0:00:02 > 0:00:05- Hello, and welcome to the show.- For many, buying and doing up property
0:00:05 > 0:00:09is just a dream, but for others it's a wonderful reality.
0:00:09 > 0:00:13So are you a doer or a dreamer when it comes to homes under the hammer?
0:00:39 > 0:00:43Well, buying at auction is exciting but it can be stressful.
0:00:43 > 0:00:46The hammer goes down and, in a second, you've bought a house.
0:00:46 > 0:00:50So if you are planning to buy at auction, make sure you're prepared.
0:00:50 > 0:00:52So let's take a look at the auction properties
0:00:52 > 0:00:55that were up for sale on today's show.
0:00:56 > 0:01:00In Stoke-on-Trent, are things looking up for this two-bed house?
0:01:00 > 0:01:04Just check the roof, cos I can't see what kind of state it's in.
0:01:07 > 0:01:12And talking of roofs...you've got this, a London roof terrace.
0:01:12 > 0:01:15It's just fantastic. I love it.
0:01:16 > 0:01:19Want to take your first tentative steps on the property ladder?
0:01:19 > 0:01:22Well, in Hampshire, I've found the perfect place.
0:01:24 > 0:01:27Bizarre.
0:01:27 > 0:01:29All of these properties have been sold at auction.
0:01:29 > 0:01:32We'll find out who bought them and what they paid for them
0:01:32 > 0:01:34when they went under the hammer.
0:01:34 > 0:01:35Your lot, sir. Well done.
0:01:39 > 0:01:42Vauxhall in south-west London has changed massively
0:01:42 > 0:01:44over the past 15 years.
0:01:44 > 0:01:48It used to be an area dominated by offices and factories.
0:01:48 > 0:01:51Now it's a popular, sought-after destination
0:01:51 > 0:01:54with lots of new housing developments, cafes, bars
0:01:54 > 0:01:58and incredible transport links.
0:01:58 > 0:02:00100 yards from the hustle and bustle
0:02:00 > 0:02:03and I'm here to see today's auction lot
0:02:03 > 0:02:05tucked away on this beautiful little square.
0:02:05 > 0:02:09You know, it feels a world away from busy, bustling Vauxhall.
0:02:09 > 0:02:12It really is quite a little haven.
0:02:12 > 0:02:15Now, this is the pleasure garden. Just look in there.
0:02:15 > 0:02:18It's a communal space set up by the residents who live here
0:02:18 > 0:02:22and there's also a gorgeous little cafe just over there.
0:02:22 > 0:02:27It's got a real bohemian vibe to it on this square and, you know,
0:02:27 > 0:02:28I'm loving it here.
0:02:30 > 0:02:33Yes, it really is a sanctuary from fast-paced London life.
0:02:33 > 0:02:37I hope the property is as good as its surroundings.
0:02:37 > 0:02:38And here it is.
0:02:38 > 0:02:43Now, it's detached but I'm afraid it's not the entire building.
0:02:43 > 0:02:45I'm here to see the two top flats.
0:02:45 > 0:02:49Now, the average one-bed flat in this area can command
0:02:49 > 0:02:51as much as 350 grand,
0:02:51 > 0:02:57so I was very excited to hear the guide price on this, just £310,000.
0:02:57 > 0:02:59I'm going to get inside.
0:03:00 > 0:03:05Now, I know £310,000 is a lot of money but for two flats in London,
0:03:05 > 0:03:09there has to be a catch. Can't see what it is on the outside.
0:03:09 > 0:03:13Lovely original sash windows and attractive brickwork bode well.
0:03:13 > 0:03:18One of the first things I'd want to think about is seeking permission
0:03:18 > 0:03:21to scale down this tree. That might not be so straightforward
0:03:21 > 0:03:24as this property sits in a conservation area,
0:03:24 > 0:03:27which might well mean there's a preservation order on the trees.
0:03:30 > 0:03:34Now, this is interesting because the flats are described in the auction
0:03:34 > 0:03:37catalogue as being non-self-contained.
0:03:37 > 0:03:40That means they've not legally been converted.
0:03:40 > 0:03:44So what you're really buying here is one property across two levels.
0:03:44 > 0:03:47What you've got to decide is whether you want to keep it as one
0:03:47 > 0:03:50or take the time and trouble to get planning permission
0:03:50 > 0:03:53to turn it officially into two flats.
0:03:56 > 0:04:00On this floor, you have a lounge and a bedroom with a bathroom leading
0:04:00 > 0:04:02off it, and the kitchen is on the floor below,
0:04:02 > 0:04:05along with another toilet.
0:04:05 > 0:04:07It's all looking a little drab and dingy.
0:04:07 > 0:04:10Let's see if the second flat fares any better.
0:04:12 > 0:04:16The second flat has a kitchen but it's just as tatty as the other one.
0:04:16 > 0:04:19But fear not, when all seems doom and gloom,
0:04:19 > 0:04:21there is one glimmer of hope.
0:04:23 > 0:04:27Permission for conversion for two flats was granted eight years ago
0:04:27 > 0:04:29but that has now lapsed.
0:04:29 > 0:04:32This nugget of information, well, it may give you some sway with
0:04:32 > 0:04:34the planners but, as we know,
0:04:34 > 0:04:37planning restrictions can change from year to year.
0:04:37 > 0:04:42The thing that made them happy eight years ago may not prove popular now.
0:04:42 > 0:04:46So you can't assume you'll get planning permission to turn
0:04:46 > 0:04:51it into two flats but the great thing is, whether it's one or two,
0:04:51 > 0:04:54it's a fantastic space in a great location.
0:04:54 > 0:04:58On the top floor alongside the kitchen, there are two more
0:04:58 > 0:05:03good-sized bedrooms, a very dirty bathroom and a separate loo.
0:05:03 > 0:05:05And if you still aren't quite convinced,
0:05:05 > 0:05:08there's one more set of stairs I haven't tackled yet.
0:05:08 > 0:05:12I wonder where they could possibly lead.
0:05:12 > 0:05:14Well, if you're wowed by all the greenery
0:05:14 > 0:05:16and pretty little spaces outside,
0:05:16 > 0:05:20look, you've got this, a London roof terrace.
0:05:20 > 0:05:22It's just fantastic. I love it.
0:05:22 > 0:05:26Over here, look, you've got Vauxhall Park, a wonderful, big,
0:05:26 > 0:05:31open green space, here, a cracking view of the MI5 building.
0:05:31 > 0:05:35And over here - look, can you see it? Got to go really close.
0:05:35 > 0:05:37The London Eye. Brilliant!
0:05:37 > 0:05:41# Let's go up on the roof... #
0:05:43 > 0:05:46So it's nice to end on a positive.
0:05:46 > 0:05:50The roof garden is this property's crowning glory.
0:05:50 > 0:05:53So with a guide price of 310,000,
0:05:53 > 0:05:55it seems like a lot of property for the money
0:05:55 > 0:05:58but is it worth all the hard work?
0:05:58 > 0:06:01I asked along a local property expert to give his views.
0:06:03 > 0:06:05This property is very versatile.
0:06:05 > 0:06:07You could either use it as one sole property,
0:06:07 > 0:06:09one large flat with the roof terrace,
0:06:09 > 0:06:13or probably would convert quite nicely into two flats,
0:06:13 > 0:06:15maybe a two-bedroom and a one-bedroom
0:06:15 > 0:06:17or possibly even two two-bedroom flats.
0:06:17 > 0:06:22Well, with one-bedroom flats achieving £1,300 per calendar month
0:06:22 > 0:06:28rental in this area, and two-bedroom properties £1,700 per calendar
0:06:28 > 0:06:31month, it seems like a great investment for buy to let.
0:06:31 > 0:06:34But what if they were converted and then sold on?
0:06:34 > 0:06:37It would probably turn out to be a spacious one-bedroom flat
0:06:37 > 0:06:41so you could possibly get up to the ranges of £325,000 to £350,000.
0:06:41 > 0:06:44A two-bedroom flat in this building with a roof terrace,
0:06:44 > 0:06:47you probably would achieve around about, let's say £400,000.
0:06:47 > 0:06:52If it was stripped out and converted to just one large flat,
0:06:52 > 0:06:54how much would it be worth then?
0:06:54 > 0:06:58You could expect to get up to around about £600,000, possibly.
0:06:58 > 0:07:03There is an awful lot of work to do in this confused house.
0:07:03 > 0:07:07But if planning goes your way and you manage to separate these flats,
0:07:07 > 0:07:10the rewards will be high.
0:07:10 > 0:07:12Let's see who wanted this property
0:07:12 > 0:07:15and its beautiful setting as we go to auction.
0:07:18 > 0:07:22Three floors. You've got two non-self-contained flats.
0:07:22 > 0:07:26Start low 300. Not going to go below three.
0:07:26 > 0:07:29300? In the ar... Yeah, 300.
0:07:29 > 0:07:32305. 305.
0:07:32 > 0:07:35310. 315.
0:07:35 > 0:07:39320. 325.
0:07:39 > 0:07:41330?
0:07:41 > 0:07:43- 330.- 330.
0:07:43 > 0:07:49- 331? 332.- 335.- 335.
0:07:49 > 0:07:51336. 337.
0:07:51 > 0:07:55340. 341?
0:07:57 > 0:07:58341.
0:07:58 > 0:08:02- 3...- 345.- 345.
0:08:02 > 0:08:06346. 3... 350.
0:08:06 > 0:08:09351.
0:08:09 > 0:08:13351. Another spot on the right. 351.
0:08:13 > 0:08:17- 352.- 355.- 355.
0:08:17 > 0:08:193...
0:08:19 > 0:08:21360. 365?
0:08:23 > 0:08:26360. Standing up. Anyone else? 360.
0:08:26 > 0:08:29First time, second time,
0:08:29 > 0:08:33third and last time. Have you all done?
0:08:33 > 0:08:34HE BANGS GAVEL Sold 360.
0:08:36 > 0:08:39That one and only bid made by Bill
0:08:39 > 0:08:43secured the two flats for 360,000.
0:08:43 > 0:08:45His wife Kumi seemed rather excited,
0:08:45 > 0:08:47and I think she has every right to be.
0:08:47 > 0:08:51Kumi is a classical pianist while Bill works in IT.
0:08:51 > 0:08:54Property developing is a new sideline for the couple
0:08:54 > 0:08:58with Bill hoping to make this his full-time job in the near future.
0:08:58 > 0:09:01I met them back at the property to find out their plans.
0:09:01 > 0:09:05Congratulations. This really is a gem of a property
0:09:05 > 0:09:06and you got it on auction day.
0:09:06 > 0:09:10So how much had you, in your minds, intended to spend on the day?
0:09:10 > 0:09:16- Well, it was your money. - 400. 400,000 was our budget.
0:09:16 > 0:09:18When the hammer went down, my immediate thought is,
0:09:18 > 0:09:21"Have I missed something on the legals? Have I missed something
0:09:21 > 0:09:22"on the potential value in the end?
0:09:22 > 0:09:24"Or have I missed something on the structure?"
0:09:24 > 0:09:27I'd read the legals about 10 times myself,
0:09:27 > 0:09:30once we decided we would bid, thought I hadn't missed anything.
0:09:30 > 0:09:32But when we got home, the first thing I did
0:09:32 > 0:09:34was papers off to the solicitor
0:09:34 > 0:09:36and then the solicitor phoned me the next day with
0:09:36 > 0:09:39the result of his look at the documents and there isn't a problem.
0:09:39 > 0:09:44A bit of rooting around afterwards revealed there is a reason it didn't
0:09:44 > 0:09:46attract a higher price.
0:09:46 > 0:09:49The house was sold previously at auction only a month ago
0:09:49 > 0:09:52and flipped, so no mortgage was available,
0:09:52 > 0:09:56as most mortgage lenders demand that property has been owned
0:09:56 > 0:09:58for six months before it's sold on.
0:09:58 > 0:10:02Also, the short sale time meant the paperwork hadn't been filed with
0:10:02 > 0:10:05the Land Registry, and that would put some developers off,
0:10:05 > 0:10:09so with just cash buyers able to bid, Kumi and Bill weren't up
0:10:09 > 0:10:14against the stiff competition that this property would usually attract.
0:10:14 > 0:10:18Not only that, this flat was exactly in the area they were looking for.
0:10:18 > 0:10:23I happen to know the area. In fact, a year ago we actually viewed
0:10:23 > 0:10:26one property very close to here to actually buy.
0:10:26 > 0:10:29And it wasn't actually big enough for both of us
0:10:29 > 0:10:34but we looked at the area, we liked it, it's very arty,
0:10:34 > 0:10:38and I happened to remember then that I visited this place,
0:10:38 > 0:10:40this square, 20 years before,
0:10:40 > 0:10:43and I just immediately thought, when we saw the address,
0:10:43 > 0:10:45I thought we should see this place.
0:10:45 > 0:10:49It's a fantastic building but it's just a bit confused on the inside.
0:10:49 > 0:10:54So what are you two going to do to get the most out of it?
0:10:54 > 0:10:57Well, um, the possibility is one property,
0:10:57 > 0:10:59two floors with a roof garden,
0:10:59 > 0:11:03or two flats, so one floor each.
0:11:03 > 0:11:05We haven't decided on that yet.
0:11:05 > 0:11:08We've got to start immediately now with getting electricity
0:11:08 > 0:11:10and water into the place.
0:11:10 > 0:11:13And then we'll do a strip-out, first phase demolition,
0:11:13 > 0:11:17and start obviously building up, plastering, services,
0:11:17 > 0:11:20without still knowing whether it's going to be permission
0:11:20 > 0:11:22for two properties or one property.
0:11:22 > 0:11:25We'll get the result of that within three months, hopefully.
0:11:25 > 0:11:27Kumi wants me to finish it in three months after that.
0:11:27 > 0:11:29I'm telling her six.
0:11:29 > 0:11:33- So nine months in total.- So, come on, roughly how much have you got
0:11:33 > 0:11:37- to spend on this?- 150.- £150,000 to really bring it up to scratch.- Yeah.
0:11:37 > 0:11:41So not only is this property sitting in a beautiful area
0:11:41 > 0:11:45but Kumi and Bill plan a real luxury finish which could entice no
0:11:45 > 0:11:47end of interested renters.
0:11:47 > 0:11:50But once all the hard work is done, I really wouldn't be surprised
0:11:50 > 0:11:55if we return and find these two have fallen under the property's spell.
0:11:57 > 0:12:00Guys, I'm so excited to see the outcome of this property.
0:12:00 > 0:12:03And I've got a cheeky suspicion that I think you might be moving in here.
0:12:03 > 0:12:08- Bill, I can see the twinkle in your eye.- I don't know what to say.
0:12:08 > 0:12:11- Just wait and see.- Wait and see. Good luck with it.
0:12:11 > 0:12:14- So nice to meet you, Kumi. Thank you.- Thank you.
0:12:14 > 0:12:18Something tells me Bill and Kumi are going to end up moving into
0:12:18 > 0:12:20one of these flats. I just know it.
0:12:20 > 0:12:24They are so taken with this square. I can see why.
0:12:24 > 0:12:28But, as ever, everything is subject to planning.
0:12:28 > 0:12:31Will they get the go-ahead for the two flats?
0:12:31 > 0:12:34You can find out what happens later on in the program.
0:12:37 > 0:12:43I'm in the dynamic, sprawling, urban conurbation that is Stoke-on-Trent,
0:12:43 > 0:12:47and yet, look at this, there are some lovely green spaces around.
0:12:47 > 0:12:48This is Birches Head,
0:12:48 > 0:12:51a delightful residential area with great transport links.
0:12:51 > 0:12:55You've got Manchester to the north, you've got Birmingham to the south,
0:12:55 > 0:12:57Derby to the east.
0:12:57 > 0:13:01Oh! Yeah, there's lots going on.
0:13:01 > 0:13:05MUSIC: "A Little Bit of Green" by Elvis Presley
0:13:07 > 0:13:10There's also green space and plenty of activities
0:13:10 > 0:13:14in Stoke-on-Trent's Forest Park, which is right on your doorstep,
0:13:14 > 0:13:18as well as the shops in Hanley town centre, all within easy reach
0:13:18 > 0:13:20from the area known as Birches Head.
0:13:20 > 0:13:22So what else is going on here?
0:13:22 > 0:13:26Well, I'm here to see a very traditional mid terrace
0:13:26 > 0:13:28in this row of similar properties.
0:13:28 > 0:13:32Good, solid housing stock. Make great homes or investment properties.
0:13:32 > 0:13:35This is it. The guide price was £45,000.
0:13:35 > 0:13:40Plus a little porch on the outside. Let's take a look inside.
0:13:41 > 0:13:43I like these Victorian terraces.
0:13:43 > 0:13:47All things considered, they should provide an investment opportunity
0:13:47 > 0:13:49that is as safe as, well, houses.
0:13:55 > 0:13:59Well, you're certainly protected from the elements by a variety of doors.
0:13:59 > 0:14:03You've got this porch thing going on then through to the main door,
0:14:03 > 0:14:05but it doesn't half make getting in a bit of a struggle.
0:14:05 > 0:14:08And squeaks like you wouldn't believe.
0:14:08 > 0:14:11And I just know if this is going to be a running theme of this house,
0:14:11 > 0:14:13because you come into this little corridor
0:14:13 > 0:14:15and there's this stud partition.
0:14:15 > 0:14:19I would've expected to walk straight in from there into the front room.
0:14:19 > 0:14:22And certainly with the addition of that porch, you don't need
0:14:22 > 0:14:28to have this wall here, but it is only a bit of wood and plasterboard,
0:14:28 > 0:14:30so get rid of that, open this up.
0:14:30 > 0:14:33Because at the moment, what could potentially be
0:14:33 > 0:14:36a nice little front room is actually horribly claustrophobic.
0:14:39 > 0:14:42Not only is it light on space, the decor isn't what
0:14:42 > 0:14:46you would expect either - black and white tiles and that parquet floor.
0:14:46 > 0:14:49It's got a bit of a '30s theme going on
0:14:49 > 0:14:53and there's definitely a door theme going on too - here's yet another.
0:14:53 > 0:14:57I've never seen anything like that before. How very strange.
0:14:57 > 0:15:02It's like a semi-cellar. It's not really, is it? How odd.
0:15:02 > 0:15:06Strange things, properties, but through to the rear sitting room.
0:15:06 > 0:15:10Actually, this room at last feels a little bit more open.
0:15:10 > 0:15:13Chance to breathe. Another very interesting fireplace.
0:15:13 > 0:15:16Stairs up to your bedrooms and then, very traditional layout, through
0:15:16 > 0:15:19to the rear of the property where you've got the kitchen.
0:15:19 > 0:15:25Um, well, you know, it could be nice. At the moment, er...
0:15:27 > 0:15:31Why on earth would you do that - paint the ceiling gloss brown?
0:15:31 > 0:15:37Anyway, kitchen, yes, it could be nice, and then through to the loo
0:15:37 > 0:15:42and the bathroom. Just all needs a bit of work.
0:15:42 > 0:15:45Basically, this house looks pretty sound and pretty standard,
0:15:45 > 0:15:50despite the fact that the decor seems to have come from the era that style
0:15:50 > 0:15:54forgot, when brown ceilings were all the rage.
0:15:54 > 0:15:58When was that exactly? Will upstairs be pretty standard too?
0:15:58 > 0:16:01Yep. Two bedrooms.
0:16:01 > 0:16:04# And that's typical... #
0:16:04 > 0:16:09Just as you would expect - two decent-sized bedrooms, no bathroom
0:16:09 > 0:16:11and some tired decor.
0:16:11 > 0:16:14No surprises here, then.
0:16:14 > 0:16:17And talking of typical terraces...
0:16:17 > 0:16:21Well, out the back of the property and what would have originally been
0:16:21 > 0:16:23a yard area of a two-up two-down terrace
0:16:23 > 0:16:28has been filled with probably the most popular and typical
0:16:28 > 0:16:31extension in the country - single storey
0:16:31 > 0:16:34which houses the kitchen and the bathroom.
0:16:34 > 0:16:37Um, yes, it makes perfect sense. This out here, not in bad nick.
0:16:37 > 0:16:40Nice that you've got the alleyway at the back there.
0:16:40 > 0:16:43While you're up there, by the way, just check the roof,
0:16:43 > 0:16:46cos I can't see what kind of state it's in.
0:16:46 > 0:16:48# And that's typical... #
0:16:48 > 0:16:51And an initial look at the roof shows it might need some work,
0:16:51 > 0:16:55so best get someone to look at it.
0:16:55 > 0:16:56# And that's typical... #
0:16:56 > 0:16:59The backyard, like the inside, also needs a bit of sprucing up,
0:16:59 > 0:17:02but I think it's all pretty straightforward.
0:17:02 > 0:17:05If you were to buy this to let, you might keep the layout as is
0:17:05 > 0:17:07and just renovate it.
0:17:07 > 0:17:09If you wanted to make it your home,
0:17:09 > 0:17:11you might think about some layout changes.
0:17:11 > 0:17:14# And that's typical... #
0:17:16 > 0:17:20But what does a local estate agent thing about this two-up two-down?
0:17:22 > 0:17:25The main challenge of this property is to bring it to an up-to-date
0:17:25 > 0:17:29standard which would certainly require new kitchen, new bathroom,
0:17:29 > 0:17:31decor throughout.
0:17:31 > 0:17:34There does seem to be some signs of damp as well,
0:17:34 > 0:17:38so it possibly needs a damp-proof course and possibly a rewire.
0:17:38 > 0:17:42And after all that had been carried out, what could this house,
0:17:42 > 0:17:45that was guided at £40,000, be worth?
0:17:48 > 0:17:53I would anticipate a resale value in the region of £75,000.
0:17:53 > 0:17:56That sounds encouraging. What about rental?
0:17:56 > 0:17:59I would anticipate a rental income in the region
0:17:59 > 0:18:02of £450 per calendar month.
0:18:03 > 0:18:06So not too many surprises with this one.
0:18:06 > 0:18:11A fairly standard terraced house just in need of some sorting out.
0:18:11 > 0:18:14Let's see who fancied it when it went under the hammer.
0:18:16 > 0:18:19Mid terraced house, two bed, popular spot, double glazing,
0:18:19 > 0:18:22two reception rooms. So can we start the bid at 32?
0:18:22 > 0:18:2632 right at the back of the room. £32,000.
0:18:26 > 0:18:29Right at the back of the room. Have we got 34? 34 bid now.
0:18:29 > 0:18:3334. 36? £36,000.
0:18:33 > 0:18:3738? £38,000. I'll go in ones if it helps.
0:18:37 > 0:18:39Can we say 39? At...
0:18:39 > 0:18:4239, new bidder. 39,000.
0:18:42 > 0:18:4740? £40,000. 41?
0:18:47 > 0:18:51£41,000. 42?
0:18:51 > 0:18:55Somebody in the aisle. 42? 42 at the back. 43?
0:18:55 > 0:18:5944. 45. 46.
0:18:59 > 0:19:0147. 48.
0:19:02 > 0:19:06No? 48 still seated. Somebody at the back?
0:19:06 > 0:19:09No. 48 still with you seated. At £48,000.
0:19:09 > 0:19:13Another one anywhere else? If not, selling it at £48,000.
0:19:13 > 0:19:17For the first time at £48,000.
0:19:17 > 0:19:19For the second time. Third and final time.
0:19:19 > 0:19:22Bid seated. No mistake at 48,000...
0:19:22 > 0:19:24You bought it, sir. Well done.
0:19:24 > 0:19:27£48,000 secured the Birches Head terrace,
0:19:27 > 0:19:29which was bought by Nick and Cloge.
0:19:29 > 0:19:32This one has a bit of an international flavour.
0:19:32 > 0:19:38Cloge - that's short for Calogero - is from Sicilian parentage,
0:19:38 > 0:19:41and Nick hails from the American state of Minnesota.
0:19:41 > 0:19:45# All the way from America... #
0:19:45 > 0:19:47I met them at the house to find out
0:19:47 > 0:19:50what drew them to a property in Stoke.
0:19:54 > 0:19:57- Nick, Cloge, great to meet you both. - Nice to meet you.- Nice to meet you.
0:19:57 > 0:20:00- Congratulations.- Thank you.- Tell me why you wanted to buy this place.
0:20:00 > 0:20:04As an investment. We just want to try, you know.
0:20:04 > 0:20:06Nick's always wanted to do something like this.
0:20:06 > 0:20:10I wanted to do it. So we went ahead and bought it.
0:20:10 > 0:20:15- Are you mates or what?- Son-in-law. - Oh, right.- Son-in-law.- Got it.
0:20:15 > 0:20:19And did that come about over a Sunday family gathering or something?
0:20:19 > 0:20:20- Yeah, it did. Yeah. - Yeah, pretty much.
0:20:20 > 0:20:23- Oh, great.- It was kind of more or less me that wanted to do it.
0:20:23 > 0:20:27- He didn't really want to. - Right, but you've drafted him in.
0:20:27 > 0:20:30- Yep, drafted him in. Yep. - Kicking and screaming.- Yeah.
0:20:30 > 0:20:32Cloge has started to build a portfolio
0:20:32 > 0:20:35for some income and for a retirement fund.
0:20:35 > 0:20:40He used to work in a car body repair shop but is now focusing on property.
0:20:40 > 0:20:42With one already in this street under his belt,
0:20:42 > 0:20:45he must know what to expect with these houses.
0:20:45 > 0:20:47- What do you think about it? - It's quite bad.
0:20:47 > 0:20:48HE LAUGHS
0:20:48 > 0:20:51- OK.- It needs the work. - It needs work, yeah. Yeah.
0:20:51 > 0:20:54New kitchen, new bathroom. Central heating will need doing.
0:20:54 > 0:20:56Uh, maybe some knocking down of walls.
0:20:56 > 0:20:59Yeah, because it feels a bit claustrophobic in places, doesn't it?
0:20:59 > 0:21:02- Yeah, definitely.- It just needs opening up a little bit.
0:21:02 > 0:21:03So who does the work, then?
0:21:03 > 0:21:06It'll be him. I'm more or less just kind of the apprentice.
0:21:06 > 0:21:10- So have you got a builder's type DIY background?- No.
0:21:10 > 0:21:13DIY background but obviously for the major stuff -
0:21:13 > 0:21:16electrics, damp course, anything like that - I'll get a tradesman in.
0:21:16 > 0:21:18The central heating I'll get people in.
0:21:18 > 0:21:20Checking the electrics I'll get people in to do that.
0:21:20 > 0:21:22With the rest, I'll be knocking down, the painting,
0:21:22 > 0:21:26the decorating and bits and pieces, you know, I can do that myself.
0:21:26 > 0:21:29- Do you both have jobs when you're not doing this?- I do. I do.
0:21:29 > 0:21:35- He's semi-retired.- Right. What do you do?- I work for a local bookmaker.
0:21:35 > 0:21:38So are you betting on this being a success, are you?
0:21:38 > 0:21:41- It should be, yeah.- Give me some odds on it being successful.
0:21:41 > 0:21:45Oh, it'll be, you know, one to 50 for sure. It'll be successful.
0:21:45 > 0:21:48MUSIC: "You Better You Bet" by the Who
0:21:48 > 0:21:52Well, with that kind of confidence, I'll wager they must be raring to go.
0:21:52 > 0:21:55And when's the start date for Cloge and Nick?
0:21:55 > 0:21:57- Tomorrow.- Tomorrow? - Yeah, yeah. Tomorrow.- Wow.
0:21:57 > 0:22:01- What's the first thing you're going to do?- Get these nice carpets up.
0:22:01 > 0:22:03Right. What's the budget for the work?
0:22:03 > 0:22:05- 10,000 to 12,000. - Right. And timescale?
0:22:05 > 0:22:08- Three to four months. Probably the four months.- Right.
0:22:08 > 0:22:11- Well, all interesting stuff. Congratulations.- Thank you.
0:22:11 > 0:22:13- Good luck to you both. - Thanks very much.
0:22:13 > 0:22:17- Look forward to seeing how you get on.- Thank you very much. Thank you.
0:22:17 > 0:22:20So what odds would you give Nick and Cloge
0:22:20 > 0:22:22on making a success of this place?
0:22:22 > 0:22:24Oh, I think fairly good ones.
0:22:24 > 0:22:26Find out how they get on later in the show.
0:22:28 > 0:22:30Coming up, we find out
0:22:30 > 0:22:34why Amanda is so excited about her property purchase.
0:22:34 > 0:22:36This is the thing that got me.
0:22:36 > 0:22:37- This?!- This.
0:22:39 > 0:22:40In Stoke-on-Trent,
0:22:40 > 0:22:43we see how a little encouragement turned this house into a winner.
0:22:43 > 0:22:45I had to come down and just crack the whip
0:22:45 > 0:22:48when he wasn't doing what he was meant to be doing.
0:22:51 > 0:22:52- LUCY:- But first we're off to
0:22:52 > 0:22:56the south-west London area of Vauxhall
0:22:56 > 0:22:59where we first saw a rather intriguing auction lot.
0:23:01 > 0:23:04Described as two non-self-contained flats,
0:23:04 > 0:23:07it was a number of higgledy-piggledy rooms
0:23:07 > 0:23:10spread over the first, second and third floors
0:23:10 > 0:23:14of a lovely old brick-fronted building.
0:23:14 > 0:23:18It did have two kitchens, a bathroom and several toilets
0:23:18 > 0:23:21and the top flat even had a roof terrace.
0:23:21 > 0:23:24But it was completely dilapidated throughout.
0:23:24 > 0:23:29And in terms of layout flow, well, forget it, there wasn't any.
0:23:29 > 0:23:35And it was bought at auction for 360,000 by Bill and his wife Kumi
0:23:35 > 0:23:37as part of their property development sideline.
0:23:39 > 0:23:44It's a fantastic building but it's just a bit confused on the inside.
0:23:44 > 0:23:49So what are you two going to do to get the most out of it?
0:23:49 > 0:23:51Well, the possibility is
0:23:51 > 0:23:54one property, two floors, with the roof garden,
0:23:54 > 0:23:57or two flats, so one floor each.
0:23:57 > 0:24:00We haven't decided on that yet.
0:24:00 > 0:24:02Despite having no definite plans,
0:24:02 > 0:24:05they hope to complete the full renovation in nine months
0:24:05 > 0:24:09and on a budget of £150,000.
0:24:11 > 0:24:15Now, over two years and three months later,
0:24:15 > 0:24:20we're back with Bill and Kumi to see what they ended up with.
0:24:22 > 0:24:28Wow. Wow! They've certainly upped the whole building's kerb appeal.
0:24:29 > 0:24:31So let's go through the communal entrance
0:24:31 > 0:24:34and see what they've done upstairs.
0:24:34 > 0:24:38Well, we got planning permission to make it official - two flats,
0:24:38 > 0:24:40which is really what we wanted to do,
0:24:40 > 0:24:43which obviously gives a better return on the project.
0:24:44 > 0:24:48So now on the first floor there's a one-bedroom self-contained flat.
0:24:54 > 0:24:57Well, that is impressive,
0:24:57 > 0:25:01with fantastic period features and high-quality flooring.
0:25:01 > 0:25:05But in the corner of the room, there are steps. Where are they going to?
0:25:09 > 0:25:13Now, that's an amazing kitchen space.
0:25:14 > 0:25:16This is the first-floor kitchen,
0:25:16 > 0:25:19coming from the first-floor lounge area.
0:25:19 > 0:25:24And this is quite a big kitchen for a one-bedroom flat.
0:25:24 > 0:25:28Because I love cooking, I really like space here.
0:25:32 > 0:25:35There's a small cloakroom off Kumi's spacious kitchen
0:25:35 > 0:25:39and then onto a fab bedroom.
0:25:45 > 0:25:48There's an impressive ensuite bathroom.
0:25:48 > 0:25:50And it's up a flight of stairs to what is now
0:25:50 > 0:25:53the two-bedroom flat on the upper floor.
0:25:55 > 0:25:58Remember that rather sorry rundown living area?
0:25:59 > 0:26:02Well, just take a look at it now.
0:26:10 > 0:26:14Well, this is the living area for the top flat.
0:26:14 > 0:26:16And I think the most obvious thing we've done here
0:26:16 > 0:26:19is we've taken the ceiling out and we've got a vaulted ceiling now.
0:26:19 > 0:26:22And with the kitchen over here, we've got granite work surface
0:26:22 > 0:26:25and we've actually managed to build in a little breakfast bar as well.
0:26:28 > 0:26:31To go with that fabulous kitchen-diner,
0:26:31 > 0:26:34there's the two bedrooms and both are ensuite.
0:26:39 > 0:26:42There's even a storage room in the loft space.
0:26:42 > 0:26:45Kumi and Bill have really eked out every inch of this building,
0:26:45 > 0:26:47and I just love it.
0:26:47 > 0:26:52But why has it taken over a year and a half longer than planned?
0:26:54 > 0:26:56I think the main problem is that
0:26:56 > 0:26:57it took us a year and three-quarters
0:26:57 > 0:26:59to actually get power into the building.
0:26:59 > 0:27:02And I have to say, that wasn't the fault of the utility companies,
0:27:02 > 0:27:04as one might imagine.
0:27:04 > 0:27:06There were other reasons for that.
0:27:06 > 0:27:10But it's been seven, eight months ago now we got the power
0:27:10 > 0:27:13and we've been steaming on since then.
0:27:14 > 0:27:17It wasn't just the power that caused some problems.
0:27:17 > 0:27:19They were also delayed by planning issues
0:27:19 > 0:27:24and whether the roof terrace was a terrace or just a roof.
0:27:25 > 0:27:27Having finally resolved all the issues,
0:27:27 > 0:27:29they've ended up with two great properties.
0:27:29 > 0:27:32So what's the plan now?
0:27:32 > 0:27:35Originally the idea was about investment.
0:27:35 > 0:27:38But since we started doing this project,
0:27:38 > 0:27:42we really started falling in love with the square, the house.
0:27:42 > 0:27:47So we would like to move in into one of the flats.
0:27:47 > 0:27:51But we have so much stuff. I have a grand piano.
0:27:51 > 0:27:55So one of the flats would not be big enough for us for long-term.
0:27:55 > 0:27:59So what we would like to do is, having moved here,
0:27:59 > 0:28:01we look for another property in the square
0:28:01 > 0:28:04and when there is a nice house, we move in there.
0:28:05 > 0:28:09Yes, I always thought they just might be tempted.
0:28:09 > 0:28:13While Kumi might not feel there's enough space for a grand piano,
0:28:13 > 0:28:16I would guess this conversion has cost a grand or two.
0:28:16 > 0:28:19So does Bill know what the total bill is?
0:28:20 > 0:28:22I know exactly how much we spent, down to the penny,
0:28:22 > 0:28:25because I keep a log of it.
0:28:25 > 0:28:30And it's, uh, by the time we've paid the bills, it'll be 300,000.
0:28:30 > 0:28:36£300,000 is a doubling of their original £150,000 budget.
0:28:36 > 0:28:39And with the £360,000 purchase price,
0:28:39 > 0:28:44their total investment without taxes and fees is now 660,000.
0:28:44 > 0:28:47Has it been worth going for that high-end finish?
0:28:47 > 0:28:50What do two local estate agents think?
0:28:51 > 0:28:55First impressions are of one of high-quality finish,
0:28:55 > 0:28:59great design and just the ideal property for a first-time buyer.
0:28:59 > 0:29:02Beautiful. The finish is absolutely fantastic.
0:29:02 > 0:29:03Floors are great.
0:29:03 > 0:29:06The kitchen quality, bathroom quality, absolutely superb.
0:29:06 > 0:29:09This top-floor flat, which is split-level,
0:29:09 > 0:29:11offers two good double bedrooms.
0:29:11 > 0:29:14It has a great finish, great design and I can see it's ideal.
0:29:14 > 0:29:17With that roof terrace, it's just going to be what everybody really wants.
0:29:17 > 0:29:19With the upstairs flat, the vaulted ceilings
0:29:19 > 0:29:22and the open-plan kitchen reception just give it such a lot of depth.
0:29:22 > 0:29:24Just from a volume point of view
0:29:24 > 0:29:27I think it makes the flat incredibly interesting.
0:29:27 > 0:29:31Well, the two flats have certainly wowed the agents.
0:29:31 > 0:29:34But will that be reflected in the resale value of the properties
0:29:34 > 0:29:38Bill and Kumi have invested that £660,000 into?
0:29:38 > 0:29:41Well, for this flat, from a value point of view,
0:29:41 > 0:29:45I'd be suggesting putting it onto the market at about £450,000.
0:29:45 > 0:29:49I'd say you would push it to go onto the market at £450,000.
0:29:49 > 0:29:53And what about the upper two-bed flat?
0:29:53 > 0:29:56You'd probably have to put that property on the market for £650,000.
0:29:56 > 0:30:00The two-bed flat upstairs with that roof terrace is exceptional
0:30:00 > 0:30:02and I'd sort of stick my neck out
0:30:02 > 0:30:07and suggest £650,000-£660,000 in the asking price on that one.
0:30:08 > 0:30:11Well, those figures could potentially see
0:30:11 > 0:30:15a combined value for the two flats of over a million pounds!
0:30:15 > 0:30:20That's a pre-tax profit of up to £450,000. Wow!
0:30:20 > 0:30:24I think the flats are gorgeous and I'm so impressed.
0:30:24 > 0:30:25What do they think about that?
0:30:27 > 0:30:31- That's great, if we can make it. Yes. - That's good.- Good news.
0:30:31 > 0:30:34Yeah, I think we'll sleep well tonight.
0:30:34 > 0:30:39Yes, no wonder. I think I'd sleep well with those potential returns.
0:30:39 > 0:30:43But this project consumed them for nearly two and a half years
0:30:43 > 0:30:45and clearly financially they've benefited,
0:30:45 > 0:30:48but are they still pleased they did it?
0:30:49 > 0:30:51- We're both very happy with it, at the moment.- Yeah.
0:30:51 > 0:30:53Yes, I just want to make sure that
0:30:53 > 0:30:55one of the flats can take a grand piano in.
0:30:55 > 0:30:56SHE LAUGHS
0:31:01 > 0:31:02MARTIN: Today in my hunt for property,
0:31:02 > 0:31:07I'm casting my net into Hampshire and the market town of Fareham,
0:31:07 > 0:31:11situated between the cities of Southampton and Portsmouth.
0:31:11 > 0:31:14Well, the property I'm here to see is one of the types I really love -
0:31:14 > 0:31:16it's mixed use.
0:31:16 > 0:31:19Commercial unit downstairs, flat above with some storage at the back.
0:31:19 > 0:31:23Guide price was £100,000-£120,000.
0:31:23 > 0:31:26Apparently it was formerly a fishmonger's.
0:31:26 > 0:31:29So let's take a look inside, just for the 'halibut'.
0:31:29 > 0:31:32MUSIC: "Fisherman's Blues" by the Waterboys
0:31:32 > 0:31:34So, what's the place like? Wow.
0:31:34 > 0:31:35HE SNIFFS
0:31:35 > 0:31:38Thank your lucky stars it's not smelly-vision
0:31:38 > 0:31:41because it smells like a fish shop.
0:31:41 > 0:31:42Eugh. Wow.
0:31:42 > 0:31:44But that's exactly what we've got.
0:31:44 > 0:31:49Um, one main sort of commercial area here. All the old units.
0:31:49 > 0:31:53So you could imagine the ice and all the fish displayed nicely here.
0:31:53 > 0:31:57It looks to me like it hasn't had a lot of renovation worked on it.
0:31:57 > 0:32:00Shall I open the fridge? Should I open the fridge?
0:32:00 > 0:32:02No, definitely not!
0:32:02 > 0:32:03But talking about fridges,
0:32:03 > 0:32:05one thing you have got here
0:32:05 > 0:32:09is this massive industrial fridge or freezer perhaps.
0:32:09 > 0:32:11Now, if you were to buy that,
0:32:11 > 0:32:13it'd probably cost you quite a lot of money.
0:32:13 > 0:32:16So if someone taking this on and running it as some kind of
0:32:16 > 0:32:19food preparation type place, that's a real bonus.
0:32:19 > 0:32:21Because you've got the front area there,
0:32:21 > 0:32:24into the back here which I imagine is where all the fish was prepared.
0:32:24 > 0:32:26You've got a toilet at the back there
0:32:26 > 0:32:28and then through out into the rear yard,
0:32:28 > 0:32:31which is where I think I'll go pretty quickly.
0:32:31 > 0:32:32HE LAUGHS
0:32:32 > 0:32:34HE COUGHS
0:32:34 > 0:32:37MUSIC: "Take My Breath Away" by Berlin
0:32:42 > 0:32:49Now, I know that this lot included a flat above the shop,
0:32:49 > 0:32:52but I've seen everything there is in the shop...
0:32:54 > 0:32:56..and I've checked out the back now
0:32:56 > 0:33:00and I can't see any way of getting up there.
0:33:01 > 0:33:03Other than that.
0:33:04 > 0:33:06That can't be it, can it?
0:33:07 > 0:33:09I think it is, you know.
0:33:09 > 0:33:10HE CHUCKLES
0:33:10 > 0:33:12I've been up some rickety staircases in my time,
0:33:12 > 0:33:16but I think no staircase at all is a first.
0:33:16 > 0:33:17Bizarre!
0:33:17 > 0:33:18HE LAUGHS
0:33:18 > 0:33:20Obviously, that's something to be addressed.
0:33:20 > 0:33:22Ooh!
0:33:24 > 0:33:28I haven't got a clue what we're going to find up here. But, whoa!
0:33:28 > 0:33:29How amazing!
0:33:29 > 0:33:32It's actually a really nice flat
0:33:32 > 0:33:35and it looks like it hasn't been lived in for a very long time.
0:33:35 > 0:33:38But look at the floorboards. Imagine those stripped back.
0:33:38 > 0:33:41Nice sort of space there.
0:33:41 > 0:33:42Through to this little middle area there
0:33:42 > 0:33:47with some kind of swirly stairs going up to another floor there.
0:33:47 > 0:33:51Then through to, well, I guess, the front of the property.
0:33:51 > 0:33:54I'm actually above the main shop unit here.
0:33:54 > 0:33:57A really nice-sized space.
0:33:57 > 0:33:58It's got double glazing,
0:33:58 > 0:34:01so it's obviously had some kind of renovation work done
0:34:01 > 0:34:02in the not-too-distant past.
0:34:02 > 0:34:08And I can't see any indication of where a staircase or anything was.
0:34:08 > 0:34:11So a bit of a mystery, but what a lovely space!
0:34:11 > 0:34:15MUSIC: "It's A Mystery" by Toyah
0:34:21 > 0:34:24It's no wonder that the flat hasn't been used for a while -
0:34:24 > 0:34:25no-one could get to it.
0:34:25 > 0:34:27But what a potential bonus.
0:34:27 > 0:34:30Building regs will have something to say about the stairs
0:34:30 > 0:34:33and the two bedrooms will need a fair amount of work
0:34:33 > 0:34:35before they meet current fire regulations
0:34:35 > 0:34:37and can be deemed living space,
0:34:37 > 0:34:41but it wouldn't be too tricky to put in exterior stairs
0:34:41 > 0:34:43at the back up to the flat.
0:34:43 > 0:34:47There's also a side entrance to this courtyard area from the adjoining road,
0:34:47 > 0:34:52so this could make a pretty decent self-contained flat.
0:34:52 > 0:34:55And, if that wasn't enough...
0:34:55 > 0:34:57Well, out the back, you've got this little courtyard area
0:34:57 > 0:35:00and then something which is described in the auction catalogue
0:35:00 > 0:35:01as a storeroom,
0:35:01 > 0:35:05which could be anything from a little shed to, you know, a whatever.
0:35:05 > 0:35:07But, no, it's this place!
0:35:07 > 0:35:11Absolutely fantastic space.
0:35:11 > 0:35:17So straightaway I'm thinking this is a little project in its own right.
0:35:17 > 0:35:20It could well be a development, a house, perhaps.
0:35:20 > 0:35:22It's all going to come down to access.
0:35:22 > 0:35:25There's a little passageway from the courtyard.
0:35:25 > 0:35:27You might be able to use that.
0:35:27 > 0:35:30You'd definitely have to have that checked out on the plans first, though.
0:35:30 > 0:35:33Maybe there's some way you could put your car at that end or whatever.
0:35:33 > 0:35:35It needs a bit of investigation.
0:35:35 > 0:35:37But if you could get that planning permission
0:35:37 > 0:35:39and get a building plot here - wow!
0:35:39 > 0:35:44MUSIC: "Think About It" by Otis Redding
0:35:44 > 0:35:47Mmm, really something to think about.
0:35:47 > 0:35:50It might not be much more than an old garage or a shed,
0:35:50 > 0:35:52but the fact that it's here
0:35:52 > 0:35:55may mean planning might get past
0:35:55 > 0:35:57to put some kind of dwelling in its place.
0:35:57 > 0:35:59And with the flat and shop unit,
0:35:59 > 0:36:02well, this lot is looking fantastic.
0:36:05 > 0:36:09But what does the auctioneer who sold it think about what's on offer here?
0:36:09 > 0:36:13The property's been in use as a fishmonger's.
0:36:13 > 0:36:15Very well known, locally.
0:36:15 > 0:36:17Obviously it's ideal for that sort of purpose,
0:36:17 > 0:36:21but it would need some improvements, I think, for other uses.
0:36:21 > 0:36:24On the upstairs, we've got the former living accommodation
0:36:24 > 0:36:27which previous owners and tenants have used
0:36:27 > 0:36:29but that hasn't been in use, I gather, for around 30 years,
0:36:29 > 0:36:32since the internal staircase was removed.
0:36:32 > 0:36:34Hmm. Well, let's talk numbers.
0:36:34 > 0:36:37Could a mixed development bring in a decent return
0:36:37 > 0:36:41on a lot that was guided at 100,000-120,000?
0:36:43 > 0:36:46The resale value for the whole package is to a large degree,
0:36:46 > 0:36:47I think, going to depend on
0:36:47 > 0:36:49what happens downstairs in terms of the tenant.
0:36:49 > 0:36:52Vacant commercial is very, very difficult to sell at the moment.
0:36:52 > 0:36:56So with a new tenant in paying somewhere in the region of £1000 to £1200 per calendar month,
0:36:56 > 0:36:58and a tenant in upstairs as well,
0:36:58 > 0:37:00then hopefully once all the refurbishment's been done,
0:37:00 > 0:37:02I would expect the property to have a resale value
0:37:02 > 0:37:05somewhere in the region of £180,000-£200,000.
0:37:05 > 0:37:09The flat and shop unit alone could be a viable investment.
0:37:09 > 0:37:13But of course, there's also the storage area out back.
0:37:13 > 0:37:16If this could be developed, what could that be worth?
0:37:16 > 0:37:19As far as resale value's concerned,
0:37:19 > 0:37:22if someone were able to squeeze a small two-bedroom new style unit
0:37:22 > 0:37:24into the back of the plot,
0:37:24 > 0:37:26realistically you could be looking at resale value
0:37:26 > 0:37:29somewhere in the region of £140,000-£150,000.
0:37:30 > 0:37:32So get planning for a development here
0:37:32 > 0:37:35and this really could be catch of the day.
0:37:35 > 0:37:37Well, it's always sad
0:37:37 > 0:37:41when a well-established family business like this was closes
0:37:41 > 0:37:44but that has happened now and it's time to look to the future.
0:37:44 > 0:37:48And this 'cod' be a really good investment
0:37:48 > 0:37:52and I'm sure someone bought it when it went under the hammer.
0:37:54 > 0:37:58And our next lot this morning is Lot 28.
0:37:58 > 0:38:03It's the town centre shop and upper parts in Fareham. Someone start me.
0:38:03 > 0:38:05Middle of the guide. 110 to start me. 110, I should think so.
0:38:05 > 0:38:09110 I have. And 12 I'm looking for. 110 I have. And 12, may I say...
0:38:09 > 0:38:1612, thank you. And 14. 14 and 16, sir. 16. 18. Make it 20, sir.
0:38:16 > 0:38:1920 and a fresh place from you, madam. Thank you. Two at the back?
0:38:19 > 0:38:22120 I have and two I'm looking for. And two I've got. And four, madam?
0:38:22 > 0:38:24Four. And six?
0:38:24 > 0:38:30And six. And eight? And eight. And 130? 130. And two? And two.
0:38:30 > 0:38:34And four? Split the difference with you. 133. 133. And four, madam?
0:38:34 > 0:38:37And four. And five? And five?
0:38:37 > 0:38:39134, I have, then. Lady stood at the back.
0:38:39 > 0:38:41It's with you, madam, at 134,000.
0:38:41 > 0:38:43If you're all done, then, ladies and gentlemen, at 134?
0:38:43 > 0:38:46I'll be selling at 134, then, for the first time, if you're all out.
0:38:46 > 0:38:48134 for the second time.
0:38:48 > 0:38:50134, third and final time.
0:38:50 > 0:38:53It's your bid, madam. Your number, please? K713.
0:38:56 > 0:39:00So, for 134,000, the Fareham shop unit
0:39:00 > 0:39:04with its flat and storage area were bought by Amanda.
0:39:04 > 0:39:07Amanda is a professional singer
0:39:07 > 0:39:10and is just starting to build up a property portfolio.
0:39:10 > 0:39:12This is her second property purchase.
0:39:12 > 0:39:16MUSIC: "I Love To Sing The Songs I Sing" by Barry White
0:39:17 > 0:39:18# The songs
0:39:18 > 0:39:20# The songs I sing... #
0:39:20 > 0:39:23- Amanda, great to meet you.- Hello.
0:39:23 > 0:39:24- Congratulations.- Thank you.
0:39:24 > 0:39:26So why do you want to buy this place?
0:39:26 > 0:39:29Well, if you look around, you see the potential, really,
0:39:29 > 0:39:30of the whole building.
0:39:30 > 0:39:34Um, there's obviously a commercial unit,
0:39:34 > 0:39:37um, which I've already got a tenant for at the moment.
0:39:37 > 0:39:39- You have?- Yes, already.- Oh, wow.
0:39:39 > 0:39:43So that's sort of quite good to get the tenant,
0:39:43 > 0:39:47um, and the flat upstairs obviously is going to be refurbed.
0:39:47 > 0:39:49There's nothing in there at the moment cos it hasn't been
0:39:49 > 0:39:53used for over 30 years, but this was the thing that got me.
0:39:53 > 0:39:57- This?- This.- Why this? - Because I could see the potential
0:39:57 > 0:40:00in planning something for this place.
0:40:00 > 0:40:04It's an empty store, but it's a very large empty store
0:40:04 > 0:40:07and I'm hoping to get planning to actually build another property
0:40:07 > 0:40:09- here as well, so... - Oh, wow.- Yeah.
0:40:09 > 0:40:13Amanda's partner, Richard, is a builder and so it is with his help
0:40:13 > 0:40:15and encouragement
0:40:15 > 0:40:20that she can take on this fairly complex and multifaceted development.
0:40:20 > 0:40:23Having already done one other refurbishment, she's no rookie,
0:40:23 > 0:40:25but that was a three-bedroom house,
0:40:25 > 0:40:28somewhat different from what she's got here.
0:40:28 > 0:40:31- The residential flat...- Yeah. - What are you going to do about that?
0:40:31 > 0:40:34Well, that's going to be converted into a two-bed apartment,
0:40:34 > 0:40:36a two-bed flat.
0:40:36 > 0:40:39There are two loft rooms which are fairly small
0:40:39 > 0:40:41and restricted headroom.
0:40:41 > 0:40:46Obviously with building regulations, you've got to have it fireproofed.
0:40:46 > 0:40:49Really, it's, you know, it's going to be lovely up there.
0:40:49 > 0:40:52There's nothing up there at the moment, no bathroom, no kitchen.
0:40:52 > 0:40:54I've got to get the electric up there,
0:40:54 > 0:40:57got to get the water up there, so that's the next step.
0:40:57 > 0:41:00- Wow, quite a challenge.- Yes.- But a nice little flat when it's done.- Yes.
0:41:00 > 0:41:02And will the idea be to sell that or to rent it out?
0:41:02 > 0:41:05- To rent it out, yeah. - Let's move onto the back, then.- Yeah.
0:41:05 > 0:41:08- This area here.- Yeah. - Tell me what your ideal would be.
0:41:08 > 0:41:13Ideal situation is if we can either have a two-bed or bring it up even
0:41:13 > 0:41:16higher, because it's quite high as well, so...
0:41:16 > 0:41:20- Single unit house? - Just a two-bed house, yeah, yeah.
0:41:20 > 0:41:23And will the idea be for you to actually build it or sell
0:41:23 > 0:41:26it as a project for somebody with planning permission?
0:41:26 > 0:41:28- No, no, we're going to build it. - Right.
0:41:28 > 0:41:30So, I'm selfish, I want to do everything.
0:41:30 > 0:41:31SHE LAUGHS
0:41:31 > 0:41:36So from the refurbishment of the shop to complete renovation of the flat
0:41:36 > 0:41:40and then potentially a new build, Amanda will be involved in a complete
0:41:40 > 0:41:45gamut of property developing, making this some learning experience.
0:41:46 > 0:41:49- What about budget, then? Just do it sort of bit by bit.- Yeah.
0:41:49 > 0:41:51What are you going to do to the shop?
0:41:51 > 0:41:55Well, because the tenant is interested in moving fairly quickly
0:41:55 > 0:41:58because they don't want to lose the trade that the other person
0:41:58 > 0:42:01obviously had before, it will be up to them,
0:42:01 > 0:42:05but obviously we've got to do the building regulation sort of work,
0:42:05 > 0:42:09you know, with the fireproofing the ceiling and the electrics, so...
0:42:09 > 0:42:11So the budget for that little bit is what?
0:42:11 > 0:42:14Well, we've looked at it as a whole, really,
0:42:14 > 0:42:17- as a flat and the shop together combined.- OK.
0:42:17 > 0:42:23- And we were looking at 20,000. - So the timescale for that bit?
0:42:23 > 0:42:27Because the tenant is going to move in and renovate the shop how
0:42:27 > 0:42:31he wants it, it's left us free to do the flat,
0:42:31 > 0:42:35- so we're looking at three months... - OK.- ..to do the flat, so...
0:42:35 > 0:42:38Let's move on to the rear of the property here and this bit.
0:42:38 > 0:42:41Obviously a bit...little bit more out there,
0:42:41 > 0:42:44but what's the budget for the work here?
0:42:44 > 0:42:46- We haven't calculated the budget for this yet.- Oh.
0:42:46 > 0:42:49I mean, we've looked around, but obviously, um, you know,
0:42:49 > 0:42:52we haven't actually calculated an actual budget yet.
0:42:52 > 0:42:55So what's the timescale for getting this sorted?
0:42:55 > 0:42:57I'm looking, well, at least within a year,
0:42:57 > 0:42:59- so, obviously to get it all done. - OK, wow.
0:42:59 > 0:43:02So then for you, once you've done this lot, is it on to more things?
0:43:02 > 0:43:06- Yes. I have got a five-year plan. - A five-year plan.
0:43:06 > 0:43:09What's the goal at the end of the five years?
0:43:09 > 0:43:16When, the market's right, obviously, sell everything.
0:43:16 > 0:43:19- Well, congratulations.- Thank you. - It's all very exciting.- It is.
0:43:19 > 0:43:22- We look forward to seeing how you get on.- Thank you.- Lovely to meet you.
0:43:24 > 0:43:27Well, I think Amanda's done really well with this place.
0:43:27 > 0:43:29I like mixed use developments,
0:43:29 > 0:43:34and with the option to potentially turn this place into a building plot
0:43:34 > 0:43:37and then a house which she can rent out as well, yeah,
0:43:37 > 0:43:40she's well set on her five-year plan.
0:43:40 > 0:43:42You can find out how she gets on later in the show.
0:43:46 > 0:43:49Well, making the right design decisions when it comes to doing up
0:43:49 > 0:43:52a property isn't just about choosing the paint colour.
0:43:52 > 0:43:55It can actually seriously affect your profits.
0:43:55 > 0:43:59Transforming your ideas into a reality can be a thrill,
0:43:59 > 0:44:01but did our buyers get it right?
0:44:01 > 0:44:03Let's go back and find out.
0:44:05 > 0:44:08It was in Stoke-on-Trent in Staffordshire where
0:44:08 > 0:44:11we first saw a two-bedroom mid-terrace house.
0:44:12 > 0:44:16And though there was less than an ideal downstairs bathroom,
0:44:16 > 0:44:20the two bedrooms really didn't lend themselves to any layout changes,
0:44:20 > 0:44:24so in essence, the place just needed a full refurbishment -
0:44:24 > 0:44:29new central heating, new bathroom, new kitchen, new carpets
0:44:29 > 0:44:31and decoration throughout.
0:44:32 > 0:44:36That suited Cloge and his American son-in-law, Nick.
0:44:36 > 0:44:39Tell me why you wanted to buy this place?
0:44:39 > 0:44:42Um, as an investment. We just want to try, you know.
0:44:42 > 0:44:46Nick's always wanted to do something like this, I've wanted to do it,
0:44:46 > 0:44:49so we're - we went ahead and bought it.
0:44:49 > 0:44:52And did that come about over a Sunday family gathering or something?
0:44:52 > 0:44:54- Yeah, it did.- Yeah, yeah, pretty much.
0:44:54 > 0:44:57# Well, I talk about it Talk about it
0:44:57 > 0:44:58# Talk about it Talk about it... #
0:44:58 > 0:45:00Well, they say talk is cheap,
0:45:00 > 0:45:05but in this case, their little chat cost Cloge and Nick £48,000 to buy
0:45:05 > 0:45:08the house at auction, and then there was going to be
0:45:08 > 0:45:11an additional £10,000 to £12,000 to do the refurbishment.
0:45:11 > 0:45:15The plan was to complete the work in three to four months,
0:45:15 > 0:45:17with Cloge doing most of the work himself,
0:45:17 > 0:45:20while rookie Nick helped out where he could.
0:45:24 > 0:45:29And now, five and a half months later, we're back with Cloge, Nick
0:45:29 > 0:45:32and Nick's young son, Phoenix, to check on progress.
0:45:35 > 0:45:40Well, no real changes outside, but it was the inside that needed them
0:45:40 > 0:45:42to roll up their sleeves and crack on.
0:45:45 > 0:45:46Hey, and talk about changes.
0:45:46 > 0:45:50Removing the hallway has really opened up the front room.
0:45:52 > 0:45:55And the rear reception room's not bad either.
0:45:55 > 0:45:58But what about that all-important kitchen?
0:46:03 > 0:46:05And bathroom?
0:46:09 > 0:46:10Great job, lads.
0:46:10 > 0:46:14The two upstairs bedrooms have been spruced up and are ready to go.
0:46:16 > 0:46:19So, how has it been? Come on, Nick and Cloge, talk to us.
0:46:19 > 0:46:22What was first on the agenda?
0:46:23 > 0:46:26We spent...we must have spent about a month just cleaning everything out.
0:46:26 > 0:46:29We didn't order a skip straightaway, we just got some bags,
0:46:29 > 0:46:32- some rubble bags, and we put all the rubbish in the rubble bags, didn't we?- Yeah.
0:46:32 > 0:46:35And we put them outside, so we got about 50, 60 rubble bags outside.
0:46:35 > 0:46:38Then we ordered the skip and went to pick up the rubble bags
0:46:38 > 0:46:41and didn't realise they were biodegradable and we couldn't lift
0:46:41 > 0:46:44- nothing up, so it was like double the job, weren't it?- That was, yeah.
0:46:44 > 0:46:46That was a bit of a laugh, but apart from that,
0:46:46 > 0:46:48everything else has gone pretty OK.
0:46:48 > 0:46:49HE LAUGHS
0:46:49 > 0:46:53Bit of a laugh? Yeah. That sounds like bags of fun.
0:46:53 > 0:46:57But I think they've done a top job, particularly in the kitchen
0:46:57 > 0:46:58and in the bathroom.
0:46:58 > 0:47:00Well, the bathroom and the kitchen,
0:47:00 > 0:47:02it was actually all designed by my wife.
0:47:02 > 0:47:04What she did is she drew it down and says,
0:47:04 > 0:47:07"I want you to do it this way," and I have to do exactly what
0:47:07 > 0:47:10she tells me to do, because inevitably I'll get it wrong.
0:47:10 > 0:47:14So, yeah, Frankie, that's my wife, yeah, she designed it all, you know,
0:47:14 > 0:47:16the tiles, the kitchen, the layout, everything.
0:47:16 > 0:47:21Well, in that case, it's been a very successful collaboration.
0:47:21 > 0:47:24So where was Nick's role in all of this?
0:47:24 > 0:47:27- Let's do it.- Just tilt it, hey?
0:47:27 > 0:47:29I tried to get him to paint, but he wouldn't do any top coat.
0:47:29 > 0:47:32- All he would do is undercoat. He would not, would you?- No.
0:47:32 > 0:47:34Wouldn't do no finish. Just undercoating.
0:47:34 > 0:47:37I mean it was more I would come down and just crack the whip
0:47:37 > 0:47:42when he wasn't doing what he was meant to be doing, so, uh...
0:47:42 > 0:47:44All right. Crikey.
0:47:44 > 0:47:48Poor old Cloge sounds like he was having to take orders from all sides.
0:47:48 > 0:47:52When he wasn't doing the work on the house, he was babysitting one of his
0:47:52 > 0:47:58seven grandchildren and it seems THAT role might be getting even busier.
0:47:58 > 0:48:00My wife's expecting our second child,
0:48:00 > 0:48:03so six months and she'll have the baby.
0:48:03 > 0:48:06We don't know what it is yet, so...but as soon as it's born,
0:48:06 > 0:48:08we'll have it down to the next property and earning its keep.
0:48:08 > 0:48:10BOTH LAUGH
0:48:10 > 0:48:12Yep, that's it, start them young.
0:48:12 > 0:48:16So has getting the whole family involved kept costs down?
0:48:16 > 0:48:18- We have actually spent £12,000 on it.- £12,000, yeah.
0:48:18 > 0:48:22Got probably a bit more to spend, maybe another £500, £600,
0:48:22 > 0:48:28maybe £1,000, but we...I'm pleased, really, with the budget, because, you know, we're very close to it.
0:48:28 > 0:48:32Assuming a final budget of around £13,000,
0:48:32 > 0:48:35with a £48,000 purchase price,
0:48:35 > 0:48:40their total costs, without taxes and fees, would be £61,000.
0:48:40 > 0:48:45Does that add up to a successful start for this family team?
0:48:45 > 0:48:48What did two local estate agents think?
0:48:48 > 0:48:51I think the property has been refurbished to a really good
0:48:51 > 0:48:53standard.
0:48:53 > 0:48:57It's ready to move into, it's clean and modern and fresh,
0:48:57 > 0:48:59and it would appeal to all types of buyers.
0:48:59 > 0:49:01Before the owners put this property on the market,
0:49:01 > 0:49:04they should consider installing an electrical shower
0:49:04 > 0:49:06and tidying up the outside as this will appeal to more buyers.
0:49:06 > 0:49:10And appealing to buyers is what Nick and Cloge want to do,
0:49:10 > 0:49:14as they're keen to sell this house on to generate some capital for another
0:49:14 > 0:49:15project.
0:49:15 > 0:49:20But if they couldn't sell, what kind of rental returns could they expect?
0:49:20 > 0:49:24The likely rental income for the property would be in the region
0:49:24 > 0:49:26of £425 per calendar month.
0:49:26 > 0:49:30I'd put this property on the market for £395 per calendar month.
0:49:30 > 0:49:33Well, yeah, that's what we expected, really, but we're not going to rent,
0:49:33 > 0:49:35so, you know...
0:49:35 > 0:49:40Even the lower £395 per calendar month would generate a rental
0:49:40 > 0:49:42yield above 7%. Not bad.
0:49:42 > 0:49:45Now, more important, how would the house Cloge
0:49:45 > 0:49:51and Nick have invested £61,000 in fare on the resale market?
0:49:51 > 0:49:52I would place this property on the open
0:49:52 > 0:49:56market in the region of £75,000.
0:49:56 > 0:49:59I would put this property on the market at £73,000.
0:49:59 > 0:50:01Well, that's roughly what we expected, yeah.
0:50:01 > 0:50:04That's about right, yeah. We're happy at that.
0:50:04 > 0:50:09So, potential pre-tax profit between £12,000 and £14,000.
0:50:09 > 0:50:11Not bad for starters.
0:50:11 > 0:50:13So is that enough encouragement for them
0:50:13 > 0:50:15to continue with property developing?
0:50:18 > 0:50:21Definitely, yeah, we've enjoyed it. I've had some good fun. Nick's enjoyed it.
0:50:21 > 0:50:24He's learned a few things, so I'd definitely do it again.
0:50:29 > 0:50:32It was in the Hampshire town of Fareham where
0:50:32 > 0:50:36we first saw a mixed development with bags of potential.
0:50:36 > 0:50:39Not only was there a fishmonger's shop with a residential
0:50:39 > 0:50:43apartment above, there was also a courtyard and storage block which
0:50:43 > 0:50:48could, with planning permission, be turned into a small townhouse.
0:50:48 > 0:50:52So lots of options and lots of possibilities, but also lots of work.
0:50:52 > 0:50:55The flat alone hadn't been occupied for 30 years,
0:50:55 > 0:50:58and had no stairs up to it.
0:50:58 > 0:50:59Bizarre.
0:50:59 > 0:51:01HE LAUGHS
0:51:01 > 0:51:03But for professional singer Amanda,
0:51:03 > 0:51:06this lot hit the right note for her burgeoning property developing
0:51:06 > 0:51:12sideline, so she snapped it up for £134,000 at auction.
0:51:13 > 0:51:14So why did you want to buy this place?
0:51:14 > 0:51:17Well, if you look around, you see the potential, really,
0:51:17 > 0:51:18of the whole building.
0:51:18 > 0:51:23Um, there's obviously a commercial unit which I've already got
0:51:23 > 0:51:26- a tenant for at the moment. - You have?- Yes, already.- Oh, wow.
0:51:26 > 0:51:30And the flat upstairs obviously is going to be refurbed.
0:51:30 > 0:51:33There's nothing in there at the moment, and I'm hoping to get
0:51:33 > 0:51:35planning to actually build another property here as well, so...
0:51:35 > 0:51:36- Oh, wow.- Yeah.
0:51:36 > 0:51:41So, quite ambitious plans, but Amanda's partner, Richard,
0:51:41 > 0:51:45is in the building trade, and this was to be a two-phase development.
0:51:45 > 0:51:48The first phase was to renovate the flat
0:51:48 > 0:51:51and do a few small changes in the shop for the new tenant,
0:51:51 > 0:51:55and she hoped to complete this part of the work on a budget of £20,000
0:51:55 > 0:51:57and a timescale of three months.
0:52:01 > 0:52:05Now, just under four months later, we're back, and already the flat is
0:52:05 > 0:52:09a step up from before, with an external staircase installed.
0:52:09 > 0:52:14Less fun than the ladder, but more practical. And inside?
0:52:23 > 0:52:25Wow, that's fantastic.
0:52:25 > 0:52:28There's now a fully fitted kitchen, and there's even room for a table
0:52:28 > 0:52:29and chairs.
0:52:33 > 0:52:37The front lounge isn't bad either, and there are also definite
0:52:37 > 0:52:41signs that the flat's 30-year wait for a tenant is over.
0:52:41 > 0:52:43I advertised the flat.
0:52:43 > 0:52:45The first person that came to view it had it straightaway
0:52:45 > 0:52:49and that was it, so I'm very pleased with that.
0:52:50 > 0:52:52Well, that's great, and not surprising
0:52:52 > 0:52:57when you see what they're getting, with a modern shower room downstairs,
0:52:57 > 0:52:59and there's the two bedrooms in the loft space.
0:53:01 > 0:53:03# Ooh, I'm gonna shout to the top
0:53:03 > 0:53:04# Shout
0:53:04 > 0:53:06# Ooh, I'm gonna shout to the top
0:53:06 > 0:53:07# Shout
0:53:07 > 0:53:09# Yeah, shout to the top... #
0:53:10 > 0:53:13Yes, this certainly was a development worth shouting about,
0:53:13 > 0:53:19or maybe in Amanda's case, singing about. So how often was she on site?
0:53:21 > 0:53:26Every day, seven days a week, I was there on my tummy,
0:53:26 > 0:53:30on the floorboards, helping lay the cables for the electrician.
0:53:30 > 0:53:34I was...had a pneumatic drill, I was breaking up concrete in the garden,
0:53:34 > 0:53:36I was painting, stripping walls.
0:53:36 > 0:53:38So I was definitely hands-on, I'd say.
0:53:38 > 0:53:40With a new tenant lined up for the flat,
0:53:40 > 0:53:44Amanda and partner Richard's hard work certainly has paid off.
0:53:44 > 0:53:48And having another fishmonger waiting to take over where the old business
0:53:48 > 0:53:50left off means less work there.
0:53:53 > 0:53:56We haven't done a lot drastically to the shop.
0:53:56 > 0:53:58We've done, obviously, the things that need to be done,
0:53:58 > 0:54:00which are the electrics.
0:54:00 > 0:54:03We've had the ceiling redone and plastered and fireproofed
0:54:03 > 0:54:04and soundproofed.
0:54:04 > 0:54:09The major refurbishment we've left to the tenants.
0:54:09 > 0:54:13So with the shop and flat sorted and tenants in both,
0:54:13 > 0:54:15that's phase one done.
0:54:15 > 0:54:18Now, what about the 'egg-citing'
0:54:18 > 0:54:20possibility of development at the back?
0:54:22 > 0:54:25Um, well, this is going to be the next project.
0:54:25 > 0:54:30We're planning to build a two-bed house here.
0:54:30 > 0:54:33We've put in the full plans now and just crossing our fingers
0:54:33 > 0:54:37and hoping that we will get what we want, really.
0:54:37 > 0:54:41For that, Amanda and Richard have a provisional build cost of around
0:54:41 > 0:54:48£60,000, but what's it cost Amanda to get the shop and flat refurbished?
0:54:48 > 0:54:51We did have a budget for £20,000 and it did go over slightly,
0:54:51 > 0:54:54so I think we ended up spending about £24,000,
0:54:54 > 0:54:58so although it went over quite a bit, it was worth it.
0:54:59 > 0:55:01Time to find out if she's right.
0:55:01 > 0:55:06So far, she's invested that purchase price of £134,000,
0:55:06 > 0:55:09plus a £24,000 refurbishment budget,
0:55:09 > 0:55:14making a total spend of £158,000, without taxes and fees.
0:55:14 > 0:55:18So do two property experts think it was worth it?
0:55:19 > 0:55:21Well, the changes to the flat are dramatic,
0:55:21 > 0:55:24from teetering up a stainless steel old loft ladder to get
0:55:24 > 0:55:27up into the roof to be able to walk up a proper cast-iron staircase
0:55:27 > 0:55:29and then behold what she's actually done.
0:55:29 > 0:55:31I think she's done a grand job of it.
0:55:31 > 0:55:34I like the flat, obviously it's very new, it's been refurbished.
0:55:34 > 0:55:38It's not the largest flat in the world, but it's well-proportioned.
0:55:38 > 0:55:40It's a good little sound investment.
0:55:40 > 0:55:44Amanda already has tenants in both the flat and the shop,
0:55:44 > 0:55:48but is she getting a competitive rent for them both?
0:55:48 > 0:55:49She's done such a good job of the flat that
0:55:49 > 0:55:53I would expect it to achieve a rent of between £600 and £700 a month.
0:55:53 > 0:55:55I think for the flat in terms of rental figures,
0:55:55 > 0:55:59you're going to get around £700 to £750 per calendar month.
0:55:59 > 0:56:02Yeah, that's good, yeah, that's about what we've rented it out for,
0:56:02 > 0:56:04so we're quite pleased with that.
0:56:04 > 0:56:08Both agents thought the shop unit should also rent for around £600 per
0:56:08 > 0:56:10calendar month,
0:56:10 > 0:56:14which is also close to the figure Amanda is getting, so even at the
0:56:14 > 0:56:19lowest total rental value of £1,200 per calendar month for the two units,
0:56:19 > 0:56:23this would see an annual total yield of around 9%,
0:56:23 > 0:56:27which makes this mixed development a very healthy nest egg,
0:56:27 > 0:56:32but what could she get on the resale market if she sold the flat
0:56:32 > 0:56:37and shop she so far has spent £158,000 on?
0:56:37 > 0:56:40If you're looking to sell both the units together as a freehold
0:56:40 > 0:56:45element, you're looking at figures around £160,000 to £170,000.
0:56:45 > 0:56:49If we were to sell the whole, and assuming there wasn't any planning for the conversion
0:56:49 > 0:56:51of the store at the back, I would expect this to achieve
0:56:51 > 0:56:54somewhere around £170,000 to £180,000, perhaps even £190,000.
0:56:56 > 0:56:59So there's a potential pre-tax profit of between £2,000
0:56:59 > 0:57:01and £32,000 just for the flat and shop alone,
0:57:01 > 0:57:05and then there's the possibility of the two-bed house.
0:57:06 > 0:57:09If Amanda is successful in getting her planning and builds the mews
0:57:09 > 0:57:11cottage, I would imagine that would have a resale
0:57:11 > 0:57:14value in the region of £130,000 to perhaps £150,000.
0:57:14 > 0:57:16For a two-bedroom house,
0:57:16 > 0:57:19I think the restriction you're going to get is probably parking.
0:57:19 > 0:57:23I think the value's probably going to be around £140,000.
0:57:23 > 0:57:27That's good. Yeah, that's what we budgeted on anyway, so we were hoping it's going
0:57:27 > 0:57:30to be about...round about that price, so, yeah.
0:57:30 > 0:57:34Even with the build costs, that could see a very healthy profit,
0:57:34 > 0:57:37making the whole development very worthwhile indeed.
0:57:37 > 0:57:41So is Amanda tempted to switch from performance to property?
0:57:42 > 0:57:45Performing is a passion, my music is my passion,
0:57:45 > 0:57:48so I don't think I will ever give that up,
0:57:48 > 0:57:52but property is a good thing to get into I think,
0:57:52 > 0:57:55and it's enjoyable and it's been a great experience for me.
0:57:57 > 0:58:01We hope you've enjoyed our insight into the world of auctions.
0:58:01 > 0:58:04Yes, make sure you join us for more, next time on Homes Under the Hammer.
0:58:04 > 0:58:06- See you then.- Goodbye.- Goodbye.