Episode 40 Homes Under the Hammer

Hello, welcome to the programme.

Now, the property varies massively across the whole country.

Sometimes it's difficult to know where, when or, indeed, what to buy.

Yes, there is one place that gives you lots of options, though.

Oh, is that your local auction house, Dion?

-Just might be.

-Why not pop down and buy your next home under the hammer?

Here on Homes Under The Hammer, we always advise

that you look before you leap before you invest in property.

Yes, if you intend to bid on a place,

you should really read the legal pack

and, of course, view the property.

So, did the buyers on today's show get what they were after?

Let's find out.

In North Shields, Tyneside, this flat brings out my romantic side.

Romeo, Romeo, wherefore art thou, Romeo?

Whereas in the West Midlands,

my property date is well past its sell-by date.

It's of a certain era, isn't it?

But for me, in Crewe, Cheshire, it's back to my first love.

Have a look at that. That's my kind of location.

Right on your doorstep.

All these properties have been sold at auction.

We'll find out who bought them and what they paid for them

when they went under the hammer.

Sold to you. Well done, sir.

Newcastle upon Tyne in the north-east of England

has been reinvented over the centuries

from beginnings as a Roman settlement,

then a major player in the coal and shipbuilding industry

and now, along with nearby Gateshead,

it's become an important tourist and cultural centre.

# Beautiful vision... #

Just outside Newcastle city centre is North Shields.

Now, back in the early '80s,

the local authorities here in North Shields had a vision

and that vision was flats, and blocks of flats they built!

But they forgot one thing.

Due to this area's famous coal-mining past,

there's a lot of holes in the ground and, unfortunately, a bit later on,

quite a few of them had to be knocked down again due to subsidence issues.

That's why we always say do your research, people.

# Straight back down

# Come back down

# Straight back down, y'all Straight back down... #

OK, so perhaps this bit of blue-sky thinking

wasn't as successful as the planners hoped,

but there are still plenty of buildings that exist on less shaky ground.

Now, the property I'm here to see - surprise, surprise -

it's a flat and it's right up there.

Now, it's got a lot going for it.

There's a designated parking space right there,

there's two bedrooms and the guide price - just £20,000 plus.

Let's have a look.

Wow!

These really are impressive communal gardens.

Feels like the countryside.

Lovely.

I need a big gulp of fresh air

to get to the top of the four floors here.

Yeah, that's right, there's no lift.

But the good news is there's a 99-year lease

and immediately I've spotted a way

of improving that all-important initial impression.

SQUEAKING

First things first, I think we need to get some oil for this door!

But straight into the hallway and what a pleasant surprise.

It's a great flat, this.

Now, I know there's woodchip wallpaper everywhere,

but we can remedy that.

You've got loads of storage space in there, which is fantastic,

an intercom system so you can greet your guests before you let them in,

a really spacious kitchen.

Now, obviously, that could do with a bit of an upgrade.

You could put something nice and white and bright

and reflective in there

and you could even squeeze in a breakfast bar area,

so you could eat in that kitchen

because, currently, it's just a little bit dated.

And then through into the lounge.

Now, again, you know it's all in really good condition,

but there's something I need to show you, and it's this.

Now, this is a staircase because this is a split-level flat,

which is, in my opinion, fantastic news,

because it just makes it feel so much more spacious.

You've got the bedrooms and the bathroom upstairs.

Although, I'm not sure how safe they would be for kids,

so you'd need to check that out, maybe update them.

But it certainly feels spacious, this flat, and also over here,

you've got windows, in really good nick!

I mean, look!

All this for a guide price of £20,000 plus.

It's feeling like it's a bit of a bargain, this one.

And something that I just love is a Juliet balcony.

Oh, yes!

# How 'bout it? #

Romeo, Romeo, wherefore art thou, Romeo?

It never works out.

I'm just going to have to settle for Martin and Dion instead.

Typical!

# That's just the way it is

# Some things will never change

# That's just the way it is... #

Sorry, boys, you know I love you both really.

But does this flat let me down, as well?

Well, I'm not about to write a sonnet about it,

but I've seen much worse and so no point making much ado about nothing.

With what was an amazing guide price at £20,000 plus,

you could potentially have quite a lot of money left

to turn it around and get it as you like it.

So, at the top of the stairs,

you've got a really good-sized double bedroom in here,

which is fantastic and, again, it just feels really spacious up here.

A family-sized bathroom with a window.

Oh, I'm not quite sure about the colour scheme.

Would we call it mocha, cappuccino?

And more of this glorious woodchip wallpaper

everywhere in this property and it just depends

if you want to keep it or you want to get rid of it.

Another double bedroom with something that's a bit awkward.

What is this?! Well, this is the top of the stairs.

There's not a lot you can do about this, but it's just in the way.

You can't even use it for storage.

Talking of storage, you've got lots more over there, which is fantastic.

A double wardrobe and the best bit for me is the outlook.

You've got all those lovely trees and, beyond that, a cricket pitch,

a football pitch, kids' playgrounds.

This really is fantastic for families.

And it's not just the potential family space on offer here.

It's nice and safe, too.

Something I have noticed is this little secret doorway here.

I was wondering why this is here.

Does it mean that you can creep in and out in the middle of the night?

No, of course it doesn't.

It's a fire escape and if you look out here,

none of the other doors have got handles on,

so you can't really use it, but that really is great for safety measures.

I like that.

With the bedrooms upstairs,

having another exit from the flat is essential

and shows just how well thought-out the layout is.

With two bedrooms, a good-sized lounge, kitchen,

bathroom and that Juliet balcony,

I think this flat has a lot going for it.

But what does a local estate agent think?

It's a really nice flat, a really good size.

I feel it just needs general cosmetic work, a rewire

and maybe a new central heating system.

And once renovated, what market value is possible

for this flat that was guided at £20,000 at auction?

On the open market and sales,

I would estimate probably about £45,000-£50,000,

once all the work had been completed.

And, as if that wasn't encouraging enough,

what about its rental potential?

On the rental market, I feel £380 per calendar month

would be achievable, once the work was done.

Considering where this flat is positioned, all this lovely grass,

you've got two bedrooms and a guide price of just £20,000 plus,

it could be a very shrewd investment for the right person.

Let's see who agreed when it went under the hammer.

So we'll start the sale with lot number 1 in your catalogue.

Ideal investment opportunity or first-time buyer's property.

Two-bedroom maisonette, one reception room,

secure communal block with parking facilities.

Got a new guide at 20, seems a good place to start.

£20,000 am I bid?

15, let's get it away.

At 15,000. 15, here.

At £15,000 and bid now in ones.

Nice and easy. 15 I'm bid.

16 anywhere? 16, 17.

17, I've got. 18, sir.

18. 18, new bid.

19. 19, I've got.

20?

21. 21, 22.

Not sure, here at 21.

Take your half now, sir.

21 and a half, 22.

22, I've got.

Half. You're out.

With you, madam. Been with me all the way then at £22,000.

First time, second time, if we're all done and out.

At £22,000, selling...

Well done, madam.

So, for a great price of £22,000,

the successful bidders for the two-bed flat in North Shields

are Brian and Pat.

This husband and wife team hope to build a portfolio

and this is property number two.

Pat works for the NHS and, unfortunately,

was not able to join us on the day.

So it was left to Brian to tell us more.

-Brian, lovely to meet you.

-Nice to see you, as well.

-Congratulations.

I just want to say one thing to you.

£22,000!

Amazing. Can you believe that?

Cracking little place, it really is.

Yeah, we were well pleased with it.

It's the size of it.

Two bedrooms, you've even got two floors and, OK,

it wants a little bit of work here and there, but nothing major.

We can't do anything structurally, that's part of...

in the deeds and things. So, yeah, just happy, happy we got it.

OK, now, what experience do you have in doing this kind of thing?

Right, well, I've been in the construction industry

-for a very long time, over 20 years.

-Wow.

So I've got my own business, property maintenance business.

-Wow.

-So it's up my street, really.

OK! Right, this is going to be a breeze for you, isn't it?

So I expect tiptop, I expect it to be on budget!

-OK.

-And I expect it to be looking fantastic.

No pressure, then, eh, Brian?

They also have another advantage, as they own a flat nearby,

so they already know what to do for the market here.

They really don't have any excuses.

# No excuses that I know... #

What are you going to do to upgrade the property?

Well, new kitchen, new central heating system definitely.

They're a must. The bathroom.

It's a lovely colour, isn't it?

So I think we've got to get rid of that one.

Would you say it's mocha or cappuccino?

It's definitely brown. Cappuccino, let's go for that.

Sounds more trendy, doesn't it?

So that's going to be upgraded to a white suite?

Yeah, yeah. We're not sure whether we'll put a bath in there.

Maybe a walk-in shower. So we'll see how we go with that.

What about the living room and these stairs, in particular?

We think we're going to get rid of them.

-Put something new in.

-Yeah, yeah, I think so.

Hopefully something a bit more modern.

Obviously it's down to budget, so we'll see what we can get.

So what is the budget?

£7,000.

And along with that £7,000 budget,

they've set themselves a 12-week timescale to complete the work

and get it ready for the rental market.

And with wife, Pat, also being part of the maintenance company,

this will be very much a team effort.

What part will Patricia be playing in this renovation?

Definitely she'll come in and oversee some of the work,

make sure people have put things in the right places, ie, radiators,

fire's got to go, that sort of thing

and she does a lot of picking and choosing fittings.

I sort of come in on the decorating side of things.

I do other things, as well, fit kitchens and that,

but I just haven't got the time for that on this project.

So I'll get trades in to do that.

-Are you too busy...?

-Maybe I'll do some painting, I don't know.

-So are you too busy still working on other people's projects?

-Yeah.

You get paid for doing other people's, but not for your own!

When you're getting paid, it's hard to come away from it.

So that's the way I've got to look at it, I'm afraid.

Ah, well, it's good to see that Brian's got his sensible head on.

Which is a relief,

because I was worried that stardom had gone to his head.

# We're gonna make you a star... #

-I know you're no stranger to TV, Brian.

-Yes.

-And you've been on telly a few times!

-Yes, I have, yes.

Most people remember me from Family Fortunes and Supermarket Sweep.

When Homes Under The Hammer were at the auction,

I did fancy my chances a little bit to be on the show.

So that is another show you can tick off your list, then?

-It is, yeah.

-You've done well, that's three so far!

Well, there is a fourth. I did Peak Practice as well!

My goodness, I'd better watch out for my job!

You'll be doing my job next.

No, I'm quite happy doing the properties, thank you.

Brian, it's been a delight meeting you today.

I think you've got a smashing property here.

-I'm pleased you like it.

-Congratulations,

and I'm really looking forward to seeing

-how you and Patricia turn it around.

-Thank you very much.

-Lovely to meet you.

-You, as well.

-Thank you.

-Thank you.

Property developers, Brian and Patricia, well,

I think they've chosen the perfect flat for their business.

Yes, it does need a fair bit of updating,

but the positive thing is

there's nothing structurally wrong with this property.

So there shouldn't be any nasty hidden surprises.

Will it make his family a fortune?

You can find out what our survey says later on in the programme.

I'm off to West Bromwich in the West Midlands.

The town is famous for its footballing team,

which was actually one of the 12 founding members

of the Football League in 1888.

Like the town, the Baggies, as they're known,

have had their ups and downs over the years,

but are back in the Premier League.

The town has had a revival, too,

with hundreds of millions being invested here in recent years.

Well, close to West Bromwich town centre,

with its fantastic link to the M5 and M6,

is the property I'm here to see.

£140,000-£145,000 was the guide price for this.

It's a three-bed semidetached.

Let's have a look.

# Wanna take a look

# Take a look... #

So what have we got? A little porch there.

Squeaky door. Keeps the noise of the road out, which is good.

And then into quite a pleasant room, actually.

A dual-aspect living room.

I'm looking at this.

It looks like the floorboards have just been left,

cos the carpet's been taken up.

But actually, I know it's a relatively modern house,

but I reckon those floorboards,

even though they're relatively modern,

would actually be really nice if they were cleaned up, so do that.

Doors there through to some fairly newish kind of conservatory thing,

which definitely creates a bit of extra space.

In fact, one of the first things you notice when you come in here,

there is loads and loads of space.

Kitchen. Well, it's a bit tired and dated, you can see by the units,

they're now definitely sort of 1990s.

But it's not a bad size and, of course,

it depends what you're planning to do with the property,

whether you went to the trouble of replacing those.

Nice floor in here, as well, this dining room.

Looks like you've got central heating.

I mean...

Little touches with the windows, back to where we started.

I like houses you can walk round.

All in all, it's really good.

You see, not all auction properties are in a terrible state.

Sometimes, vendors don't want to be stuck in a chain

or they want a really quick sale, for whatever reason,

and you can find gems like this.

So, what have we got up here?

Well, that's nice. A large landing area.

You don't see that very often in these kind of houses,

but it makes a real difference to up here.

Along with that little round window, a nice little touch.

Two bedrooms, a smaller one there.

Bigger one towards the front and then this way...

What's in there? Bit of a radiator...

Radiator, what am I talking about?

I can't open the thing any more!

Boiler. That's the word, yes.

Marvellous. Anyway...

Larger bedroom to the left there

and then through to the piece de resistance - the bathroom.

Again, bit like the kitchen.

It's of a certain era, isn't it?

Possibly not to everyone's taste, possibly you could take it out.

All depends on how much you want to spend on the renovation.

# Now it's all covered with flowers

# You've got it, you've got it

# If this is paradise

# I wish I had a lawnmower

# You've got it, you've got it... #

I think the days of flower power are well and truly over,

but there are a bunch of different options here.

If you haven't bought new tiles before,

you'll find that retiling a room this large can be an expensive job.

If you want to save some cash,

you could just replace the dated loo and sink for something more modern

and, rather than retile, you might get away with

repainting the old tiles with a specialist tile paint.

So everything could be coming up roses.

Well, at the back of the property,

not the most imaginatively laid-out garden.

But, hey, it's a good size, for sure.

Also, right here, it looks like there's been something there

that has been taken down and not replaced.

So maybe there is potential for an extension there

or, certainly, a bigger conservatory would be nice.

But this is the garden. You've got a garage, which is good,

little patio area here.

It could do with a bit of landscape gardening, but apart from that,

it's a good, usable space.

And surely all this space will make it an appealing property purchase.

Let's see what an agent from the auction house who sold it thinks.

First impressions of the property itself -

doesn't really need too much doing to it.

Depends whether you want to extend or not.

The property has got development potential,

both to the side and the rear.

Probably the beneficial one would be the side,

put a new garage with a bedroom above it.

The agent thinks an extension of that size

could cost around £50,000, so a lot of money.

But would that sizeable spend

be reflected in the sales values round here?

Refurbished, without the extension, I would anticipate

achieving something in the region of £165,000 to £175,000.

With an extension, I don't think you would quite hit £200,000.

So maybe just leave that extension,

unless you're planning on living here.

And for the investors, what about the rental market in the area?

Refurbished rental figures,

somewhere in the region of £675 to £700 per calendar month.

Well, a few bits of modernisation to do, but overall,

it's a solid house in a good location.

So let's see who went for it when it went under the hammer.

West Bromwich, lot 79.

Start me at £120,000.

100,000, then, for lot 79,

£100,000. Who's going to jump in?

Thank you, sir. Number 916, £100,000.

105, sir, thank you.

Can I have 110, sir?

110, I bid. 115, then, yeah, 115.

120, now, sir?

The bidding on this property went back and forth

between three keen parties. We rejoin the proceedings at 141,000.

One, 141, 142.

143, sir.

At 142...

I have a 143.

Do the same again.

44, 45, sir.

Have one more. At £144,000.

145, 146?

145 is in the centre.

You're out on the right.

You've won the race, at £145,000 for the first time.

Central bid, 145, for the second and the third time.

You're both out, it's yours, sir.

You've won the race, well done.

145, 299, sir, thank you.

And number 299 was Hinesh.

At just 24 years old, he's getting into the property game early,

which really is quite exciting.

We met to find out why he'd chosen this house to start with.

-Hinesh, great to meet you.

-Nice to meet you, too.

-Congratulations.

-Thank you.

-Tell me why you wanted to buy this house.

It's a medium to long-term investment.

Hopefully we'll get some capital growth

and it's a chance for me to work alongside my dad on a project.

Right. Is your dad a bit of a property...?

He's got a bit of know-how on it,

but I think it's time that I step up to the mark now.

Right, what's your background, then?

-What do you do?

-Well, I've been a Special Constable before...

-Oh, right.

-..for Leicester Police.

-Oh, brilliant.

I've graduated not too long ago, so I've got a new career

-starting in the West Midlands Police soon.

-Oh, brilliant.

-Yeah.

So is this going to be a bit of a sideline, then?

-Will you doing this up in your spare time?

-Very much so, yeah.

I've been interested quite a few years now, so now's my chance.

Right. Why? Why now?

We've just been looking at the auctions lately and this is

the second one we went to. This house just caught my eye

because of the location, it's three bedrooms,

got a side garage, it ticks a lot of boxes.

Yeah, definitely. So tell me what you're going to do to sort it out.

Well, it's got a lot of potential for the interior design

and the exterior, we could have, possibly, an extension

up to the conservatory, there's a garage out there,

which we could move to the front of the house in line.

But for now, I think, because of the demand of the market,

we don't need to renovate it over the top

and I'm sure my dad's going to keep my feet firmly on the ground.

So just a bit of decor.

I think it needs a lick of paint.

Obviously, we'll have to get carpets or laminate in.

Maybe tidy up the kitchen. But hopefully not too many surprises.

What about the bathroom?

The bathroom, some say it's a bit old-fashioned.

Yeah.

But for the rental market, do we really need to do it?

-I'm not too sure.

-Interesting point.

-Maybe you do, maybe you don't.

-Yeah.

So your dad is going to help, is he? Is he going to give you advice?

Yes, he'll give me some advice.

I've got my young apprentices, my younger brother and my cousins.

-Oh, great.

-They'll get their gloves on

and hopefully start painting, as well.

So you're literally going to get your hands dirty and get stuck into it?

Yeah, but we've got a few things

we'll have to leave to the professionals.

-What would that be?

-Maybe some rendering at the back.

-OK.

-We need to rewire the whole house, make sure it's safe.

-Right.

-Few wires hanging out.

Right, definitely something to get professionals in for.

-Yeah.

-What's the budget for the work?

The budget's £5,000, according to my dad.

According to your dad!

Yep, but if I can just extend that slightly, it would be great.

-Down or up?

-Well, hopefully, we'll keep costs to a minimum.

Yeah, yeah. And then, of course, you're going to be renting it out.

Do you know what the rental figures are going to be in this area?

I think over the £600-a-month mark would be quite good.

Right. And is your dad excited about you doing it?

Yeah, we're very much excited, just getting ready

-to start the project as soon as possible now.

-Good.

And he really does need to get going on it because his dad hopes

he'll finish it in two to three months.

But I was intrigued to know why he chose this house

as his maiden property project.

All the research I've done, it seems a very good location.

I think West Brom is quite an upcoming area,

it's increased by a million shoppers this year.

-Oh, wow.

-Across the road, literally, there's a primary school,

so it's very ideal for a small family

and that's the kind of tenants that we want.

Well, do you think this is going to be

the start of something big for you?

Is this going to be number one of a portfolio?

Yeah, I hope so. I hope something on the side that I can do in future.

If this is successful, of course.

-We'll have to wait and see.

-Yeah, good.

-Well, listen, congratulations.

-Thank you.

-Good luck with it.

-Thanks.

-Look forward to seeing how you get on.

-Cheers.

Well, quite a challenge for Hinesh's first property venture.

He's got a good house here, though,

and definitely some good advice from his dad will bear fruit.

How will he get on? You can find out later in the show.

Still to come in Crewe, Cheshire,

there's a house that could be the perfect project.

It wouldn't take too much to turn this around at all.

We return to the West Midlands to find out

how policeman Hinesh enjoys being in charge.

I can use this as a platform to build on in future now.

And it's exciting times.

Just eight miles north-east of Newcastle

is the town of North Shields

and it was here, nestled among pleasant landscape gardens,

that we found a two-bed flat that had me shouting,

if not from the rooftops, then the fourth-floor balcony at least.

Romeo, Romeo, wherefore art thou, Romeo?

OK, well, my plea might have fallen on deaf ears,

but there was actually quite a lot to love about this flat.

It was split level with two good-sized bedrooms

and it was generously proportioned throughout.

Perhaps its most endearing feature

was the guide price of just £20,000 plus.

Well done, madam.

It was bought by husband and wife team Brian and Patricia

for £22,000 as a potential buy-to-let.

With Patricia away, it was Brian who filled me in.

Now, what experience do you have in doing this kind of thing?

Well, I've been in the construction industry for a very long time,

over 20 years. Got my own business, property maintenance business.

-Wow.

-So it's up my street, really.

OK, right, this is going to be a breeze for you, then, isn't it?

So I expect tiptop, I expect it to be on budget.

-OK.

-And I expect it to be looking fantastic.

So, with a budget of £7,000 and a three-month timescale,

with Brian's experience,

this flat really did appear to be a straightforward refurbishment.

# As easy as pie! #

Now, over nine months later,

we're back to see if Brian has done me proud.

Oh, I like that.

Not only is it more sleek and contemporary,

the stairs have been redone to meet current building regulations.

So what else have they done here?

Well, we've had a new kitchen in.

That's some kitchen.

With high spec appliances, it's completely ready to go.

It had woodchip wallpaper before everywhere,

so we had to strip all of that

and with that came plaster falling off the walls,

so we had to have it all reskimmed.

So we've done that.

Upstairs, the two bedrooms are looking good as new.

New bathroom, took the bath out and put a double shower in.

With the flat more likely to appeal to a couple or a single person,

putting in a shower is a great move

and they've really utilised the space to the maximum.

Virtually everything has changed, except the windows.

Yeah.

I think Brian and Patricia have really delivered here

and this is just a flat worthy of praise.

We've had painters and joiners in and plumbers in.

I've done a lot of the manual work.

Obviously, fitting the kitchen.

I've done all the tiling.

So, yeah, I've done quite a bit, actually, probably 65%.

Well, I kept an eye on the budget and spending of it

and also choosing all the different bits and bobs.

But that's all, I didn't really get hands-on

in terms of the actual work.

Patricia works for the NHS,

while Brian runs their property maintenance company,

so they're both busy people

and their full-time jobs meant the flat refurbishment work

had to be moved down the pecking order.

Hence the reason it took three times longer

than they'd originally planned.

The timescale isn't the only thing that's changed.

Originally, we were going to rent it out to somebody that we knew.

However, that plan has changed now.

That person doesn't need to move in.

And because we knew the person,

we put in better quality fittings and a better finish.

So therefore we've decided that, initially, we'll try and sell it.

However, if that doesn't work out,

we can always put it on the rental market after that.

Yeah. I agree.

Did upping that spec mean upping that seven grand budget?

We spent around about £12,000, just under.

And that was due to a few things.

One was replacing the staircase,

which we hadn't put in the budget to start with.

And the plastering, which had to be everywhere,

which we also hadn't completely budgeted for, but we think overall,

with what we've paid for it and what we've spent, it was worth it.

The £12,000 spend on top of their £22,000 purchase price

takes Brian and Patricia's total costs to £34,000.

So has it been worth going the extra mile on the finish here?

What do two local estate agents think?

My first impressions of the property,

it looks really nice, feels homely,

the finish is really good.

Really nice property.

It's been refurbished to a high standard,

with good, clean decorations, nice quality internal finishes

and generally presented to a high standard.

It's a nice layout, having the bedrooms and bathroom on one floor,

and the kitchen and the living space on the ground floor.

The big selling points for this property are the location,

which is in large sort of landscaped grounds,

and the general internal level of finish.

Currently, Brian and Patricia think they'll try and sell the flat,

but have they totally ruled out the rental market?

On the rental market, I would expect the property

to achieve £400 per calendar month.

I believe this property would achieve a rental figure

of £400 per calendar month.

That's pretty much what we thought. Yeah.

That's a whopping yield of just above 14%,

so what about the current resale value

of a flat they've invested £34,000 into?

On the sales market, I would expect the owners to achieve £45,000.

If the property was put on the sales market,

I would suggest that the property should achieve a figure of £45,000.

I think that's a bit low. I think a bit higher than that.

I think saying we'd be guaranteed a sale is probably true,

-but I think we could probably get a bit more than that.

-Yeah.

Brian and Patricia are convinced

that a value nearer the £55,000 mark is achievable.

But even a £45,000 sale price

would mean a pre-tax profit of 11 grand.

So, have the figures changed their mind on what to do with the flat?

-No, I don't think so.

-No, we'll...

-We'll still try and sell it first.

And give it a bit of time on the market

and if it doesn't sell, we will consider the rental.

Well, whichever route they pursue,

it will have worked out well as an investment,

and for Brian, whose TV credits range from appearing

on Supermarket Sweep to Peak Practice,

is this the pinnacle of his career?

Or does he want to increase his profile even more?

# We all want, we want to be famous

# We all want to be on TV... #

Not at the moment. Might try and get on another property...

Homes Under The Hammer again would be good, wouldn't it?

-Yeah.

-See how we progress.

-Yeah.

But, yeah, definitely up for some TV work.

You're on your own with that one.

# We all want, we want to be famous

# We all want to be on TV... #

Crewe in Cheshire is probably best known for being a railway town.

But it's also a home to the car manufacturer Bentley.

Whilst I love my motors,

there's something else that's caught my eye here.

Have a look at that. That's my kind of location.

Right on your doorstep.

In a cul-de-sac, as well, which is fantastic.

Off-street parking, it's just getting better.

And I'm here to see this.

It is a three-bed semidetached

with a guide price of £100,000.

I'm going to have a look.

The open spaces around this property are brilliant.

And having a park like this on your doorstep

couldn't be handier for walking the dog.

My unit, big Frank, would love it here.

It's spot on for the kids, as well, to have a kickabout.

# Sunday in the park

# It's looking good to me, yeah. #

So we've got two doors...

before we get into the property.

A little bit of a porch, which is good,

because the park's only just there

and when you've finished your footy,

you can leave your dirty boots in there.

But you're straight into this lounge area.

Good-size lounge.

You've nearly got floor-to-ceiling window just there.

Yeah, the stairs are in the lounge,

but they don't seem to impose on all the space you've got.

So a really good-size lounge here.

You would have to change the carpets

and completely redecorate throughout.

Into the kitchen area, which looks in pretty good condition.

Kitchen/dining area just here.

You might get away with keeping those cupboard units,

because they look in OK condition.

Through here...

OK, so you can get to the garage

from inside the property, which is good.

And again, you've almost got floor-to-ceiling windows,

with the door going out into the back garden.

I don't mind this at all. Yes, there's a bit of mess

in the whole of this downstairs property, but get rid of that,

it wouldn't take too much to turn this around at all.

This place might look a bit of a mess,

but it's just cosmetic mess and can be sorted quite easily.

More importantly, I don't think you'd have to dig too deep

into your pockets to get this place up to scratch.

Right, let's get upstairs and see what we've got.

Good. OK.

Three bedrooms up here with a bathroom.

Two just here.

Right, they're not great size, but, as like downstairs,

the decor is a little bit dated, but that's easily sorted.

Get it cleaned up, get them looking fresh and clean again.

Here's your family bathroom.

There isn't any bath in there, there's a shower, but no bath.

But I think with a bit of rejigging,

you could squeeze a bathtub in there, no problem.

That would be sorted.

Into the... I would consider this to be the main bedroom.

It's just a bit bigger than the other two.

If you look here, you've got some floorboards coming through here.

You could sand these down, a bit of varnish,

they would be really nice.

This place is just tired.

It needs a clean-up, needs a clear-out.

Apart from that, I'm liking it.

# Oh, Lord, I'm tired

# Tired of living this old way... #

Anyone buying this property will not only have to take into account

how much it's going to cost to refurb,

but how much it's going to cost to clear this place out.

There's a lot of stuff in here.

But how are things outside the back?

So, outside in the back garden,

it isn't the biggest and, as you can see,

it's just full of stuff at the moment.

But it's easy enough to get rid of all this stuff

and have a nice back garden just here.

Now, if you were thinking of extending this house,

you wouldn't really want to come this way,

cos I think you'd be making a small garden even smaller.

So you wouldn't want to do that.

However, you could think about...

..extending here. This is the back of the garage.

You could quite easily do a single-storey extension

or maybe even think about doing a double-storey extension.

But that all depends on what you want to use this house for.

If you want to live in it, it might be viable.

But if you're going to rent it, I'm not sure the figures would add up.

I'd keep it as it is,

cos I think, at the moment, this place isn't too bad.

As a rental, I'd also give some consideration

to maybe just a simple refurb.

You might get away with not replacing the kitchen

or putting a bath in. But if I'd bought it to live in or sell,

I would probably make those changes.

What would a local estate agent who knows the market think

of this three-bed semi, guided at £100,000?

First impressions of the property, I think it needs a major refurb.

I think we're looking at new kitchens, bathrooms,

obviously decor throughout.

And the garden needs maintaining and you could do quite a bit with it.

I think to extend the property,

to go up and give you the extra bathroom, bedroom,

would probably cost maybe £20,000-£25,000.

It probably wouldn't be beneficial to do that for the area,

to be honest with you.

OK, good to get that opinion. So, without an extension,

what does he think it would cost to improve this property?

In my opinion, you could spend probably £10,000-£15,000

to get this property up to a reasonable standard.

With that in mind, let's move on to the valuations. Rental first.

I think a rental figure, once the property is done up,

we would expect it to achieve £595 per calendar month.

How about the resale valuations?

I think, once the property is renovated to a reasonable standard,

we would expect it to achieve £125,000-£130,000.

This is a good, solid, three-bed semi in a great location.

Now, if it was mine, I'd want to change that kitchen

and I'd try and squeeze a bathroom in, but I am nit-picking.

Let's go to the auction and find out who wanted it.

Ladies and gentlemen, it is a three-bed semidetached property.

It has a guide of £100,000.

Let's start this one, then, shall we?

100 anywhere? Who'll take this one at £100,000?

For lot 64, can I say 100?

Can I say 90?

Thank you very much. 90 I have. Can I say 92 anywhere else?

Anybody else here for this one? You are, thank you. 92.

Can I say 94 now?

Yes? Thank you very much. 94, I have. Where are you?

96? 98.

100 now.

I need to see 100... I have it. Thank you.

102. 4?

The bid's £102,000.

I'm looking to you for 104. You're in at 104.

106. 108.

110.

I'll take the 109.

110. 111?

111, either of you?

OK, the bid's right at the very back at £110,000.

Looking to either of my two other bidders for another thousand.

Anybody else want to jump in at this point? Let me know now.

If not, at £110,000, are we all done?

For the first time at 110.

Second time at 110. I'll take a half bid off either of you.

I'll take £110,500.

Let me know in the next two seconds.

If not, for the third and final time, at £110,000.

Are we all done?

You've got it, well done. £110,000.

That successful bid of £110,000 belonged to Andrew.

No stranger to the auction house,

Andrew is an experienced property developer,

with his latest purchase taking his portfolio to 12

in and around the Crewe area.

I met him back at the property to hear his plans.

-Andrew, nice to meet you.

-Nice to meet you.

-Congratulations.

-Thank you very much.

What was it about this property that you liked?

I like the location, with the park, the tree,

a bit of parking at the front.

And the pub that way and the shop that way.

Yes, so you've got everything you need nearby, haven't you?

-Yes.

-Especially with that park.

That's got to be a great selling point.

-It would be if you're a footballer.

-Yes.

Some people said I wasn't a footballer,

-but some people said I was.

-I'm not going to comment on it.

-Exactly!

-I was waiting for your comment.

-No, no.

-But it is great, isn't it?

-Yes, it is.

-It is a great location.

What are your plans for this property?

Well, just getting somebody in to sort the decor out really.

Just to strip it out, clean it up, paint it,

and get it ready to go, really.

I'm not sure what I'm going to do in the bathroom yet,

whether I might put a bath in there.

Probably will. So a bit of work to do there.

-It's a freshen up, isn't it?

-Yeah, just giving it a lick of paint,

spending time on it so it's right and then carpets

and when I do them, I'll put decent carpets in.

So hopefully the person who comes in will sort of think it's OK.

And what are your plans for it once you've done it up?

Just to get it rented.

I won't be selling it on or anything like that.

Just get it rented and...

go and get another one.

This will be added to Andrew's rental portfolio

and he thinks the area is spot-on.

He's hoping that £5,000 and a couple of months

will be enough to turn this place around.

So, will he be doing any of the graft?

In the past, I've always been very much involved with it.

-But the last one, I found quite hard work.

-OK.

It's just with managing the others and other commitments,

so this time I've got somebody coming in.

-In fact, his gear is in here already.

-Oh, is it?

Are you waiting for us to clear out?

No, not particularly, but he's starting next week, he says.

Listen, good luck to you. I wish you all the best.

-Thanks a lot.

-Take care. Pleasure. Pleasure.

So, Andrew is cool, he's confident, he knows what he's doing.

This is property number 12, by the way, so it should be a doddle.

But I think he might need

a little bit more than five grand in his budget.

You can find out how he gets on later in the programme.

So, we've seen what happened with buyer number one,

but we've got two more properties to catch up on.

Yes, how are things shaping up?

Let's check them out.

It was in the West Midlands, the West Bromwich area to be precise,

where we first came across a sizeable three-bedroomed house.

Well positioned for schools and shops, structurally sound,

with a big rear garden. The only thing that was

slightly putting me off was some of the decor.

The bathroom. It's of a certain era, isn't it?

Possibly not to everyone's taste, possibly you could take it out,

but it all depends on how much you want to spend on the renovation.

Don't get me wrong, I like flowers.

I just prefer mine in the garden.

So this house needed some freshening up to make it bloom again.

It was bought for £145,000 by budding property developer Hinesh.

But he was really hoping that this house

wasn't going to steal too much of his time.

I've got a new career starting in the West Midlands Police soon.

-Brilliant.

-Yeah.

-So is this going to be a bit of a sideline, then?

-You're going to do this up in your spare time?

-Very much so, yeah.

I've been interested quite a few years now and it's a chance for me

to work alongside my dad on a project.

Right. Is your dad a bit of a property developer?

He's got a bit of know-how on it,

but I think it's time that I step up to the mark now.

And Hinesh was going to have his work cut out to make this shine

with a £5,000 budget and a three-month timescale.

And just over six months later, we're back.

# Hey, I'll be fine

# I'll make it on my own

# Hey, I'll be fine

# I'll make it on my own... #

Found this electric fireplace online at a good price.

I thought it would add some warmth into the room

and just a nice feature, really.

This beautiful laminate flooring is semi-gloss for a walnut effect.

I shopped around for this particular one

and got it at a really good price.

I do like that floor, and the kitchen has got a new gas hob

and I suppose that was all that was really needed.

Upstairs, Hinesh has put in new carpets

to give it a more welcoming feel.

I do have to say I'm a little disappointed

to still see that animal wallpaper up in the bedroom.

And the bathroom?

Flowery as ever, I'm afraid.

So what was the thought process

behind the changes he did make and those he didn't?

Budget-wise, it was very difficult to stick to a tight budget

and it was really tempting

to just overspend on accessories and all sorts of things.

And in one of the bedrooms

there was a leak coming through from the roof.

We've had to fix that, as well.

Fixing the roof meant bringing in builders

and with that tight budget set by his dad,

Hinesh had to make compromises, so maybe it wasn't all that surprising

that the bathroom suite wasn't changed.

And the bedrooms?

Well, I suppose any tenant could decorate them to their own taste.

And with his new job in the police force,

Hinesh has been stretched for time here, so did he have any help?

I did a lot of the painting, my dad helped out everywhere,

my brother and my cousin, they had an intense work-out in the garden,

front and back. It makes a big difference when everyone helps you.

Especially when it's my first property.

Yes, teamwork makes the dream work, as they say.

Not only that, it helps keep the costs down.

According to my calculations, we've spent £5,991 precisely.

Just under a £6,000 spend on top of the 145,000 purchase price

takes Hinesh's costs to just below £151,000.

So, has he made the right decision for the refurbishment of this house?

What do two local estate agents think?

I like the layout of the property, because it's very family friendly.

You've got the separate lounge, you've got dining,

if you wanted dining, to the front of the property,

then you've got the kitchen at the back and the conservatory, as well,

which is a nice additional room to have on a ground floor.

The standard of finish at the property, I believe,

is an OK standard,

but I think, if a bit more time and money was spent,

then it would have helped the value a bit more.

The standard of finish, I think, really, if I'm honest,

it could have been a little bit better than what it is.

Yes, the flooring has been nicely fitted,

but I do think it would have been beneficial

to refurbish the bathroom, make that nice and modern,

pretty much in theme with the kitchen

and then one of the bedrooms has a children's theme in,

but really, I think it would have been better off

being redecorated and kept neutral.

Yes, that may be so, but by Hinesh keeping his budget to below £6,000,

it's kept his total spend down to £151,000

and that might be the difference between a profit and a loss.

I would look to put this property back onto the market for £159,500.

And I would look to let this property out at a rental figure

of £625 per calendar month.

I would say that the current resale value for the property

would be £160,000

and the current rental value is £575 per calendar month.

The sales figures there I think are a bit on the low side.

Rental, as well.

Currently, we've got a lot of interest on £700 per calendar month.

This was always going to be a rental property

and Hinesh has actually managed to find a tenant

willing to pay £725 a month,

which means that this place does stack up as a good investment.

This was Hinesh's first chance

to be in sole control of a property refurbishment,

so how does he reflect on the experience?

It's been a fantastic experience for me.

It's been a learning curve.

I've learnt a lot off my dad,

off builders and just the whole experience of property development.

And I can use this as a platform to build on in future now.

And it's exciting times.

It was in Crewe in Cheshire

where I first came across this three-bed semi,

and for those who like green spaces on their doorstep,

this was the perfect property.

This relatively modern house had central heating, fitted kitchen,

double glazing, reasonable shower room, but no bath.

Its only real issue was...

This place is just tired. Needs a clean-up, need a clear-out.

Apart from that, I'm liking it.

It was bought at auction for £110,000

by property developer Andrew,

who felt he could give it the wake-up call it so badly needed.

What are your plans for this property?

Well, just getting somebody in.

They're going to sort the decor out, really, just strip it out,

clean it up, paint it and get it ready to go, really.

And having refurbished 12 properties recently,

Andrew was feeling a bit jaded himself.

So he decided with this property to contract most of the work out.

He was hoping to get it done on a five-grand budget

and in a two-month timescale.

Now, just six weeks later, we're back.

So has this house now risen from its slumber?

RINGS DOORBELL

# Wake me up when it's all over

# When I'm wiser and I'm older

# All this time I was finding myself

# And I didn't know I was lost... #

The lounge was just a mess.

It needed sorting out.

There wasn't a fire in there.

It needed painting. There was cracks in the wall.

So we filled all of the cracks, painted it, and replaced the fire.

With the kitchen already in pretty good nick,

Andrew decided that a good tidy-up, a new hob and extractor

was all that was needed.

Judging by the end result, I think he might be right.

He used a similar approach when tackling the bathroom.

In the bathroom, I decided not to put a bath in.

We measured up for it, it didn't fit very well.

The shower that was in there was good, so I thought I'd stay with it.

Well, there was only a shower there in the first place,

so it does make sense.

But I've got to say, I do like a soak in the bath myself,

especially after I've had a kick-about,

even though that doesn't happen very often now.

Not with my dodgy knees.

The bedrooms are as you would expect -

clean, fresh and good to go.

In the garden, I've just generally strimmed, cleaned up a bit,

cut some of the branches down.

And really left it at that, to see what somebody wants to do with it.

Yes, the garden is still a little scruffy,

but I don't think it's enough to put off potential tenants.

So it looks like this was all pretty straightforward.

The biggest challenges with the renovation was the garage roof,

which was asbestos,

which is OK as long as it's left and not messed with.

But when we started to inspect it,

there was some of the flashing had come away from the side of the roof

and the asbestos was cracked in quite a few places.

So we decided the best thing to do

was to take it off and put a new roof on.

Getting rid of the asbestos was exactly the right thing to do.

The removal of it does require a high standard of safety procedure

and equipment in order to protect people from lung disease.

# In the danger zone... #

So make sure you get an approved contractor

and this, of course, doesn't come cheap.

Talking of money, does this affect the proposed five-grand budget?

I ended up spending £8,700.

The main reasons for that going up is the garage roof

and some problems with the electrics.

An £8,700 spend on top of his £110,000 purchase price

takes Andrew's total cost to £118,700.

So will this now tidy three-bed semi be right for the local market?

Let's ask two local experts what they think.

This is the second time I've visited the property.

It's a bit different from the first time I came along.

They've made some nice changes and I think, overall,

everything is quite positive.

I think the standard of finish is good.

I think it's the sort of thing that people will look at

and like what's been done to it.

It's neutral decor, neutral carpets,

which again is what most people want.

I think overall, yeah, it's a good finish.

I think the selling points for this property

would be firstly its location.

It's in a nice little cul-de-sac,

opposite the green playing fields and close to quite a few utilities.

Possibly the bathroom, not having a bath in, just having a shower,

that will possibly put off some people,

maybe young families with small children but, other than that,

I don't think there's any other negatives at all.

Andrew wants to add this house to his rental portfolio.

But has he added value to his investment of £118,700?

I think, if this property went for sale on the open market,

we would expect it to achieve around about £135,000.

If I was going to put this on the market for sale,

I would expect it to achieve around £135,000.

Yeah, that's fine.

It might get slightly more, if I was going to sell it,

but I'm not going to sell it, so it's not really that important.

So, around about £16,000 pre-tax profit is not for him.

He'd rather see it bring in an income for the long-term.

If the property came to the rental market,

we would expect it to achieve £625-£650 per calendar month.

If I put this property on the market for rental,

I would expect it to achieve £650 per calendar month.

I think, if you look at the market and you look round Crewe,

and you want something in this good condition

in an area like this, right opposite the playing fields,

you might find something.

But I think I'll get more than that, to be quite frank.

In fact, Andrew thinks he might get rental values in the region of

£750-£800 per calendar month.

Even that value of £650 per calendar month

would see a yield of more than 6.5%, which is solid enough.

So he can tick this off as another successful project.

But does he have any advice

for those wishing to try their hand at property development?

There is a temptation, when you're doing it,

to do it perhaps slightly worse than your own house

and my advice would be, make sure it's better than your own house.

Well, that's it for today's auction stories,

but they certainly don't end there.

Oh, yes. There are countless more to show you all around the country.

Yes, we'll see you soon for more Homes Under The Hammer.

-Goodbye.

-Goodbye.

-Goodbye.