0:00:26 > 0:00:29Hello and welcome to the best of Homes Under The Hammer!
0:00:29 > 0:00:32Yes, we're taking a trip down memory lane.
0:00:32 > 0:00:34Today, we've got two of the more interesting properties
0:00:34 > 0:00:35to show you again.
0:00:35 > 0:00:38Yes, a glimpse into the Hammer archive!
0:00:38 > 0:00:43What was memorable about this top-floor flat in Eastbourne?
0:00:43 > 0:00:45Certainly not the architecture!
0:00:48 > 0:00:54And in Devon, this old shack wouldn't win any design awards, either.
0:00:54 > 0:00:55But things were about to change.
0:01:00 > 0:01:03We think these are two of our best stories from the first few series.
0:01:03 > 0:01:07Here's what happened when they went under the hammer.
0:01:13 > 0:01:19The Swinging Sixties was a time of musical awakening but unfortunately not for architecture,
0:01:19 > 0:01:23as our next property in the seaside town of Eastbourne in Sussex aptly demonstrates.
0:01:26 > 0:01:32If you look behind me you'll see an ugly, Sixties purpose-built block.
0:01:32 > 0:01:36I've come to look at a flat on the 4th floor, but it has got a lift.
0:01:36 > 0:01:40The good news is, there's scaffolding up outside, which means they're up grading
0:01:40 > 0:01:47the property and let's face it - a lick of paint could work wonders for this lacklustre building.
0:01:47 > 0:01:51# Once I had a dream that made me sad
0:01:53 > 0:01:55# How so many people
0:01:55 > 0:01:58# Can be bad... #
0:01:58 > 0:02:04It may be lacklustre, but it's located in one of Eastbourne's most desirable areas
0:02:04 > 0:02:10so it's quite sought-after and a top flat with a guide price of 70,000 isn't that bad,
0:02:10 > 0:02:13so let's go up and have a look round.
0:02:13 > 0:02:17Well, if you're a bit claustrophobic about lifts, you've got four flights
0:02:17 > 0:02:20of stairs to climb, so you'd better be fit.
0:02:20 > 0:02:22Now, this is a rather large hallway.
0:02:22 > 0:02:24All the rooms lead off of here.
0:02:24 > 0:02:27The first thing I notice is the Sixties detailing.
0:02:27 > 0:02:35We've got this wonderful lampshade here, some groovy panelling down here, this lovely bobbled glass
0:02:35 > 0:02:38and look at this - this chunky old phone intercom.
0:02:38 > 0:02:44You've probably seen lots of these in properties this age, but you won't have seen one of these.
0:02:44 > 0:02:49Now look at this. It's not a trendy coat hook, it's our rubbish chute -
0:02:49 > 0:02:51perfect for a 4th floor flat.
0:02:52 > 0:02:59The sitting room is a good size with a wonderful view to distract you from those awful lampshades.
0:02:59 > 0:03:03But just look at this shiny electric fire.
0:03:03 > 0:03:07Very Sixties, but on reflection, I'd get rid.
0:03:07 > 0:03:11The bathroom is also very dated, but again, a good size and like the rest
0:03:11 > 0:03:14of the flat, it's a case of out with the old and in with the new.
0:03:14 > 0:03:19What you lack in character with these properties, you certainly gain in space.
0:03:19 > 0:03:22All the rooms in this flat are huge and if you look behind here, look,
0:03:22 > 0:03:27in this wardrobe, you've got at least another two foot in both of those.
0:03:27 > 0:03:30Now, all the rooms have got brand-new double glazing, but sadly,
0:03:30 > 0:03:32there's no central heating in the flat.
0:03:32 > 0:03:35Just these old electric storage heaters.
0:03:35 > 0:03:41Aside from the lack of gas, this flat has lots of potential, but what I haven't mentioned
0:03:41 > 0:03:47is the flat only has 51 years left on the lease, meaning obtaining a mortgage could be difficult.
0:03:47 > 0:03:53With a guide price of 70,000, there's good profit to be made on this retro property.
0:03:53 > 0:03:56Let's find out what happens when it goes under the hammer.
0:04:03 > 0:04:06Lot 38. 60,000 anywhere?
0:04:06 > 0:04:08I've had good interest in this.
0:04:08 > 0:04:10£60,000.
0:04:10 > 0:04:13Can't do it without you, ladies and gentlemen. The gentleman at the back.
0:04:13 > 0:04:15I have 60, thank you.
0:04:15 > 0:04:17Now looking for 61,000.
0:04:17 > 0:04:21Need a second bidder at 61,000. Thank you, gentlemen towards the front.
0:04:21 > 0:04:2462? 62 at the rear.
0:04:24 > 0:04:2663.
0:04:26 > 0:04:2963 I have. 64?
0:04:29 > 0:04:3064 at the back.
0:04:30 > 0:04:3365? 65.
0:04:33 > 0:04:3566? 66.
0:04:35 > 0:04:3767?
0:04:37 > 0:04:40No, he is saying no. I have £66,000.
0:04:40 > 0:04:43I'm looking for a new bidder to come in at 67.
0:04:43 > 0:04:4566 I have. I'm looking for 60...
0:04:45 > 0:04:5067? 67. We have the new bidder. 68?
0:04:50 > 0:04:5368 is bid. 69? 69 I have. Thank you.
0:04:53 > 0:04:58Make it 70? 70 I have, back left. 71? Shaking their head.
0:04:58 > 0:05:02I have 70 at the back and I will be selling, ladies and gentlemen.
0:05:02 > 0:05:04£70,000 I have.
0:05:04 > 0:05:06Make no mistake, I'll sell.
0:05:06 > 0:05:0970 thou... New bidder to the left.
0:05:09 > 0:05:1371. 72? 72 at the back.
0:05:13 > 0:05:1573? No, he's saying no.
0:05:15 > 0:05:1972 I have and the same warning. I'll be selling, ladies and gentlemen.
0:05:19 > 0:05:23£72,000 for the first time,
0:05:23 > 0:05:30£72,000 for the second, 72, are you all done for the third and final time? Sold.
0:05:30 > 0:05:36For just £2,000 over the guide price, the new owner of Southfields Court is David.
0:05:36 > 0:05:41I met him back at the property to hear about his plans for the flat.
0:05:41 > 0:05:44- David, congratulations.- Thank you. - Guide price 70,000.
0:05:44 > 0:05:47- You bought it for 72. - Just over, yes, that's right.
0:05:47 > 0:05:49- Are you a property developer? - I am now, yes.
0:05:49 > 0:05:51I do it all the time. I have to.
0:05:51 > 0:05:53You say you are now. What did you used to do?
0:05:53 > 0:05:57I used to be a press photographer, chasing around for everyone else.
0:05:57 > 0:05:59Now I get everyone chasing around for me, so it's quite nice.
0:05:59 > 0:06:02- Why did you want this property? - This one?
0:06:02 > 0:06:04I'm not particularly interested in purpose-built flats.
0:06:04 > 0:06:10I came in the door, looked around and I thought it was a spacious place and I was taken with it.
0:06:10 > 0:06:13I'm going to put most of the impact into the kitchen and decoration,
0:06:13 > 0:06:18- flooring, and a bathroom makeover. - But it's impact that you after?
0:06:18 > 0:06:21Impact in the kitchen and the initial impact when you come in the hallway, yes.
0:06:21 > 0:06:26So who is going to do all your work for you? Have you got a team of builders?
0:06:26 > 0:06:30Yes, I have a team of makeover people. My wife and her best friend,
0:06:30 > 0:06:33and they do a very good job.
0:06:33 > 0:06:37- Really?- I'm really looking to them to get the wow factor into here.
0:06:37 > 0:06:45And the Cagney and Lacey of the interior design world are David's wife Jane and her friend Leonie.
0:06:46 > 0:06:52And they've already started their detective work on what colours and styles they want to track down.
0:06:52 > 0:06:56Jane and Leonie, it's great to meet you. I've been talking to David.
0:06:56 > 0:06:59You've got grand plans for this flat, haven't you?
0:06:59 > 0:07:02David wants some wow factor, so I don't know how we're going to do it.
0:07:02 > 0:07:04No, but we're going to rise to the challenge.
0:07:04 > 0:07:11- Now, what David wants and what David gets are two different things? - Well, yes, I think so.
0:07:11 > 0:07:14Often a disagreement about the exact technicalities
0:07:14 > 0:07:18of how it'll look at the end, but we've got a fairly good idea as to what we're going to do.
0:07:18 > 0:07:21- We know what we'd like in the bathroom.- OK.
0:07:21 > 0:07:23And we know what David wants in the bathroom.
0:07:23 > 0:07:25I think we need to look at the bathroom seriously.
0:07:25 > 0:07:30We could spend a lot of money in there. I think the bath as it is will do OK, but we need to add a shower.
0:07:30 > 0:07:34- So you'd like to keep the bath? You can save some money there? - I think we can.
0:07:34 > 0:07:40So David would like to save some money by keeping the bathroom suite, but what do the girls think?
0:07:40 > 0:07:44He actually wants to keep the bath, which is a bit old and grim,
0:07:44 > 0:07:49and he wants to put the shower at the wrong end, so we've got to talk him round to our way of thinking.
0:07:49 > 0:07:52- So what's your way of thinking? - A whole new suite. New bath as well.
0:07:52 > 0:07:56So how much do you think you're looking at spending on this place?
0:07:56 > 0:08:00One, two, three, four... £5,000?
0:08:00 > 0:08:04We look for good bargains and we spend time considering what's going to be the best value.
0:08:04 > 0:08:07I know you've got some fab stuff with you today.
0:08:07 > 0:08:09I particularly like this.
0:08:09 > 0:08:12You were saying this is the flooring that you want.
0:08:12 > 0:08:16We see a nice maple kitchen, perhaps with modern stainless-steel handles
0:08:16 > 0:08:19and we've got some doors which we're weighing up.
0:08:19 > 0:08:21We were deciding which one.
0:08:21 > 0:08:24We thought it will be quite nice, all close and matching.
0:08:24 > 0:08:28See, that will look fantastic in here. Really light reflective.
0:08:28 > 0:08:33- That's right.- Fabulous. But all this for three, four, £5,000?
0:08:33 > 0:08:35- Oh, yeah.- It can be done.
0:08:35 > 0:08:41Well, they're certainly confident, but will they be able to transform this flat for five grand?
0:08:41 > 0:08:44We'll be back to check on their progress later in the show.
0:08:48 > 0:08:51# In the summertime When the weather is high... #
0:08:51 > 0:08:56Summertime in the West Country is like a magnet for people all over the UK.
0:08:56 > 0:08:59But I've come to Teignmouth, in Devon, out of season
0:08:59 > 0:09:03when the crowds have gone but the charm remains.
0:09:07 > 0:09:12Well, lot number 20 isn't some pretty cottage or seafront dwelling,
0:09:12 > 0:09:15it's a single-storey workshop or boat store.
0:09:15 > 0:09:17But if you're looking for storage space
0:09:17 > 0:09:19a stone's throw from the town centre,
0:09:19 > 0:09:25then the £19,000 guide price could make it very good value indeed.
0:09:26 > 0:09:28This building is a single storey
0:09:28 > 0:09:32and was last used in the 1970s for storage.
0:09:32 > 0:09:35And it hasn't been touched since then.
0:09:37 > 0:09:40There's not a lot to show you, really.
0:09:40 > 0:09:42It is what it says on the tin -
0:09:42 > 0:09:44an open space, a storage area, a workshop,
0:09:44 > 0:09:46whatever you want to call it.
0:09:46 > 0:09:47Not in very good condition.
0:09:47 > 0:09:50The walls, basically, falling to pieces.
0:09:50 > 0:09:52The roof, as you can see, leaking.
0:09:52 > 0:09:55But the key thing about this is, it's 11 metres by 4 metres.
0:09:55 > 0:09:58That is a reasonably-sized space
0:09:58 > 0:10:01in a town where space is at an absolute premium,
0:10:01 > 0:10:04and that is the intrinsic value of this place.
0:10:04 > 0:10:08# Catch a falling star and put it in your pocket
0:10:08 > 0:10:11# Never let it fade away. #
0:10:11 > 0:10:15I'm keen to find out the history of this falling star in Sun Lane
0:10:15 > 0:10:17so I invited along a local expert.
0:10:17 > 0:10:20Do buildings like this come up for sale very often?
0:10:20 > 0:10:25We get very few properties like this coming onto the market in Teignmouth
0:10:25 > 0:10:28and whether it's garaging or warehousing
0:10:28 > 0:10:30or boat stores, in this case,
0:10:30 > 0:10:32it's nice to get your hands on something like this.
0:10:32 > 0:10:35We've got lots of little streets.
0:10:35 > 0:10:39Has that meant things like garages are pretty much few and far between?
0:10:39 > 0:10:43Yes. That's right. Lots of houses don't have any parking or gardens
0:10:43 > 0:10:46or storage areas, so when something like this comes on the market,
0:10:46 > 0:10:48everybody's interested.
0:10:48 > 0:10:53Any speculator who bought this at auction would obviously be planning
0:10:53 > 0:10:56or hoping to change the use of the building.
0:10:56 > 0:10:59But would that be a feasible option?
0:10:59 > 0:11:03- The fact that there used to be a cottage on this hundreds of years ago...- Did there?
0:11:03 > 0:11:07Yes, that's right. It was condemned around 1962,
0:11:07 > 0:11:11and therefore pulled down and then made into a warehouse,
0:11:11 > 0:11:16that could've set a precedent that there might be possibilities of putting something back up on it.
0:11:16 > 0:11:19It certainly needs a lot of work,
0:11:19 > 0:11:23but could this be the dawn of a new beginning for this shed in Sun Lane?
0:11:23 > 0:11:26Let's find out as it goes under the hammer.
0:11:30 > 0:11:32So, 9A Sun Lane. It's a store.
0:11:32 > 0:11:36It had consent for a store and electrical workshop in the '60s.
0:11:38 > 0:11:41So, who's going to say to us, it's 25?
0:11:41 > 0:11:45What can you get? £25,000? Nice and simple. 25.
0:11:45 > 0:11:47Young man, 25.
0:11:47 > 0:11:4925. 25. Half if it will help.
0:11:49 > 0:11:51At 25.5.
0:11:51 > 0:11:54At 25.5 on my right. I'll look out again.
0:11:54 > 0:11:57At 25.5 on my right. 26.
0:11:57 > 0:12:00It needs to be a half now, in the middle. 26.5?
0:12:00 > 0:12:0426.5. 27. 27.5. Looking for 28 somewhere.
0:12:04 > 0:12:07At 27.5. I've got 28.
0:12:07 > 0:12:09At 28. 28.5?
0:12:09 > 0:12:1328.5. 29. 29.
0:12:13 > 0:12:1629.5. At 29.5, I'm going to ask it.
0:12:16 > 0:12:1730 I've got.
0:12:17 > 0:12:20I've got to ask you for a half. 30.5 I've got.
0:12:20 > 0:12:22OK. 31.
0:12:22 > 0:12:26At 31. 31.5. 32.
0:12:26 > 0:12:29At 32. At 32.5.
0:12:29 > 0:12:3133. 33 I have in blue.
0:12:31 > 0:12:33That's 33. 33.5.
0:12:33 > 0:12:3734. At 34 I've got. Half maybe.
0:12:37 > 0:12:3934 I've got.
0:12:39 > 0:12:4035. At 35.
0:12:40 > 0:12:4536. 36. At £36,000 then.
0:12:45 > 0:12:48At £36,000 once.
0:12:48 > 0:12:51Middle it is. 36 second time.
0:12:51 > 0:12:5336,000 third and last time.
0:12:53 > 0:12:56Going to be sold now at £36,000.
0:12:56 > 0:13:00Sir, well done. Second row back in the denim shirt.
0:13:00 > 0:13:04The successful bidder for our shed in Sun Lane, Teignmouth, is Ken.
0:13:04 > 0:13:08It's a great buy for him because he lives directly opposite.
0:13:08 > 0:13:10He's an ex-boxer from London
0:13:10 > 0:13:15and he's hoping this won't turn out to be a ROCKY investment.
0:13:15 > 0:13:18MUSIC: "Eye Of The Tiger" by Survivor
0:13:18 > 0:13:21I met up with him to find out about his plans.
0:13:21 > 0:13:22- Lovely to meet you.- Thanks.
0:13:22 > 0:13:25Congratulations. You've got yourself a shed.
0:13:25 > 0:13:27A barn, that's what it is to me.
0:13:27 > 0:13:29- You're going to call it a barn. - Yeah.
0:13:29 > 0:13:32- Why have you bought this? - To make it into a boxing gymnasium.
0:13:32 > 0:13:35- Sorry?- To make it into a boxing gymnasium.
0:13:35 > 0:13:39- How much boxing goes on these days? - Not as much as there used to be
0:13:39 > 0:13:42but there's still plenty of boys who want to train.
0:13:42 > 0:13:44Teignmouth had a good boxing club once.
0:13:44 > 0:13:46Henry Cooper came down and opened it.
0:13:46 > 0:13:48It ran for a few years and it finished.
0:13:48 > 0:13:51I've been here for years and I've been trying to open another one.
0:13:51 > 0:13:55- This place came along, I bought it. - To turn it into a boxing club.
0:13:55 > 0:13:59- That's right.- If I'd put money on what it would end up being, it wouldn't have been that!
0:13:59 > 0:14:04- Tell me about yourself, then. - I used to fight a few years ago, when a younger man.
0:14:04 > 0:14:09I started fighting professionally in 1949 through to 1954.
0:14:09 > 0:14:13I had 35 fights, lost six - six I want to forget.
0:14:13 > 0:14:16MARTIN LAUGHS Yeah, I mean...
0:14:16 > 0:14:18# In the clearing stands a boxer
0:14:18 > 0:14:21# And a fighter by his trade And he carries... #
0:14:21 > 0:14:25After he retired, Ken and his wife Linda moved to Teignmouth
0:14:25 > 0:14:27and now live in the house opposite.
0:14:27 > 0:14:30Ken has had his eye on this building for years,
0:14:30 > 0:14:33but it's been used for storage and wasn't for sale.
0:14:33 > 0:14:36All the work needed to get this place up and running
0:14:36 > 0:14:38is going to keep Ken very busy.
0:14:38 > 0:14:43I wondered what his wife Linda thought about the whole project.
0:14:43 > 0:14:46Well, I've got to take a deep breath and think about it hard and, well...
0:14:46 > 0:14:49you have to go with the flow, don't you?
0:14:49 > 0:14:52If that's what he wants to do, I'll back him to the hilt.
0:14:52 > 0:14:55Were you surprised when it came up for auction?
0:14:55 > 0:14:58Yeah. We've been trying to buy it for several years
0:14:58 > 0:15:00and when it came up for auction he went along
0:15:00 > 0:15:02and when he came home and told me the price,
0:15:02 > 0:15:05after I picked myself up off the floor...
0:15:05 > 0:15:06SHE LAUGHS
0:15:06 > 0:15:09She said, "How much did you pay for it?" I said, "Too much."
0:15:09 > 0:15:13B-B-Bang. Hit me on the chin. BOTH LAUGH
0:15:13 > 0:15:15- Cos you knew how to take the punch. - Oh, definitely.
0:15:15 > 0:15:18There's a lot of work for Ken to crack on with.
0:15:18 > 0:15:22- How long does he think it will take? - It's really hard to put...
0:15:22 > 0:15:24If I could put a date and say...
0:15:24 > 0:15:29Four months' time. I think I'd be lucky if... I want to try and cut it down to six months.
0:15:29 > 0:15:32There's no pressure on me. No pressure.
0:15:32 > 0:15:35I've got it and now all I've gotta do is just get it together.
0:15:35 > 0:15:40- Can we return in a few months and see how you're going?- Pleased to see you whenever you come back.
0:15:40 > 0:15:44It's a fantastic end to the story. Lovely to meet you.
0:15:44 > 0:15:47# Eye of the tiger... #
0:15:47 > 0:15:49We'll be back later in the programme
0:15:49 > 0:15:52to discover how many young Rockys have been signed up
0:15:52 > 0:15:55to Ken's boxing academy in Teignmouth.
0:16:00 > 0:16:03Well, we gave our buyers the chance to do some work
0:16:03 > 0:16:06before we went back for a second look.
0:16:06 > 0:16:08Yes. And they certainly didn't disappoint us.
0:16:08 > 0:16:09Here's what happened.
0:16:10 > 0:16:18Southfields Court in Sussex was bought for £72,000 by photographer turned property developer David.
0:16:18 > 0:16:24He planned to renovate this '60s-style flat with his wife Jane and her friend Leonie.
0:16:24 > 0:16:29So after a few weeks, is this place ready for its close up?
0:16:29 > 0:16:32It's four weeks to the day since you came last time.
0:16:32 > 0:16:35The transformation is amazing.
0:16:35 > 0:16:37It's just now ready for letting.
0:16:37 > 0:16:40Whoever walks in hopefully has nothing to do
0:16:40 > 0:16:43except move in the furniture and carry on paying the rent.
0:16:46 > 0:16:51David has an eye for a good picture and it seems an eye for a good property.
0:16:51 > 0:16:57With Jane and Leonie doing the makeover, this flat has gone from '60s fashion disaster
0:16:57 > 0:17:00to modern chic, and is ready to hit the property catwalk.
0:17:12 > 0:17:14Well, it's been hard work.
0:17:14 > 0:17:20Leonie and I have been over every day painting and filling and decorating.
0:17:20 > 0:17:22I think we've both learnt new skills.
0:17:22 > 0:17:27I lost Jane in the bathroom for a week, she was spending a week in there.
0:17:27 > 0:17:33I put the tiles up and Leonie did the grouting so it was a real team effort because I hate the grouting.
0:17:33 > 0:17:35And then we painted...
0:17:35 > 0:17:38One of us painted the tops and one of us painted the bottoms.
0:17:38 > 0:17:42We had great fun on artexing the ceiling.
0:17:42 > 0:17:43We did it once.
0:17:43 > 0:17:45Then we did it twice.
0:17:45 > 0:17:51It looked such a mess that we paid the decorators downstairs to come and do it and never told anybody.
0:17:53 > 0:17:54Nor me!
0:17:56 > 0:17:59Well, you certainly know now, David.
0:17:59 > 0:18:04Jane and Leonie have worked very hard to try and keep the costs down,
0:18:04 > 0:18:06but one area they weren't going to scrimp on was the bathroom.
0:18:06 > 0:18:10They wanted a new suite and they got a new suite.
0:18:10 > 0:18:15As you'll see, the bathroom has been replaced and the end result is the effect.
0:18:15 > 0:18:17The effect is fantastic.
0:18:17 > 0:18:22I was persuaded to get rid of the old bath and we lashed out for a new one.
0:18:22 > 0:18:25The end result is very nice.
0:18:25 > 0:18:29So those interior design detectives targeted one of the usual suspects
0:18:29 > 0:18:33of property improvements and got a new bathroom suite after all.
0:18:33 > 0:18:38I think we were a bit worried about getting the other tiles off, we thought we might damage the bath.
0:18:38 > 0:18:40That swung it when...
0:18:40 > 0:18:43We probably deliberately damaged the bath!
0:18:43 > 0:18:47We didn't need to in the end, did we?
0:18:47 > 0:18:49No. That made life a bit easier.
0:18:49 > 0:18:51So we were all talking.
0:18:51 > 0:18:52So David lost that one.
0:18:52 > 0:18:59But though the girls wanted laminate flooring, David succeeded in having the lounge and the bedroom carpeted.
0:18:59 > 0:19:03But the girls seem happy enough and they are certainly pleased with their work.
0:19:03 > 0:19:06In here we filled all the cracks in and painted the ceiling white.
0:19:06 > 0:19:10It's a good idea to paint the walls cream cos they were green.
0:19:10 > 0:19:15We've kept the original wardrobe doors but we've sanded them down and got rid of the mouldings.
0:19:15 > 0:19:20And to match them in with the kitchen, we've put the same handles that we used in the kitchen.
0:19:20 > 0:19:24We've got a new light fitting, curtain pole, we made the curtains.
0:19:24 > 0:19:29The curtains look good. Exact colour. It took ages to choose!
0:19:29 > 0:19:31New sockets and switches.
0:19:31 > 0:19:33New carpet. Pleased?
0:19:33 > 0:19:36We did it.
0:19:36 > 0:19:41The girls certainly make a great team but have they managed to keep the bank manager on side?
0:19:41 > 0:19:44Well, someone's paying the bills eventually,
0:19:44 > 0:19:48and that is me, but Jane's got a very good eye for bargains
0:19:48 > 0:19:52and she has done extremely well in cutting down the costs.
0:19:52 > 0:19:59There are a few more bills to add up but we'll just tip over the 7,000 and that's really the limit we had.
0:19:59 > 0:20:057,000 to turn the flat from this to this.
0:20:05 > 0:20:11I'm pleased to see they've kept some of the more interesting details, which add to this flat's appeal.
0:20:11 > 0:20:13When you walk in, there's a real sense of light and space
0:20:13 > 0:20:17and it's that effect I'm aiming at because, obviously,
0:20:17 > 0:20:21although we're not selling this property, we're renting it and it has to compete with others.
0:20:21 > 0:20:26Hopefully when the tenants come through the door this will be the one that they rent.
0:20:26 > 0:20:33After spending 79,000 on this flat, David is not planning to sell it just yet,
0:20:33 > 0:20:36but he has applied to extend that 51-year lease for when he does.
0:20:36 > 0:20:40But will he make a profit? We asked two local estate agents for their opinion.
0:20:54 > 0:20:58We were talking around 105,000.
0:20:58 > 0:21:02Seeing it today, I'm definitely confident of that sort of figure,
0:21:02 > 0:21:06they've definitely got it up to that standard. It could possibly be more.
0:21:06 > 0:21:09We could be looking between 105 and 110.
0:21:09 > 0:21:13The rental... We've got another flat in the road at the moment
0:21:13 > 0:21:20that's also one bedroom, although a little bigger, it lacks the facility of having car parking.
0:21:20 > 0:21:25So I would say you are looking around the 525 per calendar month.
0:21:25 > 0:21:32An excellent rental value, and if David decides to sell, a profit of around 25 to 30,000.
0:21:32 > 0:21:38So it's a definite success and for doing so well, wasn't there a promise of a holiday?
0:21:38 > 0:21:40We're supposed to be going to Barbados and I think David's going to be buying
0:21:40 > 0:21:44the cocktails and the drinks for us because we're going with friends.
0:21:44 > 0:21:48We're going to lie by the pool and the men can do what they like.
0:21:48 > 0:21:50We're just going for the sunbathing and the rest.
0:21:50 > 0:21:53Yes, definitely, we need a rest after this.
0:21:53 > 0:21:57I think they've earned it. They have really done a good job so Barbados, here we come.
0:21:59 > 0:22:05And with just a few more finishing touches, they can all go off and enjoy cocktails under the sun
0:22:05 > 0:22:09and concoct the next project.
0:22:23 > 0:22:27We're back in Teignmouth, in Devon, where this dilapidated building
0:22:27 > 0:22:31had gone to auction with a guide price of £19,000.
0:22:31 > 0:22:34It was eventually bought for £36,000 by Ken,
0:22:34 > 0:22:37who's a local antiques dealer.
0:22:37 > 0:22:42He's an ex-boxer from London and he planned to convert the building
0:22:42 > 0:22:43into a boxing academy for kids.
0:22:43 > 0:22:46Don't need a ring. That is for the big boys.
0:22:46 > 0:22:49You know what I mean? Don't need it when you're amateur.
0:22:49 > 0:22:52If you start off with nothing, you get to be something.
0:22:53 > 0:22:56Three months later and the training has really paid off.
0:22:58 > 0:23:04Things have definitely progressed. The walls have been cleared right back, ready to be plastered,
0:23:04 > 0:23:07new windows have been put in and a roof's been put on.
0:23:07 > 0:23:10So, how's the work been going?
0:23:11 > 0:23:14First thing we had to do was strip the roof right off,
0:23:14 > 0:23:16which was practically falling down anyway,
0:23:16 > 0:23:21but we had a couple of boys here, they stripped the roof off one weekend, got it all off.
0:23:21 > 0:23:24Then we had a carpenter come down next.
0:23:24 > 0:23:25He put all these beams in for me.
0:23:25 > 0:23:31Then he laid two layers of board on top and then laid asphalt.
0:23:31 > 0:23:35Ken has done a ring-round of his contacts to enlist a bit of muscle.
0:23:35 > 0:23:38When they heard that I was going to start doing this project,
0:23:38 > 0:23:40they were only too pleased to come down.
0:23:40 > 0:23:43They put new windows in for us
0:23:43 > 0:23:47and then we got a couple of painters come down afterwards.
0:23:47 > 0:23:49They done the painting on the outside.
0:23:49 > 0:23:52Now we've gotta do the inside, which will be the floor,
0:23:52 > 0:23:56do the cementing on the walls, and then we're practically there.
0:23:56 > 0:24:00His wife Linda did have some reservations about the project,
0:24:00 > 0:24:03but now that work's progressing, she's been won over.
0:24:03 > 0:24:05Well, it's been absolutely great.
0:24:05 > 0:24:08As you can see, it's now finished on the outside
0:24:08 > 0:24:12and I'm really, really pleased that no longer does it look a dump
0:24:12 > 0:24:13as I open my front door.
0:24:13 > 0:24:15She said, "As long as you get the outside
0:24:15 > 0:24:19"so it doesn't look dirty down this lane any more, I'll be satisfied."
0:24:19 > 0:24:21And so I had to get that done first, any case.
0:24:21 > 0:24:25Ken's really enjoyed it. We've had a great time doing it.
0:24:25 > 0:24:27The boys that did it were absolutely fantastic.
0:24:27 > 0:24:29We're really, really pleased.
0:24:29 > 0:24:32MUSIC: "Eye Of The Tiger" by Survivor
0:24:33 > 0:24:36There's been a lot of help for Ken from his fight friends
0:24:36 > 0:24:40but the budget's got a few more rounds to go.
0:24:40 > 0:24:43We've gotta buy the equipment, as well. It's the most expensive part.
0:24:43 > 0:24:46You're talking about punchbags, punchballs.
0:24:46 > 0:24:49You're talking about hundreds of pounds.
0:24:49 > 0:24:52Boxing gloves come to £40 a pair.
0:24:52 > 0:24:55So when everything is done, if you've spent £2,000,
0:24:55 > 0:24:58you're looking at another £1,000 for equipment.
0:24:58 > 0:25:03Remember, Ken paid £36,000 for this building in Sun Lane.
0:25:03 > 0:25:07So is his budget standing up or is it on the ropes?
0:25:07 > 0:25:11We're almost skint...but... HE CHUCKLES
0:25:11 > 0:25:14we'll get the money from somewhere cos we can borrow the money.
0:25:14 > 0:25:17People always come up with money. We'll get it from somewhere.
0:25:17 > 0:25:19Not too worried about that.
0:25:19 > 0:25:24At 77, he may be skint, but he's fit and ready for the challenges ahead.
0:25:24 > 0:25:28But has Linda forgiven him for splashing out £36,000 on his dream at auction?
0:25:28 > 0:25:31- SHE CHUCKLES - I'm still thinking about that.
0:25:31 > 0:25:34She'll never get over that. HE LAUGHS
0:25:34 > 0:25:36She'll never get over it!
0:25:36 > 0:25:39So, is this building in Sun Lane as fit as Ken?
0:25:39 > 0:25:44It's going to be a judges' decision, so let's call in two local experts.
0:26:07 > 0:26:10The sort of price I think he'd be getting for it now
0:26:10 > 0:26:14would probably be something in the region of about 40,000.
0:26:14 > 0:26:16I would suggest offers over £45,000
0:26:16 > 0:26:20and I would expect to achieve close to £50,000.
0:26:20 > 0:26:23I wouldn't want to sell it, anyway. You've got no idea...
0:26:23 > 0:26:25I didn't buy it to sell it, to make a profit on it,
0:26:25 > 0:26:29I just wanted it for a project, as a boxing thing.
0:26:29 > 0:26:33So what are Ken's plans for his boxing academy?
0:26:33 > 0:26:38I'd like to see some kid come down here, start training,
0:26:38 > 0:26:40maybe a year or two,
0:26:40 > 0:26:43and then go to a club
0:26:43 > 0:26:46and go and win an APA title.
0:26:46 > 0:26:48Beautiful. Beautiful.
0:26:48 > 0:26:49And who knows?
0:26:49 > 0:26:54Maybe one day someone WILL climb into the ring in Madison Square Garden
0:26:54 > 0:26:57and their title aspirations would have all started
0:26:57 > 0:27:02in Ken's boxing academy in Sun Lane, Teignmouth.
0:27:05 > 0:27:08Join us next time for more action from the auction archive.
0:27:08 > 0:27:11- We'll see you then. - Goodbye.- Goodbye.