Episode 77 Homes Under the Hammer

-Hello and welcome.

-Buying at auction is a fascinating experience.

You'll find a wide range of buyers and properties

and it's a great way to gauge the market.

Absolutely. Everything's on offer when you buy your home under the hammer.

You don't have to be a property expert to buy in the auction.

If you put up your hand to make a bid, you could be successful.

Let's see what excited the buyers on today's show.

The poor condition of this Kent bungalow means just one thing.

It's time to start putting on our rose-tinted spectacles, our developer glasses.

I'm in for a big surprise at a basement flat in Lancashire.

This is not what I'm used to seeing! Look, even the lampshades are nice!

And in Wiltshire, as far as I'm concerned,

this former station master's house is right on track for development.

Absolutely marvellous. All in all, I'm loving this place.

-120 is bid.

-All these properties have been sold at auction.

We'll find out who bought them and what they paid for them when they went under the hammer.

I've come to the Kent coast to Littlestone-on-Sea.

It's a small and desirable village close to New Romney,

where the locals are, not surprisingly, making the most of this beautiful sunshine.

Just half a mile from the seafront,

in this lovely residential area, is the property I'm here to see.

It bodes well. Nicely-tended gardens,

the properties look to be in reasonable condition.

The guide price for the one I'm here to see was £120 to £125,000,

which, for a two-bedroomed dormer bungalow, seems quite cheap.

Huh. Well, I can see why.

They always say you should buy the worst house on the best street.

This is a classic case of that. Let's hope it's better inside.

With a guide price of £120 to £125,000,

you might think you're getting a bargain.

But when something sounds too good to be true, it usually is.

# It's about to get worse

# It's about to get worse

# Before it gets better

# It's got to get better #

I really have very low expectations.

A-ha! Crikey. Look at that ceiling.

Well, not normally an optional extra when you buy a house,

but in this one it is,

and it doesn't look like it's very tidy. Yuk.

OK, well, not that sparkling an introduction to the place.

In fact, given the state of that, I'm not even going to go upstairs.

Let's just make do with exploring the, erm,

downstairs.

# I hope it gets better #

So a living room at the front and a second reception at the rear.

Good to see there's a fireplace there.

The current condition's sadly the same,

but as for the room sizes and overall potential,

I'd say it's looking pretty hopeful.

Well, through to the kitchen and it doesn't get much better, as you might expect!

So it's time to start putting on our rose-tinted spectacles, our developer glasses,

and saying, at the moment, it's in a right old state.

That will probably put a lot of people off.

If we can see through what it is to what it might become,

that turns us from being an average person to a proper property person!

With my renewed enthusiasm, I think potential is the magic word.

The dormer extension upstairs isn't spacious enough and the bathroom is pretty tiny.

But rip it all out, get a structural engineer to check that the place is sound,

and you could create a light and pleasant space up here.

# I've got to admit It's getting better

# It's getting better all the time #

You know what? I'm more attracted to the exterior than the interior. No surprises there, I suppose!

You've got a garage there at the side.

And look at this! Lo and behold, you've got this absolutely massive garden!

It doesn't end at the bushes.

It goes all the way back to the tree and even a bit further!

So, what's that? At least 30-40 metres, over 100 feet.

And it's reasonably wide, as well. So great news on lots of levels.

It's somewhere for the kids to play, vegetable plot or whatever,

but also, it gives you space to potentially expand, extend. Fantastic.

# It's getting better all the time #

You'd want to get an architect on the case and submit your plans to the local authority.

But if you got the permission, this place could turn into something special.

Bearing in mind the guide price of £120 to £125,000,

we asked a local estate agent what he thought of this property.

The condition of the property is extremely poor, rundown.

There's water damage. It needs an awful lot of work to turn it round.

Knocking this down and starting again might be a good idea.

There's so much needed doing, the renovation work could be extremely costly.

If it was extended, what kind of resale value could you expect?

If the property were to be extended to a four-bedroom property,

I feel the value would be about £250,000.

How about the rental potential as a four-bed?

On the rental market,

I'd say you would be able to achieve £950 to £1,000 per calendar month.

Well, more than a weekend's work to sort this place out

and not for the inexperienced.

But with the right amount of effort and money, I think this could be a fabulous place.

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

Now we move to lot 55, a detached bungalow.

Total refurbishment required. Got a guide of 120 to 125,000.

Start me at 120,000.

110 to start me, then. I don't mind where we start. 110 I have.

110. 115 I have. 120?

120 is bid. 125. 125 is bid.

And 130. 130 I have. 135?

135 is bid. 140. Yes? 137? I don't mind. 140, sir?

138? I thought you might. 138.

139. 139. And 140. 140 I'm bid. 141?

141 I'm bid. On the right-hand side at 141.

142 do I see? At 141,000, then,

being sold for the first time at 141,000.

For the second time at 141,000. Third and final time at 141,000.

Out to my left, are you all done?

Sold at 141,000. Your bidder's number is...?

Letting out a sigh of relief was new owner Steve,

who bought the property for £141,000.

He and his wife Bernadette plan to make this their new home.

They've recently moved back to the UK from Australia,

where they lived for the past eight years.

Bernadette teaches adult literacy and numeracy.

Steve's background is in the building trade.

Something tells me he's going to need all the know-how he's got for this property!

I met them at the bungalow to find out more.

Steve, Bernadette, lovely to meet you both. Congratulations.

Well, I think "congratulations"!

-That's right.

-I think so!

-Are you up for a challenge?

-Nothing wrong with a challenge.

Tell me about you two.

We've been in the UK for five months. We came back from Australia.

-We've been there for eight years.

-Wow!

Steve's been building beautiful houses over there.

We came back to be close to family.

We went for a few years and stayed eight, so we came back to be near everybody.

-So, you're a builder?

-Yes.

I transferred my skills that way in Australia and ran my own business out there

and now I can bring those skills back here and plough away.

Those skills will be a vital bonus for this property

where there's a lot of work to do!

Why did you want to buy this place?

It ticked lots of boxes.

We need a nice-sized garden for our two golden retrievers.

I wanted a garage so I could work on cars later on when the house is finished.

We only needed a small house for the pair of us, really,

and we think we can make this into a nice home.

-Had you been to see it before you bought it?

-Yes.

We had to squeeze our way through the hedge across the front, which was overgrown.

I said, "This is the place" as soon as I walked in the door.

Most people were going, "This is not the place!"

That's exactly that! People were saying, "This is too much for me."

Rats were running around and that sort of thing!

-What?!

-Down here and just through there.

-The house was full of rubbish.

-There was rats.

-You saw rats?

-We could see rats.

# There's a rat in me kitchen What am I gonna do?

# There's a rat in me kitchen What am I gonna do?

Oh, dear. This really is a house of horrors.

Even once everything has been ripped out,

there's still a lot to be done here.

Tell me exactly what you're going to do to sort it out.

We were hoping you'd come up with a few ideas!

-A bulldozer?!

-That's one of the options!

We're going to leave the front lounge as it is, as a separate room,

and use that as an office, because we both need that space.

We're going to knock the kitchen into the other room and make it into a bigger lounge

and put a single-storey extension on the back.

-We've got quite a tight schedule - ten weeks.

-Ten weeks?

-In ten weeks we want to be in...

-Wow.

..because that suits us with the rental property we're in.

Then we'll start, or have started, the extension by then.

We'll see how it goes.

-So, you'll live in it while you do the extension?

-Yes.

-That's the plan.

If I were Steve and Bernadette, I would be asking my landlord about extending the rental lease.

Ten weeks to get this place sorted doesn't sound long enough to me.

But with Steve's Australian building skills,

let's hope this property has found its hero.

# I need a hero

# I'm holding out for a hero Till the end of the night

# He's gotta be strong And he's gotta be fast

# And he's gotta be Fresh from the fight #

With £20,000 set aside for the house and £15,000 for the extension,

what are they planning upstairs?

We may change the shape of the front dormer and put a gable on that.

I'm speaking to the architect technician at the moment

to come up with some drawings.

So whether that happens is down to the council.

I'm not looking forward to the gardens.

The house doesn't worry me, but the gardens do.

-Oh, wow.

-Because it's such a lot of work.

And then inside, new windows, electrics, new gas, new water pipes, everything.

Yes, absolutely. New heating.

New boiler. Maybe a wood burner in the fireplace.

-That'd be quite nice.

-That's what we'd like. We do feel the cold, so...!

It's no surprise they're feeling cold

after moving from the sunshine coast of Australia to the coast of Kent.

But as they say, there's no place like home.

After eight years in Oz, are you happy to be home?

BOTH: Yes.

It's nice to see our grown-up lads.

-We've got some grandchildren, as well, haven't we?

-We have.

-So it's nice.

-Listen, congratulations.

-Thank you.

-Good luck.

-Thank you!

-We really look forward to seeing how you get on!

-BOTH: Thank you.

Steve and Bernadette are clearly delighted to have got this place

and they had the vision to see what it could become.

However, there's a lot of work to get there

and a very tight timescale of just ten weeks

before they leave their rented accommodation.

Will they do it in time? Find out later in the show!

Now, I've headed to the northwest

to the seaside town of Lytham St Annes in Lancashire.

Lytham is often regarded as the slightly more upmarket and genteel neighbour

to the bright and breezy Blackpool.

Lytham St Annes is not only known as a nice place to come for a seaside holiday,

it's also famous for its golf.

The local golf club has played host to ten Open Championships,

two Ryder Cups and numerous other major golfing tournaments.

So, is the property I'm here to see going to be well above par

or will I be heading into the rough?

# It's rough, so rough

# Out here #

The property I'm here to see is just a mile from the centre of Lytham St Annes.

It's only one road away from the beach.

Here it is. I must say, first impressions are good. It's an attractive property.

As you've probably guessed by the number of parking spaces,

the building has already been divided up into flats.

I'm here to see a two-bedroom basement flat

and it had a guide price of £65,000.

Let's take a closer look.

There are seven flats in this building, converted in 2005.

This flat has an allocated parking space at the back, which is a bonus,

even if the entrance is a bit tight!

There's no outside space, apart from that parking area.

But before I can actually access the property,

I have to negotiate a rather precipitous obstacle.

# Watch your step When you go walking #

Yes, steep stairs to tackle before you've even got in through your front door.

You've got to think about when they're icy,

people with mobility problems, families with buggies...

I've got a feeling it's going to put some buyers off.

# Watch your step... #

I'm usually a little bit wary of basement flats.

They can be a little bit dark and oppressive

and they can sometimes smell a bit damp and musty.

This smells a little bit musty, but I think that's because it's been empty.

There's a few stains on the walls,

which indicate there may've been some damp problems.

I'd get that looked into.

But it doesn't seem dark in here.

You've got a big window here, this lovely big light doorway.

In fact, it's incredibly spacious and in very good condition. This is not what I'm used to!

Look, even the lampshades are nice in here!

You've got contemporary lighting already, a fantastic kitchen!

This is quite a cool pad for the right person.

There's a hob, a nice little sink

and the tiles are really modern and contemporary.

You probably need a new carpet.

Wow! For a guide price of £65,000, this isn't bad at all.

# I call it a bargain

# The best I ever had #

Off the lounge, there's a bathroom, also in fairly good condition and quite modern.

The second bedroom is a decent size.

There really doesn't seem to be much work needed here at all.

And there's still more to this flat.

This is the master bedroom

and I'm really happy to say it's a fantastic size.

You'd easily get a big old bed in here.

I'm not quite sure what this contraption is!

I think that's a cheeky storage area,

but I'd be inclined to get rid of all of this and just open up this nice brick fireplace.

Little bit dark in here because you've only got small windows,

but there's not much you can do about that.

Off the master bedroom, you have the bathroom suite.

Really nice bath, lovely tiles, a loo and a basin over there.

And this... Come with me!

This is what gets me really excited!

Look! This is what I'd call a bonus room.

OK, it's going to cost you, I'd say, a couple of grand,

get this dry lined, plasterboarded, get the electrics in.

You can see it's currently housing lots of plumbing for, potentially, the flats above.

But if you can think about disguising it and covering it up,

you could use this as a walk-in wardrobe, a dressing area.

It's on the plan, so whoever buys this will own this space.

This is the cheeky nugget that will make this flat a real success.

# Well, surprise, surprise

# C'mon, open your eyes

# And let your love shine down #

This bonus room is definitely a surprise.

After all, with flats especially, every square foot counts.

This place has space in bucketloads.

We asked a local estate agent what he thought of this seaside flat.

The flat comes across as very modern throughout.

It doesn't look like it needs much work.

I like the space of the flat and certainly the size

and also the additional space at the rear of the building.

There's lots of opportunities for conversion

or it could be used as a dressing room.

Let's talk money.

Once spruced up, what rental income could be achieved here?

I feel that this flat would let for approximately £500 per calendar month.

And the sale value?

If we were to market the property, it would be in the region of £75,000.

Well, I love this place! It just needs a little tidy up.

And there's the added potential offered by that bonus storage area. I love that!

If you can get this for anywhere near the guide price, it'll be a bargain.

So, who else loved this Lytham flat?

Let's find out who bought it when we head to auction.

This is a vacant two-bedroom basement apartment.

And we'll start at £40,000. 40, do we see?

£40,000 anywhere? £40,000 to start?

40 I've got here. 45, then? 45 I've got there. 50.

50,000. Yes, 50,000 we've got. 55?

Yes, 55. 60? 60,000, I'm looking for. 59 we've got. 60,000 on the phone.

Gentleman's back in, at the back. I've got 60 here. 62.

62, I'm looking for. 62. 63, then? Got it. 64.

64,000 I need on the telephone.

64. Back in. 65. 66 I need now.

£65,000 in the room.

66? No. At £65,000 to you, sir, stood at the back.

First time at 65,000. Second time at 65,000.

We're all finished. 65. We are. Sold to you. Well done.

That final bid of 65,000 was made by Gary,

who grew up in the Lytham area.

He works in the mobile phone industry and has also developed 20 properties in the past,

so isn't a renovation novice.

He recently moved back to Lancashire

after living in Cyprus and the Czech Republic for the last six years.

I met up with him in his new flat to find out more.

# Yes, hey, it's good

# To be back home again #

Gary, great to meet you.

-I think you've got a cracking flat here!

-It's lovely, yes.

Why did you want to buy this?

It's in an area I used to live in. I've moved back into the UK and it's the perfect location.

When you were bidding and thinking, "I think I'm going to get this!" how were you feeling?

Very excited at that price. I assumed it was going to go slightly higher

and it stopped and very, very happy.

What was it about this property that you liked?

The space. I think with a bit of TLC and work, we can get this looking nice.

Let's talk about that little, let's call it a bonus room.

-What is it out there?

-I didn't even know it was there!

There was no electrics, so we couldn't see what was inside.

Did you sort of open that door and go, "Wow!"?

We turned the electric on and went, "Whoa! This is a big room."

# Well, surprise, surprise Surprise... #

That large bonus room really was a big plus for Gary.

Now all he has to do is decide what he'll use it for.

I don't know. A couple of options,

it could stay as it is, subject to how much it'll cost to change,

or we could make a utility room, which I think is where we're heading.

It's got to be all dry lined, damp-proofed, new floors, electrics.

It's beyond me. I'll have to get a builder in.

What about the fact that it's dark and low-ceilinged, how are you going to improve that?

We're going to change the floor - wood floor all the way through.

New lighting everywhere, a special reflective paint

to try and get more light into the rooms.

What about the kitchen, the bathrooms?

They can stay. They just need a little bit of work, nothing major. I think they're OK.

-Is this going to be a Gary pad?!

-This is Gary-and-kids pad.

-Right.

Are you going to have any boys' toys in here?

Yes, flat-screen telly, music system. It's ready to come in pretty quickly.

-Really?! Have you already ordered that?

-It's on its way.

-When are you hoping to move in?

-We want to be in within two weeks.

-Wow!

What will delay things is that extra room.

It might take a couple of months to get it finished, but we'll be in within weeks.

What's the budget?

£10,000 for the whole lot and most of that is cosmetic.

The floor will take a bit of money because we want a proper wooden floor all the way through.

But we hope to come in under 10,000.

Gary's delighted to be back home where he can see more of his two kids and close family.

He's in the process of starting up new mobile phone shops in the area, too.

So it's certainly all go for him at the moment.

I was working in the Mediterranean and the Czech Republic.

I came back to the UK literally about eight weeks ago.

I needed somewhere to live.

Landed, auction, house, purchase,

renovation, business on the go, everything's moving forward.

How are you going to fit this in with working?

I've got about a month before the business takes off,

so we've got to get this completed within four to five weeks

so I can move in and focus on the business.

Fantastic. Good luck. I can't wait to see it with the flat-screen and the lovely flashy toys!

-Thank you.

-Thank you, Gary.

# I said, hey, it's so good

# To be back home again #

Gary does not hang around. He's only been home in the UK for a few months

and he's already bought property and plans to start a new business.

That's a lot to take on all at once.

Luckily, this flat shouldn't cause him too much of a problem, but you never know!

Coming up... I find the perfect family home in Wiltshire.

Great location, great garden.

This is going to go to somebody who wants to live here, and who could blame them?

In Lancashire, has Gary finally put down roots in his basement flat?

I've moved 20 times in 20 years, so I'm tired of moving. I enjoy this apartment.

But first, did Steve and Bernadette bite off more than they could chew?

I was so fed up. We were so tired.

It's now time to head back to Littlestone-on-Sea on the Kent coast,

where we met Steve and Bernadette.

The couple recently moved back to the area after living in Australia for eight years.

Steve's background is in the building trade.

My word, was he going to need all the skills he had

for this two-bedroomed house of horrors!

It was in very poor condition indeed.

# Cos you're filthy

# Ooh, and gorgeous #

They purchased this detached bungalow at auction for £141,000.

The place was in a terrible state.

Floors, ceilings, windows - pretty much everything needed to be replaced.

The front and back gardens were more like forests,

overgrown and out of control.

With so much work to be done here, what were their plans?

Tell me exactly what you're going to do to sort it out.

We were hoping you'd come up with a few ideas!

-A bulldozer?!

-That's it!

We're going to leave the front lounge as it is, as a separate room,

and use that as an office, because we both need that space.

We're going to knock the kitchen into the other room and make it into a bigger lounge

and put a single-storey extension on the back.

So with a budget of £20,000 to spend on the house

and £15,000 for the extension,

we returned 14 weeks later to see what they'd achieved.

What a transformation!

Steve and Bernadette have yet to start the extension for the kitchen,

but let's see what's changed inside.

The couple really have done an amazing job here.

They've replastered, rewired and replumbed throughout.

It's as if they've waved a magic wand here.

Although when it came to the bathroom, it seems some things were a bit more a struggle.

The bathroom... The bathroom was one of our biggest exercises really.

The wife likes to read in the bath,

so, consequently, we got a free-standing bath, which we think will be quite nice.

Getting the bath up the stairs was a different story.

It is very heavy, I was surprised at how heavy it was.

We got it in, got it safely installed, so that was great.

The bathroom suite is contemporary and stylish.

Once the room is decorated,

I'm sure Bernadette will be reading to her heart's content in that fabulous bath.

So, what about the bedrooms?

# Clean, yeah

# Friends with Mr Sheen, yeah #

Gone are those holes in the ceiling and floor.

With all this work done, I'm surprised they had any energy left to tackle the garden.

But just look at what they've done.

Before, there wasn't a garden. It was just a wilderness.

It came right up to the house here.

But now, we've cleared the garden.

Lots of hard work. As you can see, it's opened up to this.

But you can see that it's gone from a very small space

to this huge garden, which we didn't even imagine was here.

And talking about opening up spaces, what about that living room?

# Clean, yeah

# Friends with Mr Sheen, yeah #

Really stunning.

With his building background, Steve really has pulled out all the stops.

How do they think it compares to the original house?

-There's no comparison from what it was like.

-It's certainly different.

It's become our home and we're pleased with it.

Little features that we thought about on day one

-are starting to come to fruition.

-They are.

-It'll all come together at the very end, we hope.

-Hopefully.

Did they stick to the original timescale?

-We did get in in ten weeks.

-We had to.

We gave notice on our rental property

because it was an expensive bill that could be better spent on this house.

They had a budget of £20,000 for the house and £15,000 for the extension.

How did that hold out?

I've actually only spent about £16,500 so far.

I think I'll probably get to that 17,500,

and then I'll spend a similar amount on the extension.

That would take their total budget up to his previous estimate of £35,000

once the extension is built.

Because it hasn't been done yet, they have no kitchen to speak of,

so they're relying on friends, takeaways and microwave meals.

But once the extension is finished that will be all sorted,

with a lovely kitchen and family area leading out onto the garden.

Steve and Bernadette's close friend Carol was closely involved in the clear-up of the garden,

which was quite a task.

It was so overgrown. 10, 12-foot-high with brambles.

And we wondered what we were going to find at the end!

It was quite an achievement when we got to the bottom on the first day.

# Have a little patience #

What does Carol think of it now?

It's lovely. It's lovely and it can only get better.

They've got nice ideas, bright... It's going to be a lovely home.

Steve and Bernadette bought the bungalow for £141,000

and, not including the extension,

reckon their renovation budget would be around £17,500.

That's a total outlay of just under £160,000.

Have their improvements added value here?

We asked two local estate agents for their views.

It's a complete turnaround.

The first time, this property was an absolutely mess,

but this time, you would not recognise it.

Obviously a few things to finish off, but the fittings look good.

Excellent location.

What kind of rent could the couple achieve here?

This property would probably rent at £700 per calendar month.

In the region of £850 per calendar month.

-BOTH: Wow.

-That's something we hadn't thought about, but another option.

-Maybe later on.

-That's good.

If we decide to run off somewhere else for a change of scene! That's good news.

That's a potential yield of between five and six-and-a-half percent,

which is better than money in the bank.

The estate agents reckon the property could sell

for between £190 and £210,000 in its current condition.

That would make the couple a pre-tax profit

of between 31,500 and 51,500.

But what about once they've built that extension?

After the extension, I would think it would be worth in the region of 225 to 230,000.

We'd be happy to market for 210 to 230,000.

-That's nice.

-That's good, as well.

-That makes it worthwhile.

-It does.

Not that we particularly want to move yet, but it's nice to know.

Once you've added the cost of building that extension,

that could mean a profit of between 34 and £54,000,

minus taxes and selling expenses.

So, after moving back from Australia,

does this property feel like home for them now?

It does feel like home, yes. It does.

There were times during the renovations where I made the comment

that I wanted to take the bonfire from the garden and put it indoors!

People remember me saying that, but I was so fed up with the whole thing. We were so tired.

-The last few weeks...

-We've got our own furniture inside.

-Yes, it definitely feels like home.

This is the picture-postcard village of Hullavington in Wiltshire.

With the Cotswolds round the corner and transport links to London,

this place has got a lot going for it.

On the outskirts of Hullavington,

by the side of this railway bridge, is the property I'm here to see.

And that might give you a clue as to who used to live there.

# My baby takes the morning train

# He works from nine till five and then...

# ..he takes another home again

# To find me waiting for him #

Well, the house used to be the home of the local station master.

The station itself has long since closed, but the house remains.

It's got a well in the garden, we like that.

The house itself... Well, that's it. It looks pretty good.

It's a four-bed detached house

and the auction guide price was £325,000.

When you add into the equation this large, secluded garden,

it's looking pretty darned promising to me!

What are we going to find inside?

Nice big lounge. Interesting choice of colour, but a good-size space.

It's got the wood-burning stove there.

It's already got a nice feel to it.

Just change the colour of the walls and the carpet, leave that as it is.

Through here into what...

Basically, it's a continuation of this wonderful sort of family living area.

Stairs up to the bedrooms.

Wonderful big double doors

leading out and looking out across the fields.

Glorious to have that view. It gives this lovely feeling to the property.

Great rooms. And it gets better.

Come through here. It's a bit cramped towards this side.

This is probably the original part of the building.

But through there, big conservatory. A little ante area.

Through into the kitchen. It is a bit tired and dated. You'd want to get rid of this.

You could really have some fun here with a bespoke kitchen,

perhaps with a central unit or a breakfast bar.

You've got lots of extra space. You've got the utility area there.

Absolutely marvellous. All in all, I'm loving this place!

The fact is, there's an awful lot of property here to love.

There are a few damp patches downstairs

and upstairs there's more damp.

It looks like the whole roof might need a thorough going over, which could be costly.

But you have got four decent-sized bedrooms up here

and what looks like a brand-new bathroom suite,

so it's not all bad.

Well, the house is a pretty good size as it is,

however, the good news is that there's also planning permission passed

for the creation of a double garage over there and an extension.

Basically, plans are to increase that flat roof there

with another storey on top to create a double-storey extension

and then to come out this way to create a kitchen-dining area.

You'd have to look at whether or not it was financially viable to do it.

The decision's not about whether it's worth the money,

but whether it's worth it for you and your lifestyle.

If your lifestyle includes a bit of high-speed trainspotting, you're quids in here.

The auction guide price was £325,000.

We asked a local property expert to look round and give us his thoughts.

Obviously, it's a bit tired. On a nice big plot, in a good position.

It's the sort of property that someone could buy and make their own.

What about those trains?

The railway lies to one side of the property.

The trains, we believe, there's two an hour

and they whistle by, so we don't think it's a major issue.

What does this place need to put it back on the right track?

To update it and bring it into today's standards,

you'd want to put a new kitchen in, redecorate and recarpet throughout.

Once done up, what might it fetch on the resale market?

We think the value would be somewhere in the region of £425 to £450,000.

How much could it be rented out for?

You'd be looking at somewhere in the region of £1,000 to £1,200 per calendar month.

What if the buyer takes advantage of the planning permission and extends the property?

If someone was going to extend the property, modernise it and do everything to it,

probably the ceiling value at the end would be in the region of £500,000.

And how about renting out the extended house?

The rental value would probably climb to somewhere between 1,300 and 1,500 per calendar month.

Well, there's a little bit of work to do to sort this place out,

but what you've got here is a lovely family home in a great location, great garden.

This is going to go to somebody who wants to live here, and who could blame them?

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

Lot 25. Needs a bit doing to it, but scope to extend.

Put me at 300. Go for there, shall we? At £300,000.

At 300. Go in fives to start with. 300. 305. 310.

15 I'll take. At 310,000. 15 to the hand. 20.

25. At £320,000.

325. 330.

335. At £330,000.

Five I'll take from anyone. Yes or no? Otherwise it's going to be sold at £330,000.

335.

340. 340. 45 to you, sir. 345. OK, at 345.

Anybody else want a go at 350 or 347,500 if you like?

Yes or no? Otherwise, it's going at £345,000 to you, sir, for the first time.

345,000 for the second time.

345, third and last time.

That successful bid of £345,000 came from Tony.

He is now retired, but used to run his own plastic and mould-making company.

# But no-one knows he really is a...

# ..plastic man #

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

for the former station master's house.

-# Plastic man #

-# Plastic man #

-Tony, lovely to meet you.

-Pleased to meet you, too.

-Congratulations.

-Thank you.

Tell me, why did you want to buy this place?

Er, well, I've been looking for a long time for a nice detached place,

a retirement job, bit of work to do, and this is it.

-It's basically for you to live in.

-I think so, yes. If I can put up with the trains.

They do pass by every now and again. Was that an issue to you at all?

-Well, I live near a racetrack at the moment.

-Right.

So I thought, "This has got to be better!"

It comes and it's gone. Whoosh!

Tell me more about you. Are you local?

I live about eight miles away in Yatton Keynell.

-We were just out for a cycle ride and saw the sign outside.

-Oh, wow!

I thought, "We'll go and have a look around" so we did.

Tell me what you're going to do to it.

Most of the work... I'll start with that flat roof,

get that done, because it's in a bit of a mess.

Get the main roof looked at.

Then we'll start with the plumbing and the electrics.

And then that through there,

I want to knock all that down,

-get upright walls...

-Wow.

-..to make that into a big room.

And through there, which is a utility room,

put a new drain in and that'll be a wet room.

-Like a shower room?

-Yes.

That's the plan, but every time I come, it changes!

Things may not be set in stone just yet,

but it does look as though Tony's not planning to extend the property

as per the approved plans.

I think that makes sense

and allows him to concentrate on getting what's here just right.

-Who will be living here?

-Just my partner and myself.

-Right.

Great. Lovely spot to retire to. Is that the plan?

-I'm retired. I drew my first pension last week.

-Did you? Well done!

So this is my retirement plan, if you like.

How was that, drawing your first pension?!

Quite a relief. I could do with the money!

So all change for Tony. But he does seem fairly laidback

about what could be a pretty big project.

What's the timescale for sorting out the house?

I've given myself a year, but hopefully it'll be less.

Any time pressures to get it sorted? Are you going to live here?

No, I'll stay where I am. I'm only eight miles away.

Have you got an idea how much it'll all cost?

I've got a budget, but whether I'll stick to it, I don't know.

In fact, Tony's budget is around 50 grand.

Fixing the roof and building the garage will certainly eat into that.

-Congratulations.

-Thank you.

-Good luck.

-Cheers.

-We look forward to seeing how you get on.

-Lovely.

After a long search, Tony and his partner

have found a wonderful place to retire to.

Lots of work to be done, but a reasonably realistic budget.

But a year to do it? That's a long time.

How will they get on? Find out later in the show.

The world of property can be a bit of an uphill struggle

and even the best-laid plans can turn into a downward spiral.

You need to put lots of hard work in

before you reach the home straight and secure victory.

So, how did the buyers on today's show get on?

Time now to head back to Lytham St Annes in Lancashire

where Gary bought this two-bedroom basement flat for £65,000.

After living abroad for six years, he's returned to his hometown

so he can see more of his two children

and set up his new mobile phone shops.

The flat was in pretty good condition already, with quality fixtures and fittings.

The kitchen didn't need much work at all.

Plus, there was a bonus - a small cellar-type room off the master bedroom

that needed some work, but would provide extra space.

All Gary had to do was to decide how to make best use of it.

I don't know. A couple of options,

it could stay as it is, subject to how much it'll cost to change,

or we could make it a utility room, which I think is where we're heading.

It's got to be all dry lined, damp-proofed, new floors, electrics.

It's beyond me. I'll have to get a builder in.

With a budget of between 10 and 15,000,

has Gary managed to flood this basement flat with light

and turn it into a shiny hi-tech pad for himself?

Just seven weeks later, we're back to find out.

Since you were last here, we've done the floor, which is now solid oak.

We've redecorated the whole place with special light-reflecting paint, which has worked very well.

The fireplaces have all been closed up with plasterboard.

And we've done the back room.

OK, be patient, viewers. We're saving that bonus room for later.

In the meantime, let's check out the kitchen.

With the kitchen, there wasn't that much to do. It needed a good clean.

It needed new appliances - oven, hob, that sort of thing, a fridge-freezer.

But, basically, we kept it as it was.

That reflective paint really helps brighten up these rooms.

-# Let it shine #

-With extra lighting added,

-the master bedroom truly shines.

-# Let it shine #

The lighting here and throughout the house, we changed to LED.

My parents walked in and said, "Your electricity bill is going to be huge!"

I thought, "They're right", so we changed them to three-watt LED lights,

which is the equivalent of a 120-watt lightbulb, which is fabulous.

The foundations were here. This was all exposed brickwork.

We had it treated for a bit of damp, plastered over.

Bit of artwork works really well.

This is the original floor.

Literally down on our hands and knees, cleaning.

Seven or eight coats of varnish and it's come up nicely.

And what about that bonus room?

Well, just take a look at this.

Gary has created a fabulous walk-in wardrobe just off the ensuite.

This is a fantastic use of space, which also adds extra storage.

From a resale perspective, this room raises the value, as Gary explains...

This is what was the cellar room.

We've got some walk-in wardrobe space here, the water system is in here,

the washing machine and dryer is in here

and more wardrobe space here.

I would've probably made it an office,

but from a resale perspective, it had to be something more useful,

so we went for a walk-in wardrobe and I think it works.

This room certainly gives the property more space and shine,

and with flats especially, every square foot really does count.

Did Gary run into any problems during the renovation?

Considering it's a basement apartment,

we only found a tiny bit of damp on the fireplace.

We treated that and that's no longer an issue.

We were pleased we didn't have any other issues regarding damp within the property.

In a lovely flat like this, with all Gary's fancy toys and hi-tech equipment,

surely he went over his original budget of 10,000?

From a budget perspective, we actually came in under budget.

With everything, including the back room, we came in at £9,700,

which was handy because I hadn't budgeted for smaller things.

Returning to the UK, I didn't have anything,

so I had to go out and buy TVs, hi-fi systems.

We bought a nice fire, which is electric with water vapour.

But things like pillows, pillowcases, quilts, quilt covers,

I hadn't budgeted for and that adds up.

So the fact that we came in under budget helped out with the bits and pieces.

Gary's budget came in just short of 10,000 in the end,

which is pretty impressive, given what he's achieved here.

It was all done in a matter of weeks. But how?

Work-wise, I brought joiners and plasterers in where needed.

My parents helped out.

Very old, 75, but they can paint, as long as you give them tea!

And my children! I had one with a screwdriver, one with a paintbrush and we managed it between us.

Gary's spent just short of £75,000 in total on this two-bed flat,

including the 65-grand purchase price.

Could he have added much value in just a few weeks?

Let's see what two local estate agents think of his efforts.

My first impressions of the property,

I feel it's very modern, trendy.

I like the benefit of having the walk-in wardrobe

and the way the bathroom's been altered.

I think the way the vendor has done the project,

I couldn't see how he could maximise it further.

He's done it to a high finish and gone as far as I think you can.

What's their opinion of the walk-in wardrobe conversion?

The way the vendor has changed the cellar and extended through the back

is quite impressive, really using the most of the space.

And again, with a high-end finish, it gives it that wow factor.

How much rent could he get?

I'd expect this property to let in the region of £500 per calendar month.

The rental value on this property would be £500.

Sounds about right for the market place. I'd guess that's about fair.

That's a pretty healthy yield of eight percent.

What's the resale value? Remember, Gary's total outlay is around £75,000.

In my opinion, the property would sell in the region of 85 to 90,000.

I would suggest to market this property in the region of £85,000.

Seems a little bit low for me.

But I guess, present market, if I was selling, I might have to put it on at that sort of price.

What's that, a 15, 20 percent return? It's still OK.

I'd say it's OK, too.

Especially considering it's only a matter of weeks since we first met Gary.

Those valuations would see him with a potential pre-tax profit

of between ten and £15,000,

minus the usual selling expenses, of course.

But this is his new home, so he's staying put for the time being.

I've moved 20 times in 20 years, so I'm a bit tired of moving.

This is one of my favourite properties I've had.

The way we designed it, particularly with the wardrobe,

it's designed to appeal to maybe a family or a couple.

I'll see what happens next year with the market. If it picks up, I'll maybe put it on.

If not, I'll enjoy living here.

We're back in Hullavington, Wiltshire,

to check on progress at the old station master's house

which Tony bought at auction for £345,000.

It was to be a project for his retirement.

The priority was to sort out the leaky roofs,

tackle those nasty damp patches

and then he was going to get stuck into knocking down walls

and rearranging the place.

I want to knock all that down to make that into a big room.

And through there, put a new drain in and that'll be a wet room.

-Like a shower room?

-Yes.

That's the plan, but every time I come, it changes!

11 months after our first visit,

we're back to find out if it's been full steam ahead...

..or a case of leaves on the tracks for this station master's house.

# This train

# Don't stop

# This train don't stop

# This train don't stop there

# Any more #

Well, Tony hasn't quite reached his final destination,

but he has managed to tackle the biggest problem in this property -

the leaking roof.

There was a major leak upstairs, the roof,

so the roof's been completely redone, refelted and battened,

and that's got rid of that.

Clearly, there's still landscaping to do outside

and a double garage to build,

but true to his word,

Tony has made a big difference to the rather tired old kitchen.

# Get on, get on, get on, get on Get on

-# My groovy train #

-# Get on my groovy train #

Right, this is my new kitchen.

We've knocked down the walls over here.

New floors, new walls,

new roof, ceilings,

all new everything.

Double ovens.

One for each, since my partner's a vegetarian.

And how do you like my pop-up plugs?

# Pop music... Talk about

# Pop music #

There you go. All mod cons.

That lime-green utility room has popped off this mortal coil, too.

This used to be the utility room. There was no water, no electric, no drainage in here,

so I put this wall up here to divide this area up.

New sink, toilet and shower.

I'm really pleased with it.

Most people give it a wow factor, so I'm happy with that.

With the help of a plasterer, an electrician and his son Rob,

things are looking very good downstairs.

Now Tony's got to battle on and get things finished upstairs.

Hopefully now, it's mostly rubbing down

and filling and slapping the paint on.

Tony gave himself a year to do the work. He's been at it for 11 months already.

How long until he and his partner, Pamela, can move in as planned?

A couple of months, I would think. So...

We'll do the lounge,

a couple of bedrooms and a bathroom and then we'll move in

and do the rest once we're here.

So maybe he's one month behind schedule,

but what about his £50,000 budget?

Has that gone off like a runaway train?

I reckon it's cost me 60, with the garage and everything, so it'll end up being about that.

If Tony's spend does come in at 60,000,

his total outlay will be £405,000.

We asked two local estate agents to look around and give us their thoughts.

The standard's very good. Lovely big kitchen knocked through,

changed the utility to a downstairs shower room.

If they keep going, it's going to be very, very nice.

The key things he has to do to make this a good property,

he needs to finish the double garage, I think that's really important,

decorate the rooms

and bring the property back up to its original state, which he is doing,

and then the property would sell very well.

Sounds like Tony's on the right track.

What might the property fetch on the resale market once the work's complete?

I would value this property at £425,450.

You're probably looking at somewhere in the region of 450 to 465,000.

About right, yes. About what I would've thought.

If Tony finishes the work,

those resale valuations could see him with a profit

of between 20 and 60,000, minus tax and the usual expenses.

How about rental?

Somewhere in the region of £1,200 to £1,300 per calendar month.

The rental figure I would put on this property is £1,700 per calendar month.

Very good. I think I might rent it out, then!

Joking aside, is Tony tempted to sell or rent?

It depends how much you want for a year's work!

So for me, it's fine, because I don't want to sell it.

When it's all finished, I think it will be a lovely property

for Tony and Pamela to enjoy their retirement.

What has Tony made of the process so far?

It's going quite well.

The bits that I've done I'm very pleased with.

Er... Hard work.

But, then, what are we here for but to work hard?!

We hope you enjoyed today's tales of auction high and lows.

-We look forward to seeing you next time.

-BOTH: Good bye.

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