemen.
39:43Well done.
39:47And that successful bid of £155,500 was made by Richard and his wife, Jill.
39:56They had renovated properties in the past, and Martin met them back at the two-bed, grade-two-listed Kenton
40:04Home to find out more.
40:07Richard, Jill, lovely to meet you both. Congratulations.
40:11Tell me why you wanted to buy this place.
40:13Well, basically, we've been looking for a property to buy at auction for quite a few months.
40:16We missed one at the last auction, and I saw this one on a Saturday afternoon on the internet, and
40:22I liked the look of it.
40:23And I came down with my youngest foster child, because Richard was busy, had a look at the outside, and
40:27my little boy was really enthusiastic.
40:29And because I'm actually buying this property with some money from my late mother, who died recently, I wanted to
40:36feel right.
40:36It was very important that it was that she felt right using her money for something we'd enjoy as a
40:42family.
40:43So tell me a bit more about you two, then. What do you do when you're not doing this?
40:46Well, basically, Richard and I are both long-term foster carers.
40:49We've been working for Devon County Council for around about ten years now.
40:53We do baby placements as well.
40:55Yes, we have little ones and teenagers.
40:57Yeah, we're very lucky as well, because we live on a farm, and they've got lots of space to run
41:01around and scream and shout and be children, which is great, really.
41:05Animals as well?
41:06Yes, yeah, we've got sheep, dogs, cats, there's a menagerie, there's lots of stuff we have, yeah.
41:13So, thanks to the money left to Jill by her mum, they had this interesting property to look after as
41:20well.
41:21So, Richard, what did you think of it when you first saw it?
41:23Well, I saw the property needed a lot of work doing to it.
41:27And I think it's going to take a long time to do it, but it's a lovely-looking property and
41:31a great setting, and I think it's well worth a go.
41:34So have you done this kind of thing before, Richard?
41:35Yeah, it's not the first time I've done things like this before, you know, restore old buildings, sometimes do churches,
41:42barn conversions, all those sort of things.
41:44Are you a builder?
41:44I'm a builder, yeah, that's right.
41:45So it doesn't send too much of a challenge to me, you know, although I can see there's lots of
41:49pitfalls and problems on the way, but nothing we can get over.
41:53So tell me what you're going to do to it.
41:55Well, we'd like to actually restore the property as much as we can back to how it would have been
42:00in, say, 1890s.
42:02We'd like to take out the modern 70s-style fireplaces, and hopefully there'll be a nice Victorian brick fireplace underneath,
42:09possibly put wood burners in there.
42:11We need to put a new bathroom in, probably move the bathroom where it is now so it works more
42:16effectively.
42:17How are you going to reconfigure the bathroom and the bedrooms?
42:21Well, the end bedroom is going to become the bathroom, and the bathroom become the bedroom, and that's going to
42:25be done by moving walls around, and then the bedroom will have double-aspect windows.
42:30And you've worked out the plans for this, and it all sort of works, doesn't it?
42:32Yeah, yeah, I've measured it all up, measured the rooms up, and done it all to scale, and yes, it
42:36will fit in.
42:37So what about the courtyard and the old piggery? What are you going to do with those?
42:40I just think that the piggery's going to lend itself to a really nice Victorian-style kitchen.
42:46A kitchen?
42:46Yes, kitchen, because it's south-facing, you've got lots of light, and to link the piggery to the main house,
42:53we'd like to put in a passageway with a glass roof and a large, either double doors or a single
42:58door to let the light in.
43:03That sounded wonderful. Getting the extra light into the house was certainly going to help, but as it was a
43:09listed building, they were going to have to liaise closely with the planning office.
43:14So, any idea how much this is going to cost?
43:18Well, I think £20,000.
43:20I think we've got to allow at least £25,000, because I want to do it properly.
43:24I want to have good quality materials, and I want it to last, you know, so it's not just a
43:29quick do-up to sell.
43:31We want to keep this property.
43:32So, what's the sort of bigger picture plan for the property, then? Are you going to live in it or
43:36rent it out?
43:37Yes, we've actually got a very good friend who's going to rent it from us, and she lives just up
43:41the road from here.
43:42She's with her partner. She's got a dog and two cats and no garden.
43:46Now, she's going to look after this property.
43:47They're going to be involved in helping us do some of the work, and they'll be able to say that
43:51they've actually helped in creating their home.
43:53It's our house, but it's going to be their home, so.
43:56Well, listen, I think it's great that you found the house and the house found you.
44:01I really look forward to seeing how you get on.
44:02OK, thanks very much.
44:05So, there you go.
44:06Richard and Jill falling for the obvious charms of this place, and who can blame them?
44:10And great news, they've got a tenant lined up to move in already.
44:13Before that happens, though, they've got to sort the place out, and that means listed buildings, approval, etc, etc.
44:18How are they going to get on in the timescale? You can find out later in the show.
44:27A return to Somerset now, at the seaside town of Clevedon, where Martin saw a two-bed mid-terrace that
44:34came with an auction guide price of £200,000.
44:38And when it came to the layout downstairs, it had already ticked one of Martin's boxes.
44:43I like the fact that this has already been opened up.
44:46Yes, it's in a bit of a state, but I love it already.
44:50But upstairs, a massive bathroom wasn't the best use of space.
44:55What are you thinking? Right, yeah.
44:57Bedroom. That's your third bedroom, for sure.
45:00The successful bid of £220,000 was made by building surveyor-turned-property developer Ben,
45:07and his plans were a little grander than just adding a third bedroom.
45:12Basically scoped to convert into two flats.
45:14Flats?
45:14Yeah, because I generally do buy and hold, and two flats makes a lot more sense than one house in
45:19terms of rent yield.
45:20Ben had a timescale of up to a year to account for any delays with planning permission,
45:26and he had a budget of £100,000 to complete the project.
45:30Now, 17 months after our first visit, we're back.
45:43The renovations are complete, and the house looks fantastic.
45:47But the layout downstairs is the same as before, apart from the addition of a toilet under the stairs.
45:54So what happened to Ben's plan to turn it into two flats?
45:58So, yeah, unfortunately in the end, planning didn't go ahead.
46:02We did two applications.
46:04First one was a straight no, second one took a little bit longer before they said no,
46:09and then ultimately we've gone down the route of conventional family home.
46:14So, with Ben keeping it as a single dwelling,
46:17did he take on any of Martin's advice when it came to the layout upstairs?
46:24We've turned it from a two-bed into a three-bed by shifting the bathroom.
46:30I've stolen some room from bedroom two to create a bathroom,
46:34and then created a small box room instead.
46:37So it's been me and Harvey, my labourer, from start to finish, just the two of us.
46:41Everything we've done here has pretty much been the two of us, barring the electrics.
46:46Not much of what was here before is left.
46:48It's pretty much been gutted.
46:52I think the only thing that left is the quarry tiles on the ground floor.
46:55Apart from that, it's back to brick, new floors, brick plastered out.
47:00This is pretty much the same as every single other one that I've done.
47:04Plain white walls, grey carpets, same thing again and again.
47:10Martin will be pleased to see some of the original features intact.
47:14The interior has come together brilliantly, but did the exterior receive the same level of love?
47:24It's just been redecorate and re-landscape out the front,
47:28trying to just smarten it up and make it really clean and easy to maintain.
47:32Out the back was quite a lot more work, lots of garden clearance,
47:35and creating a parking space out the back.
47:38It's been quite a lot of work, but yeah, certainly got the calories in.
47:45The parking space is a clever bonus,
47:47as it will likely make the property more appealing to families.
47:52And speaking of families, I believe Ben was awaiting a new edition of his own.
47:58Yeah, Max is here, all fit and well, running around,
48:02so causing carnage and just being a menace.
48:06But he's absolutely great.
48:10Who knows, maybe one day we'll see Max take his first steps onto the property ladder.
48:16But when it came to this renovation,
48:18the delays waiting for the planning permission
48:20meant that the progress sometimes felt like baby steps.
48:24The original timescale was 12 months.
48:26Obviously, we've gone over that.
48:28We did spend pretty much 12 months in planning
48:30to not get any planning permission agreed.
48:32The actual timescale of the project was seven months,
48:35just creating this into a family home, which we've hit as well.
48:39An increased timescale can often lead to a higher spend.
48:43But with Ben pivoting away from the conversion to two flats,
48:47was he able to save on his original budget of £100,000?
48:51That kind of went out the window
48:52the moment we found out we weren't going to get planning permission.
48:55So as a result, revised budget came down to £50,000,
48:58and we've hit that at 50, pretty much on the nose.
49:03This brings Ben's total investment to £270,000.
49:08But now that he'll be getting rent for one three-bed house
49:12instead of two separate flats,
49:14will the numbers add up to a fruitful return?
49:17We asked back the expert who viewed it last time to find out.
49:22Coming back to the property, really impressive.
49:24He's done some very sensible moves,
49:28made one being creating that third bedroom
49:30and the extra bathroom and the parking at the back.
49:33You've got this nice open plan set up down here as well.
49:35This is what people want.
49:38So how much value has the third bedroom added?
49:41How much does the expert think the house is currently worth?
49:44The property has a value of approximately £365,000.
49:49That's pretty much where I was at, so that's, yeah, that's good.
49:54A sale could see Ben with a return of £95,000 pre-tax profit.
49:59Lovely stuff.
50:00But will the rental returns be as positive?
50:04The property would rent for approximately £1,300 per calendar month.
50:09That's quite a lot lower.
50:11My estimates on that are about £1,500 a month so far,
50:15so we'll wait and see.
50:17The agent's figure would see Ben with a yield of 5.5%,
50:21but he's hoping to get closer to 6.5% with his higher rental goal.
50:26Ben's original plan to convert the property into two flats
50:29may not have worked out,
50:31but the stylish family home he's delivered instead has paid off.
50:35So has this unexpected success changed the way he'll approach future renovations?
50:41Never flat conversions again.
50:42Just nice and easy houses, flats, keep them the same,
50:47refurbish them and rent them out.
50:53A return now to our archive pick,
50:56a Grade 2 terrace cottage in the Devon village of Kenton.
51:01It was bought for £155,500 by Richard and Jill,
51:06using money Jill had inherited from her mother.
51:09The couple, who lived on a farm,
51:11had renovated properties in the past.
51:14With this one, they planned to convert the old piggery at the back of the house,
51:19change the layout upstairs,
51:20and then they were going to let it out to some friends.
51:24When we returned six months later,
51:27with help from their daughter's boyfriend, Lyle,
51:29it looked like they'd really transformed it.
51:40The dark middle room was bright and light,
51:43having been knocked through into the former kitchen.
51:52Upstairs, the smallest bedroom had become the bathroom,
51:56and the compact bathroom had become a second bedroom.
52:05Walls had been moved and some character features added,
52:08such as a Victorian fireplace.
52:11But of all the alterations,
52:13the biggest one came in the former piggery and utility space.
52:22Well, as you can see, this used to be the piggery,
52:24but now we've turned it into a kitchen.
52:26It links to the house via a glass passageway,
52:28which you'll see later on.
52:29And as you can see, we've restored the beams,
52:32we've taken the roof off, put a new roof on,
52:34insulated all the walls, and actually rebuilt everything.
52:37I think this is probably one of the favourite rooms that we have.
52:41They had linked this rather splendid kitchen
52:44to the rest of the cottage
52:45by building a glass roof passageway,
52:48which was wide enough for a small table and chairs,
52:51an ideal space to sit and enjoy your breakfast.
52:54Although they had managed to do most of what they'd envisaged to the property,
52:58its Grade 2 listing did stop one of the proposed layout changes.
53:02Yes, our original idea was to take down the wall
53:05from the first room in the front of the house
53:08to actually join the middle room
53:10and make a larger sitting room at the front of the property.
53:13The listing officer didn't actually want us to do that
53:17because that was the original wall
53:18when the house was first built in 1857.
53:21But we were allowed to take out the further wall,
53:25which was originally the outside wall of the property.
53:28But even without that change,
53:30they had still managed to create a stunning home
53:32over 150 years after the first brick was laid.
53:36But how hands-on had Lyle been?
53:39And when did he first get involved?
53:41Well, right from the start, near enough,
53:44just knocking things about, rebuilding them,
53:47generally rebuilding more as well,
53:49exposing new things and just kept going on and on, really.
53:53Upstairs, we've taken the bathroom out of the bedroom
53:57and then swapped them all around,
53:58so the footprint upstairs has totally changed as well.
54:01Basically, this was the original bathroom.
54:03The wall actually came along here
54:05and finished in, like, a triangular shape here.
54:09So we've reconfigured all of this now.
54:11We've moved the wall back
54:12and pinched a little bit of room from the bedroom next door
54:16and actually made the second bedroom into a bathroom,
54:19so that's a lot bigger and more usable.
54:23So with the internal spaces in the cottage complete,
54:26there was just the matter of tackling the garden
54:29that was reached by a path at the back of the house.
54:33It had been cleared right back
54:35and you could really appreciate how large the plot was.
54:38But with everything now finished,
54:40had they kept the budget under control?
54:43I think we've blown the budget, really.
54:46My wife said, um, 25,000.
54:49I think we've probably gone 28,000.
54:52OK, so a little overspend, but still not bad.
54:56And they already had friends ready to move in and rent it.
54:59Or did they?
55:01Uh, no.
55:02Um, that kind of changed a little bit.
55:04They decided that they weren't going to take over the property, so...
55:08But it's good for us, in a sense,
55:10because we're now going to probably holiday let it
55:12and get some enjoyment out of it.
55:14A holiday let sounded like a good idea.
55:17But what would two local property experts
55:19think of this comprehensive overhaul?
55:22The changes are quite spectacular.
55:25I thought I'd walked into the wrong house.
55:26It really is special.
55:27So much light now.
55:28The property has been sympathetically renovated
55:30to a very high standard.
55:31And I particularly like the linking up of the original piggery,
55:34which is now the kitchen.
55:35There'd be good demand for this property in the rental sector.
55:37And I would expect to achieve a rent of around £750 a calendar month.
55:41On a per calendar monthly basis,
55:43you could probably tiptoe towards £650...
55:48Yeah, around £650 per calendar month.
55:51Those figures for a long-term rental
55:53represented a yield of around 5%.
55:55But Richard and Jill wanted to see
55:58how it might do as a holiday let.
56:00The property would work well as a holiday let.
56:02It's only six miles from the South Devon coast at Dawlish.
56:04And I would expect to achieve, in the high season,
56:06something around £550 per week.
56:09For the peak holiday weeks,
56:10you could be looking to achieve
56:12getting on for £650 a week,
56:16or maybe even £675.
56:17That's very good.
56:18Oh, we'll go for the second one.
56:19Yeah, that's very good.
56:20That'd be lovely.
56:21That's excellent.
56:23With the average occupancy rate of around 30 weeks a year,
56:27that could have pushed up their rental yields
56:30to nearer 10%.
56:31And they would get the benefit of using it themselves
56:34from time to time.
56:34But how much had they increased the value of the house
56:38they had invested a total of £183,500 into?
56:43If the house was mine and I was going to sell it,
56:44I'd put it on the market at £250,000,
56:47and I'd hope to get above £235,000.
56:52A similar property has sold recently for £245,000,
56:56and I would expect to achieve a figure in that region.
56:59So there was a potential pre-tax profit in the region
57:02of £50,000 to £60,000 before the usual selling expenses.
57:07Jill had made good use of her inheritance,
57:10so would she have considered selling it on and taking the money?
57:16I don't think we'd ever really want to sell it.
57:18I would like to be able to pass this on to my grandchildren,
57:20and I think the fact that Richard's worked so hard
57:23and Lyle's worked so hard,
57:24and I just think it'd be really nice to stay in the family, actually.
57:29We feel really welcome.
57:31We feel we belong here, and we weren't expecting that.
57:34You know, I may have lost my mum,
57:35but I feel we've gained other friends,
57:38which would be something that she'd really be happy about.
57:45So that brings us to the end of today's show.
57:48I've had an absolute blast
57:49seeing some first-class property transformations.
57:52I've enjoyed having you here so, so much,
57:54and actually it's been quite inspirational.
57:57So much so that I've been in a bit of training myself.
58:00Really? So what are you thinking?
58:02A sprint finish to end the day?
58:03Yeah, is that OK?
58:04Yeah, let's go.
58:05Are you sure?
58:05I'm sure.
58:06OK, Harry.
58:07Yeah.
58:07Three, two, one.
58:11Harry, what's that?
58:11What's what?
58:14I'm coming!
58:30I'm coming!
58:35I'm coming!
58:35Look culture!
58:38Hi, I'm coming.
58:39I'm coming!
58:41You
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