0:00:02 > 0:00:03Welcome to the show.
0:00:03 > 0:00:05All sorts of people go to the auctions these days.
0:00:05 > 0:00:07They attract buyers from all walks of life.
0:00:07 > 0:00:10And that's because if you know where to look,
0:00:10 > 0:00:13there are certainly bargains to be had under the hammer!
0:00:37 > 0:00:42There's a wide variety of buyers and a big range of property on show at an auction.
0:00:42 > 0:00:45Sometimes it's a race to get the best bargains.
0:00:45 > 0:00:47But you have to be in it to win it.
0:00:47 > 0:00:50So, what attracted the buyers on today's show?
0:00:52 > 0:00:56First of all, in Durham. Now, I've seen some odd things at properties over the years...
0:00:56 > 0:01:00but this one is way up there with the oddest!
0:01:01 > 0:01:04I find real potential at this Fulham flat in London.
0:01:04 > 0:01:08Any central London property developer will be thinking of ways
0:01:08 > 0:01:10how to extend over that.
0:01:11 > 0:01:17And will this cottage in Cornwall capture someone's heart?
0:01:17 > 0:01:21It's just one of those properties straightaway. Someone will definitely fall in love with this.
0:01:23 > 0:01:25All these properties have been sold at auctions
0:01:25 > 0:01:28and we'll find out who bought them and what they paid for them
0:01:28 > 0:01:30when they went under the hammer.
0:01:30 > 0:01:31Sold!
0:01:33 > 0:01:38Today I'm in Newton Hall, a suburb just a couple of miles from Durham city centre
0:01:38 > 0:01:41with all the amenities you're ever likely to need.
0:01:41 > 0:01:46The house I'm here to see is on one of the biggest estates in the area.
0:01:46 > 0:01:51Well, in the 1960s, this area started to sprout housing
0:01:51 > 0:01:54and sprout and sprout and sprout and sprout
0:01:54 > 0:01:59and soon it was one of the largest housing estates in the whole of Europe.
0:01:59 > 0:02:03The property I'm here to see was built around that 1960s period.
0:02:03 > 0:02:06It's a three-bed semi. Let's take a look.
0:02:06 > 0:02:10Although the guide price for this property was £100,000 plus,
0:02:10 > 0:02:14it was dropped to just under £85,000 just before the auction.
0:02:14 > 0:02:17I always think it's wise to expect the unexpected.
0:02:17 > 0:02:22Sometimes a property you've had your eye on can be withdrawn or sold prior
0:02:22 > 0:02:26or, as in this case, its guide price greatly reduced.
0:02:26 > 0:02:30So I always recommend checking things out before you go to the auction.
0:02:30 > 0:02:36So, has the property been improved in the years since it's been built?
0:02:36 > 0:02:37Let's find out.
0:02:37 > 0:02:41Through the front door. Nice entrance area here. Stairs up to your bedrooms.
0:02:41 > 0:02:47Kitchen facing you and then into your front living area here.
0:02:47 > 0:02:50It's a very simplistic layout
0:02:50 > 0:02:51and it flows well. I really like it.
0:02:51 > 0:02:54You come through into this room which is double aspect.
0:02:54 > 0:02:58So large windows at the front, some more windows out into the back
0:02:58 > 0:03:02which I'd like to see opened up into maybe some double doors out into the garden.
0:03:02 > 0:03:05But a really nice-sized space.
0:03:05 > 0:03:09It feels really open-plan and I love it for that.
0:03:09 > 0:03:10Into the kitchen.
0:03:10 > 0:03:16Again, very dated. The cooker there and the units, and that!
0:03:16 > 0:03:20An air-blower central heating system.
0:03:20 > 0:03:23That was the kind of thing that was in my house when I was growing up.
0:03:23 > 0:03:26A very comforting kind of rumbling noise at night,
0:03:26 > 0:03:27but not terribly efficient.
0:03:27 > 0:03:31But a good sized kitchen, nicely leads out onto the garden.
0:03:31 > 0:03:35Rear end of the garage there to give you extra space.
0:03:35 > 0:03:38Nothing particularly that I'm seeing that worries me.
0:03:38 > 0:03:42And it's just a nice... A nice house!
0:03:42 > 0:03:45This place has a '60s retro feel
0:03:45 > 0:03:47but it really needs to be brought up to date.
0:03:47 > 0:03:50That old sofa really needs to go!
0:03:54 > 0:03:56Upstairs there are three bedrooms.
0:03:56 > 0:04:00A double at the back, plus a small single
0:04:00 > 0:04:02and another double at the front.
0:04:02 > 0:04:05Someone with a taste for kitsch would love it here!
0:04:05 > 0:04:08There's another reminder of the past here as well.
0:04:08 > 0:04:10A separate toilet and bathroom.
0:04:10 > 0:04:15These days, I expect most people would prefer a larger, family-sized bathroom,
0:04:15 > 0:04:18so that wall between the two needs to go.
0:04:18 > 0:04:21And there's scope for a bit more structural work outside.
0:04:21 > 0:04:25So it's all fairly straightforward inside. New kitchen, new bathroom,
0:04:25 > 0:04:28redecorate, change the central heating et cetera.
0:04:28 > 0:04:30There are some other options when you come out here.
0:04:30 > 0:04:37It's really nice to see a traditional built-in garage, which is good.
0:04:37 > 0:04:43Now, above, as you can see, there is space to do something.
0:04:43 > 0:04:45A traditional thing to do here
0:04:45 > 0:04:48would be to build some kind of extension if you needed it.
0:04:48 > 0:04:52If you're not looking to move, a good way of expanding the size of the property.
0:04:52 > 0:04:55There are lots of rules and regulations about building above garages.
0:04:55 > 0:04:59You could even consider ditching the garage altogether
0:04:59 > 0:05:01and creating a two-storey extension.
0:05:01 > 0:05:03You'll have to get building regulations approval.
0:05:03 > 0:05:06As it's above the garage, you'll need planning permission.
0:05:06 > 0:05:10But I think you wouldn't have too many issues
0:05:10 > 0:05:13given there's no windows in the adjoining properties.
0:05:13 > 0:05:17It could give you that extra space. It comes down to who bought it and why they bought it.
0:05:17 > 0:05:20If it's somewhere to live, that extra space might be really important.
0:05:20 > 0:05:22If it's something to rent out or sell on,
0:05:22 > 0:05:26the finances might not quite stack up.
0:05:26 > 0:05:30Round the back, there's a good-sized little garden in which to soak up the sun
0:05:30 > 0:05:32or let the kids run around.
0:05:32 > 0:05:38There's certainly plenty of room for girls, but I think there are already plenty of "buoys"!
0:05:39 > 0:05:40Now, when I visit houses,
0:05:40 > 0:05:46I do see the oddest things that people leave behind.
0:05:46 > 0:05:50But this one is way up there with the oddest!
0:05:50 > 0:05:53In the back garden, a collection of fishing buoys.
0:05:54 > 0:05:56Cue a music link.
0:05:56 > 0:05:58Is it going to be Duran Duran, Wild Boys?
0:05:58 > 0:06:01Sabrina, Boys, Boys, Boys?
0:06:01 > 0:06:02Don Henley, Boys of Summer?
0:06:02 > 0:06:05No, it's got to be Thin Lizzy!
0:06:05 > 0:06:07# The boys are back in town
0:06:07 > 0:06:08# The boys are back in town... #
0:06:08 > 0:06:12Well, let's separate the boys from the men, here.
0:06:12 > 0:06:16What does our man from the local estate agency make of this number
0:06:16 > 0:06:18from the swinging '60s?
0:06:18 > 0:06:20# The boys are back in town,
0:06:20 > 0:06:22# The boys are back in town... #
0:06:24 > 0:06:28Some areas of the property haven't been improved since it was built in the 1960s.
0:06:28 > 0:06:32The kitchen appears to be original and would require replacing.
0:06:32 > 0:06:36I would recommend that the bathroom and toilet be knocked together,
0:06:36 > 0:06:39as well as French doors giving access from the patio to the dining room.
0:06:39 > 0:06:43A lot of people on the estate have extended to the right or left
0:06:43 > 0:06:45depending on the hand of the property over the garage.
0:06:45 > 0:06:50But in all likelihood, it wouldn't yield the best return in terms of values
0:06:50 > 0:06:52should you put the extension on the side.
0:06:52 > 0:06:56Without the extension but after full redecoration,
0:06:56 > 0:06:58how much could it be worth?
0:06:58 > 0:07:00There is a demand for rental property on Newton Hall.
0:07:00 > 0:07:03If it were placed on the open market for rent,
0:07:03 > 0:07:05I'd recommend an asking price of somewhere between
0:07:05 > 0:07:09about 575 and £600 per calendar month.
0:07:09 > 0:07:12And what if it were put back up for sale?
0:07:12 > 0:07:15Once renovated, I would suggest the property be placed on the market
0:07:15 > 0:07:19in the region of 145 to £150,000.
0:07:19 > 0:07:27Well, a property that needs bringing into, well, 2012, for sure.
0:07:27 > 0:07:30However, a great opportunity. I like the house, I like the space,
0:07:30 > 0:07:32I like the layout, I like the location.
0:07:32 > 0:07:36What's not to like? Let's see who agreed when it went under the hammer.
0:07:38 > 0:07:41Take my arm and say, anyone want to start me at 100?
0:07:42 > 0:07:44Right. How about 85?
0:07:44 > 0:07:46Bid of 85.
0:07:46 > 0:07:49Thank you very much(!)
0:07:49 > 0:07:5485 bid. 85 bid. We're up and going at £85,000.
0:07:54 > 0:07:56Do I have 86 anywhere else?
0:07:56 > 0:07:59I have one bid right in the middle at £85,000.
0:07:59 > 0:08:0286,000 bid. I see you at 86. 87?
0:08:02 > 0:08:0587 bid. 88?
0:08:05 > 0:08:0788 bid. 89?
0:08:07 > 0:08:0989 bid. 90?
0:08:09 > 0:08:11No? Shaking your head.
0:08:11 > 0:08:13I'm here at 89,000.
0:08:13 > 0:08:17Try again at 90. I want to sell on here at 89. I'll take one more.
0:08:17 > 0:08:18No?
0:08:18 > 0:08:2189,000. I have 90,000 anywhere else?
0:08:21 > 0:08:23I'm selling at 89,000 in the centre of the room.
0:08:23 > 0:08:25It's going once at 89.
0:08:25 > 0:08:28Going for the second time at 89,000.
0:08:28 > 0:08:31Sold to the gentleman in the middle.
0:08:31 > 0:08:35That final bid of £89,000 came from Richard,
0:08:35 > 0:08:37a chartered surveyor.
0:08:37 > 0:08:40But it was his wife Lynne who met me at the house.
0:08:40 > 0:08:42She is a full-time property developer
0:08:42 > 0:08:43and used to be an estate agent
0:08:43 > 0:08:47so she's certainly seen a few properties in her time.
0:08:57 > 0:08:59What are her plans for this one?
0:09:02 > 0:09:05- Lynne, great to meet you.- You, too, Martin. Thank you.
0:09:05 > 0:09:07Congratulations. Why did you buy it?
0:09:07 > 0:09:10To do it up and make a profit on it!
0:09:10 > 0:09:15- That's it?- Yeah. I started doing properties up with my husband when my children were small.
0:09:15 > 0:09:19I didn't want to go back to work and it was something we could incorporate round the children.
0:09:19 > 0:09:21And we've built up our portfolio.
0:09:21 > 0:09:25And now the children are in university
0:09:25 > 0:09:28and I've got two children to put through university
0:09:28 > 0:09:31so this is going to fund that for a year. Hopefully!
0:09:31 > 0:09:35With university fees in England and Wales on the rise,
0:09:35 > 0:09:37it's a very sensible plan indeed.
0:09:47 > 0:09:50- Tell me what you're going to do to sort it out.- Right.
0:09:50 > 0:09:52I'm going to do double glazing,
0:09:52 > 0:09:54new kitchen, new bathroom,
0:09:54 > 0:09:59knock the wall out in the bathroom to make it a big family bathroom,
0:09:59 > 0:10:02take out the air-ducted central heating,
0:10:02 > 0:10:05because that's quite a major job.
0:10:05 > 0:10:08Obviously replaster some of the walls,
0:10:08 > 0:10:13take out the door to the kitchen so we only have one door so I can utilise the space
0:10:13 > 0:10:15for more kitchen units.
0:10:15 > 0:10:20Utility room, put new flooring, new ceiling, plasterboard it out,
0:10:20 > 0:10:25bring it up to fire regulations because obviously it goes onto a garage.
0:10:25 > 0:10:28Decking out the back,
0:10:28 > 0:10:31garden, and just sort the garden out, really.
0:10:31 > 0:10:34- Right.- And rewire and central heating.
0:10:34 > 0:10:39Right. What about the idea of an extension over the garage?
0:10:39 > 0:10:42No. Financially it wouldn't be worth me doing that.
0:10:42 > 0:10:49But certainly the new people that buy the house it would be of benefit to them,
0:10:49 > 0:10:53because in Durham, properties are quite expensive to buy
0:10:53 > 0:10:57so it's quite nice to buy a property that you can extend yourself.
0:10:57 > 0:11:00It's an overwhelming "to do" list.
0:11:00 > 0:11:03However, given Lynne has 30 properties under her belt,
0:11:03 > 0:11:06and that her husband Richard is a chartered surveyor,
0:11:06 > 0:11:10there were no surprises as far as this house was concerned.
0:11:10 > 0:11:13And it seems unlikely there will be any.
0:11:14 > 0:11:16What's the kind of budget for what you're planning?
0:11:16 > 0:11:1826,500.
0:11:18 > 0:11:20- Approximately!- Approximately!
0:11:20 > 0:11:23- That's quite a lot.- Yeah, it is.
0:11:23 > 0:11:24You're going for a very high-end look?
0:11:24 > 0:11:26That's what I'm going for,
0:11:26 > 0:11:30because I want somebody to come to the house and be able to say, "I can move straight in."
0:11:30 > 0:11:36- Has experience taught you to go higher end cos you do get it back? - Yes.
0:11:36 > 0:11:38- Is that the case?- Yes.
0:11:38 > 0:11:40- Do people notice?- Yes, they do.
0:11:40 > 0:11:43They do tend to notice.
0:11:43 > 0:11:49Just, it's to me, I want to try and get the wow appeal.
0:11:49 > 0:11:52Obviously I have a budget that I've got to stick to with this property.
0:11:52 > 0:11:55I can't go too high. But I want them to walk in
0:11:55 > 0:12:01and just think, "Great. I just need to put my furniture in and it's a home."
0:12:01 > 0:12:05Lynne doesn't just develop property. She also has another job
0:12:05 > 0:12:08which meant she wasn't the one doing the bidding at the auction.
0:12:08 > 0:12:10So why weren't you at the auction?
0:12:10 > 0:12:12Because I, on an evening,
0:12:12 > 0:12:16the mad Lynne appears and I'm a zumba teacher.
0:12:16 > 0:12:22- A zumba teacher?!- Yes. While my husband is shaking and buying a property for me
0:12:22 > 0:12:25- I was shaking on stage in front of my zumba ladies!- Right!
0:12:25 > 0:12:28What is zumba, for somebody that doesn't know?
0:12:28 > 0:12:30- Zumba is just Latin dancing.- Right.
0:12:30 > 0:12:33Having a wiggle and a giggle.
0:12:33 > 0:12:35- Fantastic. Congratulations. - Thank you.
0:12:35 > 0:12:39- Good luck with it and I look forward to coming back and seeing how you got on.- Thank you.
0:12:40 > 0:12:44Well, Lynne certainly seems to know what she's doing.
0:12:44 > 0:12:47Will this be a quick step to success
0:12:47 > 0:12:49and will she be dancing away to a profit?
0:12:49 > 0:12:52You can find out later in the show!
0:12:55 > 0:12:59London is well known for being one of the greenest capitals in Europe
0:12:59 > 0:13:02with plenty of parks and public spaces.
0:13:02 > 0:13:03This is Eel Brook Common.
0:13:03 > 0:13:08In the late 1800s, the then amateur football team, Fulham,
0:13:08 > 0:13:11played some of their home games here
0:13:11 > 0:13:13before moving on to Craven Cottage.
0:13:13 > 0:13:17The property I'm here to see is literally a minute that way.
0:13:19 > 0:13:21On such a beautiful sunny day,
0:13:21 > 0:13:24you can see why Fulham is a very sought-after part of London
0:13:24 > 0:13:28and it's not just the parks that look wonderful in the sun.
0:13:34 > 0:13:37In the sunshine, these town houses look simply gorgeous.
0:13:37 > 0:13:42We're also just a five-minute walk from the nearest tube station
0:13:42 > 0:13:46and very close to lots of shops, restaurants and cafes.
0:13:46 > 0:13:48So, as London locations go,
0:13:48 > 0:13:50this really is spot-on.
0:13:50 > 0:13:52And therefore a little bit pricey.
0:13:52 > 0:13:57The average house price on this street is over 1.5 million quid!
0:13:57 > 0:14:00But we're here to see something a little cheaper.
0:14:00 > 0:14:02It's a ground floor one-bedroomed flat
0:14:02 > 0:14:06and it had a guide price of £300,000.
0:14:06 > 0:14:07I'm going in!
0:14:09 > 0:14:11So what exactly are you getting for your money?
0:14:11 > 0:14:14The outside appears to be well kept
0:14:14 > 0:14:16but what about inside?
0:14:17 > 0:14:20As you can see, it's a little bit tight on the entrance
0:14:20 > 0:14:25and with flats like this, there's almost wasted corridor space.
0:14:25 > 0:14:30But you have got a decent bedroom and a more than decent lounge area.
0:14:30 > 0:14:33Look at this. This really is spectacular.
0:14:33 > 0:14:36If you look up there, you can still see the ceiling rose intact,
0:14:36 > 0:14:41some beautiful cornicing, although there's quite a lot paint splodged over the top.
0:14:41 > 0:14:46So with some gentle brushing, hopefully you could restore them to their original splendour.
0:14:46 > 0:14:48They could look beautiful.
0:14:48 > 0:14:52But what I love the most are these old traditional windows.
0:14:52 > 0:14:56Original sashes. Beautiful. It's so nice to still see those intact.
0:14:56 > 0:14:58So a wonderful space.
0:14:58 > 0:15:02Not so much a wonderful fireplace.
0:15:02 > 0:15:06Hopefully whoever moves in will get something that's attached to the wall!
0:15:06 > 0:15:08You could do much better than that.
0:15:08 > 0:15:11But so far, so good. I'll have a look around.
0:15:11 > 0:15:14It really is a great-sized front room
0:15:14 > 0:15:16and has a lovely sunny disposition.
0:15:21 > 0:15:24The double bedroom is a reasonable size
0:15:24 > 0:15:26and has a period feature or two.
0:15:26 > 0:15:30But the period feature that has to go is this avocado bathroom suite.
0:15:30 > 0:15:33It's pretty pokey in this bathroom.
0:15:33 > 0:15:35How to increase this space?
0:15:35 > 0:15:37Well, changing to a modern combi-boiler system
0:15:37 > 0:15:40would mean that big water tank could go.
0:15:40 > 0:15:44The compact kitchen is definitely in need of an upgrade as well.
0:15:44 > 0:15:47However, I've got my developer's eye on other things.
0:15:47 > 0:15:52This could be a big opportunity in a small property in a good area.
0:15:52 > 0:15:54How would I add value?
0:15:54 > 0:15:57When you're developing a flat, the easiest way to add value
0:15:57 > 0:15:59is to add square footage.
0:15:59 > 0:16:05Now, you can't extend upwards here, but often, the option with a one-bedroomed flat
0:16:05 > 0:16:08is to convert the kitchen into a bedroom
0:16:08 > 0:16:12and turn the lounge into an open-plan dining/living space.
0:16:12 > 0:16:17You could do that here, but you would end up with a very small second bedroom.
0:16:17 > 0:16:20But - look outside.
0:16:20 > 0:16:23You own that flat roof.
0:16:23 > 0:16:26Exciting. Any central London property developer
0:16:26 > 0:16:30would be thinking of ways of how to extend over that.
0:16:34 > 0:16:37At that £300,000 guide price,
0:16:37 > 0:16:39I reckon this was well worth going for.
0:16:39 > 0:16:42But what does a local property expert think?
0:16:42 > 0:16:44Firstly, what about the area?
0:16:44 > 0:16:46Definitely in the last 18 months
0:16:46 > 0:16:49we've seen an enormous growth of interest in this area.
0:16:49 > 0:16:53A lot of our buyers are people that are coming down from South Kensington, Chelsea,
0:16:53 > 0:16:56looking for more affordable properties of the same nature
0:16:56 > 0:16:58and getting better value for their money.
0:16:58 > 0:17:01When I walked into the flat, I could instantly appreciate
0:17:01 > 0:17:03the potential that the flat offers.
0:17:03 > 0:17:05There's great room for improvement here.
0:17:05 > 0:17:09You've got a great flat, an excellent footprint offering great development potential.
0:17:09 > 0:17:11Outside space, you've got a large roof terrace
0:17:11 > 0:17:13which, subject to the right planning permission,
0:17:13 > 0:17:17could be incorporated into the flat to make it a large two-bed.
0:17:17 > 0:17:21But as a one-bed, it offers the end user excellent living accommodation.
0:17:21 > 0:17:26He estimates that, as a one-bed flat, the rent could be around 1,500 a month,
0:17:26 > 0:17:30and that it could sell for £400,000 once refurbished.
0:17:30 > 0:17:32But what if there was an extension at the back,
0:17:32 > 0:17:34creating another bedroom?
0:17:35 > 0:17:39As a two-bed flat, this would rent for £2,000 per calendar month.
0:17:39 > 0:17:42And what if they were to sell it on?
0:17:42 > 0:17:45As a two-bed flat I believe this would sell for in the region of
0:17:45 > 0:17:49475,000 to 500,000.
0:17:49 > 0:17:52Well, this Fulham flat is in a great location
0:17:52 > 0:17:54the park is at the end of the road
0:17:54 > 0:18:00and there is potential to possibly make some money on this with that flat roof.
0:18:00 > 0:18:03So who was tempted by this tasty tit-bit?
0:18:03 > 0:18:06Let's find out when we head to auction.
0:18:06 > 0:18:10Where can I start? 250? Not going to go below 250.
0:18:11 > 0:18:14250. 250 on my right.
0:18:14 > 0:18:15255?
0:18:15 > 0:18:17255.
0:18:17 > 0:18:18260?
0:18:18 > 0:18:20265?
0:18:20 > 0:18:23Don't drink, bid!
0:18:23 > 0:18:25265. 270?
0:18:25 > 0:18:27275?
0:18:28 > 0:18:29Hope it's a strong espresso!
0:18:29 > 0:18:31275?
0:18:31 > 0:18:34270 on my right.
0:18:34 > 0:18:37275? 275.
0:18:37 > 0:18:38280?
0:18:39 > 0:18:42285. 290?
0:18:42 > 0:18:44295.
0:18:44 > 0:18:46300.
0:18:46 > 0:18:48305?
0:18:48 > 0:18:50310.
0:18:53 > 0:18:54315?
0:18:54 > 0:18:56320.
0:18:57 > 0:18:59320. 325.
0:18:59 > 0:19:00330?
0:19:02 > 0:19:04335.
0:19:04 > 0:19:06340.
0:19:07 > 0:19:08345?
0:19:08 > 0:19:10350?
0:19:12 > 0:19:14345 to you.
0:19:14 > 0:19:16346? Try and help?
0:19:17 > 0:19:20Might be the... Might just do it.
0:19:20 > 0:19:21346?
0:19:22 > 0:19:24Yep. 347?
0:19:26 > 0:19:27348?
0:19:30 > 0:19:32Have a think. 347 to you, madam.
0:19:32 > 0:19:35348 elsewhere? If not, 347.
0:19:35 > 0:19:37First time, second time,
0:19:37 > 0:19:38348 at the back.
0:19:38 > 0:19:41349. 350.
0:19:41 > 0:19:43351. 352.
0:19:43 > 0:19:45353. 354.
0:19:45 > 0:19:46355.
0:19:46 > 0:19:48356.
0:19:48 > 0:19:50357. 358.
0:19:50 > 0:19:52359.
0:19:52 > 0:19:53360.
0:19:53 > 0:19:57361. 362.
0:19:57 > 0:19:59363.
0:19:59 > 0:20:00364?
0:20:02 > 0:20:04363. Back to you.
0:20:04 > 0:20:05364 elsewhere?
0:20:05 > 0:20:07If not, 363 first time.
0:20:07 > 0:20:10Second time. Third and last time. have you all done?
0:20:11 > 0:20:13Sold 363. Well bought.
0:20:15 > 0:20:19That fast flurry of bids saw the property finally sell
0:20:19 > 0:20:21for 363,000.
0:20:21 > 0:20:23It was bought by Rachel, a hairdresser.
0:20:31 > 0:20:34So can she give this flat a fancy new look?
0:20:34 > 0:20:37I caught up with her there to find out.
0:20:38 > 0:20:41- Rachel, congratulations. - Thank you very much.
0:20:41 > 0:20:43I love the area. I love the flat.
0:20:43 > 0:20:45How did you stumble across this?
0:20:45 > 0:20:48I hadn't actually seen it before I bought it,
0:20:48 > 0:20:52but I'd sent my parents to check it out because I was busy with work.
0:20:52 > 0:20:57They gave it the thumbs up and so off I went to auction!
0:20:57 > 0:21:00So they viewed it on your behalf.
0:21:00 > 0:21:02And you went to bid for it on auction day.
0:21:02 > 0:21:04I knew the area. It wasn't completely blind.
0:21:04 > 0:21:07But, yeah.
0:21:07 > 0:21:09Did your mum take lots of photos for you,
0:21:09 > 0:21:12- or did you take her word for it?- Not at all. I took her word for it.
0:21:12 > 0:21:15She's a good judge, so it's fine.
0:21:15 > 0:21:18When you saw this for the first time, what did you think?
0:21:18 > 0:21:22I was really happy about the character features
0:21:22 > 0:21:24and the ceiling roses and the picture rails.
0:21:24 > 0:21:28So it's nice to still have some features in here
0:21:28 > 0:21:30and so I was pleasantly surprised, yes.
0:21:30 > 0:21:33- So who is this flat for?- Me.- You are going to live here on your own.
0:21:33 > 0:21:36- Yes.- Is it something you've been longing to do?
0:21:36 > 0:21:40Is this a dream, to get your first rung on the property ladder?
0:21:40 > 0:21:44I already have a flat. I'm in central London, in Pimlico at the moment.
0:21:44 > 0:21:48So this is moving a bit further out. It's a little bit greener.
0:21:48 > 0:21:52Just a bit different.
0:21:52 > 0:21:56Rachel has recently given up her salon job to go freelance
0:21:56 > 0:22:00so she sees this flat as one of the changes in her life.
0:22:09 > 0:22:11So, what are her plans for it?
0:22:12 > 0:22:16I was here this morning with somebody who's going to do some work
0:22:16 > 0:22:20and we want to brush down the original ceiling rose
0:22:20 > 0:22:23and the rope work around the edge
0:22:23 > 0:22:26and just bring out the character in this room
0:22:26 > 0:22:32and do very sympathetic colours and stuff like that.
0:22:32 > 0:22:36And the kitchen and bathroom, there's no period features in those,
0:22:36 > 0:22:42so we'll keep them really minimal and put a hint of luxury in the bathroom.
0:22:42 > 0:22:43Um...
0:22:45 > 0:22:47Hopefully, anyway! That's the plan!
0:22:47 > 0:22:51Are you nervous? You seem nervous about that. I think it's exciting.
0:22:51 > 0:22:56Not really. It's exciting. It's just... It's going to take time.
0:22:56 > 0:22:58I want to do it properly. I'm a bit of a perfectionist.
0:22:58 > 0:23:02Are you going to knock any walls down? Do any structural work here?
0:23:02 > 0:23:06I may get an architect just to cast his eye over it.
0:23:06 > 0:23:11Just to be 100%, before we go ahead with what we think we're going to do.
0:23:11 > 0:23:14But I think it's fairly straightforward.
0:23:14 > 0:23:17It's a one-bedroomed flat and the proportions are great.
0:23:17 > 0:23:20This room, you wouldn't touch it at all.
0:23:20 > 0:23:24But have you thought that you could perhaps turn this into a two-bed flat?
0:23:24 > 0:23:28- What about that option?- I've thought about it
0:23:28 > 0:23:31but it would detract from this room. I wouldn't want to carve this room up.
0:23:31 > 0:23:36My aesthetic head is kind of overruling the business one, maybe.
0:23:36 > 0:23:41As it's just her, Rachel isn't too concerned about gaining that extra room,
0:23:41 > 0:23:42even though it could add value.
0:23:42 > 0:23:45She just wants to make a lovely new home for herself
0:23:45 > 0:23:47and who can argue with that?
0:23:47 > 0:23:50She's got a budget of around 20,000.
0:23:50 > 0:23:53But how long does she estimate it will take her to get it just right?
0:23:53 > 0:23:57I would hope inside of three months.
0:23:57 > 0:23:59I was originally thinking two,
0:23:59 > 0:24:01and that might be quite ambitious.
0:24:01 > 0:24:04I mean, it needs to be dressed as well.
0:24:04 > 0:24:09So I think that takes longer than doing the actual physical stuff.
0:24:09 > 0:24:13As a hairdresser, Rachel has to have creative flair.
0:24:13 > 0:24:16So that bodes well for this flat's interior design.
0:24:16 > 0:24:18It's going to be her home, after all,
0:24:18 > 0:24:21so she's right to take time to make it perfect.
0:24:34 > 0:24:38Is the prospect of having a new job and this at the same time
0:24:38 > 0:24:40a little bit daunting for you?
0:24:40 > 0:24:42No. I feel completely ready for it.
0:24:42 > 0:24:45I think, you know, things change,
0:24:45 > 0:24:48and you need to shake things up every now and then
0:24:48 > 0:24:51and come out of your comfort zone and push yourself forward
0:24:51 > 0:24:53and move on.
0:24:53 > 0:24:57I love this area and I'm really happy for you. Well done.
0:24:57 > 0:24:58- Thank you very much.- Thank you.
0:24:58 > 0:25:03Rachel is taking a lot on, going freelance as well as doing up her new flat.
0:25:03 > 0:25:08Will she be able to create the beautiful new home of her dreams
0:25:08 > 0:25:11or will her perfectionist design plans blow her budget?
0:25:11 > 0:25:15You can find out how she gets on later in the show.
0:25:16 > 0:25:22Coming up: Is this cottage in Cornwall hiding any secrets?
0:25:22 > 0:25:25I wonder what's behind it. Time to investigate!
0:25:27 > 0:25:31Back in Fulham, London, how's the restoration work been going?
0:25:31 > 0:25:36Slightly problematic in that we had a couple of leaks.
0:25:37 > 0:25:41But first, it sounds like there's been a top quality job in Durham.
0:25:41 > 0:25:44I try and do them to a high specification
0:25:44 > 0:25:46so that I want the wow feeling.
0:25:49 > 0:25:51Back now to Newton Hall.
0:25:51 > 0:25:55Lynne and her husband Richard bought this semi for £89,000
0:25:55 > 0:25:58and planned to pluck it from the era of pop art
0:25:58 > 0:26:00and plunge it into the present.
0:26:00 > 0:26:04I started doing properties up with my husband when my children were small
0:26:04 > 0:26:09because I didn't want to go back to work and it was something we could incorporate round the children.
0:26:09 > 0:26:11And then we've built up our portfolio.
0:26:11 > 0:26:14And now the children are in university.
0:26:14 > 0:26:17I've got two children to put through university
0:26:17 > 0:26:20so this is going to fund that.
0:26:20 > 0:26:24This was the 30th property for Lynne to put under her belt.
0:26:24 > 0:26:26So let's catch up with her three months on
0:26:26 > 0:26:28to find out what she's done with it.
0:26:35 > 0:26:39And judging by the results, they've certainly gone to town on the work.
0:26:43 > 0:26:46They've redecorated throughout, replacing all the internal doors
0:26:46 > 0:26:48with high-end new ones
0:26:48 > 0:26:51and there are new windows and central heating.
0:26:51 > 0:26:53All the carpets have been replaced
0:26:53 > 0:26:55with this good quality wood flooring.
0:26:55 > 0:26:58At first, it wasn't the floor I was going to go for.
0:26:58 > 0:27:02And then the supplier had just got this stock in
0:27:02 > 0:27:05and I thought a walnut floor would be nice.
0:27:05 > 0:27:09It will complement the doors. And yes, it works very well. I'm pleased with it.
0:27:12 > 0:27:16What a change from the old '60s decor that was here before.
0:27:16 > 0:27:20I'm so glad to see that Lynne has modernised the central heating system.
0:27:20 > 0:27:24That's a very attractive selling point for potential buyers.
0:27:24 > 0:27:27When we bought it, the property had ducted air central heating.
0:27:27 > 0:27:30It meant that we wanted to remove that,
0:27:30 > 0:27:33so we had to supply a new boiler, all new central heating pipes,
0:27:33 > 0:27:35radiators in the property.
0:27:35 > 0:27:40Any old pipes or ducts that were in the property had to be removed.
0:27:41 > 0:27:44The only structural change in the house has been the new kitchen.
0:27:44 > 0:27:49The door's been blocked up, leaving more space for units on the walls.
0:27:49 > 0:27:52And she's picked a really striking kitchen.
0:27:53 > 0:27:56I try and do them to a high specification
0:27:56 > 0:27:58so that I want the wow feeling.
0:27:58 > 0:28:02It makes it different from the other properties that are on the market at the moment.
0:28:02 > 0:28:04I want somebody to walk in the door,
0:28:04 > 0:28:08see the doors, the walnut, that everything flows.
0:28:08 > 0:28:12And this is why I always go for the higher top end bracket
0:28:12 > 0:28:17for my fittings and flooring and everything, really.
0:28:17 > 0:28:20Out at the back, they've made a great little decking area
0:28:20 > 0:28:23to go with the new patio doors leading out from the dining room.
0:28:25 > 0:28:30There was a difference in level, so I just put a couple of steps down
0:28:30 > 0:28:32and then put the decking in
0:28:32 > 0:28:38because I wanted to feel that the house and garden could become one
0:28:38 > 0:28:39as a utilised space.
0:28:46 > 0:28:51Even with the high-end kitchen and high-spec shiny new floors,
0:28:51 > 0:28:55Lynne's still managed to come in under budget at 25,000.
0:28:55 > 0:28:58Her original budget was 26,500.
0:28:59 > 0:29:02There was no problem with the time frame, either.
0:29:02 > 0:29:05The work was actually done in eight weeks rather than nine.
0:29:05 > 0:29:10But it does help when there's a reliable team of workers on hand.
0:29:10 > 0:29:13The gentleman who did the work is my friend's husband.
0:29:13 > 0:29:16He has a team that work with him.
0:29:16 > 0:29:19So he has an electrician and a plumber
0:29:19 > 0:29:21and plasterer and everything like that.
0:29:21 > 0:29:26So it really was very good because I was able just to say to him,
0:29:26 > 0:29:28"This is the criteria, this is what I want you to stick to."
0:29:28 > 0:29:33And he did. As far as I was concerned, he did an excellent job.
0:29:33 > 0:29:38And I could come in at the end of the day with my cleaner, clean the property up
0:29:38 > 0:29:40and there we have it.
0:29:40 > 0:29:42A stress-free renovation, then.
0:29:42 > 0:29:44It certainly looks to me as though
0:29:44 > 0:29:46they've done a cracking job.
0:29:46 > 0:29:48What will two local property experts make of it?
0:29:48 > 0:29:50First, the one who saw it before.
0:29:50 > 0:29:53The property's certainly been transformed out of all recognition
0:29:53 > 0:29:55from when I last saw it.
0:29:55 > 0:29:57The addition of the patio doors
0:29:57 > 0:29:59onto the decking area at the back
0:29:59 > 0:30:02really adds another dimension to the lounge/diner.
0:30:02 > 0:30:04I think the changes to the kitchen layout
0:30:04 > 0:30:09have provided ample storage space for the family buyer.
0:30:09 > 0:30:13And also the useful utility room shows there's plenty of space.
0:30:13 > 0:30:15The actual finished product of the property
0:30:15 > 0:30:17is certainly a very high-end quality finish.
0:30:17 > 0:30:21It's nice for a change to see rather than the blank magnolia colours
0:30:21 > 0:30:24a more opinionated colour running through the property.
0:30:24 > 0:30:28For me, the highlight of this property is certainly the bathroom.
0:30:28 > 0:30:30It's been finished to an excellent standard.
0:30:30 > 0:30:33The suite is modern and the tiling has been finished to
0:30:33 > 0:30:35an excellent standard.
0:30:35 > 0:30:38This will certainly appeal to a wide range of buyers.
0:30:38 > 0:30:41The result is winning compliments all round.
0:30:41 > 0:30:44So how much profit do they think Lynne and Richard have made?
0:30:44 > 0:30:49They bought it for 89,000 and have done around £25,000-worth of work.
0:30:49 > 0:30:55So is it worth more than their total outlay of around 114,000?
0:30:55 > 0:30:59For this property, I would expect to achieve £150,000.
0:30:59 > 0:31:01If the property goes onto the open market,
0:31:01 > 0:31:05I would recommend an asking price in the region of £150,000.
0:31:05 > 0:31:10Looking at the standard of the interior of the property,
0:31:10 > 0:31:13then yes, I can say that 150 is what I'd be looking for.
0:31:14 > 0:31:16If it does sell for this price,
0:31:16 > 0:31:21that's a great little earner of 36,000 excluding the usual tax and expenses.
0:31:21 > 0:31:25That's definitely going to help with those university fees.
0:31:25 > 0:31:27Lynne's set on selling this one,
0:31:27 > 0:31:30but what will she do now this project is complete?
0:31:30 > 0:31:33Will she seek more properties for her portfolio?
0:31:36 > 0:31:38I will be now looking for a new property.
0:31:38 > 0:31:42I'm going round looking around the auctions like I did to find this little gem.
0:31:45 > 0:31:48Liskeard in Cornwall is a busy market town
0:31:48 > 0:31:50just 20 miles from Plymouth.
0:31:50 > 0:31:52It offers good road and rail links
0:31:52 > 0:31:54and even on a damp day such as this
0:31:54 > 0:31:56is a hive of activity.
0:31:56 > 0:31:59Today's auction lot is just three miles away
0:31:59 > 0:32:03in the rural hamlet of Tremar Coombe.
0:32:03 > 0:32:07I'm here to see a property which had a flowery write-up in the auction catalogue.
0:32:07 > 0:32:09Character cottage, two-storeys.
0:32:09 > 0:32:12Had a guide price of 70 to 90,000 quid.
0:32:12 > 0:32:15Looks pretty good from the outside.
0:32:15 > 0:32:17I've got high hopes for this one.
0:32:17 > 0:32:20There's parking opposite the cottage, a decent slate roof
0:32:20 > 0:32:24and a porch, perfect to shake that rain from my umbrella.
0:32:26 > 0:32:28Oh, dear. A bit wet today,
0:32:28 > 0:32:32but you can imagine on a sunny day the view out the front would be really lovely.
0:32:32 > 0:32:36Straightaway you can tell this is definitely a cottage with character.
0:32:36 > 0:32:39An open fire, which is nice, some beams you could strip back.
0:32:39 > 0:32:42It's not huge, but look at the thickness of the walls.
0:32:42 > 0:32:47Absolutely marvellous. One thing it probably won't have, therefore, is damp proofing.
0:32:47 > 0:32:51So, properties like this, what I'm looking for is signs of damp.
0:32:51 > 0:32:54One thing that will dry the damp out is getting some heat in here
0:32:54 > 0:32:57and one thing to provide that is this old Rayburn.
0:32:57 > 0:32:59It would be lovely to keep that.
0:32:59 > 0:33:03But probably whoever takes this on will replace it with something more modern
0:33:03 > 0:33:06which is a shame because it does give character.
0:33:06 > 0:33:09Likewise, this sink. A little Belfast sink with this old draining board.
0:33:09 > 0:33:13I mean, it's charming. Could you keep it? Again, probably not.
0:33:13 > 0:33:18These units, strangely, are back in fashion these days, but again, they'll probably go.
0:33:18 > 0:33:23It's just of those properties straightaway somebody will definitely fall in love with this.
0:33:30 > 0:33:32Yes, it might have no central heating.
0:33:32 > 0:33:36It's single-glazed and there's no real kitchen to speak of.
0:33:36 > 0:33:39There's a rear extension that's certainly seen better days
0:33:39 > 0:33:43and downstairs, overall, it feels rather boxy.
0:33:43 > 0:33:46But already I can feel it exerting its charms on me.
0:33:48 > 0:33:51Upstairs and - hold the front page! -
0:33:51 > 0:33:54it has been a very long time
0:33:54 > 0:33:57since the two rooms have had any work done on them!
0:33:57 > 0:34:01I don't know why, but the more I see, the more I like this cottage.
0:34:03 > 0:34:07The good news is that the bathroom is upstairs.
0:34:07 > 0:34:10You might not expect it in a property like this.
0:34:10 > 0:34:13Carrying on with this theme
0:34:13 > 0:34:16of being a cottage with character, the shape is really interesting.
0:34:16 > 0:34:18It's kind of triangular.
0:34:18 > 0:34:19It sort of works.
0:34:19 > 0:34:24You'd probably want to replace the suite, but again it's got that charm to it
0:34:24 > 0:34:27with the high-level cistern and everything like that.
0:34:27 > 0:34:29Interesting thing here.
0:34:29 > 0:34:32That is a stud partition wall.
0:34:32 > 0:34:34I wonder what's behind it?
0:34:34 > 0:34:36Time to investigate.
0:34:37 > 0:34:40AS AMERICAN P.I: The trail ran cold as the tap inside.
0:34:40 > 0:34:43But I was no rookie. To get to the bottom of this mystery,
0:34:43 > 0:34:46I was going to have to take this investigation outside.
0:34:52 > 0:34:54HE LAUGHS
0:34:54 > 0:34:55Right!
0:34:55 > 0:34:57OK!
0:34:57 > 0:34:59So that's what it's all about.
0:34:59 > 0:35:03This is a room you get to out the back door, up a set of stairs,
0:35:03 > 0:35:07through the garden and you come into this strange place.
0:35:07 > 0:35:11That is the other side of that loo area.
0:35:11 > 0:35:14And you can see this box has been created.
0:35:14 > 0:35:16Fantastic. Take it out.
0:35:16 > 0:35:20Take this down, go way the heck up into the rafters
0:35:20 > 0:35:22to create a really nice space.
0:35:22 > 0:35:25You could have a massive bathroom here as a replacement,
0:35:25 > 0:35:28or even the space for maybe something else as well.
0:35:28 > 0:35:33Either way, it just adds to the quirkiness of this place!
0:35:33 > 0:35:37The auction catalogue describes this room as the garden room.
0:35:37 > 0:35:41Maybe because you can only access it from the garden at present.
0:35:41 > 0:35:46Or perhaps because you get great views of that good-sized rear garden from it.
0:35:46 > 0:35:48But what to make of this cottage?
0:35:48 > 0:35:53It definitely could be the love of your life. But at some cost.
0:35:57 > 0:35:59Would it be worth the heartache?
0:35:59 > 0:36:02What does the auctioneer who sold it make of what's on offer here?
0:36:05 > 0:36:07The current accommodation is a bit tight and snug.
0:36:07 > 0:36:10You expect that with a character cottage in Cornwall.
0:36:10 > 0:36:14But you may want to extend out the rear to create an additional kitchen area
0:36:14 > 0:36:17which would free up the downstairs living accommodation.
0:36:17 > 0:36:20Of course, that means extra work,
0:36:20 > 0:36:23but lots of work can also mean lots of room for improvement
0:36:23 > 0:36:26and potentially a rewarding uplift in value.
0:36:26 > 0:36:32So, would that be the case for this cottage which was guided at 70 to 90,000?
0:36:35 > 0:36:37This property, once renovated,
0:36:37 > 0:36:41could fetch somewhere in the region of 140 to maybe £150,000.
0:36:41 > 0:36:44Encouraging news for a resale market.
0:36:44 > 0:36:47But how could it fare as a rental property?
0:36:47 > 0:36:49As long as it's done to a reasonable standard,
0:36:49 > 0:36:53you could probably fetch 575 to £600 per calendar month.
0:36:56 > 0:37:00Well, if you're a fan of new builds or standard two-up, two-down terraces,
0:37:00 > 0:37:02this is not the cottage for you.
0:37:02 > 0:37:06However, if you like something with character, charm and quirkiness,
0:37:06 > 0:37:08it's a great one to go for.
0:37:08 > 0:37:11Let's see who agreed when it went under the hammer.
0:37:14 > 0:37:16Lot number 65.
0:37:16 > 0:37:17A handsome cottage.
0:37:17 > 0:37:20It's two bedrooms, mid-terrace, needs a bit of cheering up.
0:37:20 > 0:37:23Kitchen, bathroom, general modernisation throughout.
0:37:23 > 0:37:25I won't go below 70. 70, there's two.
0:37:25 > 0:37:2870 on the left I'll take first. At 70 we're in. At 70.
0:37:28 > 0:37:32At 70. 72. Very close. 72.
0:37:32 > 0:37:34Four. Six.
0:37:35 > 0:37:38Eight. 80.
0:37:38 > 0:37:39At 80. Shake of the head.
0:37:39 > 0:37:4380 you're in, sir. Green jacket. 80,000. At 80, then.
0:37:43 > 0:37:46At 80,000 for the first time.
0:37:46 > 0:37:48At 80,000 for the second time.
0:37:48 > 0:37:51At £80,000, third and final time.
0:37:51 > 0:37:55Gentleman has it. Back row. Selling at £80,000.
0:37:55 > 0:37:57Congratulations, sir.
0:37:57 > 0:38:01That successful bid of 80,000 came from Derek.
0:38:03 > 0:38:07He was bidding on behalf of his stepson, Steve.
0:38:07 > 0:38:11Steve's a builder and joined me along with Derek at the cottage.
0:38:15 > 0:38:18Derek, Steve. Good to meet you both.
0:38:18 > 0:38:19- Congratulations.- Thank you.
0:38:19 > 0:38:21So, why this place?
0:38:21 > 0:38:23It was just in our price range, really.
0:38:23 > 0:38:26It was interesting. I like the property.
0:38:26 > 0:38:29This seemed to be a unique project. It fits in with Stephen, his time.
0:38:29 > 0:38:32- It's going to be good for him. - Right.
0:38:32 > 0:38:35Is this something you do, then?
0:38:35 > 0:38:36I am a builder, yes.
0:38:36 > 0:38:39But it's my first renovation project.
0:38:39 > 0:38:41- Yep.- So why now?
0:38:41 > 0:38:45Why now? Because I have the money at the moment to do it.
0:38:45 > 0:38:47- Fair enough.- Rather than waste it,
0:38:47 > 0:38:49- I might as well spend it on a property.- Right.
0:38:49 > 0:38:53Is this for you, or is it to rent out or sell on or what?
0:38:53 > 0:38:56- It's for me initially. - Right. So you'll live here?
0:38:56 > 0:39:02- Yes.- Great.- But I may sell it if somebody was to offer me the right money for it!
0:39:02 > 0:39:07Derek's already got his own small portfolio of rental properties.
0:39:07 > 0:39:10So he'll be giving Steve guidance and moral support
0:39:10 > 0:39:13on this, his first property project.
0:39:13 > 0:39:16How are you going to turn it around? What's the plan?
0:39:16 > 0:39:19- To open it up downstairs.- OK.
0:39:19 > 0:39:23- Some big, thick walls to take out, then.- Yeah. I've got a big hammer!
0:39:24 > 0:39:27- An extension.- Oh.
0:39:27 > 0:39:29There's a little room on the back at the moment.
0:39:29 > 0:39:32I think there's a lot of wasted space back there.
0:39:32 > 0:39:35So we've had some plans drawn up
0:39:35 > 0:39:38and we'll have a nice little extension back there.
0:39:38 > 0:39:41- Will it be a two-storey extension? - No, just single storey.
0:39:41 > 0:39:42What will that contain?
0:39:42 > 0:39:45- The kitchen and a downstairs WC.- OK.
0:39:45 > 0:39:49Then we hope to do something with the garden room.
0:39:49 > 0:39:54Incorporate that. A mini sitting room with a bunk room over the top.
0:39:54 > 0:39:58- Something along those lines.- Wow. - Yeah.- Access from the bathroom.
0:39:58 > 0:40:01So what's the budget?
0:40:01 > 0:40:03- Around 20,000.- Right.
0:40:03 > 0:40:05And who's going to do the work?
0:40:05 > 0:40:08- We are.- I like the "we"!
0:40:08 > 0:40:12- Stephen's doing it.- I'm going to, but Derek will be assisting along the way.
0:40:12 > 0:40:14We'll be together.
0:40:14 > 0:40:16Have you worked together before?
0:40:16 > 0:40:17- Yes.- Yes, we have.
0:40:17 > 0:40:19We get on fine together.
0:40:20 > 0:40:23Along with Derek as his advisor,
0:40:23 > 0:40:26Steve has a number of friends in the trade he can call on to help.
0:40:26 > 0:40:31How long do they think it will take to make this Steve's new home?
0:40:35 > 0:40:37Depends on how long he's playing.
0:40:37 > 0:40:39He likes cycling and motorcycling.
0:40:39 > 0:40:43- Does he?- He nips off evenings and weekends playing
0:40:43 > 0:40:46- when he should be working!- You've got to have some fun in life!
0:40:46 > 0:40:47You do. Tell me more about that.
0:40:47 > 0:40:52I just like my cycling. My off-road cycling and motorbikes. I'm mad on it.
0:40:52 > 0:40:55So you might be off cycling when you should in fact be...
0:40:55 > 0:40:59Maybe. Maybe. Probably be after work, though.
0:40:59 > 0:41:02- Good. Congratulations.- Thank you.
0:41:02 > 0:41:06- Good luck with it. Look forward to seeing how you get on.- Thank you.
0:41:06 > 0:41:12Well, Derek and stepson Steve taking on this project and looking forward to it.
0:41:12 > 0:41:17I think the only big thing is whether Steve decides to set off on the Tour de Cornwall
0:41:17 > 0:41:21and spends too much time on his bike rather than restoring this place.
0:41:21 > 0:41:25How will he get on? How will they get on? Find out later in the show.
0:41:27 > 0:41:30Time has passed since we last saw those properties.
0:41:30 > 0:41:33So, has any work been done on them?
0:41:33 > 0:41:35Or do they look exactly the same?
0:41:35 > 0:41:37Let's find out.
0:41:38 > 0:41:40Back now to Fulham in south-west London
0:41:40 > 0:41:42where Rachel bought this one-bedroomed flat
0:41:42 > 0:41:45for 363,000.
0:41:45 > 0:41:48She's taken a bit of time out from hairdressing
0:41:48 > 0:41:51to relocate and make this her new home.
0:41:51 > 0:41:54So you might have expected she'd have viewed it first!
0:41:56 > 0:41:59I hadn't actually seen it before I bought it,
0:41:59 > 0:42:03but I sent my parents to check it out because I was busy with work and stuff.
0:42:03 > 0:42:05And they gave it the thumbs up
0:42:05 > 0:42:08so off I went to auction.
0:42:08 > 0:42:10So they viewed it for you, on your behalf
0:42:10 > 0:42:12and you went to bid for it on auction day.
0:42:12 > 0:42:15I knew the area. It wasn't completely blind.
0:42:15 > 0:42:18And with a gorgeous park just round the corner,
0:42:18 > 0:42:21I'd have to agree it really is a perfect spot.
0:42:21 > 0:42:24So, seven months on from our last visit,
0:42:24 > 0:42:27let's catch up with Rachel and see what she's done here.
0:42:42 > 0:42:45It's a really lovely job. So far.
0:42:45 > 0:42:48There's the obvious redecoration throughout
0:42:48 > 0:42:51but behind those freshly replastered walls,
0:42:51 > 0:42:55there's now insulation to keep in the heat from the new central heating system.
0:42:55 > 0:42:58I thought Rachel could have extended over that flat roof area,
0:42:58 > 0:43:01but she feels she can make this her ideal home
0:43:01 > 0:43:03without the need for that change.
0:43:14 > 0:43:17But what she has done with the space she's got is absolutely wonderful.
0:43:17 > 0:43:20Just look at this high-end loo and shower room.
0:43:22 > 0:43:26The bathroom was a small room but a big job.
0:43:27 > 0:43:30My boyfriend is the plumber, so that came in fairly handy!
0:43:30 > 0:43:36So he changed the mains feed where it comes into the room.
0:43:36 > 0:43:37He took out the water tank.
0:43:37 > 0:43:39He put all new pipework in
0:43:39 > 0:43:43and we took out an old bath and put a nice walk-in shower
0:43:43 > 0:43:46with loo and wash-hand basin.
0:43:48 > 0:43:50'It's always handy to have a plumber on hand!
0:43:50 > 0:43:54'In fact, her boyfriend Ian's been helping Rachel out with a lot of the work,
0:43:54 > 0:43:56'as have her parents.
0:43:56 > 0:43:59'There are still some outstanding jobs to get on with, though.
0:43:59 > 0:44:01'The main one being in the kitchen.
0:44:01 > 0:44:02'So why the delay?
0:44:02 > 0:44:06'Well, if only the flat upstairs had a plumber on stand-by, too.'
0:44:09 > 0:44:12The kitchen has been slightly problematic
0:44:12 > 0:44:17in that we had a couple of leaks from upstairs.
0:44:19 > 0:44:22They had a plumber in and, yes, there was a slight incident!
0:44:22 > 0:44:26But we've done a lot of work to the kitchen. We've put a new ceiling in,
0:44:26 > 0:44:28and we've rewired it with new spotlights.
0:44:28 > 0:44:31We've got sheeps' wool insulation above the ceiling in the kitchen
0:44:31 > 0:44:35to keep the warmth in and cut down noise cos it's on the back of the building.
0:44:35 > 0:44:39Then a nice kitchen with porcelain tiles on the floor
0:44:39 > 0:44:42and I'm just waiting for the quartz worktop to be fitted.
0:44:42 > 0:44:47But because we have work to do to redecorate having had the leak,
0:44:47 > 0:44:50we have to just put that on hold at the moment.
0:44:50 > 0:44:55'In fact the leak from above the kitchen delayed them by about five weeks in the end
0:44:55 > 0:44:58'as there wasn't just the one leak!'
0:44:58 > 0:45:00Subsequent to that being remedied,
0:45:00 > 0:45:02we walked in one day to do some decorating,
0:45:02 > 0:45:04just after Christmas in January,
0:45:04 > 0:45:07and there was a pool of water on the floor.
0:45:07 > 0:45:10So more water had come through the ceiling the other side.
0:45:10 > 0:45:12So it was a bit gutting!
0:45:13 > 0:45:16'But the problem was finally fixed upstairs,
0:45:16 > 0:45:19'and Rachel redecorated and patched up where required.
0:45:19 > 0:45:22'That wasn't the only repair work in the flat, though,
0:45:22 > 0:45:27'as she was always keen to give some love and attention to those grand old cornices.'
0:45:29 > 0:45:32The coving was my favourite thing. It was the nastiest job.
0:45:32 > 0:45:34It took days and days and days.
0:45:34 > 0:45:37Where some bits were actually broken,
0:45:37 > 0:45:38where we took away so much paint,
0:45:38 > 0:45:40they'd dropped down.
0:45:40 > 0:45:44So we took a piece down, had it recast, replicated,
0:45:44 > 0:45:47and then put it back up where the bits were missing.
0:45:47 > 0:45:49So it was a complete job.
0:45:49 > 0:45:51But it was well worth it. I was happy.
0:45:51 > 0:45:55'So all good up there, and once she gets the carpets and wooden flooring down,
0:45:55 > 0:45:57'it'll be almost there.
0:45:57 > 0:46:01'She may be five weeks off schedule, but how's the budget looking?
0:46:01 > 0:46:04'Originally, she'd hoped to spend just £20,000.'
0:46:04 > 0:46:09I think it's gone on from that and we're into the late 20s now.
0:46:09 > 0:46:12It's pretty much finished. Well, it is finished.
0:46:12 > 0:46:15I've allowed for the repairs and stuff, so...
0:46:15 > 0:46:17Yeah, late 20s.
0:46:17 > 0:46:22'It sounds like Rachel's had her mind on the creative design of the flat
0:46:22 > 0:46:23'rather than the budget.
0:46:23 > 0:46:27'So let's for the sake of argument, call it 27,000
0:46:27 > 0:46:29'as a ballpark spend.
0:46:29 > 0:46:32'Add that to her 363,000 purchase price
0:46:32 > 0:46:36'and that makes a total investment of 390,000.
0:46:37 > 0:46:41'So, has she added value to this flat in fashionable Fulham?
0:46:41 > 0:46:43'We asked two local estate agents.'
0:46:43 > 0:46:46As you walk into the property it feels very clean and fresh.
0:46:46 > 0:46:49The front room is very bright and offers high ceilings
0:46:49 > 0:46:50which is a lovely feature.
0:46:50 > 0:46:53I'm very impressed with the flat. It's nice and bright, light,
0:46:53 > 0:46:55good colours, good finish, good detail.
0:46:55 > 0:46:57The bathroom has been finished well.
0:46:57 > 0:46:59I like the large tiling in the bathroom.
0:46:59 > 0:47:02Again it has a lovely clean feeling throughout.
0:47:02 > 0:47:05And offers a lovely sized shower
0:47:05 > 0:47:07so all in all, very good.
0:47:07 > 0:47:09I was quite impressed with the kitchen.
0:47:09 > 0:47:12It's not a large space, but the cleverness of what she's done is really apparent.
0:47:12 > 0:47:17Good surfaces, good storage. Excellent functioning kitchen.
0:47:17 > 0:47:21I think the market is very strong for both rentals and sales.
0:47:21 > 0:47:24I would see no problem with this coming to the market and selling in a timely manner.
0:47:24 > 0:47:28The standard of work is good and is in fitting with this type of property
0:47:28 > 0:47:30and certainly in fitting with the area.
0:47:30 > 0:47:34The standard of work she's done is excellent. Perfect for this style of property.
0:47:34 > 0:47:37'Rachel's not going to be selling any time soon.
0:47:37 > 0:47:40'This is going to be her new home, after all.
0:47:40 > 0:47:44'But if she did, what do the experts think she could get?
0:47:45 > 0:47:49'Remember, her total outlay here has been about 390,000
0:47:49 > 0:47:52'so anything more than that is welcome news.'
0:47:54 > 0:47:58I would expect this property to achieve in the region of £450,000.
0:47:58 > 0:48:00If I was to put this property on the market,
0:48:00 > 0:48:03I would expect it to achieve £450,000.
0:48:03 > 0:48:06Yeah, I mean, I guess I'm fairly happy with that, yeah.
0:48:07 > 0:48:11'That could be a 60 grand profit, which is great.
0:48:11 > 0:48:14'But for Rachel, it's not about the money.
0:48:14 > 0:48:18'She's just happy to be almost in her new cosy nest.'
0:48:18 > 0:48:20I've really loved doing this project, actually.
0:48:20 > 0:48:23I'm really pleased the way it's turned out
0:48:23 > 0:48:25and it's a nice space.
0:48:25 > 0:48:28It will be nice to be back in my own space
0:48:28 > 0:48:31in a brand-new flat, basically.
0:48:31 > 0:48:33I'm spoilt!
0:48:37 > 0:48:40Just a short distance from the Cornish town of Liskeard,
0:48:40 > 0:48:43we came across a two-bed mid-terraced cottage.
0:48:43 > 0:48:47It was one of those properties that you either love or hate
0:48:47 > 0:48:51with quirky, oddly-shaped rooms, nooks and crannies.
0:48:51 > 0:48:53It wasn't short of character,
0:48:53 > 0:48:55but wasn't in great condition, either.
0:48:55 > 0:48:58It was going to need a little dedication and love
0:48:58 > 0:49:00to bring it back to life.
0:49:01 > 0:49:05Local builder Steve, with guidance from his stepfather, Derek,
0:49:05 > 0:49:08felt he was the right man for the job.
0:49:10 > 0:49:14Is this for you, or is it to rent out or sell on or what?
0:49:14 > 0:49:18- It's for me initially.- Right. You'll live here?- Yes.- Great.
0:49:18 > 0:49:22But I may sell it if somebody offered me the right money for it.
0:49:22 > 0:49:25Steve had big plans for the cottage.
0:49:25 > 0:49:30He wanted to open up the ground floor, build a new improved extension,
0:49:30 > 0:49:35and integrate a rather odd "garden room" into the cottage.
0:49:35 > 0:49:38Armed with a £10-15,000 budget
0:49:38 > 0:49:41he hoped, along with friends in the trade,
0:49:41 > 0:49:43to turn it round in three to four months.
0:49:43 > 0:49:46Now, nearly five months later, we're back.
0:49:47 > 0:49:50With new windows and paintwork,
0:49:50 > 0:49:53the front definitely has a much more loved look about it.
0:49:53 > 0:49:56And the back?
0:49:56 > 0:49:58Well, the garden may need some tidying up,
0:49:58 > 0:50:01but there's a greatly improved rear extension.
0:50:01 > 0:50:04So the signs are definitely good from the outside.
0:50:04 > 0:50:09With Steve away, it was down to stepfather Derek to give us a progress report.
0:50:09 > 0:50:10It was in a terrible state.
0:50:10 > 0:50:14When we took it back to its raw state, it really was four walls and a roof.
0:50:14 > 0:50:20No-one could live in it then. Since then, Stephen has done a wonderful job.
0:50:20 > 0:50:23He's brought it back to life. A lovely home.
0:50:23 > 0:50:25Yes, it was in a sorry state.
0:50:28 > 0:50:30But it certainly isn't now.
0:50:30 > 0:50:32There's a fabulous open-plan lounge
0:50:32 > 0:50:38which leads now to a fantastic kitchen situated in the bigger and better extension.
0:50:40 > 0:50:42There's even a downstairs cloakroom.
0:50:42 > 0:50:45Wow, what an improvement.
0:50:47 > 0:50:50Originally, this was an opening, a window,
0:50:50 > 0:50:52looking out from the kitchen.
0:50:52 > 0:50:55There were two rooms on the ground floor here.
0:50:55 > 0:51:00There was a Rayburn in this recess, which has been left vacant for a woodburner.
0:51:00 > 0:51:03And the door leading out of the kitchen to the back
0:51:03 > 0:51:05was here by the radiator.
0:51:05 > 0:51:07The stairs are in the same position.
0:51:07 > 0:51:10Except we've got a new set of stairs which are much safer.
0:51:10 > 0:51:15And between the two rooms here there was a wall across with a doorway between.
0:51:15 > 0:51:17All of that Stephen has removed now
0:51:17 > 0:51:22to expose a large living room full of character.
0:51:22 > 0:51:25Derek's right. Opening up the downstairs hasn't just made it
0:51:25 > 0:51:27a much more welcoming space,
0:51:27 > 0:51:30it also shows off the character features of the cottage.
0:51:30 > 0:51:34But what about upstairs? Is that equally impressive?
0:51:38 > 0:51:42It sure is, with the two bedrooms having a full refurbishment
0:51:42 > 0:51:45complete with new doors, carpets and decor.
0:51:49 > 0:51:51There's new central heating fitted throughout
0:51:51 > 0:51:54and the bathroom is now much more contemporary.
0:51:57 > 0:52:01And remember that odd boarded up space behind the bathroom?
0:52:01 > 0:52:05It could only be reached from outside through a door at the back.
0:52:05 > 0:52:09Well, Steve and Derek have found a novel way to utilise it.
0:52:10 > 0:52:12We're now in the garden room.
0:52:12 > 0:52:16The access is from the outside door.
0:52:16 > 0:52:21There was a partition behind me with the bathroom hidden behind it.
0:52:21 > 0:52:27Stephen has opened it up to provide access into the main house from this room.
0:52:27 > 0:52:29He now calls it the bunk room
0:52:29 > 0:52:33with space for a desk could be here or a bunk,
0:52:33 > 0:52:35with storage and a bunk space at the top.
0:52:35 > 0:52:39# I climb way up to the top of the stairs
0:52:39 > 0:52:43# And all my cares just drift right into space
0:52:43 > 0:52:46# Up on the roof... #
0:52:46 > 0:52:49It's a clever solution to making the most of an awkward space.
0:52:49 > 0:52:52Apart from some work on the rear extension
0:52:52 > 0:52:54and a tidy-up of the garden,
0:52:54 > 0:52:59it looks like Steve, with moral support from Derek and help from friends in the building trade
0:52:59 > 0:53:03has successfully carried out his plans for the cottage.
0:53:03 > 0:53:06But with commitments elsewhere,
0:53:06 > 0:53:11it seems Steve's had a rethink about what to do with his first property investment.
0:53:11 > 0:53:15The idea of the purchase of this house was a home for Stephen.
0:53:15 > 0:53:17He won't be living here as originally planned
0:53:17 > 0:53:23but he is intending to let the property rather than sell it in this economic times.
0:53:24 > 0:53:27So, Steve may have made it into a home,
0:53:27 > 0:53:29but just not for him.
0:53:29 > 0:53:32It's now very much an investment property.
0:53:35 > 0:53:40Budget-wise, Steve hoped to spend 20,000 on the improvements.
0:53:40 > 0:53:43Unfortunately, the digging out of the extension at the back,
0:53:43 > 0:53:46the labour content, and the cost of materials generally
0:53:46 > 0:53:48he has gone over-budget.
0:53:48 > 0:53:51I think he's probably spent around 25,000.
0:53:53 > 0:53:58A £25,000 spend on top of the £80,000 purchase price
0:53:58 > 0:54:03takes the total outlay to 105,000 without costs or fees.
0:54:03 > 0:54:06So, is this cottage an attractive proposition on the property market?
0:54:06 > 0:54:09What do two local experts think?
0:54:12 > 0:54:13As you walk in the door,
0:54:13 > 0:54:16it's an amazing transformation what they've done,
0:54:16 > 0:54:18particularly opening up the living/dining area,
0:54:18 > 0:54:21going through into the kitchen breakfast room. It's very nice.
0:54:21 > 0:54:23It's been finished off to an excellent standard.
0:54:23 > 0:54:26Nice neutral colours which will appeal to a wide audience.
0:54:26 > 0:54:30It's a very high standard of work that they've completed on the property.
0:54:30 > 0:54:32From top to bottom, including the mod cons,
0:54:32 > 0:54:34everything they've done, no expense spared,
0:54:34 > 0:54:36and it will open it up to the full marketplace.
0:54:36 > 0:54:39The loft room is certainly a nice little touch
0:54:39 > 0:54:43because it sets the property apart from quite a lot of the others in the area.
0:54:43 > 0:54:48It will probably be used either as a kids' room or as an office/study.
0:54:48 > 0:54:52You've got access to the garden which will also appeal to people.
0:54:52 > 0:54:56The way the property is configured, it's screaming out for a professional couple
0:54:56 > 0:54:58or young family. It has everything they need
0:54:58 > 0:55:01particularly with the mod cons and the garden at the back
0:55:01 > 0:55:03which is very large as well.
0:55:04 > 0:55:07Steve's now looking at this as a long-term rental.
0:55:07 > 0:55:11But how would his £105,000 investment fare
0:55:11 > 0:55:12if put up for sale?
0:55:12 > 0:55:16I would certainly expect the property to achieve on the open market
0:55:16 > 0:55:19somewhere in the region of £150,000.
0:55:19 > 0:55:25In the current market, we would expect a market value of between 135 and £140,000.
0:55:25 > 0:55:30A resale of between 135 and 140 is probably realistic in today's market.
0:55:30 > 0:55:33150 or a little bit more would be ideal.
0:55:33 > 0:55:36But I think Stephen at the moment is looking at rental
0:55:36 > 0:55:39rather than selling in the present economic market.
0:55:39 > 0:55:45That's a potential pre-tax profit of between 30 and £45,000.
0:55:45 > 0:55:49Not bad! But how would it do on the more relevant rental market?
0:55:49 > 0:55:51Putting it on the rental market,
0:55:51 > 0:55:55you could probably achieve between 550 and £600 per calendar month.
0:55:55 > 0:56:01In the current market, we would expect to get between 525 and £550 per calendar month.
0:56:01 > 0:56:06I think 550 to 600 is a very good rental for the area, for the cottage.
0:56:06 > 0:56:09I think Stephen will be well pleased with it.
0:56:09 > 0:56:13Yes, even the lowest rental figure, £525 per calendar month,
0:56:13 > 0:56:16would see an annual rental yield of over six per cent.
0:56:16 > 0:56:19So this previously rather shabby cottage
0:56:19 > 0:56:22has certainly scrubbed up well as an investment.
0:56:22 > 0:56:27What does Derek think of the transformation Steve's made here?
0:56:29 > 0:56:32I'm so proud of what Stephen has achieved here.
0:56:32 > 0:56:35The end product is wonderful. I could happily live here myself.
0:56:38 > 0:56:41Make sure you join in next time for more auction ups and downs.
0:56:41 > 0:56:44Yes. From basements to bungalows to building plots.
0:56:44 > 0:56:48- You'll find them all here on Homes Under The Hammer.- Goodbye!- Goodbye!