Episode 19 Homes Under the Hammer


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Episode 19

Martin Roberts and Lucy Alexander visit a house in Derby, a property in Gravesend, and a picturesque cottage in Dorset, and find out how much they sold for at auction.


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Transcript


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Hello. Whether you're a seasoned property developer or a first-timer,

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-you want to make sure you get value for money.

-That can be difficult in a fluctuating property market,

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and that's why more and more people are decided to buy at auction.

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Sometimes you know you've bought a bargain and sometimes you're not so sure.

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But the only way to find out is to test the market.

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Here's what today's buyers bought.

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'In Derby, I've spotted a perfect sledgehammer opportunity.'

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Take out this wall, create yourself a really nice kitchen/dining room area.

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'This property in Gravesend, Kent, is crying out for a modern touch.'

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It needs a whole new fresh update.

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'And I'm at this picturesque cottage in Dorset.

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'But is the inside as idyllic as the outside?

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-HE LAUGHS

-Fantastic.

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'All these properties have been sold at auction.

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'We find out who bought them and for how much when they went under the hammer.'

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'This is Derby in the East Midlands.

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'As a centre for the industrial revolution in the 18th century,

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'this city had one of the first factories in Britain and the first public park.

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'It's now a university city and development continues today

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'with the construction of a huge new shopping centre.

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'There are further plans for a new bus station and apartments on the riverside.'

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So, two miles from Derby City Centre and just a mile from the university

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is the property I'm here to see.

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Good start. Rental potential, possibly.

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It's a three-bed semi. Had a guide price of 115,000 quid.

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In need of a bit of updating. Looks all right from the outside.

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# Hey, good looking

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# Hey, good looking

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'It looks like a typical solidly-built 1930s semi from the outside

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'with the added benefit of most of the windows being already double-glazed.'

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So, through the front door, what have we go? Fairly nice hallway.

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I like the tiles on the floor. Stairs up to your bedrooms.

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A front reception room there. Gas fire. I'd like to see that opened up to create a nice-feeling place.

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A rear reception room there. We'll come to that in a minute, because I think that has scope.

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Where the property immediately starts to go horribly wrong is in the kitchen. It's very small,

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it's extremely dated, so rather than just replace this with alternative units,

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there isn't a lot of space to do that, why not do something a bit more serious?

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A couple of days with a sledgehammer and somebody who knows what they're doing,

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take out this wall, create yourself a really nice kitchen/dining room area.

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That would create a family area for this house and it's what it needs. Let's take a look upstairs.

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# I wanna be

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# Your sledgehammer

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# Why don't you call my name?

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So, upstairs, no great surprises, apart from the bathroom.

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It's actually a really good size. At the moment, there's just a bath, a basin and a loo.

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I think there's space for a free-standing shower unit, which would be not too expensive

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but a real bonus to have. Good-size double there.

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A box room here. And a third bedroom sort of a cross between the two.

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All in all, a lot of accommodation for the money,

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lots of light coming in through the windows, it's a nice house.

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'So far, so good. There's really no major work to be done here.

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'You could get away with just a cosmetic upgrade,

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'a new kitchen, bathroom and redecoration.

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'But I think this three-bed house has more to offer than meets the eye.'

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At the rear of the property, a lovely find, a really nice garden.

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It's tiered, it's got some lovely shrubs, mature bushes, good to see.

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Also at the back here, I think, some opportunity.

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At the moment, there's this little porch area

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and a fairly shabby exterior toilet.

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Knock those down, replace them with a slightly larger extension.

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On a semi-detached like this, you can come out three metres without getting planning permission.

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That's definitely worth doing. In terms of two-storey, I think that would add too much to the price.

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But single-storey on there, sort out the garden a little bit and you've got yourself a lovely house.

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'You could also do some work on the front.'

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One improvement you might consider doing is to put on off-street parking in the front here.

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You'd have to lower the kerb, apply to the council to do that, take down this wall.

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It's going to be a process that's going to take you about 12 weeks.

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As long as you put down a porous driveway, you don't have to have planning permission. Is it worth it?

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Sounds like a lot of effort to me, but it can add quite a lot of value and saleability to the property.

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'Lots of positives and loads of scope here, then.

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'But what will potential buyers make of the place?

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'I asked the auctioneer who sold it for his opinion.'

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I think there are two main issues with this house in terms of

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making the best out of it. Firstly, you have to get off-road parking,

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and a lot of people have converted their front gardens into forecourts for that purpose.

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I don't think you'd get more than one car on, but one is better than nothing.

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The other thing is, it needs some sort of extension at the back.

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There isn't sufficient space to go sideways.

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Many of these properties have been extended to the back,

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but I think, logically, you'd probably only do a single-storey extension,

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which means the upstairs accommodation stays as it is.

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'In rental terms, what could be achieved here?'

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If you were upgrading the house to let it out as a single unit,

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it would have a rental of about £600 per calendar month.

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If you rented it out to students, you would get £55 per week per room,

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probably not over a full 12-month period.

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It might be a retainer basis over the summer.

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And I suppose you could probably rent out four rooms here.

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'So, as a student let, you'd earn around £880 per calendar month

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'if you rented out the front reception room as a bedroom.

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'But what about its resale value,

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'bearing in mind its guide price at auction was £115,000?'

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I think, if you refurbish the house as it stands now,

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you could probably push its value up to about £165,000,

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but you'd have to do the job really properly to achieve that.

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With a single-storey extension on the back to enlarge the rear living room and the kitchen,

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which would be very sensible but quite pricey, unless you could do it at cost,

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you could probably push it up to about £180,000.

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So, all in all, a pretty solid little house.

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Yeah, there's improvements I'd make, but I reckon you could just tart this place up and rent it out.

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Let's go to the auction and see who bought it.

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Lot 78. Start me at 115.

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115. Thank you, £115,000.

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116 somewhere? 116.

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116, thank you. 117.

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118. 119.

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120. 120,000.

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21 I've got. 122.

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23. 123. 124.

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125. 126 in the corner.

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127 in front of me. 128.

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129. 130. 131 on the right.

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131. 132.

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Either of you? 133. 133. Bids are yours.

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134 in front of me. 135.

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136 I've got. 137.

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137. 138.

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139. £140,000.

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141. 142. 500.

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143. 500.

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144. 500.

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145. 500.

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146. 146,500.

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147. 500.

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148?

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148,000. No?

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148. Sure?

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148,000 once.

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Twice. Third time. Sold at 148.

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'That final bid of £148,000, £33,000 over the guide price, was made by Doug.

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'He and his wife Jo have bought the house together.

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'Jo is originally from Ireland and is a retired care worker,

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'while Doug used to own and run a large dairy farm.

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'So why are this couple buying a semi in the suburbs of Derby?

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'After all, there's not much room in the garden for livestock.

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'I met them back at their purchase to find out more.'

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Doug, Jo, lovely to meet you both. Congratulations. Nice little place.

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-Yes, we think so.

-Yes.

-Tell me why you wanted to buy it.

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Erm, well, we buy a lot of properties to rent out, really,

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around this area especially, and we usually let them to students

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and, of course, the university is only up the road

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and the town centre is only down the road, really.

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-So why this particular property?

-Well, it looked a good investment

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and we thought we'd go for it and do it up and sell it.

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And then we thought, the market doesn't seem to be moving much,

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so maybe we'll let it out to professionals, go down a different route with this one.

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And I would love to get a professional person in

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that will look after this lovely little garden.

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How did you get into property developing?

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Well, when I was full-time farming, I decided to pack most of it in

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-and invest in the houses.

-Right.

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-So no more early mornings.

-No, no. No more five o'clocks.

-Right.

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-Why did you choose to go into property?

-We thought it was a good thing at the time, good investments

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-and they have turned out to be.

-How are you going to sort the place out?

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We're going to... Because the kitchen is quite narrow,

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we're going to knock it all through and make it into a sort of dining/kitchen.

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And the bathroom is quite a good size and we're going to turn that into a bedroom.

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And one of the bedrooms is more like a little study

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-and we're going to make that into the bathroom.

-Oh, OK.

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'So, great ideas which should maximise the space in the property as it is.

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'That should attract that kind of professional tenants they're after, but that's not all.

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'Although they don't intend to create off-street parking at the front,

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'they've got plans for around the back.'

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-So what about an extension?

-Yes, that's what we are doing.

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Out to where the old toilet is.

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And make it into a bigger kitchen.

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'The couple expect to spend around £15,000 and be finished in three months.

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'That doesn't sound a lot for a full refurbishment and an extension,

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'but they have a handy helper on board.'

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My son, Paul, will do the work, because he's a builder anyway

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and he's got a good team that works with him.

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He does all our maintenance with our student houses.

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-Congratulations, good luck with it, and we look forward to seeing how you get on.

-BOTH: Thank you.

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Well, handy having a builder in the family who can do the work,

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but a bit of a departure from the norm of letting out to students for Doug and Jo.

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And will they end up renting it out or selling it on?

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You can find out later in the show.

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'I'm in the town of Gravesend in Kent.

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'Set on the banks of the Thames, it's within easy commuting distance to London.

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'It's home to the world's oldest cast-iron pier

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'and is also the last resting place of the legendary Pocahontas.

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'She was the daughter of a Native American chief

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'who was the first such person to visit England.'

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Gravesend is the closest major town to Ebbsfleet International Train Station

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which is just two and a half miles away, so you can now get from here to London in around 20 minutes.

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Or you could opt to travel on to Paris instead.

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Regardone a la propriete, or let's go and look at the property.

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'Unfortunately, the approach road isn't the most attractive.

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'It's all garages and graffiti. But don't let that put you off this place.'

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Once you're actually inside this cul-de-sac, well, it's not bad at all.

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I'm here to see this purpose-built flat.

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It's on the ground floor, it's got two bedrooms and it had a guide price of £55,000 to £60,000.

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Let's get a good old look around inside.

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'This property comes with a nice little garden round the back,

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'complete with a little shed. But what's it like inside?'

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OK, look beyond the dated decor, look beyond the electric heater

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and look at this lovely wide hallway.

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First impressions to me, this is good, I really like it.

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It offers loads of space. You've got a really good size double bedroom to the front

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and through here is the sitting room. This is a great size.

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You've got to remember, as well, this flat was built in the 60s

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so there are no beautiful architectural features,

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but what you do have is lovely, big, square rooms.

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I think, once you've thought about the cost of the heating and the general upgrading the flat needs,

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you've got yourself a good little property here, and if you get it anywhere near the guide price

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of £55,000 to £60,000, it could be a bit of a winner.

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'The bathroom is at the back, as is the second bedroom.

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'They need modernising, but at least they're not bad sizes.'

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So here's the little kitchen, tucked at the back of the property.

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A back door leading out to a pretty garden.

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If this were my flat, I don't think I would want to change that much.

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The layout's pretty good, although I would strip this place back to the bare bone.

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As you can see, it's incredibly dated, you've got strip lighting, it needs a whole new, fresh update.

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But then you'd have a really nice, spacious two-bedroom flat here.

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'So far, this property's ticking all the boxes

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'and its guide price of £55,000 to £60,000 makes it even more appealing.

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'But it's not all good news.'

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Now, one major issue with this property is that it only has a short lease.

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There's only 49 years left remaining.

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So this means that the flat is unmortgageable at the moment.

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However, once you've owned it for two years,

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you can apply to the freeholder to extend the leasehold.

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Of course, there will be a charge for this, and generally speaking,

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the shorter the lease left, the more it will cost.

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And the greater the market value of the property, the larger the fee.

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But a new longer lease will increase the value of this flat

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and it will make it much easier to sell on.

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So, in my opinion, it's worth doing.

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# Time

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# Waits for no-one

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# If you wait too long

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# You could turn around and I'll be gone, gone, gone

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'So the purchaser of this flat will need to keep that in mind when budgeting,

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'not only for the renovation work, but also for that extension.

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'What does a local property expert make of this place?

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-'We asked one along to tell us.'

-# Time, time, time

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It would benefit from... I'd say to take down all the wallpaper,

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redo the floor, kitchen, bathroom, tidy up and it'll be perfect.

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'How could the 49-year lease affect the property's new owner?'

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It would always be beneficial to look into that before you make your purchase,

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because you might incur large legal bills if you've made your purchase and then look at extending the lease

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and, at the same time, there's a cost involved with extending the lease.

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'That cost could be anywhere between £5,000 and £15,000.

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'With this in mind, how much does she think this ground-floor flat could sell for?'

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Once the property's renovated and the lease is extended,

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I would expect to achieve around the £125,000 mark.

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'What if the purchaser decided to rent it out?'

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This property would rent very easily and I would expect to achieve around £600 per calendar month.

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This flat needs a cosmetic overhaul, but that's pretty much all you can do with it.

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I wouldn't start knocking walls down. And, don't forget, there's also the issue with the short lease.

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So were the bidders put off or did they buy? Let's find out when we head to auction.

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Onto lot 141. Where do you want to bid me?

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Start me at 60. 60. And 2. 62.

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62. And 4.

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66 at the back. 68.

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It's against all of you in the front. 68, it's with you. 70 I have. And 2

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72. I've got. And 4. 74 at the back.

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76 at the back. 77.

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And 8 at the back. 8 I have.

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79. And 80.

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80 I've got. 81 against you at the back.

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82. 83 in a fresh place on my right.

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84 now. At 84.

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-HE LAUGHS

-Well, I've got 84 from you, madam, at the back.

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You were just ahead. 84. 85.

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It's against all of you now. 86 I've got.

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88, it's against you at the back. At 88.

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For the first time at £86,000.

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For the second time at 86. Are you coming back one more time?

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For the third and final time, if you're sure you're all done.

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There we are, 88,000 in a brand new place on the left.

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90. This was a popular lot, wasn't it? Are you going to go for 90?

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90, get there first. 90 I've got. And 2. 92.

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92. And 4. 94.

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95. 96.

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You've got 96. And 7.

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97. You can't say no now.

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One more, 97,000. 97.

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One more go and you might get it. Go on, 97.

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I can't work without you. Well done. 97 I've got.

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And 8. 98.

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He's shaking his head, there you go, I've done you a favour. At £97,000 for the first time.

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97,000 for the second. Third and final time, if all of you are done.

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-Third and final time.

-HAMMER BANGS

-It's your at £97,000.

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'That final excited bid of 97,000 came from Kevin,

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'who let his son Chris do the bidding.

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'Kevin and his brother Andrew have been property developers for over 20 years now.

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'In fact, we first met them on the programme in 2004.

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'Now, six years on, we've caught up with the brothers at their latest purchase to find out their plans.'

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Guys, lovely to see you again. I'm glad to see you've weathered the storm of the property market

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-and you're still out there buying.

-We're still in, holding on.

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-What were you doing at the auction? Obviously buying this.

-I went with my son.

-He was bidding!

-Yeah.

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Got a bit carried away and paid a bit more than I should've done,

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-but we're pleased with it.

-I wasn't there to keep an eye on him.

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Wait a minute. You went along, you didn't go, you took your son.

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-I did.

-You let him bid far too much for the property.

-He got carried away.

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-Was it him that got carried away or you?

-No, it was him.

0:20:230:20:26

-But I've got to pay the consequences.

-How much had you set in your minds to pay for the property?

0:20:260:20:33

We initially said about 90 top.

0:20:330:20:37

But we just went that little bit more.

0:20:370:20:40

'The success of this developing duo,

0:20:410:20:44

'who have around 18 rental properties in their portfolio,

0:20:440:20:47

'seems to be down to good teamwork.

0:20:470:20:50

'Kevin manages the finances whilst it looks like Andrew may have drawn the short straw.'

0:20:500:20:55

-Who does the actual properties up?

-Andrew.

-So you do all the hard graft.

-About 90 percent of it.

0:20:560:21:03

-Does that annoy you?

-No. Well, I'm the better one at it.

-I can't do anything.

0:21:030:21:10

He'll strip the wallpaper and I'll do the rest.

0:21:100:21:13

So what are you going to do with this flat?

0:21:130:21:16

Pretty much the usual. We're going to strip it all out,

0:21:160:21:20

replaster all the ceilings, all the walls,

0:21:200:21:22

put in extra sockets where need be, cos there's only a limited amount,

0:21:220:21:26

-new kitchen, new bathroom, and it should look really nice.

-And central heating.

0:21:260:21:30

-Oh, yeah, and central heating.

-What are you going to do to really make it stand out?

0:21:300:21:34

Because you don't have any hidden little features, do you? It's got that 60s feel to it.

0:21:340:21:40

We'll just try and make the kitchen as nice as we can, the bathroom as nice as we can and...

0:21:400:21:45

-Make it look more modern.

-Yeah.

-What's your timescale? How long will it take to get this place sorted?

0:21:450:21:51

We should be able to do it in about six weeks, hopefully.

0:21:510:21:54

Yeah, from start to finish, about six weeks.

0:21:540:21:57

'They have an estimated budget of around £4,000 to £5,000 for the work.

0:21:590:22:03

'Kevin thinks it will cost another £9,000 to extend that 49-year lease.

0:22:030:22:08

'But remember, they'll have to wait two years before they can actually do this.'

0:22:080:22:12

Guys, good luck. Let's hope it's not another six years before I see you again.

0:22:130:22:17

-Thank you.

-Cheers.

-Well done. Thanks.

0:22:170:22:20

It's good to know Kevin and Andrew have managed to weather the property storms of the last few years

0:22:210:22:26

and that their brotherly partnership is still going strong.

0:22:260:22:30

Although I do think they might have paid top dollar for this flat,

0:22:300:22:34

so they will really need to watch their budget when they renovate.

0:22:340:22:37

You can find out how they get on later in the programme.

0:22:370:22:41

'Coming up, I'm in my element at this cottage in Dorset.'

0:22:420:22:45

It's higgledy-piggledy, it's quirky, it's got so much character.

0:22:460:22:51

'Back in Gravesend, not everything's been going to plan.'

0:22:510:22:55

We had the carpet fitter laying all the carpets and just as he was about to finish,

0:22:550:22:59

he'd gone through one of the central heating pipes.

0:22:590:23:03

'But first, in Derby, Jo's builder gets high praise.'

0:23:030:23:07

We're always very pleased with his work. That might sound biased, cos he's my son.

0:23:070:23:11

'We return to Derby now, where this three-bed semi sold at auction for £148,000.

0:23:150:23:21

'It was bought by Jo and Doug, who are spending their retirement investing in property.

0:23:230:23:29

'That's certainly a world away from Doug's previous life as a dairy farmer.

0:23:290:23:33

'They often rent their properties out to students, but they had different ideas this time around.'

0:23:360:23:42

I would love to get a professional person in who will look after this lovely little garden.

0:23:450:23:50

'When we last met them, it was in the height of summer.

0:23:500:23:53

'Now, five months later, the garden may not be in full bloom,

0:23:530:23:57

'but has the interior of the house blossomed?

0:23:570:24:00

'We caught up with them to find out.'

0:24:000:24:03

# The sun and rain

0:24:040:24:07

# Fell from up above

0:24:070:24:11

# And landed on the earth below

0:24:110:24:14

# In my garden of love

0:24:140:24:16

'As you can see, the living room has been transformed

0:24:160:24:19

'into a modern, bright living space

0:24:190:24:22

'with brand new flooring and a chic new fireplace.

0:24:220:24:26

'The back room has been turned into a dining space with new patio doors

0:24:270:24:32

'so you can enjoy a full view of that garden from the comfort of a warm living room.

0:24:320:24:37

'And they've been busy upstairs, as well.'

0:24:370:24:41

Originally, there was two good size bedrooms and a box room

0:24:420:24:47

and we thought if we moved the bathroom into the box room, it would make sense,

0:24:470:24:52

because then we'd have three good size bedrooms.

0:24:520:24:55

Funnily enough, now that the bathroom is in the box room,

0:24:550:24:59

it makes the box room look bigger.

0:24:590:25:01

'The small, cramped kitchen downstairs has also benefitted from a rejig

0:25:020:25:07

'and is now a much more spacious room

0:25:070:25:10

'with a wall knocked through to open it up into the dining area.

0:25:100:25:13

'It's brighter, more modern and much more appealing.'

0:25:130:25:16

Well, the kitchen was very small and narrow

0:25:190:25:23

and we decided, because we'd got an outside loo and a lean-to that needed something doing with it,

0:25:230:25:30

cos it was rubbish, we had a door going out into the yard here

0:25:300:25:36

but we decided to not have a door, just put a nice window there,

0:25:360:25:39

so we're looking out into the garden.

0:25:390:25:41

We had a window here that we removed

0:25:410:25:46

and put these patio doors going out into the yard,

0:25:460:25:50

which I think suits the property and is very modern, as well.

0:25:500:25:56

'The finished result isn't just modern, it's also of a very high standard,

0:25:560:26:00

'as all the work was done by Jo and Doug's builder son, Paul.

0:26:000:26:04

'He insists on nothing but the best.'

0:26:040:26:07

He does go for a high standard always.

0:26:100:26:12

He's a bit of a perfectionist when it comes to doing the houses up for us.

0:26:120:26:16

Sometimes I think he takes a bit too long

0:26:160:26:19

but he always says it's better to do it right than cut corners.

0:26:190:26:23

He's very particular and likes to have it all spot-on

0:26:230:26:27

so he doesn't have to come back and do any of it again.

0:26:270:26:31

We're always very pleased with his work.

0:26:310:26:33

That might sound biased, because he's my son, but...

0:26:330:26:36

-SHE LAUGHS

-But, you know, he does a marvellous job,

0:26:360:26:42

-so thank you, Paul, very much.

-SHE LAUGHS

0:26:420:26:46

# I want to thank you

0:26:470:26:48

# For being so nice

0:26:480:26:51

'Because of other work commitments,

0:26:510:26:53

'Paul wasn't able to do the job within the two to three months timescale.

0:26:530:26:58

'It's taken nearer five months.

0:26:580:27:00

'But did the project go over that £15,000 budget?'

0:27:000:27:04

It has mounted up to about 19 now, unfortunately.

0:27:070:27:13

But then, saying that, sometimes I think when people say, "It's only going to take £5,000 to £10,000,"

0:27:130:27:22

I think they can't be doing a proper job, personally.

0:27:220:27:27

So you only get what you pay for, really.

0:27:270:27:31

'But has their money been well spent?

0:27:320:27:35

'We asked along two local property experts

0:27:350:27:38

'to tell us what they think of it now.'

0:27:380:27:40

First impressions are great. The property has been finished

0:27:460:27:50

to a very high standard and it's all very neutral, ready to move into.

0:27:500:27:54

It's a lovely property. It's had a really nice scheme of modernisation

0:27:540:27:58

and updating carried out, it's a traditional house,

0:27:580:28:01

popular location, I think it will go very well on the market.

0:28:010:28:05

I think the open space of the kitchen and dining area is fantastic.

0:28:050:28:09

It's a very usable space and going out onto the garden is a fantastic idea.

0:28:090:28:14

The bathroom's got a lovely hotel feel to it.

0:28:140:28:18

Nice big tiles, white suite, very clean. Perfect for this property.

0:28:180:28:22

'How much value do the experts think the renovation has added to the house?

0:28:230:28:27

'Remember, Jo and Doug paid £148,000 at auction

0:28:270:28:31

'and have spent about £19,000 on the work,

0:28:310:28:34

'making a total outlay of around £167,000.'

0:28:340:28:39

If we were to put this property on the market, we would expect it to achieve around £180,000.

0:28:400:28:45

I would expect to sell the property at approximately £180,000.

0:28:450:28:50

-That's round about what we thought.

-Mm. Very good indeed.

0:28:500:28:53

'But in the current climate, Jo and Doug have decided to sit tight and let the property out,

0:28:540:29:00

'preferably to professionals if they can, but they may consider students otherwise.

0:29:000:29:05

'How much rent could they expect to charge.'

0:29:050:29:07

If you were to let this property to professionals, I would expect a rental figure

0:29:110:29:15

of approximately £650 per calendar month.

0:29:150:29:18

To students, you can expect a lot more.

0:29:180:29:20

However, the wear and tear on the property is considerably more.

0:29:200:29:23

But I would expect to achieve up to about £900 per calendar month.

0:29:230:29:28

If you were to let the property to professional people,

0:29:280:29:31

I'd expect you would achieve around £600 per calendar month.

0:29:310:29:35

If you were to let the property to students,

0:29:350:29:38

I would expect you would achieve more like £1,000 a month.

0:29:380:29:41

We would actually hope for a bit more, private letting.

0:29:410:29:45

Yes, we would. It's a bit low, that is.

0:29:450:29:48

Yes, it is rather. So we'll just have to see what happens.

0:29:480:29:54

'Going by these valuations alone,

0:29:540:29:57

'they would make a higher yield of over six percent with student lets for around 44 weeks of the year

0:29:570:30:03

'than the four to five percent they'd get for a year-round professional let.

0:30:030:30:07

'So, some serious thinking for Jo and Doug to do,

0:30:070:30:10

'but it certainly hasn't put them off developing further properties.'

0:30:100:30:14

Well, it's keeping me young in some ways, because it's keeping my mind active. I enjoy it.

0:30:160:30:22

-It's just I get tired sometimes, which is to be expected at my age.

-SHE LAUGHS

0:30:220:30:29

# Lust for life

0:30:290:30:31

# Got a lust for life

0:30:330:30:35

I'm in the village of Wimborne in Dorset in the southwest of England,

0:30:410:30:46

and glorious it is, too, even when they're building houses just across the road there.

0:30:460:30:50

I'm here to see a property that's of non-standard construction.

0:30:500:30:55

Collective gasps I hear! But don't worry, my little hammers,

0:30:550:30:59

this one, I assure you, is very mortgageable

0:30:590:31:02

and worth every penny of the £275,000 guide price.

0:31:020:31:07

'The property I'm here to see sounds absolutely delightful.

0:31:070:31:12

'It's a grade II listed thatched cottage with three to four bedrooms.

0:31:120:31:17

'It's in a lovely, secluded spot and I can't wait to see it.'

0:31:170:31:20

The property is actually hidden up this little pathway.

0:31:200:31:24

You come through this hedge and then... Oh, wow!

0:31:240:31:29

Look at that!

0:31:290:31:32

Hansel and Gretel, here we come. I just hope it lives up to expectations on the inside.

0:31:320:31:38

# Because you're gorgeous

0:31:380:31:42

# I'd do anything for you

0:31:420:31:45

'This cottage is simply breathtaking.

0:31:450:31:48

'With its glorious thatched roof and cute little porch,

0:31:480:31:52

'it's like something from a fairytale.'

0:31:520:31:54

-HE LAUGHS

-Fantastic.

0:32:010:32:03

You know, that's just brilliant.

0:32:050:32:07

Often you come into a house that looks so beautiful from the outside

0:32:070:32:10

and the inside has been so messed about.

0:32:100:32:12

-What a delight.

-HE LAUGHS

-This is really incredible.

0:32:120:32:18

Look, fantastic old beams. And look at that fireplace.

0:32:180:32:22

I'm sold already. I don't need to see anything else.

0:32:220:32:25

Just this inglenook fireplace. My goodness. Look, it's even got the old bread oven, a place to sit.

0:32:250:32:30

It's obviously had this new wood-burning stove put in to make it more practical.

0:32:300:32:34

What a find!

0:32:340:32:36

# And my heart is heavy

0:32:360:32:39

# As I gaze upon

0:32:390:32:41

# A cottage for sale

0:32:430:32:46

'OK, so, looking beyond its obvious charm, which is hard to do,

0:32:460:32:51

'are there any problems here?

0:32:510:32:53

'Well, there is damp in the sitting room, dining room, kitchen and bathroom.

0:32:530:32:57

'All need extensive work.

0:32:570:32:59

'But I just love the quirky character of the cottage.

0:32:590:33:03

'It'll need a lot of money spent on it, but my word, it'll be spectacular when it's done.'

0:33:030:33:09

This property is clearly everything that a modern house isn't.

0:33:100:33:15

It's higgledy-piggledy, it's quirky, it's got so much character you just don't know what do to with it.

0:33:150:33:22

It's fantastic. Upstairs, you have the bedrooms, one there, one here.

0:33:220:33:26

This is an extension that's been built on at some stage,

0:33:260:33:29

it's not quite as cutesy-wutesy as the rest of it, but it does give you a bit of much-needed space.

0:33:290:33:34

And here, you can really see the construction of this property. It is timber frame, extremely unusual,

0:33:340:33:39

but more importantly, you're really going to have to get an expert,

0:33:390:33:43

a specialist who knows all about this kind of construction to sort it out for any renovation works.

0:33:430:33:49

'That goes for the outside, too.

0:33:490:33:52

'You'd need to find an expert local thatcher to keep it maintained

0:33:520:33:56

'and fireproofed to satisfy insurance companies.

0:33:560:33:59

'The cottage also comes with these outhouses, which are a bit run down.

0:34:000:34:05

'However, the paddock in front of them is perfect if you have some horses or ponies.

0:34:050:34:11

'But it's round the back where I finally discover something I dislike about this place.'

0:34:110:34:16

# Ain't that a shame?

0:34:160:34:20

# My tears fell like rain

0:34:200:34:24

# Ain't that a shame?

0:34:240:34:28

Oh, what is going on here?

0:34:280:34:31

As the rest of the house is beautiful, this conservatory is absolutely horrendous!

0:34:310:34:38

If it was stuck on the side of a modern house, it might be all right,

0:34:380:34:42

but attached to this beautiful property? The irony is,

0:34:420:34:46

depending on when this house was listed,

0:34:460:34:48

this actual new conservatory could form part of that listing,

0:34:480:34:52

because if it was in existence when the listing was done, this would be listed,

0:34:520:34:56

crazy though it may be, and if you want to take it down,

0:34:560:34:59

you've got to get listed buildings approval.

0:34:590:35:02

Hm. Well, whatever, it would be worth the effort, because whatever it took to get rid of this,

0:35:020:35:07

it's got to be done.

0:35:070:35:09

'But I think it's still well worth the £275,000 guide price,

0:35:100:35:15

'although whoever bought it needs a healthy renovation budget.

0:35:150:35:19

'What does a local property expert think?

0:35:190:35:22

'Let's find out if she's as smitten as I am.'

0:35:220:35:25

The cottage is a typical, quintessential English thatched cottage

0:35:250:35:30

and highly desirable because it has a lot of features that people want,

0:35:300:35:35

the beams, the inglenook fireplaces,

0:35:350:35:38

the staircases, even to the well in the front garden.

0:35:380:35:42

This property is in need of complete renovation.

0:35:420:35:45

There are a lot of damp problems.

0:35:450:35:47

The bathrooms need replacing.

0:35:470:35:50

There is quite a lot to do and we would estimate that one could spend

0:35:500:35:54

anything between £70,000 and £100,000 to get it in excellent order.

0:35:540:35:59

'What kind of value could the work add to the cottage?'

0:36:000:36:03

In the current market, we would estimate that it would be valued at between £450,000 and £475,000.

0:36:060:36:13

'What if the buyer decided to rent it out?'

0:36:130:36:16

We would estimate that one could achieve in the region of £900 to £1,000 a month rental.

0:36:160:36:22

Well, properties like this don't come up for auction very often at all,

0:36:220:36:28

and testament to the fact, before the auction,

0:36:280:36:30

over 100 people came to see it.

0:36:300:36:33

Who couldn't fall in love with a place like this?

0:36:330:36:37

Let's see who the lucky bidder was when it went under the hammer.

0:36:370:36:41

We've left it until last because it's the star of the show.

0:36:410:36:44

You've seen it, there's no need for me to say any more. Bid me please.

0:36:440:36:49

250. In the stalls at 250,000.

0:36:490:36:52

Taking £5,000 bids, then. At 250. 250.

0:36:520:36:56

255. 260.

0:36:560:36:59

265. 270.

0:36:590:37:01

275. 280. 285. 290.

0:37:010:37:05

295. 300. 305.

0:37:050:37:09

305. 310. 315.

0:37:090:37:12

320. 325.

0:37:120:37:15

330. 335.

0:37:150:37:17

340. 345. 350.

0:37:170:37:21

355. 355 in the stalls.

0:37:210:37:25

At 355. Thank you for your bidding, sir. 360.

0:37:250:37:28

365. 365.

0:37:280:37:31

At 365,000.

0:37:310:37:33

365,000 in the stalls on my left.

0:37:330:37:38

I'll take 2 if it helps you.

0:37:380:37:40

At £365,000.

0:37:400:37:43

367.

0:37:430:37:45

370. 370.

0:37:450:37:48

370. 370 in the stalls on my left.

0:37:480:37:53

All done and sure? I'll call the bidding three times.

0:37:530:37:56

370 for the first time.

0:37:560:37:58

372. 375.

0:37:580:38:01

375. 375.

0:38:010:38:04

Have another little chat, take some good advice. 375.

0:38:040:38:08

At 375,000 for the first time.

0:38:080:38:13

375 for the second.

0:38:130:38:15

-Third and last time, then, at £375,000.

-HAMMER BANGS

0:38:150:38:21

Congratulations, sir.

0:38:210:38:23

'It was Andy who came in with that final bid of £375,000,

0:38:230:38:28

'a whopping £100,000 over the guide price.

0:38:280:38:32

'He was actually bidding for one of his clients and he'll be in charge of the renovation work.

0:38:320:38:37

'He's a chartered surveyor, a property renovation supervisor

0:38:370:38:41

'and has even been a fine art and antiques auctioneer.

0:38:410:38:45

'I caught up with him back at the cottage to hear about his master plan for the place.'

0:38:450:38:49

-Andy, lovely to meet.

-And you.

-What an amazing property.

0:38:510:38:56

-Fantastic, yeah.

-What did you think when you walked down the drive?

-I thought, "Fantastic."

0:38:560:39:01

And I was just surprised to find a timber frame in here,

0:39:010:39:05

because it hadn't been mentioned in the agent's particulars.

0:39:050:39:08

And, of course, it's been rendered on the outside, so you can't see it.

0:39:080:39:12

-In general, what do you think about the condition?

-Fantastic.

0:39:120:39:15

When you consider that you're standing in something that has been up for about 450 years,

0:39:150:39:21

it is in pretty amazing condition.

0:39:210:39:24

OK, there's things to be done. Obviously, the damp has to be dealt with

0:39:240:39:29

and unfortunately it does mean that all the floors down here we're going to have to take up.

0:39:290:39:34

It's going to be quite a costly job, because it's all going to have to be done by hand,

0:39:340:39:38

and replace it with a concrete floor, fully insulated and damp-proofed.

0:39:380:39:45

And the front wall, as well, it's only a thin wall and it's quite damp,

0:39:450:39:49

so we're going to have to insulate that on the inside

0:39:490:39:52

and we're going to use black wool insulation, so that'll be a natural wool fibre.

0:39:520:39:58

'It seems that Andy's going to give this cottage the sensitive, loving renovation that it deserves.

0:39:580:40:04

'But by the sound of it, the thatched roof will need some major work.'

0:40:040:40:09

The thatch is in pretty good shape.

0:40:120:40:15

It's combed wheat reed, which has a pretty good life expectancy

0:40:150:40:18

The great shame is that, when it was last redone,

0:40:180:40:23

which would've been quite a major job, the opportunity wasn't taken

0:40:230:40:27

to put any fire barriers in.

0:40:270:40:29

I always advise my clients, with thatched roofs,

0:40:290:40:33

when they come to a major overhaul, they should strip the whole lot off

0:40:330:40:37

and completely encapsulate the roof with a fire barrier and then re-thatch.

0:40:370:40:43

'This is obviously going to be a big job.

0:40:430:40:47

'So, in terms of the whole house, how expensive is it going to be?'

0:40:470:40:52

I've advised my client he's going to be looking at about £50,000

0:40:520:40:55

to bring everything up together.

0:40:550:40:58

And then, beyond that, there's the standard fitting out, bathrooms, kitchens, that sort of thing,

0:40:580:41:04

which will be to his budget, and that can be fairly elastic.

0:41:040:41:08

What timescale have you got for sorting this place out?

0:41:080:41:11

We need to get building regulation consent in place,

0:41:110:41:15

so we're looking at starting in about three or four weeks' time

0:41:150:41:18

on the majority of the works.

0:41:180:41:21

Probably an overall period of about six months.

0:41:210:41:24

How does it feel to do this for somebody else's house?

0:41:240:41:27

I've spent my life doing it, so I actually get quite a buzz out of it,

0:41:270:41:32

particularly when you've got a house like this. There's a lot of satisfaction in taking something

0:41:320:41:37

which has been a bit unloved or has got a lot of potential

0:41:370:41:41

and then realising that potential or bringing it back to its former glory.

0:41:410:41:46

-What are you most looking forward to?

-Funnily enough, sorting out the rather poorly-planned back

0:41:460:41:51

and that conservatory. I mean, that is such an eyesore.

0:41:510:41:56

It's going to be good to do that.

0:41:560:41:59

It'll be a fascinating project to follow and we'll certainly do that. Congratulations.

0:41:590:42:04

Thank you very much.

0:42:040:42:06

Well, taking on a project like this is always going to be a time-consuming undertaking.

0:42:060:42:12

However, having somebody like Andy to do it for you, it's the best of both worlds, really.

0:42:120:42:16

He's going to have some issues to deal with, digging up that floor will throw up all sorts of problems,

0:42:160:42:21

and everything has to go through the suitable planning authorities.

0:42:210:42:25

I can't wait to see how this place turns out. You can find out later in the show.

0:42:250:42:31

The plans and dreams seemed promising at the time.

0:42:340:42:37

-But have those dreams become a reality?

-I think we should find out!

0:42:370:42:41

'Now we're back to Gravesend in Kent where this ground-floor flat sold for £97,000 at auction.

0:42:410:42:49

'Property developing brothers Kevin and Andrew bought it.

0:42:490:42:52

'They'd first appeared on Homes Under The Hammer six years ago.

0:42:520:42:56

'If anyone could inject a bit of oomph into this rather featureless flat, I reckon it would be them.'

0:42:560:43:01

What are you going to do to really make it stand out? Because you don't have any hidden features.

0:43:020:43:07

It's got that 60s feel to it.

0:43:070:43:11

We'll just try and make the kitchen as nice as we can,

0:43:110:43:13

-the bathroom as nice as we can and...

-Make it look more modern.

-Yeah.

0:43:130:43:17

'So what did they end up with? Well, it was a good-sized two-bedroom flat,

0:43:180:43:22

'perfectly fine, just in need of some modernising.

0:43:220:43:25

'We caught up with the brothers two months later to see how things have gone.'

0:43:250:43:30

Since you were last here, we've stripped all the flat out,

0:43:400:43:44

took all the old coving out,

0:43:440:43:47

stripped all the wallpaper and basically took it back to basics ready to put it all back together.

0:43:470:43:52

We had to rerun all the electrics, put in new wiring.

0:43:520:43:56

We've had to central-heat it,

0:43:560:43:59

renew all the skirtings, plaster it all.

0:43:590:44:01

The bathroom originally had a bath, but we've taken that out. We've got a shower. We've retiled it,

0:44:010:44:06

put in a nice closet-style toilet and new units.

0:44:060:44:11

I think it's come out really well. I think it looks really modern.

0:44:110:44:14

Andrew's worked very, very hard on it and we're really, really pleased.

0:44:140:44:19

'In all the brothers' property ventures, Andrew takes charge of the renovation side of the work.

0:44:200:44:25

'One of the main rooms here that needed money spent on it was the kitchen.'

0:44:250:44:29

If you remember the kitchen before, we had a big built-in cupboard that came across here.

0:44:310:44:36

We've ripped the cupboard out. We had a lot of electrics running up the wall here, so we boxed that in

0:44:360:44:41

and run all new electrics and fitted the kitchen.

0:44:410:44:45

'The design of the kitchen makes much better use of the space.

0:44:450:44:48

'The modern units are less cluttered and they've fitted new workspaces and a gas oven.

0:44:480:44:53

'It may look fantastic now, but it took a while to get it right.'

0:44:530:44:58

We had the people out to design it about three times, and every time they did it,

0:44:590:45:03

we kept having problems, I don't know why.

0:45:030:45:05

Then when they done the last design and Andrew was fitting it in,

0:45:050:45:09

this particular worktop here came across and you couldn't get through.

0:45:090:45:13

So we had to take it all out and change it all over again.

0:45:130:45:16

So it was a little bit of a nightmare. But I think it looks well now and looks really smart.

0:45:160:45:20

'Unfortunately, that wasn't the end of their problems.

0:45:200:45:23

'In fact, they've still got one repair left to do.'

0:45:230:45:27

We only just finished yesterday and we had the carpet-fitter in laying the carpets

0:45:270:45:33

and as he's about to finish, he went through one of our central-heating pipes

0:45:330:45:37

so we had to dig up the back bedroom floor and redo the pipes.

0:45:370:45:41

So a bit of a nightmare, but apart from that, everything's gone well.

0:45:410:45:45

The project's been really good. Everything went quite smoothly.

0:45:450:45:50

A couple of little hiccups on the way, but you expect that.

0:45:500:45:54

So, all in all, it went well.

0:45:540:45:56

'Their original budget for the work was around £4,000 to £5,000. Have they managed to stick to that?'

0:45:560:46:03

We've probably done about £8,000 or £9,000, so we've gone a little bit over-budget,

0:46:050:46:11

but, as you can see by the standard, I think the money's been well spent,

0:46:110:46:15

it's well justified, and I think the flat's come out really well.

0:46:150:46:18

'The reason they spent more than they'd planned on the renovation

0:46:180:46:22

'was that Kevin decided he was going to move into the flat,

0:46:220:46:25

'so he wanted to make it that little bit more special.'

0:46:250:46:29

I'm going to move in, because I've just downsized. I live in the next road.

0:46:300:46:34

My children moved away and they both live in Derbyshire,

0:46:340:46:37

so now that they've left, I've got a chance to downsize and get rid of them,

0:46:370:46:41

so I'm going to move in here.

0:46:410:46:43

'Kevin's son Chris helped him bid at the auction

0:46:450:46:48

'and he's now designated the second bedroom to Chris for when he comes to visit at weekends.'

0:46:480:46:55

My bed's going to go over there and my chair's going to go there.

0:46:550:47:00

It's going to be really big.

0:47:000:47:04

And I'm going to have lots of stuff in here.

0:47:040:47:06

I'm going to have my Xbox here with all my games on top.

0:47:060:47:12

Yeah, it looks good and I can't wait to move in.

0:47:120:47:16

'So the flat gets Chris's thumbs up.

0:47:160:47:19

'But what do two local property experts think?

0:47:190:47:21

'We asked them to tell us their thoughts.'

0:47:210:47:24

First impression, very impressed.

0:47:250:47:28

I think the work that's been carried out

0:47:280:47:31

has been done to a very high standard

0:47:310:47:33

and I think it would sell well in today's market.

0:47:330:47:36

The kitchen particularly, the workmanship that he's put into it,

0:47:360:47:41

the arrangement, as well, because it's a nice square kitchen,

0:47:410:47:44

the appliances are all built-in, it's just organised really well. It's lovely.

0:47:440:47:48

I think the bathroom is very nice. Would suit younger people

0:47:480:47:52

as opposed to older people with the shower, but that shouldn't detract from its saleability.

0:47:520:47:57

I think this property would interest a very wide audience

0:47:570:48:01

because it is a ground-floor flat with a garden.

0:48:010:48:03

It's close to local shops and amenities

0:48:030:48:06

and it's been internally designed and decorated to a modern standard,

0:48:060:48:10

so I think there'll be quite a large audience.

0:48:100:48:12

'If they decide to sell the property in the future,

0:48:120:48:16

'could Kevin and Andrew make a profit?

0:48:160:48:18

'Remember, they paid £97,000 for the flat at auction

0:48:180:48:22

'and have spent around £9,000 on the renovation,

0:48:220:48:25

'making a total outlay of £106,000.'

0:48:250:48:28

If I was to put the property on the market, I would expect it to achieve in the region of £120,000.

0:48:300:48:35

If we put this property up for sale, I think we would achieve

0:48:350:48:38

within the region of £125,000.

0:48:380:48:41

The 125 would definitely be better.

0:48:410:48:44

Yeah, I thought around 120 or so.

0:48:440:48:46

-Anything over that would be really great, especially in the current market.

-Yeah, it's good.

0:48:460:48:51

'Remember, there could be further expense of between £5,000 and £15,000

0:48:520:48:56

'should they decide to extend that lease, but for the time being, the brothers are happy to sit back

0:48:560:49:01

'and see how the market fares for this property.

0:49:010:49:04

'If we meet them again in another six years,

0:49:040:49:07

'what do they think they'll be up to then?'

0:49:070:49:10

-We'll still be doing the same thing, probably.

-Hopefully.

0:49:100:49:14

-But it's very difficult to find them, but if we can find them, we'll carry on doing them.

-Certainly will.

0:49:140:49:19

'Now we're back in Wimborne in Dorset

0:49:220:49:25

'where this delightful thatched cottage

0:49:250:49:28

'sold at auction for £375,000.

0:49:280:49:32

'Chartered surveyor Andrew had bid for it on behalf of a client.

0:49:320:49:36

'He was going to oversee the renovation of this gorgeous grade II listed property

0:49:360:49:41

'and it sounded like it was going to be a passion project for him.'

0:49:410:49:45

I get quite a buzz out of it, particularly with a house like this,

0:49:450:49:48

and there's a lot of satisfaction in taking something which has been a bit unloved

0:49:480:49:53

or has got a lot of potential

0:49:530:49:55

and then realising that potential or bringing it back to its former glory.

0:49:550:50:00

# Give a little, take just a little

0:50:000:50:03

# Let your poor heart bleed a little

0:50:030:50:05

# But baby, that's the glory of love

0:50:050:50:10

'So, has that love and attention paid off?

0:50:100:50:14

'A year later, from the look of the outside, it has.

0:50:140:50:18

'Andy is recovering from a sports injury

0:50:180:50:21

'but, happily, is still able to show us around.'

0:50:210:50:24

'Inside, although there are finishing touches to do,

0:50:300:50:34

'a tremendous amount of thoughtful and sympathetic restoration work has been taking place.

0:50:340:50:40

'The walls have been stripped, insulated, finished with specialist plaster and repainted.

0:50:400:50:47

'The cottage has been carefully rewired and new lighting added.

0:50:470:50:52

'All the flooring on the ground level has been taken up and replaced

0:50:520:50:56

'with under-floor heating now added.

0:50:560:50:58

'And in the kitchen, once permission was granted, of course,

0:50:580:51:01

'the wall was knocked down through to the utility room

0:51:010:51:04

'to create a much more spacious area.'

0:51:040:51:07

Well, here we've gone back to basics, stripped out all the plaster,

0:51:070:51:12

stripped out the floor and the main change is this wall here,

0:51:120:51:15

where we've taken the wall out to open the room and enlarge it into what was an old utility room.

0:51:150:51:21

And it's been replastered, new floor's gone down

0:51:210:51:25

and everything's now ready for the new kitchen to come in.

0:51:250:51:29

'Throughout the rest of the house, the rooms have been treated to the three Rs,

0:51:290:51:33

'they've been replastered, redecorated and restored to their former glory.

0:51:330:51:38

'The former oil-fired heating system has gone and been replaced.

0:51:400:51:44

'No, not with something from a nuclear power station,

0:51:440:51:47

'but a high-tech and eco-friendly air-source heat pump.

0:51:470:51:51

'Bathroom still needs to be fitted, but this will happen soon.

0:51:530:51:57

'As you can see, the house is still being worked on.

0:51:580:52:01

'The tradesmen aren't even stopping for the cameras.

0:52:010:52:05

'Delays have been due to builder availability, getting listed building consent

0:52:050:52:09

'and it's been no easy task to sort out that damp problem.'

0:52:090:52:13

We had to start outside, because the main primary cause of the dampness was the high ground levels.

0:52:150:52:20

The ground had built up enormously over the years. So there's been a huge amount of excavation outside

0:52:200:52:25

and laying of land drains. There'll be landscaping going on over the next month as the final part of that.

0:52:250:52:32

So that's got all the ground below the level of the internal floors so there's no water coming in now.

0:52:320:52:38

Inside the house, we've had to take all the floors up and relay them with damp-proof membranes,

0:52:380:52:43

insulation and under-floor heating.

0:52:430:52:46

And then the walls themselves, which were very thin,

0:52:460:52:49

they've been increased in width,

0:52:490:52:53

insulated with sheep's wool and then replastered using a traditional lime plaster.

0:52:530:52:58

I think it's worked really well. If you didn't know what had happened in here,

0:52:580:53:03

I hope you would think nothing's actually changed.

0:53:030:53:06

# I was still the same old me

0:53:060:53:11

'The cottage's listed status means everything has to be planned in detail

0:53:110:53:16

'and you need to stay on the right side of the conservation officer.

0:53:160:53:19

'It's very important to set realistic timescales in order to do the job properly.'

0:53:190:53:25

It just does take a long time with listed buildings.

0:53:250:53:28

You're using traditional materials which just don't work as quickly as modern materials.

0:53:280:53:34

The lime plaster, for instance, you have to let about ten days between coats.

0:53:340:53:40

With the modern gypsum plaster, it's a day.

0:53:400:53:43

I think the pleasing thing is that, although we have done an enormous amount of work,

0:53:430:53:47

when you're going round, hopefully, it doesn't look as if we've done anything.

0:53:470:53:51

It still looks as it would've done 50, 100, 150 years ago,

0:53:510:53:56

bar the electric lighting. HE LAUGHS

0:53:560:53:59

'So far, the work has cost around £100,000,

0:53:590:54:03

'although Andy thinks he's probably going to spend around another £27,000.

0:54:030:54:07

'Luckily, the roof was in adequate condition

0:54:070:54:10

'and didn't need any upgrade for the time being,

0:54:100:54:13

'so there was no extra cost there.'

0:54:130:54:17

The budget has gone pretty well according to plan.

0:54:170:54:19

The only thing which has really gone over is the air-source heat pump,

0:54:190:54:23

which is a more expensive installation,

0:54:230:54:26

but will reap the rewards in the long term.

0:54:260:54:29

'With that £100,000 for the work, plus the £375,000 paid at auction,

0:54:290:54:35

'the total outlay here has been around £475,000.

0:54:350:54:39

'So have they added any value to it?

0:54:390:54:42

'We asked two local experts to have a look and tell us their thoughts.'

0:54:420:54:47

The current owners have done a super job modernising this property

0:54:510:54:56

whilst retaining the original character and integrity

0:54:560:54:59

of the cottage.

0:54:590:55:01

They've taken advantage of timbers and very much kept the property

0:55:010:55:06

in keeping with the 16th century age of the cottage.

0:55:060:55:11

I think the addition of the heat pump and the under-floor heating are an excellent improvement.

0:55:110:55:16

Whether it will have too much effect on the value, I don't think so,

0:55:160:55:21

but for comfort and convenience, it's a great improvement.

0:55:210:55:25

In my view, this would sell well at the right time of the year,

0:55:250:55:29

which ideally is in the spring or summer,

0:55:290:55:31

and I don't think you'd have a problem finding a purchaser.

0:55:310:55:34

'Andy's client plans to move in once the work is complete.

0:55:340:55:38

'Bearing in mind that the total investment here is around £475,000,

0:55:380:55:43

'if he did decide to resell, what could he hope to get for it?'

0:55:430:55:46

Once this property is completed,

0:55:490:55:51

we would expect to put this property on the market for between £560,000 and £580,000.

0:55:510:55:57

I think it would market at about £600,000.

0:55:570:56:01

I think that's a good price and I think he'll be very happy.

0:56:010:56:05

I always felt he got it at a bargain price at the auction

0:56:050:56:09

and I was confident that it was going to accumulate, which has proved to be the case.

0:56:090:56:17

'I'm sure Andy's client will be delighted with the renovation done here

0:56:170:56:21

'and can look forward to many years living in this very beautiful home.'

0:56:210:56:26

I mean, we are custodians of these properties

0:56:280:56:31

and I think my client will be leaving it in a 100 times better state than when he first took it on

0:56:310:56:38

and it should last a good few hundred years more now.

0:56:380:56:41

# Same old me

0:56:410:56:45

# Same old me

0:56:460:56:50

That's it for now. Join us next time for more news from the front line of the property world.

0:56:530:56:58

-Ooh! See you then!

-Goodbye.

-Goodbye.

0:56:580:57:00

Subtitles by Red Bee Media Ltd

0:57:020:57:06

E-mail [email protected]

0:57:060:57:10

.

0:57:100:57:10

Martin Roberts and Lucy Alexander visit a house in Derby, a property in Gravesend, and a picturesque cottage in Dorset. All of these properties have been sold at auction; Martin and Lucy find out who bought them, and what they paid for them when they went under the hammer.