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Homes.Under.the.Hammer.S29E05
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00:00Hello and welcome to the show now. Today's show's gonna be a little bit different. As you can see, we've
00:05got boy band royalty.
00:07What, Duncan from Blue? I'm a little bit excited today.
00:10I'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.
00:15And I'm hoping that it's gonna make you wanna give it a go.
00:19And we'll be looking back in the archive at some of our older properties as well.
00:23Well, I can't wait because I think our time today hopefully won't fly by too quickly, Dion.
00:28I like that. You like that one?
00:30Yeah, it's not bad.
00:31Well, if you wanna see what we've got in store for you today, keep watching today's Homes Under the Hammer.
01:01You can often find a hidden property gem at auction. It could be a home that is in need of
01:06a complete overhaul, or maybe it just needs a little bit of one love.
01:10Oh 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.
01:15A bit of money, a bit of determination, but you know what? The satisfaction comes when you watch it all
01:20unfold.
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.
01:36There you go, I love that one.
01:39Jackie discovers a red flag in Norwich.
01:42I can see signs of serious moles, or maybe there's been some sort of 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. We'll find out who bought them and what they paid for them
02:05when they went under the hammer.
02:07Well done. So...
02:16Now, not every postcode gets its own rom-com.
02:20Welcome to London's Notting Hill.
02:23Famous for its festival, colourful streets and a touch of celebrity sparkle.
02:29It's here we will find our first auction lot and its familiar territory for Duncan.
02:38So what was it then that made you want to come on, on our show?
02:42Listen, I love a bit of homes under the hammer. It's a guilty pleasure of mine.
02:46And who doesn't love a bit of the deal, eh?
02:47Don't be guilty, don't be guilty. It's not a bad show.
02:50It's a great show. And, er, yeah, I'm just, I was really excited to be here today. So, thank you
02:54for having me on.
02:55Yeah, it's a pleasure, it's a pleasure. This isn't your manor, 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. I'm from Dorset.
03:04And when I got on the band Blue and I had a bit of money, I thought I want to
03:08buy a house or buy an apartment.
03:09And I bought somewhere right round the corner from here, actually. So this is my old stomping ground.
03:14Well, I've got one for you to look at today. I'll tell you about it when we get a little
03:17bit closer.
03:18OK.
03:19But you've got to be surprised.
03:20Yeah?
03:20Come on, let's have a little look.
03:21OK, 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, there's plenty to get excited about.
03:50OK, 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.
03:56Nice tree-lined street. Well, this is where our property is right now.
04:00We've got a one-bed ground-floor flat. Here it is.
04:03Yeah.
04:04It went to auction with a guide price of £165,000. It's not bad, is it? I mean, here it
04:10is here.
04:10What's your first impressions? Nice sash window. Needs a bit of work.
04:13Yeah.
04:14Best thing I love, though, the colour of that door. It's a great colour.
04:17Oh, no. Blue. He's only gone there, isn't he? Early on, as well. Come on.
04:21I'm talking about Notting Hill, the man. Yeah, yeah. It was a blue door.
04:23I'll bet you are. I'll bet you are. Come on, let's have a look. All right, mate.
04:27As is common in London, this is a leasehold property.
04:32Luckily, there's a new 125-year lease.
04:36But if major alterations are needed, they might need the freeholder's approval.
04:41So let's hope inside is in good shape.
04:46Here we are, mate. Here we are.
04:48Oh, wow.
04:49Okay.
04:50Small, isn't she?
04:51It is. It is. What's that behind you there?
04:53Is that the...?
04:54That must be the bathroom.
04:55Okay, so bathroom there.
04:57Yeah.
04:58Lounge. Nice high ceilings, to be fair.
05:00Yeah, but that 90s light fitting's got to go straight there.
05:03There's no period features you'd expect.
05:05There isn't.
05:06Yeah.
05:06Bit of coving, maybe. Ceiling rows, maybe.
05:10Would be nice.
05:11Those pipes need boxing in.
05:12Yeah, absolutely.
05:13Well, we've got central heating.
05:14At least you've got a nice radiator.
05:16Which is good.
05:17And the sash windows that you mentioned on the outside.
05:20Yeah.
05:21Single glazed.
05:22Ah, noisy.
05:23Noisy.
05:24So they have to be changed, possibly, to keep the same sash style.
05:28Style, yeah.
05:29But in the double glazed.
05:30But they have the Notting Hill Carnival here, don't they?
05:32So every August, you're going to need that double glazing.
05:36Just you to think about the music element.
05:37I do like that.
05:38I do like that.
05:39Not a bad-sized kitchen.
05:42Okay, it's...
05:43Yeah.
05:43It needs ripping out and starting again, doesn't it?
05:46So...
05:46Are you a bit of a handyman yourself?
05:48Do you get involved?
05:49I do.
05:49Do you know what?
05:49I get really excited about things like ripping out a kitchen.
05:53Doing a bit of gardening.
05:54You're getting old?
05:54I'm getting old, mate.
05:56So, yeah, I'm looking at things now and thinking,
05:58oh, I'll do this with this, do that with that, but, yeah.
06:00By the way, I live up in Liverpool.
06:02Okay.
06:03Just about to sort out my own house as well.
06:04Could do a bit of help with a new kitchen, bit of painting.
06:06Yeah, mate.
06:07Is that right?
06:08I'm your man.
06:09Let's go.
06:13Maybe Duncan can turn his design flair to the bathroom too.
06:19It's got the basics, but in a desirable postcode like this,
06:22upgrading it could make it sing and potentially bring better returns.
06:28Elsewhere, the flat space is tight,
06:31and although the auction catalogue calls it a one bed,
06:34I'm not too sure.
06:37So, at the moment...
06:39Yeah.
06:39We've got a bit of a...
06:40Bit of a studio.
06:42What if you put that, the kitchen,
06:44and you brought the kitchen into here,
06:46and you have this as, like, a kitchen living rooms area,
06:49and you have that as the bedroom...
06:50Yes.
06:51That becomes...
06:52A one bed.
06:53This is what this was advertised as.
06:54That's very, very good.
06:56And that does.
06:57However, if it were mine,
06:59I'd want to keep it as a kitchen just for the smells.
07:01Get those smells outside.
07:02Yeah.
07:03Yeah, it would work.
07:04Listen, a lot of places nowadays do put the kitchen
07:06and the front roof together.
07:08Yeah, they do.
07:08You know, you are cooking where you're sitting, aren't you?
07:11I suppose it can be a little bit of a social thing as well,
07:14because everybody's trying to create kitchen diners, aren't they?
07:16Yeah, yeah.
07:16So, I suppose that, you know, it works both ways.
07:18We're both right.
07:20There you are, I love that one.
07:20I rest my case.
07:24Sometimes it's easier to settle,
07:27but in this case, we've called in a local estate agent
07:30to weigh in on this disagreement.
07:32Yeah, yeah.
07:36What do they make of this lot's potential
07:38and what would they do with this flat
07:40that was guided at 165,000 pounds?
07:43I rest my case.
07:47It's a very spacious studio.
07:49Not many studios have a big separate kitchen,
07:52so I think here there's a lot of potential
07:54to convert into a one bedroom
07:56to then increase its value.
07:59It's a raised ground floor flat.
08:00It's got a lovely high ceilings.
08:01The road is quite confidential,
08:02so it does have all the features
08:04that buyers and tenants look for.
08:08The agent also notes that buyers and tenants
08:12in this area expect a high standard of finish.
08:15But which route works better in terms of investment,
08:18keeping it as a studio
08:20or converting it into a one bed flat?
08:23First, let's look at the potential returns
08:25as it is now.
08:26Kept as a studio.
08:28This property should rent for around 1,700
08:30up to 1,800 pounds a month.
08:33And I think it will sell for around 350,000 pounds
08:36up to 370,000 pounds.
08:40And what sort of figures could a buyer expect
08:42if they were able to convert into a one bed flat,
08:45both on the rental and sales market?
08:48As a renovated one bedroom property,
08:50this should be marketed at 450,000 pounds
08:54and sold for around 425,000 to 430,000 pounds.
08:57I believe this property should rent
08:59for around 1,800 to 2,000 pounds a month.
09:03All right, thank you, sir.
09:04Thank you very much.
09:05Thank you very much.
09:06Sun's out.
09:07Sun's out, mate.
09:08Yeah, sun's out.
09:09So tell me, this is your first property here.
09:12Yeah.
09:12Home's under the hammer.
09:13I'm pretty sure there'll be loads more
09:14because you're doing pretty good today.
09:16Anyway, what were your thoughts?
09:17Do you know what?
09:18It's a small property,
09:19but I think it's got a really great investment opportunity.
09:22Rent it out for some decent money.
09:24Wouldn't say too long, would it?
09:25No, and it's a lovely area.
09:26Big question is,
09:27did they all lie in the auction room?
09:29Sorry.
09:30So I just had to get it out.
09:32Good one, Dion.
09:33Yeah, like that one.
09:35There's so many more, by the way.
09:36I'm sure there is.
09:37So many more.
09:38What do you think the auction room is like?
09:40Well, let's find out.
09:41Let's find out who bought it,
09:42how much they paid for it
09:43when it went under the hammer.
09:47This lot was part of a remote auction
09:49with bids taking place online.
09:51The third and final time, all done.
09:53Sold to the internet.
09:58With a winning bid of £320,000,
10:01it was bought by Lurin,
10:03an experienced property developer
10:05we've met on the show before.
10:10Last time he converted a grand Victorian home
10:12into three luxurious flats in nearby Clapham.
10:19Duncan and I met him to hear
10:21what his plans were for this place.
10:31Blue and nice to meet you.
10:32Nice to meet you.
10:33My partner for today, Duncan from Blue.
10:35Amazing, nice to meet you.
10:36Nice to meet you, yeah.
10:37You've been on the show before?
10:38Yeah, couple of times.
10:39Couple of times.
10:41But you're obviously still enjoying
10:42your property developing...
10:43Oh, I love it, yeah.
10:45...journey.
10:45Yeah, it is, yeah.
10:46Tell us what about this one that you liked?
10:48Well, I actually didn't see it in person.
10:52Yeah, it was my colleague,
10:53but then I was like,
10:56can we actually convert it into a one bed?
10:58I think that would be a good idea.
11:01Oh, so that's what you want to do?
11:02You want to convert it?
11:03Yeah, yeah.
11:03Yeah, so we are converting it back to a one bedroom flat.
11:06Yeah, it's alright.
11:07That was his idea, by the way.
11:09Fair enough.
11:09Yeah, no, yeah.
11:10So you said...
11:11Yeah, you got the potential.
11:12Yeah, yeah.
11:13Let me show you, yeah.
11:14Well, I see.
11:15So you're going to make that into the bedroom?
11:16The kitchen into the bedroom,
11:17and you're going to turn this into, like,
11:18a living room kitchen space?
11:19Yeah, kitchen space, yeah, yeah.
11:21Okay.
11:21Is this staying here?
11:23Is this what will stay?
11:24Yeah, it has to stay, yeah.
11:26Okay.
11:26Because we will close up this one,
11:29but behind you, that will be the door going into this space.
11:33Ah, okay.
11:34Yeah.
11:34I like that, I like that.
11:35So that's going to be boarded?
11:36Yeah.
11:37And then it's going to be here?
11:37That's the door, yeah, to the bedroom.
11:39Very clever.
11:40Easily done.
11:41Well done.
11:41The main reason is because I hear we need a big wardrobe.
11:45Okay.
11:46Yeah, so you have a storage space, yeah.
11:48Okay.
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, yeah.
11:54Good.
11:54What are you going to do to the bathroom area?
11:56All right, so we will change everything to, like,
11:58a new finish to, like, a little bit, like, more premium
12:01and, 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,
12:07or 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 the feedback,
12:16we think about maybe being changed 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 me.
12:21Exactly, so, like...
12:22I like a soak.
12:23It's like, you lose the opportunity to take a nice bath,
12:26like, yeah, so...
12:28So I said to Dion, I love the sash window.
12:31Any design plans for that?
12:32You going to keep it as it is?
12:33You 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,
12:39because 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 and the energy of the house.
12:50Ah, the energy rating.
12:51Yeah, exactly.
12:52It makes it more attractive as well, to be honest with you.
12:54I 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, you 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.
13:19It's going to be quirky?
13:20And why? Is that because of the area?
13:22Yes, because of the area.
13:23You see, like, we will try to be funky 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
13:43and handmade furniture that he'll dress the flat with.
13:47The walls will stay neutral for buyers,
13:50but everything else will get a hint of funk.
13:53Bold shapes, bright colours, and a kitchen that can cook up style
13:57as well as dinner.
13:59With a 50-gram budget, the plan is to flip the flat in two months
14:03and get the finish to live up to its location.
14:07Are you going to try and instill maybe some of the old,
14:11sort of, period features, any coving, any ceiling rows?
14:13Well, we will expect this one because it can't be just overly funky.
14:19We still want to be, like, the same as, like, you see a Victorian house.
14:23You want some Victorian feature inside.
14:26I've got a feeling you're going to do a very good job, Luin.
14:28Yeah, I've got a feeling.
14:29I think you will as well.
14:30So, Luin, do you get involved with the construction part?
14:34Yeah.
14:35Or do you just leave that to professionals?
14:35I come to the side, the chairs, and, er, at the same time,
14:40also, like, er, I try to check what the quality is, let's say.
14:44Yeah.
14:45Oh, like, because we designed the whole house.
14:47Do you crack the whip and make sure everyone's doing their talk?
14:49Yeah.
14:50Yeah.
14:50He's the boss.
14:51He is, isn't he?
14:52I like that, I like that.
14:54Listen, good luck.
14:55Yeah.
14:55We wish you all the best.
14:56Oh, thank you very much.
14:57Take care.
14:58Thanks for coming.
15:00Good luck.
15:01Well, he seems to know what he's doing, doesn't he?
15:03Yeah, he's good.
15:04He's good.
15:04Great ideas.
15:06And I hate to say it, but you were right.
15:09Thank you, yep.
15:09Bedroom right here.
15:10I knew it.
15:11I had a feeling he was going to turn this into the bedroom, so.
15:13Yeah, yeah.
15:13It wouldn't be my choice, but I think it's going to work for the market he's looking for as
15:19well.
15:19So, um, okay, go on.
15:21I'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 thing on the show.
15:34We are off to a city I know well, the lively city of Norwich.
15:40It's full of enduring architecture.
15:42For 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 lot.
16:01Well, 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.
16:19Um, it does sit on a sizeable plot and actually you do get a rather large detached garage with it
16:26and off-road parking.
16:28But there's even more.
16:30Because this property also comes with a plot of land to the side.
16:36We'll have a look at that in more detail later.
16:39But let's get inside.
16:43Nice, solid door.
16:45Very 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.
16:59It looks a bit dated, the lighting there.
17:01And then bedroom number two, which is the largest actually, you've got a bank of sort of sliding doors for
17:08the wardrobe.
17:09But I can see signs of serious moulds.
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, straight away I can see it's sort of like a hairline
17:26crack going down one side of the room.
17:29But this crack is the one that's a little bit more serious.
17:34And so you've got lots of different variations on the cracks there.
17:37But this one is really wide and I can actually feel a breeze that is not good.
17:44That means this is not just a surface crack.
17:47This is going all the way through.
17:49You need to get that checked out.
17:51Further cracks are revealed to the side here of the radiator underneath the windows as well.
17:57But it's that view.
17:58It's not great, is it?
17:59You're just looking at the neighbour's fence, albeit a very nice fence.
18:03What I would probably do is put a mural there, a beach scene, woodland scene, vineyards.
18:12That might be quite nice.
18:14And they'll never know, will they?
18:15That would be lovely.
18:17All I want is a room with a view.
18:21The neighbour might not get to enjoy the artwork.
18:25But if it's their fence, you will need to ask permission before you start painting.
18:31For 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.
18:41The garden needs a trim.
18:42The lounge needs to be modernised.
18:45The fourth bedroom needs to be decorated.
18:47And 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've saved the best till last.
19:08So, your bungalow comes with this plot of land.
19:15And it's big enough, if you could get planning, to actually build a separate detached two-bed bungalow.
19:23And you could also create a driveway there as well.
19:26So, there are options.
19:28Would it be worth it?
19:29What do they use the house for?
19:31What are they going to use the land for?
19:33But it's always good, as ever, to have options.
19:38It certainly is.
19:40Although, with no planning permission in place to build on the land,
19:43speaking to a local councillor 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,
19:59on this bungalow guided at £200,000 to £225,000.
20:04Here we've got a four-bedroom house.
20:08Some of the bedrooms, to me, are 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 £400,000 to £450,000.
20:43And 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 £1,400 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.
21:24Well, this bungalow needs the full cosmetic works.
21:29You 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. Who 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.
21:57Selling away then. Congratulations.
22:02It was snapped up by property developer Shane for £253,500.
22:11Shane's renovated many properties before and Jackie met him to catch up and find out his plans for this one.
22:19Shane, wonderful to meet you. And you.
22:22And 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?
22:33I did. Yes.
22:35And did you think...
22:36That is a must for me.
22:37Good. Good.
22:38And what did you think when you walked in?
22:40I've seen a lot worse and I've done a lot worse.
22:44It's just superficial.
22:46Yeah.
22:46There's some quite large cracks and you can actually feel breeze coming through.
22:51Are you worried about that?
22:52Have you got someone to look at that?
22:54I've come across that several times in the past.
22:56I will be getting a structural engineer involved.
23:00Purely just once it's signed off, everybody's happy.
23:03Yeah.
23:04Yeah.
23:04Exactly.
23:05And so when you came and visited and you saw the plot at the side, what were your first thoughts
23:12about that?
23:13I've built houses not far from here in Tackleston, just outside of Norwich, that would fit on there.
23:19The footprint of the house would fit on there and still allow a piece of garden.
23:22Yeah.
23:23A two bed or one bed or what?
23:24Two bed.
23:25Yes.
23:25I probably won't build it though.
23:27I have done new builds in the past, but I'll probably sell it.
23:30Very good.
23:31Let's come back into the house now itself.
23:34What's your thoughts?
23:35What 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.
23:41No.
23:42The only thing that I will add to it is an ensuite to the master bedroom.
23:46Wow.
23:46Which will make that slightly tighter than it is now, but 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.
23:57The kitchen's a good size though, isn't it?
23:58It is a good size, yeah.
24:00Yeah.
24:00It seems a shame that there isn't a breakfast bar in there.
24:02Yeah, I know, but I think there's a space for a dining table by the window, isn't there?
24:06There 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, hopefully that'll...
24:12In the bathroom, it's not really a 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 like a traditional bathroom than a wet room.
24:22Yeah.
24:22Yes, yeah, which is great.
24:24And then you have the ensuite anyway for the master room.
24:27And then things like the electrics, because the electrics, you know, look a bit dated.
24:32Who does that?
24:33Is that something that you do?
24:34I have a company that come in and do that.
24:35Oh, right, okay.
24:37Yeah.
24:37And the plumbing as well.
24:38Right.
24:39So, is this what you do full-time, Shane?
24:41Yeah.
24:42Is it?
24:43Well then, there you go.
24:44That's why you're all cool and like, yeah, that's not a problem, yeah.
24:48Yeah.
24:48So, what's the plan for this place?
24:50Are you going to rent it or sell it?
24:51Sell it.
24:51What are you going to spend on this?
24:53I'm hoping 60 is the maximum.
24:56Do you know what?
24:57That's quite generous, because you're not doing any extensions or anything like that.
25:00And then, what about timescale?
25:02How soon do you want this on the market, ready to be sold?
25:04I'm hoping for 12 weeks.
25:06You don't know until 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 fallen into the right hands with you, Shane.
25:18That's what I feel.
25:20And I wish you the very, very best of luck with this.
25:23I really do.
25:24Thank you very much.
25:27Well, Shane is an experienced property developer, and he doesn't seem fazed by any of the works
25:33that's about to take place here.
25:35He's got his team of trusted trades, and he has a plan.
25:38The plan for the bungalow is to fully modernise it.
25:42The plan for the plot of land is to sell it on.
25:45Very, very savvy.
25:47How will it all go?
25:48You 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?
26:01Let's have a look.
26:04And we return to Norwich to see what Shane was able to do with this cracking bungalow.
26:15Back to Notting Hill in London, where I was joined by Blues Duncan, and he didn't waste any
26:21time sharing his thoughts on a one-bed leasehold flat guided at £165,000.
26:28Best thing I love, the colour of that door.
26:31It's a great colour.
26:31Oh, no.
26:32He's only gone there, isn't he?
26:34Early on as well.
26:35Come on, let's have a look.
26:36It wasn't just puns Duncan had his eye on.
26:39He had a layout idea too.
26:42At the moment, we've got a bit of a studio.
26:45What 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 as.
26:52That's very, very good.
26:54Although I like my kitchen separate, I was outnumbered because the new owner, Lewin, planned
26:59to do just that.
27:01He had been on the show before and had bought the flat for £320,000.
27:06When we come through this door here, what are we going to see?
27:10OK, so this one got to be quirky.
27:13It's going to be quirky?
27:14Yeah.
27:14And why?
27:14Is that because of the area?
27:15Yes, because of the area.
27:17You see, like, we will try to be funky in this part of the town.
27:21Yeah.
27:22How was I to know you just come along?
27:27As an experienced developer and designer, Lewin planned to move the kitchen into the living
27:33space and give the flat a high-end finish.
27:36He aimed to have it salon ready in two months and for £50,000.
27:41Nearly three months on, we are back.
27:48And while it's not quite finished, Lewin is very much on the home straight.
27:53We 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 kitchen has become a bedroom with its own
28:13access 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.
28:25A layout Lewin thinks buyers prefer.
28:29And it's been finished to the same high standard we've seen him achieve before.
28:33One that fits perfectly with the desirable area.
28:38We have built this L-shaped kitchen next to the chimney breast.
28:43On the other side, we'll put the fridge.
28:45So in this way, one side of the corner becomes like a dining and cooking area.
28:49But on the other side, we'll put the sofa, the dining table, a space to greet your friends,
28:56your guests and bosses so you enjoy your time before your bed.
29:01The finishing touches are still to come with furniture from Lewin's own design company
29:06set to bring colour and character.
29:08But the bathroom's already making a statement with green marble tiles
29:13and modern walk-in shower replacing the bathroom.
29:17It has a low ceiling, so once you stand into the bath and try to take a shower,
29:24you'll burn your head and shower like this.
29:27I don't think that's very pleasant, yeah.
29:29Now I think it has a bigger space for any functions.
29:34There will be plenty of premium touches, two wall-mounted taps,
29:39a concealed shower mixer, a marble worktop in the kitchen and new timber flooring.
29:46Upgrading the windows, insulation and boiler should also boost the flat's energy rating.
29:53The 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.
30:08And 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.
30:27So we planned for eight weeks' program, but now it's taking ten to twelve weeks.
30:33The main reason it was difficult for us to move the gas meter and gas pipe from the original kitchen.
30:42Apart from that, everything was on the good track.
30:46Hopefully things were as positive when it came to his budget of 50 grand.
30:52We'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.
31:10Hopefully 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
31:19and find out its new valuation.
31:22Having taken a look at the flat, I think the refurbishment has been exceptional.
31:28It was a great idea to turn it from a studio to a one-bedroom apartment.
31:33The 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 per calendar month,
31:48but selling has always been the plan.
31:51Once complete, Lewin will have spent around £360,000.
31:56So what could it be worth on the sales market?
31:59If I had to list this property on the market, I'd put it on the market at around £500,000,
32:04with the aim to achieve around £475,000.
32:07For the advice the agent gave, it sounds about right, and I would be hoping and happy,
32:16I would be hoping to have this figure in the end, and I'll be happy with the programme, yeah.
32:22A sale at £475,000 would mean a healthy pre-tax profit of £115,000.
32:31So it's been a successful project for Lewin.
32:34He'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.
32:46So when I leave from here, we were still doing the structure.
32:49When 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,
33:20when I think I started, where I was in the village that offered the Quiet Life chocolate box cottages and
33:26the village green.
33:27I 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.
33:38It's this building I'm here to see, a stone-built cottage with a guide price of £220,000.
33:45It has three bedrooms, and it's beautiful on the outside, but is it beautiful on the inside?
33:50Let's have a look.
33:55Okay, we've got a small portrait area, and right in front, we've got a shower sort of wet room there,
34:01and a toilet.
34:03They are a bit of a strange shape, because they are on the corner.
34:06How you'd reconfigure that, I'm not sure.
34:08And it does say to me that if there's a toilet downstairs, there may not be one upstairs.
34:13Up a step into the kitchen, which is a little tight, but not too bad.
34:20You'd have to start again in here, you've got the old-fashioned cooker there.
34:24Stairs up to the bedrooms, a little bit of storage.
34:28I'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.
34:34Get that extra needed space in and around the kitchen, and a bit of a family room as well.
34:40Let's see what else there is.
34:43So as I'm coming through, I can see there's a small lean-to just there, looking out onto the back
34:48garden.
34:48You can actually feel the heat coming in off that.
34:51Into the lounge living area, with a real fireplace there, what I expected in a village cottage.
34:59A little bit of central heating as well.
35:01And I can see through that window, that's the road, which is the front of the house.
35:05So if you were looking to extend, your only option would be to go into the back garden.
35:12That was no bad thing, as outside this cottage came with plenty of land, so there was no need to
35:19compromise when it came to extend it.
35:21But there was one thing to consider, and that was planning.
35:25Especially as this was a conservation area, so there was likely to be some restrictions in place.
35:32There 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.
35:47The garden was peaceful, the setting was ideal, and we were lucky with the weather too.
35:52Just look at that sunshine.
35:56So upstairs, we've got three bedrooms.
35:59Bedroom one there, which is a really big bedroom, actually.
36:03Wasn't expecting that.
36:04Across the hall, we've got bedroom two, which is quite small.
36:08Along a long corridor, wasted space there.
36:12Into bedroom three, which is not only small, it's a strange shape as well.
36:18Now, there's no bathroom, no toilet upstairs.
36:20So for me, it's crying out, turn this into your family bathroom up here.
36:25And if you are thinking of doing that extension, don't just extend the kitchen.
36:29Maybe extend above it as well, which will give you your bedroom back.
36:33So you have three bedrooms, bathroom upstairs and extra living space.
36:38A two-storey extension could have solved a lot, but that's never cheap or easy to get past planning.
36:46Even so, the existing rooms felt quirky and space could have been used better.
36:51So what did the property expert from the auction house that sold it think of this pretty three-bed cottage,
36:58guided at £220,000?
37:01The property stands a good-sized plot, so there's plenty of scope for extension.
37:05However, it is in a conservation area, so you would have to be a little bit careful on the materials
37:10used to extend the property.
37:12It would probably have to be in keeping with the surrounding area of local stone and possibly slate roofs.
37:18There were plenty of options, but what kind of return might have been possible after renovation?
37:25If it was modernised, I'd expect the valuation to be somewhere in the region of £325,000.
37:30However, if it was extended as well to probably make a four-bedroom property,
37:34then the valuation probably would be somewhere in the region of £450,000.
37:39With a £220,000 guide price, extension or not, this cottage looked like it could pay its way.
37:46But being an old soul in a conservation area, it came with a few strings attached.
37:52Still, for a long-term investor, the question was, what kind of rental return could it bring in?
37:58Once the property is fully modernised, I'd expect the rental to be in the region of £900 per calendar month.
38:03If the property was extended to provide four bedrooms, then I would expect that rental income to increase to around
38:09£1,200 per calendar month.
38:14This could be a beautiful family home in some amazing surroundings, but it's just a little too small inside.
38:21If it were mine, I'd look to extend, which would give you that much-needed extra space.
38:26Let's see who saw the potential when it went under the hammer.
38:29At auction, it was a competitive lot.
38:325276, shakes his head. Third and final time, we're all done with it.
38:37Bold, you're so well-bought.
38:39The winning bid came from Toby on the right and his business partner Paul on the left.
38:46Toby handled the finances for their property ventures, and together they secured the cottage for £276,000.
38:54Paul, the one with the building know-how, met up with me to share their vision for this place.
39:00Paul, nice to meet you. How are you? And congratulations. Thank you.
39:03So tell us about the auction. How was it? Expensive.
39:08It didn't go our way, and we were hoping to bag a bargain, and we had somebody who really wanted
39:13it, the same as us, and that's pushed us up a bit.
39:15So it puts pressure on us now for the budget and the construction costs to try and keep that under
39:20control.
39:20Why this particular property in this area?
39:24We've got a background more in new build. We tried to pick up a single, we're a building company, a
39:28single building plant, couldn't find any.
39:30At the moment, they're all overpriced, and so we've looked for a bit of a doer-upper.
39:34There's a new venture for you.
39:36It is. I mean, I've done a lot of work for people in this kind of environment working for somebody.
39:40It could be working for you on a refurb of barn conversion, extension, whatever.
39:44But this is the first time as a company we've taken on this kind of job.
39:47If you're buying land, do you build on that land to rent or to sell again?
39:52For ourselves. No, we can't afford to rent. We have to shift it on, and we'll try and shift this
39:56on as quickly as we can.
39:57So how are you going to change it?
39:58There's going to be a subtle renovation of the original cottage. The stonework needs some restoration.
40:02We'll put back timber windows to get our money back, because, you know, we've got to get the money back,
40:08and we're going to have to put a modest extension to gain some extra bedrooms and some extra accommodation space
40:13on the ground floor.
40:14Big living kitchen with French doors overlooking the garden, and then hopefully another one-stroke two bedrooms upstairs.
40:19Assuming the planning permission goes through, which is always an issue.
40:23And takes time. It puts time on your...
40:25It takes a lot of time. It does.
40:27We've got an existing garage. We don't know whether to convert that into another room.
40:30Again, budget depending. That will give us a bit more space on the ground floor as well.
40:33Yeah, of course.
40:34Possibly an oak frame garage, if we can afford it.
40:36But that isn't... That's looking down for the moment.
40:39Talking of purse strings. Yeah.
40:40What's your budget, sir?
40:42Well, we always talk ex-VAT builders, and I've done detailed costing,
40:46and we're looking at something around $112,000 plus VAT.
40:50So we're looking at about $130,000.
40:52Yes, and that's...
40:53This is a lot of money. It's the VAT that kills us.
40:55On the new build, on the new build, you don't pay VAT.
40:57Yeah.
40:57So the tax man will be happy on this one.
41:01Even a decade on, the rules are still in place.
41:04New houses or flats built from scratch may be eligible for zero-rated VAT.
41:10And certain alterations made for disability adaptations can also qualify.
41:16Though these didn't apply to Toby and Paul's project here.
41:20The whole building, plumbing and electric, it's replastering.
41:23It's a complete shell rebuild, really.
41:25It is, isn't it? A complete overhaul. Yeah.
41:27And how long is that going to take you, fingers crossed?
41:30Well, that depends whether it's my decision or the planning office decision.
41:35If we were just able to crack on now, we'd turn it around in five to six months.
41:38But we're going to be waiting for planning permission.
41:40It's a conservation area.
41:41I've got the conservation officer who's going to have to sign off things like the way we're doing the stonework
41:45and the restoring of the outside of the building.
41:48So that will slow us right down.
41:49What's the best scenario, do you think, if you're having to wait for planning and...?
41:53Within a year. That much difference.
41:55Is that right? We could take three months trying to get planning permission.
41:58So I'm going to have to drop away and go and get a job.
42:01So if you want anything doing...
42:02I might be looking for a job as well.
42:05Pretty soon.
42:07Paul might have laughed of a slow patch, but in 2015, the after effects of the 2008 financial crisis
42:15were still keenly felt by many.
42:18We had a couple of big houses we built, lovely houses.
42:20Nobody could get a mortgage. The bank wanted the money back.
42:23It's, you know, it's a story that's been heard a lot in recent years.
42:25Yeah, yeah, of course.
42:26So this is us. It's been a hard five years, six years coming back, really.
42:30So this is an important job for us.
42:32Toby and Paul's experience showed just how quickly things can go sideways in property development.
42:40Even years after the financial crisis, they were still facing challenges.
42:45Finding affordable land was tough, which had pushed them into this new type of project with the cottage.
42:52With so much riding on it, it was no surprise they had some concerns.
42:56The budget obviously is the big issue, is whether we can get the specification that we need at the high
43:02end to get back what we need.
43:04So it's mainly the constraints of the budget. The construction doesn't bother me in the slightest.
43:08I wish you all the best.
43:09Thank you. Good luck. Cheers. Good luck.
43:12Paul's found himself a lovely cottage in a really nice village, and I can understand why he's stuck to his
43:18guns at auction.
43:19But there are a few problems he has to overcome.
43:22Planning permission is in a conservation area, which may throw up a few problems.
43:27And that budget of £130,000, will it be enough?
43:31You can find out later on in the programme.
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 green potential with a guide price of £200,000 to £225,000, 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 £253,500.
44:23Is this what you do full time, Shane?
44:25Yeah.
44:26Is it?
44:26Yeah.
44:27Well then, there you go. That's why you're all cool and like, yeah, that's no problem, yeah.
44:32Shane wanted to modernise and flip the bungalow, then tried to obtain planning for a new build on the plot
44:39of land before also selling it on.
44:41He had a budget of £60,000 and hoped the work would take 12 weeks.
44:46But less than three months on, we are back.
44:55Outside, we had to trim the trees down quite a bit in the side garden.
45:00The driveway the same, that was a bit of a mess, so that was all scraped back, replaced and then
45:06basically tidied everything up, re-rendered it where it needed it, painted it.
45:11It's curb appeal has improved dramatically.
45:14It's curb appeal has improved dramatically. Even the garage has seen an exterior upgrade.
45:19And the transformation continues on the inside.
45:25The first job was always just to come in and strip everything out and then basically the entire house was
45:30plastered, partially re-wired where it needed it, re-decorated.
45:35All the bedrooms have seen a vast improvement, particularly the rear main bedroom where the built-in storage has become
45:44a compact ensuite.
45:47The areas of damp retreated, coated in sealant and re-plastered, but that was nothing compared to the blue bedroom.
45:58We had some cracks that we had a structural engineer look at, so that was a priority to get looked
46:05at.
46:06He did a report and recommended work, which we followed to a tee.
46:12Shane and his team repaired the cracks using a method called stitching, reinforcing the brickwork with metal rods to prevent
46:20further movement.
46:23The old wet room has been converted into a bathroom with a clean look that can be seen throughout the
46:29house, including in the living room.
46:34I try and go for sort of modern and timeless, neutral colours, gives people a blank canvas so they can
46:41put their own stamp on it if they want to.
46:43It's nice to take something that's old and worn and give it a new lease of life, ready for its
46:49new owners to move in.
46:58Desperate for that new lease of life was the kitchen, which has been completely overhauled with new units, stylish, handleless
47:07doors and more than enough space for that breakfast bar.
47:11And with the boiler moved to the loft, there's even more storage in this large kitchen.
47:17But Shane did toy with the idea of taking the renovation one step further.
47:22We did consider taking a wall out between the kitchen and the lounge to maybe make that, you know, one
47:28bigger area.
47:29But with it not being completely parallel, it didn't, it didn't really work.
47:35It wouldn't have worked particularly well if we'd have opened it up.
47:37So we just left it as it was.
47:41The difference in level can be seen from the back garden, which has been trimmed down and the patio only
47:48done.
47:49Staying outdoors, the plot of land at the side is still a work in progress.
47:53So we've got a planning application in for a small two bedroom bungalow.
47:58I have done new builds, I've done several new builds in the past, but I think I'll just sell it
48:04on to someone else to deal with.
48:06If Shane secures planning for the new build, this plot could see a healthy boost in value.
48:12But with most of his time and budget tied up in renovating the bungalow, has he managed to stick to
48:17the original budget of 60 grand?
48:21Still waiting for a few builds to come in, but it's looking to be about 50 to 55, which I'm
48:26pleased with, to be honest with you.
48:28That also includes around £1,600 in fees linked to planning for the plot of land.
48:33But when it came to the bungalow, the work was finished quicker than the planned 12 weeks.
48:40I think it's about nine, and we have had a few days off here and there, mainly due to weather.
48:46You know, when we were working on the outside and we couldn't get on the inside because other trades were
48:50in.
48:51But no, it's gone really well.
48:53Coming in below budget and well within his timescale is something Shane should be proud of, as well as creating
49:00a sleek, stylish home.
49:05But after spending a total of £308,500, including the purchase price, has this been money well spent?
49:14We asked back the property expert who viewed it last time for his thoughts and valuations.
49:19Now the work is complete.
49:21Back again, just nine weeks after we were here to look at the property just after auction.
49:28Wow, what a change.
49:29They've really done some work on this, haven't they?
49:31I like the flooring that's gone in.
49:34I'm not a huge fan of grey carpet.
49:37It's very popular at the moment.
49:39But the flooring in particular, I think, works really well.
49:41And the standard of finish in the bathroom and the kitchen.
49:44Yeah, great.
49:46You could say he's floored by the quality finish.
49:50With 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 around
50:03£375,000 to £400,000.
50:07I think that's a little bit lower than I've been led to believe by other estate agents, other local estate
50:14agents.
50:16They've said more like £410,000 to £420,000.
50:20If Shane achieves his higher valuation, that's a pre-tax profit of over £110,000.
50:26But remember, he's also hoping to sell the plot of land, which the expert believes could fetch around £80,000
50:34with planning in place for a two bed bungalow, given a combined total profit of over £190,000.
50:43So after this job well done, what's next?
50:49I am always looking.
50:50I'm looking at another house tomorrow.
50:54I'm actually looking forward to Friday.
50:56I'm having a long weekend in Benidorm.
50:59Just a nice little break.
51:02But like I said, I've got this other house to move straight onto, so I'll be there tomorrow until it's
51:07finished.
51:13Back now to the Leicestershire countryside, where in 2015 I visited the village of Tilton on the hill and looked
51:21around a three bed stone built cottage, which had a guide price of £220,000.
51:27And inside things were a little tight.
51:31You'd have to start again in here.
51:33I'm thinking to myself, you need some more space.
51:36I'd be inclined to knock it out, give yourself a bit of an extension, get that extra needed space in
51:42and around the kitchen and a bit of a family room as well.
51:46Toby and Paul bought it for £276,000.
51:50Usually focused on new builds, rising land costs had pushed them to try something new.
51:55Builder Paul wasn't phased by the work, but getting planning permission in a conservation area was always going to be
52:02tricky.
52:02To get our money back, because, you know, we've got to get the money back, and we're going to have
52:07to put a modest extension to gain some extra bedrooms and some extra accommodation space on the ground floor.
52:12Big living kitchen with French doors overlooking the garden, and then hopefully another one stroke two bedrooms upstairs.
52:17Assuming the planning permission goes through, which is always an issue.
52:22And takes time, puts time on your...
52:23Takes a lot of time, it does.
52:25Paul and Toby's budget for a two-storey extension was £130,000, and they expected the work, dependent on planning,
52:35to take up to a year.
52:36But when we returned just six months later...
52:40The old cottage was already finished.
52:43There was no two-storey extension, as planning took too long.
52:48So Paul and Toby found another way.
52:50One way, for another, I'm gonna see ya.
52:55They extended the kitchen under permitted development, and the result was incredible.
53:01Limestone tiles, bespoke carpentry, and custom windows and doors.
53:09Even now, more than a decade on, it still looks light 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 cosy study with new patio doors contrasting with original stone wall.
53:35Paul had even uncovered an old doorway, complete with an oak lintel, which had been lovingly restored and reinstated.
53:46Upstairs, Paul had found a way to create a family bathroom by taking a little space from one of the
53:52bedrooms.
53:52One way or another, I'm gonna see ya.
53:57As you can see, it was a bright, spacious and modern bathroom.
54:02And the bedroom next door was still a good-sized 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.
54:24The third and final bedroom still had that quirky angle to it, but everywhere had been re-plastered.
54:32Back downstairs, the old kitchen had become a hallway that could also serve as a living space.
54:38Showing that when planning won't play ball, there's always another way.
54:47This 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.
54:55We haven't touched that, that is exactly how it was the day it was built.
54:58The only thing we have changed is we've put a new fire basket in and a new hearth.
55:02I think it's a lovely feature, we're really glad we did it, and everybody loves an open fire.
55:06Regarding some of the features, we've actually managed to bring a lot of them back that were completely hidden,
55:11that have been patched up and covered over, over the years.
55:13For example, a lot of lovely beams, timber beams that we've brought back,
55:16a lot of exposed stonework that was covered over, that we brought back into the building
55:20that'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.
55:26I don't like bling, I think what we've done is brought back a lot of the original character of the
55:30old building,
55:30while adding to it in a very subtle way.
55:33Alongside this project, Paul was working on another property two days a week,
55:38making this six and a half month transformation even more impressive.
55:43I could have done it quicker if we'd thrown more labour at the job,
55:45but I've done a lot myself in terms of the dirty work, the ripping out,
55:49so to keep the cost down, it actually made the job take a little bit longer.
55:54Of course, that's one of the benefits of working for yourself.
55:58The original budget had been £130,000 for a two-storey extension,
56:03so how did it all work out in the end?
56:05We've spent in total £78,500, that includes legal fees, VAT and everything to date.
56:15For Toby and Paul, more use to new builds, this renovation ran smoothly
56:20and they'd created a desirable high-end home.
56:24The plan for the cottage originally was always to sell it as soon as possible
56:28to try and get the funds back so that we can carry on and try and do it again,
56:31and that is still the plan.
56:34It was time to call in two property experts to see what they made of the transformation.
56:41Paul and Toby had spent £354,500 in total.
56:45So was that wise?
56:49Yeah, the second one time inside the property for myself.
56:52I really like the property.
56:54A lot of renovation work has been carried out,
56:56it's also been extended and finished to a really, really high standard.
56:59The house itself has been done very, very well to a high standard,
57:03so any buyer moving in here has got nothing to do at all.
57:07They had been impressed with the place,
57:09but were Toby and Paul set to make a profit on their investment of £354,500?
57:16If the property was placed on the open market for sale,
57:19I would suggest an asking price of £435,000,
57:22with hopefully a sale price close to that figure.
57:25Currently, if it was going to be put onto the open market,
57:27I would expect it to achieve around £440,000.
57:31That would be fabulous.
57:32If we could achieve something close to that, that would be a good job for us.
57:36So there was a potential profit of around £85,500 before fees and tax.
57:42A good result.
57:43So were there any final thoughts?
57:45If I could have my time again, I'd probably work harder at school,
57:48go 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,
58:04rather than if you come back.
58:08Would you come back on the show, please?
58:09Would I come back on the show on one condition?
58:11We get the script writer to take out all the blue pants.
58:15You'll do well, to be fair.
58:16They're set in stone when we get you on the set in stone.
58:19There's loads more stories where they came from.
58:21I'm pretty sure you'll join us again soon here on Homes Under The Hammer.
58:25Goodbye.
58:25Goodbye.
58:26Goodbye.
58:27Goodbye.
58:28Goodbye.
58:36Goodbye.
58:38Goodbye.
58:41Goodbye.
58:42Goodbye.
58:45Goodbye.
58:47Goodbye.
58:47Goodbye.
58:49Goodbye.
58:50Goodbye.
58:51Goodbye.
58:52Goodbye.
58:53Goodbye.
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