Episode 43 Homes Under the Hammer


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Episode 43

Martin Roberts and Lucy Alexander visit a three-bedroom semi in Leigh, Lancashire, a property in Middlesex and a house in Staffordshire.


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Hello. If you've ever been tempted to go to an auction,

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perhaps now is the time to take the plunge.

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There is so much variety in the catalogues.

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Yes, every month there are literally thousands of lots on offer.

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So, why not nip down to your local auction house

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and check out an auction?

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Buying at auction is a great way to get good value for money.

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Essential, especially if you're starting a business.

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Now, if you've done your research, you've managed to get

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your finances available, well, you should make quite a success of it.

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So, here's what people invested in on today's show.

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There aren't too many structural problems at this semi

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in Leigh in Lancashire. Just quite a lot of tarting up.

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If you're after a secluded riverside location,

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this auction lot in Middlesex might just float your boat.

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How exciting would it be to live here?

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And this terraced house in Burton-on-Trent, Staffordshire

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could be designed for bigger and better things.

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I've been thinking about it, and I think we might have the solution.

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All these properties have been sold at auction, and we will find out

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who bought them and what they paid for them

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-when they went under the hammer.

-Sold.

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Today, I'm in the town of Leigh in the Metropolitan Borough of Wigan.

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Once an industrial town, like many others in the North West

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it now relies on smaller businesses and retail.

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It's currently undergoing some regeneration,

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with a 10,000-seater stadium and sports village being built,

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as well as quite a lot of updating of its housing stock.

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Well, the property I'm here to see is about a mile from the town centre

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in this nice residential area.

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A former local-authority house at a guide price of 60,000 quid,

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which for a three-bed semi ain't at all bad.

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This is it.

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It looks like it needs a bit of tender loving care from the outside.

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What's it like inside? There's only one way to find out.

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Oh, dear. That's not the most welcoming entrance I've ever seen.

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Major problem with the stairs, one of the risers has gone.

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The whole staircase looks like it's in need of

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a bit of sorting out!

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Maybe the house will get better as we go further in.

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Or maybe not. OK, it doesn't look too good.

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We've got double glazing, though, which is good.

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Central heating looks a bit old. Gas fire definitely needs replacing.

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I'm seeing a mess. What I've got to try and determine is

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whether there's anything structural going on here as well,

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because it could just be a lick of paint,

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new plasterwork, and that would be fine.

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But you move through to the kitchen...

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No, I have decided it is in a bit of a mess.

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The layout, however, works quite well.

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You've got that living-room area at the front.

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This kitchen, small though it is, I like that it sort of flows

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through into this dining room, and then you've got the patio doors

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out onto the garden. So, in terms of major structural work,

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I don't think there's too much

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knocking down of walls to be done, just quite a lot of tarting up.

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# I've seen better things... #

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I think this is a case where looks are deceptive,

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because if you got the whole place replastered, replaced the kitchen,

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central heating and maybe the windows, this house would be fine.

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Well, downstairs at least.

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So, upstairs, and good news - you've got a reasonable-sized bathroom.

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It needs refurbishment, like everything else,

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but at least it's in the right place, and it's not a bad size.

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Bit of an odd layout, this, though.

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This corridor leading down to two of the bedrooms

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just doesn't quite work,

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and then your third bedroom, not exactly massive.

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I actually would probably call this a single.

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Again, it's just in need of a real good sort-out. So, to sum up,

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not a bad house, it just needs some work.

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This'll need work from floor to ceiling,

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but there's nothing that a good team of tradesmen couldn't tackle.

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Most of it's cosmetic, and there don't appear to be any signs of

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structural problems - or did I speak too soon?

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So, round the back, and a real bonus to what I think could be

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a lovely family house - a nice, big garden.

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Now, it is in a bit of a state, but a good weekend out here

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with a strimmer, I think you'd sort it.

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That doesn't concern me. What does concern me more is

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just down here, where the soil pipe actually goes into the ground,

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you can see that all those flagstones have actually dropped.

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Now, my concern is maybe there's a problem with the sewer under there.

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Anything underground like that that's a problem is going to be

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kind of expensive to sort out.

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So, definitely get that checked out by a specialist.

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So, there are some structural worries here, but perhaps

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they're reflected in the £60,000 guide price.

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What does a local estate agent think?

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Obviously needs a lot of work.

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I feel with a good £10,000 spent on the property,

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then it would be a good investment overall.

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Would it be worth spending £10,000 on this property

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that was guided at 60,000?

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'In my opinion, this property would rent out

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'for £475 per calendar month.'

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Once renovated, I would value this property at £65,000 to £70,000.

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So, on the resale market, there might not be much potential profit,

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but as a rental, this house could work very well financially.

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Well, more than a weekend's work to sort this one out, for sure,

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but what you've got here intrinsically is a solid house

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in a good area, and I think a nice house to live in,

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or good rental potential.

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

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Lot 119 next. I'm asking you for 10,000.

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£10,000. 10 I've got there. Can I say 15? 15 right at the front.

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20, 25, 30.

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30, sir. 35. Do you want to give me 32 at the front?

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34, 36? 35. 35?

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36, 37, 38, 39. It's with you, sir, at 38.

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I'm looking for 39.

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Are we all finished at 38? No, we're not. 39 right at the back.

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40, 41, 42, 43, sir? Shaking his head. 42 on my right.

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Looking for 43. I'm going to sell for 42.

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On my right for the first time. 43. 44, 45, sir?

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No? At £44,000 on my right. First time at 44.

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Second time at 44.

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45. New bidder.

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46. 47? 47? Just the one bid?

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It's with you, sir, at 46. Are we finished at £46,000?

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First time at 46.

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Second time at £46,000.

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Sold to you, sir, and paddle number is...?

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And, incredibly, for £14,000 below the guide price, at 46,000,

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the successful bidders were David and his business partner Wendy.

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She joined me at the Leigh property to explain

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why they wanted this house for their rapidly-expanding portfolio.

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-Wendy, lovely to meet you.

-Nice to meet you.

-Congratulations.

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How lucky am I?!

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-Well, you got it for a lot less than the guide price.

-I did.

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46,000, which is a good buy when you look at the prices of the houses

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on this street. So, I'm quite pleased.

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-It obviously isn't your first time at auction, then?

-No.

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I go to auctions in London,

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I go to every auction in the North West.

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-Every?

-Yes, every auction, just to double-check prices

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and what areas and what prices are going for.

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Right. So, tell me about you, then.

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This is what you do full-time, or what?

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I do this full-time. I've got 73 houses now.

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-73?!

-Yeah.

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How long has it taken you to get that together?

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-One year.

-What?!

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One year. I've done it in one year.

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73 in just a year? Amazing! That's more than one a week!

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In fact, Wendy and David often buy five or six houses at each auction.

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For Wendy, this is a completely new departure,

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because she's previously worked in retail buying and customer services.

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It's thanks to her business partner David that

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this property spending spree has been possible.

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So, I guess what's stopping a lot of people doing what you've done

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is the money. So, how did you get started on it?

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Two or three houses, I can see how you might have refinanced,

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even in difficult times, but you need a chunk to start with.

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David had a computer company, and he sold the computer company.

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-So, in the bank, the interest rate is 1%.

-Yeah.

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Right? So, why have your money in the bank at 1%

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when we're getting back 8 to 12% on every house?

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So, what do you look for in the auctions, then, when you're buying?

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Cheap! We buy cheap that we can do up and our workmen can go in.

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But we stick with the same areas.

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We've got accreditations with Wigan, Bolton, Burnley, Bury and Salford,

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so I'm in with all the councils.

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As an accredited landlord with several local authorities,

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she knows there's a high demand for rental homes

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and a good supply of council-vetted tenants.

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In fact, Wendy and David are so confident in their business plan,

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they've bought 26 houses in this area.

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Did you actually come in the house before you bought it?

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Did I heck! I didn't walk in it.

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I don't usually walk in at most of the houses.

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-Why not?

-I just look at the street, look at the house.

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It's got a roof on, it's got the walls, I'm OK!

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It's like going getting a tin of beans!

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Don't worry about it, we'll get there in the end!

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Did it disappoint or surprise when you walked through the door

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-for the first time?

-I laughed, because we've got

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a patio door out to the garden - quite a luxury!

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This is quite good. A bit of plaster on, a bit of rewiring.

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We've got a good team, they'll come in here, in six weeks this will be

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a brand-new house, and it will be ready for a family to move into.

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Wendy's given herself a budget of £16,000 to turn this place

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into that family home.

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What's the goal, then, where do you stop?

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We want to sell about 20 houses this year

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so we keep the pot full with money.

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We all need money at the end of the day.

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This year, we're working on buying about another 30 houses.

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The phenomenal success of their business means

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they now employ a team of 12 builders.

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Although she's been renovating property for just over a year,

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Wendy ensured she knew all aspects of the building trade

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from the start.

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I went to Salford College to learn how to be a bricklayer.

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-Really?!

-Painter-decorator, so that when I did go into this

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and I asked for a price on a job,

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they couldn't rip me off because I'm a woman.

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If you don't take a chance in life, you're never going to do it.

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It's no good sitting at home thinking in ten years, "I wish I'd done this."

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You've got to do it now, and that's how I look at life.

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-Listen, lovely to meet you, congratulations.

-Nice to meet you.

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In general, and on this particular one!

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We look forward to seeing how you get on.

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See you in six weeks!

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Well, how about that? A crash course in everything

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you need to know about being a property investor successfully.

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Wendy, what a year!

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How's she going to get on with this place?

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Well, I think you know the answer.

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You can find out later in the show.

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I have come ready for anything today,

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as it's a rather unusual location.

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Here in the town of Sunbury-on-Thames is

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a series of little islands in the middle of the river.

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Wheatley's Ait is the one our lot is on today,

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and we've got to cross this little bridge to get there.

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You certainly don't get too many properties with an approach

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like this. Strolling past the swans and the fishermen,

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this misty morning is making it all enticingly mysterious.

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So, what have I come to see in this idyllic spot on an island?

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Well, it's this wooden chalet behind me.

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It's timber frame, it's raised above the ground on stilts.

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It's a quirky one all right, but how exciting would it be to live here?!

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Well, I know it was up for auction with a guide of 135 plus,

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and from a distance I think it might have been the setting

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that sold this one, but I love it already.

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# Hi-tiddly-hi-ti island, everybody wears a smile

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# Hi-tiddly-hi-ti island, everybody lives in style... #

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'It's certainly a beautiful setting, but it would be too easy

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'to let your heart rule your head in a location like this,

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'so let's not get carried away.

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'First, we'd better see whether this two-bedroom property

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'lives up to its promise.'

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Let's have a look around this funny little chalet.

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You can see on the inside it just needs so much work doing to it.

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I'm not sure how safe this place is,

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so I'm not going to investigate further, but you can see there are

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a few little rooms off this one big room.

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You've got a kitchen and a bathroom, and a funny little space over here,

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but it does have a really old, romantic feel to it.

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And look at that, unbelievable view. Look, the stream!

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You know, this could be a wonderful house, but I do know,

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having purchased a building like this before,

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that this is non-typical construction.

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What I mean by that is that it's not made of brick or stone walls

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with a slate or tiled roof.

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Now, another example of that would be a prefabricated house

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which was built during and post-war as cheap housing.

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The danger is, mortgage companies don't usually like lending

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on these type of homes, so for this, cash-only buyers need apply.

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Past the kitchen, there's a good-sized bedroom,

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but that sloping floor suggests

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there's a fair bit of structural work to be done here.

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# Goes around the island, goes around the island... #

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The place has obviously been empty for a while and I think it might be best just to knock it down and start

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all over again.

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You know there is something so charming about the idea of a veranda.

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Picture it, sitting outside with your partner, watching

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the sunset in a rocking chair with a nice hot steaming cup of tea.

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It's very Little House On The Prairie, isn't it?

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Well, with our English weather I think that's not going to be possible all that often

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but it really is a lovely feature and possibly the nicest thing about this property. You know, I'm sold.

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Practically speaking, it's not the house but the location that counts.

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This auction lot came with just over a quarter acre of land.

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It's definitely room for rebuilding.

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So, this is every house builder's dream

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but I can see there might be trouble with getting planning permission because of its isolated location

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and the tricky fact about it being in a significant flood risk area.

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But, hopefully, the planners will rule in favour of a rebuild if

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the new house is in the footprint of the existing one.

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This is certainly no average house.

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Time to get the opinion of a local estate agent to hear where

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island properties like this would sit on the market.

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One of the disadvantages of living on the island is access.

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You can't bring a car here or any building materials.

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You have to walk and carry everything unless you bring it by barge.

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The building's beyond economical repair so would have to be dismantled and removed from the area.

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Subject to planning permission, you could build a very nice chalet bungalow.

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The cost approximately would be anything between £150,000 to £250,000.

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Bearing in mind that guide price of £135,000,

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you'll need the best part of £300,000 to undertake this project.

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How much is it likely to be worth once you've knocked down the old building and replaced it with

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a new structure.

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Depending on the quality of the build and to what standard it is,

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my estimate would be anything between £325,000 to £400,000.

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Surely once the property is complete

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people would be queuing up to rent the place.

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The rental market at the moment is very good and I suspect they would get anything up to £1,200 a month.

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Well, living on an island is certainly most people's dream

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but I wouldn't class this one as a tropical paradise.

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But, it's a stunning location and I can see why it would appeal to

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many people looking for privacy and an escape from the city.

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However, the property itself is not so promising.

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Whoever bought this would be running the risk of both

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the house flooding and problems getting planning permission to knock it down and rebuild in its place.

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Who wanted it despite all those challenges?

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Let's find out as it went under the hammer.

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Move on to lot 85.

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£150,000 anywhere. OK, 150...

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I've got, how much 151... OK 152...

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153...sir, on my right, 154...155...

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156...157...158...159...160...

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161...162...163...

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This island property has obviously

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captured the hearts of lots of bidders.

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The guide price of £135,000 has already been left far behind.

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We rejoin at a whopping £240,000.

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240...241...

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OK. Bid's with the gentleman on my left by the door, it's £240,000.

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It's against the gentleman who was sitting there, he's gone.

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240...for the first, 240... for the second. How much? 241...

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242...

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242...

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243...

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243, 244...

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245...

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By the door, 245. If not...

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No.

0:19:240:19:25

He's gone. It's with you, the bid's £244,000 against the gentleman.

0:19:250:19:31

He's gone somewhere.

0:19:310:19:33

244 for the first, 244 for the second,

0:19:330:19:37

244 for the third and final time, are we all done.

0:19:370:19:40

Sold, £244,000. Well bought.

0:19:400:19:43

After that epic battle the successful bidders with nerves of steel

0:19:430:19:50

were newly-wed couple John and Michelle.

0:19:500:19:53

Former hotel manager John and doctor Michelle paid £244,000

0:19:530:19:58

for their island hideaway. I can't wait to hear why they wanted the property so much.

0:19:580:20:04

Guys, congratulations I'm so happy for you.

0:20:040:20:08

Do you know what I love? I just can't wipe those big smiles off your faces.

0:20:080:20:12

You both looked so happy on auction day.

0:20:120:20:15

Absolutely, it's fantastic.

0:20:150:20:17

John what is the story behind you buying this plot?

0:20:170:20:20

I want to know all the background.

0:20:200:20:23

Well, there was no great plan in place at all.

0:20:230:20:25

We viewed it on a Saturday, on Saturday night we just kept talking about it and we had a look at all the

0:20:250:20:30

legal documents and we looked through everything and there was a huge amount. We thought will we, won't we?

0:20:300:20:36

We didn't have any funds to buy and we thought where will we get the money

0:20:360:20:41

because we just got married and funds were very, very tight to say the least.

0:20:410:20:48

Effectively, we had to borrow off all of our friends to get a deposit and sell our car.

0:20:480:20:54

Do you think it was worth the money?

0:20:540:20:56

-Yeah.

-Absolutely, it's a privilege to live by the river

0:20:560:21:00

and it's also a privilege in an almost rural environment.

0:21:000:21:04

It's like something from Wind In The Willows. It's gorgeous.

0:21:040:21:08

I admit I am as much in love with the place as John and Michelle but I'm not the one

0:21:080:21:13

who has to knock this old shack down and build a new home in its place.

0:21:130:21:18

# Love shack is a little old place where we can get together... #

0:21:180:21:23

Thankfully, John's background

0:21:240:21:26

is in the construction industry and he'll be doing the work himself.

0:21:260:21:30

I've dealt with the more traditional materials like concrete and block but not something on stilts.

0:21:300:21:35

I'm very excited about building on stilts and we know this area floods.

0:21:350:21:40

So, that will be a little bit of a challenge and getting the materials

0:21:400:21:43

onto the site will be a challenge because we can only access the site by river.

0:21:430:21:46

We're going to get very creative and we're going to dig deep and be very resourceful.

0:21:460:21:52

We hope to go for an eco home, a timber-framed home, something

0:21:520:21:57

that has a very interesting and nice design and is a sustainable home.

0:21:570:22:04

So, come on what is the budget?

0:22:040:22:06

I'd like to say we can put something together for £50,000.

0:22:060:22:09

£50,000 to build a house?

0:22:090:22:12

Obviously building a house and having a house on this island

0:22:120:22:15

does have a ceiling price. Are you worried about that at all?

0:22:150:22:19

We're not worried at all because this is a home it was never bought or going to be built as an investment.

0:22:190:22:24

It's going to be home, such a special wonderful you'd never want to sell it, you'd want to

0:22:240:22:28

pass it down to your family for years and years and let them have the same enjoyment that we hope to have here.

0:22:280:22:34

#Island of love.. #

0:22:340:22:40

I think it's fair to say that John and Michelle have fallen hook, line and sinker for this place.

0:22:400:22:45

They paid way over the guide price, have a tiny budget and to top it all

0:22:450:22:50

they don't even know if they can build anything here at all.

0:22:500:22:53

So, you haven't got planning permission yet.

0:22:530:22:55

-No.

-to build anything at all.

0:22:550:22:58

-No.

-So, at worse you could possibly build exactly the same footprint as you have at the moment.

0:22:580:23:04

Yes. And even that wouldn't be the worse case scenario because

0:23:040:23:08

we'd get to live in a beautiful place so, which to us is a great...

0:23:080:23:13

Still a great-case scenario.

0:23:130:23:14

Do you know what? I am so happy for you two, congratulations.

0:23:140:23:18

You deserve to live in a place like this.

0:23:180:23:22

-Thank you very much.

-Thank you very much.

0:23:220:23:24

John and Michelle have fallen hard for this place, well the location to be exact.

0:23:240:23:31

And it seems to have bewitched them into paying well over the guide price.

0:23:310:23:34

But John sounds very capable of getting something built here instead of the chalet.

0:23:340:23:38

I really hope when we come back there is a fantastic

0:23:380:23:41

eco home here in its place but only time will tell.

0:23:410:23:44

And, do you know what? The pressure is on.

0:23:440:23:47

You can find out if they succeed with their plans later in the show.

0:23:470:23:52

Coming up - this Burton-on-Trent house really could do with a change of layout.

0:23:520:23:57

What are the options?

0:23:570:23:58

Not sure, need to think about that.

0:23:580:24:01

We return to Sunbury, Middlesex, to find out what limitations there are living on an island.

0:24:010:24:08

Every last inch or millimetre was used to the best of our ability.

0:24:080:24:12

But first back to Leigh in Lancashire to discover the secret of Wendy's success.

0:24:140:24:18

Enjoy it, it's good, I love it.

0:24:180:24:22

Just outside Wigan, Lancashire, in the town of Leigh

0:24:260:24:29

we came across a very rundown three bed semi-detached house.

0:24:290:24:33

This property was in a terrible state but had one

0:24:330:24:36

overriding appealing feature, a guide price of just £60,000.

0:24:360:24:40

It was that price and the area that it was in that attracted local developers David and Wendy.

0:24:400:24:46

They snatched it up for just £46,000

0:24:460:24:50

to add to their rapidly expanding portfolio.

0:24:500:24:52

-I've got 73 houses now.

-73?

-Yeah.

0:25:020:25:05

How long as it taken you to get that together? What?

0:25:050:25:09

One year.

0:25:090:25:11

I've done it in one year.

0:25:110:25:13

It was thanks to her business partner David selling his computer business that the pair

0:25:130:25:18

had enough capital to go on a property spending spree and as they have

0:25:180:25:22

accreditation from a number of local councils, they have a ready market of tenants for their finished houses.

0:25:220:25:29

In fact, they can't acquire properties fast enough.

0:25:290:25:32

So, has property number 73 been brought up to standard? Well, just two months on we're back.

0:25:320:25:38

With a new front door and reinvigorated off road parking area, it's looking good from the outside.

0:25:470:25:53

But the main challenges were inside.

0:25:530:25:56

This house had holes from every bedroom ceiling down to this floor, this ground floor.

0:25:560:26:04

All the plaster was off the walls, the windows had been broken.

0:26:040:26:10

The garden, we didn't even know it was that big until we actually got in the garden and cut it down.

0:26:100:26:16

That wild, uncared-for garden can now be seen in its true colours as a lovely family garden.

0:26:180:26:24

The patio doors no longer lead from a crumbling,

0:26:240:26:28

stripped down back room but from a completely renovated space.

0:26:280:26:32

That equally sorry front lounge has

0:26:320:26:36

also undergone a total transformation.

0:26:360:26:39

But perhaps it's the kitchen that's the star of the show.

0:26:480:26:51

We've replaced the kitchen completely.

0:26:510:26:55

We've designed it so there's a working area and you can use it as a bench for eating.

0:26:550:27:01

New cooker, new sink, new boiler, everything, lights and it's got a ceiling now.

0:27:010:27:10

So, the kitchen's a great success.

0:27:190:27:20

The changes continue upstairs in the three bedrooms.

0:27:200:27:24

With new plaster work throughout, radiators, decor and carpets.

0:27:310:27:37

A brand new bathroom suite completes the refurbishment but where on earth

0:27:390:27:44

-do you start when faced with such a mammoth task?

0:27:440:27:48

The first thing was mainly drying out the house and then from that we started

0:27:500:27:55

the plastering as we had holes upstairs and we plastered from top to bottom.

0:27:550:28:01

And that had to dry out.

0:28:010:28:04

Then we started with the boiler, radiators

0:28:040:28:09

and then windows, doors,

0:28:090:28:12

new kitchen, new bathroom to how it is now.

0:28:120:28:18

We went back after eight weeks but all the work

0:28:180:28:21

was in fact completed in just six weeks by the 12 people Wendy employs to do all her properties.

0:28:210:28:27

I call them the A Team, the team that work for me are brilliant.

0:28:270:28:31

I would back them to the hilt.

0:28:310:28:33

Absolutely fantastic team.

0:28:330:28:35

We've got good electrician, Corgi, plasterer and the foreman he's the best worker you could ever get.

0:28:350:28:43

We might not work on one house at a time - we'll be working on two or three houses at a time.

0:28:450:28:51

So, when one jobs done they go onto the next job.

0:28:510:28:54

I guess when you've bought and renovated 73 properties in a year

0:28:580:29:02

you have to keep everyone moving from one place to the other.

0:29:020:29:05

Not only is it more efficient it keeps your costs down.

0:29:050:29:08

We did spend £15,000 on the house

0:29:090:29:12

and we got all the jobs done within a six-week period, which I planned on.

0:29:120:29:17

So, overall I'm really pleased at the result.

0:29:170:29:22

Wendy might be pleased but with a £15,000 spend on the house

0:29:220:29:26

she bought at auction for £46,000

0:29:260:29:28

plus costs and fees, she's invested around £63,000.

0:29:280:29:33

Will two local estate agents be equally impressed?

0:29:330:29:37

First impressions are very good.

0:29:370:29:39

The refurb's been done to a good standard.

0:29:390:29:41

Considering the location and type of property they've not gone overboard.

0:29:410:29:46

It's got a really nice kitchen, a modern bathroom and really plain and simple decoration throughout.

0:29:460:29:50

It's good.

0:29:500:29:51

The property is done to a good standard,

0:29:540:29:56

in keeping with the area and a credit to the purchasers.

0:29:560:30:00

Wendy rents most of the properties to the local council at an agreed rental rate.

0:30:000:30:05

In this case for a three bed house it would be £495 a month.

0:30:050:30:10

How comparable is that to the current market rates?

0:30:100:30:14

From a rental point of view we're probably looking in the region of £425 per calendar month.

0:30:140:30:19

You could rent this property out for around £475 to £495 per calendar month.

0:30:190:30:24

So, it seems she's getting a good rental deal.

0:30:240:30:26

But how does it stack up as an investment with Wendy investing

0:30:260:30:30

around 63,000 to get this house back up to standard.

0:30:300:30:34

In the current market the property would probably resell for something in the region of £75,000.

0:30:340:30:39

You would put this on the market for around £75,000 and hope to achieve something quite close to that.

0:30:390:30:45

I put it on the market two weeks ago and now,

0:30:450:30:48

very happy, we've sold it for 75, for the full asking price.

0:30:480:30:54

People can move in, they don't have to do anything; it's ready for them to move in.

0:30:540:30:58

That's not bad, a potential pre-tax profit of £10,000 to £12,000 for six weeks work.

0:30:580:31:05

What's the secret of Wendy's success?

0:31:050:31:10

To have a good team behind you, so that you work on a budget and your budget works right at the end.

0:31:100:31:16

Set a time and work to that scale of time.

0:31:160:31:21

And, enjoy it, it's good.

0:31:210:31:24

I love it.

0:31:240:31:26

# You can get it if you really want

0:31:260:31:29

# But you must try, try and try

0:31:290:31:34

# Try, try

0:31:340:31:35

# You'll succeed at last. #

0:31:350:31:38

Wendy's target this year is to reach a total of 100 houses, and with her

0:31:380:31:43

'you can do it' attitude I'm sure she's going to get there.

0:31:430:31:47

I'm in Burton on Trent, Staffordshire, in the very centre of England.

0:31:510:31:55

It's often thought of as the brewing capital of Great Britain because

0:31:550:31:58

at one time a quarter of all beer sold in the UK was brewed here.

0:31:580:32:02

So, will the property I'm here to see be the real deal, or a bit of a home brew?

0:32:020:32:07

Well, the property I'm here to see is on this street of terraced houses, very typical of the area.

0:32:070:32:13

It's described in the auction catalogue as having two plus bedrooms.

0:32:130:32:17

I'm not sure what a plus bedroom is but I guess I'm about to find out.

0:32:170:32:21

This is it. Guide price was £59,000.

0:32:210:32:23

Let's take a look. It looks pretty neat from the front. Although there's no off street parking,

0:32:230:32:28

it's on one of the quieter roads so there's plenty of room to park.

0:32:280:32:33

Oh, that's a nice surprise. Nice big open plan living room/dining area I suppose.

0:32:330:32:38

Somebody's obviously done a bit of refurbishment on this place in the past and created this one big area.

0:32:380:32:43

I like it actually. I'm not sure about the fireplace

0:32:430:32:45

and all that kind of stuff but that's easy to change.

0:32:450:32:47

An odd little storage cupboard under the stairs there.

0:32:470:32:50

Actually it looks as though it continues to be quite pleasant as you go through to the kitchen.

0:32:500:32:55

The units look reasonably serviceable.

0:32:550:32:57

A bit grubby inside the doors there but over all not a bad sized space.

0:32:570:33:02

A small area there where you could put like a kitchen table.

0:33:020:33:05

Perfectly serviceable. It looks like the boiler's reasonably OK.

0:33:050:33:08

So, all in all a good start.

0:33:080:33:11

The laminate floor is reasonably modern and the decor isn't bad.

0:33:180:33:22

I'm not sure whether anything could be done

0:33:220:33:24

with the cupboard under the stairs, probably best left as storage.

0:33:240:33:28

Anyway, I want to check out the bedroom situation now.

0:33:280:33:31

So upstairs, huge bedroom at the front,

0:33:310:33:34

reasonable sized bedroom there and then down and through this dark and dingy corridor to the plus bedroom.

0:33:340:33:40

Basically it is a small room which you walk through to get to the only bathroom in the property.

0:33:400:33:46

Clearly it's not ideal.

0:33:460:33:49

So, what are the options?

0:33:490:33:51

Not sure, need to think about that.

0:33:510:33:54

It's a frustrating layout because you have the space

0:34:000:34:03

but it just isn't utilised very well.

0:34:030:34:06

On the up side it's always best to have the bathroom on the first floor

0:34:060:34:09

but it seems such a waste to lose a whole room.

0:34:090:34:11

I'm still pondering this one.

0:34:110:34:13

So, at the rear of the property there's an added bonus.

0:34:130:34:16

A reasonable sized garden and this which is basically, I think...

0:34:160:34:20

I thought it was a loo, actually it's not,

0:34:200:34:23

it's just a storage little area with another one there.

0:34:230:34:26

Obviously when I see this, what am I thinking?

0:34:260:34:29

Could this somehow be incorporated into the main part of the house,

0:34:290:34:33

maybe the kitchen, maybe a double storey extension.

0:34:330:34:36

That could get over the issue of the bathroom upstairs, perhaps.

0:34:360:34:39

Give you a chance to jiggle things around which I think it really needs. The only fly in the ointment

0:34:390:34:43

is that this bit here is a shared access pathway for people to get their bins in and out.

0:34:430:34:49

You couldn't extend along here or rather any further than this.

0:34:490:34:53

Apart from that, thinking about it, I think we might have the solution.

0:34:530:34:57

Of course you'd have to consult the planning department to check whether you could go up one level.

0:34:570:35:03

But if you had that extra space you could relocate the bathroom

0:35:030:35:06

and convert the current bathroom and walk through room into a narrow third bedroom.

0:35:060:35:11

You'd have to weigh up whether the work would be worth it against the value it would add.

0:35:110:35:15

The guide price for this property was £59,000.

0:35:150:35:19

What will a local estate agent make of it?

0:35:190:35:21

Terraced properties do have various layouts

0:35:210:35:23

and this one is no different.

0:35:230:35:25

Upstairs you've obviously got to access the third bedroom,

0:35:250:35:31

into the bathroom, which isn't always ideal.

0:35:310:35:34

Quite often people would turn that into a dressing room or a study,

0:35:340:35:37

that kind of thing, or maybe a baby's room.

0:35:370:35:41

It seems it wouldn't be possible to put a false wall in or anything like that

0:35:410:35:45

and I would just leave the same, possibly create a dressing room of some description.

0:35:450:35:50

I'm still convinced you could extend and make a third bedroom but let's talk cash.

0:35:500:35:55

How much could this property rent out for?

0:35:550:35:58

Rental wise it would comfortably let out, possibly as it is

0:35:580:36:01

at this moment, in the region of £450 per calendar month.

0:36:010:36:06

With a little bit of upgrading it may increase to perhaps £475 per calendar month.

0:36:060:36:11

If it was sold on how would it do in today's market?

0:36:110:36:15

I would imagine if somebody did spend perhaps £7,000 or £8,000

0:36:150:36:19

that the asking price would be in the region of £80,000.

0:36:190:36:22

So, all in all a good little property that I think,

0:36:220:36:26

apart from finding a way of turning the plus bedroom into a proper bedroom,

0:36:260:36:30

you should pretty much leave well alone.

0:36:300:36:32

A good rental or a great place to live.

0:36:320:36:34

Let's find out who bought it when it went under the hammer.

0:36:340:36:37

Over in Burton on Trent, lot number 12,

0:36:400:36:43

start me on this where you like. 56, to start, £56,000...

0:36:430:36:47

56 is bid there, thank you.

0:36:470:36:49

At £56,000, 57, somewhere else, the opening bid is 56, 57...

0:36:490:36:54

58 is bid.

0:36:540:36:57

At 59. Thank you.

0:36:570:37:00

60 is bid at the back, at 60, 61...

0:37:000:37:03

Sir, stick with it. At 61, 62...

0:37:030:37:05

61,500...

0:37:050:37:10

Treat you to the same, 62...

0:37:100:37:13

£62,000, 500 again.

0:37:130:37:16

At £62,000 against you at the back, no mistakes.

0:37:160:37:20

All done, for the first time at 62...

0:37:200:37:22

For the second time at 62...

0:37:220:37:25

Third and last chance, sold to you, sir, at £62,000. Thank you.

0:37:250:37:29

The successful bid of £62,000 came from Chris.

0:37:290:37:32

He has turned his hand to property developing

0:37:320:37:35

since retiring from the brewery trade just under two years ago.

0:37:350:37:39

I met up with him at his new purchase to chat about his plans.

0:37:390:37:43

Chris, congratulations. Tell me why you wanted to buy the house?

0:37:430:37:48

I've got some properties already.

0:37:480:37:51

Not been to an auction before, thought I'd give that a try.

0:37:510:37:54

I was looking to get something at the right price, but it had to be in

0:37:540:37:58

Burton on Trent because I don't want to travel too far.

0:37:580:38:01

-Right.

-And to do it up with a view to selling it on.

0:38:010:38:04

A hobby of mine is the DIY side of it really.

0:38:040:38:07

So, I just do it for a bit of fun.

0:38:070:38:10

If you can make a few bob as well its even better.

0:38:100:38:12

Do you work at the same time?

0:38:120:38:14

No, I'm retired. I took retirement early from the breweries a couple of years ago now

0:38:140:38:21

to spend more time scuba diving actually but I ended up doing a bit of this as well.

0:38:210:38:26

Scuba diving, that's a hobby is it?

0:38:260:38:28

It's a bit more than a hobby now because I'm an instructor as well, so I teach at weekends.

0:38:280:38:32

Also I'm an underwater photographer so go off to exotic places round the world taking photos of fish.

0:38:320:38:39

Clearly Chris is a man of many talents

0:38:410:38:44

but what are his plans for this place?

0:38:440:38:46

I wonder, will he be putting his heart and soul into it?

0:38:460:38:50

What do you plan to do with it then?

0:38:500:38:52

You'll have noticed the windows don't match the door, so I'll tidy everything up into white windows.

0:38:520:38:58

This floor will come up. The whole place will be redecorated.

0:38:580:39:02

-What's wrong with the floor?

-It's a bit tatty and loose in places.

0:39:020:39:05

I like better quality than this.

0:39:050:39:08

I'll put a new kitchen. Although the kitchen looks OK I'm going to put a new kitchen in.

0:39:080:39:11

New bathroom in as well and make the room through towards the bathroom

0:39:110:39:15

into a dressing room, because you've got to go through it to get to the bathroom.

0:39:150:39:19

It's a bit of a dead space otherwise, I think.

0:39:190:39:22

-And what about downstairs, here?

-Downstairs I'm going to knock through into those two little

0:39:220:39:26

outhouses there and make that into a downstairs toilet set up off the back of the kitchen there.

0:39:260:39:30

-So, how much of the work are you going to do yourself?

-All of it. Well, most of it.

0:39:300:39:34

I'll get a plasterer in to do the plastering because my plastering looks like a five year old did it.

0:39:340:39:40

It's a really tough job.

0:39:400:39:43

If there's any significant electrics to be done I'll get that done as well.

0:39:430:39:47

And the actual potential extension at the back, are you happy

0:39:470:39:51

to take that on, dig the foundations, put the thing up?

0:39:510:39:53

Yeah, I'll have a go at that.

0:39:530:39:55

Chris doesn't seem fazed by much and by doing most of it himself he'll save a lot of money.

0:39:550:40:00

So, what's he got to spend on this project?

0:40:000:40:05

I think I can turn this place round for about £8,000

0:40:050:40:09

and I paid £62,000 at the auction for it.

0:40:090:40:12

So, anything I can get towards the £80,000 make a nice little profit.

0:40:120:40:16

And what kind of timescale of got for what you're going to do?

0:40:160:40:18

I think I could get I done in about eight or ten weeks I think.

0:40:180:40:23

But I've got weekends tied up teaching diving and also a trip

0:40:230:40:28

planned in eight weeks' time to go to Sulawesi, underwater photography.

0:40:280:40:32

-Wow.

-So, that will be a bit special.

0:40:320:40:34

So, that's going to take some time out as well.

0:40:340:40:36

I guess three to four months by the time we get it onto the market.

0:40:360:40:41

And moving forward?

0:40:410:40:44

Once this one's sold I'll look for another one.

0:40:440:40:47

Go back to another auction.

0:40:470:40:49

Do you actually enjoy the physical work?

0:40:490:40:52

Yeah, well, it's a challenge.

0:40:520:40:54

I set myself little challenges in life and this is one of them.

0:40:540:40:57

Congratulations, well done.

0:40:570:40:59

Good luck with it. Look forward to seeing how you get on.

0:40:590:41:02

Absolutely.

0:41:020:41:03

Well, Chris has certainly got a great property to practise

0:41:030:41:07

his enthusiastic DIY on

0:41:070:41:09

but I can't help thinking that he's missing a trick

0:41:090:41:13

by not finding some way of relocating the bathroom

0:41:130:41:15

and trying to get three bedrooms out of this property.

0:41:150:41:18

Will he change his mind

0:41:180:41:20

or will taking photographs of fish take priority?

0:41:200:41:23

You can find out later in the show.

0:41:230:41:27

Well, work should be well underway on our properties now as there has been plenty of time to do it.

0:41:290:41:34

So, will there be brick dust and ladders all over the place?

0:41:340:41:38

Let's go back and find out.

0:41:380:41:39

Time now to return to a place I just adored when I first visited,

0:41:390:41:45

a wonderful island near Sunbury on Thames.

0:41:450:41:48

It was here down by the River Thames amongst the ducks

0:41:560:42:00

and other wildlife, I came across and old chalet.

0:42:000:42:04

It was only good for one thing, and that was demolition

0:42:040:42:08

but there was a decent chance that permission could be obtained

0:42:080:42:10

to replace what wasn't much more than a large wooden shack.

0:42:100:42:13

Newly wed couple John and Michelle dug deep into their finances

0:42:130:42:17

and called in a few favours from friends to buy the plot and building for £244,000.

0:42:170:42:23

This was to acquire this dream location for a chance to build a home,

0:42:230:42:27

not just for now but for their future.

0:42:270:42:29

It was never bought or going to be built as an investment.

0:42:350:42:38

Its going to be home, a wonderful place, you'd never want to sell it,

0:42:380:42:41

you'd want to pass it down to your family for years and years

0:42:410:42:44

and let them have the same enjoyment that we hope to have here.

0:42:440:42:47

Michelle was born in Germany and is a qualified doctor

0:42:470:42:51

while John's originally from Dublin.

0:42:510:42:53

Although he's worked as a hotel manager for the last six years

0:42:530:42:56

he had previous experience in the building trade.

0:42:560:42:59

One of their friends is an architect

0:42:590:43:01

so they hoped they could build an eco-friendly property

0:43:010:43:04

worthy of its location, but with finances tight and a proposed budget

0:43:040:43:08

of around £50,000, could they turn this ugly duckling into a swan?

0:43:080:43:15

Well, a full 16 months on,

0:43:200:43:22

we're back, and, boy, have things changed.

0:43:220:43:25

Where once was a falling down shack there's now a striking modern two bedroom abode

0:43:250:43:32

fit for 21st century living.

0:43:320:43:34

And a new home isn't the only new addition here.

0:43:340:43:38

John and Michelle are now proud parents of three month old Marcus but working on a new build

0:43:430:43:49

and the arrival of a baby can't have been easy.

0:43:490:43:53

Very tough because while I was heavily pregnant, it was winter time,

0:43:570:44:01

we had the snow coming in and you didn't have all of your warm clothes ready to put on

0:44:010:44:07

and you had to buy new things as well because of the big tummy.

0:44:070:44:11

It was quite tough, but then when Marcus arrived, it was just great, it was lovely.

0:44:110:44:17

The arrival of baby Marcus added to the pressure for John to finish off the build.

0:44:170:44:22

It seems now they've only got just enough bedrooms with one of them being Marcus's room.

0:44:220:44:29

Then there's the master bedroom, complete with a rather fabulous en suite.

0:44:290:44:36

Eventually there will also be a high quality family bathroom when it's finished.

0:44:400:44:46

From the inside, it looks like a conventional home,

0:44:460:44:49

albeit one that's finished off to a high standard.

0:44:490:44:52

It's only from outside that you realise how radically different it is.

0:44:520:44:58

As you can see, a condition of our planning was that the house must be built on stilts.

0:44:580:45:04

It's in an area liable to flood so, in the event of a flood,

0:45:040:45:07

water must be able to flow through the site unimpeded.

0:45:070:45:11

Hence you have the quite narrow stilts rising up into the main structure,

0:45:110:45:16

which is also an architectural detail of the building as well

0:45:160:45:19

which gives it quite a dramatic impact, I think, anyway.

0:45:190:45:22

Not only is the structure built to withstand flooding but it also has impressive green credentials.

0:45:220:45:28

Thermally, it's ultra efficient.

0:45:280:45:31

Almost half a metre of insulation in the roof.

0:45:310:45:34

The walls are over 200 ml deep. Also you can see the floor.

0:45:340:45:38

This is the original floor level here and then the internal floor level is here,

0:45:380:45:42

so as you can see it's about 200 and then plus my floor level.

0:45:420:45:46

So, we have over 200 ml of insulation in the floors as well.

0:45:460:45:49

The exterior structure has been designed to a very high specification

0:45:490:45:54

and the same level of creative thought and detail has gone into the interior design.

0:45:540:45:59

It's to be as usable as absolutely possible.

0:45:590:46:03

So, every last inch or millimetre was used to the best of our ability

0:46:030:46:08

in accordance with what we would like to use the house as.

0:46:080:46:11

The kitchen's important, we love cooking, the storage area is important

0:46:110:46:15

if you like cooking as well and everything needs to be close at hand.

0:46:150:46:19

So, we've designed a slightly larger kitchen than usual but every single piece of it is essential.

0:46:190:46:26

Every piece of it may be essential but every piece of it had to be brought on site -

0:46:260:46:32

no simple matter on an island.

0:46:320:46:33

It was a little bit of a challenge to get materials on site

0:46:330:46:38

because mostly the materials arrived by barge so logistically it was... can be a little bit difficult.

0:46:380:46:44

If a barge wasn't available well then we had to go the old fashioned way with wheelbarrows

0:46:440:46:50

and had to wheel everything down a lane-way onto the site

0:46:500:46:53

but what doesn't kill you makes you stronger.

0:46:530:46:56

Hiring barges to transport materials and building a high specification designer home

0:46:560:47:01

isn't likely to come cheap.

0:47:010:47:03

I'd expect John's original 50 grand budget has floated off down the river by now.

0:47:030:47:09

I haven't quite worked out how much it has cost me

0:47:090:47:12

but certainly when you build something yourself

0:47:120:47:15

you can build it substantially cheaper than if you had a main contractor in.

0:47:150:47:19

It would be very difficult for me to work out how much I've spent

0:47:190:47:25

but it certainly wasn't too expensive for what we have achieved.

0:47:250:47:29

John's a little coy on how much he spent but I guess

0:47:300:47:34

it's a tad over that original £50,000 budget.

0:47:340:47:37

His view is you can't put a value on this house

0:47:370:47:40

but we know two people who can.

0:47:400:47:42

So, what do they make of this amazing eco house by the river.

0:47:420:47:45

It's fantastic, absolutely wonderful.

0:47:450:47:50

It's bright, it's been finished.

0:47:500:47:52

It's impeccable. Everything he's used, he hasn't, erm...

0:47:520:47:57

He's really thought about the quality of it and it's just stunning.

0:47:570:48:02

I think it's a very unique property, it's eco friendly.

0:48:020:48:08

It's got very unusual and unique features about it.

0:48:080:48:12

Lots of natural products have been used in the flooring, for example, and it's a fantastic setting.

0:48:120:48:18

John and Michelle bought the site for £244,000, but John doesn't want to say how much they spent on it.

0:48:180:48:25

Even so, what could this unique property command on the resale market?

0:48:250:48:30

I'd put this on the current market for £595,000.

0:48:300:48:37

We would put this on the market for £575,000.

0:48:370:48:41

It's a home.

0:48:410:48:42

If you're running a business and that's your business to buy houses and renovate them

0:48:420:48:47

and sell them on, then yes, but we're not so concerned about the valuation.

0:48:470:48:51

Even if it was a purchase made from the heart,

0:48:510:48:54

with those current valuations, I still think it's probably a decent investment too.

0:48:540:48:59

But have they turned what was a great plot with a dilapidated shack

0:48:590:49:03

into a place they can now call their home?

0:49:030:49:07

-Michelle, does it feel like home?

-Absolutely.

-Yeah, definitely.

0:49:070:49:12

It's great here, we love it.

0:49:120:49:13

It's very peaceful, very relaxing, and it's a calming house to live in.

0:49:130:49:17

And for John, Michelle and baby Marcus, it really does seem

0:49:380:49:43

there's no other place they'd rather be.

0:49:430:49:45

Now we're back in Burton on Trent, Staffordshire,

0:49:490:49:52

where this two-bed terraced house sold at auction for £62,000.

0:49:520:49:58

It was bought by Chris who has been enjoying some property developing since his retirement

0:49:580:50:03

from the brewery industry about two years ago,

0:50:030:50:05

although there's definitely something else he'd rather be doing.

0:50:050:50:09

A hobby of mine is the DIY side of it, really, so I just do it for a bit of fun.

0:50:100:50:15

If you can make a few bob, that's even better, isn't it?

0:50:150:50:18

So do you work at the same time?

0:50:180:50:20

No, I'm retired. I took retirement early from the local breweries a couple of years ago now

0:50:200:50:27

to spend more time scuba diving but I ended up doing this.

0:50:270:50:30

I wonder if he enjoyed this renovation as much as his beloved scuba diving.

0:50:300:50:36

We're back just under eight months later to see how he's got on.

0:50:360:50:40

Chris has painted the front of the property and replaced the windows to boost its kerb appeal.

0:50:440:50:49

Inside, he's re-plastered, laid new laminate flooring, replaced all the skirting boards,

0:50:510:50:58

got rid of that old fire and painted in lovely neutral shades, giving the room a bright and airy feel.

0:50:580:51:05

The kitchen has been completely refitted

0:51:050:51:08

with stylish cupboards, tiling and new appliances throughout.

0:51:080:51:13

A fresh paint job and new flooring give the kitchen a stylish modern finish.

0:51:130:51:20

In the kitchen here, I've taken out the galley style kitchen

0:51:200:51:24

where the units really closed down the space and made a bit of a corridor.

0:51:240:51:28

Gone for more of an L-shaped kitchen which opens up the space in the kitchen area here.

0:51:280:51:34

The floor runs right through from the lounge,

0:51:340:51:36

giving a feeling of connection with the two

0:51:360:51:38

and then these lovely worktops and sink units, they just finish it off.

0:51:380:51:43

The stairs and landing have been brightened up with a neutral palette and new carpet.

0:51:430:51:49

The master bedroom has been re-plastered and redecorated,

0:51:490:51:53

giving it a lovely warm appeal.

0:51:530:51:57

The second small bedroom has also benefited from being re-plastered

0:51:570:52:01

and the redecoration makes it feel fresh and clean.

0:52:010:52:05

That questionable third bedroom has also been spruced up with a skim on the walls and some redecoration.

0:52:050:52:13

As for the bathroom, the old suite's been completely replaced, there's been a new floor laid,

0:52:130:52:20

new shower installed and it's been completely tiled to give it a much better finish.

0:52:200:52:26

This little room here could be a study, could be an emergency bedroom

0:52:260:52:30

or even a dressing room, being next to the bathroom.

0:52:300:52:34

In the bathroom, what we've done here is taken out all of the old tiling and units.

0:52:340:52:39

New units in, new tiles throughout, nice little radiator.

0:52:390:52:45

I've kept it a fairly neutral finish so it should appeal to anybody.

0:52:450:52:49

In the back garden, the grass has been cut and a general tidy-up has improved the overall look.

0:52:490:52:54

Chris is yet to decide what to do with it but even as is, it's a great space.

0:52:540:53:00

The back of the house has been repainted and what a difference that makes.

0:53:000:53:06

Chris has done a great job here, but his first buy at auction threw up a couple of bigger issues

0:53:060:53:12

than he was initially aware of.

0:53:120:53:14

Well, the electrics had to come out in the end, which was a bit of a surprise.

0:53:170:53:21

Whilst I was taking the paper off with the steamer suddenly a huge flash and bang,

0:53:210:53:27

found there was a hole in the electrics which somebody had nicely put a nail through

0:53:270:53:33

and not ever repaired, just pulled the nail out and carried on as ever.

0:53:330:53:37

So, with things like that to find, I think it's safer to take it all out and start again.

0:53:370:53:42

Re-plastering became evident when we took the kitchen units down.

0:53:420:53:46

With the kitchen units came the wallpaper and the plaster, leaving bare brick in areas.

0:53:460:53:51

It ended up with Chris having to have every room in the house re-plastered and rewired.

0:53:510:53:57

So how did that affect his plans to do all the work himself?

0:53:570:54:01

We had to get the electrician in to do the connections

0:54:010:54:05

and I got a plasterer in to do the plastering, the finishing plastering.

0:54:050:54:10

Other than that, everything myself, apart from I got my son-in-law in on a couple of occasions

0:54:100:54:15

to climb on roofs because I don't do roofs at my age.

0:54:150:54:18

There was obviously a bit more work to do than he anticipated.

0:54:180:54:23

How did that affect his proposed £8,000 budget?

0:54:230:54:26

I did check up last night and on simple purchasing, I'm under the £8,000 I suggested,

0:54:260:54:35

but timescale's put a bit of extra interest in and things like that.

0:54:350:54:39

So, all in all, we will get away with less than £11,500, something like that.

0:54:390:54:45

Chris spent £62,000 at auction buying the property.

0:54:480:54:52

He's estimated that, once finished, he'll have spent a further £11,500 on the renovation

0:54:520:54:58

which also includes the usual fees and expenses.

0:54:580:55:01

So, with a final total of approximately £73,500, has he made any money on this purchase?

0:55:010:55:08

We asked two local property experts to give us their views.

0:55:080:55:13

It's had a lot of work done to it.

0:55:130:55:15

Great layout, tidy little place, does have a ceiling on price round here,

0:55:150:55:22

but really nice little terraced.

0:55:220:55:25

Very impressed with the improvements that have been made to the property.

0:55:250:55:29

It will enhance the saleability of it.

0:55:290:55:31

Chris plans to sell this property, but also knows that this is a very good rental area,

0:55:310:55:36

so if he can't sell in the current market, he does have that option.

0:55:360:55:42

If we were to let the property out, I'd expect to achieve around £450 per calendar month.

0:55:420:55:48

The rent for this property would be in the region of £500 per calendar month.

0:55:480:55:52

My figures were thinking about £450, so the £500 is encouraging.

0:55:520:55:57

In today's market, how much could he hope to sell it for?

0:55:570:56:01

I would expect it to achieve round about £78,000 to £80,000.

0:56:010:56:08

The resale value of this property is somewhere between £80,000 and £85,000.

0:56:080:56:13

£85,000 is what I was looking for, so I agree with £85,000.

0:56:130:56:18

£78,000 seems a little bit on the low side for me.

0:56:180:56:21

What's next for Chris, another property right away or will he be heading straight for the sea?

0:56:210:56:29

Once this is finished, a little bit to do out the back yet,

0:56:290:56:33

I think I'll take a break and go on a nice diving holiday and then look for something else.

0:56:330:56:39

Join us next time for more Homes Under the Hammer.

0:56:410:56:44

-Yes, we'll have lots more properties and some hopeful buyers for you then. Goodbye.

-Goodbye.

0:56:440:56:49

Subtitles by Red Bee Media Ltd

0:57:110:57:12

Martin Roberts and Lucy Alexander visit a three-bedroom semi in Leigh, Lancashire, a property in Middlesex and a house in Staffordshire. All of these properties have been sold at auction. Martin and Lucy find out who bought them, and what they paid when they went under the hammer.