Homes.Under.the.Hammer.S29E05

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Transcript

00:00Hello and welcome to the show now today's show is gonna be a little bit different as you can see

00:05we've got boy band royalty

00:07What don't conform blue? I'm a little bit excited today

00:09I've had my blonde bits put in especially for you Dion

00:12Listen, we're gonna have a wander around here. We've got a property to look at. Yeah, and I'm hoping that

00:16it's gonna

00:17Make you want to give it a go and we'll be looking back in the archive at some of our

00:22older properties as well

00:23Well, I can't wait because I think our time today hopefully won't fly by too quickly Dion

00:29Yeah, well if you want to see what we've got in store for you today keep watching today's homes under

00:35the hammer

01:01you

01:02You can often find a hidden property gem at auction

01:04It could be a home that is in need of a complete overhaul or maybe it just needs a little

01:08bit of one love

01:09Oh my gosh, can't believe it. Anyway, I do believe that a lot of these properties need a bit of

01:14time spent on them a bit of money

01:15A bit of determination, but you know what the satisfaction comes when you watch it all unfold

01:20There's something really special about turning potential into reality, so stay tuned and see what's on today's show

01:29Coming up Duncan and I find a compromise in West London

01:33It works both ways. We're both right

01:39Jackie discovers a red flag in knowledge I can see signs of serious moles, but maybe there's been some sort

01:47of water ingress

01:49And from the archives we go back a decade to a Leicestershire property in need of more space

01:55I'd be inclined to knock it out. Give yourself a bit of an extension

02:00All these properties have been sold at auction

02:02We'll find out who bought them and what they paid for them when they went under the hammer

02:07Well done, so

02:11I say blue, you say what?

02:14Blue, red, blue, red

02:16Now not every postcode gets its own rom-com

02:20Welcome to London's Notting Hill

02:23Famous for its festival colorful streets and a touch of celebrity sparkle. Thank you

02:29It's here. We will find our first auction lot and it's familiar territory for Duncan

02:37So what was it then that made you want to come on on our show listen I love a bit

02:43of homes under the hammer

02:44It's a guilty pleasure of mine and who doesn't love a bit of the deal?

02:47Don't be guilty don't be guilty

02:49It's not a bad show

02:50It's a great show and yeah, I'm just I was really excited to be here today. So thank you for

02:54having me on

02:55Yeah, it's a pleasure. It's a pleasure

02:56This isn't your manner, but I know that you know it quite well

02:58Tell us about it. What do you know about this area?

03:00So it was one of the first areas I moved to when I came to London

03:03I'm from Dorset and when I got on the band blue and I had a bit of money

03:07I thought I want to buy a house or buy an apartment and I bought somewhere right round the corner

03:12from here actually

03:12So this is my old stomping grounds. Well, I've got one for you to look at today

03:16I'll tell you about it when we get a little bit closer. Okay, but you're gonna be surprised. Yeah surprise.

03:21Come on. Okay, let's go

03:28One thing that may not come as a surprise is the property we are going to see like many in

03:34the royal borough of Kensington and Chelsea

03:36Sits in a conservation area limiting any exterior changes

03:41But with Notting Hill homes averaging over 1 million pounds. There's plenty to get excited about

03:50Okay, let's get down to some facts and figures by the way, it's a lovely street isn't it?

03:54I love the terrace. There's so much character. Yeah, it's lovely nice tree line street

03:57Well, this is where our property is right now. We've got a one bed ground floor flat here. It is

04:03Yeah, it went to auction with a guide price of

04:07165,000 pounds. It's not bad is it? I mean here it is here. What's your first impressions?

04:12Nice sash window needs a bit of work. Yeah, best thing I love though the color of that door. It's

04:16a great color

04:17Oh, no blue. He's only gone there, I mean early on as well

04:20I'm talking about Notting Hill the movie. It was a blue door. I'll bet you are. Come on. Let's have

04:24a look. All right, mate

04:27As is common in London, this is a leasehold property

04:32Luckily, there's a new

04:34125 year lease

04:36But if major alterations are needed they might need the freeholders approval. So let's hope inside is in good shape

04:46Here we are mate. Here we are. Oh, wow. Okay

04:50Small, isn't she? It is. It is. What's that behind you there? What was that?

04:54That must be the bathroom. Okay, so bathroom there. Yeah

04:58Now it's nice high ceilings to be fair. Yeah, but that that 90s like thing's got to go straight

05:03There's no period features you'd expect. There isn't yeah a bit of coving maybe

05:08Ceiling rows maybe would be nice. Those those pipes need boxing in. Yeah, absolutely. Well, we've got to send you

05:14anything

05:14At least you've got a nice radio. Yeah, which is good and

05:18The sash windows that you mentioned on the outside. Yeah single glazed

05:23Noisy noisy, so they have to be changed possibly to keep the same sash style. Yeah, but in the double

05:30glazed

05:30But they have the Notting Hill carnaval here, don't they? So every August you're gonna need that double glazing

05:35It's you to think about the music element. I do like that. I do like that. I'm not a bad

05:40-sized kitchen

05:41Okay, it's yeah, it needs ripping out and starting again, doesn't it? So yeah

05:47Handyman yourself. Do you get involved? I do. Do you know what?

05:49I get really excited about things like ripping out a kitchen doing a bit of gardening. I'm getting old mate

05:56So yeah, I look at it. I'm looking at things now. I'm thinking oh, I'll do this with this do

05:59that with that

06:00But yeah, by the way, I live up in Liverpool. Okay, just about to sort out my own house as

06:04well

06:04Could do better help with a new kitchen bit of painting. Yeah mate. Is that right? I'm your man. Let's

06:09go

06:13Maybe Duncan can turn his design flair to the bathroom too

06:18It's got the basics but in the desirable postcode like this upgrading it could make it sing and potentially bring

06:25better returns

06:28Elsewhere the flat space is tight and although the auction catalogue calls it a one bed i'm not too sure

06:37So at the moment yeah, we've got a bit of a bit of a studio

06:42What if you put that the kitchen and you bought the kitchen into here and you have this is like

06:46a kitchen

06:47Living rooms area and you have that as the bedroom. Yes, that becomes a one bed a one bed

06:53This is what this was that's very very good and that does

06:57However, if it were mine i'd want to keep it as a kitchen just for the smells get those smells

07:01outside

07:02Yeah, yeah, it would work listen a lot of places nowadays do put the kitchen and the front room together

07:08Yeah, they do you know you are cooking where you're sitting aren't you

07:11Yeah, I suppose it can be a little bit of a social thing as well because everybody's trying to create

07:14kitchen diners aren't they?

07:16Yeah, yeah, so I suppose that you know it works both ways we're both right

07:24Sometimes it's easier to settle but in this case we've called in a local estate agent to weigh in on

07:31this disagreement

07:36What do they make of this lot's potential and what would they do with this flat that was guided at

07:41165 000 pounds

07:47It's a very spacious studio not many studios have a big separate kitchen

07:52So I think here there's a lot of potential to convert into a one bedroom to then increase its value

07:58It's a raised ground floor flat. It's got lovely high ceilings. The road is quite confidential

08:03So it does have all the features

08:05That buyers and tenants to look for

08:08The agent also notes that buyers and tenants in this area expect a high standard of finish

08:15But which route works better in terms of investment keeping it as a studio or converting it into a one

08:22bed flat

08:23First let's look at the potential returns as it is now

08:27Kept as a studio this property should rent for around 1700 up to 1800 pounds a month

08:32And I think it will sell for around 350 000 pounds up to 370 000 pounds

08:39And what sort of figures could a buyer expect if they were able to convert into a one bed flat

08:45both on the rental and sales market

08:48As a renovated one version property this should be marketed at 450 000 pounds and sold for around 425 to

08:56430 000 pounds

08:57I believe this property should rent for around 1800 to 2000 pounds a month

09:02All right, thank you, sir. Thank you very much

09:06Sun's out sun's out mate. Yeah songs are out. Um, so tell me this is your first property here homes

09:12under the hammer

09:13I'm pretty sure there'll be loads more because you've been pretty good today

09:15Anyway, what were your thoughts?

09:17Do you know what it's a small property?

09:19But I think it's got a really great investment opportunity rent it out for some decent money wouldn't take too

09:25long would it?

09:25No, and it's a lovely area big question is did they all lies in the auction room? Sorry, so I

09:30just had to get it out

09:32Good one deal

09:34There's so many more by the way. I'm sure there is so many more. What do you think the auction

09:38room is like?

09:40Um, well, let's find out. Let's find out who bought it how much they paid for it when it went

09:44under the hammer

09:47This lot was part of a remote auction with bids taking place online the third and final time all done

09:53sold internet

09:58With a winning bid of 320 000 pounds it was bought by luring an experienced property developer we've met on

10:06the show before

10:09Last time he converted a grand victorian home into three luxurious flats in nearby clapham

10:19Duncan and I met him to hear what his plans were for this place

10:22Make it up

10:24It's like a mistake

10:26This curiosity kills me every time

10:31Nice to meet you

10:32Nice to meet you

10:33My partner for today Duncan from blue

10:35Amazing

10:35Nice to meet you

10:36Yeah

10:36You've been on the show before

10:38Yeah, couple of times

10:39Couple of times

10:40Yeah

10:41But you're obviously still enjoying your property developing

10:43Oh, I love it

10:44Yeah

10:45Journey

10:45Yeah, it is

10:46Yeah

10:46Tell us what about this one that you liked

10:48Well, I actually didn't see it in person

10:52Yeah

10:52It was my colleague

10:53But then I was like

10:54Oh

10:55Do we

10:56Can we actually convert it into a one bed?

10:59I think that would be a good idea

11:00So that's what you want to do

11:02You want to convert it

11:03Yeah

11:03So we are converting it back to a one bedroom flat

11:06Yes

11:06All right

11:07That was his idea by the way

11:09Fair enough

11:09No, yeah

11:10So you said

11:11You got the potential

11:12Yeah

11:12Let me tell you

11:13Yeah

11:14Well, I see

11:14So you're going to make that into the bedroom

11:16Yeah

11:16The kitchen into the bedroom

11:17And you're going to turn this into like a living room kitchen space

11:19Yeah, kitchen space

11:20Yeah, yeah

11:21Okay

11:21Oh, is this staying here?

11:23This is what will stay

11:24Yeah

11:25Okay

11:25It has to stay

11:25Yeah

11:26Okay

11:26Because we still

11:27We will close up this one

11:29But behind you

11:30That will be the door

11:31Going into this space

11:33Oh, okay

11:33Yeah

11:34I like that

11:35So that's going to be boarded

11:36Yeah

11:36And then it's going to be here

11:37That's the door

11:38Yeah

11:38To the bedroom

11:39Very clever

11:40Easily done

11:40Well done

11:41The main reason is because

11:43I hear we need a big wardrobe

11:45Okay

11:45Yeah

11:46So you have a storage space

11:47Yeah

11:48And it's good to have the wall space as well

11:50Because if you've got lots of wall space

11:51You can use that wall space

11:52That's correct

11:53Yeah

11:53Good on you

11:54What are you going to do to the bathroom area?

11:56All right

11:56So we will change everything to like a new finish

11:58To like a little bit like more

12:00Premier and like tiling it up

12:02But like the layout will stay as how it is

12:05So are you going to keep it with a bath

12:06Or are you going to just have it as a shower?

12:08Okay

12:08At first we thought about keeping it at the bath

12:11Because it gave lots of flexibility

12:14However after feedback

12:15We think about me being chained to a shower room

12:17Just a shower room

12:18Yeah

12:18I love a bath

12:19What do you think?

12:19I don't want a bath to be free

12:20Exactly

12:21I like a bath

12:22I like a soak

12:22It's like you lose the opportunity to take a nice bath

12:26Like yeah

12:27So

12:28So I said to Dion

12:29I love the sash window

12:30Any design plans for that?

12:32Are you going to keep it as it is?

12:33Are you going to make it double glazing?

12:35Well the design is going to be the same

12:36But like we're going to make it double glazed

12:38Because that will improve the EPC reading

12:41Which is very important for the buyers

12:43Explain to me what is EPC?

12:45Yeah it's the energy performance certificate

12:47It just helps with the efficiency of the house

12:49And the energy of the house

12:51The energy rating

12:51Yeah exactly it makes it more attractive as well

12:53To be honest with you

12:54And I think it's a great idea to do it

12:55We are in a conservation area as well

12:56So you have to keep the windows in a certain way

13:00So they're in keeping with their surroundings as well

13:02So it's a great idea to do that

13:04What kind of finish

13:05You know when we come through this door here

13:07Yeah

13:08What are we going to see?

13:09What are we going to see?

13:10Okay so normally we don't make this much of a colourful flat

13:16Okay

13:16But this one got to be quirky

13:18It's going to be quirky

13:19Yeah

13:20And why is that because of the area or?

13:22Yes

13:22Because of the area

13:23You see like we will try to be funky

13:25Yeah in this part of the town

13:27Yeah

13:34Luin has plenty of experience to make this place shine

13:39Alongside property he runs a design studio creating bespoke interiors and handmade furniture

13:45That he'll dress the flat with

13:47The walls will stay neutral for buyers but everything else will get a hint of funk

13:53Bold shapes bright colours and a kitchen that can cook up style as well as dinner

14:00With a 50 grand budget the plan is to flip the flat in two months and get the finish to

14:05live up to its location

14:07Yeah

14:08Are you going to try and instill maybe some of the old sort of period features any coving any ceiling

14:13Well we will expect for this one because it can't be just overly funky we still want to be like

14:20the same as like you see it's a victorian house you want some victorian feature inside

14:26I've got a feeling you're going to do a very good job

14:28Yes

14:28Yeah

14:28I've got a feeling

14:29I think you will as well

14:30So Luin do you get involved with the construction part or leave that to professionals?

14:35I come to the side the chairs

14:39The same time also like I try to check what the quality is let's say yeah

14:44Oh like because we designed the whole house

14:47So you crack the whip make sure everyone's doing their job correctly

14:49Yeah

14:50He's the boss

14:51He is isn't he

14:52I like that I like that

14:53Listen good luck

14:54Yeah

14:55We wish you all the best

14:56Oh thank you very much

14:57Take care

14:57Congratulations

14:57Thank you and thanks for coming

14:59Thank you

15:00Good luck

15:01Well he seems to know what he's doing isn't he

15:03Yeah he's good

15:03He's good

15:04Great ideas

15:06And I hate to say it but you were right

15:09Thank you

15:09Yep

15:09Bedroom right here

15:10I knew it

15:11I had a feeling he was going to turn this into the bedroom

15:12Yeah

15:13It wouldn't be my choice but I think he's going to work for the market he's looking for as well

15:19So okay go on I'll let you say it

15:22Well I'm really excited to see what he's going to do

15:24So if you want to see what happens keep watching and we'll find out the later on in the show

15:34We are off to a city I know well the lively city of Norwich

15:40It's full of enduring architecture for example it's railway station

15:47Completed in 1844 it's now a grade two listed building

15:53But for now let's get back on track with Jackie who's here to see our next auction

15:58Well I'm just three miles from Norwich city centre on this rather quiet and pleasant residential road

16:08Now the property I'm here to see is a four bed detached bungalow that went to auction for a guide

16:13price of 200 to 225,000 pounds

16:16And here it is

16:20It does sit on a sizeable plot and actually you do get a rather large detached garage with it and

16:27off-road parking

16:28But there's even more because this property also comes with a plot of land to the side

16:36We'll have a look at that in more detail later, but let's get inside

16:43Nice solid door very good

16:47And actually a nice solid start inside

16:50This is bedroom number one

16:52It's not the largest of double rooms, but you can easily fit a double bed in there and storage

16:57Have a look at the electrics. It looks a bit dated the lighting there

17:01And then bedroom number two which is the largest actually

17:05You've got a bank of sort of sliding doors for the wardrobe, but I can see signs of serious mold

17:12It could just be condensation where there's no ventilation or maybe there's been some sort of water ingress

17:18Get that checked out

17:19And then into bedroom number three the blue room and straight away

17:24I can see it's sort of like a hairline crack going down one side of the room, but this

17:29Crack is the one that's a little bit more serious

17:34And so you've got lots of different variations on the cracks there, but this one is really wide and

17:40I can actually feel

17:42A breeze that is not good. That means this is not just a surface crack. This is going all the

17:48way through

17:49You need to get that checked out further cracks are revealed to the side here of the radiator underneath the

17:55windows as well

17:56But it's that view. It's not great. Is it you're just looking at the neighbor's fence

18:01Or be a very nice fence, but what I would probably do is put a mural there a beach scene

18:09woodland scene

18:11Vineyards that might be quite nice, and they'll never know will they be ugly

18:21The neighbor might not get to enjoy the artwork, but if it's their fence you will need to ask permission

18:28before you start painting

18:30For the cracks, it's a structural engineer you'll need to call so they can diagnose the cause

18:37By comparison the rest of the property is light work the garden needs to trim the lounge needs to be

18:44modernized

18:44The fourth bedroom needs to be decorated and the wet room could just about fit a bath

18:52The kitchen's a generous size, but those dated units could use a spruce up

18:59What's more promising however is the plot of land outside

19:05Well, I saved the best till last so

19:10Your bungalow comes with this plot of land

19:15And it's big enough if you could get planning to actually build a separate detached

19:22Two-bed bungalow and you could also create a driveway there as well

19:26So there are options would it be worth it?

19:29What do they use the house for what are they going to use the land for?

19:33But it's always good as ever to have options

19:38It certainly is although with no planning permission in place to build on the land

19:43Speaking to a local council would be a good first step to get a feel for what is possible here

19:51But what are the thoughts of a property expert?

19:54We invited along one from the auction house who sold it for his thoughts and valuations on this bungalow guided

20:00at 200 to 225,000 pounds

20:04Here we've got a four-bedroom house

20:08Some of the bedrooms to me a little bit small two of them in particular

20:12So I'd almost be tempted to lose one of them and increase the size of the lounge diner

20:18But it's a decent size for a four bed and I think there's a great potential with this one

20:24If it were renovated what could it achieve on the sales market?

20:33Refurbished done to a good condition kept as a four bed

20:36I think you could be looking somewhere around 400 to 450,000 pounds

20:42And what about the rental?

20:46From a rental point of view in my research there's not too many four beds in this area that would

20:53rent out

20:53But I think if it did you'd be around

20:571,400 pounds per calendar month

21:01And finally if you built a separate dwelling on the extra plot of land what could that be worth?

21:09I think that if the buyer got let's say planning permission for a two-bed bungalow

21:14If they were then to build it and resell I think you're going to be somewhere in that 250,000

21:21to 275,000 pounds

21:24Well this bungalow needs the full cosmetic works

21:28You also have to sort out the damp issue but also get the cracks issue sorted out as well

21:36But you could also think about your investment going further by creating a separate dwelling on that side plot of

21:43land

21:44So there are plenty of possibilities here

21:46Who agreed? Let's find out when it went under the hammer

21:52This lot was part of a remote auction with bids taking place online selling away then congratulations

22:02It was snapped up by property developer shane for 253 and a half thousand pounds

22:10Shane's renovated many properties before and jackie made him to catch up and find out his plans for this one

22:20Shane wonderful to meet you and you and can I say I love this bungalow

22:25It has a lot of potential for me and it feels really solid underfoot

22:29Let's talk about the auction did you visit the property before the auction?

22:34I did yes and did you think that is a must for me good good and what did you think

22:39when you walked in?

22:40I've seen a lot worse and I've done a lot worse

22:44It's just superficial yeah, there's some quite large cracks and you can actually feel breeze coming through

22:51Are you worried about that? You got someone to look at that?

22:54I've come across that several times in the past

22:57I will be getting a structural engineer involved

23:00Purely just once it's signed off everybody's happy

23:03Yeah, exactly

23:05And so when you came and visited and you saw the plot at the side

23:10What were your first thoughts about that?

23:13I've built houses not far from here in Tackleston just outside of Norwich

23:17That would fit on there the footprint of the house would fit on there and still allow a piece of

23:21garden

23:22Yeah, a two-bed or one-bed or what?

23:24Two-bed

23:25I probably won't build it though. I have done new builds in the past, but I'll probably sell it

23:30Very good. Let's come back into the house

23:33Now itself. What's your thoughts? What are you going to do to the place?

23:37Are you going to change the layout, increase the size?

23:40I'm not going to change the layout

23:42The only thing that I will add to it is an ensuite to the master bedroom

23:46Which will make that slightly tighter than it is now, but it's it's a fairly good size

23:51The kitchen, I'll be moving the boiler into the loft just to allow more cupboard space

23:55Okay

23:57Kitchen's a good size though

23:58It is a good size, yeah

23:59It seems a shame that there isn't a breakfast bar in there

24:02Yeah, I know, but I think there's a there's a space for a dining table by the window

24:05There is, but again, I've measured it up and you can get a breakfast bar and a table in there

24:09with the right configuration

24:10So there you go

24:12In the bathroom, it's not really bathroom. It's a wet room

24:15Are you going to try and squeeze a bath in there with a shower above?

24:18Yeah, it'll be more more like a traditional bathroom than a than a wet room

24:21Yes, yeah, which is great

24:23And then you have the ensuite anyway for the yeah for the master room

24:26And then things like the electrics because the electrics, you know, you look a bit dated

24:32Who does that is that something I have a company that come in and do that?

24:35Oh, right, okay

24:36Yeah, and the plumbing as well

24:38Right, so is this what you do full-time Shane?

24:41Yeah

24:41Is it?

24:42Yeah

24:43Well, then there you go. That's why you're cool and like yeah, that's not a problem. Yeah

24:48So what's the plan for this place? Are you going to rent it or sell it?

24:51Sell it

24:51What are you going to spend on this? I'm hoping 60 is the maximum

24:56Do you know what? That's quite generous because you're not doing any extensions or anything like that

24:59No

25:00And then what about timescale? How soon do you want this on the market ready to be sold?

25:04I'm hoping for 12 weeks

25:06You don't know till you get started really

25:08Yeah

25:09It could end up being 14, 16, but 12 is about right

25:12Perfect

25:13Well, look, it's definitely

25:15Falling into the right hands with you, Shane

25:18That's what I feel

25:19Um, and I wish you the very very best of luck with this. I really do

25:23Thank you very much. Thank you

25:27Well, Shane is an experienced property developer

25:30And he doesn't seem fazed by any of the works that's about to take place here

25:34He's got his team of trusted trades and he has a plan

25:38The plan for the bungalow is to fully modernize it

25:41The plan for the plot of land is to sell it on

25:45Very, very savvy

25:47How will it all go? You can find out later in the show

25:52Still to come from the archives a leicestershire property full of promise

25:57It's beautiful on the outside, but is it beautiful on the inside? Let's have a look

26:04And we return to norwich to see what shame was able to do with this cracking bungalow

26:15Back to notting hill in london where I was joined by blues duncan

26:20And he didn't waste any time sharing his thoughts on a one bed lease old flat guided at one hundred

26:26and sixty five thousand pounds

26:28Best thing I love the color of that door. It's a great color

26:32He's only gone there

26:33Come on

26:35Let's have a look

26:35It wasn't just puns duncan had his eye on he had a layout idea too

26:41At the moment we've got a bit of a bit of a studio

26:46What if you put the kitchen into here and you have that as the bedroom?

26:49Yes, that becomes a one bed

26:51This is what this was advertised at

26:52That's very, very good

26:54Although I like my kitchen separate

26:56I was outnumbered because the new owner luring planned to do just that

27:00He had been on the show before and then bought the flat for three hundred and twenty thousand pounds

27:06When we come through this door here. Yeah, what are we gonna see?

27:10Okay, so this one got to be quirky. It's gonna be quirky. Yeah, and what why is that because of

27:15the area?

27:15Yes, because of the area you see like we will try to be funky again. Yeah in this part of

27:20the town. Yeah

27:22How was that? I know you just come along

27:27As an experienced developer and designer

27:30Lou in plan to move the kitchen into the living space and give the flat a high-end finish

27:36He aim to have it sell on ready in two months and for fifty thousand pounds nearly three months on

27:42we are back

27:48And while it's not quite finished new in is very much on the home street

27:52We have separated the kitchen living room away from the bedroom

27:58So in this way now we have a one bed flat

28:03And now it's only just a final bit of decoration and some fabric designs

28:08After getting approval from the leaseholder the kitchens become a bedroom with its own access off the hall

28:15And the extra wall space has allowed for some sleek built-in storage

28:20What used to be a bedroom and living area is now an attractive kitchen living space a layout

28:26Lewin thinks buyers prefer and it's been finished to the same high standard

28:31We've seen him achieve before one that fits perfectly with the desirable area

28:38We have built this l-shaped kitchen next to the gym breast on the other side we'll put the fridge

28:44So in this way one side of the corner become like a dining and cooking area

28:49But then on the other side we'll put the sofa the dining table a space to create your friend your

28:56guests the bosses

28:57So you enjoy your time before your bed

29:01The finishing touches are still to come with furniture from Lewin's own design company set to bring color and character

29:08But the bathrooms already making a statement with green marble tiles and modern walking shower replacing the bath

29:17It has a low ceiling

29:19So once you stand into the bath and try to take a shower you'll be burned your head and the

29:26shower like this

29:27I don't think that's very pleasant yet

29:29Now I think they have a bigger space for any functions

29:34There will be plenty of premium touches two wall mounted taps a concealed shower mixer a marble worktop in the

29:43kitchen and new timber flooring

29:46Upgrading the windows insulation and boiler should also boost the flats energy rating

29:52The work's been handled by Lewin's trusted team of contractors with him overseeing the project

29:59Our development role is to make sure the time the quality the cost are all good as how we planned

30:07And on the other side we're also acting as the principal designer

30:12So we'll design all the finishes that we want to put into the project including the layout

30:20He expects to be finished within three weeks and ready to hit the market only a few weeks later than

30:26planned

30:28So we planned for eight weeks program but now it's taking 10 to 12 weeks

30:33The main reason it was difficult for us to move the gas meter and gas pipe from the original kitchen

30:41Apart from that everything was on the good track

30:46Hopefully things were as positive when it came to his budget of 50 grand

30:51We'll spend just five to ten k less from the original budget

30:59So i'm happy with both the program and also the expenditure

31:06The work has cost Lewin around 40 000 pounds hopefully that turns out to be money well spent

31:13We invited back the estate agent who saw it last time to see what he makes of the changes and

31:19find out its new valuation

31:22Having taken a look at the flat i think the refurbishment has been exceptional

31:29It was a great idea to turn it from a studio to a one bedroom apartment

31:34The layout is very functional it's perfect and the materials they've used are very high quality

31:41The agent believes on the rental market the flat could generate an income of around 2 000 pounds per calendar

31:48month

31:48But selling has always been the plan

31:51Once complete Lewin will have spent around 360 000 pounds so what could it be worth on the sales market

31:59If i had to list this property on the market i'll put on the market at around 500 000 pounds

32:04with the aim to achieve around 475 000 pounds

32:08For the advice the agent gave it sounds about right and i would hoping and happy

32:15i would be hoping to have this figure in the end and i'll be happy with the program yeah

32:23A sale at 475 000 pounds would mean a healthy pre-tax profit of 115 000 pounds so it's been

32:31a successful project for Lewin

32:33He's more used to taking on larger developments but this small and mighty flat might have just won him over

32:41in the middle of this one i took around one month holiday so

32:46when i leave from here we were still doing the structure when i came back it's almost finished

32:51so it was like this as a magic

33:06i think in the coming years i probably will do more like this

33:14We are heading into the archives now rewinding a full decade to the spring of 2015 when i think

33:21i started where i was in the village that offered the quiet live chocolate box cottages and the village green

33:26i was in tilton on the hill in leicestershire and i'd found an intriguing auction lot

33:33what a beautiful day in a really nice village on the outskirts of leicester it's this building i'm

33:39here to see a stone-built cottage with a guide price of 220 000 pounds it has three bedrooms

33:47and it's beautiful on the outside but is it beautiful on the inside let's have a look

33:55okay we've got a small porch way area and right in front you've got a shower sort of wet room

34:01there

34:01and a toilet they are a bit of a strange shape because they are on the corner how you'd reconfigure

34:07that i'm not sure and it does say to me that if there's a toilet downstairs there may not be

34:12one upstairs

34:13up a step into the kitchen which is a little tight

34:18but not too bad you'd have to start again in here you've got the old-fashioned uh cooker there

34:24stairs up to the bedrooms a little bit of storage i'm thinking to myself you need some more space

34:31i'd be inclined to knock it out give yourself a bit of an extension get that extra needed space

34:36in and around the kitchen and a bit of a family room as well let's see what else there is

34:42so as i'm coming through i can see there's a small lean-to just there looking out onto the back

34:48garden you can actually feel the heat coming in off that into the lounge living area with a real

34:55fireplace there what i expected in a village cottage a little bit of central heating as well and i can

35:01see through that window that's the road which is the front of the house so if you were looking to

35:06extend

35:07your only option would be to go into the back garden that was no bad thing as outside this cottage

35:16came with plenty of land so there was no need to compromise when it came to extending but there was

35:22one thing to consider and that was planning especially as this was a conservation area so there was likely

35:30to be some restrictions in place there was an old outbuilding attached to the house used as a garage

35:37with its existing footprint you could have made it part of the main cottage

35:44looking back there was plenty going for this place the garden was peaceful the setting was ideal

35:49and we were lucky with the weather too just look at that sunshine

35:56so upstairs we've got three bedrooms bedroom one there which is a really big bedroom actually

36:02wasn't expecting that across the hall you've got bedroom two which is quite small a long a long

36:09corridor wasted space there into bedroom three which is not only small it's a it's a strange shape as

36:17well now there's no bathroom no toilet upstairs so for me it's crying out turn this into your family

36:24bathroom up here and if you are thinking of doing that extension don't just extend the kitchen maybe

36:29extend above it as well which will give you your bedroom back so you have three bedrooms bathroom upstairs

36:35and extra living space

36:38a two-story extension could have solved a lot but that's never cheap or easy to get past planning

36:45even so the existing rooms felt quirky and space could have been used better so what did the property

36:53expert from the auction house that sold it think of this pretty three-bed cottage guided at 220 000 pounds

37:01the potty stands a good size plot so there's plenty of scope for extension however it is in the

37:05conservation area so you would have to be a little bit careful on the materials they used to extend the

37:12property and it would probably have to be in keeping with the surrounding area of local stone

37:16and possibly slate roofs there were plenty of options but what kind of return might have been

37:22possible after renovation if it was modernized i'd expect the valuation to be somewhere in the region

37:28of 325 000 however if it was extended as well to probably make a four-bedroom property

37:34um then the valuation probably would be somewhere in the region of 450 000 pounds with a 220 000

37:41pound guide price extension or not this cottage looked like it could pay its way but being an old

37:47soul in a conservation area it came with a few strings attached still for a long-term investor the

37:54question was what kind of rental return could it bring in once the property is fully modernized i'd expect

38:00the rental to be in the region of 900 pounds per calendar month if the property was extended to

38:05provide four bedrooms then i would expect that rental income to increase to around 1200 pounds per calendar

38:12month this could be a beautiful family home in some amazing surroundings but it's just a little too

38:20small inside if it were mine i'd look to extend which would give you that much needed extra space let's

38:27see

38:27you saw the potential when it went under the hammer at auction it was a competitive lot 276 shakes his

38:34head third and final time we're all done with it oh it's also well bought the winning bid came from

38:41toby on the right and his business partner paul on the left toby handled the finances for their

38:48property ventures and together they secured the cottage for 276 000 pounds paul the one with the

38:55building know-how met up with me to share their vision for this place paul nice to meet you how

39:01are and congratulations okay so tell us about the auction how was it expensive um it didn't go our

39:09way and we were hoping to bag a bargain and we had somebody who really wants it the same as

39:14us and that

39:14that's pushed us up a bit so it puts pressure on us now for the budget and the construction costs

39:19to try

39:19and keep that under control why this particular property in this area uh it's we've got a background

39:25more a new build we tried to pick up a single we're building company a single building plot

39:29couldn't find any at the moment they're all overpriced and so we've looked for a bit of a doer

39:34upper there's a new venture for you it is i mean we've done a lot of work for people in

39:38this kind

39:38of environment working for somebody it could be working for you yeah on a refurbable conversion

39:43extension whatever but this is the first time as a company we've taken on this kind of job if you're

39:48buying land do you do build on that land to rent or to sell again we can't we can't afford

39:54to rent

39:54we have to shift it on and we'll try and shift this on as quickly as we can so how

39:57are you going to

39:57change it there's going to be a subtle renovation of the original cottage the stonework needs some

40:01restoration we'll put back timber windows to get our money back because you know we've got to get

40:07the money back and we're gonna have to put a modest extension to gain some extra bedrooms and some

40:12extra accommodation space on the ground floor big living kitchen with french doors overlooking the garden

40:16and then hopefully another one stroke two bedrooms upstairs uh assuming the planning permission goes

40:21through which is always planning is always an issue and takes time puts time on your takes a lot of

40:26time

40:26it does and we've got an existing garage we don't know where to convert that into another room again

40:31budget depending that will give us a bit more space on the ground floor yeah of course possibly an

40:34oak frame garage if we can afford it but that isn't that's looking down for the moment talking of

40:39purse strings yeah what's your budget sir well we always talk xvat builders and i've done detailed

40:45cost and we're looking at something around 112 plus fat so we're looking at about 130 grand yes and

40:52that's a lot of money it's the v80 that kills us on the new build on the new build you

40:56don't pay vat

40:57yeah so the tax man will be happy on this one even a decade on the rules are still in

41:03place new houses

41:05or flats built from scratch may be eligible for zero rated vat and certain alterations made for disability

41:13adaptations can also qualify though these didn't apply to toby and paul's project here

41:20the whole building plumbing electric is replastering it's it's a complete um shell rebuild really it is

41:26isn't it complete overhaul yeah and how long is that going to take you fingers crossed uh well that

41:30depends whether it's my decision or the or the planning office decision if we were just able to crack on

41:36now we'd turn it around in five to six months but we're going to be waiting for planning permission

41:39it's a conservation area i've got the conservation officer who's going to have to sign off things

41:43like the way we're doing the stone work and the rest of the restoring of the outside of the building

41:48so that slows right down what's the best scenario would you think if you're having to wait for

41:52planning and within a year it's that much difference we could take three months trying to get planning

41:57permission so i'm gonna have to drop away and go and go and get a job so if you want

42:01anything doing

42:01i might be looking for a job as well paul might have laughed of a slow patch but in 2015

42:11the after

42:12effects of the 2008 financial crisis were still keenly felt by many we had a couple of big houses

42:19we built lovely houses nobody could get a mortgage the bank wanted the money back it's you know it's

42:24a story that's been heard a lot yeah yeah of course so this is this is us it's been a

42:27hard five years

42:28six years coming back really it is this is an important job for us toby and paul's experience

42:34showed just how quickly things can go sideways in property development even years after the financial

42:42crisis they were still facing challenges finding affordable land was tough which had pushed them

42:49into this new type of project with the cottage with so much riding on it it was no surprise they

42:55had some

42:56concerns the budget obviously is the big issue is whether we can get the specification that we

43:01need at the high end to get back what we need so it's mainly the constraints of the budget the

43:06construction doesn't bother me in the slightest i wish you're the best thank you good luck cheers

43:12paul's found himself a lovely cottage in a really nice village and i can understand why he stuck to his

43:18guns at auction but there are a few problems he has to overcome planning permission it's in a

43:24conservation area which may throw up a few problems and that budget of 130 000 pounds

43:30will it be enough you can find out later on in the program

43:39back to norwich now where jackie saw this four bed bungalow with a bonus

43:45this property also comes with a plot of land to the side

43:51this screen potential with a guide price of 200 to 225 000 pounds but cracks began to show

44:00i can actually feel a breeze that is not good

44:13but that didn't scare off experienced developer shane from snapping it up for 253 and a half thousand

44:20pounds

44:23is this what you do full-time shane yeah is it yeah well then there you go that's why you're

44:29cool and

44:29like yeah that's no problem yeah shane wanted to modernize and flip the bungalow then try to obtain

44:37planning for a new build on the plot of land before also selling it on he had a budget of

44:4260 grand

44:43and hoped the work would take 12 weeks but less than three months on we are back

44:55outside we had to um trim the trees down quite a bit in the side garden the driveway the same

45:01that was a bit of a mess and so that was all scraped back replaced and then basically tidied

45:07everything up re-rendered it where it needed it painted it its curb appeal has improved dramatically

45:14even the garage has seen an exterior upgrade and the transformation continues on the inside

45:25first job is always just to come in and strip everything out and then basically the entire

45:29house was plastered partially rewired where it needed it redecorated all the bedrooms have seen

45:37a vast improvement particularly the rear main bedroom where the built-in storage has become

45:44a compact ensuite the areas of damp retreated coated in sealant and re-plastered but that was nothing

45:53compared to the blue bedroom

45:58we had some cracks that we had a structural engineer look at so that was that was a priority to

46:05to get

46:05looked at he did a report and recommended work which we followed to a tee

46:11shane and his team repaired the cracks using a method called stitching reinforcing the brick work

46:18with metal rods to prevent further movement the old wet room has been converted into a bathroom

46:26with a clean look that can be seen throughout the house including in the living room

46:34so i try and go for sort of sort of modern and timeless uh neutral colors gives people a blank

46:40canvas

46:40so they can put their own standpoint if they want to it's it's nice to take something that's that's

46:46old and worn and give it a new lease of life ready for its new owners to move in

46:50life wants me to breathe in its love

46:58desperate for that new lease of life was the kitchen which has been completely overhauled with new units

47:05stylish handleless doors and more than enough space for that breakfast bar and with the boiler moved to

47:13the loft there's even more storage in this large kitchen but shane did toy with the idea of taking

47:20the renovation one step further we did consider um taking a wall out between the kitchen and the lounge

47:27to maybe make that you know one bigger area but um with it not being completely parallel it didn't

47:34it didn't really work it wouldn't have worked particularly well if we'd have opened it up so we

47:37left out as it was the difference in level can be seen from the back garden which has been trimmed

47:46down and the patio only done staying outdoors the plot of land at the side is still a work in

47:53progress

47:53so we've got a planning application in for a small two-bedroom bungalow i have done new builds i've

48:00done several new builds in the past but i think um i'll just sell it on to someone else to

48:04deal with

48:05if shane secures planning for the new build this plot could see a healthy boost in value

48:11but with most of his time and budget tied up in renovating the bungalow has he managed to stick

48:17to the original budget of 60 grand still waiting for a few bills to come in but it's looking to

48:23be

48:24about 50 to 55 which i'm pleased with to be honest with you that also includes around 1600 pounds in

48:31fees

48:31linked to planning for the plot of land but when it came to the bungalow the work was finished quicker

48:37than the planned 12 weeks i think it's about nine um and we have had a few days off here

48:44and there

48:45mainly due to weather you know when we were working on the outside and we couldn't get on the inside

48:49because other trades were in um but no it's gone really well coming in below budget and well within

48:56his time scale is something shane should be proud of as well as creating a sleek stylish home

49:05but after spending a total of 308 and a half thousand pounds including the purchase price

49:11has this been money well spent we asked back the property expert who viewed it last time

49:17for his thoughts and valuations now the work is complete

49:21back again just nine weeks after we were here to look at the property just after auction wow what

49:29a change they've really done some work on this haven't they i like the flooring that's gone in

49:34i'm not a huge fan of gray carpet it's very popular at the moment but the flooring in particular i

49:40think

49:40works really well and the standard of finish in the bathroom in the kitchen yeah great you could say he's

49:47floored by the quality finish with that what could it be worth on the open market

49:55looking now at the sales potential and there again is a strong demand for this area i think somewhere

50:03around 375 000 to 400 000 pounds i think that's a little bit lower than i've um been led to

50:12believe

50:12by other estate agents other local estate agents um they've said more like 410 to 420.

50:20if shane achieves his high evaluation that's a pre-tax profit of over 110 000 pounds but remember

50:28he's also hoping to sell the plot of land which the expert believes could fetch around 80 000 pounds with

50:35standing in place for a two-bed bungalow given a combined total profit of over 190 000 pounds

50:43so after this job well done what's next

50:48i am always looking um i'm looking at another house tomorrow

50:53um i'm actually looking forward to friday i'm having a a long weekend in benedorm just a nice little break

51:01um but like i said i've got this other house to move straight on to um so i'll be there

51:05tomorrow

51:07until it's finished

51:13back now to the leicestershire countryside where in 2015 i visited the village of tilton on the hill

51:20and looked around a three-bed stone built cottage which had a guy price of 220 000 pounds

51:27and inside things were a little tucked you'd have to start again in here i'm thinking to myself you

51:35need some more space i'd be inclined to knock it out give yourself a bit of an extension

51:40get that extra needed space in and around the kitchen and a bit of a family room as well

51:45toby and paul bought it for 276 000 pounds usually focused on new builds rising land costs

51:53and push them to try something new build a pool wasn't phased by the work but getting planning

51:59permission in a conservation area was always going to be tricky to get our money back because you know

52:05we've got to get the money back and we're gonna have to put a modest extension to gain some extra

52:09bedrooms and some extra accommodation space on the ground floor big living kitchen with french

52:13doors overlooking the garden and then hopefully another one stroke two bedrooms upstairs uh assuming the

52:18planning permission goes through which is always planning is always an issue and takes time puts

52:22time on your takes a lot of time it does paul and toby's budget for a two-story extension was

52:29130 000

52:31and they expected the work dependent on planning to take up to a year but when we returned to six

52:38months later the old cottage was already finished there was no two-story extension as planning took too

52:47long so paul and toby found another way they extended the kitchen under permitted development and the result

53:00was incredible limestone tiles bespoke carpentry and custom windows and doors

53:09even now more than a decade on it still looks right up to date

53:16the other big change was the transformation of the garage that had been used as a bin storage

53:24it was now part of the cottage creating a cozy study with new patio doors contrasting with original stone wall

53:36paul had even uncovered an old doorway complete with an oak lintel which had been lovingly restored and reinstated

53:46up upstairs paul had found a way to create a family bathroom by taking a little space from one of

53:52the bedrooms

53:57as you can see it was a bright spacious and modern bathroom and the bedroom next door was still a

54:05good size single

54:11then in the main bedroom paul had managed to squeeze in an ensuite

54:19and a new skylight flooded the space with light the third and final bedroom still had that quirky angle

54:28to it but everywhere had been re-plastered back downstairs the old kitchen had become a hallway

54:35that could also serve as a living space showing that when planning won't play ball there's always

54:42another way one way or another this is not the fireplace that you guys last saw when you were here

54:50behind the 1940s or 50s fireplace we found this lovely original georgian fireplace we haven't touched

54:56that that is exactly how it was the day it was built the only thing we have changed is we

55:00put a new fire

55:00basket in and a new hearth i think it's a lovely feature we're really glad we did it and everybody

55:05loves an open fire regarding some of the features we've actually managed to bring a lot of them back

55:09that were completely hidden that have been patched up and covered over over the years for example a lot

55:13of lovely beams timber beams that we've brought back a lot of exposed stonework that was covered over

55:18that we brought back into the building that's that's now on show that wasn't on show before

55:22i'm very pleased with the way the cottage looks it's a very subtle renovation i don't like bling i think

55:27what we've done is brought back a lot of the original character of the old building while

55:31adding to it in a very subtle way alongside this project paul was working on another property two

55:37days a week making this six and a half month transformation even more impressive i could have

55:43done it quicker if we throw more labor at the job but i've done a lot myself in terms of

55:48the dirty work

55:48the ripping out so to keep the cost down it actually took to make the job take a little bit

55:53longer

55:54of course that's one of the benefits of working for yourself the original budget had been 130 000

56:01pounds for a two-story extension so how did it all work out in the end we've spent in total

56:0778 and a

56:07half thousand pounds that includes legal fees um vat and everything to date for toby and paul more used

56:17to new bills this renovation lands smoothly and they'd created a desirable high-end home the plan

56:25for the cottage originally was always to sell it as soon as possible to try and get the funds back

56:29so

56:29that we can carry on and try and do it again and that is still the plan it was time

56:35to call in two

56:36property experts to see what they made of the transformation paul and toby had spent 354 and a

56:43half thousand pounds in total so was that wise yeah the second one time inside the property for

56:51myself um really like the property a lot of renovation work has been carried out it's also

56:56been extended and finished to a really really high standard the house itself has been done very very

57:01well to a high standard um so any any buyer moving in here has got nothing to do at all

57:06they had been

57:08impressed with the place but with toby and paul set to make a profit on their investment of

57:14354 and a half thousand pounds if the property was placed on the open market for sale i would

57:19suggest an asking price of 435 000 pounds with hopefully a sale price close to that figure currently

57:26if it's going to be put onto the open market i would expect it to achieve around 440 000 pounds

57:30that'd be fabulous if we could achieve something close to that that would be a good job for us

57:36so there was a potential profit of around 85 and a half thousand pounds before fees and tax a good

57:42result so were there any final thoughts um if i could have my time again i'd probably work harder at

57:48school go to university and become a dentist

57:52well paul had neatly filled the cracks of this old mortar

58:00right pal i hope you've enjoyed your time on homes under the hammer rather than um if you come back

58:08would you come back on the show would i come back on the show on one condition go on we

58:12get the script

58:12writer to take out all the blue pants you'll do well to me fair they're setting stone when we get

58:18you on the

58:18same stone there's loads more stories where they came from i'm pretty sure you'll join us again soon

58:23here on homes in the hammer goodbye goodbye

58:35you

58:53you

58:54you

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