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Hello and welcome to Homes Under The Hammer. | 0:00:02 | 0:00:03 | |
Now, for many people going to auction gives a chance | 0:00:03 | 0:00:06 | |
to buy properties that are in need of a bit of work. | 0:00:06 | 0:00:08 | |
That's right. People really like to put their own stamp and style | 0:00:08 | 0:00:11 | |
on their property, and hopefully make a bit of profit along the way. | 0:00:11 | 0:00:14 | |
And buying at auction could give you the opportunity to do just that. | 0:00:14 | 0:00:18 | |
We love the buzz and the excitement of the auction room, | 0:00:43 | 0:00:47 | |
because you can really sense the frustration and hope in the air. | 0:00:47 | 0:00:50 | |
Yes, and you never know how it's going to go until the final second. | 0:00:50 | 0:00:54 | |
So let's see what tempted our buyers on today's show. | 0:00:54 | 0:00:58 | |
We revisit Bristol to see if anyone | 0:00:59 | 0:01:01 | |
got permission to change these former public loos. | 0:01:01 | 0:01:04 | |
Of course, if they don't get planning permission, all their money could disappear down the pan. | 0:01:04 | 0:01:08 | |
In Burnley, this mid-terrace has been turned upside down | 0:01:09 | 0:01:12 | |
by thieves who stopped at nothing. | 0:01:12 | 0:01:15 | |
There's no floor! Gone! Bye-bye! History. | 0:01:15 | 0:01:19 | |
And the prospect of renovating this former Baptist Church in Mid Glamorgan | 0:01:19 | 0:01:23 | |
leaves me weak at the knees. | 0:01:23 | 0:01:25 | |
I always get a tingle of excitement coming into a place like this. | 0:01:25 | 0:01:30 | |
All these properties have been sold at auction. | 0:01:30 | 0:01:32 | |
We find out who bought them and what they paid for them | 0:01:32 | 0:01:35 | |
when they went Under The Hammer. | 0:01:35 | 0:01:37 | |
It's yours, sir. Thank you. | 0:01:37 | 0:01:39 | |
We're in Bristol to visit a property that caused a bit of a stink | 0:01:44 | 0:01:47 | |
when I first saw it, way back in March 2005. | 0:01:47 | 0:01:52 | |
The auction guide price was an earth-shatteringly low £3,000. | 0:01:52 | 0:01:55 | |
So I was desperate to find out more. | 0:01:55 | 0:01:58 | |
This city does have some stunning architecture. | 0:02:00 | 0:02:03 | |
The Clifton Suspension Bridge, the Wills Memorial, | 0:02:03 | 0:02:06 | |
some beautiful Georgian terraces, fantastic houses. | 0:02:06 | 0:02:10 | |
So coming up for auction is this... | 0:02:10 | 0:02:15 | |
# Flash! | 0:02:15 | 0:02:17 | |
# A-ah! # | 0:02:17 | 0:02:19 | |
It's a public toilet. | 0:02:19 | 0:02:22 | |
But is it a flash in the pan? | 0:02:22 | 0:02:24 | |
Well, this waterworks | 0:02:24 | 0:02:26 | |
and the tiny piece of land it sits on under the bridge | 0:02:26 | 0:02:29 | |
isn't quite the sumptuous property I was hoping for. | 0:02:29 | 0:02:32 | |
But it's up for auction. | 0:02:32 | 0:02:34 | |
I don't know. I guess we should have some fun with this. | 0:02:34 | 0:02:38 | |
Let's see how many puns about toilets I can get into one report. | 0:02:38 | 0:02:41 | |
Well, I suppose I'm going to have to be SYSTEMATIC | 0:02:41 | 0:02:44 | |
about how I go about it. | 0:02:44 | 0:02:47 | |
I guess it's a CONVENIENT location. | 0:02:47 | 0:02:49 | |
Whoever buys it, will they be "clean around the bend"? | 0:02:49 | 0:02:52 | |
And will they have to spend a "pretty penny" on it? | 0:02:52 | 0:02:55 | |
Four, not bad for a start. | 0:02:55 | 0:02:58 | |
Let's take a look inside. | 0:02:58 | 0:02:59 | |
I reckon we could really "loos" ourselves with this one. | 0:03:01 | 0:03:04 | |
First off, it's an old block, probably built in the early '30s. | 0:03:04 | 0:03:08 | |
Like all good toilets, there are two sides, a ladies and a gents. | 0:03:08 | 0:03:12 | |
A quick walk round to the side and you're in. | 0:03:12 | 0:03:15 | |
Well, it's certainly an ENGAGING project. | 0:03:17 | 0:03:21 | |
I'm not sure it's one that URINAL take on. | 0:03:21 | 0:03:25 | |
What do you reckon? | 0:03:25 | 0:03:27 | |
I DUNNY know. | 0:03:29 | 0:03:30 | |
With a guide price of just £3,000, | 0:03:30 | 0:03:33 | |
this lot could really wipe the floor with others I've seen in the past. | 0:03:33 | 0:03:38 | |
But it doesn't have planning permission to be anything other | 0:03:38 | 0:03:41 | |
than a public toilet, and that's why the person who buys this at auction | 0:03:41 | 0:03:44 | |
is taking one heck of a gamble and will just have to go with the flow. | 0:03:44 | 0:03:48 | |
So do you think I'm plumbing the depths? Heck, no. I'm on a roll. | 0:03:53 | 0:03:57 | |
So, are you bowled over by the possibilities? | 0:03:57 | 0:04:00 | |
Are you flushed with excitement? | 0:04:00 | 0:04:02 | |
Or just scared s...stupid. | 0:04:02 | 0:04:04 | |
One thing you've got to remember, at least you are buying at auction, | 0:04:04 | 0:04:08 | |
so you won't find yourself in a chain. | 0:04:08 | 0:04:11 | |
Joking aside, this block is an interesting lot | 0:04:11 | 0:04:15 | |
and it could become anything. | 0:04:15 | 0:04:17 | |
Someone might want to use it for storage, or perhaps as a boathouse, | 0:04:17 | 0:04:20 | |
or maybe turn it into a shop. | 0:04:20 | 0:04:22 | |
Or, if they're really ambitious, | 0:04:22 | 0:04:24 | |
they might want to try their luck and turn it into a residential unit. | 0:04:24 | 0:04:28 | |
Any change of use will inevitably require many, | 0:04:28 | 0:04:31 | |
and possibly lengthy, dealings with the planning department, | 0:04:31 | 0:04:34 | |
but keep your fingers and toes crossed | 0:04:34 | 0:04:37 | |
and you could be sitting on a bit of a winner here. | 0:04:37 | 0:04:39 | |
So maybe this isn't such a daft thing to buy after all. | 0:04:39 | 0:04:43 | |
If the purchaser could get planning permission | 0:04:43 | 0:04:46 | |
then they could well expose the sweet smell of success. | 0:04:46 | 0:04:49 | |
Of course, if they don't get that planning permission, | 0:04:49 | 0:04:52 | |
all their money could disappear down the pan. | 0:04:52 | 0:04:55 | |
TOILET FLUSH | 0:04:55 | 0:04:56 | |
Not bad. Let's go to the auction. | 0:04:56 | 0:04:58 | |
Lot Two, former public toilets at Sea Mills Lane in Sea Mills. | 0:04:58 | 0:05:05 | |
A single-storey building. Suitable for other uses, other than toilets. | 0:05:06 | 0:05:12 | |
Workshop, storage, we've had a variety of ideas for this. | 0:05:16 | 0:05:21 | |
The guide is £3,000. Somebody start me at £3,000. Do I see £3,000? | 0:05:22 | 0:05:27 | |
Two, then? £2,000 I will take. £2,000, thank you. Two, I have. | 0:05:27 | 0:05:32 | |
Three, I am looking for. | 0:05:32 | 0:05:33 | |
£3,000, thank you. Three, I have. Four now? Four. | 0:05:33 | 0:05:36 | |
£4,000, thank you. Four, I have. Five? | 0:05:36 | 0:05:39 | |
Four I have, five I'm looking for. Five, thank you. Six? Six. | 0:05:39 | 0:05:44 | |
Seven? Eight? Eight. Nine? Ten? | 0:05:44 | 0:05:49 | |
Want to make it 12 so we can go a bit faster? | 0:05:51 | 0:05:53 | |
11, all right. Just a thought. | 0:05:53 | 0:05:56 | |
No. 11, I have. | 0:05:56 | 0:05:58 | |
Are we done at £11,000? 12. 13. | 0:05:58 | 0:06:02 | |
The bid is against you now, sir. 14? | 0:06:03 | 0:06:06 | |
15? | 0:06:08 | 0:06:09 | |
16? | 0:06:09 | 0:06:10 | |
I'd like to go a bit higher, but there you go. | 0:06:10 | 0:06:12 | |
16? 17? | 0:06:12 | 0:06:15 | |
18? | 0:06:15 | 0:06:16 | |
It's still cheap. Very cheap. | 0:06:17 | 0:06:20 | |
At £17,000. | 0:06:20 | 0:06:22 | |
For the first time, | 0:06:22 | 0:06:25 | |
for the second time, | 0:06:25 | 0:06:27 | |
at £17,000, for the third and last time. | 0:06:27 | 0:06:31 | |
Sold to you, sir. | 0:06:31 | 0:06:34 | |
The successful bidder, who paid £17,000, is Coley. | 0:06:34 | 0:06:39 | |
He paid well over the guide price for this loo under the bridge. | 0:06:39 | 0:06:43 | |
He's a barber by trade, so is used to grooming. | 0:06:43 | 0:06:47 | |
But will this toilet water be heaven sent? | 0:06:47 | 0:06:50 | |
-So, Coley, very nice to meet you. -Nice to meet you. | 0:06:52 | 0:06:54 | |
I have been so intrigued to know who would buy this place. | 0:06:54 | 0:06:59 | |
-You've bought a toilet. -You can say that at the moment. | 0:06:59 | 0:07:02 | |
At the moment it is a toilet, but, hopefully, with the help of planners | 0:07:02 | 0:07:06 | |
and a good architect, we could come up with something attractive here. | 0:07:06 | 0:07:09 | |
-So have you seen the internal features? -No, not at all. | 0:07:09 | 0:07:12 | |
First time I've got the keys today. | 0:07:12 | 0:07:13 | |
You haven't used the toilet? | 0:07:13 | 0:07:15 | |
I haven't had a chance to use them, I'm hoping to bless them. | 0:07:15 | 0:07:17 | |
Well, that is sounding dreadful! | 0:07:17 | 0:07:19 | |
-Should we go and look inside? -Let's go and have a look. -OK, come on then. | 0:07:19 | 0:07:22 | |
Well, it's got unusual kerb appeal. | 0:07:22 | 0:07:26 | |
I just hope Coley won't be disappointed, | 0:07:26 | 0:07:28 | |
first impressions are so important. | 0:07:28 | 0:07:30 | |
Oh dear. | 0:07:30 | 0:07:32 | |
Not going to get much use of this as it is, am I? | 0:07:32 | 0:07:35 | |
I was hoping to find something attractive that I could keep and... | 0:07:35 | 0:07:38 | |
Like what? | 0:07:38 | 0:07:40 | |
Some old ornaments that some guy left when he built the thing. | 0:07:40 | 0:07:43 | |
-Can we go outside and talk some more? -I think so. Good idea. | 0:07:45 | 0:07:48 | |
So, listen, tell me a bit about you. | 0:07:53 | 0:07:55 | |
What kind of a person buys a loo? | 0:07:55 | 0:07:56 | |
Well, I've always been involved in property, as in buying it, | 0:07:56 | 0:08:00 | |
doing it up, mainly letting. | 0:08:00 | 0:08:01 | |
I was looking for a smaller investment, | 0:08:01 | 0:08:04 | |
which didn't involve such capital. | 0:08:04 | 0:08:07 | |
This came along with the right price, right location. | 0:08:07 | 0:08:09 | |
A Brownfield site, so potential for planning. | 0:08:09 | 0:08:13 | |
And it's something that I'd like to get into a bit more now, | 0:08:13 | 0:08:16 | |
the development side, rather than the buying, doing up and rent. | 0:08:16 | 0:08:19 | |
So when you saw this | 0:08:19 | 0:08:21 | |
in the auction catalogue, what was your first reaction? | 0:08:21 | 0:08:24 | |
I knew the area quite well | 0:08:24 | 0:08:26 | |
and I felt as though a residential dwelling here | 0:08:26 | 0:08:29 | |
would go well with the planners. | 0:08:29 | 0:08:31 | |
Then the guide price was very good, and so then it was just a case | 0:08:31 | 0:08:35 | |
of going to the auction and seeing if it would go for the right price. | 0:08:35 | 0:08:39 | |
The loo was guided at £3,000, | 0:08:39 | 0:08:43 | |
but Coley paid over five times that at 17,000. | 0:08:43 | 0:08:48 | |
It could prove to be a major gamble because there's one minor problem that hasn't been solved. | 0:08:48 | 0:08:52 | |
To get things clear, it doesn't have planning permission yet, does it? | 0:08:53 | 0:08:58 | |
That's right, yes. I've spoken to the local council | 0:08:58 | 0:09:01 | |
and they are in favour of some kind of development, | 0:09:01 | 0:09:03 | |
as long as it's in keeping with the area. | 0:09:03 | 0:09:05 | |
My biggest challenge is it's going to be that it's in a conservation area, | 0:09:05 | 0:09:08 | |
so I'm going to have to be careful how I plan it and develop this build | 0:09:08 | 0:09:12 | |
-so that it's in keeping with them. -So it's actually quite a large plot. | 0:09:12 | 0:09:15 | |
Yes, I'm thinking two one-bed flats, | 0:09:15 | 0:09:17 | |
but possibly even a three-bed house, almost. | 0:09:17 | 0:09:20 | |
That is very ambitious. | 0:09:20 | 0:09:23 | |
Although the plot of land is quite a good size, | 0:09:23 | 0:09:25 | |
any building wouldn't be able to go right to the boundary | 0:09:25 | 0:09:28 | |
and I suspect it would need to fit in | 0:09:28 | 0:09:30 | |
with the appearance of the bridge. | 0:09:30 | 0:09:33 | |
So in terms of specific plans, do you have any so far? | 0:09:33 | 0:09:36 | |
I am going to go with the eco-friendly type build, | 0:09:36 | 0:09:39 | |
and try and help the environment | 0:09:39 | 0:09:41 | |
by making it look attractive as well as being environmentally friendly. | 0:09:41 | 0:09:45 | |
The ground floor would be the same material as the bridge here, | 0:09:45 | 0:09:48 | |
which is a stone type face. | 0:09:48 | 0:09:50 | |
The second floor would be timber cladding, | 0:09:50 | 0:09:52 | |
which would then blend in with the greenery around here, | 0:09:52 | 0:09:55 | |
and the roof would be a ski slope type roof, to match the wall. | 0:09:55 | 0:10:00 | |
-In a sense, it would blend into the corner. -What did your friends say? | 0:10:00 | 0:10:05 | |
-Have you told them yet? -Yes, I've told them! | 0:10:05 | 0:10:09 | |
The funny thing is my brother bought one last year, | 0:10:09 | 0:10:11 | |
-and done the same thing. -Your brother bought one? | 0:10:11 | 0:10:14 | |
Yes, so they're saying it's in the family now! | 0:10:14 | 0:10:16 | |
Coley really has got the bug, but is he "round the bend"? | 0:10:16 | 0:10:19 | |
Well, there's two more in auction this month | 0:10:19 | 0:10:22 | |
and if they're for the right price, I might go for another one. | 0:10:22 | 0:10:25 | |
-So you'll end up with a whole chain of them. -A whole chain of loos, yeah! | 0:10:25 | 0:10:29 | |
Well, that was in March 2005. | 0:10:30 | 0:10:35 | |
But when we returned to Bristol three months later | 0:10:35 | 0:10:38 | |
there had been very little movement. | 0:10:38 | 0:10:40 | |
We discovered that Coley's ambitious plans for the former public toilet | 0:10:40 | 0:10:44 | |
had got a bit bogged down. | 0:10:44 | 0:10:45 | |
Well, originally the idea was to demolish the building and rebuild a new building. | 0:10:45 | 0:10:49 | |
The planning department would rather see me extend what's currently there. | 0:10:49 | 0:10:53 | |
I am planning to go up a floor, so double the size. | 0:10:53 | 0:10:56 | |
Keep the current footprint, but increase the internal side of it. | 0:10:56 | 0:11:01 | |
Despite the former loos being in a conservation area | 0:11:01 | 0:11:05 | |
and the proximity to the water requiring him | 0:11:05 | 0:11:07 | |
to produce a flood risk assessment, Coley was undeterred. | 0:11:07 | 0:11:11 | |
With a helping hand from his architect, | 0:11:11 | 0:11:14 | |
he put in motion a revised plan. | 0:11:14 | 0:11:16 | |
He's come out with some really good ideas. | 0:11:16 | 0:11:18 | |
We're going to put a balcony on the top floor, | 0:11:18 | 0:11:21 | |
and make the top floor our living area. | 0:11:21 | 0:11:24 | |
The balcony also helps as a means of escape | 0:11:24 | 0:11:26 | |
because this is a flood risk area. | 0:11:26 | 0:11:29 | |
But it also became clear that Coley wasn't averse to making a quick profit on the loos as they stood. | 0:11:29 | 0:11:35 | |
I've had four offers since I bought it. | 0:11:35 | 0:11:38 | |
The best one is around the £30,000 mark, which I am tempted to do. | 0:11:38 | 0:11:43 | |
I could walk away with a profit of around £13,000-£14,000 | 0:11:43 | 0:11:46 | |
without actually doing any work to it | 0:11:46 | 0:11:48 | |
and it's not cost me more than £500 so far. | 0:11:48 | 0:11:50 | |
And that was the route that Coley finally decided upon. | 0:11:50 | 0:11:54 | |
He accepted an offer of £28,000, | 0:11:54 | 0:11:57 | |
which gave him a pre-tax profit of around £10,500. | 0:11:57 | 0:12:01 | |
Not bad for a few months sitting on the loo. | 0:12:01 | 0:12:03 | |
But over six years on, | 0:12:03 | 0:12:07 | |
what has become of these former public toilets? | 0:12:07 | 0:12:09 | |
You can find out later in the show. | 0:12:09 | 0:12:11 | |
Today, I am 40 minutes north of Manchester, | 0:12:15 | 0:12:18 | |
in the old mill town of Burnley, Lancashire. | 0:12:18 | 0:12:21 | |
In its heyday, it was one of the largest producers of cotton cloth | 0:12:21 | 0:12:25 | |
in the world. | 0:12:25 | 0:12:26 | |
# If I came back to the land of cotton | 0:12:26 | 0:12:29 | |
# Would you love just me? # | 0:12:29 | 0:12:32 | |
Victorian terraced houses built for the foundry and mill workers | 0:12:32 | 0:12:37 | |
still make up a large proportion of the town's housing stock. | 0:12:37 | 0:12:42 | |
And just walking distance from the hospital, | 0:12:42 | 0:12:45 | |
and a short bus ride from the uni, | 0:12:45 | 0:12:47 | |
is the property I'm here to see today. | 0:12:47 | 0:12:49 | |
It's a two-bedroom mid-terrace, | 0:12:49 | 0:12:51 | |
at the incredibly low guide price of £10,000-£15,000. | 0:12:51 | 0:12:57 | |
Surely this is going to be a bargain. | 0:12:57 | 0:12:59 | |
But look at the security shutters. | 0:12:59 | 0:13:02 | |
Not exactly welcoming. | 0:13:02 | 0:13:04 | |
Time for a thorough examination, excuse me. | 0:13:04 | 0:13:08 | |
Get a load of that! | 0:13:10 | 0:13:14 | |
There's the front door, there's the window. | 0:13:14 | 0:13:17 | |
I mean, nothing prepares you for the state of this room. | 0:13:17 | 0:13:22 | |
I don't know what it is, there's loads of old stone. | 0:13:22 | 0:13:24 | |
I don't know what all this stuff is. | 0:13:24 | 0:13:26 | |
Look, there's just so much rubbish. You need to get a skip, | 0:13:26 | 0:13:30 | |
you need to clear this lot out before you can even see this room. | 0:13:30 | 0:13:35 | |
Once you've done that, my guess is it's a good size. | 0:13:35 | 0:13:38 | |
You've got central heating, it's a good space. | 0:13:38 | 0:13:42 | |
I'm just wondering what all that rubbish over there is. | 0:13:42 | 0:13:44 | |
I need to have a look. | 0:13:44 | 0:13:47 | |
This is why there is piles of stone in this corner. Look at this! | 0:13:48 | 0:13:53 | |
There's no floor! Gone. Bye-bye! History! | 0:13:53 | 0:13:57 | |
Some naughty little person has been in here | 0:13:57 | 0:14:00 | |
and scarpered with the original York stone flooring | 0:14:00 | 0:14:03 | |
that these houses are so famous for having in their living areas. | 0:14:03 | 0:14:08 | |
What a travesty! | 0:14:08 | 0:14:10 | |
Now I know that York stone is a very expensive material to use, | 0:14:10 | 0:14:13 | |
and it's a top end desirable stone. | 0:14:13 | 0:14:16 | |
Look at this! | 0:14:16 | 0:14:17 | |
Whoever takes this on will need to take the rest of this up, | 0:14:17 | 0:14:20 | |
lay down a damp proof membrane and then concrete over | 0:14:20 | 0:14:23 | |
before choosing their carpet or their laminate flooring. | 0:14:23 | 0:14:27 | |
But this is a big old job and not a cheap one. | 0:14:27 | 0:14:30 | |
Let's hope the new owners view this property first, | 0:14:30 | 0:14:33 | |
otherwise, it's going to be a huge shock to walk into this. | 0:14:33 | 0:14:38 | |
# You have stolen my heart. # | 0:14:38 | 0:14:46 | |
But if you look beyond the piles of rubble that used to be the floors, | 0:14:46 | 0:14:50 | |
the property does have two decent sized reception rooms. | 0:14:50 | 0:14:53 | |
And although the kitchen's on the small side, | 0:14:53 | 0:14:55 | |
some new units will make it a perfectly serviceable space. | 0:14:55 | 0:14:59 | |
'The state of this place makes me wonder what surprises | 0:14:59 | 0:15:03 | |
'lie in wait for me on the first floor.' | 0:15:03 | 0:15:06 | |
Upstairs, it's not in bad shape. It feels really solid. | 0:15:06 | 0:15:11 | |
You've got a good-sized room there. | 0:15:11 | 0:15:13 | |
Second bedroom there. Then... | 0:15:13 | 0:15:16 | |
The bathroom! Look at it! It's in a right, old state. | 0:15:16 | 0:15:20 | |
Very similar to what's going on downstairs. | 0:15:20 | 0:15:24 | |
That toilet belongs on that wall. That bath should be over there. | 0:15:24 | 0:15:27 | |
My guess is, somebody's been in, ripped up the floorboards | 0:15:27 | 0:15:30 | |
because of the copper piping underneath. | 0:15:30 | 0:15:32 | |
Again, that's quite valuable. | 0:15:32 | 0:15:35 | |
Whoever takes this on needs to think about this bathroom. | 0:15:35 | 0:15:38 | |
A bit of money needs to be spent in here, | 0:15:38 | 0:15:40 | |
but I will say one thing, it's good to see the bathroom upstairs. | 0:15:40 | 0:15:44 | |
# Upside working | 0:15:44 | 0:15:48 | |
# Downside hurting | 0:15:48 | 0:15:51 | |
# Hear my echo | 0:15:51 | 0:15:54 | |
# Dancing bear. # | 0:15:54 | 0:15:57 | |
'The upside of the upstairs is that it all looks easily sortable. | 0:15:59 | 0:16:04 | |
'At the back of the property, it's much the same, | 0:16:04 | 0:16:07 | |
'the mess needs clearing and the roof looks OK. | 0:16:07 | 0:16:10 | |
'But those windows and doors are sure to need a bit of attention.' | 0:16:10 | 0:16:13 | |
'We asked a local estate agent for his views on this two-bed terrace, | 0:16:17 | 0:16:21 | |
'which went to auction with a guide price of ten to 15,000.' | 0:16:21 | 0:16:25 | |
In all honesty, in my job, | 0:16:25 | 0:16:27 | |
you see properties like this on a day-to-day basis. | 0:16:27 | 0:16:31 | |
I don't think for somebody who's got their head screwed on | 0:16:31 | 0:16:34 | |
it's that big a task to actually get it sorted out. | 0:16:34 | 0:16:37 | |
Obviously, on the face of it, it requires some updating, | 0:16:37 | 0:16:40 | |
some works to it in order to make it habitable, | 0:16:40 | 0:16:43 | |
owing to what looks like a property which has been empty for some time, I would say. | 0:16:43 | 0:16:47 | |
'If you sort out those flaws and get the place up to scratch, | 0:16:49 | 0:16:53 | |
'what could the property be worth on today's market?' | 0:16:53 | 0:16:56 | |
I think in the current market, | 0:16:56 | 0:16:59 | |
with the levels of demand that there are out there, for this kind of property, | 0:16:59 | 0:17:02 | |
you'd look at it being as a maximum in the region of 35 to £40,000. | 0:17:02 | 0:17:07 | |
'What kind of figure could it rent out for?' | 0:17:07 | 0:17:10 | |
There's certainly a demand there now for rental properties in the area. | 0:17:10 | 0:17:15 | |
I would think you could look somewhere around £300 to £325 per calendar month. | 0:17:15 | 0:17:21 | |
A huge amount of work to be done to this neglected, | 0:17:23 | 0:17:27 | |
old terraced house to bring it back to life! | 0:17:27 | 0:17:30 | |
But what about that price, ten to £15,000. What a bargain! | 0:17:30 | 0:17:36 | |
Let's see who was tempted when it went under the hammer. | 0:17:36 | 0:17:40 | |
Lot 162 is a mid-terraced house in need of renovation. | 0:17:43 | 0:17:47 | |
£5,000, somebody start me at 5,000? | 0:17:47 | 0:17:50 | |
5,000, I've got here. Six, here. | 0:17:50 | 0:17:51 | |
Seven, I've got. Eight, nine, | 0:17:51 | 0:17:53 | |
ten, £11,000, I've got. 12,000 here. | 0:17:53 | 0:17:57 | |
13, got it. 14? Yes. 15? | 0:17:57 | 0:18:01 | |
14,500? 15? 15,500 on my left. | 0:18:01 | 0:18:05 | |
16. And a half? | 0:18:05 | 0:18:08 | |
Yes. 17. And a half? | 0:18:08 | 0:18:11 | |
18. 18,500? | 0:18:11 | 0:18:13 | |
19. 19 I've got. And a half? | 0:18:13 | 0:18:17 | |
Got it. | 0:18:17 | 0:18:18 | |
20,000. 20,500? No? | 0:18:18 | 0:18:20 | |
20,500, 21? No. | 0:18:20 | 0:18:24 | |
20,500, first time. | 0:18:24 | 0:18:26 | |
Second time, are we all done now? | 0:18:26 | 0:18:29 | |
Third and final time? Yes, we are. | 0:18:29 | 0:18:31 | |
Well done, sir, your paddle number, please. | 0:18:31 | 0:18:33 | |
'Raising his paddle to confirm that successful bid of £20,500 | 0:18:33 | 0:18:38 | |
'was property developer, Patrick. | 0:18:38 | 0:18:40 | |
'He bought the house with his friend, self-employed joiner, Paul.' | 0:18:40 | 0:18:43 | |
MUSIC: The A-Team theme tune | 0:18:43 | 0:18:45 | |
'They're both from Leeds and already own three properties together. | 0:18:49 | 0:18:52 | |
'Will they be the A-Team to take this one on? | 0:18:52 | 0:18:55 | |
'And, will their plan come together?' | 0:18:55 | 0:18:57 | |
Patrick and Paul, it's fabulous meeting you today. | 0:19:02 | 0:19:06 | |
Boys, are they smiles on your faces, or not? | 0:19:06 | 0:19:09 | |
Well... | 0:19:09 | 0:19:11 | |
Because I know you haven't viewed this property | 0:19:11 | 0:19:13 | |
and today is the first time you've ever seen it? | 0:19:13 | 0:19:16 | |
Yes. That's right. We came in today, yes. | 0:19:16 | 0:19:18 | |
We got the shutters off and we came through the door today and we were in shock. | 0:19:18 | 0:19:22 | |
-Why were you in shock? -Well... | 0:19:22 | 0:19:24 | |
I think we've had the thieves in and the Yorkshire stone had been taken | 0:19:24 | 0:19:28 | |
and, you know, it was a mess, really. | 0:19:28 | 0:19:30 | |
I mean, quite a lot of surface debris but you can get past that. | 0:19:30 | 0:19:34 | |
Oh, yeah, no problem. | 0:19:34 | 0:19:37 | |
-But this is not what you expect to see. -No, no. -Not at all. | 0:19:37 | 0:19:40 | |
You guys have got a lot of work putting this back together again. | 0:19:40 | 0:19:43 | |
-That's right, yeah. -That's added to your budget, hasn't it? -It has, yes. | 0:19:43 | 0:19:46 | |
It may have paid for you to have looked up the property prior to the auction. | 0:19:46 | 0:19:50 | |
Without a doubt, yeah. | 0:19:50 | 0:19:51 | |
-I think if we had looked, definitely we would have left it. -Yeah. | 0:19:51 | 0:19:54 | |
I've said it before, but what these guys have just said really | 0:19:54 | 0:19:59 | |
hammers home that buying blind is a very risky business. | 0:19:59 | 0:20:02 | |
You just never know whether that risk is going to pay off, | 0:20:02 | 0:20:05 | |
or leave you ruing the day. | 0:20:05 | 0:20:09 | |
# Think for a minute | 0:20:09 | 0:20:12 | |
# Stop for a minute. # | 0:20:12 | 0:20:16 | |
Paul and Patrick went to the auction to bid on a commercial property | 0:20:17 | 0:20:20 | |
but when they didn't bag that one, they made a slightly dangerous decision. | 0:20:20 | 0:20:25 | |
Why were you getting desperate? | 0:20:26 | 0:20:29 | |
I always say, nobody should ever feel desperate in an auction situation | 0:20:29 | 0:20:32 | |
-because that's when you spend too much money. -We just wanted to spend some money. | 0:20:32 | 0:20:35 | |
Yeah, that's right. | 0:20:35 | 0:20:36 | |
-Was it burning a hole in your pocket? -It was. | 0:20:36 | 0:20:38 | |
The problem is, usually if you go to some of the auctions they last for an hour, maybe two. | 0:20:38 | 0:20:43 | |
This, because we'd been there four-and-a-half hours, | 0:20:43 | 0:20:45 | |
we felt like we wanted to get something out of the day, which was not a good way to buy. | 0:20:45 | 0:20:49 | |
Why did you decide this one would be a good one to bid for? | 0:20:49 | 0:20:51 | |
We didn't actually decide anything, we just took a chance on it. | 0:20:51 | 0:20:55 | |
Patrick, he's right in what he's saying. | 0:20:55 | 0:20:58 | |
For that amount of money, we thought it was a back-to-back | 0:20:58 | 0:21:03 | |
and it happened to be a through terrace. | 0:21:03 | 0:21:06 | |
I know it's in a bit of disrepair | 0:21:06 | 0:21:08 | |
but it's nothing we can't knock into shape between us. | 0:21:08 | 0:21:11 | |
It is, actually, not bad condition. | 0:21:11 | 0:21:13 | |
I mean, the walls look painted, | 0:21:13 | 0:21:15 | |
everything is looking shiny, apart from the mess and the floor. | 0:21:15 | 0:21:19 | |
What are you guys going to do to turn it around? | 0:21:19 | 0:21:22 | |
We'll get this floor done, but a damp proof membrane, | 0:21:22 | 0:21:25 | |
screed the floor, | 0:21:25 | 0:21:27 | |
then paint it throughout. | 0:21:27 | 0:21:29 | |
Just put new carpet all the way through, where necessary. | 0:21:29 | 0:21:32 | |
A few kitchen units. | 0:21:32 | 0:21:34 | |
It needs a new front and back door and, whatever else is required. | 0:21:34 | 0:21:38 | |
The bathroom suite wants sorting out. | 0:21:38 | 0:21:41 | |
We'll take it from there and see what happens. | 0:21:41 | 0:21:43 | |
So, boys, budget, have you made the list? | 0:21:43 | 0:21:45 | |
How much will you need to spend to rectify this? | 0:21:45 | 0:21:48 | |
5,000. | 0:21:49 | 0:21:50 | |
What?! £5,000 - | 0:21:50 | 0:21:52 | |
kitchen, bathroom, stone, copper piping, £5,000? | 0:21:52 | 0:21:56 | |
Definitely under five, no problem. | 0:21:56 | 0:21:58 | |
Patrick, you're very confident. | 0:21:58 | 0:22:00 | |
-So you think you can do this for under five grand? -Definitely, under five. | 0:22:00 | 0:22:03 | |
What is your secret? | 0:22:03 | 0:22:04 | |
The secret is, we're going to use the existing products in the bathroom. | 0:22:04 | 0:22:09 | |
We're going to put a new kitchen in it and then paint it throughout. | 0:22:09 | 0:22:12 | |
I mean, a lot of it is superficial, really. Is not as bad as it looks. | 0:22:12 | 0:22:15 | |
When we get it cleared out it will definitely be under five. | 0:22:15 | 0:22:18 | |
'Ambitious as it may sound, | 0:22:18 | 0:22:21 | |
'Paul and Patrick are determined to stick to that budget. | 0:22:21 | 0:22:24 | |
'Having paid £20,500 for the property, | 0:22:24 | 0:22:27 | |
'they need to if they want a healthy return. | 0:22:27 | 0:22:30 | |
'But they're no strangers to a challenge. | 0:22:30 | 0:22:32 | |
'Not only did they buy this property blind, | 0:22:32 | 0:22:34 | |
'but, as they hail from Leeds, this area is also something of a question mark.' | 0:22:34 | 0:22:40 | |
Why have you guys decided to invest in an area that you don't know, | 0:22:42 | 0:22:45 | |
is it because of the price? | 0:22:45 | 0:22:47 | |
-Yes. -Just the price. -Basically, yes. | 0:22:47 | 0:22:49 | |
And desperation that we weren't buying anything. | 0:22:49 | 0:22:52 | |
You definitely wanted to spend your money on that day, didn't you? | 0:22:52 | 0:22:55 | |
-We wanted to spend it on that day. -I'm really excited to see this place turned around | 0:22:55 | 0:22:59 | |
because it can only go up. | 0:22:59 | 0:23:01 | |
At the moment is not looking too hot. | 0:23:01 | 0:23:04 | |
-Good luck. -Thank you. -Congratulations. -Thank you very much. | 0:23:04 | 0:23:06 | |
Let's hope you stick to that £5,000 budget. | 0:23:06 | 0:23:08 | |
-Yeah, we'll see. -We hope. | 0:23:08 | 0:23:10 | |
Patrick and Paul went to the auction and bought this | 0:23:12 | 0:23:15 | |
so as not to make a wasted journey - | 0:23:15 | 0:23:17 | |
money burning hole in pockets springs to mind - | 0:23:17 | 0:23:20 | |
But I think they're secretly quite disappointed | 0:23:20 | 0:23:25 | |
with the state of this place, | 0:23:25 | 0:23:26 | |
but Patrick is adamant he can turn this around for £5,000. | 0:23:26 | 0:23:31 | |
Join us later in the programme and you can see how they do. | 0:23:31 | 0:23:34 | |
'Coming up, planning permission for this Mid Glamorgan Baptist church is looking tricky.' | 0:23:35 | 0:23:40 | |
Mmm, the options are starting to narrow themselves a bit. | 0:23:41 | 0:23:45 | |
'In Burnley, Patrick and Paul remind us of that golden rule | 0:23:45 | 0:23:49 | |
'for buying property...' | 0:23:49 | 0:23:51 | |
Never, ever buy anything unseen. | 0:23:51 | 0:23:55 | |
But, first, what has become of these former public loos in Bristol, | 0:23:57 | 0:24:01 | |
now they are under new ownership? | 0:24:01 | 0:24:04 | |
Earlier in the programme, we went back to March 2005, | 0:24:09 | 0:24:14 | |
when Coley bought this former public toilet in Bristol for £17,000. | 0:24:14 | 0:24:19 | |
There was no planning permission in place for the site | 0:24:19 | 0:24:23 | |
but Coley had rather grand designs to knock the loos down and put up a two-storey building. | 0:24:23 | 0:24:28 | |
When we first returned three months later, no progress | 0:24:31 | 0:24:34 | |
had been made, as Coley's initial planning application had been knocked back. | 0:24:34 | 0:24:39 | |
His architect was wading through the red tape, associated | 0:24:39 | 0:24:42 | |
with the plot being in a conservation area and a flood risk area. | 0:24:42 | 0:24:47 | |
Before any revised plans were submitted, Coley decided | 0:24:47 | 0:24:50 | |
to sell the property on and pocketed a tidy profit of around £10,500. | 0:24:50 | 0:24:55 | |
Well, that was back in 2005. | 0:24:58 | 0:25:00 | |
Since that time, the property market is very different | 0:25:00 | 0:25:03 | |
and the former public toilet has had three different owners. | 0:25:03 | 0:25:07 | |
It's been a long, drawn out process with the planning issues, | 0:25:07 | 0:25:11 | |
the moving of a gas main | 0:25:11 | 0:25:13 | |
and the requirement of a archaeological report into possible Roman remains. | 0:25:13 | 0:25:18 | |
So, six-and-a-half years since we first visited, | 0:25:18 | 0:25:21 | |
we're back to see if the current owner, Neil, | 0:25:21 | 0:25:24 | |
a full-time property developer who lives just outside Bristol, | 0:25:24 | 0:25:28 | |
has managed to unblock the problems of these old public toilets. | 0:25:28 | 0:25:32 | |
# Let your love flow like a mountain stream | 0:25:32 | 0:25:35 | |
# Let your love flow with the smallest of dreams | 0:25:35 | 0:25:39 | |
# And let your love show and you'll know what I mean | 0:25:39 | 0:25:43 | |
# It's the season... # | 0:25:43 | 0:25:45 | |
That's a resounding yes. | 0:25:46 | 0:25:48 | |
Sitting on the site of the former loos | 0:25:48 | 0:25:52 | |
is an upside-down, two-bed eco-friendly house. | 0:25:52 | 0:25:54 | |
On the ground floor there's a study, | 0:25:54 | 0:25:57 | |
a bathroom, | 0:25:57 | 0:25:58 | |
the second bedroom | 0:25:58 | 0:26:01 | |
and a utility room. | 0:26:01 | 0:26:03 | |
Upstairs, is the master en suite bedroom and the main living area. | 0:26:05 | 0:26:10 | |
Neil purchased the site in June 2011. | 0:26:12 | 0:26:15 | |
It may have taken a long time, and several owners, | 0:26:15 | 0:26:18 | |
but from the most unlikely of origins, something special has emerged. | 0:26:18 | 0:26:23 | |
I'm very pleased we've been able to establish | 0:26:23 | 0:26:26 | |
a very large kitchen/lounge/diner, which is very airy. | 0:26:26 | 0:26:29 | |
A superb kitchen, huge windows, to pick up on that fantastic view. | 0:26:29 | 0:26:35 | |
# I can see for miles and miles | 0:26:35 | 0:26:38 | |
# And miles and miles. # | 0:26:38 | 0:26:41 | |
When Neil purchased the site, a lot of the hard work had been done, | 0:26:43 | 0:26:47 | |
including getting that all-important planning permission. | 0:26:47 | 0:26:51 | |
The chap I bought it from had started digging. | 0:26:51 | 0:26:55 | |
He'd demolished the toilets. | 0:26:55 | 0:26:57 | |
He dug the foundations, he concreted them. | 0:26:57 | 0:27:01 | |
But, in doing so, there was a Roman archaeological survey. | 0:27:01 | 0:27:05 | |
There was a gas main going right across the site | 0:27:05 | 0:27:08 | |
and he had extra deep foundations. | 0:27:08 | 0:27:11 | |
I think, all those three things put together, | 0:27:11 | 0:27:13 | |
were a bit too much for him and he and his wife decided | 0:27:13 | 0:27:16 | |
that he wasn't helping himself, so he put it on the market. | 0:27:16 | 0:27:19 | |
So, for £69,000, Neil stepped in. | 0:27:19 | 0:27:23 | |
He bought the site and the plans | 0:27:23 | 0:27:24 | |
and spent an impressive four months finishing the project. | 0:27:24 | 0:27:28 | |
I inherited the full working drawings, which was great | 0:27:29 | 0:27:32 | |
because that was part of the preparatory work. | 0:27:32 | 0:27:36 | |
I stuck to them within a gnat's whisker, shall we say. | 0:27:36 | 0:27:39 | |
I did change the odd bit of internal element | 0:27:39 | 0:27:43 | |
because it was an improvement which could be made. | 0:27:43 | 0:27:46 | |
The property has timber cladding | 0:27:46 | 0:27:48 | |
and a special living roof which is covered in the plant, Sedum. | 0:27:48 | 0:27:52 | |
As well as giving it a unique look, this is also designed | 0:27:52 | 0:27:55 | |
to provide ecologically friendly, natural insulation. | 0:27:55 | 0:27:58 | |
The eco credentials of this place really are top-notch. | 0:27:58 | 0:28:02 | |
# It's good to touch | 0:28:03 | 0:28:06 | |
# The green, green grass of home. # | 0:28:06 | 0:28:11 | |
I've tried to keep the house as eco-friendly as possible. | 0:28:13 | 0:28:17 | |
The house has been insulated massively. | 0:28:17 | 0:28:20 | |
The whole house has been soundproofed | 0:28:20 | 0:28:23 | |
to ensure there is no noise from any traffic. | 0:28:23 | 0:28:27 | |
For example, all the timber has been sourced from sustainable sources. | 0:28:29 | 0:28:33 | |
Neil's done all of this work with a view to selling the house on. | 0:28:33 | 0:28:37 | |
In fact, I imagine he's spent a pretty penny on the former loos. | 0:28:37 | 0:28:41 | |
The cost of this building has been unusually high | 0:28:43 | 0:28:48 | |
because of the nature of the quality of the materials | 0:28:48 | 0:28:51 | |
that have gone into it, the insulation, the eco-side | 0:28:51 | 0:28:55 | |
and the general finish. | 0:28:55 | 0:28:56 | |
Overall, we've paid, including the cost of the land, just over £200,000. | 0:28:56 | 0:29:01 | |
Well, in for a penny, in for a pound. | 0:29:01 | 0:29:04 | |
There's no doubt this is now a unique property. | 0:29:04 | 0:29:07 | |
How do you start putting a value on it? | 0:29:07 | 0:29:11 | |
I wish I knew how much this would sell for | 0:29:13 | 0:29:15 | |
because I would then know what to put it on the market at. | 0:29:15 | 0:29:20 | |
Because there is no comparison, | 0:29:20 | 0:29:22 | |
it will only be worth what somebody is willing to pay for it. | 0:29:22 | 0:29:25 | |
'We asked two local property experts | 0:29:26 | 0:29:29 | |
'to share their thoughts on this one-off eco-house.' | 0:29:29 | 0:29:32 | |
I think what the developer has produced is absolutely fantastic. | 0:29:32 | 0:29:36 | |
The difference in the look of the street. | 0:29:36 | 0:29:38 | |
Obviously, the toilet before was very unattractive | 0:29:38 | 0:29:42 | |
and this contemporary property that's here now, is superb. | 0:29:42 | 0:29:45 | |
The developer has done a great job, it's a very unique site. | 0:29:45 | 0:29:48 | |
I think it needed something just as unique to go here. | 0:29:48 | 0:29:50 | |
Something contemporary like this fits well. | 0:29:50 | 0:29:52 | |
I really like the views. | 0:29:52 | 0:29:55 | |
I love the feel that you're almost in the countryside here, | 0:29:55 | 0:29:57 | |
yet only a ten-minute drive away from the centre of Bristol. | 0:29:57 | 0:30:00 | |
'Do they have a sense of what kind of rental the property might attract?' | 0:30:02 | 0:30:06 | |
I think the house would rent well, especially given its location | 0:30:06 | 0:30:09 | |
close to the train station and commuting links. | 0:30:09 | 0:30:11 | |
I would hope to achieve circa £750 per calendar month. | 0:30:11 | 0:30:15 | |
I would estimate this property is likely to rent for something | 0:30:15 | 0:30:17 | |
in the region of £750 per calendar month. | 0:30:17 | 0:30:20 | |
I'm not tempted at all because this isn't really... | 0:30:20 | 0:30:23 | |
My intention was to sell it | 0:30:23 | 0:30:25 | |
because I need to turn my money over to do the next project. | 0:30:25 | 0:30:29 | |
'What about putting a resale value on the house. | 0:30:31 | 0:30:34 | |
'This may be one where they have to go with their gut.' | 0:30:34 | 0:30:37 | |
It's an unusual property. There isn't anything like this in this area. | 0:30:37 | 0:30:41 | |
I would expect, on the open market, to achieve between 180 to 190,000. | 0:30:41 | 0:30:46 | |
My gut feeling on the value is likely to sell | 0:30:46 | 0:30:48 | |
somewhere in the region of 180 to £185,000. | 0:30:48 | 0:30:51 | |
'Well, those resell valuations would see Neil making a loss | 0:30:54 | 0:30:58 | |
'of around £20,000 on the property. | 0:30:58 | 0:31:00 | |
'Does that come as a surprise to him?' | 0:31:00 | 0:31:02 | |
I don't see how they can compare the prices of this | 0:31:04 | 0:31:08 | |
with anything in the area. | 0:31:08 | 0:31:09 | |
Nothing surprises me | 0:31:09 | 0:31:12 | |
because it will only be worth what somebody will pay for it. | 0:31:12 | 0:31:16 | |
'Neil has had a third valuation from a different estate agent | 0:31:17 | 0:31:20 | |
'of between 250 and £280,000, | 0:31:20 | 0:31:24 | |
'which just goes to show you how even property experts find it hard | 0:31:24 | 0:31:28 | |
'to put a value on something so unusual. | 0:31:28 | 0:31:31 | |
'How has Neil enjoyed the project?' | 0:31:31 | 0:31:33 | |
I think it's been a fantastic project. | 0:31:33 | 0:31:37 | |
I'm looking forward to selling it to somebody, somebody who will enjoy | 0:31:37 | 0:31:40 | |
a fantastic house, with a beautiful view, superb communications | 0:31:40 | 0:31:45 | |
and be living in something that has been built | 0:31:45 | 0:31:49 | |
with an eco-friendly stance. | 0:31:49 | 0:31:52 | |
I'm in the village of Abercynon in South Wales. | 0:31:58 | 0:32:01 | |
Since the mines closed down in the 1980s, | 0:32:01 | 0:32:03 | |
this has been a commuter place, | 0:32:03 | 0:32:05 | |
easy access to Cardiff and the M4. | 0:32:05 | 0:32:07 | |
It may not have too much work at the moment | 0:32:07 | 0:32:10 | |
but if you're after scenery, it's just the place. | 0:32:10 | 0:32:13 | |
There's a good range of local shops in the village and transport | 0:32:15 | 0:32:18 | |
is pretty good as there are two railway stations close by. | 0:32:18 | 0:32:21 | |
Well, terraced houses like this are very typical of the area | 0:32:24 | 0:32:28 | |
and the property I'm here to see isn't one of them. | 0:32:28 | 0:32:32 | |
With a guide price of £18,000... | 0:32:32 | 0:32:36 | |
up for grabs was this former chapel. | 0:32:36 | 0:32:40 | |
# When you call my name | 0:32:42 | 0:32:44 | |
# It's like a little prayer | 0:32:44 | 0:32:46 | |
# I'm down on my knees | 0:32:46 | 0:32:48 | |
# I want to take you there... # | 0:32:48 | 0:32:50 | |
'It was built in 1905 while the area | 0:32:50 | 0:32:53 | |
'at the back was formerly a 17th century chapel. | 0:32:53 | 0:32:57 | |
'It seems to have stood the test of time | 0:32:57 | 0:32:59 | |
'but access into the building isn't great. | 0:32:59 | 0:33:02 | |
'These two rather steep sets of steps are the only way in | 0:33:02 | 0:33:06 | |
'and that could be a stumbling block for any potential buyer.' | 0:33:06 | 0:33:10 | |
I always get a tingle of excitement coming into a place like this. | 0:33:12 | 0:33:15 | |
You never know quite what you're going to find. | 0:33:15 | 0:33:18 | |
More often than not, old chapels like this are in a pretty bad state. | 0:33:18 | 0:33:23 | |
But not in this instance! | 0:33:25 | 0:33:27 | |
Absolutely wonderful, look at this. | 0:33:27 | 0:33:31 | |
It doesn't look, on the face of it, like it's had too much, | 0:33:31 | 0:33:34 | |
I don't know, water ingress or other stuff going on. | 0:33:34 | 0:33:38 | |
It doesn't smell too damp. It's a good start. | 0:33:38 | 0:33:41 | |
There's some floorboards up here, that'll need investigating but one huge, great space. | 0:33:41 | 0:33:45 | |
Look at that organ, absolutely fantastic. Oh! | 0:33:45 | 0:33:48 | |
Let's go and explore some more. | 0:33:48 | 0:33:50 | |
# ..Let the choir sing... # | 0:33:50 | 0:33:52 | |
'The organ is still in full working order | 0:33:52 | 0:33:56 | |
'but isn't the only eye-catching feature in here. | 0:33:56 | 0:33:58 | |
'Just look at the ornate moulded ceiling, beautiful. | 0:33:58 | 0:34:03 | |
'The situation with the floor isn't attractive. | 0:34:03 | 0:34:05 | |
'Some of the floorboards have been pulled up and it looks like there are some signs of damp. | 0:34:05 | 0:34:10 | |
'I would get those dealt with as soon as possible, | 0:34:10 | 0:34:13 | |
'as in such a large building, you don't want damp spreading.' | 0:34:13 | 0:34:16 | |
At the rear of the chapel, behind where that glorious organ is, | 0:34:16 | 0:34:20 | |
you've got this extra area, probably used as a Sunday school, | 0:34:20 | 0:34:25 | |
a function room, or whatever you want. There's loos here as well. | 0:34:25 | 0:34:28 | |
What this really says is this building is massive. | 0:34:28 | 0:34:30 | |
It goes on and on and on, doesn't it? | 0:34:30 | 0:34:32 | |
I mean, the ceiling height in here isn't quite as high | 0:34:32 | 0:34:34 | |
and yet I reckon you could probably take out that ceiling | 0:34:34 | 0:34:37 | |
and go up even more into the rafters. | 0:34:37 | 0:34:40 | |
All in all, it's a lot of property for the money. | 0:34:40 | 0:34:43 | |
# All I do each night is pray | 0:34:44 | 0:34:48 | |
# Oh, girl | 0:34:48 | 0:34:49 | |
# Hoping that I'll be a part of you again some day | 0:34:49 | 0:34:52 | |
# Oh, yeah... # | 0:34:52 | 0:34:54 | |
'With this much space, I'm sure there were several potential buyers | 0:34:54 | 0:34:58 | |
'praying they'd get their hands on this property. | 0:34:58 | 0:35:02 | |
'At the back there's a small kitchen area. | 0:35:02 | 0:35:04 | |
'Access to the balcony seating is from the entrance hall | 0:35:04 | 0:35:07 | |
'where you get a chance to take in the glory of the chapel.' | 0:35:07 | 0:35:11 | |
Now you're probably thinking, as I was when I first came in here, | 0:35:11 | 0:35:14 | |
wouldn't this make the most fantastic house, | 0:35:14 | 0:35:16 | |
or possibly convert it into flats? | 0:35:16 | 0:35:19 | |
There's an interesting moneymaking idea. | 0:35:19 | 0:35:21 | |
The problem is, I don't think you'd get planning permission, | 0:35:21 | 0:35:23 | |
partly because planning wouldn't like the fact there is | 0:35:23 | 0:35:27 | |
virtually no parking around here. What are your options? | 0:35:27 | 0:35:31 | |
Currently, it's got classification as non-residential institution, | 0:35:31 | 0:35:35 | |
which means you can possibly run it as a creche, | 0:35:35 | 0:35:38 | |
maybe a library or an art gallery. | 0:35:38 | 0:35:40 | |
Then you've got to check whether those facilities are needed | 0:35:40 | 0:35:43 | |
in this area and again I'm not so sure. | 0:35:43 | 0:35:46 | |
Suddenly, what seemed like a great idea... | 0:35:46 | 0:35:48 | |
Mmm, the options are starting to narrow themselves a bit. | 0:35:48 | 0:35:51 | |
'I still have faith in this place, though, it just needs right buyer | 0:35:54 | 0:35:58 | |
'with a clear idea of what they want to do with it. | 0:35:58 | 0:36:00 | |
'Bearing in mind the relatively modest guide price of £18,000 for the chapel, | 0:36:00 | 0:36:05 | |
'we invited a local estate agent to give us his thoughts.' | 0:36:05 | 0:36:08 | |
First impressions is it's a very nice Baptist Chapel. | 0:36:11 | 0:36:15 | |
It obviously has suffered some problems with damp penetration | 0:36:15 | 0:36:19 | |
and wood rot. | 0:36:19 | 0:36:20 | |
It's a very nice substantial building, recently been reroofed. | 0:36:20 | 0:36:24 | |
The potential uses for this building is going to be very difficult | 0:36:24 | 0:36:28 | |
to assume, particularly because of the busy road | 0:36:28 | 0:36:30 | |
and the yellow lines and the restricted parking in the area. | 0:36:30 | 0:36:34 | |
It's really going to affect its value, depending on what use the planners will agree. | 0:36:34 | 0:36:39 | |
'How much could this place achieve on the resale market?' | 0:36:40 | 0:36:44 | |
Assuming this building was renovated | 0:36:46 | 0:36:47 | |
and was continued to be used for its existing planning use, | 0:36:47 | 0:36:51 | |
I would expect it to achieve a value in the region of £60,000. | 0:36:51 | 0:36:55 | |
'What if you decided to start a business from here?' | 0:36:55 | 0:36:59 | |
If you were able to establish a good, profitable business here, | 0:36:59 | 0:37:03 | |
I think that would add more to the value of this building than anything. | 0:37:03 | 0:37:06 | |
At the end of the day, you will be able to sell that business | 0:37:06 | 0:37:09 | |
and achieve a price of two or three times the net profit from the business. | 0:37:09 | 0:37:15 | |
On the face of it, a lot of property for the money | 0:37:16 | 0:37:18 | |
and an interesting opportunity but the more you look into it, | 0:37:18 | 0:37:21 | |
the more you realise the limitations of this place are considerable. | 0:37:21 | 0:37:25 | |
Still, maybe somebody got divine intervention | 0:37:25 | 0:37:27 | |
when it went under the hammer. | 0:37:27 | 0:37:29 | |
Here's a property that has attracted a lot of interest, | 0:37:32 | 0:37:35 | |
ladies and gentlemen. | 0:37:35 | 0:37:37 | |
What am I going to be bid for this lot number ten in your catalogue? | 0:37:37 | 0:37:41 | |
Who's got 25,000 to start me? It would be cheap at that. | 0:37:41 | 0:37:45 | |
23, then, let's get on. | 0:37:45 | 0:37:46 | |
Who's got 20? It's worth a lot more than that | 0:37:46 | 0:37:49 | |
and we've had a lot of interest in it. | 0:37:49 | 0:37:52 | |
20, thank you. At 20,000, I'm bid. | 0:37:52 | 0:37:54 | |
At 20, I'll take a half, if it helps. Half, thank you, madam. At 21,000. | 0:37:54 | 0:37:59 | |
I'll take another half. 21,500. Fill it up two, now? | 0:37:59 | 0:38:02 | |
At 21,500, I thought there would have been hands everywhere at that. | 0:38:02 | 0:38:06 | |
At £21,500... | 0:38:06 | 0:38:09 | |
Two in the back. At 22, fresh bidder. | 0:38:09 | 0:38:12 | |
At £22,000, standing in the back. | 0:38:12 | 0:38:15 | |
I'm going to sell it, make it a half. | 0:38:15 | 0:38:17 | |
22,500, thank you. | 0:38:17 | 0:38:18 | |
Three, can I ask three? 23. You're out, sir. Half, can I again? | 0:38:18 | 0:38:24 | |
Half, this is a hard way to do it in halves, isn't it? | 0:38:24 | 0:38:26 | |
Fill it up 30, for me, sir. 30, thank you, that's more like it. | 0:38:26 | 0:38:29 | |
Let's go in ones now. | 0:38:29 | 0:38:31 | |
31, thank you, sir. That's better at 31,000. | 0:38:31 | 0:38:35 | |
Two, will you, sir? 32. | 0:38:35 | 0:38:37 | |
At 32, three if you like. | 0:38:37 | 0:38:39 | |
33, and again. | 0:38:39 | 0:38:40 | |
For four, can I, sir? | 0:38:40 | 0:38:42 | |
At four, 34, I'm bid. | 0:38:42 | 0:38:45 | |
At 34, please be quicker, sir. Five, 35. | 0:38:45 | 0:38:48 | |
Six, will you, sir? | 0:38:48 | 0:38:49 | |
You bid quickly all the way. Oh, you're not going to stop? | 0:38:49 | 0:38:52 | |
Don't be driven out, it's only money! | 0:38:52 | 0:38:54 | |
At £35,000, here is my bid and you're out in the back, sir. | 0:38:54 | 0:38:59 | |
At £35,000... | 0:38:59 | 0:39:01 | |
It's yours, sir, thank you. | 0:39:01 | 0:39:03 | |
'That successful bid of £35,000 was made by husband and wife team, Kerry and Russell. | 0:39:03 | 0:39:09 | |
'Kerry's a retired mortgage adviser | 0:39:09 | 0:39:12 | |
'and Russell runs his own electrical wholesale company. | 0:39:12 | 0:39:15 | |
'What in heaven's name have they got planned for this old chapel? | 0:39:15 | 0:39:18 | |
'I met up with them to find out.' | 0:39:18 | 0:39:21 | |
-Kerry, Russ, lovely to meet you both. -And you. | 0:39:23 | 0:39:27 | |
Congratulations! You looked like you weren't too sure about that. | 0:39:27 | 0:39:30 | |
-I'm still thinking about it. -You're still thinking about it. Why did you buy it? | 0:39:30 | 0:39:34 | |
We bought it to set up a recording studio for our son. | 0:39:34 | 0:39:38 | |
-There's another room behind this chapel. -A recording studio? | 0:39:38 | 0:39:41 | |
Why buy the whole of this place just to get that bit at the back? | 0:39:41 | 0:39:44 | |
18 inch thick walls were one of the reasons. | 0:39:44 | 0:39:47 | |
Ah... | 0:39:47 | 0:39:49 | |
This just happened to be a bonus that came with the rear part of the building. | 0:39:49 | 0:39:52 | |
Now we've got to find something to do with it. | 0:39:52 | 0:39:56 | |
'It turns out that Russell and Kerry have come up | 0:39:56 | 0:39:59 | |
'with an interesting idea for the chapel, very much in keeping with its heritage.' | 0:39:59 | 0:40:04 | |
We decided to do civil weddings, | 0:40:06 | 0:40:09 | |
civil wedding ceremonies. | 0:40:09 | 0:40:11 | |
Right. | 0:40:11 | 0:40:13 | |
It wasn't necessarily what I was expecting you to say, I have to say. | 0:40:13 | 0:40:16 | |
What's your experience, Kerry, of building recording studios | 0:40:16 | 0:40:19 | |
and running places that you're going to hold civil ceremonies in? | 0:40:19 | 0:40:22 | |
A vast experience(!) | 0:40:22 | 0:40:24 | |
Absolutely none whatsoever. | 0:40:24 | 0:40:26 | |
# Going to the chapel and we're... # | 0:40:26 | 0:40:29 | |
Kerry and Russell have faith that their son will have success | 0:40:29 | 0:40:32 | |
with the recording studio, | 0:40:32 | 0:40:35 | |
but they also believe their own idea of holding | 0:40:35 | 0:40:38 | |
several wedding ceremonies will be a winner | 0:40:38 | 0:40:40 | |
as they will have a slight twist. | 0:40:40 | 0:40:42 | |
# ..Going to the chapel of love... # | 0:40:42 | 0:40:46 | |
We did plan to do themed weddings. | 0:40:46 | 0:40:49 | |
Themed weddings? | 0:40:49 | 0:40:50 | |
Well, if someone wants a Halloween wedding | 0:40:50 | 0:40:54 | |
or a Disney wedding, whatever. | 0:40:54 | 0:40:56 | |
-Any sort of wedding. -We can accommodate them. | 0:40:56 | 0:40:58 | |
# ..Bells will ring | 0:40:58 | 0:41:02 | |
# The sun will shine... # | 0:41:02 | 0:41:04 | |
Themed weddings? | 0:41:04 | 0:41:05 | |
That's a first here on Homes Under The Hammer. It's a novel idea, | 0:41:05 | 0:41:08 | |
but getting the necessary planning permissions could be a challenge. | 0:41:08 | 0:41:12 | |
The lack of parking is not ideal and could hinder things, | 0:41:12 | 0:41:16 | |
as could another trickling problem. | 0:41:16 | 0:41:18 | |
# ..The end of time | 0:41:18 | 0:41:20 | |
# And we'll never be lonely any more. # | 0:41:20 | 0:41:25 | |
We found out after we bought it that there's a small stream | 0:41:27 | 0:41:30 | |
running underneath the floorboards. | 0:41:30 | 0:41:32 | |
We came over with the builder to get an estimate... | 0:41:32 | 0:41:36 | |
..for the dry rot. | 0:41:36 | 0:41:37 | |
The builder said that it's not dry rot. | 0:41:37 | 0:41:41 | |
He suggested replacing all the floor with concrete. | 0:41:41 | 0:41:45 | |
He said, "Oh, the stream can be diverted." | 0:41:45 | 0:41:48 | |
I said, "That sounds expensive." | 0:41:48 | 0:41:50 | |
"No." he said. "A few pipes and a bit of gravel." | 0:41:50 | 0:41:53 | |
I'm bowing to his superior knowledge. | 0:41:55 | 0:41:57 | |
# Islands in the stream | 0:41:57 | 0:41:59 | |
# That is what we are | 0:41:59 | 0:42:02 | |
# No-one in-between... # | 0:42:02 | 0:42:04 | |
With a timescale of six months, it should be full STREAM ahead | 0:42:04 | 0:42:09 | |
for Russell and Kerry, | 0:42:09 | 0:42:10 | |
but what sort of budget have they set aside to do the work. | 0:42:10 | 0:42:13 | |
Because of the area we're in, it's a deprived area, | 0:42:13 | 0:42:16 | |
it's called a European Objective One area, | 0:42:16 | 0:42:18 | |
there, hopefully, should be grants available | 0:42:18 | 0:42:21 | |
to help us with retaining the building. | 0:42:21 | 0:42:24 | |
A lot of it depends how long the grants will take. | 0:42:25 | 0:42:27 | |
We are hoping, against hope, | 0:42:27 | 0:42:30 | |
that we'll have a contribution of around 30,000 | 0:42:30 | 0:42:33 | |
towards the total spend, which is around 80,000. | 0:42:33 | 0:42:36 | |
You're doing all this, primarily, for your son, it started out. | 0:42:36 | 0:42:39 | |
-Yeah. -Aren't you a wonderful mum and dad? | 0:42:39 | 0:42:41 | |
Tell me all about him, he has a band, does he? | 0:42:41 | 0:42:43 | |
Yes, he's got a band. | 0:42:43 | 0:42:45 | |
-It's very noisy. -It's heavy. | 0:42:45 | 0:42:48 | |
What kind of music is it? | 0:42:48 | 0:42:51 | |
What would you call it? Death Metal? | 0:42:51 | 0:42:54 | |
DEATH METAL MUSIC | 0:42:54 | 0:42:57 | |
He's 27 years old, hasn't got the greatest employment history. | 0:42:58 | 0:43:04 | |
It's a chance for him to follow his dream. | 0:43:04 | 0:43:07 | |
As long as it doesn't cost us too much. | 0:43:07 | 0:43:09 | |
It seems to me, you're having an adventure at the same time? | 0:43:09 | 0:43:13 | |
Absolutely. I'm really excited about it. | 0:43:13 | 0:43:16 | |
What's next on the cards for you two? | 0:43:16 | 0:43:18 | |
A chain of wedding arenas, maybe. | 0:43:18 | 0:43:23 | |
-Or maybe not. -Maybe not. | 0:43:23 | 0:43:25 | |
-Listen, congratulations. -Thank you. | 0:43:25 | 0:43:28 | |
Lovely to meet you both. | 0:43:28 | 0:43:30 | |
Isn't this story just one of the reasons | 0:43:33 | 0:43:35 | |
why Homes Under the Hammer is so brilliant? | 0:43:35 | 0:43:39 | |
A chapel in Wales is now going to become a recording studio | 0:43:39 | 0:43:42 | |
for a death metal band and a funky wedding chapel. | 0:43:42 | 0:43:47 | |
There are so many hurdles to cross before we get to that point, where do I start? | 0:43:47 | 0:43:51 | |
You just have to join us later in the show | 0:43:51 | 0:43:53 | |
to find out how they get on. | 0:43:53 | 0:43:56 | |
Well, finding good tradesmen is often the key to getting a project | 0:43:59 | 0:44:02 | |
completed on time and on budget. | 0:44:02 | 0:44:05 | |
Some people do decide to do the work themselves to maximise profit. | 0:44:05 | 0:44:09 | |
Have our buyers been getting stuck in or just getting stuck? | 0:44:09 | 0:44:13 | |
Let's find out. | 0:44:13 | 0:44:14 | |
Back now to Burnley in Lancashire where this two-bed mid-terrace | 0:44:16 | 0:44:19 | |
was bought at auction unseen | 0:44:19 | 0:44:20 | |
by Leeds-based property developer Patrick, in the red jumper here on the right, | 0:44:20 | 0:44:26 | |
and his joiner friend, Paul. | 0:44:26 | 0:44:28 | |
The place has been turned upside down by thieves | 0:44:28 | 0:44:31 | |
looking for valuable York stone flooring and copper pipes. | 0:44:31 | 0:44:35 | |
-But this is not what you expect to see. -Not at all. | 0:44:36 | 0:44:40 | |
You guys have got a lot of work putting this back together again. | 0:44:40 | 0:44:43 | |
-That's right. -Without a doubt. I think if we'd looked, | 0:44:43 | 0:44:46 | |
definitely would have probably left it. | 0:44:46 | 0:44:48 | |
But with a relatively modest budget and a timescale of just one month, | 0:44:48 | 0:44:52 | |
these Yorkshire lads were determined to do their best. | 0:44:52 | 0:44:56 | |
So a mere four weeks after our visit, we're back to see | 0:44:56 | 0:44:59 | |
if they managed to rekindle the embers of this Burnley property. | 0:44:59 | 0:45:03 | |
# Come on, baby, light my fire | 0:45:05 | 0:45:10 | |
# Come on, baby, light my fire | 0:45:10 | 0:45:15 | |
# Try to set the night on fire. # | 0:45:15 | 0:45:20 | |
Well, the job's a good 'un. | 0:45:21 | 0:45:23 | |
There may be some work left to do but Patrick and Paul | 0:45:23 | 0:45:26 | |
have definitely got this property back on its feet. | 0:45:26 | 0:45:30 | |
The biggest task was undoubtedly sorting out the floor that was no more. | 0:45:30 | 0:45:34 | |
We just had to excavate down a little deeper | 0:45:34 | 0:45:38 | |
and put in a damp-proof membrane and obviously batter tons and tons of concrete in, | 0:45:38 | 0:45:44 | |
which was quite an arduous job through the narrow passageway in the kitchen. | 0:45:44 | 0:45:49 | |
They've tidied up the back yard and introduced some pretty hefty | 0:45:49 | 0:45:53 | |
security measures to deter any more would-be vandals. | 0:45:53 | 0:45:58 | |
Upstairs, the biggest job was sorting out the bathroom | 0:45:58 | 0:46:01 | |
after thieves had made a mess stealing the copper pipes. | 0:46:01 | 0:46:05 | |
Well, the bathroom, there was a lot of work in the bathroom. | 0:46:07 | 0:46:10 | |
Obviously, the copper pipes had been stolen | 0:46:10 | 0:46:12 | |
but they'd ripped the copper pipes from the boiler, | 0:46:12 | 0:46:14 | |
ripped all the piping from the bathroom and the sink | 0:46:14 | 0:46:18 | |
so the problem was finding out where the copper had been broken. | 0:46:18 | 0:46:21 | |
We even thought about just replacing all the pipework | 0:46:21 | 0:46:24 | |
but we managed to pick the microbore pipe up from the radiators | 0:46:24 | 0:46:27 | |
where it teed into the 15ml pipe. | 0:46:27 | 0:46:29 | |
Then we had to replace all the floor | 0:46:29 | 0:46:31 | |
because the floor had been ripped out as well. | 0:46:31 | 0:46:34 | |
The toilet had been damaged so we put a new toilet in. | 0:46:34 | 0:46:36 | |
Obviously, it worked out quite well. | 0:46:36 | 0:46:39 | |
In fact, it's all worked out so well | 0:46:41 | 0:46:43 | |
that Patrick and Paul have already found a tenant, | 0:46:43 | 0:46:46 | |
even before they got round to decorating the place. | 0:46:46 | 0:46:49 | |
We had a decorator lined up but the tenant was so desperate to move in | 0:46:49 | 0:46:53 | |
she said, "Do you mind if I do the decoration?" | 0:46:53 | 0:46:56 | |
Obviously, we didn't have any problem with that | 0:46:56 | 0:46:58 | |
and we said, "You can move," and she wanted to move in today. | 0:46:58 | 0:47:01 | |
After the filming, she's waiting to get the keys. | 0:47:01 | 0:47:03 | |
She's got some cash waiting, she said, | 0:47:03 | 0:47:06 | |
so hopefully we can get some lunch today. | 0:47:06 | 0:47:08 | |
THEY LAUGH | 0:47:08 | 0:47:10 | |
But before they tuck into their Lancashire hotpots, | 0:47:12 | 0:47:15 | |
what's the story with their budget? | 0:47:15 | 0:47:18 | |
The Budget was 5,000 total. | 0:47:18 | 0:47:20 | |
We came in under budget - 3,600 we spent. | 0:47:20 | 0:47:25 | |
Looking round, it's very hard to see it, but a lot of the work | 0:47:25 | 0:47:28 | |
was flooring, plumbing, security, windows and carpets. | 0:47:28 | 0:47:34 | |
-We didn't do bad there, did we? -No, no. | 0:47:34 | 0:47:36 | |
3,600 on top of their purchase price of 20,500 | 0:47:38 | 0:47:43 | |
makes a total outlay of £24,100. | 0:47:43 | 0:47:47 | |
Have the boys learned anything from the process of doing this property up? | 0:47:47 | 0:47:52 | |
I've learned a valuable lesson on this job. | 0:47:52 | 0:47:54 | |
That is, never ever buy anything unseen. | 0:47:54 | 0:48:00 | |
That's the biggest mistake I've ever made. | 0:48:00 | 0:48:03 | |
In my opinion. | 0:48:06 | 0:48:07 | |
But just how big a mistake was it? | 0:48:09 | 0:48:11 | |
We asked two local estate agents to look around the mid-terrace | 0:48:11 | 0:48:14 | |
and give us their thoughts. | 0:48:14 | 0:48:16 | |
It's one of those properties that's quite obviously been done up | 0:48:17 | 0:48:21 | |
to rent out, in all honesty. | 0:48:21 | 0:48:23 | |
There are still things that the tenant coming in is going | 0:48:23 | 0:48:26 | |
to want to do to the property in terms of the cosmetics, | 0:48:26 | 0:48:28 | |
in terms of decorating, which I believe they are going to be taking on. | 0:48:28 | 0:48:31 | |
I think if it had been me, | 0:48:31 | 0:48:33 | |
I probably would have gone all the way and finished all the work. | 0:48:33 | 0:48:35 | |
I may have looked at changing the bathroom suite | 0:48:35 | 0:48:38 | |
and making that look a little bit better. | 0:48:38 | 0:48:39 | |
Making the kitchen as nice as possible because it is quite small, | 0:48:39 | 0:48:42 | |
and certainly I would have finished all the decoration works. | 0:48:42 | 0:48:46 | |
If they wanted to sell the property on, | 0:48:46 | 0:48:48 | |
what do the experts think it could fetch on the resale market? | 0:48:48 | 0:48:51 | |
For what work has been done, | 0:48:52 | 0:48:55 | |
I would say this property's around £25,000. | 0:48:55 | 0:48:57 | |
In the current sort of sales climate, you'd be looking | 0:48:57 | 0:49:00 | |
somewhere in the region of 35 to £40,000, I would think. | 0:49:00 | 0:49:03 | |
I think that's more realistic. | 0:49:03 | 0:49:06 | |
We don't want to think that we've wasted our time. | 0:49:06 | 0:49:09 | |
I think 35, if that's a conservative estimate, then that would be good. | 0:49:09 | 0:49:14 | |
25 just seems a little bit too low | 0:49:14 | 0:49:16 | |
with the sort of returns that we're getting on that. | 0:49:16 | 0:49:18 | |
-But yeah, 35. We're happy with 35. -We're sound, yeah. | 0:49:18 | 0:49:23 | |
A sale at the top end of those valuations, around 40,000, | 0:49:23 | 0:49:28 | |
could mean a profit of almost 16 grand before fees and expenses. | 0:49:28 | 0:49:33 | |
But with a tenant already lined up, Patrick and Paul will surely | 0:49:33 | 0:49:36 | |
be more interested in the possible rental valuations. | 0:49:36 | 0:49:40 | |
In the current rental market, I think you'd be looking | 0:49:40 | 0:49:42 | |
somewhere in the region of £300 per calendar month. | 0:49:42 | 0:49:44 | |
I would say the rental figure's going to stay around the £300 per calendar month mark. | 0:49:44 | 0:49:49 | |
-That's on the nail that, yeah. -325 actually. 75 a week. | 0:49:49 | 0:49:53 | |
Which is what we've got but that's, yeah, that's what it is. | 0:49:53 | 0:49:57 | |
We've got 325 which is as I say, 16% return. We're happy with that. | 0:49:57 | 0:50:02 | |
This one meant a lot of to-ing and fro-ing from Leeds to Burnley | 0:50:02 | 0:50:08 | |
for Patrick and Paul, will they be back at an auction any time soon? | 0:50:08 | 0:50:12 | |
I would definitely do the auction again, without a doubt. | 0:50:12 | 0:50:16 | |
I think what we'd do is rather than go out of the area, | 0:50:16 | 0:50:20 | |
then obviously, we'd make sure that we bought within our boundaries | 0:50:20 | 0:50:23 | |
and don't go any further, because there's plenty of properties there. | 0:50:23 | 0:50:26 | |
Back now to South Wales | 0:50:32 | 0:50:34 | |
and the village of Abercynon where husband and wife, Kerry and Russell, | 0:50:34 | 0:50:38 | |
bought this former chapel at auction for £35,000. | 0:50:38 | 0:50:42 | |
It was in a decent state of repair although I was struggling to think | 0:50:42 | 0:50:45 | |
of what it could be used for. | 0:50:45 | 0:50:47 | |
However, the couple's plan was to turn the back room | 0:50:47 | 0:50:51 | |
into a recording studio for their son and his death metal band, | 0:50:51 | 0:50:55 | |
and as for the chapel, they hope | 0:50:55 | 0:50:57 | |
to perform civil wedding ceremonies there, with a slight twist. | 0:50:57 | 0:51:01 | |
-We do plan to do themed weddings. -Themed weddings? | 0:51:01 | 0:51:04 | |
Well, if someone wants a Halloween wedding or a Disney wedding, whatever. | 0:51:04 | 0:51:10 | |
We can accommodate that. | 0:51:10 | 0:51:12 | |
Soon after Kerry and Russell bought this place, | 0:51:12 | 0:51:14 | |
they discovered a small stream running underneath the floorboards, causing damp. | 0:51:14 | 0:51:20 | |
But their builder had a quick solution to sort that out. | 0:51:20 | 0:51:23 | |
He said, "The stream can be diverted." | 0:51:25 | 0:51:27 | |
I said, "That sounds expensive." | 0:51:27 | 0:51:29 | |
"No," he said. "A few pipes and a bit of gravel." | 0:51:29 | 0:51:32 | |
So I'm bowing to his superior knowledge. | 0:51:34 | 0:51:36 | |
A year and a half later, we've returned to meet Kerry | 0:51:36 | 0:51:40 | |
to see if her and Russell's plan to conduct civil weddings | 0:51:40 | 0:51:43 | |
has lived happily ever or if it's all ended in a messy divorce. | 0:51:43 | 0:51:49 | |
Well, sadly, no wedding ceremonies have taken place. | 0:51:55 | 0:51:59 | |
There is no recording studio either | 0:51:59 | 0:52:01 | |
due to concerns from the planning department about the potential noise. | 0:52:01 | 0:52:05 | |
The hole in the floorboards has been covered up | 0:52:07 | 0:52:10 | |
but the small stream underneath is still flowing freely. | 0:52:10 | 0:52:13 | |
That's the only real evidence of any change, so why the lack of progress? | 0:52:13 | 0:52:17 | |
Well, the plans that we had for the church have virtually come to nothing. | 0:52:19 | 0:52:26 | |
We had the plans for the recording studio at the back | 0:52:26 | 0:52:30 | |
and initially, we were going to conduct civil weddings at the front. | 0:52:30 | 0:52:35 | |
Having spoken to the local authority informally, | 0:52:35 | 0:52:40 | |
they didn't like the idea of the wedding reception. | 0:52:40 | 0:52:43 | |
They were afraid of the noise, late nights maybe for the local community. | 0:52:43 | 0:52:50 | |
We rethought the idea | 0:52:50 | 0:52:53 | |
and we thought maybe we would use the downstairs as a training facility. | 0:52:53 | 0:52:58 | |
It went before the planning committee with a recommendation for approval. | 0:52:58 | 0:53:03 | |
The planning committee turned it down. | 0:53:03 | 0:53:05 | |
Unfortunately, all our plans have come to nothing. | 0:53:05 | 0:53:09 | |
There was planning permission in place to run the chapel | 0:53:10 | 0:53:14 | |
as a children's creche, but that didn't appeal to Kerry and Russell. | 0:53:14 | 0:53:18 | |
What about the possibility of demolishing it and redeveloping the site? | 0:53:18 | 0:53:22 | |
It would make a beautiful house | 0:53:23 | 0:53:25 | |
but it would be a real shame to get rid of the pews and... | 0:53:25 | 0:53:29 | |
The things we loved about it were the original charm. | 0:53:29 | 0:53:32 | |
We really didn't want to change anything. | 0:53:32 | 0:53:35 | |
We wanted to maintain the building as it is. | 0:53:35 | 0:53:38 | |
So things really haven't gone to plan. | 0:53:38 | 0:53:41 | |
How much money have they spent on the chapel to date? | 0:53:41 | 0:53:45 | |
We've spent about £5,000 on acoustic reports | 0:53:45 | 0:53:49 | |
that the local authority insisted on us having. | 0:53:49 | 0:53:52 | |
Really, it's been a complete waste of money for us. | 0:53:52 | 0:53:58 | |
It's a real shame that it's taken 12 months | 0:54:01 | 0:54:04 | |
for the planning permission to be refused, | 0:54:04 | 0:54:07 | |
but that is often the way. What's next for the couple? | 0:54:07 | 0:54:11 | |
Well, the next plan, I think, is to sell it. We thought long and hard. | 0:54:13 | 0:54:18 | |
Really, if we can't do what we want here then maybe the best thing | 0:54:18 | 0:54:22 | |
is to sell it and for someone who can do what they'd be allowed to do here, | 0:54:22 | 0:54:29 | |
for someone else to take it on. | 0:54:29 | 0:54:31 | |
That really is a sad story and potentially an expensive lesson. | 0:54:35 | 0:54:39 | |
With a purchase price of 35,000 | 0:54:39 | 0:54:42 | |
and costs of five grand on planning reports, | 0:54:42 | 0:54:45 | |
that's a total outlay of 40,000. | 0:54:45 | 0:54:48 | |
We invited along two local estate agents | 0:54:50 | 0:54:53 | |
to hear their thoughts on this chapel. | 0:54:53 | 0:54:55 | |
I'm not surprised in any way about planning issues. | 0:54:58 | 0:55:02 | |
I've had a look at the outside of the building | 0:55:02 | 0:55:04 | |
and around at the rear of the building. | 0:55:04 | 0:55:06 | |
There's absolutely nowhere for people to park | 0:55:06 | 0:55:08 | |
and that would be one of the major issues in this local area. | 0:55:08 | 0:55:12 | |
In my opinion, on this building, | 0:55:12 | 0:55:13 | |
I don't think there is any business venture to be had here. | 0:55:13 | 0:55:16 | |
The only thing that I would suggest would be | 0:55:16 | 0:55:19 | |
to possibly demolish the building and use the plot for further redevelopment. | 0:55:19 | 0:55:25 | |
What about the option of using this place as a children's creche? | 0:55:26 | 0:55:29 | |
It could be used as a creche. | 0:55:33 | 0:55:35 | |
I think that there's obviously a need for one around here. | 0:55:35 | 0:55:39 | |
I think it would be lovely done as a nursery. | 0:55:39 | 0:55:42 | |
So, for a new buyer, a nursery might be the best way to go. | 0:55:42 | 0:55:46 | |
Let's talk about money. What could Kerry and Russell make | 0:55:46 | 0:55:49 | |
if they put this place back to auction as it is? | 0:55:49 | 0:55:53 | |
If they were to put it back into auction or to resell, | 0:55:53 | 0:55:56 | |
I would look at £35,000 to £40,000. | 0:55:56 | 0:56:01 | |
I think that they would be lucky to get their money back | 0:56:01 | 0:56:03 | |
but as a guide price, between 40 and £50,000. | 0:56:03 | 0:56:08 | |
Yeah. I think they're fair. | 0:56:08 | 0:56:09 | |
I think that's what we would have expected | 0:56:09 | 0:56:12 | |
and I think we'd be happy with that. | 0:56:12 | 0:56:14 | |
So if they managed to achieve around £40,000 | 0:56:14 | 0:56:17 | |
then Kerry and Russell might just break even. | 0:56:17 | 0:56:21 | |
It really has been a long and frustrating process | 0:56:21 | 0:56:24 | |
and it's a shame that their plans haven't worked out. | 0:56:24 | 0:56:28 | |
Has this experience put them off the prospect of heading to the auctions again? | 0:56:28 | 0:56:31 | |
It certainly wouldn't put me off buying at auction again. | 0:56:32 | 0:56:36 | |
We were just unlucky that our plans didn't work out in this case. | 0:56:36 | 0:56:40 | |
Make sure you join us next time for more auction properties going under the hammer. | 0:56:43 | 0:56:47 | |
-See you then. -Goodbye. -Goodbye. | 0:56:47 | 0:56:49 | |
Subtitles by Red Bee Media Ltd | 0:56:57 | 0:56:59 |