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00:00Hello and welcome to the show now today shows gonna be a little bit different as you can see we've
00:05got boy band royalty
00:07What don't get from blue? I'm a little bit excited today. I've had my blonde bits put in especially for
00:11you, 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
00:23I can't wait because I think our time today hopefully won't fly by too quickly, Dion
00:30Well if you want to see what we've got in store for you today keep watching today's homes under the
00:35hammer
01:01you
01:02Can often find a hidden property gem at auction it could be a home that is a need of a
01:06complete overhaul or maybe it just needs a little bit of
01:09One love oh my gosh can't believe it anyway
01:12I do believe that a lot of these properties need a bit of time spent on them a bit of
01:15money a bit of determination
01:16But 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
02:16Now not every postcode gets its own rom-com welcome 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
02:49It's a great show and yeah, I'm just I was really excited to be here today
02:53So thank you for having me on yeah, it's a pleasure
02:55It's a pleasure this isn't your manner, but I know that you know it quite well tell us about it
02:59What do you know about this area? So it was one of the first areas I moved to when I
03:03came 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 around the corner
03:11from here actually
03:12So this is my old stomping ground. Well, I've got one for you to look at today. I'll tell you
03:16about it when we get a little bit closer
03:18Okay, but you're gonna be surprised. Yeah, 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
03:33the royal borough of Kensington and Chelsea sits in a conservation area
03:38limiting 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-lined street. Well, this is where our
03:59property is
03:59Right now. We've got a one-bed ground-floor flat. Here it is. Yeah, it went to auction with a
04:05guide price of
04:07165,000 pounds. It's not bad is it? I mean here it is here. What's your first impressions? Nice sash
04:12window needs a bit of work
04:13Yeah, best thing I love though. The color of that door. It's a great color. Oh, no blue
04:17He's only gone there, isn't he? Early on as well. I'm talking about Notting Hill the movie. It's a blue
04:22door
04:23I'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
04:34125-year lease, but if major alterations are needed they might need the freeholders approval
04:41So 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? That must be the bathroom.
04:55Okay, so bathroom there. Yeah
04:58Now it's nice high ceilings to be fair. Yeah, but that that 90s light thing's got to go straight
05:03There's no period features you'd expect. There isn't. Yeah. Bit of coving maybe
05:08Ceiling rows maybe would be nice. Those pipes need boxing in. Yeah, absolutely. Well, we've got central heating. At least
05:14you've got a nice radio, yeah?
05:15Which is good. And the sash windows that you mentioned on the outside. Yeah. Single glazed. Ah, noisy.
05:23Noisy. So they have to be changed possibly to keep the same sash style. Style, yeah. But in the double
05:30glazed.
05:30But they have the Notting Hill Carnival here, don't they? So every August you're gonna need that double glazed. Just
05:36you to think about the music. I do like that. I do like that.
05:40I do like that. Not a bad size kitchen.
05:41Okay, it's yeah. It needs ripping out and starting again, doesn't it? So.
05:46Do you, uh, are you a handyman yourself? Do you get involved? I do. Do you know what? I get
05:50really excited about things like ripping out a kitchen, doing a bit of gardening.
05:54You're getting old? I'm getting old, mate. So yeah, I'm looking at things now and thinking, oh, I'll do this
05:59with this, do that with that, but yeah.
06:00By the way, I live up in Liverpool. Okay. Just about to sort out my own house as well. Could
06:04do a bit of help with a new kitchen, a bit of painting.
06:06Yeah, mate. Is that right? I'm your man. Let's go.
06:14Maybe 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, we've got a bit of a studio. What if you put that, the kitchen, and you
06:44brought the kitchen into here, and you have this as like a kitchen living rooms area, and you have that
06:49as the bedroom.
06:50Yes, that becomes... A one bed. A one bed.
06:53This is what this was advertised as. That's very, very good, and that does. However, if it were mine, I'd
06:59want to keep it as a kitchen just for the smells, get those smells outside.
07:02Yeah. Yeah, it would work. Listen, a lot of places nowadays do put the kitchen and the front roof together.
07:08Yeah. Yeah, they do. And, you know, you are cooking where you're sitting, aren't you eating?
07:11I suppose it's too young. Yeah, I 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. So, I suppose that, you know, it works both ways. We're both right.
07:19There you go. I love that one.
07:20I rest my case.
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.
07:32Yo, yo.
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?
07:43I rest my case.
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.
07:59It'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 that buyers and tenants 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.
08:26Kept as a studio. This property should rent for around 1,700 up to 1,800 pounds a month.
08:33And I think it will sell for around 350,000 pounds up to 370,000 pounds.
08:40And 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 bedroom property, this should be marketed at 450,000 pounds and sold for around 425,000
08:56to 430,000 pounds.
08:57I believe this property should rent for around 1,800 to 2,000 pounds a month.
09:03All right, thank you, sir. Thank you very much.
09:06Sun's out. Sun's out, mate. Yeah, sun's out.
09:09So, tell me, this is your first property here. Home's under the hammer.
09:13I'm pretty sure there'll be loads more because you've been pretty good today.
09:16Anyway, what were your thoughts?
09:17Do you know what? It's a small property, but I think it's got a really great investment opportunity.
09:22Rent it out for some decent money.
09:24Wouldn't take too long, would it? No, and it's a lovely area.
09:26Big question is, did they all lie in the auction room? Sorry.
09:30So, I just had to get it out.
09:32Good one, Dion. Yeah, I like that one. It's so bad.
09:34There's so many more, by the way. I'm sure there is.
09:37So many more. What do you think the auction room is like?
09:40Well, let's find out. Let's find out who bought it, how much they paid for it when it went under
09:44the hammer.
09:47This lot was part of a remote auction with bids taking place online.
09:51The third and final time, all done. Sold to the internet.
09:58With a winning bid of £320,000, it was bought by Lurin.
10:03An experienced property developer we've met on the 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.
10:31Lurin, nice to meet you. Nice to meet you.
10:33My partner for today, Duncan from Blue.
10:35Amazing, nice to meet you. Nice to meet you.
10:36You've been on the show before?
10:38Yeah, couple of times.
10:39Couple of times?
10:41Yeah.
10:41Are you obviously still enjoying your property developing journey?
10:44Oh, I love it, yeah.
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, but then I was like, oh, do we, can we actually convert it into a
10:58one bed?
10:58I think that would be a good idea.
11:00Oh, so that's what you want to do? You want to convert it?
11:03Yeah, so we are converting it back to a one bedroom flat.
11:06Yeah, it's alright. That was his idea, by the way. Fair 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, so you're going to make that into the bedroom?
11:16The kitchen into the bedroom, and you're going to turn this into like a living room kitchen space?
11:19Yeah, kitchen space, yeah, yeah.
11:21Okay, is this staying here?
11:23This is what will stay, yeah, it has to stay, yeah.
11:26Okay.
11:27We will close up this one, but behind you, that will be the door going into this space.
11:33Ah, clever.
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?
11:38That's the door, yeah, for the bedroom.
11:39Very clever.
11:40Easily done, well done.
11:41The main reason is because I hear we need a big wardrobe.
11:45Okay.
11:45Yeah, so you have a storage space.
11:48Okay.
11:48And it's good to have the wall space as well, because if you've got lots of wall space, you can
11:51use that wall space.
11:52That's correct, yeah.
11:54Good on you.
11:54What are you going to do to the bathroom area?
11:56Alright, so we will change everything to like a new finish, to like a little bit like more premium,
12:01and like tiling it up, but like the layout will stay as how it is.
12:05So are you going to keep it with a bath, or are you going to just have it as a
12:07shower?
12:08Okay.
12:08At first, we thought about keeping it at the bath, because it gave lots of flexibility.
12:14However, after feedback, we think about maybe being changed to a shower room.
12:17Just a shower room.
12:18Yeah.
12:18I love a bath, though.
12:19What do you think?
12:19I don't mind a bath to me.
12:21Exactly.
12:21I like a bath.
12:22I like a soak.
12:23It's like you lose the opportunity to take a nice bath, like, yeah.
12:28So I said to Dion, I love the sash window.
12:30Any design plans for that?
12:32Are you going to keep that as it is?
12:33Are you going to make it double glazing?
12:35Well, the design is going to be the same, but like we're going to make it double glazed,
12:38because that will improve the EPC reading, which is very important for the buyer.
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.
12:51It 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, so you have to keep the windows in a certain way,
13:00so they're in keeping with their surroundings as well.
13:02Right.
13:02It's a great idea to do that.
13:04What kind of finish, you know, when we come through this door here,
13:07what we're going to see?
13:10Okay, so normally we don't make this much of a colourful flood.
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 car, yeah.
13:27You know this boogie is for me, yeah.
13:34Lewin has plenty of experience to make this place shine.
13:38Alongside 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.
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 sort of period features,
14:12any 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, Lewin.
14:28Yes.
14:28I've got a feeling.
14:29I think you will as well.
14:30So, Lewin, do you get involved with the construction part?
14:34Or do you just leave that to professionals?
14:36I come to the side to cheers.
14:38And at the same time, also, like, I try to check what the quality is, let's say.
14:44Yeah.
14:45Oh, like, because we designed the whole house.
14:47You crack the whip, make sure everyone's doing their job.
14:49Yeah.
14:50Yeah.
14:50He's the boss.
14:51He is, isn't he?
14:52I like that.
14:53I like that.
14:54Listen, good luck.
14:54Yeah.
14:55We wish you all the best.
14:56Oh, thank you very much.
14:57Congratulations.
14:58Thank you, man.
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.
15:09Yep.
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 he's going to work for the market he's looking for as
15:19well.
15:19So, um...
15:20Okay, 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 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.
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 £200,000 to £225,000.
16:16And here it is.
16:19It 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.
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. This 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.
17:56But it's that view. It'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, that might be quite
18:13nice.
18:13And they'll never know, will they? That would be ugly.
18:21The neighbour 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 a trim, the lounge needs to be
18:44modernised, the 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.
18:58What'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 and it's big enough, if you could get planning, to actually
19:19build a separate detached two-bed bungalow and you could also create a driveway there as well.
19:26So, there are options. Would it be worth it? What do they use the house for? What are they going
19:32to 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, speaking to a local councillor
19:45would be a good first step to get a feel for what is possible here.
19:51But what are the thoughts of a property expert? We invited along one from the auction house who sold it
19:57for his thoughts and valuations on this bungalow guided at £200,000 to £225,000.
20:04Here we've got a four-bedroom house. Some of the bedrooms, to me, are a little bit small, two of
20:11them in particular, so I'd almost be tempted to lose one of them and increase the size of the lounge
20:17diner.
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, I think you could be looking somewhere around £400
20:39,000 to £450,000.
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, but 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, if they were then
21:15to build it and resell, I think you're going to be somewhere in that £250,000 to £275,000.
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.
21:57Selling away then. Congratulations.
22:02It was snapped up by property developer Shane for £253,500.
22:10Shane'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.
22:21And you.
22:22Can I say, I love this bungalow. It has a lot of potential for me, and it feels really solid
22:29underfoot.
22:30Let's talk about the auction. Did you visit the property before the auction?
22:34I did, yes.
22:35And did you think? That is a must for me.
22:37Good. Good. And what did you think when you walked in?
22:40I've seen a lot worse, and I've done a lot worse. It's just superficial.
22:45Yeah. There's some quite large cracks, and you can actually feel breeze coming through. Are you worried about that? Have
22:52you got someone to look at that?
22:54I've come across that several times in the past. I will be getting a structural engineer involved. Purely just once
23:01it's signed off, everybody's happy.
23:03Yeah, exactly. And so when you came and visited and you saw the plot at the side, what were your
23:11first thoughts about that?
23:13I've built houses not far from here in Tackleston, just outside of Norwich, that would fit on there. The footprint
23:19of the house would fit on there and still allow a piece of garden.
23:22Yeah. A two bed or one bed or what?
23:24Two bed. I probably won't build it, though. I have done new builds in the past, but I'll probably sell
23:30it.
23:30Very good. Let's come back into the house now itself. What's your thoughts? What are you going to do to
23:36the place? Are you going to change the layout, increase the size?
23:40I'm not going to change the layout. The only thing that I will add to it is an ensuite to
23:44the master bedroom, which 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. Kitchen's a good size, though.
23:58It is a good size, yeah. It 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.
24:11There you go. In the bathroom, it's not really a bathroom, it's a wet room. Are you going to try
24:16and squeeze a bath in there with a shower above?
24:18Yeah, it'll be more like a traditional bathroom than a wet room.
24:22Yes, yeah, which is great. And 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. Who does that? Is that
24:33something you do?
24:34I have a company that come in and do that.
24:35Oh, right, okay. Yeah, and the plumbing as well.
24:38Right. So, is this what you do full-time, Shane?
24:41Yeah.
24:42Is it? Yeah.
24:43Well then, there you go. That's why you're all 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?
24:53I'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.
24:59And then, what about timescale? How soon do you want this on the market, ready to be sold?
25:04I'm hoping for 12 weeks. You don't know until you get started, really.
25:08Yeah. It could end up being 14, 16, but 12 is about right.
25:12Perfect. Well, look, it's definitely fallen into the right hands with you, Shane. That's what I feel.
25:20And 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, and he doesn't seem phased by any of the works that's about to
25:33take 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? 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 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 time sharing
26:22his thoughts on a one-bed leasehold flat guided at £165,000.
26:28Best thing I love, the colour of that door. It's a great colour.
26:31Oh, no. Blue.
26:32He's only gone there, isn't he? Early on as well. Come on, let's have a look.
26:36It 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 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 for.
26:52That's very, very good.
26:54Although I like my kitchen separate, I was outnumbered because the new owner, Luwin, planned to 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?
27:09OK, so this one's got to be quirky.
27:12It's going to be quirky?
27:13Yeah.
27:14And why? Is that because of the area?
27:15Yes, because of the area. You see, like, we will try to be funky in this part of the town.
27:21Yeah.
27:21So how was I to know you just come along?
27:25It's all my life up.
27:27As an experienced developer and designer, Luwin planned to move the kitchen into the living space and give the flat
27:34a 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, Luwin 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 kitchen has 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.
28:25A layout Luwin thinks buyers prefer.
28:28And 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 gym breast.
28:42On the other side, we'll put the fridge.
28:44So 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, your guests,
28:56the bosses,
28:57so you enjoy your time before your bed.
29:01The finishing touches are still to come with furniture from Luwin's own design company set to bring colour and character.
29:09But the bathroom's already making a statement with green marble tiles and modern walk-in 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, yeah.
29:29But now I think they have a bigger space for any functions.
29:34There will be plenty of premium touches too.
29:38Wall-mounted taps, a 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.
29:52The work's been handled by Luwin'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.
30:26So 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.
30:42Apart 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 10k less from the original budget.
30:58So I'm happy with both the program and also the expenditure.
31:06The work has cost Luwin 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 and
31:19find 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.
31:37And 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, Luwin 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.
32:08For the advice the agent gave, it sounds about ride.
32:12And I would be hoping and happy.
32:15I would be hoping to have this figure in the end.
32:19And I'll be happy with the program.
32:22Yeah.
32:23A sale at £475,000 would mean a healthy pre-tax profit of £115,000.
32:30So it's been a successful project for Luwin.
32:33He's more used to taking on larger developments.
32:36But this small and mighty flat might have just won him over.
32:42In the middle of this one, I took around one month holiday.
32:45So 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.
32:54Ho, ho, ho, it's magic.
32:58You know, never believe it's not so.
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 I
33:21started.
33:21Where I was in the village that offered the Quiet Life chocolate box cottages and the village green.
33:27I was in Tilton on the hill in Leicestershire.
33:30And 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.
33:40A stone-built cottage with a guide price of £220,000.
33:45It has three bedrooms and it's beautiful on the outside.
33:48But is it beautiful on the inside?
33:50Let's have a look.
33:55Okay, we've got a small porchway area and right in front, you've got a shower sort of wet room there
34:01and a toilet.
34:02They 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.
34:42So 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,
35:17so there was no need to compromise 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.
35:28So 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.
35:46The garden was peaceful, the setting was ideal and we were lucky with the weather too.
35:51Just 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.
36:08A long corridor, wasted space there.
36:12Into bedroom three, which is not only small, it's a strange shape as well.
36:17Now, 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
37:10that are used 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?
37:24If 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.
38:32276, 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,
39:14and that's pushed us up a bit. So, it puts pressure on us now for the budget and the construction
39:18costs to try and keep that under control.
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...
39:27We're a building company, a single building plant. Couldn't find any at the moment.
39:31They're all overpriced, and so we've looked for a bit of a doer-upper.
39:34There's a new venture for you. It is.
39:36I 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. Yeah.
39:41On 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.
40:13Big 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 does. It takes a lot of time. It does.
40:27We've got an existing garage. We don't know where 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 open-frame garage, if we can afford it. But that isn't... That's looking down for the moment.
40:39Talking of purse strings. Yeah. What'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. So 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. Yes.
40:55On the new build, on the new build, you don't pay VAT. Yeah.
40:57So the tax man will be happy on this one.
41:01Even a decade on, the rules are still in place. New houses or flats built from scratch
41:06may be eligible for zero-rated VAT. And certain alterations made for disability adaptations
41:14can also qualify. Though these didn't apply to Toby and Paul's project here.
41:20The whole building plumbing and electric is replastering. It's a complete shell rebuild, really.
41:25It is, isn't it? A complete overhaul. Yeah. And how long is that going to take you, fingers crossed?
41:30Well, that depends whether it's my decision or the planning office's decision.
41:34If 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. It's a conservation area.
41:41I've got the conservation officer who's going to have to sign off things like
41:44the way we're doing the stonework and the restoring outside of the building.
41:48So that slows right down. What's the best scenario, do you think,
41:51if you're having to wait for planning and...? Within 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. So 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.
42:17We had a couple of big houses we built, lovely houses. Nobody could get a mortgage.
42:22The bank wanted the money back. 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.
42:30It is an important job for us.
42:32Toby and Paul's experience showed just how quickly things can go sideways in property development.
42:39Even 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
43:02to get back what we need. So it's mainly the constraints of the budget. The construction doesn't bother me in
43:07the 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,
43:16and I can understand why he stuck to his guns at auction, but there are a few problems he has
43:21to 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 notes now where Jackie saw this four-bed bungalow with a bonus.
43:45This property also comes with a plot of land to the side.
43:51It's 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? Yeah.
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,
44:35then tried to obtain planning for a new build on the plot of 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.
45:02So that was all scraped back, replaced, and then basically tidied everything up,
45:08re-rendered it where it needed it, painted it.
45:11Its curb appeal has improved dramatically.
45:14Even the garage has seen an exterior upgrade.
45:19And the transformation continues on the inside.
45:25First job is always just to come in and strip everything out,
45:28and then basically the entire house was plastered,
45:31partially re-wired where it needed it, re-decorated.
45:35All the bedrooms have seen a vast improvement,
45:39particularly the mere main bedroom,
45:42where the built-in storage has become a compact en suite.
45:47The areas of damp retreated, coated in sealant and re-plastered,
45:52but that was nothing compared to the blue bedroom.
45:58We had some cracks that we had a structural engineer look at,
46:02so that was a priority to get looked at.
46:06He 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,
46:17reinforcing the brickwork with metal rods to prevent further movement.
46:23The old wet room has been converted into a bathroom with a clean look
46:28that can be seen throughout the house, including in the living room.
46:34I try and go for sort of modern and timeless, neutral colours,
46:39gives people a blank canvas so they can put their own stamp on it if they want to.
46:43It's nice to take something that's old and worn
46:47and give it a new lease of life, ready for its new owners to move in.
46:51Life wants me to breathe in its love.
46:58Desperate for that new lease of life was the kitchen,
47:02which has been completely overhauled with new units,
47:06stylish, handle-less doors 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
47:26to maybe make that, you know, one bigger area.
47:29But with it not being completely parallel, 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,
47:44which has been trimmed down and the patio only done.
47:49Staying outdoors, the plot of land at the side is still a work in progress.
47:54So 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,
48:01but I think I would just sell it on to someone else to deal with.
48:06If Shane secures planning for the new build,
48:09this plot could see a healthy boost in value.
48:12But with most of his time and budget tied up in renovating the bungalow,
48:16has he managed to stick to the original budget of 60 grand?
48:21Still waiting for a few builds to come in,
48:22but it's looking to be about 50 to 55,
48:25which I'm pleased 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,
48:35the work was finished quicker than the planned 12 weeks.
48:40I think it's about nine,
48:42and we have had a few days off here and there,
48:45mainly due to weather, you know,
48:46when we were working on the outside and we couldn't get on the inside
48:49because other trades were in.
48:50But no, it's gone really well.
48:53Coming in below budget and well within his timescale is something Shane should be proud of,
48:59as well as creating a 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, but the flooring in particular I think works really well,
49:41and the standard of finishing the bathroom and the kitchen, yeah, 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,
50:01I think somewhere around £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.
50:27But remember, he's also hoping to sell the plot of land,
50:30which the expert believes could fetch around £80,000, with planning in place for a two-bed bungalow,
50:37given a combined total profit of over £190,000.
50:43So after this job well done, what's next?
50:48I am always looking. I'm looking at another house tomorrow.
50:54I'm actually looking forward to Friday. I'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,
51:05so I'll be there tomorrow until it's finished.
51:12Back 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 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,
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.
51:49Usually 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
52:00was always going to be tricky.
52:02To get our money back, because, you know, we've got to get the money back,
52:06we're going to have to put a modest extension to gain some extra bedrooms
52:09and some extra accommodation space on the ground floor.
52:12Big living kitchen with French doors overlooking the garden,
52:14and then hopefully another one-stroke two bedrooms upstairs.
52:17Assuming the planning permission goes through, which is always an issue.
52:21And takes time, puts time on your...
52:23It takes a lot of time, it does.
52:25Paul and Toby's budget for a two-storey extension was £130,000,
52:31and they expected the work, dependent on planning, to take up to a year.
52:36But when we returned just six months later...
52:40..the 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.
52:51One way or another, I'm gonna see ya.
52:55They extended the kitchen under permitted development,
52:58and 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,
53:40which had been lovingly restored and reinstated.
53:46Upstairs, Paul had found a way to create a family bathroom
53:49by taking a little space from one of the bedrooms.
53:53One 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.
54:23The third and final bedroom still had that quirky angle to it,
54:29but 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.
54:44One way or another.
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 from 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.
55:05And everyone loves an open fire.
55:06Regarding 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.
55:13For example, a lot of lovely beams, timber beams that we've brought back, a lot of exposed stonework
55:17that was covered over that we brought back into the building 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.
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,
55:37making this six and a half month transformation even more impressive.
55:43I could have done it quicker if we throw more labour at the job, but I've done a lot myself
55:47in 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?
56:04We'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 and they'd created a desirable high-end
56:23home.
56:24The plan for the cottage originally was always to sell it as soon as possible to try and get the
56:28funds back so that we can carry on and try and do it again and 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. So was that wise?
56:49Yeah, the second one time inside the property for myself. I really like the property.
56:54A lot of renovation work has been carried out. It's also been extended and finished to a really, really high
56:58standard.
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, but were Toby and Paul set to make a profit on their investment
57:13of £354,500?
57:16If the property was placed on the open market for sale, I 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, I would expect it to achieve around £440
57:30,000.
57:31That would 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 £85,500 before fees and tax. A good result. So were there
57:43any final thoughts?
57:45If I could have my time again, I'd probably work harder at school, 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 if you come back. Would
58:08you come back on the show, please?
58:09Would I come back on the show on one condition? Go on.
58:12We get the script writer to take out all the blue pants.
58:15You'll do well to be fair. They're set in stone when we get you on the set in stone.
58:19There's loads more stories where they came from. I'm pretty sure you'll join us again soon here on Homes Under
58:25The Hammer. Goodbye.
58:25Goodbye.
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