0:00:00 > 0:00:02If you're a familiar auction-goer,
0:00:02 > 0:00:05you'll be used to the sound of the gavel coming down on a sale.
0:00:05 > 0:00:09If that's what gets your blood pumping, you're in for a treat.
0:00:09 > 0:00:12So we've got three different properties on today's show
0:00:12 > 0:00:15so hold onto your hats for Homes Under the Hammer!
0:00:40 > 0:00:45Once you've bought a property, the challenge is how to add value to it.
0:00:45 > 0:00:49Project managing renovations isn't always as easy as it looks.
0:00:49 > 0:00:53Let's take a look at all three properties on today's show.
0:00:55 > 0:01:00In East Lothian, I truly believe I've found a great development opportunity.
0:01:00 > 0:01:03Now I'm getting excited!
0:01:06 > 0:01:10At a Wiltshire property, I'm on the hunt for any signs of character!
0:01:10 > 0:01:13So far I'm looking around, and there isn't any!
0:01:14 > 0:01:20And if you bought this house in Derbyshire without viewing it, you could be in for a nasty shock!
0:01:20 > 0:01:24Wow! Look at that wiring!
0:01:26 > 0:01:28All these properties were sold at auction.
0:01:28 > 0:01:33We find out who bought them and what they paid when they went under the hammer.
0:01:35 > 0:01:41I'm about ten miles east of Edinburgh in Tranent, which used to be an important mining town.
0:01:41 > 0:01:46Its original ancient name was Travernment, trav meaning village
0:01:46 > 0:01:49and ment meaning valley. So it's the village in the valley.
0:01:49 > 0:01:53But has the property market round here also bottomed out?
0:01:53 > 0:01:56I'm here to look at a lot guided at just 55,000.
0:01:56 > 0:02:02So, what does £55,000 buy you in property terms?
0:02:02 > 0:02:04A garage? A plot of land?
0:02:04 > 0:02:06A dilapidated house, perhaps.
0:02:06 > 0:02:10Well, here in Tranent, about nine miles outside Edinburgh,
0:02:10 > 0:02:13it could buy you this - an old chapel.
0:02:13 > 0:02:17# Going to the chapel and we're
0:02:17 > 0:02:20# Gonna get married... #
0:02:20 > 0:02:24Built in 1870, this old Methodist chapel was a place of worship
0:02:24 > 0:02:25for over 100 years.
0:02:25 > 0:02:29Recently, it's been used as an antiques showroom, amongst other things.
0:02:29 > 0:02:31So, what's next for it, I wonder?
0:02:31 > 0:02:35So, is it going to be a Hallelujah moment as you walk through the door,
0:02:35 > 0:02:37or an, "Oh, cor blimey!" one?
0:02:37 > 0:02:40Well, kind of half and half.
0:02:40 > 0:02:43Quite an interesting entrance.
0:02:43 > 0:02:47An ante room there and another there with a bit of kitchen stuff going on.
0:02:47 > 0:02:51Then through to what is hopefully the main part of the building.
0:02:51 > 0:02:52Yes!
0:02:52 > 0:02:54That's more like it!
0:02:54 > 0:02:58A really good-sized space. High ceilings,
0:02:58 > 0:03:00beautiful old floorboards.
0:03:00 > 0:03:02Now I'm getting excited!
0:03:05 > 0:03:07This is fantastic.
0:03:07 > 0:03:10Not only is there a large open hall this side,
0:03:10 > 0:03:13next to it there's an equally large space
0:03:13 > 0:03:15where the congregation sat for the service
0:03:15 > 0:03:17complete with pews and pulpit.
0:03:20 > 0:03:25The single-storey stone building was sub-divided in 1958
0:03:25 > 0:03:27to create the church hall.
0:03:27 > 0:03:31But it's a chapel that may not be here for very much longer.
0:03:31 > 0:03:36Because planning permission has been passed to demolish it.
0:03:37 > 0:03:41The planning is for four flats with parking.
0:03:41 > 0:03:44Well, I can see the financial side of it, I guess,
0:03:44 > 0:03:46but it makes you feel sad
0:03:46 > 0:03:49that a place like this looks like it's going to go.
0:03:53 > 0:03:56It's not so much what's inside that I'm attracted to,
0:03:56 > 0:03:58it's the fabric and design of the place.
0:03:58 > 0:04:04It's the windows, the high ceiling, the brick and the history that will be bulldozed away.
0:04:04 > 0:04:07So is this really the end for the chapel?
0:04:07 > 0:04:10What does the auctioneer who sold it think?
0:04:11 > 0:04:15The planning consent that the building has is for redevelopment
0:04:15 > 0:04:18of the property to form four flats.
0:04:18 > 0:04:20Two bedrooms each.
0:04:20 > 0:04:26There is a condition within the consent for the developers to use the stone, or re-use the stone,
0:04:26 > 0:04:29of the building and surrounding walls.
0:04:31 > 0:04:34At least a small part of the building would be retained
0:04:34 > 0:04:36even if it's just the stone.
0:04:36 > 0:04:39But is this really the best option for the chapel?
0:04:39 > 0:04:41I think it'll be a bit of a shame
0:04:41 > 0:04:44because there's still life in this building
0:04:44 > 0:04:47and certainly in the current post credit-crunch environment,
0:04:47 > 0:04:52there's a good opportunity for the building to be brought back into use.
0:04:52 > 0:04:55I don't necessarily think redevelopment for residential
0:04:55 > 0:04:58is the way forward for this particular property.
0:04:58 > 0:05:02It may not be the local community's favoured outcome,
0:05:02 > 0:05:03but what about financially?
0:05:03 > 0:05:06We've had a look at rental levels,
0:05:06 > 0:05:11and having sold quite a few flats in Tranent over the last few months,
0:05:11 > 0:05:14we're aware that the one-bed flat
0:05:14 > 0:05:18is probably commanding a rental of about £340 a month,
0:05:18 > 0:05:22and two-bed, perhaps £400 per calendar month.
0:05:22 > 0:05:27If we were looking to sell flats at that level,
0:05:27 > 0:05:32it'll be somewhere between 100 and 120, depending on what they comprised.
0:05:32 > 0:05:37Four flats would bring in a return of £400,000
0:05:37 > 0:05:40from a building that was guided at just 55,000.
0:05:40 > 0:05:42Even with development costs,
0:05:42 > 0:05:46there's likely to be a healthy profit margin going down that route.
0:05:46 > 0:05:50There is the emotional side of knocking down a beautiful building.
0:05:50 > 0:05:55Still, it will be up to whoever bought it when it went under the hammer.
0:05:58 > 0:05:59Lot 29. Bridge Street, Tranent.
0:05:59 > 0:06:05The Tranent Primitive Methodist chapel, built in 1970.
0:06:05 > 0:06:07It's a very handsome building.
0:06:07 > 0:06:09What are we going to say for that?
0:06:09 > 0:06:13Somebody start me off at £60,000?
0:06:13 > 0:06:1560. 61.
0:06:15 > 0:06:19Gentleman down here at £60,000. I'm going to sell at £60,000.
0:06:19 > 0:06:23£60,000. Gentleman down here. 61.
0:06:23 > 0:06:2561. 62. 63.
0:06:26 > 0:06:2963? 63. 64. 65.
0:06:29 > 0:06:3265. 66. 67.
0:06:32 > 0:06:3467. 68. 69.
0:06:36 > 0:06:3770. One.
0:06:39 > 0:06:43I think you might have done him now. At £70,000. Going once.
0:06:43 > 0:06:47Twice. Third and final time. We're all done.
0:06:47 > 0:06:51£70,000. Gentleman started me, finished me. You deserve it, sir. Thank you.
0:06:51 > 0:06:57So, for £70,000, the man who's bought himself a chapel is Alex.
0:06:57 > 0:07:03He saw this as a heaven-sent opportunity to pursue a long-held dream.
0:07:03 > 0:07:05Alex, congratulations.
0:07:05 > 0:07:09- You've got yourself a church. - I have that!- Why did you want to buy it?
0:07:09 > 0:07:14Originally I wanted to buy it because I've always had a dream of owning a boxing club.
0:07:14 > 0:07:17- A boxing club?!- Yeah, a boxing club.
0:07:17 > 0:07:20Amateur boxing, as I used to box myself.
0:07:20 > 0:07:25I've always been looking for premises that I could buy
0:07:25 > 0:07:27and own my own boxing club.
0:07:27 > 0:07:31Bring lads in off the street and make them into champions.
0:07:31 > 0:07:34- Wow. You must be delighted to have found it.- To be honest,
0:07:34 > 0:07:37I've been watching it for three years.
0:07:37 > 0:07:39I live along the road, two doors away.
0:07:39 > 0:07:45- Really?- The man had his antiques in here and I approached him and he wouldn't tell me who owned it.
0:07:45 > 0:07:50I remember saying to an old man, Hamish, that used to run Haddington Boxing Club up the road,
0:07:50 > 0:07:53"I'll have that church as a boxing club one day."
0:07:53 > 0:07:57And he said, "No chance." Then I met him at a boxing show just after I'd purchased it
0:07:57 > 0:08:01- and he said, "I can't believe you did it."- That's great news.
0:08:01 > 0:08:05Not only will the chapel building remain, but it will become a community space again,
0:08:05 > 0:08:07a place for hopes and dreams.
0:08:09 > 0:08:15- So why boxing? Talk me through that. - I started boxing at 11 years old.
0:08:15 > 0:08:22- I boxed till I was 15. Unfortunately, I developed tuberculosis.- Oh, no.
0:08:22 > 0:08:24So I had to stop boxing.
0:08:24 > 0:08:26So I threw myself into business.
0:08:26 > 0:08:29I own a carpet and furniture shop now.
0:08:29 > 0:08:33I've owned various businesses and done little developments.
0:08:33 > 0:08:38I went back to the boxing at 20 because now I had my business off the ground
0:08:38 > 0:08:42I wanted another stab at the boxing side of things.
0:08:42 > 0:08:45I also noticed the difference it makes to young lads' lives.
0:08:45 > 0:08:50When I was in trouble when I was young, my dad would say, "Oh, no!"
0:08:50 > 0:08:52He didn't want to know. He'd get embarrassed.
0:08:52 > 0:08:56But when I was at the boxing, they were proud and they were there.
0:08:56 > 0:08:59It's not, "He's not mine." It's, "That lad there, he's my son!"
0:08:59 > 0:09:02So that's my real reason for getting into this.
0:09:07 > 0:09:11Alex might see this as the perfect place to fight the good fight,
0:09:11 > 0:09:14but he'll need to get change of use first.
0:09:14 > 0:09:17Then he can start altering the altar!
0:09:17 > 0:09:22- Let's talk about the building. How are you going to turn this into a boxing academy?- Right.
0:09:22 > 0:09:25First of all, the big wall along the middle comes away.
0:09:25 > 0:09:29We'll put the male dressing room through at the back there
0:09:29 > 0:09:34and we'll put the female dressing room through here where the toilets are and the kitchen.
0:09:34 > 0:09:36So it's going to be boys and girls?
0:09:36 > 0:09:39It's mixed. There's no problem about mixing it at all.
0:09:39 > 0:09:42Most boxing clubs nowadays are mixed.
0:09:42 > 0:09:45The boxing ring will go here on the left-hand side.
0:09:45 > 0:09:50There will be mirrors all the way round because all boxers like to see themselves.
0:09:50 > 0:09:54When they're shadow boxing, the big thing is mirrors.
0:09:54 > 0:09:59When you're teaching a kid to box, the best way to teach him is to let him see what he's doing.
0:09:59 > 0:10:02We'll have the punching bags and things over there.
0:10:02 > 0:10:05Then we'll have a CD area in the other corner.
0:10:05 > 0:10:08What about cost for getting it sorted?
0:10:08 > 0:10:09Right off the top of my head,
0:10:09 > 0:10:12to get this up and running it's going to cost me 27 grand.
0:10:12 > 0:10:15So that £27,000 is on top of the 70,000 you paid to buy it.
0:10:15 > 0:10:18- You've almost put £100,000 in this. - Right.
0:10:18 > 0:10:21- Financially, does it bring anything back?- Not right away.
0:10:21 > 0:10:25It's only really always been the love of my life
0:10:25 > 0:10:27and a hobby I always wanted to do when I retire.
0:10:27 > 0:10:33It's not an investment that I've made thinking, "I've thrown that money down the side."
0:10:33 > 0:10:37Because if it was to fail, I've still got the building.
0:10:37 > 0:10:39I've developed properties before.
0:10:39 > 0:10:42I can still develop it into four two-bedroomed flats.
0:10:42 > 0:10:47I'm in the furniture and carpet business. It could be a furniture and carpet unit.
0:10:47 > 0:10:51So Alex comes to this with his eyes wide open.
0:10:51 > 0:10:55He's got a number of strategies to make sure he comes out on top.
0:10:55 > 0:10:59But first and foremost, he wants the boxing gym to succeed.
0:10:59 > 0:11:04- What would be your dream for it? - My dream straight away is I'm a realist.
0:11:04 > 0:11:08I never say I'm going to do this or that. Everything I say, I do.
0:11:08 > 0:11:13I said I was going to run five marathons for children with leukaemia and I have done.
0:11:13 > 0:11:16I raised £20,000 for children with leukaemia.
0:11:16 > 0:11:21I've got two friends that have already been world champions, who are going to be part of this.
0:11:21 > 0:11:26In 20 years, I'd like a world champion. In two years I'd like a British champion,
0:11:26 > 0:11:32- and next year I want a Scottish champion.- It's fantastic what you're doing. Can't wait to see it.
0:11:32 > 0:11:35- Great to meet you. - You, too.- Thank you.
0:11:35 > 0:11:40# ..stands a boxer and a fighter by his trade
0:11:40 > 0:11:42# And he carries the reminders
0:11:42 > 0:11:45# Of every glove that laid him down
0:11:45 > 0:11:47# Or cut him till he cried out
0:11:47 > 0:11:49# In his anger and his shame
0:11:49 > 0:11:52# I am leaving, I am leaving
0:11:52 > 0:11:55# But the fighter still remains... #
0:11:57 > 0:12:02Undoubtedly, Alex has some challenges ahead to ring the changes here.
0:12:02 > 0:12:04But with his passion and enthusiasm,
0:12:04 > 0:12:09I've no doubt he can turn his long-held dream into reality.
0:12:17 > 0:12:21Well, what a great thing Alex is creating for the local children.
0:12:21 > 0:12:26When you think about it, this place will be absolutely ideal for that.
0:12:26 > 0:12:31Join us for round two and find out how he gets on later in the show.
0:12:35 > 0:12:38This is Bromham, near Chippenham in Wiltshire,
0:12:38 > 0:12:41known for its market gardening.
0:12:43 > 0:12:46There's a really local feel and some stunning old properties
0:12:46 > 0:12:51and it even holds a carnival each year that lasts for two weeks!
0:12:51 > 0:12:54These are definitely people who know how to party!
0:12:54 > 0:12:59So, after all that talk of fun, I'm afraid it's time to be on best behaviour
0:12:59 > 0:13:02as the property I'm here to see is in a former school.
0:13:02 > 0:13:06It was built in 1910 and later converted into several cottages.
0:13:06 > 0:13:10It's got two bedrooms and a guide of only 70,000.
0:13:10 > 0:13:13Let's get inside and see if it's worth a gold star!
0:13:18 > 0:13:23We're not talking about a large comprehensive school, just a local village one.
0:13:23 > 0:13:27Along with the pupils, the playground has gone and since been developed.
0:13:27 > 0:13:32Judging by the front door and porch, I don't think I'll find a row of desks and blackboards here.
0:13:32 > 0:13:35I know this is a mid-'80s conversion,
0:13:35 > 0:13:38and sadly, it feels like it.
0:13:38 > 0:13:41It's not a decade known for its great design, I have to say.
0:13:41 > 0:13:44Sadly, it's got quite low ceilings,
0:13:44 > 0:13:47and lots of woodchip wallpaper on the ceiling as well.
0:13:47 > 0:13:48A kitchen over here.
0:13:48 > 0:13:51Really small.
0:13:51 > 0:13:55A downstairs bathroom, which could be a bit of a negative.
0:13:55 > 0:13:58Big storage heaters over here, so there's no central heating.
0:13:58 > 0:14:03I was quite excited, thinking, "The old schoolhouse. Loads of character."
0:14:03 > 0:14:07So far, I'm looking around and there isn't any!
0:14:11 > 0:14:15I guess as a school, this wasn't much more than a hall with a few rooms off it.
0:14:15 > 0:14:19So to make it into a home, it was further sub-divided.
0:14:19 > 0:14:22So there could be opportunities to tinker with the layout.
0:14:22 > 0:14:26But first, let's see exactly what you'd be taking on.
0:14:26 > 0:14:31Upstairs, you've got two bedrooms. Ah, and two staircases!
0:14:31 > 0:14:35That is quite unusual, although it does feel quite quirky up here.
0:14:35 > 0:14:38You have this beautiful original beam,
0:14:38 > 0:14:40this lovely big window letting in loads of light
0:14:40 > 0:14:44but once you've got over that, I think, as a parent,
0:14:44 > 0:14:49it might be a problem having the rooms split up on either side.
0:14:49 > 0:14:53Mum and Dad on one side, kids on another.
0:14:53 > 0:14:56You might spend half the night running up and down these stairs.
0:14:56 > 0:14:59In fact, it could get a little tiresome.
0:15:03 > 0:15:06# Tryin' to make some sense of it all
0:15:06 > 0:15:09# But I can see it makes no sense at all
0:15:10 > 0:15:13# Is it cool to go to sleep on the floor
0:15:14 > 0:15:17# I don't think that I can take any more
0:15:18 > 0:15:22# Clowns to the left of me, jokers to the right
0:15:22 > 0:15:26# Here I am, stuck in the middle with you. #
0:15:26 > 0:15:28This set-up is far from ideal.
0:15:28 > 0:15:32But frankly with the costs involved in altering it, I think you're stuck with it.
0:15:32 > 0:15:35So, with just two bedrooms upstairs, one tiny,
0:15:35 > 0:15:37who would this be suitable for?
0:15:37 > 0:15:41Well, it's not a family home, and that will limit its resale value.
0:15:41 > 0:15:44But as a rental, however, it really works.
0:15:44 > 0:15:47The downstairs bathroom isn't so much of an issue.
0:15:47 > 0:15:51The small garden is suddenly manageable. And it does have parking.
0:15:51 > 0:15:55In fact, you could be looking at as much as £500 a month,
0:15:55 > 0:16:00which, if you bought for the guide, spent around £10,000 on the refurb plus fees,
0:16:00 > 0:16:02that's over a six per cent yield.
0:16:02 > 0:16:06Which just proves it's worth paying attention in maths class, after all!
0:16:06 > 0:16:14- #- And I'm never going back to my old school...- #
0:16:17 > 0:16:19So the figures really do add up.
0:16:19 > 0:16:22Even if the geography of the house is far from perfect
0:16:22 > 0:16:25and with the old beams there's a bit of history thrown in,
0:16:25 > 0:16:29is this a top class investment? I'm not sure.
0:16:29 > 0:16:31What does a local estate agent think?
0:16:34 > 0:16:38The property needs quite a lot of modernising.
0:16:38 > 0:16:41It was refurbed in the '80s when it was converted to accommodation.
0:16:41 > 0:16:45It's got a very '80s feel to it.
0:16:45 > 0:16:48It needs general modernisation in terms of electrics.
0:16:48 > 0:16:51The heating will probably need an update.
0:16:51 > 0:16:53The windows have seen better days.
0:16:53 > 0:16:57The bedrooms are interesting, with two separate staircases.
0:16:57 > 0:17:00It makes it different. It wouldn't suit everybody.
0:17:00 > 0:17:03But for the right person it's a bit different and unusual.
0:17:05 > 0:17:09Quirky and different is great. But they don't always equate to good resale values
0:17:09 > 0:17:12and make it harder to assess an exact price.
0:17:13 > 0:17:19The property today as it stands, I would suggest is worth in the region of about £90,000.
0:17:19 > 0:17:23If you were to spend the necessary monies on it,
0:17:23 > 0:17:28I would think you could get a reasonable return, worth something in the region of 125.
0:17:28 > 0:17:32With that potential £500 a month rental,
0:17:32 > 0:17:36as an investment, this appears to stand up under examination.
0:17:36 > 0:17:40This could be a lovely little school conversion
0:17:40 > 0:17:42in a really fab location.
0:17:42 > 0:17:45Right now, it could do better,
0:17:45 > 0:17:48but given a bit of extra help, it may be top of the class!
0:17:48 > 0:17:52Let's see who did their homework and bid at the auction.
0:17:55 > 0:17:58Start me at 85. Somebody save my breath.
0:17:58 > 0:17:5980, if you like.
0:17:59 > 0:18:02At £80,000. 81 I've got behind me. At 81.
0:18:02 > 0:18:0582. 83.
0:18:05 > 0:18:0784. 85.
0:18:07 > 0:18:0986? 85 and a half?
0:18:09 > 0:18:1185 and a half. 86.
0:18:11 > 0:18:14And a half.
0:18:15 > 0:18:17Yeah. 87? 87.
0:18:17 > 0:18:19And a half?
0:18:19 > 0:18:21It's weakening, I think.
0:18:21 > 0:18:2387 and a half? OK. 87 and a half.
0:18:23 > 0:18:27Bid on the right-hand side. 87 and a half. 88. New blood.
0:18:27 > 0:18:2888. And a half?
0:18:29 > 0:18:31And a half.
0:18:31 > 0:18:3289.
0:18:32 > 0:18:34And a half.
0:18:34 > 0:18:3890 for luck? Round the corner half? No? OK. The lady's bid over there.
0:18:38 > 0:18:41It's your bid at £90,000. I'll take a half from anyone.
0:18:41 > 0:18:4490 and a half. New blood. 90 and a half? No? One.
0:18:44 > 0:18:46500? And one?
0:18:49 > 0:18:52No? At 90 and a half, then. Fresh blood right at the end.
0:18:52 > 0:18:54£90,500 for the first time.
0:18:56 > 0:18:59£90,500 for the second time. Either of you, yes or no?
0:18:59 > 0:19:04Otherwise 90,500, third and last time. All done at 90 and a half.
0:19:04 > 0:19:07Your number, sir, is? 48, is it?
0:19:09 > 0:19:12That last minute bid of £90,500
0:19:12 > 0:19:14came from local man, Nigel.
0:19:14 > 0:19:16I met him back at the old school
0:19:16 > 0:19:18to check on whether he had done his homework.
0:19:18 > 0:19:20Nigel,
0:19:20 > 0:19:24- congratulations.- Thank you. - How much research had you done on the property?
0:19:24 > 0:19:28I'd been to have a brief look round it once.
0:19:28 > 0:19:32It was more the location. I was looking for somewhere in this particular village.
0:19:32 > 0:19:39- How well do you know this village? - Pretty well. I've kept horses here for three or four years.
0:19:39 > 0:19:43I currently live in the next village up the road.
0:19:43 > 0:19:46- Tell me what you do.- I'm a farrier.
0:19:47 > 0:19:50This house will be the first place Nigel's owned.
0:19:50 > 0:19:53It's ideal with his farrier's yard just up the road,
0:19:53 > 0:19:57along with stabling for his main passion, horses.
0:20:00 > 0:20:04Horses have been a big part of my life, my whole life.
0:20:04 > 0:20:07I buy and sell a few horses as well and compete them.
0:20:07 > 0:20:12- How well have you done over the years?- Pretty well. I've jumped on the national circuit.
0:20:12 > 0:20:15Do you ride horses every day?
0:20:15 > 0:20:18Yes. I ride three every morning before I go to work.
0:20:18 > 0:20:23- How old were you when you got your first horse?- My grandfather bought it for me the day I was born!
0:20:23 > 0:20:26My goodness! Oh, that's amazing!
0:20:27 > 0:20:31Up until now, horses have dominated Nigel's time and energy.
0:20:31 > 0:20:36But he's got his own place now and needs to focus on this schoolwork.
0:20:36 > 0:20:39What subject was he going to concentrate on first?
0:20:41 > 0:20:45- There's a couple of walls I might knock out.- Whereabouts?
0:20:45 > 0:20:49In the kitchen here, we're probably going to knock this wall out
0:20:49 > 0:20:51and put a breakfast bar across.
0:20:51 > 0:20:55- The bathroom, happy with that being downstairs?- We think we'll leave it downstairs
0:20:55 > 0:20:57but turn it into a wet room.
0:20:57 > 0:21:01- Really?- Take the bath out. - That's quite a costly thing to do.
0:21:01 > 0:21:06It won't be cheap. Hopefully we can do most of the work ourselves.
0:21:06 > 0:21:09I have a friend in the village who's a carpenter and joiner.
0:21:09 > 0:21:12He said he'll do the windows for me.
0:21:12 > 0:21:16That's the lovely thing about village life. Everyone helps everybody out.
0:21:16 > 0:21:19I'm sure most of the villagers know who you are.
0:21:19 > 0:21:23- Yes, I spend a lot of time in the village.- Are you called Nigel the Farrier?
0:21:23 > 0:21:28- Probably.- Or Nigel the horse-riding guy.- That and a few other things!
0:21:28 > 0:21:31Well, he might be known as Nigel the Farrier,
0:21:31 > 0:21:36but he hopes his dad Andy can be persuaded to become Handy Andy
0:21:36 > 0:21:38or Andy the Builder.
0:21:39 > 0:21:43What involvement has your dad got in the building trade?
0:21:43 > 0:21:46He's just very handy himself
0:21:46 > 0:21:50and he's got three or four brothers in the building or decorating trade.
0:21:50 > 0:21:54They'll come and give us advice
0:21:54 > 0:21:57and make sure we don't make the place fall down!
0:21:57 > 0:21:59What budget do you have to do this work?
0:21:59 > 0:22:04We're looking probably about £6,000.
0:22:04 > 0:22:07How long will it take to get this place looking as you want it?
0:22:07 > 0:22:10Hopefully, we'll have it done in six to eight weeks.
0:22:10 > 0:22:12- So pretty quick, then?- Yeah.
0:22:12 > 0:22:16If I need Dad's help, it has to be quick as he's going to Australia for a month!
0:22:16 > 0:22:19- You need to crack on and get it done.- Before he goes.
0:22:20 > 0:22:23OK. So the clock is ticking.
0:22:23 > 0:22:25Study time is over.
0:22:25 > 0:22:28Time to put Nigel and his Dad's knowledge to the test.
0:22:28 > 0:22:31The question is, will they make the grade?
0:22:32 > 0:22:36Farrier Nigel has cleared the first jump by buying this place.
0:22:36 > 0:22:40So now it's just a matter of hammering it into shape.
0:22:40 > 0:22:43I'll be interested in seeing the changes he makes to the downstairs.
0:22:43 > 0:22:47Will he race ahead with the work or will he fall at the first hurdle?
0:22:47 > 0:22:51Join us later in the programme and you can find out.
0:22:52 > 0:22:56Coming up: some parts of this house in Derbyshire
0:22:56 > 0:22:58aren't exactly bang up to date.
0:22:58 > 0:23:01I don't really think it's that well made!
0:23:02 > 0:23:07It's back to school in Wiltshire. But will Nigel's renovation pass the test?
0:23:07 > 0:23:12I never expected to get a property of this type for the money it's ended up costing me.
0:23:14 > 0:23:19But first, did Alex win the fight to transform his chapel?
0:23:19 > 0:23:22It never was about money. It's about a passion.
0:23:25 > 0:23:27Back in Tranent near Edinburgh,
0:23:27 > 0:23:30an old Methodist chapel seemed ripe for development.
0:23:30 > 0:23:33With planning permission in place for four flats,
0:23:33 > 0:23:35its days appeared to be numbered.
0:23:35 > 0:23:39But then it found a saviour in the form of local businessman Alex,
0:23:39 > 0:23:42who paid £70,000 to fulfil a personal ambition.
0:23:43 > 0:23:45Why did you want to buy it?
0:23:45 > 0:23:49Originally, I wanted to buy it because I have a dream of owning a boxing club.
0:23:49 > 0:23:52- A boxing club?!- Yeah, a boxing club.
0:23:52 > 0:23:54Amateur boxing. I used to box myself.
0:23:54 > 0:23:57So, just four months later,
0:23:57 > 0:24:01had Alex won the fight to turn the chapel from pews and pulpits
0:24:01 > 0:24:03to pugilistic pursuits?
0:24:07 > 0:24:10Well, the cross has gone and the signs are good
0:24:10 > 0:24:13with the makeover of the kitchen and toilet area.
0:24:15 > 0:24:18As soon as I saw it, I knew what I wanted it for.
0:24:18 > 0:24:20It said "boxing gym" all over it, to me.
0:24:29 > 0:24:32And that is exactly what it is now.
0:24:32 > 0:24:37A fully kitted out amateur boxing gym, ready for action.
0:24:37 > 0:24:41The first thing we did was the day after you left.
0:24:41 > 0:24:45We pulled down the big wall that divided it down the middle here,
0:24:45 > 0:24:51so that we could fit the large ring in. Cos it's an 18-foot ring, and it's quite big.
0:24:51 > 0:24:57What I admire about Alex's approach is that he's been sympathetic to the original chapel fixtures
0:24:57 > 0:25:00making them a feature rather than covering or removing them.
0:25:05 > 0:25:07This is our weights area.
0:25:07 > 0:25:12Originally we made it into the shop area, but it was far too big for that.
0:25:12 > 0:25:15There was a wall running from here to this end here
0:25:15 > 0:25:17that went from top to bottom.
0:25:17 > 0:25:21It made it a waste of space in there.
0:25:21 > 0:25:23So I came in one Sunday and knocked it down myself.
0:25:23 > 0:25:25Along with weights and rings,
0:25:25 > 0:25:29what all boxing gyms need are lots and lots of mirrors.
0:25:29 > 0:25:33They create the effect of making the chapel look twice its size
0:25:33 > 0:25:37and also reflect the amount of work carried out here.
0:25:37 > 0:25:40The renovation was all done by myself, friends, family
0:25:40 > 0:25:44and friends' companies,
0:25:44 > 0:25:49from electrical to plumbing, everything.
0:25:49 > 0:25:53Damp-proof, plastering, there was nothing done with an outside firm.
0:25:53 > 0:25:58Family involvement isn't going to stop now the boxing gym is completed.
0:25:58 > 0:26:00That was just round one!
0:26:04 > 0:26:08The gym will be run by the family. My son will be involved and my daughter.
0:26:08 > 0:26:10They already are involved.
0:26:13 > 0:26:15I'll train nearly every night
0:26:15 > 0:26:18and help out with the kids as much as possible.
0:26:18 > 0:26:22My granddad is here quite a lot as well. It's quite family orientated.
0:26:25 > 0:26:28My mum helps out as well. She helps out on the cash desk
0:26:28 > 0:26:31and I've done it a few times.
0:26:34 > 0:26:37I'm sure this is going to be a family thing.
0:26:37 > 0:26:40Alex is going to continue to need that family support
0:26:40 > 0:26:43from daughter Gemma and son Zander.
0:26:43 > 0:26:47After all, he's still got his carpet and furniture store to run.
0:26:47 > 0:26:50To begin with, I was in here seven days a week without a doubt.
0:26:50 > 0:26:52He finishes his day job and comes here.
0:26:52 > 0:26:57It takes him back to his youth, when he boxed when he was younger.
0:26:57 > 0:26:59It's not like a chore or a work thing for me.
0:26:59 > 0:27:03It's more of a passion and a hobby. It doesn't feel like work.
0:27:03 > 0:27:08Since starting, they've already got 30 youths and 30 seniors signed up.
0:27:08 > 0:27:10Future plans is to produce champions
0:27:10 > 0:27:13and to be able to help some young people off the streets
0:27:13 > 0:27:16and point them in the right direction if we can.
0:27:16 > 0:27:22I think he wants it to be his legacy when he's gone. We'll take over.
0:27:23 > 0:27:25From a financial point of view,
0:27:25 > 0:27:29Alex intends to set it up as a non-profit-making organisation.
0:27:29 > 0:27:31He'll look for grants and donations
0:27:31 > 0:27:34so that he can continue to offer a facility for everybody.
0:27:34 > 0:27:36But just to get to this stage,
0:27:36 > 0:27:40he's committed a fair amount of his own money to the project.
0:27:40 > 0:27:44I've spent in the region of £30,000 on the whole project. Most of that
0:27:44 > 0:27:46has been on equipment.
0:27:46 > 0:27:50I would say the split would be about 10,000 on the renovation work
0:27:50 > 0:27:53and 20,000 on equipment.
0:27:53 > 0:27:57With the chapel costing £70,000 to buy in the first place
0:27:57 > 0:28:00and that £10,000 spend on converting it,
0:28:00 > 0:28:04Alex has sunk over £80,000 into the building alone.
0:28:05 > 0:28:08But although he didn't bank on this being a money-making venture,
0:28:08 > 0:28:13how would it fare in the current market? What do local property experts think?
0:28:14 > 0:28:16The transformation is amazing.
0:28:16 > 0:28:19The building is absolutely unrecognisable
0:28:19 > 0:28:22compared with when I came to see it prior to the auction.
0:28:22 > 0:28:27Having it as a gym, everyone nowadays is a fitness fanatic.
0:28:27 > 0:28:30Having it as a gym, especially a boxing style gym,
0:28:30 > 0:28:32will encourage locals to come here.
0:28:32 > 0:28:36What I like is they're using the space to its maximum potential.
0:28:36 > 0:28:41It's good, bright, light space. The mirrors make it look a lot bigger than it is.
0:28:41 > 0:28:45They've really done an effective job of brightening it up.
0:28:45 > 0:28:49I like the building. It's obviously been here for a few years now.
0:28:49 > 0:28:55It's modern inside, but he's managed to retain the outside with its original features.
0:28:56 > 0:29:00Generally, they seem pleased with the way the building is now being used.
0:29:00 > 0:29:03But when it comes to the £80,000-plus spent here,
0:29:03 > 0:29:06have Alex's finances taken a hit?
0:29:07 > 0:29:10I would value this property at no more than £100,000.
0:29:10 > 0:29:15I estimate this property to be worth offers in the region of £85,000.
0:29:15 > 0:29:18That's quite surprising, because I'm not in it for the money.
0:29:18 > 0:29:21It never was about money. It's about a passion.
0:29:24 > 0:29:29Yes, it's the facilities rather than the finances that matter to Alex.
0:29:34 > 0:29:37As you have probably seen today,
0:29:37 > 0:29:42you can't put a figure on the changes you can make to some people's lives with this gym.
0:29:42 > 0:29:46I would definitely do it all over again. It's been great. I really enjoyed it.
0:29:46 > 0:29:51With Alex's infectious enthusiasm, and the high-quality facilities,
0:29:51 > 0:29:56I'm sure it won't be too long before some of his proteges start to shine.
0:30:11 > 0:30:14I'm in Derbyshire, in Kirk Hallam,
0:30:14 > 0:30:18which sounds like it should be the name of a Hollywood movie star!
0:30:18 > 0:30:21So will today's property turn out to be a BAFTA winner
0:30:21 > 0:30:24or up for a Raspberry at the Razzies?
0:30:24 > 0:30:28Well, here it is. It's a two-bathroomed semi-detached
0:30:28 > 0:30:31with a guide price of 78,000 quid.
0:30:31 > 0:30:33Bit of a showstopper, isn't it?
0:30:33 > 0:30:36This four-bed property has been modified for wheelchair use.
0:30:36 > 0:30:39Note the wider front door and ramp up to the house.
0:30:39 > 0:30:43Generally, from outside it looks in good nick, apart from that cladding
0:30:43 > 0:30:46which is definitely not to my taste.
0:30:46 > 0:30:48What's in store behind the door?
0:30:48 > 0:30:54An interesting little entrance hall here, with the stairs going up there.
0:30:54 > 0:30:58Not too bad, I suppose. A lounge there, looks like a reasonable size.
0:30:58 > 0:31:00Then through into the kitchen,
0:31:00 > 0:31:02where it all starts to go a bit wrong.
0:31:02 > 0:31:06It's clearly in need of some units, but not only that,
0:31:06 > 0:31:09wow, look at that wiring!
0:31:09 > 0:31:11Not quite sure it meets current regulations(!)
0:31:11 > 0:31:13I'm not even going to touch it.
0:31:13 > 0:31:15But an interesting space.
0:31:15 > 0:31:21You've also got this little annexe area there which could be a utility area or something.
0:31:21 > 0:31:27But then the reason why this can be a four-bedroomed property.
0:31:27 > 0:31:30This one here is the one they call the fourth bedroom.
0:31:30 > 0:31:36It is actually a downstairs loo that's been adapted for a disabled person.
0:31:36 > 0:31:41So clearly, unless you want to keep it as a facility for a disabled person,
0:31:41 > 0:31:43there's a lot of work to sort this out.
0:31:43 > 0:31:46But at first glance, big ground floor.
0:31:48 > 0:31:51These areas could be made into a separate annexe.
0:31:51 > 0:31:55If you divided up the existing kitchen or put a smaller one in,
0:31:55 > 0:31:57everything's here for a separate unit.
0:31:57 > 0:32:03Alternatively, you could integrate it back into the house and make the downstairs bathroom a wet room.
0:32:03 > 0:32:05It's not far off that already.
0:32:06 > 0:32:10Upstairs there are three reasonably-sized rooms.
0:32:10 > 0:32:13Yes, they're in need of some modernisation
0:32:13 > 0:32:16and I'd certainly change the colour scheme,
0:32:16 > 0:32:19but it's not really too bad up here.
0:32:19 > 0:32:22Relatively smooth walls and all nice and bright.
0:32:22 > 0:32:27If you changed that bathroom suite, you'd have the makings of a great house.
0:32:27 > 0:32:29So a bit of work needed to sort out up there
0:32:29 > 0:32:31but good-sized rooms for sure.
0:32:31 > 0:32:34Downstairs, the lounge/living area.
0:32:34 > 0:32:37Again, a really nice open plan area.
0:32:37 > 0:32:41Fireplace could do with opening up to make a nice central point.
0:32:41 > 0:32:44Coming through to the rear of the property, in this room,
0:32:44 > 0:32:49again more evidence of the house's use as a place for a disabled person in the past.
0:32:49 > 0:32:55Again, through into what you hope is going to be quite exciting.
0:32:55 > 0:32:57It's a conservatory, but...
0:32:57 > 0:32:59You know, I don't think it's that well made.
0:32:59 > 0:33:04It's a bit disappointing because the basic thing you'd want is doors in there
0:33:04 > 0:33:06to open out into the garden.
0:33:06 > 0:33:08That's what you'd want. But before I did that,
0:33:08 > 0:33:11I'd check the structure of this. Doesn't look brilliant!
0:33:11 > 0:33:16This is crying out for French doors into that fair-sized garden.
0:33:17 > 0:33:20Like the rest of the house, it does need TLC,
0:33:20 > 0:33:24but it's a garden with loads of potential that needs to be realised.
0:33:24 > 0:33:27So I think there's a lot going for this place.
0:33:27 > 0:33:29What does the auctioneer who sold it think?
0:33:31 > 0:33:33It's an interesting property.
0:33:33 > 0:33:36Obviously started out just as a three-bed semi-detached.
0:33:36 > 0:33:41It's been extended because somebody has needed to adapt it
0:33:41 > 0:33:43for disabled person's use.
0:33:43 > 0:33:48So the extension at the back I guess was created as another bedroom
0:33:48 > 0:33:53with an en-suite facility with wheelchair access. Obviously,
0:33:53 > 0:33:56the ramp outside gives you access to the rear of the building.
0:33:56 > 0:34:01If you've got somebody who specifically wants the extra facility,
0:34:01 > 0:34:03for whatever reason,
0:34:03 > 0:34:05clearly it adds value.
0:34:05 > 0:34:09For somebody who doesn't want it, they won't pay you anything more for it.
0:34:11 > 0:34:15There is a concern that the current layout might put potential buyers off.
0:34:15 > 0:34:19But at that guide price of 78,000,
0:34:19 > 0:34:21could it still work as an investment?
0:34:21 > 0:34:24If you look at it as a four-bedroomed house
0:34:24 > 0:34:26with two bathroom facilities,
0:34:26 > 0:34:32I would say, renovated, it probably has a value of between 110 and £115,000.
0:34:33 > 0:34:34What about rental values?
0:34:36 > 0:34:40I would say that once brought up to a good standard,
0:34:40 > 0:34:45this would probably have a rental value of between 500 and £525 per calendar month.
0:34:47 > 0:34:51In the current market, I think the numbers perhaps favour rental.
0:34:51 > 0:34:53But both options could be viable.
0:34:56 > 0:35:00So, obviously, a house that's been set up for someone with special needs.
0:35:00 > 0:35:02And you may want to keep it like that.
0:35:02 > 0:35:07Alternatively, that rear room could easily be a dining room or that fourth bedroom.
0:35:07 > 0:35:10A house with opportunity and potential, then.
0:35:10 > 0:35:12Let's see who got it when it went under the hammer!
0:35:16 > 0:35:19Lot number 45. A four-bedroomed
0:35:19 > 0:35:21semi-detached house with two bathrooms.
0:35:21 > 0:35:25Also having gas central heating and uPVC double glazing.
0:35:25 > 0:35:2980? 75? Where you like. 75,000 is bid here.
0:35:29 > 0:35:31At £75,000.
0:35:31 > 0:35:35£75,000. 76 somewhere else? Four-bedroomed semi.
0:35:35 > 0:35:3876. 77 down the centre.
0:35:38 > 0:35:4178. 79. 80,000.
0:35:41 > 0:35:4281.
0:35:42 > 0:35:4482.
0:35:44 > 0:35:4583.
0:35:45 > 0:35:4783,000. Try one more?
0:35:47 > 0:35:4983,000. 84?
0:35:49 > 0:35:53At £83,000. 84 somewhere else?
0:35:53 > 0:35:5484.
0:35:54 > 0:35:5684,000. 85?
0:35:56 > 0:35:5785?
0:35:57 > 0:36:0184,000 in the centre. 85 quickly?
0:36:01 > 0:36:0285.
0:36:02 > 0:36:0485. 86?
0:36:04 > 0:36:08Is that it? £85,000, then. Going once.
0:36:08 > 0:36:10Twice. And a half.
0:36:10 > 0:36:1285 and a half.
0:36:13 > 0:36:1486?
0:36:14 > 0:36:1586.
0:36:16 > 0:36:1886,500?
0:36:18 > 0:36:2086,500.
0:36:20 > 0:36:2386-and-a-half thousand.
0:36:23 > 0:36:25Against you. Once, twice,
0:36:25 > 0:36:29third time. Sold at 86,500. Thank you.
0:36:29 > 0:36:33When the hammer fell at 86,500,
0:36:33 > 0:36:38the new owners of the Kirk Hallam house became married couple Sally and Frank.
0:36:42 > 0:36:45I met them back at the property to find out their plans.
0:36:46 > 0:36:50- Sally, Frank, great to meet you. Congratulations.- Thank you.
0:36:50 > 0:36:52Tell me why you wanted to buy the house.
0:36:52 > 0:36:54The reason we bought it
0:36:54 > 0:36:59is because in the long term, we're going to develop a few houses
0:36:59 > 0:37:02so we can actually move to Derbyshire.
0:37:02 > 0:37:05- OK. Where are you now? - We're in Bedfordshire.
0:37:06 > 0:37:11So the plan, then, is to what? Build a small portfolio of properties?
0:37:11 > 0:37:15Yeah, we just want to do this one, possibly sell it on.
0:37:15 > 0:37:19Then just build it up slowly, really, and go from there.
0:37:19 > 0:37:22We want to do it properly, full time, yeah.
0:37:22 > 0:37:25Long term, they can see themselves relocating to Derbyshire.
0:37:25 > 0:37:29But for now they're in Bedfordshire. That's hardly local to Derbyshire.
0:37:29 > 0:37:34In fact, it's about 83 miles, which is quite a round trip.
0:37:34 > 0:37:38But that's a mere hop compared with other places they've bought.
0:37:38 > 0:37:40What experience have you got so far?
0:37:40 > 0:37:45In property development, we've only done one, which was in Slovenia!
0:37:45 > 0:37:48Right. What did you do with that?
0:37:48 > 0:37:52Well, it was a really tatty old place. It was part of an old inn.
0:37:52 > 0:37:56The property has been separated into four different houses.
0:37:56 > 0:37:58Wow.
0:37:58 > 0:38:00So we had to get it developed.
0:38:00 > 0:38:05Luckily we found someone who was a heating engineer
0:38:05 > 0:38:08and he project managed from afar.
0:38:08 > 0:38:11What have you learned from that that you can bring to this?
0:38:11 > 0:38:14- Never buy a house with a cellar.- Oh?
0:38:14 > 0:38:17Bit sweeping, but fine!
0:38:17 > 0:38:22We had a terrible flood there, the worst flood in 150 years. A natural disaster.
0:38:22 > 0:38:23What damage did that do?
0:38:23 > 0:38:26Mainly just the cellar. It wasn't the ground floor.
0:38:26 > 0:38:31But it caused complications with neighbours.
0:38:31 > 0:38:33That's put you off cellars.
0:38:33 > 0:38:34- There's no cellar here.- No.
0:38:36 > 0:38:40But having dug themselves out of the problems with the place in Slovenia,
0:38:40 > 0:38:43their search has had them hunting all over the UK.
0:38:45 > 0:38:49- We had a day trip to Grimsby when we lived in Brighton, once!- For?
0:38:49 > 0:38:54- To look at houses.- We can't walk down the street without looking in an estate agent's window.
0:38:54 > 0:38:55Our daughter hates it!
0:38:55 > 0:38:58Fascinated. Our daughter does hate it.
0:38:58 > 0:39:01- From Brighton to Grimsby? - Just to have a look.
0:39:01 > 0:39:04- Six, seven hours?- Yes, I think so.
0:39:04 > 0:39:06Fish and chips and then back home.
0:39:06 > 0:39:09I hope they were good fish and chips!
0:39:09 > 0:39:14These two are clearly obsessed with property, and having seen a few in their time,
0:39:14 > 0:39:18I think they'll have a good idea of what they want to do here.
0:39:18 > 0:39:22We want to knock through the kitchen on the far side
0:39:22 > 0:39:27to make it an open area through into the lounge, dining room, all the way through.
0:39:27 > 0:39:33And we'll put a patio door in, straight out into the garden. New bathroom upstairs.
0:39:33 > 0:39:36General decoration throughout.
0:39:36 > 0:39:41- What kind of budget? - We're thinking 10,000.
0:39:42 > 0:39:49Well, £10,000 seems quite low to me. A swanky kitchen or bathroom could cost almost that.
0:39:49 > 0:39:52And with the distance they are from the property,
0:39:52 > 0:39:55it won't be easy to sort out all the tasks.
0:39:55 > 0:39:58- Who's going to do all the work? - Mainly myself.
0:39:58 > 0:40:00Right. Are you handy, then?
0:40:00 > 0:40:02I'm a decorator by trade.
0:40:02 > 0:40:06- OK.- So I can do decorating! - And I can. That's very handy.
0:40:06 > 0:40:10And I'm a caretaker at a large school in Bedfordshire.
0:40:10 > 0:40:13So I do bits and pieces.
0:40:13 > 0:40:15I can lay my hand to most things.
0:40:15 > 0:40:19But I do have three sons who I hope will come up and lend a hand.
0:40:19 > 0:40:22Sam was with us at the auction.
0:40:24 > 0:40:27- At the moment, he's doing his electrician's course.- Handy.
0:40:27 > 0:40:31The younger son is doing a plumbing course at the moment.
0:40:31 > 0:40:34- You're building your own...- Yes!
0:40:34 > 0:40:39- And the other one?- The oldest one, Tom, has just been made redundant.
0:40:39 > 0:40:43- So he's doing carpentry and joinery. - Excellent!- So it'll be OK.
0:40:43 > 0:40:46And as Sally's a former nurse,
0:40:46 > 0:40:49should there be any accidents, help is at hand.
0:40:49 > 0:40:52She's also going to be the interior designer here.
0:40:52 > 0:40:55So if they could get one son to marry an estate agent,
0:40:55 > 0:40:58another a lawyer and a third a lettings agent,
0:40:58 > 0:41:02they'd be well on their way to being the perfect property developing family.
0:41:02 > 0:41:06Well, an interesting project for Frank and Sally to take on.
0:41:06 > 0:41:09The house itself is going to do fine for them,
0:41:09 > 0:41:14but I'm a bit concerned because any project you do in weekends, spare time,
0:41:14 > 0:41:16and when you live a fair old way away,
0:41:16 > 0:41:18puts extra pressure on.
0:41:18 > 0:41:20And that budget of £10,000,
0:41:20 > 0:41:23will they come in in or around it?
0:41:23 > 0:41:26Find out later in the show.
0:41:28 > 0:41:32The months have gone by and we can't wait to see how our buyers have got on.
0:41:32 > 0:41:36But will we find a finished masterpiece or a blank canvas?
0:41:36 > 0:41:38Let's find out.
0:41:42 > 0:41:45It was in the pretty village of Bromham in Wiltshire
0:41:45 > 0:41:47that school was definitely out
0:41:47 > 0:41:51but unfortunately, 1980s conversions were in.
0:41:51 > 0:41:55And I'm not talking inches to centimetres, but small, dated kitchens
0:41:55 > 0:41:57and tired old bathrooms.
0:41:57 > 0:42:02Now, for some of us, returning to school is the stuff of nightmares,
0:42:02 > 0:42:04but not for local farrier, Nigel.
0:42:04 > 0:42:08He was delighted to make this old school his first property purchase
0:42:08 > 0:42:11at £90,500.
0:42:11 > 0:42:14With his farrier business just up the road,
0:42:14 > 0:42:16this was the ideal house for him.
0:42:16 > 0:42:19He felt sure he could beat it back into shape
0:42:19 > 0:42:21and breathe new life into it.
0:42:21 > 0:42:23So, five months on,
0:42:23 > 0:42:25we're back to mark his homework!
0:42:25 > 0:42:30Well, the outside, at least, has not changed significantly.
0:42:30 > 0:42:32But inside...
0:42:36 > 0:42:40Wow. There's been an impressive transformation.
0:42:40 > 0:42:43It's been decorated and there are new wooden floors
0:42:43 > 0:42:47but most strikingly, Nigel has opened up the kitchen.
0:42:48 > 0:42:52As you probably remember, when we first got the property,
0:42:52 > 0:42:55the kitchen was a separate room to the rest of the property,
0:42:55 > 0:43:00with a doorway to this side of it and a wall across here.
0:43:00 > 0:43:04We took the wall down which involved putting a lintel in at the top,
0:43:04 > 0:43:07a concrete lintel to support the ceiling.
0:43:07 > 0:43:10It makes the kitchen a lot lighter and airier
0:43:10 > 0:43:13and if I've got people in, it's more sociable.
0:43:13 > 0:43:18I'm not locked away in a different room if I'm doing anything in the kitchen.
0:43:18 > 0:43:22I think it's made a big improvement to the general ambience of the property.
0:43:22 > 0:43:25So the kitchen's come on in leaps and bounds.
0:43:25 > 0:43:27But what about the bathroom?
0:43:27 > 0:43:29He had ambitious plans for that, too.
0:43:31 > 0:43:35Originally we thought about making it a wet room, the entire room.
0:43:35 > 0:43:42But when we looked into it, it was too difficult cos we'd have had to replace the whole water system.
0:43:42 > 0:43:44The pressure on the hot water wasn't enough
0:43:44 > 0:43:48to put the right fittings into it if we'd gone that way.
0:43:48 > 0:43:51I was never very keen on the wet room idea.
0:43:51 > 0:43:54Give me a bath and a bathroom any day.
0:44:01 > 0:44:04Upstairs, the double staircase remains
0:44:04 > 0:44:07but has been smartened up with a new colour scheme.
0:44:20 > 0:44:24And with fresh paintwork and new carpets,
0:44:24 > 0:44:27the two bedrooms feel so much brighter and lighter.
0:44:43 > 0:44:49Nigel has opted for a more radical approach in what was the unkempt garden.
0:44:51 > 0:44:57Outside of the property, as you may remember, it was just a gravel area
0:44:57 > 0:45:01with a few weeds, mud, not much else.
0:45:01 > 0:45:07I didn't want the hassle of having to maintain a garden area
0:45:07 > 0:45:12and for the size of it, we decided just to go with decking for the entire area.
0:45:12 > 0:45:16It's easy, maintenance free, easy to keep clean and tidy,
0:45:16 > 0:45:19ideal for socialising in the summer.
0:45:21 > 0:45:25Nigel has refurbished this house so that it works for him
0:45:25 > 0:45:27and his lifestyle.
0:45:27 > 0:45:30He had a similar approach to his working style.
0:45:32 > 0:45:37Luckily, although I do work full time, I work for myself.
0:45:37 > 0:45:42So I could work in around times when I had to be here
0:45:42 > 0:45:46if there were people here doing things and I needed to be about.
0:45:46 > 0:45:49I'd come in on my way back from work for a couple of hours evenings.
0:45:49 > 0:45:52And get on and do some jobs weekends. My dad was here
0:45:52 > 0:45:55virtually full time for four weeks.
0:45:55 > 0:45:59And then friends and family helped out as well.
0:46:00 > 0:46:07So after a day shoeing horses, Nigel can put his own feet up and relax in his new home.
0:46:07 > 0:46:10But getting it just right for him came at a price.
0:46:10 > 0:46:16We started off aiming to keep to a budget of around £6,000.
0:46:16 > 0:46:21And I think we kept to that to within a thousand.
0:46:22 > 0:46:25He paid £90,500 for the property
0:46:25 > 0:46:28and spent another £7,000 on it, which, with costs and fees
0:46:28 > 0:46:31will bring his total to around 100,000.
0:46:31 > 0:46:36So it's time to bring in the school inspectors - no, not from Ofsted -
0:46:36 > 0:46:38but two local estate agents.
0:46:38 > 0:46:41Is this a case of "Well done!" or "Could do better"?
0:46:41 > 0:46:45Having seen the property before, it looks a good deal different
0:46:45 > 0:46:47from the property we sold to them.
0:46:47 > 0:46:51It's a lot more contemporary. Before, it felt like a 1980s conversion.
0:46:51 > 0:46:56Now it's more modern, it's been tastefully done, the work that's been carried out.
0:46:56 > 0:47:01It's a lovely property. They've done a good job, especially with the decor.
0:47:01 > 0:47:04It will appeal to a very wide market initially.
0:47:04 > 0:47:06Yeah, top marks.
0:47:06 > 0:47:09Well, that sounds like an A-plus mark to me.
0:47:09 > 0:47:11But will that translate into profit
0:47:11 > 0:47:16with Nigel investing 100,000 to make this top class?
0:47:16 > 0:47:20If I were to put it up for sale, it's a completely individual house.
0:47:20 > 0:47:23It has a limited market. But for the right person,
0:47:23 > 0:47:26I feel they'd be willing to pay in the region of £140,000.
0:47:26 > 0:47:28If I was to put this on the market today,
0:47:28 > 0:47:34with current market conditions, I'd expect somewhere in the region of 160 to £165,000.
0:47:34 > 0:47:38Great! That's a potential 40 to 60,000 profit.
0:47:38 > 0:47:41So if this was a property development project,
0:47:41 > 0:47:43Nigel would definitely be a star pupil.
0:47:43 > 0:47:46What does he think of his school report?
0:47:47 > 0:47:48They sound fantastic to me.
0:47:48 > 0:47:51More than I was expecting.
0:47:51 > 0:47:53I'm very pleased with it.
0:47:53 > 0:47:58If I do decide to sell it, it's nice to know I can make some money on it.
0:47:58 > 0:48:01For the time being at least, this house is not for sale.
0:48:01 > 0:48:05It's Nigel's home, and his first step on the property ladder.
0:48:08 > 0:48:10I'm ecstatic with the results.
0:48:10 > 0:48:15I never expected to get a property of this type for the money it's costed me.
0:48:15 > 0:48:18So it's all worked out well.
0:48:18 > 0:48:23Well, he can definitely chalk this project up as a successful investment.
0:48:23 > 0:48:27For him, at least, going back to school really has paid dividends.
0:48:39 > 0:48:42In the Ilkeston area of Kirk Hallam, Derbyshire,
0:48:42 > 0:48:44sat a solid four-bed semi.
0:48:44 > 0:48:48Although this house needed some renovation,
0:48:48 > 0:48:54it had been adapted for wheelchair use, so it came with an extension and a downstairs bathroom.
0:48:54 > 0:48:57This meant it was a decent size and offered some options
0:48:57 > 0:48:59either as a rental or re-sale property.
0:48:59 > 0:49:02Husband and wife team Frank and Sally
0:49:02 > 0:49:06felt it was just right to be their first UK development project.
0:49:06 > 0:49:10They paid £86,500 for it at auction
0:49:10 > 0:49:13and were prepared to go quite a few extra miles
0:49:13 > 0:49:14to make this successful.
0:49:15 > 0:49:19The reason we bought it is because in the long term
0:49:19 > 0:49:25we're going to develop a few houses so we can actually move to Derbyshire.
0:49:25 > 0:49:28- OK. Where are you now? - We're in Bedfordshire.
0:49:28 > 0:49:33But with 160-mile round trips and only weekends to do the work,
0:49:33 > 0:49:34this wasn't going to be easy.
0:49:34 > 0:49:39Six months on, how has their first Derbyshire property refurbishment fared?
0:49:39 > 0:49:43From the front at least, it's looking much more presentable.
0:49:43 > 0:49:46While inside, a more drastic approach was necessary.
0:49:46 > 0:49:50Actually, we've more or less ripped everything out.
0:49:50 > 0:49:52And in ripping out stuff,
0:49:52 > 0:49:56they've integrated the area previously arranged for wheelchair use.
0:49:56 > 0:50:00They kept the downstairs shower room and bedroom
0:50:00 > 0:50:02as either an extra bedroom with en-suite
0:50:02 > 0:50:05or as a possible reception room with study space.
0:50:06 > 0:50:09We've done the bathroom.
0:50:09 > 0:50:11And what an improvement.
0:50:11 > 0:50:13The dated suite has been replaced
0:50:13 > 0:50:16by something more modern and fresh.
0:50:17 > 0:50:20The kitchen we've had done complete.
0:50:20 > 0:50:22Boy, did the kitchen need changing.
0:50:22 > 0:50:26From wires hanging down from the ceiling and not many units,
0:50:26 > 0:50:30there's now a finished kitchen complete with integrated appliances.
0:50:30 > 0:50:33We've had most of it plastered.
0:50:33 > 0:50:35Replastering is such a good idea.
0:50:35 > 0:50:38It gives a clean, smooth finish throughout
0:50:38 > 0:50:40and makes the rooms look as good as new.
0:50:50 > 0:50:53And we've put new carpet in throughout.
0:50:53 > 0:50:56So the inside of the house is totally finished
0:50:56 > 0:50:58and ready to go.
0:50:58 > 0:51:00And the garden's been done totally.
0:51:05 > 0:51:07The garden has seen a big change.
0:51:07 > 0:51:12There used to be on this spot a workshop type garage
0:51:12 > 0:51:14which had to be taken down.
0:51:14 > 0:51:17But initially what we did
0:51:17 > 0:51:20was we had it completely fenced
0:51:20 > 0:51:21all the way around.
0:51:21 > 0:51:27And they removed all the shrubbery in the process
0:51:27 > 0:51:31because they had to due to the fact there was so much concrete in the way.
0:51:31 > 0:51:38We decided to have some turf put down because we thought it would look better than the original.
0:51:38 > 0:51:40It really was in a state.
0:51:40 > 0:51:46I think the whole garden now looks really good. We're very pleased with it.
0:51:46 > 0:51:50What works well here is that they've created a low maintenance space.
0:51:50 > 0:51:54Yet with different levels, they've made it interesting and different.
0:51:54 > 0:51:57But perhaps their biggest success is the kitchen.
0:51:57 > 0:52:01As you can see, this is the major change, really. We've knocked a wall down,
0:52:01 > 0:52:04creating an open space.
0:52:04 > 0:52:08We felt that it gave it a bit of a flow, really,
0:52:08 > 0:52:10and much more light.
0:52:10 > 0:52:14We've stripped the kitchen right back, plastered throughout.
0:52:14 > 0:52:18Obviously new flooring and plastered the ceiling.
0:52:18 > 0:52:21Integrated appliances everywhere.
0:52:21 > 0:52:26Just to give it a feeling of freshness, really, and good flow.
0:52:26 > 0:52:28I think they've done a great job here.
0:52:28 > 0:52:32But with those 160-mile round trips from Derbyshire to Bedfordshire
0:52:32 > 0:52:35they didn't make it easy on themselves!
0:52:35 > 0:52:38It took about an hour and a half, each Saturday morning.
0:52:38 > 0:52:41We left early and slept here.
0:52:41 > 0:52:43And went back Sunday afternoon.
0:52:43 > 0:52:45It was difficult. It was.
0:52:45 > 0:52:49You finish work and think, "Oh, the weekend." But then you have to get up at six
0:52:49 > 0:52:52and drive 83 miles up the road.
0:52:52 > 0:52:56And carry on and work even harder when you get here at the weekend.
0:52:56 > 0:52:58It was rather tiring.
0:52:58 > 0:53:04They'd planned to get their three sons, who are all learning the building trade, involved.
0:53:04 > 0:53:06However, they were too busy training
0:53:06 > 0:53:09so it was all down to a few local tradesmen
0:53:09 > 0:53:11but mainly Frank and Sally. How did that go?
0:53:11 > 0:53:15I quite enjoyed it. There's no-one telling you what to do.
0:53:15 > 0:53:16Well...
0:53:16 > 0:53:18Yeah!
0:53:18 > 0:53:20And it's quite good.
0:53:20 > 0:53:24You come up, turn the radio on, disappear into your own world.
0:53:24 > 0:53:27You did the project managing. You did a good job.
0:53:27 > 0:53:33I was trying to throw everything together, really, in an order so that it all happens.
0:53:33 > 0:53:37Which again is difficult when you're only here just at weekends.
0:53:37 > 0:53:42The pressure is on, when it's your own, to make it look really, really good.
0:53:42 > 0:53:46Frank's a decorator by trade, as well as a school caretaker.
0:53:46 > 0:53:50He's had to call on all his skills to carry out the renovation,
0:53:50 > 0:53:55while his wife Sally's training as a nurse may account for the care and attention to detail
0:53:55 > 0:53:57she's applied to the finish here.
0:53:57 > 0:54:01Between them, they successfully did a lot of the work,
0:54:01 > 0:54:05but new kitchens, bathrooms and landscape gardens don't come cheap.
0:54:05 > 0:54:06We've come in at 18,000.
0:54:06 > 0:54:10We think the reason for that is mainly the garden.
0:54:10 > 0:54:16In fact it took a heavier chunk of the budget, really.
0:54:17 > 0:54:20They paid £86,500 for the house
0:54:20 > 0:54:22and spent £18,000 on it.
0:54:22 > 0:54:25So, taking into account other costs and fees,
0:54:25 > 0:54:29Sally and Frank will have spent nearly 110,000 here.
0:54:29 > 0:54:33At present, they're undecided whether to rent out the property or sell it.
0:54:33 > 0:54:36Perhaps two local estate agents can help make up their minds.
0:54:36 > 0:54:39I like the house. It's great.
0:54:39 > 0:54:43It's done to a nice standard. Nice that they've had it replastered.
0:54:43 > 0:54:45Makes it look fresh and new. It looks nice.
0:54:45 > 0:54:49My first impression is it's been done to a very high standard.
0:54:49 > 0:54:52Very well presented. You could just move straight in.
0:54:52 > 0:54:56The only drawback I can see is there isn't any off-road parking.
0:54:56 > 0:54:58But there's room to create it.
0:54:58 > 0:55:02It's done to a very high standard. The kitchen and bathroom are modern.
0:55:02 > 0:55:04The garden is well presented.
0:55:04 > 0:55:08So, favourable feedback. But how will that translate into money
0:55:08 > 0:55:13bearing in mind they've invested nearly 110,000 on this four-bed house.
0:55:14 > 0:55:16If I were to put this on the market,
0:55:16 > 0:55:20I'd market it at 115,000 and expect to get fairly close to that price.
0:55:20 > 0:55:23I would value this property at £120,000.
0:55:23 > 0:55:25Hmm. Yeah.
0:55:25 > 0:55:28- That's...- That's more or less what we were expecting.
0:55:28 > 0:55:33At present, re-sale wouldn't produce much above the break even point.
0:55:33 > 0:55:37So would it fare better on the rental market?
0:55:37 > 0:55:39If we put this property on the market for rental,
0:55:39 > 0:55:42I'm sure we could achieve £525 per calendar month.
0:55:42 > 0:55:46I would value this property at £500 per calendar month.
0:55:46 > 0:55:49We had in mind 550, actually.
0:55:49 > 0:55:51Well, in fact, since we filmed,
0:55:51 > 0:55:53the couple have decided to sell.
0:55:53 > 0:55:57They've now accepted an offer of £115,000.
0:55:57 > 0:56:02That makes this a pretty promising start to their proposed property portfolio.
0:56:02 > 0:56:05It's been worthwhile as a first one, as a first venture.
0:56:05 > 0:56:10We're not disappointed. It's more or less what we imagined.
0:56:10 > 0:56:15We've probably spent more time than we should have done. And we spent more money.
0:56:15 > 0:56:19It's been the worst winter in three decades. Otherwise, it's gone according to plan!
0:56:19 > 0:56:23That's the way it goes, particularly in the property game.
0:56:23 > 0:56:26It's those unforeseen details which can catch you out.
0:56:26 > 0:56:30But the couple now seem to be back on track with their master plan.
0:56:30 > 0:56:35Our long-term plan is to move up here and continue developing on a full-time basis.
0:56:35 > 0:56:41And then be able to spend a bit more quality time in our home in Slovenia.
0:56:41 > 0:56:43So, for Frank and Sally,
0:56:43 > 0:56:45it's hopefully, "Slovenia, here we come!"
0:56:45 > 0:56:50But that's via Derbyshire, Bedfordshire and probably all points in between, of course!
0:56:53 > 0:57:00That's it for today's show. Join us next time for more tantalising tales from the auction rooms!
0:57:00 > 0:57:02- See you then!- Goodbye!- Goodbye!
0:57:23 > 0:57:26Subtitles by Red Bee Media Ltd