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00:00Hello, welcome to the program. Now, auction properties can range in the state that they're in from things that just
00:09need a lick of paint to ones that need a total refurb.
00:12But actually, that's not a bad thing because the bad ones can sometimes enable you to add value when you
00:19buy your home under the hammer.
00:45Now, auction properties do come with their potential pitfalls, which is why we talk about our golden rules.
00:53Always visit the property beforehand and always read the legal pack.
00:57So, did the buyers on today's show do just that?
01:03First up, I'm in Wiltshire and I'm seeing past the problems.
01:07It's a house that just needs a bit of play around with, but it's a good, solid house.
01:13Then Dion's in West Yorkshire where it's not a great first impression.
01:17We are very dark in here when you come through.
01:23Then he heads to Manchester where the only way forward is a full reset.
01:28You're going to have to take anything out. Start with an empty rectangle.
01:35All these properties have been sold at auction and we'll find out who bought them and what they paid for
01:39them when they went under the hammer.
01:41Yes, we are.
01:47I'm in Wiltshire now and Amesbury, a historic town just a few miles from the world-famous Stonehenge.
01:56With its charming high street, it's a popular spot for tourists, homeowners and investors alike.
02:05Today, I'm here to check out an auction lot nearby.
02:09What I'm here to see is this.
02:11It is a three-bed mid-terrace, guide price, £175,000.
02:16Let's have a look.
02:18Not a bad first impression, although the scaffolding does hint at some ongoing roof work.
02:24But let's not get ahead of ourselves.
02:26Time to take a look inside.
02:30Oh, hello.
02:32Not hello, you.
02:33Hello, well, hello, you as well, but hello to this.
02:36What an interesting layout.
02:38You know, I must have walked into a thousand properties like this and this is a different layout.
02:42I'm so excited.
02:44Oh, yeah, look.
02:45Stairs, yeah, we've had those before.
02:46Entries to the right, whatever that's going to be in a minute.
02:49Yes, but that, we'll explore that in a minute, but that's something there.
02:52What an odd place for it.
02:53Wow.
02:54Anyway, this is your lounge.
02:57Big area, we like it.
03:00Doors out onto the garden, lots of light coming into here.
03:03Yeah, it's a good space.
03:05I've got to go and see the other bit, though.
03:06Ha, ha, ha, ha.
03:09Yes, amazing.
03:10Now, why am I so excited about this?
03:12I have no idea what's going to happen because it is just the kitchen.
03:16It is located underneath the stairs and it is to the right-hand side of when you come in through
03:20the door.
03:20But it's sort of a layout I've never seen before.
03:26Probably because it doesn't work.
03:27So nobody would actually normally do it.
03:30But at least it's something different.
03:32To the side of it, here is this room.
03:35Now, the problem is we've got too many walls.
03:36What we really need is to be able to flick our fingers and make all the walls disappear.
03:41You can reconfigure it.
03:42You can make the kitchen in the right place.
03:43Make the front room a lot smaller.
03:45Well, here we go.
03:54If only it was that easy.
03:56But unfortunately, no matter how hard I click my fingers, there is still going to be a lot of work
04:02needed to improve the flow of the downstairs layout.
04:06But the positives so far are that there is room to play with and there are no major red flags.
04:15Structurally, it seems to be sound.
04:16So let's hope the good points continue.
04:21So upstairs, it really is quite spacious and actually all the rooms seem to be kind of proportioned as they
04:28should be.
04:29Three bedrooms, but that one's a little small, but those two are really nice sizes.
04:34Separate loo and bathroom, that's an obvious fix, isn't it?
04:37And in this case, I just don't think that works.
04:40So I would open that up to make one really nice size family bathroom.
04:44And then, yeah, one of your three bedrooms here.
04:48It's a good size, odd choice of paint colour, built-in cupboards, you know, but at least you've got a
04:53bit of storage if you wanted it.
04:56It's a house that just needs a bit of playing around with.
05:00But intrinsically, it's a good, solid house.
05:06Yes, this house is really just in need of a little TLC.
05:17So how do things shape up outside?
05:23OK, so out at the back of the property, well, you know, nothing too super glamorous, but there's a decent
05:29sized garden that, you know, just spend a little bit of time sorting this out and you could create a
05:36really nice space.
05:37It looks like it's south facing, so you're going to get the sun all day.
05:41This could be absolutely beautiful.
05:43Baby, I'm ready to go.
05:46I'm back and ready to go.
05:50From the rooftops, shout it out.
05:52This property's appeal might not shout from the rooftops, but for those who can see beyond its floors, the potential
05:59is hard to ignore.
06:00So could there be big returns on the cards?
06:04We invited a local estate agent to share his thoughts on how you can add value to this three-bed
06:11terrace guided at £175,000.
06:16It would certainly need full renovation in terms of walls, floors, new carpeting, new painting.
06:22You'd also be wanting to put in a new kitchen.
06:24I would also be combining the bathroom and the toilet to make one bathroom.
06:30And what are his thoughts on reconfiguring the downstairs?
06:35I would make the layout changes with moving the kitchen to the back of the property and maybe opening up
06:41some bi-fold doors to the rear garden.
06:43A kitchen, snug dining area.
06:45And then I would move the living room to the front of the property and open that up to be
06:50a nice one big space.
06:53So the agent agrees with me.
06:55A few walls may need to come down to maximise the space.
06:59And after a full renovation, what does he think this property could achieve on the sales and rental markets?
07:09Once renovated, this property could sell for £265,000 to £275,000.
07:15And this property could rent for around £1,200 per calendar month.
07:22Yep, so it looks like this place is looking for somebody with magic clicky fingers.
07:28Yeah, it's a good house.
07:29Just needs a bit of internal modification.
07:32And, yeah, well, modernising.
07:35Let's see who bought it when it went under the hammer.
07:40This lot was part of a remote auction with bids taking place online.
07:44Sold.
07:45Well done.
07:49The winning bid of £185,000 came from Salisbury-based builder Emlyn.
07:55He knows a thing or two about renovating rundown properties, and as well as being able to pick up the
08:00tools himself, he also has a team on board to help out.
08:06I'm meeting up with him to find out what he has planned for his new project.
08:11Emlyn, great to be here.
08:13Congratulations.
08:14Congratulations.
08:15To tell me why you wanted to buy this house.
08:18It's a good, solid house.
08:20Three beds.
08:22Pretty much internal work that needs doing only.
08:24Right.
08:25Apart from the roof, but no extensions or anything like that.
08:28So it just fits the good sort of flip bill.
08:31Is this what you do flip?
08:33We've done a couple.
08:34We don't do it sort of all the time.
08:36We do it sort of a little sideline alongside other businesses, but we have done a couple before we end.
08:40Okay, just in case anyone knows a flip is where you buy it.
08:42Do it up, sell it on relatively quickly.
08:44Yes.
08:45So you say you've done a few.
08:48Is this what you do?
08:50We've got a building company.
08:52Okay.
08:52So we work on a couple of government contracts doing building and maintenance and sort of do a little bit
08:58of this as well to mix it up a little bit.
09:00Do you enjoy doing this kind of thing?
09:02Love this sort of thing, yeah.
09:03This is definitely our favourite sort of work.
09:05Right.
09:06Why was it this house that attracted you?
09:10Local.
09:11It's only down the road for us.
09:12Like I said, it's a good solid house.
09:14All the internal walls, brick or block.
09:17I think it will do well either to sell on or rental.
09:20It's got a good garden, good driveway.
09:23Internal layout though, downstairs.
09:26Yep.
09:26What are your thoughts?
09:28I think we're definitely going to take the wall out behind you into the kitchen to try and make it
09:33feel a bit bigger.
09:35Makes perfect sense.
09:36So where would the kitchen be?
09:38The kitchen will be behind you around there, but we're hoping like an island.
09:41When we take the wall out, we'd have like a big island which would act sort of a bit of
09:45worktop and also be eaten.
09:47So to be clear, you're taking out the wall over there between this room and the utility.
09:50What about this wall here?
09:51Is this coming out as well?
09:52It'll come from that wall to there.
09:53It'll come sort of halfway along.
09:54So part of it will stay because that chimney goes all the way through.
09:57We'd like to maybe fit a downstairs loo, depending on how the drainage works.
10:01We've got to look into that.
10:03And upstairs between the bathroom and toilet, there's a wall.
10:06We'll probably take that out and just make it one big bathroom.
10:09Okay.
10:09And then the garden, just plans for that?
10:11Garden, be a new patio.
10:14New fence on one side, generally tidy it up.
10:17It's a good garden, it's nice and square, all laid flat.
10:20So yeah, just a new patio and tidy it up.
10:22What a difference that's going to make.
10:23Right. What kind of cost have you set aside for that?
10:28I think it'll be a minimum of 20.
10:30Hopefully, definitely no more than 30.
10:33But that's you doing it?
10:34That's me doing a lot of it.
10:36And you're a builder?
10:37I'm a builder, but obviously you're going to have to get still sparks, plumbers.
10:40Yeah.
10:41But the roof needs completely redoing.
10:43Right.
10:44That's not cheap.
10:44Kitchens aren't cheap.
10:45Bathrooms.
10:46Even with doing it, building materials aren't cheap.
10:48So you put the scuffling up?
10:49Yeah.
10:50I don't know how the weekend's.
10:51Right, right, okay. Keen to get on then?
10:53Yes.
10:55Sorry for you getting in your way, are we?
10:56We'll get out of here as quick as we can.
10:57Stay and help.
10:59Yeah, thank you.
11:00Yeah, terrific.
11:01What kind of time scale?
11:03That's a difficult one.
11:04I'd say probably around three months.
11:07If we're not too busy on other things, it'll be a lot quicker.
11:11Depends on the other side of the other businesses, how that is, really.
11:14Okay.
11:15Well, that's the general plan.
11:16And then move on to other things?
11:18Yeah, we'll get this one done and then just sort of, we're always casually looking, seeing
11:22what's about.
11:23Seeing what's about.
11:25How long have you been doing this for?
11:26Is this what you've always done?
11:27No, I've been building all my life, really.
11:30So my dad was a builder, my uncles were a builder, so I've always been in building.
11:33But property, probably the last sort of three, four years.
11:37And how's it going for you?
11:39Good.
11:40Yeah?
11:40Yeah, it's good.
11:41It's all about sort of what's on the market, getting it for the right price.
11:44But yeah, we really enjoy it.
11:46Well, listen, congratulations.
11:48Good luck with it.
11:49I hope we'll see you on how you get on.
11:50Brilliant.
11:54Well, great news.
11:56Emily's got my click and it looks like those internal walls will be gone.
12:01Now, you might not be able to see instantly what happens, but don't fear.
12:05All you have to do is wait till later in the show to see how it all turns out.
12:14We're heading to Leeds, Yorkshire's biggest city, where heritage and high street culture
12:20sit side by side.
12:21The Victorian Corn Exchange and surrounding streets draw shoppers from far and wide.
12:28Many pass the bold statue of the Black Prince.
12:32Oh, I'm standing here, I'm froze
12:35As the world goes round again
12:39A medieval warrior who never visited Leeds, but came to symbolise its strength in spirit.
12:51Dion's here to make his own mark in the suburb of Beeston, where an auction lot awaits.
12:58So, I am in Leeds, and yes, it might be bright, but it is very cold up here today.
13:03The property I'm here to see is on this road here.
13:06It stops there, then you've got a bit of greenery at the back there.
13:09So, somewhere to walk, somewhere to walk your dogs as well.
13:13The property I'm here to see, it needs to work on its curb appeal,
13:16but it's a two-bed, back-to-back terrace property.
13:20Went to walk you with a guide price of £60,000.
13:23So, a bit of work to be done on the outside.
13:26Let's see what it's like on the inside.
13:34Oh, wow.
13:36We are very dark in here when you come through the door,
13:40but as soon as you get in a couple of steps and you've got these stairs,
13:43quite steep stairs, they'll be going to the bedrooms.
13:46And then here we have got what would be, or will be, the lounge.
13:51And having done a bit of research,
13:53I know that there's been some kind of fire and smoke damage,
13:57as you can see right here.
13:58Very, very dark.
13:59I would imagine that this is all going to have to go back to brick again
14:04because it's very hard to get rid of that kind of stainage.
14:08Right, back-to-back houses.
14:09Here's your lounge.
14:11Beyond that wall, there will be another lounge.
14:16Back-to-back houses.
14:18That's somebody else's.
14:19That's not yours, but it's completely the same as this house.
14:24It just mirrors it.
14:25Back-to-back houses.
14:27That's basically it.
14:28This is your lounge.
14:29What's down here?
14:30I don't know.
14:32Let's find out.
14:38Well, we've got the kitchen downstairs in what feels like the cellar.
14:43You can see lots of fire damage.
14:45I can see the burn remnants there around the door frame and everything as well.
14:51I can see a door going out to go up, back to the road level.
14:56It's a good-sized room, I've got to say.
14:58Don't like the height of the ceiling, but the room is a good size, and you could brighten
15:03it up with some nice paint, maybe a bigger door.
15:06Yes, a lot of work to be done.
15:09I like the space, I like the size of the room, don't like the height of the ceiling.
15:14A lot of work to be done.
15:16When fire's been about, even a little, the best bet is usually to strip things right back
15:22and build up again.
15:24That lets you catch any issues like damaged wiring or plumbing before it causes trouble.
15:31While you're at it, you could look at moving things around and put the kitchen upstairs.
15:36But in a back-to-back like this, downstairs kitchens are part of the charm, as are the stairs.
15:44You gotta get up and go.
15:54Right, I've just come from the basement, I've come past the ground floor, and I'm now on the first floor.
16:00Okay, we've got a bedroom, and we've got a family bathroom here.
16:03I can see a hole in the floor and around the toilet, and we've got a hole in the roof
16:08as well.
16:09So what I would do with the bathroom, not a bad-sized bathroom, you've got everything you need in there,
16:13but I would make good the problems, strip everything out, and then put a brand new suite in there.
16:19That would be sorted, no problem at all.
16:22And then you've got a decent-sized double-bed room in here as well.
16:27Loads of light coming in nice and bright in here, and I haven't said that much in this house.
16:33I've got to say, I don't mind a house in this condition.
16:36There's not an awful lot to take out, and you can actually see what you're working with,
16:42and then you can actually see what you can achieve.
16:45Not bad.
16:48The house is starting to feel a lot more inviting,
16:51but as this is a back-to-back property, there's no outdoor space to speak of,
16:57which might deter someone looking at this as a family home.
17:01But as a rental, it would be one less thing to worry about.
17:05And if your legs can handle the stairs, the views at the top are a nice reward.
17:13Stairs, stairs, and more stairs.
17:16Right at the top of the house now.
17:20This is your second bedroom.
17:22A little bit smaller than the bedroom downstairs.
17:25Got a little bit of storage there.
17:28And the boiler.
17:29First and foremost, get the boiler checked to make sure it's safe.
17:33But it's not too bad, because it's kind of enclosed,
17:35so it's not too bad at all being in a bedroom that's all boxed off.
17:41Listen, it's pretty clear to see what needs to be done here.
17:44Just make sure you've got the right budget,
17:46and make sure you want to put this place on the right market as well.
17:50So it's all about research.
17:52This two-bed terrace needs a top-to-toe refurb.
17:56And to give us the lowdown on the local market,
17:58and what it could be worth,
18:00we've invited along an expert from the auction house
18:03that listed it with a guide price of £60,000.
18:08So we're in Beeston, a fantastic community area,
18:11and a really great place for lots and lots of rental properties,
18:14which typically tends to be the core market sort of in this area.
18:19So the property we're in is what I would sort of deem as a full renovation job,
18:23new kitchen, carpets, the full works pretty much.
18:27So it does seem like there's been signs of fire damage,
18:29probably caused initially from the kitchen,
18:31and obviously smoke damage making its way up.
18:34I do think, however, as part of the renovation,
18:37stripping back to brickwork and things like that,
18:39any issues from that would just be naturally resolved anyway
18:42as part of the refurbishment.
18:44So once this place has been modernised throughout,
18:46what sort of returns could a potential buyer see
18:49on both the rental and sales markets?
18:53Once renovated, my rental valuation would be £850 per calendar month,
18:58and my sales valuation would be £125,000.
19:03Hello, viewers.
19:05Is there anybody watching this show?
19:08Ah, there you are.
19:10There you are.
19:11I've got to stop messing about.
19:13Right, we've got a two-bed, back-to-back house.
19:16Yes, it needs a lot of work because of the smoke and the fire damage.
19:20If you've got the right team of builders who know what they're doing
19:24and a decent budget,
19:25I believe this could be a property worth getting hold of.
19:30Get your paddle up.
19:31Let's see what happened when it went to auction.
19:37This lot was part of a remote auction,
19:40with bids taking place online.
19:42Sold. Congratulations.
19:46It sold for £81,000
19:48and was picked up by Manmeat and her husband Preet,
19:52a couple of experienced developers.
19:55Inspired by Homes Under the Hammer three years ago,
19:58they've been building their portfolio ever since,
20:00and Dionne's meeting them to find out
20:02what they have got in store for this one.
20:08Manmeat, Preet, nice to meet you.
20:09Nice to meet you, too.
20:10Nice to meet you.
20:11Congratulations, you've got a project to be getting on with.
20:14Who's responsible? Who found it?
20:16She found it.
20:17That's you? Yeah.
20:18I'm the one to blame.
20:20OK, well, I don't know,
20:21because there doesn't seem to be a lot of work to be done.
20:24No, it's not that bad, yeah.
20:25Why did you like it? What made you...?
20:27We usually tend to go for this area.
20:29OK. And we're familiar with the area.
20:31OK. And so, just another project, really,
20:33to get our teeth into.
20:34OK, so have you got projects going on elsewhere?
20:37Yes, yeah, in the same area.
20:38We've got another two going on, yeah.
20:39With that in mind, did you view this one?
20:42No. With this area, we've stopped.
20:46Kind of, we don't view it anymore.
20:47We know what the houses are like
20:49and what the project entails, really,
20:51cos we've done about a good three or four now.
20:53Good, good, good.
20:54And what was the plan for it?
20:56To sell it or to rent it?
20:57To rent it.
20:58Straight on to the rental market?
20:59Correct, yes.
21:00And how are you going to turn it around?
21:02Because smoke damage, bit of fire damage downstairs...
21:05Yes.
21:06Did you...
21:06When you first came in, did that worry you at all?
21:09No, we saw it on the auction pictures they had for the house, yeah.
21:13So we knew there is smoke and fire damage to the property,
21:17no, that didn't faze us at all.
21:19Obviously not, cos you went straight for it and now you've got it.
21:22Yeah.
21:23You've got another project to be getting on with.
21:25Where do you start then?
21:26What do you do?
21:27I'd like to do that.
21:29Yes, I doubt you that one.
21:30That's his side.
21:31So we'll start at the top, extend the loft first.
21:33There is a loft already there, but it's only one bedroom.
21:36Gotcha.
21:37And if you look around all the other properties,
21:39they've got the extended lofts,
21:40so that's what we're going to do,
21:41just make match-up to all the rest of the properties in the street.
21:44OK, what will that give you?
21:46So that'll give us one box room and one main bedroom upstairs.
21:49OK, so two right at the top?
21:51Yes.
21:52OK.
21:52And then we'll take chimneys out throughout the property
21:55so that I'll add a bit more space on.
21:57And then on the middle floor will be a bathroom and a master bedroom.
22:01Gotcha.
22:01And then on this floor will be living room,
22:03just as it is, all refurbished.
22:06Yeah.
22:07And then downstairs, kitchen, diner, plus another extra bathroom.
22:10Perfect.
22:11Who's going to do the work?
22:12So we've got a built team.
22:14They'll do majority of the work,
22:17sort of 70%, 80% of the work.
22:19OK.
22:19And then we've got tradesmen come in to do the wiring,
22:22new wiring, new plumbing, new heating, new boilers,
22:25that kind of stuff, yeah.
22:26Any other family members getting involved?
22:28Just the two of us and my brother and his team.
22:30Nice.
22:31Oh, OK, so it's his brother and his team, so...
22:33Yeah.
22:34There's a little bit of family there with your brother.
22:36There is, yeah.
22:37OK, and that's your kind of trusty team?
22:40Yes, correct, yeah.
22:41100%.
22:42100%.
22:43100%.
22:50Preet and Manmeet have quite the team behind them.
22:54Their 12-year-old son, Viru, is keen to learn the ropes,
22:59while Preet's younger brother, Ravi, is leading the way on site,
23:04joined by cousins, Gur Preet on the left and Gur Tesh on the right.
23:10Manmeet will be handling the finances,
23:13while Preet's taking on the role of project manager.
23:16It's safe to say this one's a real family affair.
23:20What kind of finish do you go for in your properties?
23:24Simple, really.
23:25Yeah, simple, but very high standard, so we don't use, like,
23:28all the plastering that we're going to redo,
23:31it'll be all insulation with the insulated plasterboards.
23:34Yeah, so that is very efficient on energy and stuff.
23:38But, yeah, the finish, it'll be maculate.
23:40OK.
23:41Windows?
23:42Yes, new windows.
23:43I don't think they all need replacing,
23:46but, yeah, wherever it needs replacing, we'll replace them.
23:49You'll replace them.
23:50Right, then.
23:50The big questions.
23:51I love these questions.
23:52How long is it going to take you to do this place?
23:54So we're projecting about four months,
23:57between three and four months.
23:59That is very confident, I like that.
24:00And your budget?
24:02So we, for this property, we're budgeting around 35, 30 to 35.
24:07OK.
24:08So healthy, good timescales, healthy budgets as well.
24:11Good on you.
24:12I wish you all the best.
24:14And I hope it works out.
24:15Good luck.
24:15Thanks, dear.
24:17So, Manmeet and Preet are very confident of turning this place around.
24:22Now, I'd normally give a yellow card for not viewing the property,
24:25but they've got other back-to-back two beds within the area,
24:29so they've done it before.
24:31They're experienced.
24:32They've got a team of builders.
24:34They've got four months to do the work,
24:36and they've given themselves a £35,000 budget.
24:40I think everything's in place.
24:42Bit of work to be done, but I think it'll be fine for them.
24:45You can find out how they get on later in the show.
24:50Still to come in Manchester, Dion has a blast from the past.
24:54My mind has just shot back to the 70s, I'm going to say.
24:58You've got to re-decorate that bathroom.
25:01Then, back in Leeds, we see how Manmeet and Preet got on.
25:04It's come out to be a really nice house for a family to come in and enjoy
25:09for a number of years.
25:13But first, back to Amesbury,
25:15where I saw a three-bed guided at £175,000.
25:22Oh, hello.
25:23The kitchen was just off the hall,
25:25with a corridor leading to the back garden,
25:28and the main living area was the other side of the wall.
25:32To me, the downstairs just didn't work.
25:37It's sort of a layout I've never seen before.
25:39Um, uh, probably because it doesn't work.
25:43What we really need is to be able to flick our fingers
25:46and make all the walls disappear.
25:48It was bought for £185,000 by Emlyn,
25:51a builder who runs a construction company.
25:55He had the knowledge on how best to tackle
25:58the configuration downstairs.
26:02What are your thoughts?
26:03I think we're definitely going to take the wall out
26:06into the kitchen to try and make it feel a bit bigger.
26:10What about this wall here?
26:11Is this coming out as well?
26:12It'll come from that wall to there.
26:13It'll come sort of halfway along.
26:15So part of it will stay,
26:16because that chimney goes all the way through.
26:17Emlyn had already started work repairing the roof
26:21and hoped between him and his team of trades,
26:24the rest could be done in three months for £30,000.
26:28Now we're back just ten weeks later
26:31and the roof has been felted, battened and tiled,
26:34which is great.
26:35But the real question is,
26:37has Emlyn managed to sort the odd layout out downstairs?
26:41Do me, do me, when I see you coming
26:46I can take it off
26:48You're so fine
26:51And the world seems to disappear
26:54All the problems, all the fears
26:58And the world seems to disappear
27:02Some walls have indeed disappeared
27:05and others have gone up to create the layout that Emlyn wanted here.
27:12We took away one of the entrances to the kitchen and a cupboard
27:15to fit the downstairs loo in and with the utility
27:19you could afford to rob a little bit of the kitchen.
27:21And we removed the wall in the kitchen
27:25so you've got like an open plan rather than just a pokey little kitchen.
27:29The addition of a utility room in the old corridor is a great use of space.
27:34There's a new radiator, powerpoint and plumbing
27:38so you can pop white goods under the new unit that match the kitchen decor.
27:44And there's been more improvements in the rest of the house.
27:47We changed the layout a little bit upstairs.
27:51The bathroom was extremely cramped.
27:53We had a tiny little loo, sort of struggled to get in there and then shut the door.
27:57We knocked the wall that was between the toilet and the bathroom out
28:01to just create one better-sized bathroom.
28:03The rest is all rewire, full re-deck, flooring, everything.
28:08A little bit of structural work on the front.
28:11We had to take the porch down, replace some of the bricks, nothing too major.
28:16There was some bad cracking so we dealt with that.
28:18New patio, new central heating system.
28:22A bit of drainage we had to do.
28:24Absolutely everything got done.
28:34This transformation might be magic, but it's taken more than just a click of the fingers to make it happen.
28:40Who has been responsible for the hard graft over the last ten weeks?
28:45Mainly myself, but obviously got a really good team.
28:49We had the same team for years.
28:50Really, really good guys.
28:52We've done the plumbing, the electrics.
28:55A real good, solid little team.
28:57So, yeah, it's probably come a bit under than what we originally thought it would take.
29:00Everyone's just mucked in and worked hard.
29:02It's very, very satisfying to see what the house was like at the start to what it's like now.
29:07It's really nice, hard work and stressful doing it at the same time as running other businesses, but we do
29:13enjoy it, yeah.
29:15The finish is really impressive, and although Emlyn's plan was originally to flip, he's now unsure and may rent.
29:23But either way, the place is ready to go.
29:28We've gone a bit above basic.
29:31One of my worst things is I always get a little bit carried away and do it a little bit
29:35too high-end,
29:35because the little bit more that you can spend does give a much better finish.
29:40And even though he's been able to tackle a lot of the work himself,
29:44with big costs like the roof, new kitchen and bathrooms, how much did he end up spending?
29:50There's still a couple of bills to come in, but I think we're around 25 at the moment,
29:54so it's OK, especially for the finish that we've got.
29:58Emlyn has completed the job well within his original £30,000 budget.
30:06But with a total spend of £210,000, including the purchase price, has he invested his money wisely?
30:13We asked along a local estate agent for his thoughts and valuations.
30:17Now the work is complete.
30:20I've seen the pictures before, and they've done a fabulous job.
30:22Before, they had a door that went into the kitchen.
30:24They've now turned that into a downstairs toilet, which is a great use of the space,
30:28rather than just having a circle around the house.
30:30They've broken it up and it makes it look a lot better.
30:32And kitchen and dining, perfect.
30:36It's a big thumbs up from the agent.
30:39So with Emlyn still unsure whether to rent or sell the property,
30:42can his valuations help him make a decision?
30:45To sell the property, I would expect to achieve around £270,000.
30:50Yeah, pretty happy with that.
30:52Yeah, I was hoping for a roundabout that, maybe a little bit less.
30:55So, yeah, that's pleasing.
30:58That would give Emlyn a pre-tax profit of £60,000,
31:01which is pretty impressive for 10 weeks' work.
31:04But what if he wanted to make this a longer-term investment and find a tenant for it?
31:11On the rental market, I'd expect to get £1,200 per calendar month.
31:15I'd hope to get a little bit more than that.
31:18So, with Emlyn aiming higher than the nearly 7% yield estimated by the agent,
31:24could there be another plan in place?
31:26We think possibly short-term we'll rent it,
31:29but with that good valuation, if other projects come along
31:33where we may need to fund them a little bit,
31:35we've always got that option of selling that.
31:38Whichever route they go down, it looks like that it will lead
31:41to another successful property project for Emlyn.
31:45And he's already got another one underway.
31:48He must get a real kick out of these renovations.
31:53Yeah, I do enjoy it.
31:54Probably moan to my missus a little bit,
31:56but I do enjoy it, yeah, it's a rewarding one.
32:02Off now to the magnificent northern powerhouse city of Manchester.
32:07And amongst its storied history is the fact that in 1888,
32:13the world's first professional football league
32:16was set up in its royal hotel.
32:21Dion's here in the northern suburb of Blackley,
32:23so will the auction lot he's here to see be in a league of its own?
32:30So, I'm in north Manchester today.
32:33The sun is out and the shorts are on.
32:36I'm here to see a semi-detached house,
32:39three beds, and it went to auction with a guide price of £90,000.
32:44Now, as I look at the house, I can see decent windows,
32:48I can see a decent front door,
32:50and you've got nice, large front garden area.
32:55It is 25 past 10 in the morning,
32:58and the sun is beating down on your front garden.
33:01This is a bonus.
33:02No off-street parking, but I know,
33:04because I've done my research, that there is a garage at the back,
33:07so that's a bonus.
33:09Don't let me down the house.
33:10Come on.
33:18Nice, nice.
33:20Oh, that is a good, solid door.
33:23Keep the door.
33:24That's going to save you a couple of quid.
33:26Then you've got a little bit of a hallway here.
33:28Stairs right in front of you.
33:30They're going to the bedrooms.
33:31And then you come into here,
33:32and I've not even stepped two steps into this room yet,
33:35and this, it hits you in the face,
33:37this is a stonemason at work.
33:39This would have taken painstaking hours to put this all together.
33:43And that's what I thought, anyway.
33:46Until I seen that.
33:49The wallpaper over the light switch.
33:54Can you believe it?
33:56Someone's taken the detail to go over that.
33:58It's not quite stone.
34:00It's wallpaper.
34:01Not the prettiest in the world.
34:03That has to come down.
34:04What is pretty is the bay window.
34:06Keep the windows as well.
34:07That's going to save you more money.
34:10Gas fire here, that's very old-fashioned,
34:13so that would have to come out.
34:14Can't see a radiator as yet.
34:17Hopefully there's heating.
34:18There may not be.
34:19But the room is a good size, so that's good.
34:22It's a redecoration.
34:23It's to take the fireplace and the gas fire out
34:27and get this room sorted.
34:28Done.
34:29Easy.
34:30Move on.
34:33Right, into the kitchen area.
34:36You know what?
34:36It's not a bad-sized kitchen at all.
34:38What else have we got?
34:39OK, so we've got some storage as well,
34:42somewhere to put your coats and stuff
34:43and put some shelves up.
34:45You can put your tins in there, which is good.
34:48Bit of a pantry-cum-cloat room.
34:51Downstairs, toilet.
34:52I do like a downstairs toilet, so that is handy.
34:55And then you're into this good-sized kitchen,
34:59but it looks like a bit of a DIY kitchen from here.
35:02Look, you've got doors kind of falling off.
35:05Shelf shelves have been put up at a later date.
35:08All this will have to come...
35:10Woo, you've got panels here.
35:14Panels on two walls.
35:16Let's throw this wall over here.
35:17That's panelling as well.
35:18So you've got three walls that are full of this false panel.
35:23You're going to have to take all this off.
35:24What's it hiding?
35:26What's behind it?
35:27What are you going to have to spend your money on?
35:29Something to consider as well.
35:31It's a good-sized kitchen.
35:32Don't get me wrong.
35:33But you're going to have to take everything out.
35:36Start with an empty rectangle.
35:38Put your own stamp on it.
35:39Make it right.
35:40The windows looking out into the back garden
35:42are solid as well.
35:44It's all OK.
35:46Nothing frightens me.
35:47That room there can be sorted.
35:49This can be sorted.
35:50And you've got a downstairs loo and a bit of storage.
35:53It's all good.
35:55Upstairs.
35:58Hold your horses.
35:59Let's take a quick look at the back garden.
36:02It's a modest size,
36:04with the garage on the left
36:06partly hidden by the overgrowth,
36:08taking up a fair bit of the space.
36:10But there's not too much work needed here,
36:13and it could be a nice little sun trap.
36:16Back inside,
36:17let's see what else this three-bed semi has to offer.
36:22OK, so we are upstairs then,
36:24and we've got three bedrooms,
36:27and you've got the family bathroom now.
36:31My mind has just shot back to the,
36:33I don't know,
36:34late 70s, I'm going to say.
36:36You've got to redecorate that bathroom.
36:39This is the bedroom
36:40on the back of the property.
36:42We've got a gas fire in the bedroom.
36:44Don't like it.
36:45Take it out.
36:47Nice big window,
36:48double-glaze window.
36:49That can stay.
36:50Saving your money
36:51as I'm walking around.
36:52This bedroom is on to the front of the property again.
36:56The windows look fine.
36:57But this is a box bedroom.
36:58I don't often show you the box bedroom,
37:00but here we are.
37:02Here we are.
37:03It's quite spacious, isn't it?
37:05It's quite good.
37:06Double-glaze window.
37:07I don't know who's put these double-glaze windows in,
37:09but they have lasted the test of time,
37:11or they've been put in at a later date.
37:14Polystyrene tiles in here.
37:15You'll get a three-quarter bedding here.
37:17You get a single bedding here.
37:19Maybe a desk and a chair.
37:20That is it.
37:21The whole of the house is solid.
37:23It's fine.
37:24Configuration works.
37:26What more do you want?
37:36Well, I could think of a few things a buyer might want.
37:41For a start,
37:42no polystyrene tiles on the ceiling
37:44as they are a fire hazard,
37:46as well as a new bathroom and a new kitchen.
37:50But all these jobs do mean they're scoped to add value.
37:55So what will an expert from the auction house who sold the lot think of the potential here?
38:01We invited one along to take a look at this three-bed semi they guided at £90,000.
38:09As you would expect, the property does need some TLC, you know, there's some things that need doing.
38:13On the face of it, you have a look, and the decor is a little bit interesting, the carpets are
38:18a bit twee, but they're the easy things.
38:20There are other things, I think, that are going to be more fundamental, like you've got to be looking at
38:24the electrics, there's no gas central heating, so there is some work to be done here.
38:29With these changes in mind, what could the property yield on the rental market?
38:36Once renovated, I'd expect the rental value of this property to be £1,200 for calendar month.
38:42And what if it were to be updated for the resale market?
38:47My sales valuation would be in the region of £200,000.
38:52I think this house is solid.
38:54It needs a bit of time, effort and money spent on it.
38:58Tidy up out here, inside the house itself, new kitchen, new bathroom, full rewire,
39:04and gas central heating.
39:06Keep the windows, back door and front door, a fine.
39:09And then just decorate, that's all it needs.
39:12This is a great lot to get hold of.
39:14Let's see who agreed with me when he went under the hammer.
39:21This lot was part of an auction with bids taking place online and in the room.
39:26Yes, we are, that's yours.
39:31It was property developer Arter who snapped it up for £149,000.
39:41Arter has been on the show before, nearly a decade ago,
39:45when he renovated a three-bed semi in the nearby town of Swinton.
39:50Now Dion's meeting up with him to see what he has planned for his latest purchase.
39:56Arter, nice to meet you.
39:58Hello, Dion, nice to meet you too.
39:59But you've been on the show before?
40:01Yes, correct.
40:02Who with?
40:03With Martin.
40:04With Martin?
40:05Yes.
40:06When?
40:06It was around nine years ago.
40:09Nine years?
40:11Why have you left it so long?
40:13We've missed you.
40:14Yeah, me too.
40:15And you're still going?
40:18I remember when I spoke with Martin,
40:20the plan was to buy every year one house.
40:24At the moment I have 16.
40:27No!
40:28So every year one and a half, let's say.
40:32But not all for my money, obviously.
40:36I lend some money from an investor as well.
40:39Okay.
40:39Where do you start?
40:41Because I like this.
40:42This is my plan.
40:44My strategy is to buying and renting them out, yes?
40:49So, like usually, we're buying the worst house on the best street.
40:55Trying, I'm trying.
40:56So what's the first thing you're going to do?
40:58New kitchen, definitely new kitchen.
41:01New bathroom.
41:02Yeah.
41:03And as you can see, there is no gas central heating.
41:06Gotcha.
41:07So we need new gas central heating, new boiler.
41:11In the kitchen, you've got panels on the walls everywhere.
41:15Yeah.
41:16Do you know what's going on behind those panels yet?
41:19No, I just got the key yesterday evening,
41:20so I don't know yet, to be honest.
41:23But I got my bill there.
41:25And I hope no ghost or something similar.
41:30So, yeah, he will do the job.
41:35Let's hope there's nothing ghostly behind those kitchen walls.
41:39But if anything does go bump in the build,
41:42Artur has got his friend and trusted builder, Robert, on hand.
41:47They've worked on plenty of projects together,
41:50and Artur's no stranger to the process.
41:53Still, following my advice from all those years ago,
41:56he's done his research here,
41:58and he thinks this place, once complete,
42:00could bring in a solid return on the rental market.
42:05OK, upstairs then,
42:07because you've got three good-sized bedrooms, I think.
42:09Yes.
42:10There's a little tiny bathroom.
42:12Maybe I'm thinking to steal something space from the room.
42:16From the bedroom?
42:17Yes, so then maybe it can be a little bigger.
42:20But I'm not sure, because we have a tiny budget.
42:23The budget is around £25,000.
42:26That is not a bad budget, because I'm trying to think,
42:29you're not knocking any walls down, are you?
42:31Exactly.
42:31So you're doing a full refurb, gas central heating,
42:35Yes.
42:35kitchen, bathroom,
42:38and a little bit of work out of the back garden?
42:41Yeah, tidy up the garage,
42:44because additionally we've got a garage.
42:46It's always a bonus.
42:48Yeah, finger crossers, that's everything.
42:50We'll go smoothly.
42:51Yeah.
42:52And we can meet here in two months' time, I believe.
42:56Is it two months?
42:56Is that the time scale?
42:57Yeah, this is the time scale.
42:59Well, the thing about it is,
43:00you don't very often find houses like this.
43:03This is a good, solid house.
43:04The layout's good,
43:06and all you've got to do
43:08is everything you've told us,
43:09which is, you know, pretty basic,
43:11but you've done it before,
43:13and I can't see it being a problem.
43:15So, I want to wish you all the best,
43:17and when I see Martin,
43:19I'll tell him you said hello.
43:20Good luck.
43:20And thank you, Dion.
43:22Cheers.
43:24Arta's got everything sorted.
43:26Don't forget,
43:27when he met Martin many years ago,
43:30Martin gave him some words of wisdom,
43:32which he's using right here on this project,
43:35and he's banging it on the rental market.
43:37You can find out how he gets on
43:39later in the show.
43:44Back now to the lead suburb of Beeston,
43:47and a two-bed back-to-back
43:48spread over four floors,
43:50guided at 60,000.
43:52And if you were wondering
43:53what back-to-back meant...
43:55Here's your lounge.
43:56Beyond that wall,
43:58there will be another lounge.
44:01Back-to-back houses.
44:02That's somebody else's.
44:04That's not yours.
44:05But it's completely the same
44:07as this house.
44:09It just mirrors it.
44:10Back-to-back houses.
44:12But what didn't need much explanation
44:14was what had happened to the house.
44:17I can see lots of fire damage.
44:19I can see all the sort of...
44:21the burn, the remnants there,
44:24around the door frame and everything.
44:26A lot of work to be done.
44:27Yes, this was damaged goods,
44:29but having acquired the house
44:31for £81,000 at auction,
44:34Preet and his wife
44:35man-meat could see beyond
44:36its current condition.
44:39How are you going to turn it around?
44:41Because smoke damage,
44:43bit of fire damage downstairs...
44:44Yes.
44:45Did you...
44:45When you first came in,
44:46did that worry you at all?
44:48No, that didn't...
44:48That didn't faze us at all.
44:50Yes, these were experienced
44:52property developers.
44:53And with a £35,000 budget
44:55and his brother's
44:56family building team lined up,
44:58the couple were hopeful
45:00four months' work
45:01would get the house
45:01ready to rent.
45:03Five months on,
45:04we're back.
45:05Well, it's already
45:06looking smarter from the front
45:08and inside,
45:09what have Preet
45:10and his brother Ravi
45:11been up to?
45:12Did the whole reefer
45:13back to brick
45:14and then built it back up.
45:15So, what has it
45:17been built up to?
45:18We've got a kitchen
45:19dining downstairs
45:20in the basement.
45:23Wow, so that area
45:25has gone from burnt
45:26and black
45:26to bright and light.
45:31What's next?
45:38And on the first floor,
45:39we've got the living room.
45:48This room has really
45:49benefited from having
45:50the chimney removed,
45:52creating more space.
45:55And then on this floor,
45:56we've got one...
45:58Bed.
45:58It's a decent-sized bedroom
45:59and bathroom.
46:05Yep, another smart finish.
46:09And there's still
46:10one more floor to go.
46:16And then another
46:17decent-sized bedroom upstairs.
46:21The initial plans
46:22were to convert it
46:23and put another bedroom,
46:26like a small bedroom there.
46:27But then we spoke
46:28to the architect
46:29and everything,
46:30so we left it
46:31as a two-bedroom.
46:31is, yeah,
46:33two good-sized bedrooms.
46:37They also scrapped plans
46:39to add a downstairs bathroom
46:40so that there were
46:42no layout changes.
46:43But this is a top refurb
46:46and it's very much
46:47a family affair.
46:52I'm their family builder
46:53and plus he's my brother.
46:55But obviously,
46:56he's the one
46:57who gives us the ideas,
46:58like, you know,
46:58what paint or what tiles
47:00or whatever we're going through.
47:01But it's just me
47:03and two boys downstairs.
47:05The other one is not here.
47:07Just all four,
47:09four of us,
47:09we've just done
47:10from the scratch
47:11to this.
47:12That's here.
47:14They did get the trades in
47:16for the electrics
47:17and gas,
47:18but predominantly,
47:19the family build team
47:20of AJ,
47:22Gertesh,
47:23Ravi
47:23and the absent
47:24Gurpreet
47:25have done the work,
47:27with his wife,
47:28Manmeet,
47:28and their son,
47:29Viru,
47:30helping Preet
47:31with the finances
47:32and design choices.
47:34What a team effort.
47:36So is Preet
47:36happy with the way
47:38it turned out?
47:39It's come out
47:40to be a really nice house
47:41for a family
47:43to come and enjoy
47:44for a number of years
47:45because everything
47:46from wires
47:47to switches
47:48to gas
47:49to radiators
47:50to carpets,
47:51everything is brand new.
47:52It's impressive
47:53how much has changed
47:54from the sorry-looking
47:55fire-damaged house
47:56to this modern-light home.
47:58But having done
47:59many property refurbs,
48:01did this one throw up
48:02any particular challenges?
48:04The other major challenge
48:06was the other projects
48:08that we have going on.
48:09This property
48:10didn't throw up
48:11any surprises,
48:11but one of the other projects
48:13that we're working on
48:14that threw up
48:14a massive surprise
48:15which ended up
48:16having an impact
48:18on this one.
48:19And that impact
48:20was on the timescale.
48:21With the team's attention
48:23focused elsewhere,
48:24it meant it went
48:25from a three- to four-month project
48:28to a five-month one.
48:30But did that have an impact
48:31on their £35,000 budget?
48:34So we are really
48:37sort of 32,
48:39there or thereabouts,
48:41maybe grand up or down.
48:43£32,000 is pretty good,
48:46but along with the
48:47£81,000 purchase price,
48:49they are in this
48:50for £113,000.
48:52So, money well spent,
48:54what does the property expert
48:55that saw it last time think?
48:57I think the owners
48:58have done a great job,
48:59obviously full renovation
49:00throughout,
49:01bringing the property
49:01up to a high modern standard,
49:04and I think this would be
49:04a great property
49:05to either sell on
49:06or move a tenant into.
49:10Good standard,
49:11very modern,
49:13definitely ties in
49:13with what, you know,
49:15people are looking for nowadays,
49:17so I think overall
49:18the property's good
49:19from top to bottom.
49:20The house has been restored
49:22to off-the-shelf,
49:23ready-to-go condition,
49:25specifically for the rental market.
49:27But as an asset,
49:28how much could
49:29Manmeet and Preet's
49:30£113,000 investment
49:32be worth?
49:34In my opinion,
49:35I think this property
49:36would sell for,
49:36in the region,
49:37of £130,000.
49:40So, there could be
49:41a potential tidy sum
49:43of around £17,000
49:45pre-tax profit
49:46up for grabs,
49:47if they decide
49:48to sell the house
49:49at a later date.
49:50But for now,
49:51it's all about
49:52its rental potential.
49:54In my opinion,
49:55I believe this property
49:56would rent for
49:57£850 per calendar month.
50:00Yeah?
50:01Well, that's really good.
50:02Yeah, that's really good.
50:03That's more than
50:03what we were expecting,
50:05actually.
50:05More than what we were expecting,
50:05or what we're charging
50:06the new tenants, anyway.
50:07Yeah.
50:08Yeah, that's quite good.
50:10In fact,
50:11Preet and Manmeet
50:12have a tenant
50:12already lined up,
50:14and they will pay
50:15the slightly lower figure
50:16of £795 per calendar month,
50:19which will see the house
50:20generating a rental yield
50:22of over 8%,
50:22making this another nice addition
50:25to their property portfolio.
50:27So, are they planning
50:29more property refurbs
50:30in the future?
50:34Most definitely, yes.
50:35Yes, yeah, we do, yeah.
50:36So...
50:37This is something
50:37that we want to keep going
50:38as long-term,
50:40something that we want
50:40to get our kids involved in as well.
50:42Yeah.
50:43So, yeah.
50:49We're going back
50:50to Blackley
50:51in North Manchester,
50:52where Dion had a look
50:54at this three-bed semi
50:55that was guided
50:56at £90,000.
50:59The wall coverings
51:00weren't ideal
51:01in the living room
51:02or in the kitchen
51:03next door.
51:06We've got panels here.
51:09You've got three walls
51:10that are full
51:11of this false panel.
51:13You're going to have to
51:13take all this off,
51:14put your own stamp on it.
51:16And it was Arta
51:17who was going
51:17to do just that.
51:19Having been on the show
51:20nearly a decade ago,
51:21he had plenty of experience
51:23as a property developer
51:24and paid £149,000
51:27for the place.
51:28Do you know
51:29what's going on
51:29behind those panels yet?
51:31No, I just got the key
51:32yesterday evening,
51:33so I don't know yet,
51:35to be honest,
51:36but I got my builder
51:38and I hope
51:40no ghost
51:40or something similar.
51:43Ghosts in the walls,
51:45that's a new one.
51:46Haunted.
51:50This isn't what I want.
51:53But Arta wasn't
51:55calling in
51:56the Ghostbusters
51:57quite yet.
51:58Instead,
51:59his builder Robert
52:00would try and turn
52:01this house,
52:02haunted by layers
52:03of wallpaper,
52:04into a modern home
52:05within two months
52:06and with a budget
52:07of £25,000.
52:10Eight weeks later,
52:11we're back
52:11and the house
52:12has been freshly
52:13painted outside,
52:15but has Arta
52:16managed to exercise
52:17those demon wall
52:18coverings inside?
52:21Yes,
52:22it would seem
52:23Arta and his builder
52:24Robert ain't afraid
52:25of no ghost
52:26or, more seriously,
52:28layers of wallpaper.
52:34Which can be
52:35terrifyingly tricky
52:36to remove?
52:37Arta is joined
52:38by his friend
52:39and builder Robert
52:40to tell us
52:41about the work
52:41they carried out.
52:43We're trying
52:43to save
52:44all papers here,
52:46but Robert said
52:47that is
52:48no good condition
52:49and we decided
52:51to repraster
52:53all the house,
52:54actually.
52:55Only two rooms
52:56left with
52:58wallpapers.
52:59We take
52:59wallpapers off
53:00and fill in that.
53:01We break up
53:02as well
53:02one of the window
53:03on the kitchen
53:05would give us
53:06space to wall
53:07unit.
53:13obviously there is
53:14a new kitchen,
53:16a new bathroom
53:17as we promised,
53:19upstairs new carpet,
53:21also we
53:21paint the house
53:22here,
53:23so inside
53:25and outside.
53:26It wasn't planned
53:27actually on the beginning
53:28because of the budget,
53:29but yeah,
53:30we did it.
53:30The budget also
53:32meant the rejig
53:33of the layout
53:34up here
53:34to make a bigger
53:35bathroom
53:36wasn't carried out,
53:37but it has been
53:39a comprehensive
53:40overhaul.
53:41There's a modern
53:41energy efficient
53:42central heating system
53:45and it's had
53:46a full rewire
53:47with more sockets
53:49added in each room.
53:57But it's nice
53:58to see the old
53:59fireplace
54:00have survived
54:01and have been
54:02painted
54:02to match
54:03the house's
54:04neutral colour scheme.
54:09But the age
54:10of the building
54:11did cause an issue.
54:17We had
54:18one surprise.
54:21It was
54:21a leaking
54:22small roof
54:24above the window,
54:27but Robert
54:28fixed it.
54:29What we do
54:30is we check
54:31the old concrete
54:34is not
54:35anymore
54:36stick to the wall.
54:37We replace that one
54:38and we repair that one.
54:40Yeah,
54:40beside this,
54:41all goals are
54:42the plan.
54:44Arta has gained
54:45a lot of experience
54:45over the years
54:46developing property
54:47and he's trusted
54:49and he's trusted Robert
54:49and his network of trays
54:51to help complete
54:52all the work here.
54:54But have they been able
54:56to bring it in on budget?
54:57Our original budget was 25,000 pounds.
55:03Due to new plastering, painting the house outside and a few additional works, our budget increased
55:17is to almost 30,000 pounds.
55:20So, but I think it's still not bad.
55:25That brings Arta's total costs, including purchase price, to 179,000.
55:32So, has it been money well spent?
55:36We asked the expert from the auction house that sold the property to come back and see the changes
55:41and find out his valuations
55:43and our work is complete.
55:48I've come back and wow, what a transformation.
55:51Yeah, kitchen's superb.
55:53A lot of the old pipes and the cupboards and the mess that was here
55:57has all been disappeared
55:58and we've got something that's really quite cool.
56:02Yeah, bathroom upstairs redone, the flooring,
56:05it's really nice and cosy,
56:06a proper, proper family home.
56:09The expert is chuffed with the changes
56:12and although Arta isn't selling the house,
56:15it would be good to know if his 179,000 has been investing wisely.
56:20If you were to market this property for sale,
56:23you're looking at around 200,000 pounds.
56:25I'm thinking that it's worth minimum 210,000
56:30and, but it's okay because it's a long time project.
56:35Yes, the main thing is that Arta hasn't spent more than the house is worth
56:41and if he had to sell it now,
56:44the figure he values it at would give him a £31,000 profit
56:48before taxes and fees.
56:51But the rental figure is the real key to success here.
56:55On the rental market, I would expect this property
56:57to achieve a minimum of £1,200 per calendar month.
57:01The rental price in this era for free bedroom house is around £1,300
57:07and we made a small discount for our tenants
57:10and the house will be rented for £1,250 per month.
57:16Arta's agreement with the new tenant
57:18means that this will generate an income of £15,000 per year,
57:23bringing in a yield of over 8%.
57:25It has been another successful project for Arta and Robert.
57:31Everything's going quite smooth.
57:34It's not that many, some price.
57:36As you can see, house is ready for rent
57:39and when we finish the filming,
57:43the new tenants waiting to sign a contract.
57:50Well, another property or two or three renovated
57:55and what stories they had to tell.
57:57We'll have plenty more for you next time
57:59here on Homes Under the Hammer.
58:01We'll see you then. Goodbye.
58:06We'll see you then.
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