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Homes Under The Hammer S29E02
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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.
00:33As 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.
01:42Well, we both travel to Earl's Court, where Harry gets off to a flying start.
01:49Two 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.
02:39And 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.
02:52So, I brought you to West London and Earl's Court, which is super close to Chelsea, Kensington, so lovely neighbourhoods.
03:00What do you think?
03:01Do you know what? I'm so impressed.
03:02I believe we're five minutes away from a tube station.
03:05I love the area and I love the street.
03:07And do you know what? The houses here are so grand.
03:10Oh, they're so grand.
03:12And the one we're here to see, well, it's over here.
03:15This one here?
03:16Up here. It looks rather handsome, doesn't it?
03:18Wow, it looks lovely.
03:18The guide price was £250,000.
03:21It's a studio flat, and it's up a few flights of stairs.
03:24But I don't think you'll have a problem with that.
03:26What, Martell, I'm good to go. I'm ready for it. Martell, are you ready?
03:29Nitro, I was born ready.
03:30Oh, of course you were. Are you ready?
03:31Three, two, one.
03:33Let'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.
03:50And nice ceilings, you know?
03:51Yeah, good feeling of space.
03:53And I was just thinking, though, as a former GB sprint champ,
03:57I wouldn't mind finding 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.
04:08On nitro.
04:08I'm always ready to train. I'm always ready to go.
04:10So, you know, obviously, let me get prepped and ready.
04:14And, er, are you ready?
04:16On my first whistle, three, two, one.
04:25Two flights of stairs.
04:29I made it!
04:36So, how did I do?
04:37Not bad.
04:38OK.
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?
04:51First up, Harry, we've got the bathroom.
04:55What do you think?
04:55The bathroom's quite spacious, but in all fairness,
04:58I think the majority of this is going to come out, right?
04:59Give the place a little bit of pizzazz.
05:01Yes, pizzazz!
05:03OK, next up, we have, well, this is kind of your reception room
05:08or your sitting room, but it would also be the place that you sleep.
05:11This is it, Harry.
05:12Your living lounge, as you would call it.
05:15But to be fair, the high ceilings continue in,
05:17which I'm a big fan of.
05:19Well, if we come over here, we've got the kitchen, OK,
05:22which also has high ceilings.
05:24I think what's awesome is having the opportunity
05:27to put shelves all the way up.
05:29You could have your pots, your pans.
05:30In most circumstances, the kitchen's the heart of the home.
05:33It's obviously where I'm fueling myself
05:36and where I'm fueling others.
05:37And I like to do it with the smile on my face,
05:39so I think it's got a good essence of promise around it.
05:42Yeah, a good essence of promise.
05:43I like it.
05:44I wouldn't mind taking a real look at what's out there, OK?
05:48Well, do you know what?
05:48I'm going to check out the storage,
05:49because I'm a stickler for storage.
05:51I've got a lot of kit that I need to store in certain places,
05:53so let me go see if I can find some.
05:55See you in a minute.
06:00Ooh, well, this is really good news.
06:03Yes, it's outside and very small.
06:05It's a small area.
06:06But anything in London that's outside,
06:09especially for a studio flat like this,
06:11well, it's a bonus,
06:11and it just gives you a little bit of breathing space.
06:23Space is tight in this leasehold flat,
06:26but there is room for good news.
06:29125 years left on the lease means no extension headaches.
06:34Just bear in mind any alterations
06:36will need the freeholder's permission.
06:39And Harry, a.k.a. Nitro,
06:41is 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,
06:54but 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 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 I could get used to,
07:13whether you put a shower in here or something else,
07:15I'm not too sure,
07:16but I think you'd have to pick between the two.
07:19Now, let me close this up,
07:22because I found my storage, so I'm happy.
07:25It's happy all again.
07:28I think I might be happy if I wasn't.
07:30I'm with them and they're happy.
07:32It's happy all again.
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?
07:42You know, I 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
07:51and 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
08:01without being competitive.
08:02No, I'm neither of these things,
08:03but I'm still quite competitive.
08:05So if you didn't want to go through the paperwork
08:08and budget of 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.
08:18..or you could have that pull-down bed here.
08:21They're three good options to have.
08:22Very good options.
08:23We're kind of, like, all winners.
08:25Yeah, I think we're all winners,
08:26but I think I might win.
08:30Same bed, different dreams.
08:32Same bed, different dreams.
08:35Studios usually need a little imagination
08:37when it comes to making the space work.
08:41But this place has a little something extra,
08:44character 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
08:54on this lot guided at £250,000.
08:59So our first impressions look flat.
09:01See, it's got so much potential.
09:02It would have been one huge room originally
09:04to show you how grand these houses were.
09:06So they're mainly stud partition walls,
09:08which could all be moved or taken out.
09:10See, the flexibility you've got here
09:12is immense, actually, of thinking,
09:14how can we re-employ the space
09:15to actually make it work better for a modern buyer.
09:20So if this flat was renovated
09:22in its current configuration
09:23and modernised to a good standard,
09:26what sort of figures could it see
09:28on both the sales and rental markets?
09:32As a renovated studio,
09:34we're probably looking at renting it
09:36for about £2,000 or just over £2,000 a month.
09:39And on the sales figure,
09:40you'd be looking at between £460,000 and £480,000.
09:46The agent also believes
09:48that there is space to create a one-bed flat
09:50if you were able to obtain permission
09:53from the freeholder.
09:55So what sort of returns
09:56could a buyer expect
09:58if they went down this route?
10:01If this flat was refurbished as a one-bed,
10:04from the Lessing's perspective,
10:05you should be looking at £2,500 per month.
10:08And on the sales side,
10:09you should be looking at something
10:10between £525,000 and £550,000.
10:15Harry, what have you made
10:16of your first Holmes Under the Hammer property?
10:18You know what?
10:18It's been a great experience so far.
10:20First things first,
10:21it's a great property,
10:22great location.
10:24This could be stunning.
10:25Harry, do you want to say the next line?
10:27I've been dying to say this.
10:28Let's see what happened
10:29when this flat went under the hammer.
10:31Boom.
10:34This lot was part of a remote auction
10:37with bids taking place online.
10:38Third and final time, you're all done.
10:41Show it to the internet.
10:45The hammer came down at £356,000
10:49with the winning bid
10:51from chartered surveyor Brandon.
10:53We first met him in Bushy Heath,
10:56a leafy suburb on London's edge,
10:58where he renovated a two-bed flat
11:00to kick off his rental portfolio.
11:04Now Harry and I are catching up with him
11:06to find out what he's got planned
11:08for his latest project.
11:12Brandon, hello.
11:13Hi.
11:14I thought I would bring along a gladiator today.
11:17Well, thank you so much.
11:18Welcome 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,
11:28you look very familiar
11:29because you've been on Homes Underworld.
11:30I have indeed, yes.
11:31Yes.
11:32That was your first?
11:33That was my first.
11:33This is my second.
11:34I just snatched it up,
11:35grabbed it with both hands,
11:36and here we are.
11:37You got it for £356,000.
11:41How did you feel about that?
11:42I was delighted.
11:43I was prepared to spend up to £375,000,
11:45so the fact that I got it for £356,000,
11:46I was absolutely delighted.
11:48That's amazing.
11:48So with that in mind,
11:49does that mean you've got a little bit extra
11:51for your renovation costs?
11:52It does.
11:53I need to keep it down.
11:55I'm aiming to spend no more than about £20,000,
11:57unlike the bushy one
11:58where each and every room
12:00was absolutely dilapidated.
12:02This, I want to keep it
12:03in the kind of style that it is in now.
12:05It's very grand.
12:06I'm going to have dark wooden flooring
12:08throughout 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,
12:17a repaint, jet wash, etc.
12:19And in the bathroom,
12:20I'm going to retire a little
12:21and give it a sort of new, fresh look.
12:24Yeah.
12:25Great.
12:25So new bathroom, flooring,
12:27cleaning up the windows, kitchen?
12:29So plans for the kitchen.
12:31My first idea was
12:32to turn the kitchen into a bedroom,
12:34make it a one-bedroom flat.
12:36However, the jury is still out on that.
12:39The more time I spend in this flat,
12:40the more I realise how valuable this room is.
12:43And by taking up half of it with the kitchen
12:45and leaving just that strip,
12:47I think I'm turning what is currently a really good studio
12:49into perhaps not a very good one-bed.
12:51In my opinion,
12:52with a studio,
12:54if I was living here,
12:55I would rather keep the cooking smells separate.
12:57And I just think leaving it in its current set-up
12:59is probably the best crucifixion to take.
13:02And so,
13:02where 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
13:08if I'm going to need to furnish this one.
13:10I had to furnish the last one
13:11because that was a requirement of the tenancy.
13:13On this one,
13:14it will be a sofa bed
13:15so that if they want to put it away during the day
13:17and just use it as a sofa,
13:18then they can.
13:19TV, et cetera.
13:20I imagined it to be sort of in that corner
13:22with a small dining room table here,
13:25kitchen here,
13:25and then obviously the bathroom area is now.
13:27Is this one to sell on?
13:28This is also to rent out,
13:30but, well, hopefully the tenant
13:32will come with their own furniture.
13:35Sorry to go back to the bed again,
13:37but would you consider a fall-down bed
13:39if you are furnishing
13:39or a mezzanine up here?
13:41I did consider a mezzanine.
13:42That is a possibility
13:43and that wouldn't encroach in the space too much,
13:45so I'm going to have to wait
13:46and see what I decided.
13:48As you're building up your portfolio,
13:50which is such an impressive thing to do,
13:52is 20k a realistic budget
13:53for a London dual-upper?
13:55I'm very ambitious
13:56and I'd like to think, yes.
13:59So, I've got a great team of builders.
14:01I've got a great vision for it
14:03and if it pushes over 20k,
14:04it pushes over 20k,
14:05but I've got to be ambitious in this life.
14:08You do,
14:09but those finishes are pretty high,
14:10like granite in the kitchen
14:13and dark wood floors.
14:15So, the dark wooden flooring
14:17will be a high-quality wood effect.
14:19I love that.
14:20So, that's the first cost saving.
14:22The second cost saving
14:23is I'm blessed with the timing of all of this
14:25that I happen to have
14:27some very 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
14:34on having the holes cut in it
14:35for the sink, etc.
14:37But, yeah,
14:38it's who you know,
14:39not what you know.
14:40I love that.
14:41Absolutely.
14:42And how long is this going to take?
14:44I'd like to think
14:44that it would be done
14:45in the next two months.
14:46Two months is quite a short time,
14:47which is good
14:48because we're impatient to see...
14:49I can't wait to see it.
14:51I can't either.
14:53Best of luck, Brandon.
14:55So much luck.
14:59Love, Brandon.
15:00Love, Brandon.
15:01Fresh face to the property scene.
15:02Absolutely.
15:03But so much drive, charisma.
15:05And I liked his honesty too.
15:07Yeah, on that topic of honesty,
15:09granite work tops,
15:1020k budget.
15:11Can he do it?
15:12I think he possibly can,
15:14but he wants this place to be high-end.
15:17Very high-end.
15:17You're right,
15:18that £20,000 budget,
15:19will he do it?
15:20Oh, well,
15:21you can find out
15:21how Brandon gets on
15:22later on in the show.
15:23Get yourself a cup of tea.
15:31We're heading to Somerset now
15:33and the seaside town of Clevedon.
15:38Its pier is considered
15:40to be the best preserved example
15:42of its architectural type,
15:44popular with tourists
15:45and anglers alike.
15:48But will Martin fall hook,
15:50line and sinker
15:51for our next auction lot?
15:55Clevedon on the Bristol Channel.
15:58Quite an affluent
15:59and well-respected
16:02Victorian seaside haunt.
16:04But today,
16:06I'm here to see this.
16:08It is a two-bedroom,
16:11although looking from the outside
16:12you think it's going to be bigger than that.
16:13A two-bedroom house.
16:15It's a mid-terrace.
16:17£200,000 for cigar price.
16:20Let's have a look.
16:27I'm going to get the impression
16:28from the outside
16:29that in its heyday
16:30this would have actually been
16:31a pretty nice house.
16:34Some lovely actual features
16:36like, look at that.
16:38Wow.
16:39Amazing.
16:41Lots of trouble
16:42of putting beautiful glass in there.
16:43Now you can actually get
16:44this kind of Victorian,
16:47what do they call it,
16:48embossed or x-glass.
16:51You have to visit
16:52an architectural salvage,
16:54but if you take a little piece in
16:55like that
16:56and take that
16:57and show them,
16:58they'd probably be able to match it
16:59because you definitely would want
17:01to put something
17:02that was of the same kind
17:04as that
17:04and you'll only actually
17:05only get that
17:06if it's come out
17:07of a Victorian house
17:08unless somebody's done
17:08a very good job
17:09of creating a repress.
17:11But little entrance
17:13there was a lot of talking
17:14about little entrance,
17:16wasn't it?
17:16Blimey.
17:17Anyway,
17:17yeah,
17:18little entrance area there
17:19through into
17:20your big sitting room
17:22and again,
17:23there's that feeling
17:24this was a grand house.
17:25Cornice thing
17:26really, really lovely
17:27or it could be
17:28a big fireplace
17:29you'd want to open that up
17:30and I like the fact
17:31that this has already
17:32been opened up.
17:34I mean,
17:35I suppose
17:36well,
17:37I've got to do this
17:38as the grand
17:39I can't actually
17:39can I?
17:40No?
17:41Does that move?
17:42OK,
17:42you can't actually.
17:43But anyway,
17:43I was about to do
17:44a grand thing
17:45and I go,
17:45whoosh,
17:45look at that.
17:46Ha,
17:46here I am.
17:47She had a bit of drama
17:49but no,
17:49it's really nice
17:50and it's really opened up.
17:51This is a brilliant house!
17:55Through to the kitchen
17:56and it's in a bit of a state.
17:58The units are very outdated
18:00and the whole thing
18:01likely needs to be redone.
18:05On the plus side,
18:06there's ample storage space
18:08and lots of light
18:10coming through the back door.
18:14Outside,
18:15the back garden
18:16is in desperate need
18:17of a trim
18:18and contains
18:19a dilapidated shed.
18:20There's actually an option
18:22for rear access
18:23so a garage
18:24or simply off-street parking
18:26would be a welcome addition.
18:28Now,
18:28let's catch up
18:29with Martin
18:30on the first floor.
18:35So,
18:36upstairs,
18:37an intriguingly small
18:38number of bedrooms,
18:39just two,
18:40but straight away
18:41I'm seeing this
18:43which is an absolutely
18:43massive bathroom.
18:45Looks like it's got
18:46a brand new board as well.
18:47That's good news.
18:48What are you thinking?
18:49Right, yeah.
18:50Bedroom.
18:51That's your third bedroom
18:53for sure.
18:54But then you need
18:54to have a bathroom somewhere
18:55but the rooms
18:56are absolutely huge.
18:58First bedroom there
19:00and then through
19:01to the front of the property
19:02where you've got
19:02this absolutely
19:03enormous room
19:04as well.
19:05So,
19:06I'm thinking,
19:08right,
19:09lose some space
19:10off that bedroom there
19:12in the middle
19:13to create a bathroom
19:14in the middle
19:14there.
19:16You could even have
19:17an ensuite in this room
19:18in that corner.
19:19So an ensuite there.
19:21Get in the middle.
19:23That's going to be
19:23your bathroom.
19:24That's another bedroom.
19:25We've got three bedrooms,
19:26family bathroom,
19:27en suite.
19:28Job done.
19:33That's transformation
19:34into a three-bed house
19:36along with some
19:37simple renovations
19:38downstairs
19:39could add a lot
19:40of value.
19:43But what's
19:44the professional opinion?
19:46We invited
19:47a property expert
19:48from the auction house
19:49that sold this lot
19:50to get their thoughts
19:51and valuations
19:52on this two-bed
19:53mid-terrace
19:54guided at
19:55£200,000.
20:00So we're in a Victorian
20:01terrace property.
20:02Quite dated.
20:03Everything needs doing.
20:04But it's a classic layout.
20:06You've got two floors,
20:07small extension
20:08at the rear,
20:08two bedrooms upstairs,
20:10big bathroom,
20:11couple of receptions
20:12downstairs.
20:15Probably easier to start
20:16with what doesn't need doing,
20:17and that's pretty much nothing.
20:19So as you work your way
20:20through the house,
20:21you need decor throughout,
20:23everything in terms of
20:24kitchens,
20:24bathrooms,
20:25electrics,
20:26windows.
20:26The roof and the general
20:28structure of the property
20:28looks to be OK,
20:29or certainly appears to be,
20:31but no doubt
20:32as you dig into it,
20:33you'll find little horrors
20:34as you go on.
20:36If it were renovated
20:38with Martin's idea
20:39of adding a third bedroom,
20:41what could it achieve
20:42on the sales market?
20:45So historically along the terrace,
20:47prices have achieved
20:49just below the £400,000 mark.
20:51I'd assume if you can do
20:52a decent job,
20:53you should be able
20:54to hit that kind of level.
20:56And for rental?
21:00Converted into a
21:01three-bedroom family home,
21:02you'd expect to get
21:03a rental income
21:04of about £1,200 to £1,400
21:06per calendar month.
21:09Well, obviously in need
21:11of a major refurb,
21:12but definitely one
21:13you could add value to,
21:14especially if you think
21:15about jiggling
21:15with the layout.
21:17Let's see who bought it
21:18when it went under the hammer.
21:24This lot was snapped up
21:26when a pre-auction offer
21:27was accepted.
21:28Up to your soul.
21:35And it was property developer
21:37Ben who paid £220,000 for it.
21:40Based in Somerset,
21:42he already has a rental portfolio
21:44in the South West,
21:45and today he's here
21:46to 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
21:54to buy this house.
21:56Basically scoped
21:56to 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,
22:04one-bed flat,
22:05and then upstairs,
22:06two-bed flat if I can.
22:07Oh, wow.
22:10Obviously that requires
22:10planning permission.
22:11Yep.
22:12Is there an enthusiastic
22:15response from the council
22:16about that kind of thing?
22:18I think so.
22:19No, and there's also precedent
22:20as well down the street.
22:21Is there?
22:21There's a couple
22:22on the street
22:22that have already
22:22been turned into two-bed flats.
22:24Can you talk me through
22:25the economics of that?
22:27Why the first thing
22:29you thought about
22:30was doing flats?
22:30Because I generally
22:31do buy and hold,
22:33and two flats
22:34makes a lot more sense
22:34than one house
22:35in terms of rent yields.
22:36Right, so you're going
22:37to rent them out separately.
22:38OK, so how will you
22:40split the entrances then?
22:41Where will the entrances
22:42to flats be?
22:42Same to your entrance,
22:43and then I'll probably
22:44have entrance to flat
22:46one here,
22:47basically where you're stood.
22:48Right.
22:48And then corridor through.
22:50This will be a bedroom.
22:51Open up there
22:52and try and create
22:53a nice living room
22:55come kitchen.
22:55Probably knock out
22:56a bit of that opening
22:57to widen up the kitchen,
22:59and then do a small extension
23:00on the back
23:01to form a bathroom.
23:02Oh, wow.
23:02So the small extension
23:04is only probably
23:04about two metres
23:05by two metres.
23:06It's not really big,
23:07but it just adds
23:07to that bathroom space
23:08and brings it up
23:09to about 40 square metres,
23:10which is kind of
23:10what you want
23:11for a one-bed flat.
23:12OK.
23:13Then upstairs,
23:14loft conversion.
23:15Oh.
23:15Yeah, nice flat roof
23:16dormer off the back.
23:17It's going to be
23:18a maisonette, effectively.
23:19OK.
23:19Yeah, so a two-bed flat
23:20with a bedroom on it
23:22on the top.
23:23Wow.
23:24What about the back?
23:25Because you've got
23:26an interesting opportunity
23:27there, I think.
23:28What are you thinking
23:29about doing there?
23:30Parking.
23:30Yeah.
23:31Parking in the garden,
23:31really.
23:32I'm probably going
23:32to get one parking
23:33space in there.
23:34If I can get two,
23:35I'll be very happy,
23:36but I don't think
23:37that's going to happen.
23:38I don't think,
23:38in terms of width,
23:39I'm going to be quite there.
23:40What about the original
23:41features?
23:42Like, I like the little
23:42porch way and the glass
23:44there and...
23:45They're going.
23:46Are they?
23:46Yeah, sorry.
23:48I mean, we're going
23:48to drop the ceiling in here.
23:50Drop it?
23:50Yeah, drop it.
23:51So just completely
23:52take it out.
23:53Well, sound and fire
23:55if it's being too flat.
23:56We'll keep the nice
23:57flooring as you come in.
23:59OK.
23:59That will stay.
24:01Porch's going to go.
24:01And unfortunately,
24:02that corbels,
24:03that's going to go as well.
24:04Corbels being the...
24:05The arch.
24:06The arch.
24:06Ornate arch.
24:07So unfortunately,
24:09quite a lot of the
24:09Victorian features
24:10are going to go,
24:11but we're going to have
24:11a really nice
24:13modern Victorian
24:15style property instead.
24:17Right.
24:17Well, fair enough.
24:18So what's the budget
24:19for all this?
24:20100 grand.
24:21Under,
24:21hopefully under 100.
24:22But that includes
24:23all professional fees.
24:24OK.
24:24That's everything.
24:25And what's the time scale?
24:2612 months.
24:27OK.
24:28But are you going to sell them
24:29or are you going to rent them out?
24:30Rent them both out.
24:30OK.
24:31Now, tell me about you.
24:32Because is this what you do?
24:33You're talking with
24:34great authority.
24:35Yeah.
24:35Well, I used to be
24:36a building surveyor.
24:36Oh, did you?
24:37Oh, wow.
24:38There we go.
24:38So it was built
24:39formerly before that
24:40an estate agent.
24:41Oh, my.
24:41But I realised
24:42being an estate agent
24:43and not really knowing
24:44anything about houses
24:44wasn't very good.
24:45Oh, OK.
24:46And this probably
24:47definitely appealed to me
24:48a lot more
24:49than being a building
24:49surveyor.
24:50So, yeah,
24:51I went for this.
24:52And how long
24:52have you been doing it
24:53for now?
24:54Full time.
24:54This is year three.
24:56Right.
24:56But I've been doing it
24:58for, well,
24:58since I was 21.
24:59So we're on number 11.
25:01Oh, wow.
25:01So lots of evenings,
25:03lots of weekends.
25:04Yeah, for 10 years.
25:05Have you done
25:06flat converters before?
25:07This is my first one.
25:08I've always previously
25:09done full refurbs.
25:11So this is the first
25:12time that I'm doing
25:12something that is
25:13breaking something up.
25:14Wow.
25:15Not daunted, though?
25:16No, not really.
25:17It's, yeah,
25:18seems all right.
25:19So what did you get up
25:20to when you're not
25:21doing this?
25:22All sorts, really.
25:24Keep very busy
25:25outside of work.
25:26Sailing.
25:27Got into that
25:28quite recently
25:29and I'm really
25:29enjoying it.
25:31Rugby.
25:31You name it.
25:32Right.
25:33And family?
25:34Family.
25:34My partner's
25:35expecting our first
25:37boy.
25:38Oh, congratulations.
25:40So when's that?
25:41Four months' time.
25:42Oh, wow.
25:43Yeah, the project
25:44might stall a little bit
25:45as a result,
25:46but we'll see.
25:47So when we come back,
25:48you might even be with
25:49your small person.
25:51on his first property
25:52investment as well.
25:54Well, listen,
25:54congratulations.
25:56Good luck with it.
25:57Look forward to seeing
25:57how you get on.
25:58Cheers.
26:01So Ben's first
26:02flat conversion,
26:03but he certainly
26:04seems to know
26:04what he's doing,
26:05although there is a lot
26:06going on in his life
26:08at the moment
26:08with his first child
26:10on the way.
26:11How will it all turn out?
26:12You can find out
26:13later in the show.
26:16Coming up,
26:18we return to 2009
26:19and a property
26:20that might have been
26:21big on charm
26:22but came with...
26:23The smallest bathroom
26:24I've seen
26:25in a very long time.
26:28And back in Somerset,
26:31has one become two
26:32at the Clevedon House?
26:40We're back
26:41in Earl's Court,
26:42West London,
26:43where I was joined
26:44by a man
26:44who's fast on his feet
26:46and fierce in the arena,
26:47world-class sprinter
26:48and gladiator,
26:50Harry Aikens Ariti,
26:52better known as Nitro.
26:54I'm good to go.
26:55I'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,
27:07we checked out
27:08this studio flat
27:09with a guide price
27:09of £250,000
27:11and Harry wasted
27:13no time
27:14making himself at home.
27:15Now this
27:16is a gladiator-type space
27:18I could get used to.
27:21This one
27:21caught the eye
27:22of chartered surveyor
27:23Brandon,
27:24who we'd met before.
27:26Property was
27:26a side business
27:27for him
27:28and he picked
27:29this up
27:29for £356,000
27:31and had a
27:32£20,000 budget
27:34to get the place
27:35rental-ready.
27:40Is £20,000
27:41a realistic budget
27:42for a London
27:43dual-upper?
27:44I've got a great
27:44vision for it
27:45and if it pushes
27:46over £20,000
27:46it pushes over £20,000
27:47but I've got to be
27:50ambitious in this life.
27:51Give me just a chance
27:52and let me win
27:54with you.
27:55Brandon was
27:56considering converting
27:57it into a one-bed
27:58or even adding
27:59a mezzanine
28:00but whatever the plan
28:02he hoped a team
28:03of trades
28:03could get it done
28:04in around two months.
28:06Now, nearly four months
28:08on, we're back.
28:09You inspire me,
28:10set the face
28:11the leader of the pack
28:13I made my way aboard
28:15so I could win
28:17with you
28:18It certainly looks like
28:20Brandon has won
28:21with this renovation.
28:23The flat is now
28:24clean, modern
28:25and the layout
28:26has remained unchanged.
28:27So if I stay with you
28:29I'll be a winner too
28:32The more time
28:33I spent in this flat
28:34the more I realised
28:35that the sort of
28:36downside of a studio
28:37is not sleeping
28:38in the lounge
28:38it's cooking in the lounge
28:40because of the cooking smells
28:41and the fact that
28:42we have the benefit
28:42in this flat
28:43of keeping the kitchen separate
28:44I wanted to stick with it
28:46so I've stuck
28:47with the original layout
28:48and now that I've seen it finished
28:49I'm delighted
28:49with my decision.
28:53The main living
28:55and sleeping space
28:56still has plenty of charm
28:57and those lovely
28:59period windows
29:00are now restored
29:01and painted
29:01along with the balcony
29:05The kitchen's been cleaned
29:06and updated
29:07with new appliances
29:09and for now
29:10the old worktop
29:11has stayed put
29:13There is granite
29:14on its way
29:15this is coming
29:15from one of my other jobs
29:16unfortunately
29:18there's been a bit
29:18of delay
29:19with the builders
29:19on that one
29:20so the granite
29:20is not in currently
29:21but it will soon
29:22be in there
29:23and the sink
29:24that's currently in there
29:25is going to come out
29:25as well
29:25we're going to replace it
29:26with an under-mounted sink
29:27and a completely new
29:28kitchen tap
29:29which will just finish
29:30off the look of it
29:32And the bathroom
29:33has had a similar refresh
29:35leaving the flat
29:36looking smart
29:36and ready to rent
29:40We've got new tiles
29:42for the splash back
29:43I've put a new towel
29:44rail in there
29:45and we've got new
29:46panelling
29:46all around the shower
29:47itself
29:48the whole bathroom
29:49has been painted
29:50and all the shelving
29:51in there
29:51has given a refresh
29:52and it's now white
29:53and fresh
29:53and nice
29:59Balancing his day job
30:00as a chartered surveyor
30:01Brandon managed
30:02this project
30:03in his spare time
30:06and once the builders
30:07were on site
30:08the work ran
30:09relatively smoothly
30:10thanks to his trusted team
30:13Yeah, the same team
30:14of builders
30:14that did my last property
30:15they're very loyal
30:16and I'm loyal to them
30:18they're absolutely brilliant
30:19did it in the time frame
30:20that I wanted
30:20and for an excellent price
30:22so yeah
30:23really can't complain
30:24I'm very grateful to them
30:26high praise indeed
30:28but did the builder's
30:30excellent price
30:31mean he was able
30:32to stick to his
30:33£20,000 budget
30:34We've spent just shy
30:36of £10,000
30:38part of that
30:39was due to the fact
30:41that I haven't actually
30:41paid for the templating
30:43cutting and installing
30:44of the granite
30:44which is due to happen
30:45which will be another
30:46couple of thousand
30:47also because really
30:48nothing actually went wrong
30:49I sort of left a provision
30:51in the budget this time
30:52in case anything
30:53had gone wrong
30:54and thankfully
30:54it wasn't needed
30:55Brandon's budget
30:57also benefited
30:58from keeping
30:59the original layout
31:00leaving him
31:01with around £8,000
31:03to spare
31:04which is a solid result
31:09and it brings
31:10Brandon's total spend
31:12including the original
31:13purchase price
31:14to around £368,000
31:18so hopefully
31:19this flat
31:20has been
31:20and will continue
31:21to be
31:22a solid investment
31:23we invited
31:24a local estate agent
31:25to take a look around
31:26and hear their thoughts
31:28on the work
31:29and find out
31:30how much
31:30the studio
31:31could now be worth
31:33so this is my first
31:35time in the property
31:36I think this layout
31:38for a studio apartment
31:39works well
31:40we have a really good
31:42size living area here
31:43so it's going to be
31:44adaptable in terms
31:46of how you configure it
31:47I think had we
31:48moved toward
31:49trying to reconfigure
31:51this as a distinct
31:52one bedroom apartment
31:54it would have
31:55compromised the layout
31:58it sounds like
31:59Brandon has made
32:00a smart decision
32:01so how do things
32:03look when it comes
32:04down to the numbers
32:05how much could the
32:06flat now be worth
32:07on the open market
32:09I think this property
32:11in the current market
32:12would sell for
32:13something approaching
32:14400,000 pounds
32:17okay
32:17I mean
32:18it's slightly less
32:19than what I anticipated
32:20it to be worth
32:21but equally
32:22I'm not selling it
32:23I'm going to hold on to it
32:24so hopefully
32:25the price will only go up
32:29even if
32:29Brandon thinks
32:30the figure
32:31is conservative
32:32it would see him
32:33with a pre-tax profit
32:34of 32,000 pounds
32:36but rental
32:38is the plan
32:38so what sort of
32:40income
32:40could it generate
32:42I think the property
32:43has the capacity
32:44to rent
32:45for
32:472,000 pounds
32:48per calendar month
32:50don't see it
32:51going past that
32:53again
32:54Brandon thinks
32:55this rental estimate
32:56is a little
32:57on the low side
32:58but it would still
33:00bring in
33:00around 24,000
33:02pounds a year
33:02a yield of
33:03roughly 6.5%
33:06property number
33:072
33:07looks to have
33:08been a success
33:09and he now
33:10has his sights
33:11set on more
33:12properties
33:12in the future
33:13but with this one
33:15drawing to a close
33:16how does he feel
33:17it's gone
33:19I'm delighted
33:20I mean
33:21this one definitely
33:22wasn't in
33:22as poor of a condition
33:23as my first one was
33:25so perhaps
33:26slightly less
33:27of a transformation
33:28but at the same time
33:29I'm delighted
33:29to have given it
33:30a new lease of life
33:31and I think
33:32it's an absolutely
33:33brilliant property
33:36Time now
33:37to delve
33:38into the archives
33:39and we've pulled out
33:40a property
33:40we first saw
33:41in October 2009
33:43Well today
33:44I'm in glorious
33:45Devon
33:46and I thought
33:46we'd start
33:47with a bit of grandeur
33:48that is Powderham Castle
33:50home to the Courtney family
33:51and seats
33:53of the Earl of Devon
33:54well after that
33:55I bet you can't wait
33:56to see
33:57what was up for auction
33:58and close to the
34:00Powderham estate
34:01was the pretty village
34:03of Kenton
34:03and in this rather
34:05idyllic location
34:06there was a grade 2
34:07property up for auction
34:08well right in the heart
34:11of the village of Kenton
34:12just opposite
34:12the beautiful local church
34:14is a row
34:15of terraced houses
34:16so give them the game
34:17away then
34:18because I'm not here
34:19to see a castle
34:20but something
34:21which I think
34:22has potential
34:23to be very very
34:24interesting indeed
34:252 bedroomed house
34:26had a guide price
34:26of 100,000 quid
34:27let's go inside
34:30oh seriously
34:31impressive front door
34:33that's what you call
34:34a grand entrance
34:35through into
34:37I guess this is
34:38the living room
34:38it's nice to have
34:39it's open fire there
34:40some very strange
34:41stuff going on
34:42all this glass
34:43up the side
34:44of the staircase
34:45there
34:46unusual
34:48through into
34:49a rear
34:50kind of
34:51sitting room area
34:52no natural light
34:54in here
34:54other than stuff
34:54that's coming through
34:55from both the living room
34:56and the extension
34:57to the kitchen there
34:57and all this
34:58stone on the walls
34:59it makes it feel dark
35:00and fairly dingy
35:02and then wow
35:03look at that
35:04it's
35:05well it's a range cooker
35:07for small people
35:07it's almost like
35:08one of those
35:08children's ones
35:09isn't it
35:10not very practical
35:11I have to say
35:12so
35:12all in all
35:14it's kind of quirky
35:17at the back
35:18the kitchen was small
35:19and definitely
35:20in need of modernisation
35:21but with the second
35:23living room adjacent
35:24to it
35:24there was the possibility
35:25of opening it up
35:27into a kitchen diner
35:28to make a more
35:29impressive space
35:31upstairs
35:32the two bedrooms
35:33were in need
35:34of a full refurb
35:35and even though
35:36they weren't the
35:36biggest bedrooms
35:37we've ever come across
35:38that was nothing
35:39compared to the bathroom
35:41well upstairs
35:42two bedrooms
35:43and the smallest bathroom
35:45I've seen
35:45in a very long time
35:47including
35:48a very very odd
35:50Japanese style
35:51mosaic bath
35:52now quite why that's there
35:53I don't know
35:54because it has to be
35:55very small to make
35:55the most of that
35:56probably take that out
35:57put a shower cubicle
35:58in its place
35:59in terms of moving
36:01the bathroom
36:01I think your options
36:02are fairly limited
36:03but you know
36:04as I said
36:05shower cubicle
36:05that would at least
36:06improve things
36:07from what is
36:08very very very very odd
36:13if the bath
36:14was a little odd
36:15there was also
36:16something a little
36:17strange outside
36:18that needed to be
36:19investigated further
36:27well out at the rear
36:28of the property here
36:29it just keeps getting
36:30quirkier and quirkier
36:31there's this little
36:32courtyard
36:32fair enough
36:33but then here's
36:34something you don't
36:35see every day
36:35this is actually
36:37a Victorian piggery
36:39now in the days
36:41before refuse collections
36:42and wheelie bins
36:43you'd actually have
36:44a pig out here
36:45and you'd feed it
36:46scraps from the kitchen
36:47even ash from the fire
36:49and then of course
36:50when the time came
36:51a bit of bacon
36:52for your sandwiches
36:54what would you do
36:55with it now
36:55I don't know
36:56maybe it could be
36:56an additional room
36:57maybe a workshop
36:58or how about this
36:59a teenager's bedroom
37:01well they're usually
37:02a pig style aren't they
37:05before it was going
37:06to be anyone's
37:07living space
37:07it would need
37:08to be made
37:09more solid
37:10but through a sliding
37:11door there was
37:12another room
37:13that had got
37:14running water
37:14so perhaps combined
37:16they could have
37:17been converted
37:18into something useful
37:19another quirk of the house
37:21was that to access
37:22the garden
37:23you had to go down
37:24a communal path
37:25but once there
37:26it was a good size
37:27and at the bottom
37:29of this wildlife oasis
37:30there was a garage
37:31that could be reached
37:32through a car park
37:33but to find out
37:35more about the local market
37:36we asked the auctioneer
37:38who sold the house
37:38in the first place
37:39to come and tell us more
37:42Kenton is a really
37:43pretty little village
37:44most of the houses
37:46in Kenton
37:46are going to be
37:46a little bit
37:47on the older side
37:48it's kind of the
37:49village that served
37:51Powderham Castle Estate
37:52just about
37:53three quarters of a mile
37:54along the road
37:55you can get
37:56not as much
37:57for your money
37:58here as
37:59pretty well anyway
37:59it's quite a hot spot
38:00clearly the area
38:02was a highly desirable
38:03place to live
38:04which would mean
38:05demand for the property
38:06was high
38:06guided at
38:07£100,000
38:08was that demand
38:10likely to generate
38:11good returns
38:12on the resale
38:12and rental markets
38:14once the property
38:15had been fully renovated
38:16if done up to
38:17a reasonable
38:18letting standard
38:19you could be looking
38:21as much as
38:23£675 a calendar month
38:24if the new owner
38:26did an absolutely
38:27stunning job
38:29the property
38:30might be worth
38:31a little bit
38:32over £200,000
38:33but I just get a feel
38:35that that's about
38:36the cap
38:36whatever you do
38:39so
38:39the garden
38:40the garage
38:41even the little shed there
38:43I mean
38:44it's just all
38:45the icing on the cake
38:46of what is
38:47a fascinating
38:48and actually
38:49quite charming
38:50little property
38:51close to Exeter
38:52a lovely little village
38:53and for £100,000
38:54I'm sure
38:55it got them
38:56absolutely buzzing
38:57when it went
38:58under the hammer
39:00£51
39:01what a pretty
39:02pretty little house
39:03who's going to say
39:04£100 straight in
39:04bang
39:05£100 we've got
39:05at £100
39:06£100
39:06well there it is
39:07at £100
39:08£102
39:08front row
39:09£102
39:10£104
39:10I'll focus on new chaps
39:11£104
39:13£106
39:14this was a very
39:15popular lot
39:15and we rejoined
39:17the bidding
39:17at £153,000
39:20£153 is at the back
39:22£153
39:22£4
39:23£154
39:25£155
39:26he is
39:26£155
39:27£155
39:28a little one
39:28if it'll help
39:29try and help you back
39:31£155 and a half
39:31£155 and a half
39:34£155 and a half
39:34all done
39:35it will be sold
39:35make no mistake
39:36at £155 and a half
39:37glancing back at the phone
39:39at £155 and a half
39:41sir
39:42yours
39:42congratulations
39:43well done
39:47and that successful bid
39:49of £155 and a half
39:51£155 and a half
39:51thousand pounds
39:52was made by Richard
39:53and his wife Jill
39:56they had renovated
39:57properties in the past
40:00and Martin met them
40:01back at the two bed
40:02grade two listed
40:03Kenton home
40:04to find out more
40:07Richard, Jill
40:08lovely to meet you both
40:09congratulations
40:10thank you
40:11tell me why you wanted
40:12to buy this place
40:13well basically
40:13we've been looking for a property
40:14to buy at auction
40:15for quite a few months
40:16we missed one
40:17at the last auction
40:18and I saw this one
40:19on a Saturday afternoon
40:20on the internet
40:21and I liked the look of it
40:22and I came down
40:23with my youngest foster child
40:24because Richard was busy
40:25had a look at the outside
40:27and my little boy
40:28was really enthusiastic
40:29and because I'm actually
40:31buying this property
40:32with some money
40:32from my late mother
40:34who died recently
40:35I wanted to feel right
40:36it was very important
40:37that it was that she
40:38felt right
40:40using her money
40:41for something we'd enjoy
40:42as a family
40:42so tell me a bit more
40:44about you two then
40:45what do you do
40:45when you're not doing this
40:46well basically
40:47Richard and I
40:47are both long term
40:48foster carers
40:49we've been working
40:50for Devon County Council
40:51for around about
40:52ten years now
40:53we do baby placements
40:54as well
40:54yes we have little ones
40:56and teenagers
40:57yeah we're very lucky
40:58as well
40:58because we live on a farm
40:59and they've got lots
41:00of space to run around
41:01and scream and shout
41:02and be children
41:03which is great really
41:04animals as well
41:06yes
41:06yeah we've got sheep
41:09dogs, cats
41:10there's a menagerie
41:11there's lots of stuff
41:12we have
41:14so thanks to the money
41:15left to Jill by her mum
41:16they had this interesting
41:18property to look after
41:19as well
41:21so Richard
41:21what did you think of it
41:22when you first saw it
41:23well I saw the property
41:25needed a lot of work
41:26doing to it
41:27and I think it's going to
41:28take a long time to do it
41:29but it's a lovely looking
41:30property in a great setting
41:31and I think it's well worth a go
41:34so have you done this kind
41:34of thing before Richard
41:35yeah it's not the first time
41:37I've done things like this
41:38before you know
41:39restore old buildings
41:40sometimes do churches
41:41barn conversions
41:42all those sort of things
41:43are you a builder?
41:44I'm a builder
41:45that's right
41:45so it doesn't send
41:46too much of a challenge
41:47to me
41:48you know although I can see
41:49there's lots of pitfalls
41:50and problems on the way
41:51but nothing we can't get over
41:53so tell me what you're
41:54going to do to it
41:54well we'd like to actually
41:56restore the property
41:57as much as we can
41:58back to how it would have
42:00been in say 1890s
42:02we'd like to take out
42:03the modern 70s style
42:04fireplaces
42:05and hopefully there'll be
42:06a nice Victorian brick
42:08fireplace underneath
42:09possibly put wood burners
42:11in there
42:11we need to put a new
42:12bathroom in
42:13probably move the bathroom
42:15where it is now
42:16so it works more effectively
42:17how are you going to
42:18reconfigure the bathroom
42:20and the bedrooms?
42:21well the end bedroom
42:22is going to come the bathroom
42:23and the bathroom
42:24become the bedroom
42:25and that's going to be done
42:26by moving walls around
42:27and then the bedroom
42:28will have double aspect windows
42:30and you've worked out
42:31the plans for this
42:31and it all sort of works
42:32doesn't it?
42:32yeah yeah
42:33I've measured it all up
42:34measured the rooms up
42:34and done it all to scale
42:36and yes it will fit in
42:37so what about the courtyard
42:38and the old piggery
42:39what are you going to do
42:40with those?
42:40I just think that the piggery
42:42is going to lend itself
42:43to a really nice
42:44Victorian style kitchen
42:46a kitchen?
42:46yes kitchen
42:47because it's south facing
42:48you've got lots of light
42:50and to link the piggery
42:52to the main house
42:52we'd like to put in
42:53a passageway
42:54with a glass roof
42:55and a large
42:57either double doors
42:58or a single door
42:59to let the light in
43:03that sounded wonderful
43:04getting the extra light
43:06into the house
43:07was certainly going to help
43:08but as it was a listed building
43:10they were going to have
43:11to liaise closely
43:12with the planning office
43:14so any idea
43:15how much this is going to cost?
43:18well I think
43:19£20,000
43:20I think we've got to
43:21allow at least £25,000
43:22because I want to do it properly
43:24I want to have
43:25good quality materials
43:26and I want it to last
43:28you know
43:28so it's not just a quick
43:30do up to sell
43:31we want to keep this property
43:32so what's the sort of
43:33bigger picture plan
43:34for the property
43:34then are you going to
43:35live in it
43:36or rent it out?
43:37yes we're going
43:37we've actually got a very good friend
43:39who's going to rent it from us
43:40she lives just up the road
43:42from here
43:42she's with her partner
43:43she's got a dog and two cats
43:44and no garden
43:45now she's going to look
43:47after this property
43:47they're going to be involved
43:48in helping us do some of the work
43:50and be able to say
43:51that they've actually helped
43:52in creating their home
43:53it's our house
43:54but it's going to be their home
43:55so
43:56well listen I think it's great
43:57that you found the house
43:59and the house found you
44:00and really look forward
44:01to seeing how you get on
44:02okay thanks very much
44:03thank you
44:05so there you go
44:06Richard and Jill
44:06falling for the obvious charms
44:08of this place
44:09and who can blame them
44:10and great news
44:11they've got a tenant line up
44:12to move in already
44:13before that happens though
44:14they've got to sort the place out
44:15and that means
44:16listed buildings approval
44:17etc etc
44:19how are they going to get on
44:20in the timescale
44:21you can find out
44:22later in the show
44:27a return to Somerset now
44:29at the seaside town
44:30of Clevedon
44:31where Martin saw
44:32a two bed mid terrace
44:33that came with an auction guide price
44:36of £200,000
44:37and when it came to the layout
44:39downstairs
44:40it had already ticked
44:42one of Martin's boxes
44:43I like the fact
44:44that this has already
44:45been opened up
44:46yes it's in a bit of a state
44:48but I love it already
44:49but upstairs
44:51a massive bathroom
44:52wasn't the best use of space
44:54what are you thinking
44:56right yeah
44:56bedroom
44:57that's your third bedroom
44:59for sure
44:59the successful bid
45:02of £220,000
45:03was made by
45:04building surveyor
45:05turned property developer
45:07Ben
45:07and his plans
45:08were a little grander
45:10than just adding
45:11a third bedroom
45:11basically scoped
45:12to convert into two flats
45:13flats
45:14yeah
45:15because I generally do
45:15buy and hold
45:17and two flats
45:18makes a lot more sense
45:19than one house
45:19in terms of rent yield
45:20Ben had a timescale
45:22of up to a year
45:23to account for any delays
45:25with planning permission
45:26and he had a budget
45:27of £100,000
45:28to complete the project
45:30now 17 months
45:32after our first visit
45:33we're back
45:43the renovations
45:44are complete
45:45and the house
45:46looks fantastic
45:47but the layout
45:48downstairs
45:49is the same as before
45:50apart from the addition
45:51of a toilet
45:52under the stairs
45:54so what happened
45:55to Ben's plan
45:56to turn it into
45:57two flats
45:58so yeah
45:59unfortunately
46:00in the end
46:00planning didn't go ahead
46:01we did two applications
46:04first one
46:05was a straight no
46:06second one
46:07took a look a bit longer
46:08before they said no
46:09and then ultimately
46:10we've gone down the route
46:11of conventional family home
46:14so with Ben
46:15keeping it as a single dwelling
46:16did he take on
46:17any of Martin's advice
46:19when it came to
46:20the layout upstairs
46:24we've turned it
46:24from a two bed
46:25into a three bed
46:27by shifting the bathroom
46:30I've stolen some room
46:31from bedroom to
46:33to create a bathroom
46:34and then created
46:35a small box room instead
46:36so it's been me
46:38and Harvey
46:39my labourer
46:40from start to finish
46:41just the two of us
46:41everything we've done here
46:42has pretty much been
46:43the two of us
46:44barring the electrics
46:46not much of what was here
46:47before is left
46:48it's pretty much
46:50been gutted
46:51I think the only thing
46:52that left is the
46:53quarry tiles
46:54on the ground floor
46:55apart from that
46:56it's back to brick
46:57new floors
46:58re-plaster out
46:59this is pretty much
47:00the same as every
47:02single other
47:02one that I've done
47:04plain white walls
47:05grey carpets
47:05same thing again
47:07and again
47:10Martin will be pleased
47:11to see some of
47:12the original features
47:13intact
47:14the interior
47:15has come together
47:16brilliantly
47:17but did the exterior
47:19receive the same
47:20level of love
47:24it's just been
47:25redecorate
47:26and re-landscape
47:27out the front
47:27trying to just
47:28smarten it up
47:29and make it
47:29really clean
47:30and easy to maintain
47:31out the back
47:32was quite a lot
47:33more work
47:34lots of garden clearance
47:35and creating
47:36parking space
47:37out the back
47:37it's been quite a lot
47:39of work
47:39but yeah
47:40certainly got the
47:41calories in
47:45the parking space
47:46is a clever bonus
47:47as it will likely
47:49make the property
47:49more appealing
47:50to families
47:52and speaking of
47:53families
47:53I believe Ben
47:54was awaiting
47:55a new edition
47:56of his own
47:58yeah
47:59Max is here
48:00all fit and well
48:01running around
48:02so
48:02causing carnage
48:04and
48:04just being a menace
48:06but he's
48:06absolutely great
48:10who knows
48:11maybe one day
48:12we'll see Max
48:13take his first
48:14steps onto the
48:15property ladder
48:16but when it came
48:17to this renovation
48:18the delays
48:19waiting for the
48:20planning permission
48:20meant that the
48:21progress sometimes
48:22felt like baby
48:24steps
48:24the original
48:25timescale was
48:2612 months
48:26obviously we've
48:27gone over that
48:28we did spend
48:28pretty much
48:2912 months
48:29in planning
48:30to not get
48:31any planning
48:32permission agreed
48:32the actual
48:33timescale of the
48:34project was
48:34seven months
48:35just creating
48:36this into a
48:36family home
48:37which we've
48:37hit as well
48:39an increased
48:39timescale can
48:41often lead
48:41to a higher
48:42spend
48:42but with Ben
48:44pivoting away
48:45from the
48:45conversion to
48:46two flats
48:46was he able
48:47to save on
48:48his original
48:49budget of
48:49£100,000
48:51that kind of
48:52went out the
48:52window the
48:53moment we
48:53found out we
48:54weren't going
48:54to get
48:54planning
48:54permission
48:55so as a
48:55result
48:56revised budget
48:56came down
48:57to £50,000
48:58and we've
48:59hit that
49:00at 50
49:00pretty much
49:01on the nose
49:04this brings
49:04Ben's total
49:05investment
49:06to £270,000
49:08but now
49:09that he'll
49:10be getting
49:10rent for
49:11one three
49:12bed house
49:12instead of
49:13two separate
49:14flats
49:14will the
49:15numbers add
49:15up to a
49:16fruitful return
49:17we asked
49:18back the
49:18expert who
49:19viewed it
49:19last time
49:20to find
49:20out
49:22coming back
49:23to the
49:23property
49:24really
49:24impressive
49:24he's done
49:25some very
49:26sensible
49:26moves
49:27made one
49:28being
49:28creating
49:29that third
49:29bedroom
49:30and the
49:30extra
49:31bathroom
49:31and the
49:32parking
49:32at the
49:32back
49:33you've
49:33got this
49:33nice
49:33open
49:34plan
49:34set up
49:34down
49:35here
49:35as well
49:35this is
49:36what
49:36people
49:36want
49:38so how
49:38much
49:39value
49:39has the
49:40third
49:40bedroom
49:40added
49:41how much
49:42does the
49:42expert
49:42think the
49:43house is
49:43currently
49:44worth
49:44the
49:45property
49:45has a
49:45value
49:46of
49:46approximately
49:47£365,000
49:48that's
49:50pretty much
49:50where I was
49:51at
49:51so that's
49:52yeah
49:52that's
49:52good
49:54a sale
49:55could see
49:55Ben
49:56with a
49:56return
49:56of
49:57£95,000
49:58pre-tax
49:59profit
49:59lovely
50:00stuff
50:00but will
50:01the rental
50:01returns
50:02be as
50:02positive
50:04the property
50:05would rent
50:05for approximately
50:06£1300
50:07per calendar
50:08month
50:08that's
50:09quite a lot
50:09lower
50:10my
50:11estimates
50:12on that
50:12are about
50:13£1500
50:13a month
50:14so far
50:15so we'll
50:16wait and
50:16see
50:16the agent's
50:18figure would
50:18see Ben
50:19with a yield
50:19of 5.5%
50:21but he's
50:22hoping to
50:22get closer
50:23to 6.5%
50:24with his
50:25higher rental
50:26goal
50:26Ben's
50:27original plan
50:27to convert
50:28the property
50:28into two
50:29flats
50:29may not
50:30have worked
50:31out
50:31but the
50:32stylish
50:32family home
50:33he's delivered
50:33instead
50:34has paid
50:35off
50:35so has
50:36this
50:36unexpected
50:37success
50:37changed
50:38the way
50:38he'll
50:38approach
50:39future
50:39renovations
50:40never
50:41flat
50:41conversions
50:42again
50:42just
50:43nice
50:43and easy
50:44houses
50:45flats
50:45keeping
50:46the
50:46sign
50:46refeathers
50:47them
50:48and rent
50:48them out
50:53a return
50:54now
50:54to our
50:55archive
50:55pick
50:56a grade
50:56two
50:57terrace
50:57cottage
50:58in the
50:58Devon
50:59village
50:59of
50:59Kenton
51:01it was
51:01bought
51:02for
51:03£155,500
51:04by Richard
51:05and Jill
51:06using money
51:07Jill had
51:08inherited
51:08from her
51:08mother
51:09the couple
51:10who lived
51:10on a farm
51:11had renovated
51:12properties
51:13in the past
51:14with this
51:14one
51:15they planned
51:15to convert
51:16the old
51:16piggery
51:17at the
51:17back
51:18of the
51:18house
51:18change
51:19the
51:19layout
51:19upstairs
51:20and then
51:21they were
51:22going to
51:22let it
51:22out to
51:23some
51:23friends
51:23when we
51:25returned
51:25six months
51:26later
51:26with help
51:27from their
51:28daughter's
51:28boyfriend
51:29Lyle
51:29it looked
51:30like
51:30they'd
51:31really
51:31transformed
51:32it
51:40the
51:41dark
51:41middle
51:41room
51:42was
51:42bright
51:42and
51:43light
51:43having
51:44been
51:44knocked
51:44through
51:45into
51:45the
51:45former
51:45kitchen
51:52upstairs
51:53the
51:53smallest
51:54bedroom
51:54had
51:55become
51:55the
51:55bathroom
51:56and
51:56the
51:57compact
51:57bathroom
51:58had
51:58become
51:59a
51:59second
51:59bedroom
52:04walls
52:05had been
52:06moved
52:06and some
52:07character
52:07features
52:08added
52:08such as
52:09a
52:09Victorian
52:10fireplace
52:11but of
52:12all the
52:12alterations
52:13the biggest
52:14one came
52:14in the
52:15former
52:15piggery
52:16and
52:16utility
52:17space
52:22well as
52:22you can
52:22see
52:23this used
52:23to be
52:23the
52:24piggery
52:24but now
52:24we've
52:24turned
52:25it into
52:25a
52:25kitchen
52:25it links
52:26to the
52:27house
52:27via a
52:27glass
52:27passageway
52:28which you'll
52:28see
52:29later on
52:29and as
52:30you can
52:30see
52:31we've
52:31restored
52:31the
52:31beams
52:32we've
52:33taken
52:33the
52:33roof
52:33off
52:33put
52:34a
52:34new
52:34roof
52:34on
52:34insulated
52:35all the
52:35walls
52:35and
52:36actually
52:36rebuilt
52:37everything
52:37I think
52:38this is
52:38probably
52:38one of
52:38the
52:38favourite
52:41they had
52:41linked
52:42this
52:42rather
52:42splendid
52:43kitchen
52:44to the
52:44rest
52:44of the
52:44cottage
52:45by
52:45building
52:46a
52:46glass
52:46roof
52:47passageway
52:48which
52:48was
52:48wide
52:49enough
52:49for
52:49a
52:49small
52:50table
52:50and
52:50chairs
52:50an
52:51ideal
52:51space
52:52to
52:52sit
52:53and
52:53enjoy
52:53your
52:53breakfast
52:54although
52:55they
52:55had
52:55managed
52:55to do
52:56most
52:56of
52:56what
52:57they'd
52:57envisaged
52:57to
52:58the
52:58property
52:58its
52:59grade
52:59two
52:59listing
53:00did
53:00stop
53:00one
53:01of
53:01the
53:01proposed
53:01layout
53:01changes
53:02yes
53:03our
53:03original
53:03idea
53:04was
53:04to
53:04take
53:04down
53:05the
53:05wall
53:05from
53:06the
53:06first
53:06room
53:07in
53:07the
53:07front
53:07of
53:08the
53:08house
53:08to
53:09actually
53:09join
53:10the
53:10middle
53:10room
53:10and
53:11make
53:11a
53:11large
53:11sitting
53:11room
53:12at
53:12the
53:12front
53:12of
53:12the
53:12property
53:13and
53:14the
53:14listing
53:15officer
53:15didn't
53:16actually
53:16want
53:16us
53:16to
53:16do
53:16that
53:17because
53:17that
53:17was
53:17the
53:17original
53:18wall
53:18when
53:18the
53:18house
53:19was
53:19first
53:19built
53:19in
53:201857
53:21but
53:22we
53:22were
53:22allowed
53:22to
53:22take
53:23out
53:23the
53:23further
53:24wall
53:24which
53:25was
53:25originally
53:26the
53:26outside
53:27wall
53:27of
53:27the
53:27property
53:28but
53:28even
53:29without
53:29that
53:29change
53:30they
53:30had
53:30still
53:31managed
53:31to
53:31create
53:31a
53:32stunning
53:32home
53:32over
53:33150
53:33years
53:34after
53:35the
53:35first
53:35brick
53:36was
53:36laid
53:36but
53:37how
53:37hands-on
53:38had
53:38Lyle
53:38been
53:38and
53:39when
53:39did
53:39he
53:39first
53:40get
53:40involved
53:41well
53:42right
53:42from
53:42the
53:42start
53:43near
53:43enough
53:43just
53:44knocking
53:45things
53:45about
53:45rebuilding
53:46them
53:46generally
53:47rebuilding
53:48more
53:48as well
53:49exposing
53:50new
53:50things
53:50and
53:51just
53:51kept
53:51going
53:52on
53:52and
53:52on
53:52really
53:52upstairs
53:54we've
53:54taken
53:54the
53:55bathroom
53:55out of
53:56the bedroom
53:57and then
53:57swapped them
53:59print upstairs
53:59has totally
54:00changed
54:00as well
54:01basically
54:01this was
54:02the original
54:03bathroom
54:03the wall
54:04actually
54:04came along
54:05here
54:05and finished
54:06in a
54:07triangular
54:07shape
54:08here
54:08so we've
54:09reconfigured
54:10all of this
54:10now
54:11we've moved
54:11the wall
54:12back
54:12and pinched
54:14a little bit
54:14of room
54:14from the
54:14bedroom
54:15next door
54:16and actually
54:16made the
54:17second bedroom
54:18into a
54:18bathroom
54:19so that's
54:20a lot
54:20bigger
54:20and more
54:21usable
54:23so with
54:24the internal
54:24spaces in the
54:25cottage
54:26complete
54:26there was
54:27just a
54:27matter of
54:28tackling
54:28the
54:28garden
54:29that was
54:29reached
54:30by a
54:30path
54:30at the
54:31back
54:31of the
54:31house
54:33it had
54:34been cleared
54:34right back
54:35and you
54:36could really
54:36appreciate
54:36how large
54:37the plot
54:38was
54:38but with
54:39everything
54:39now finished
54:40had they
54:41kept the
54:41budget
54:42under control
54:43I think
54:44we've blown
54:45the budget
54:45really
54:45the wife
54:46said
54:4825,000
54:49I think
54:50we've probably
54:50gone
54:5128,000
54:52okay
54:53so a little
54:54overspend
54:54but still
54:55not bad
54:56and they
54:56already
54:57had
54:57friends
54:58ready
54:58to move
54:58in
54:58and rent
54:59it
54:59or did
55:00they
55:01no
55:02that
55:03kind
55:03of
55:03changed
55:04a little
55:04bit
55:04they
55:05decided
55:05that
55:05they
55:06weren't
55:06going
55:06to
55:06take
55:07over
55:07the
55:07property
55:08so
55:08but it's
55:09good for
55:09us
55:09in a sense
55:10because we're
55:10now going
55:11to probably
55:11holiday let
55:12it and get
55:13some enjoyment
55:13out of it
55:14a holiday let
55:15sounded like a
55:16good idea
55:16but what would
55:17two local
55:18property experts
55:19think of this
55:20comprehensive
55:21overhaul
55:22the changes
55:23are quite
55:24spectacular
55:24I thought I'd
55:25walked into
55:25the wrong
55:25house
55:26it really is
55:27special
55:27so much light
55:28now
55:28the property
55:29has been
55:29sympathetically
55:30renovated
55:30to a very
55:30high standard
55:31and I particularly
55:32like the linking
55:33up of the
55:34original piggery
55:34which is now
55:35the kitchen
55:35there'd be good
55:36demand for this
55:36property in the
55:37rental sector
55:37and I would
55:38expect to achieve
55:39a rent of
55:39around £750
55:40per calendar
55:41month
55:41on a per
55:42calendar
55:42monthly basis
55:43you could
55:44probably tiptoe
55:45towards
55:47£650
55:47yeah around
55:49£650
55:49per calendar
55:50month
55:50those figures
55:51for a long
55:52term rental
55:53represented a
55:54yield of
55:54around 5%
55:55but Richard
55:56and Jill
55:57wanted to
55:58see how it
55:58might do
55:59as a holiday
56:00let
56:00the property
56:01would work
56:01well as a
56:01holiday let
56:02it's only
56:02six miles
56:03from the
56:03south devon
56:04coast at
56:04Dawlish
56:04and I would
56:05expect to
56:05achieve in
56:06the high
56:06season
56:06something around
56:07£550
56:08per week
56:09for the
56:09peak holiday
56:10weeks you
56:11could be
56:11looking to
56:11achieve getting
56:13on for £650
56:15a week or
56:16maybe even
56:16£675
56:17that's very good
56:18we'll go for
56:19the second one
56:19yeah that's very
56:20good
56:20that'd be lovely
56:21that's excellent
56:23with the average
56:24occupancy rate of
56:25around 30
56:26weeks a year
56:27that could have
56:28pushed up their
56:29rental yield to
56:30nearer 10%
56:31and they would
56:32get the benefit
56:33of using it
56:33themselves from
56:34time to time
56:34but how much
56:36had they increased
56:37the value of the
56:38house they had
56:38invested a total
56:39of £183,500
56:41into
56:42if the house
56:43was mine
56:43and I was
56:44going to sell
56:44it I'd put
56:45it on the
56:45market at
56:46£250,000
56:47and I'd
56:48hope to get
56:49I'd hope to
56:49get above
56:50£235,000
56:51a similar
56:52property
56:53has sold
56:53recently
56:53for £245,000
56:56and I would
56:56expect to
56:57achieve a
56:57figure in
56:57that region
56:59so there
57:00was a
57:00potential
57:01pre-tax
57:01profit in
57:02the region
57:02of £50
57:03to £60,000
57:04before the
57:05usual
57:06selling
57:06expenses
57:07Jill
57:07had made
57:08good use
57:09of her
57:09inheritance
57:10so would
57:11she have
57:11considered
57:11selling it
57:12on and
57:13taking the
57:13money
57:16I don't
57:16think we'd
57:17ever really
57:17want to
57:18sell
57:18I would
57:19like to
57:19be able
57:19to pass
57:19this on
57:20to my
57:20grandchildren
57:20and I
57:21think the
57:21fact that
57:22Richard's
57:22worked so
57:23hard and
57:23Lyle's
57:23worked so
57:24hard
57:24and I
57:25just think
57:25it'd be
57:26really nice
57:26to stay
57:27in the
57:27family
57:28actually
57:29we feel
57:30really welcome
57:31we feel
57:31we belong
57:32here and
57:32we weren't
57:33expecting
57:33that
57:33you know
57:34I may
57:34have lost
57:35my mum
57:35but I
57:36feel we've
57:36gained
57:37other friends
57:38which would
57:38be something
57:39that she'd
57:39really be
57:39happy about
57:45so that
57:46brings us
57:46to the
57:47end of
57:47today's
57:47show
57:47I've had
57:48an absolute
57:49blast
57:49seeing some
57:49first-class
57:50property
57:50transformations
57:52I've enjoyed
57:52having you
57:53here so
57:54so much
57:54and actually
57:55it's been
57:55quite
57:55inspirational
57:56so much
57:57so that
57:58I've been
57:59in a bit
57:59training myself
58:00really
58:01so what are
58:01you thinking
58:02a sprint
58:02finish to
58:03end the
58:03day
58:03yeah
58:04is that
58:04okay
58:04are you
58:05sure
58:05I'm
58:06sure
58:06okay
58:07Harry
58:07three
58:08two
58:10one
58:11Harry
58:11what's
58:11that
58:11what's
58:12what
58:14I'm
58:15coming
58:15months
58:17I'm
58:17I'm
58:17good
58:17yeah
58:18I'm
58:41good
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