0:00:02 > 0:00:03Hello, and welcome to the show.
0:00:03 > 0:00:05Now, the property market is really fast-moving.
0:00:05 > 0:00:08And it's not always easy to know when to jump in.
0:00:08 > 0:00:10So if you ARE looking to take that leap, well,
0:00:10 > 0:00:12where is a good place to start?
0:00:12 > 0:00:14The one place could be your local property auction.
0:00:40 > 0:00:42What is not always easy to see,
0:00:42 > 0:00:45is if a property is a potential moneymaker.
0:00:45 > 0:00:48No, the only way to really know is to do your research
0:00:48 > 0:00:49and test the market.
0:00:49 > 0:00:53Let's see what our bidders on today's programme bought.
0:00:54 > 0:00:55In Shropshire,
0:00:55 > 0:00:59there's a whole lot of work to be done at this former village shop.
0:00:59 > 0:01:03But! WHAT an opportunity!
0:01:04 > 0:01:08Opportunity knocks at this pub in Margate, too. I'll drink to that!
0:01:08 > 0:01:10Or maybe not.
0:01:10 > 0:01:13Somebody's even left an old pint of beer.
0:01:14 > 0:01:15But getting plastered, ha-ha,
0:01:15 > 0:01:18is exactly what's needed at this Welsh maisonette.
0:01:21 > 0:01:24Right. That's not good. Ahem! I didn't expect it to do that.
0:01:25 > 0:01:27All of these properties have been sold at auction.
0:01:27 > 0:01:30We'll find out who bought them, and what they paid for them
0:01:30 > 0:01:32when they went under the hammer.
0:01:32 > 0:01:34Yours, Madam, well done.
0:01:40 > 0:01:43This is the historic village of Hodnet,
0:01:43 > 0:01:46surrounded by the beautiful Shropshire countryside.
0:01:46 > 0:01:50It's literally not much more than two streets,
0:01:50 > 0:01:53but you've got the shops and conveniences of Shrewsbury
0:01:53 > 0:01:57half an hour away, and Market Drayton 15 minutes away.
0:01:57 > 0:02:02The property I'm here to see was guided at £155,000-plus,
0:02:02 > 0:02:05and there's more to it than meets the eye.
0:02:05 > 0:02:10Well, up for auction was one of the local village shops,
0:02:10 > 0:02:14and I have to say, this auction lot is a real doozy,
0:02:14 > 0:02:17because not only do you get the old shop,
0:02:17 > 0:02:21you get the cash registers and some coach houses, as well.
0:02:21 > 0:02:25This is the main shop front. It, in itself, is huge.
0:02:25 > 0:02:28What else is in store? Ha-ha(!)
0:02:30 > 0:02:32- Heh. Wow. - HE CHUCKLES
0:02:32 > 0:02:33That's pretty impressive.
0:02:33 > 0:02:35But, before I show you that, look at this.
0:02:35 > 0:02:38This is obviously some kind of doorway through to
0:02:38 > 0:02:40the residential bit that's attached to the property.
0:02:40 > 0:02:44We'll explore that in a minute. But look at the size of this room.
0:02:44 > 0:02:46This is the original shop.
0:02:46 > 0:02:48It must've been absolutely huge in its day
0:02:48 > 0:02:52and what an amazing space you've got to play with here.
0:02:52 > 0:02:54A few things you'll need to deal with,
0:02:54 > 0:02:57my guess is that this is a structural support,
0:02:57 > 0:03:00so that can't necessarily go, but make a bit of a feature of that.
0:03:00 > 0:03:03But the amount of space you've got to play with here,
0:03:03 > 0:03:07you've got more rooms at the back, a door out to a little court yard.
0:03:07 > 0:03:09Look at the height of the ceilings. Um...
0:03:12 > 0:03:13Look at the floor.
0:03:13 > 0:03:15Look at the amount of work you're going to need to do.
0:03:15 > 0:03:18But! WHAT an opportunity!
0:03:23 > 0:03:27To the back of the shop lie an office,
0:03:27 > 0:03:31a toilet and underneath that, there's even a cellar.
0:03:31 > 0:03:34However, there's still plenty more to discover.
0:03:34 > 0:03:36What about the attached residence?
0:03:37 > 0:03:41So, from the shop through this little opening here,
0:03:41 > 0:03:44into this, which is your sort of residential part of the whole thing.
0:03:44 > 0:03:46You've got the living room at the front there,
0:03:46 > 0:03:49this little corridor and then towards the back here,
0:03:49 > 0:03:52a little storage area there. Stairs up to your bedrooms,
0:03:52 > 0:03:54living room and a kitchen.
0:03:54 > 0:03:58I mean, in its own right this is worthy of attention.
0:03:58 > 0:04:00It needs a lot of work doing to it,
0:04:00 > 0:04:05but it's just part of this whole amazing property.
0:04:10 > 0:04:13Spacious as it is, everything's a bit run down.
0:04:13 > 0:04:17And, as much as I love these old fireplaces,
0:04:17 > 0:04:18well, things have to change.
0:04:21 > 0:04:25The accommodation upstairs is equally generous.
0:04:25 > 0:04:29There are four double bedrooms together with a family bathroom.
0:04:30 > 0:04:33Directly above the shop, there are some interesting
0:04:33 > 0:04:37reminders that this property used to be a flour mill.
0:04:38 > 0:04:41And above that, it's the attic
0:04:42 > 0:04:46look at this attic room! Oh! What a find.
0:04:48 > 0:04:50It stretches all the way that way, through there
0:04:50 > 0:04:52it's a bit dark and dingy.
0:04:52 > 0:04:54But all the way over this way, basically,
0:04:54 > 0:04:56it's the full width of this part of the property.
0:04:56 > 0:04:58And look at the height.
0:04:58 > 0:05:02These incredible roof beams and everything. What a wonderful space.
0:05:02 > 0:05:05I have to say, it looks like somebody's living here already.
0:05:05 > 0:05:10Evidence of some kind of beetle in there, woodworm.
0:05:10 > 0:05:13That needs to be treated, for sure.
0:05:13 > 0:05:14You get an impression, again,
0:05:14 > 0:05:16of the amount of work this needs to sort this place out.
0:05:16 > 0:05:18But one bit of good news,
0:05:18 > 0:05:22if you look at here underneath the roof, this is breathable membrane.
0:05:22 > 0:05:25It's like underfelt, if you like, but a breathable variety.
0:05:25 > 0:05:27That is fairly modern. So the good news is,
0:05:27 > 0:05:31it looks like at least the roof has been replaced relatively recently.
0:05:31 > 0:05:34And in terms of a space, just...
0:05:34 > 0:05:39What a fantastic capping, if you like, literally, to this property.
0:05:41 > 0:05:47MUSIC: Better Days are Coming by Jimmy Cliff
0:05:48 > 0:05:52Behind the main building, there is plenty of garden space
0:05:52 > 0:05:56and a former coach house. Where would you begin?
0:05:56 > 0:05:59Well, as you might expect, the property is in a conservation area,
0:05:59 > 0:06:03which means being very careful about what you decide to do here.
0:06:03 > 0:06:07But the good news is that the £155,000-plus guide price
0:06:07 > 0:06:10doesn't just include all these buildings.
0:06:10 > 0:06:14It also includes planning permission to build three residential units.
0:06:14 > 0:06:16Actually, this is really interesting. Take a look.
0:06:16 > 0:06:19These are the plans that have been drawn up and passed
0:06:19 > 0:06:22for creating three individual dwellings on this site.
0:06:22 > 0:06:24Here's the existing.
0:06:24 > 0:06:27You've got the residences to one side, you've got the shop unit here.
0:06:27 > 0:06:31And then, to the right-hand side here, the coach house.
0:06:31 > 0:06:35Now, these are the plans in terms of what it will become.
0:06:35 > 0:06:37That pretty much stays the same.
0:06:37 > 0:06:41You've then got the shop converted into another property here, and on
0:06:41 > 0:06:45the right-hand side, the coach house converted into a third property.
0:06:45 > 0:06:50All really sizeable properties and really making good use of the space.
0:06:50 > 0:06:52Now, it's not going to be a simple, conversion, but it's one
0:06:52 > 0:06:55that I think can generate quite a lot of cash in the end.
0:06:58 > 0:06:59That's what I think.
0:06:59 > 0:07:06Does a local property expert share my optimism for this project?
0:07:06 > 0:07:08MUSIC CONTINUES
0:07:12 > 0:07:15It's a decent-sized property, with plenty of potential,
0:07:15 > 0:07:20both to convert into multiple units or one single dwelling.
0:07:20 > 0:07:23And if the plans for three dwellings came to fruition,
0:07:23 > 0:07:26how much would these properties sell for?
0:07:28 > 0:07:32As a combined total for the three individual dwellings,
0:07:32 > 0:07:36you'd be looking at in the region of £475,000.
0:07:36 > 0:07:40Well, what an incredible opportunity for someone this is.
0:07:40 > 0:07:42A huge building, it's true.
0:07:42 > 0:07:45But, by converting it into those three dwellings,
0:07:45 > 0:07:49potential profit to be made. But not after quite a lot of work.
0:07:49 > 0:07:53Let's see who was willing to take it on when it went under the hammer.
0:07:53 > 0:07:59Lot number six. Picturesque village location. We'll say it's 140.
0:07:59 > 0:08:03135, then. 135 miss? Thank you.
0:08:03 > 0:08:07135, opening bid. £135,000.
0:08:07 > 0:08:13140 can I say now. Yes, 140. That's 145. OK, in ones if it helps.
0:08:13 > 0:08:20141, 140... 142. 143, 144, 145, 146.
0:08:20 > 0:08:26Back in, 147, 148, 149.
0:08:26 > 0:08:30At £149,000, then.
0:08:30 > 0:08:31Are we all done?
0:08:32 > 0:08:37You bid at 150, at 150. Another one?
0:08:37 > 0:08:41The bid's seated, no mistakes, at £150,000.
0:08:42 > 0:08:46Be quick if you're coming back in, if not, I'm selling it at 150.
0:08:46 > 0:08:49At £150,000 for the first time...
0:08:49 > 0:08:54At £150,000 for the second time...
0:08:54 > 0:08:58Third and final time at £150,000...
0:08:58 > 0:09:01BANGS HAMMER You bought it, sir, well done.
0:09:01 > 0:09:03MUSIC: Go West by The Village People
0:09:03 > 0:09:08That final bid of £150,000 was made by Sean and Colleen,
0:09:08 > 0:09:11a retired couple from Reading who have decided to head to the
0:09:11 > 0:09:17West Midlands in order to fulfil a lifelong ambition.
0:09:17 > 0:09:22MUSIC CONTINUES
0:09:22 > 0:09:26- Colleen, Sean, lovely to meet you both.- And you.- Hi.- Er, phew.
0:09:26 > 0:09:29- Small house then, really? - Just a tad.
0:09:29 > 0:09:32- MARTIN LAUGHS - Tell me what you wanted to buy it?
0:09:32 > 0:09:36- We've always wanted a big house, haven't we? Always.- Yeah.
0:09:36 > 0:09:42We wanted a blank canvas to put our own stamp on it. And here we are.
0:09:42 > 0:09:44- Yeah.- How did you come about it?
0:09:44 > 0:09:46Oh, just looking through the auction.
0:09:46 > 0:09:48Colleen found it on the internet.
0:09:48 > 0:09:51OK, so from the little square box on the internet and the details,
0:09:51 > 0:09:55what was it that made you think, "Yeah, this sounds like our...
0:09:55 > 0:09:56"One for us?"
0:09:56 > 0:09:59It didn't hit me at first, didn't think anything of it.
0:09:59 > 0:10:01But, I must admit, it was Sean.
0:10:01 > 0:10:03What did you spot?
0:10:03 > 0:10:07Er...its potential. It's currently got planning permission for three properties,
0:10:07 > 0:10:10but as soon as I walked in and looked at the shop area, I thought,
0:10:10 > 0:10:12"Open-plan living, this is what I want."
0:10:12 > 0:10:16- We'd like to make it as one property.- One property!- Yeah.
0:10:16 > 0:10:19- How many people will be living here? - Just us two rattling around!
0:10:19 > 0:10:20ALL LAUGH
0:10:23 > 0:10:25- Right.- And my two cats. - Oh, of course.
0:10:25 > 0:10:28Well, that's all right, then. They need a lot of room.
0:10:28 > 0:10:30Colleen, you may love your cats dearly,
0:10:30 > 0:10:33but giving them this much space to play...?
0:10:34 > 0:10:37MUSIC: Lovecats by The Cure
0:10:37 > 0:10:39Having taken the grand tour already,
0:10:39 > 0:10:43my mind is reeling with the possibilities of turning this
0:10:43 > 0:10:45into one huge residence.
0:10:46 > 0:10:48Although there will be plenty of room, ha-ha,
0:10:48 > 0:10:49to swing a cat.
0:10:56 > 0:11:00So, how are you going to divide it up in terms of living space?
0:11:00 > 0:11:04Ground floor, we're looking at putting...
0:11:04 > 0:11:08Open-plan, with large lounge, dining room, open-plan kitchen,
0:11:08 > 0:11:13and then a formal snug, or study downstairs, possibly.
0:11:13 > 0:11:16And then, upstairs, knock a few of the rooms together...
0:11:16 > 0:11:18- To make large bedrooms.- Yeah.
0:11:18 > 0:11:23Couple of en suites, master bedroom with en suite, walk-in wardrobe.
0:11:24 > 0:11:26- And we haven't got to the attic yet.- No!
0:11:26 > 0:11:29- Well, the attic blew me away. I mean...- It's beautiful, isn't it?
0:11:29 > 0:11:32I love it! So what are you going to do with the attic?
0:11:32 > 0:11:36I want it very old-fashioned, lots of nooks and crannies.
0:11:40 > 0:11:42Colleen and Sean's next step
0:11:42 > 0:11:45is to work with an architect to draw up plans.
0:11:45 > 0:11:48They are hoping to get the work done in nine months to a year,
0:11:48 > 0:11:51but that will depend on whether those plans are approved.
0:11:52 > 0:11:55What if the planners say, "No, that's not suitable for the village,
0:11:55 > 0:11:57"to have one massive great property?"
0:11:57 > 0:11:58SEAN SIGHS
0:11:58 > 0:12:02- We will be...- We'll be very upset, obviously.- We will be.
0:12:02 > 0:12:05Maybe we would build two,
0:12:05 > 0:12:06keep one, sell one.
0:12:06 > 0:12:09- We've got options available. - Lots of options.
0:12:09 > 0:12:13- So who's going to be doing the work? - Er...mainly me.
0:12:13 > 0:12:16I've got some experience, I've renovated a couple of properties,
0:12:16 > 0:12:20I've dabbled with plastering, brick laying, I'm a qualified electrician.
0:12:20 > 0:12:21- Oh, that'll be helpful, then.- Yeah.
0:12:21 > 0:12:23So, the big question, of course,
0:12:23 > 0:12:26is how much have you set aside to do the work?
0:12:27 > 0:12:30My initial budget was between 50 to 80,
0:12:30 > 0:12:34with a £20,000 contingency on top of that.
0:12:34 > 0:12:37But...at the moment it's very difficult to try and judge
0:12:37 > 0:12:38how much we're going to need to spend,
0:12:38 > 0:12:41- because we don't have the plans.- Right.
0:12:41 > 0:12:45- I was going to say, it sounds a bit tight to me, that.- I hope it isn't!
0:12:45 > 0:12:46THEY LAUGH
0:12:46 > 0:12:49Well, listen, I can't wait to see how you get on. I do wish you all the best.
0:12:49 > 0:12:51- Few hurdles to go through, but...- Certainly.
0:12:51 > 0:12:53- I hope you achieve your dream, here. - Thank you.
0:12:53 > 0:12:57- Can't wait to see how you get on. - Thank you.- Well done to you both. - Thank you.
0:12:59 > 0:13:02Well, what a turn up for the books.
0:13:02 > 0:13:07I so hope that Colleen and Sean
0:13:07 > 0:13:10can realise their dreams with this property.
0:13:13 > 0:13:15- What do you reckon? - HE LAUGHS
0:13:15 > 0:13:17Budget? I don't think that's high enough.
0:13:17 > 0:13:19Will the planners really go for one property, here?
0:13:20 > 0:13:2250-50, in my eyes.
0:13:23 > 0:13:26You just hope it's a success for them.
0:13:26 > 0:13:28There's only one way you can find out if it turns out all right.
0:13:28 > 0:13:31That's by tuning in, later in the show.
0:13:35 > 0:13:38From Shropshire, we're hopping over the border now,
0:13:38 > 0:13:41to a historic little village in the Rhondda Valley.
0:13:43 > 0:13:48I'm in the former mining community of Ferndale, in South Wales.
0:13:48 > 0:13:50This was one of the first villages
0:13:50 > 0:13:54to be heavily industrialised in the 1890s
0:13:54 > 0:13:57but nowadays, it's better known for its beautiful surroundings,
0:13:57 > 0:14:00which is popular with mountain bikers,
0:14:00 > 0:14:05and also as the location for the popular television series Stella,
0:14:05 > 0:14:07along with nearby Wattstown.
0:14:15 > 0:14:20Well, on the north side of Ferndale is the property I'm here to see.
0:14:20 > 0:14:27Three-bedroomed maisonette, has a guide price of £18,000+.
0:14:28 > 0:14:31Sounds like a lot of property for the money to me.
0:14:33 > 0:14:36There's also quite a lot of stairs
0:14:36 > 0:14:38down to the entrance of the maisonette,
0:14:38 > 0:14:41but the village does cling to the side of the valley somewhat.
0:14:43 > 0:14:45So, lower ground floor, then.
0:14:45 > 0:14:48So, one of the first things we are going to be looking out for is...
0:14:48 > 0:14:50- HE COUGHS - damp.
0:14:50 > 0:14:52- HE LAUGHS - You don't have to go very far.
0:14:53 > 0:14:55All that plasterwork there is blown.
0:14:55 > 0:14:57PLASTER CRACKS CLATTERS TO FLOOR
0:14:58 > 0:14:59Right, that's not good.
0:14:59 > 0:15:04But, erm, entrance area... I didn't expect it to do that!
0:15:04 > 0:15:07..entrance area here, stairs up to your bedrooms, it's a maisonette.
0:15:07 > 0:15:09We'll explore down there in a minute.
0:15:09 > 0:15:11But through into a fairly light...
0:15:11 > 0:15:13surprisingly, given the location of the flat,
0:15:13 > 0:15:15..front room area.
0:15:15 > 0:15:17But wow!
0:15:18 > 0:15:19HE LAUGHS
0:15:20 > 0:15:22The damp in the hallway was subtle.
0:15:22 > 0:15:23PLASTER RUSTLES
0:15:23 > 0:15:25The damp in the lounge, here...
0:15:26 > 0:15:29..is like a textbook, isn't it? Gosh!
0:15:29 > 0:15:33And it worries me a bit that is a very, very big wall.
0:15:33 > 0:15:37It's going to take a professional company to sort that out.
0:15:37 > 0:15:41Injection damp proofing, perhaps, tanking...
0:15:41 > 0:15:45The worry is always has it gone down into the floorboards,
0:15:45 > 0:15:48and caused all sorts of problems that would be very expensive to fix.
0:15:48 > 0:15:50But, continuing through the flat, you know,
0:15:50 > 0:15:52I can see through that,
0:15:52 > 0:15:57to just the overall feeling of this property,
0:15:57 > 0:16:00which is really, really pleasant, and massive!
0:16:00 > 0:16:03You've got that room there, then through into this kitchen.
0:16:03 > 0:16:05I mean, it's not brilliant, but it's not bad.
0:16:05 > 0:16:09And more damp there, surprise, surprise. A little toilet, there.
0:16:09 > 0:16:11Lots of space,
0:16:11 > 0:16:13and that's only this floor!
0:16:13 > 0:16:15And, given it's a maisonette,
0:16:15 > 0:16:16there's another one!
0:16:16 > 0:16:18Upstairs, at street level,
0:16:18 > 0:16:21you've got the bathroom, and three bedrooms.
0:16:21 > 0:16:24The first is a pretty good size.
0:16:25 > 0:16:28The second is a handy box room.
0:16:28 > 0:16:31And the third has a cracking view.
0:16:31 > 0:16:33And that's not all.
0:16:34 > 0:16:36Well, at the back of the property, you really get a sense
0:16:36 > 0:16:39of just how tall it is. Look at that!
0:16:39 > 0:16:43I mean, obviously, our property doesn't go up all the way,
0:16:43 > 0:16:44but still, look at the building.
0:16:44 > 0:16:47The bonus, of course, for this particular maisonette,
0:16:47 > 0:16:50is that you get this garden, and also a bit of storage.
0:16:50 > 0:16:52And, best of all for me...
0:16:53 > 0:16:54..a fantastic view.
0:16:56 > 0:16:58Ah, the view!
0:16:58 > 0:17:00Does it for me every time.
0:17:00 > 0:17:03Sort out the damp issues here, and zhoosh it up a bit,
0:17:03 > 0:17:06and I reckon this maisonette's potentially a great little earner.
0:17:06 > 0:17:11And, with a guide price of 18,000 quid, ha! What's not to like?
0:17:15 > 0:17:17Let's see if a local estate agent
0:17:17 > 0:17:19is in agreement.
0:17:19 > 0:17:21Most of the building work has been done,
0:17:21 > 0:17:23there's issues to the front with the damp,
0:17:23 > 0:17:26and, walking into the property, it's not that attractive,
0:17:26 > 0:17:27but once you're in here, it's large.
0:17:28 > 0:17:31It sure is large, but once done up,
0:17:31 > 0:17:34could the purchaser see a large return on the resale market?
0:17:35 > 0:17:38If I was going to sell this property on the open market,
0:17:38 > 0:17:41I'd probably put it up for £35,000.
0:17:41 > 0:17:44Tempting. But what about the rental market?
0:17:45 > 0:17:46On the rental market,
0:17:46 > 0:17:51I'm sure you could get easily £350 per calendar month, possibly 400.
0:17:52 > 0:17:54So, a few issues with damp to sort out,
0:17:54 > 0:17:58but overall, I think this place is a real find.
0:17:58 > 0:18:01A lot of accommodation for that guide price.
0:18:01 > 0:18:03Let's see who agreed when it went under the hammer.
0:18:05 > 0:18:07So, then. Lot number six.
0:18:07 > 0:18:10Large three-bedroomed maisonette,
0:18:10 > 0:18:11good... well, in fact,
0:18:11 > 0:18:13a very good investment property.
0:18:13 > 0:18:14Who will start me at 18?
0:18:14 > 0:18:1718. Make it 15 if you like, then.
0:18:17 > 0:18:20Thank you, thank you very much, at 15. 15 there.
0:18:20 > 0:18:21And 16 now, can I see?
0:18:21 > 0:18:23At 15 here. 16, I'm looking for.
0:18:23 > 0:18:2716 behind, thank you. 16. 17. 18. 19.
0:18:27 > 0:18:31And 20? 20. 21. 22? 22. 23? 23. 24?
0:18:32 > 0:18:3524, no. 23, I've got. Are you sure?
0:18:35 > 0:18:38At 23 it is, then, seated. Against you now, standing.
0:18:38 > 0:18:42At 23,000, seated here, then, for the first time.
0:18:42 > 0:18:44At 23,000, and the second time...
0:18:44 > 0:18:48Third and last time, at £23,000...
0:18:48 > 0:18:50BANG Yours, madam, well done.
0:18:50 > 0:18:55And, raising her card to buy this one, for £23,000, was Sharon.
0:18:57 > 0:18:59Sharon is a health and safety manager,
0:18:59 > 0:19:03who dabbles in property development in her spare time.
0:19:03 > 0:19:05And she also has another string to her bow...
0:19:05 > 0:19:07But more of that later.
0:19:09 > 0:19:12- Sharon, great to meet you. - Hi.- Congratulations.
0:19:12 > 0:19:16Great flat, well...maisonette. I mean, it's amazing, isn't it?
0:19:16 > 0:19:21- Yes, I think so. Well, I hadn't seen it before I bought it.- What?!
0:19:21 > 0:19:24- I did read a legal pack.- Oh.
0:19:24 > 0:19:25Why didn't you see it?
0:19:27 > 0:19:29Because I wasn't going there to buy this property,
0:19:29 > 0:19:32I was going to buy a different one.
0:19:32 > 0:19:34But I didn't buy that one, I bought this one instead.
0:19:34 > 0:19:36- Right, so what happened with the other one?- Erm...
0:19:36 > 0:19:39It was a dream, not a reality.
0:19:39 > 0:19:42It was a tower on a beach.
0:19:42 > 0:19:43A tower on a beach?!
0:19:43 > 0:19:45Yeah. A watchtower... MARTIN GASPS
0:19:45 > 0:19:48..which was... I really, really wanted it.
0:19:48 > 0:19:49- But I didn't...- Oh.
0:19:49 > 0:19:51What, it went over your budget, did it?
0:19:51 > 0:19:54No, the reality kicked in, and there was nothing you could do with it.
0:19:54 > 0:19:57It would be a beautiful beach house / hut,
0:19:57 > 0:20:00but you could never live in it, or do anything with it, so...
0:20:00 > 0:20:02- So, you didn't get the beach tower.- No.
0:20:02 > 0:20:05- You ended up with a really nice flat though.- Yeah.
0:20:05 > 0:20:08I plan to... At the moment, I work full-time,
0:20:08 > 0:20:13and part-time, I train mothers baby first aid.
0:20:13 > 0:20:16- Baby first aid?- Yes, yeah.
0:20:16 > 0:20:20So the plan is that I continue growing the baby first aid,
0:20:20 > 0:20:24- and go into property development and management.- Right.
0:20:24 > 0:20:26Just to concentrate on the two.
0:20:26 > 0:20:28- The baby first aid, what's that all about?- Yeah.
0:20:28 > 0:20:31Parents, they leave the hospital with this little bundle of joy,
0:20:31 > 0:20:34and it's terrifying.
0:20:34 > 0:20:36You know, if they cough, or they choke,
0:20:36 > 0:20:38and they really don't know what to do...
0:20:38 > 0:20:41But, just by having the first aid training,
0:20:41 > 0:20:43it gives you the confidence and the knowledge
0:20:43 > 0:20:45that if something does go wrong,
0:20:45 > 0:20:47you're not going to be panicking, and you'll know what to do.
0:20:48 > 0:20:50Sharon's going to be pretty busy,
0:20:50 > 0:20:53juggling two jobs and the property development.
0:20:56 > 0:20:59And, although she did break the Homes Under The Hammer Golden Rule
0:20:59 > 0:21:02by not viewing the property before the auction,
0:21:02 > 0:21:04it looks as if she's done well, here.
0:21:07 > 0:21:09So, having not seen it before you bought it,
0:21:09 > 0:21:11what did you think when you came in the door?
0:21:11 > 0:21:14Well, I was surprised. Pleasantly surprised.
0:21:14 > 0:21:16I thought it was going to be in a lot worse condition,
0:21:16 > 0:21:17- considering the price...- Yeah.
0:21:17 > 0:21:20..that I paid for it, so yes, it was.
0:21:20 > 0:21:23There's lots of damp, and it needs a little bit of work,
0:21:23 > 0:21:26but at least it's got walls and ceilings, which is always a bonus.
0:21:26 > 0:21:28THEY LAUGH
0:21:28 > 0:21:31You had set your expectations fairly low!
0:21:31 > 0:21:35- So, this is your first property venture, is it?- Second.- OK.- Yeah.
0:21:35 > 0:21:39- I've done four or five, for other people.- Oh!
0:21:39 > 0:21:42What's the plan for it, then? Is it to do it up and sell it on, or...
0:21:42 > 0:21:44- Rent it out?- Rent it out, yeah.
0:21:44 > 0:21:47Yeah, and then, just do the maintenance myself, then,
0:21:47 > 0:21:49when it's rented, yeah.
0:21:49 > 0:21:53So, initially, it needs the central heating needs changing,
0:21:53 > 0:21:56cos it's got the old back boiler in.
0:21:56 > 0:22:00Damp course needs doing, and the rendering outside is not right,
0:22:00 > 0:22:03- so it needs to be hacked off.- OK.
0:22:03 > 0:22:06And then the kitchen and bathroom, plans for that?
0:22:06 > 0:22:09Probably change those as well, yeah.
0:22:09 > 0:22:12Yeah, I mean, if you start off with a clean slate,
0:22:12 > 0:22:14you know what's wrong and what's not wrong.
0:22:14 > 0:22:18If you just patch it up, that's when you have problems, I think.
0:22:18 > 0:22:21So, if you go in, so you know it's all done right, you know,
0:22:21 > 0:22:25you're not going to have problems six months down the road, so...
0:22:25 > 0:22:27Is the plan to expand the portfolio?
0:22:27 > 0:22:31- I've got three grandchildren, so I need three houses.- Right.
0:22:31 > 0:22:35And they're going to have them as a sort of investment, or...?
0:22:35 > 0:22:38I'm going to keep them for them, and then, when they go to university,
0:22:38 > 0:22:40or wherever, and they need the money then,
0:22:40 > 0:22:44then they can be sold to fund towards their education.
0:22:44 > 0:22:47- Oh, great. Do they know about this yet?- No.
0:22:47 > 0:22:48THEY LAUGH
0:22:49 > 0:22:55- Well, they will now. How old are they?- 3, 14, and 13.- Right.
0:22:55 > 0:22:58What a nice thing to do for them. And what about you?
0:22:58 > 0:23:01- Do you enjoy doing this? - I love it. I love it.
0:23:01 > 0:23:05I do all of the work myself, except electrics and gas.
0:23:05 > 0:23:09- I do the kitchens, the bathrooms, the...- What, fitting those?- Yeah.
0:23:09 > 0:23:12And, much experience in that field, I mean, where does that come from?
0:23:12 > 0:23:14I've always done it.
0:23:14 > 0:23:16I've always done it since the day I got married,
0:23:16 > 0:23:20I've always done the tiling and the decorating so...
0:23:20 > 0:23:22- And you still manage to have nice nails!?- Yes!
0:23:22 > 0:23:23THEY LAUGH
0:23:23 > 0:23:25That's a good trick, if you can do it!
0:23:27 > 0:23:29So when some of the other tradesmen turn up,
0:23:29 > 0:23:34are they surprised to find you sort of smashing furniture and taking kitchens out?
0:23:34 > 0:23:36Yes. Yeah. I'll tell you a story.
0:23:36 > 0:23:39When I moved into the house I'm in now,
0:23:39 > 0:23:42I built a shed, out in the garden,
0:23:42 > 0:23:46and I was out putting the roof on it, and a lady come down the road,
0:23:46 > 0:23:49and she tapped my ladder, and I looked down.
0:23:49 > 0:23:54She said, "You are causing us real problems up here."
0:23:54 > 0:23:58And I said, "I don't even know you. How can I do that?"
0:23:58 > 0:24:01She said, "Our husbands want to know why we don't do what you do."
0:24:01 > 0:24:03THEY LAUGH
0:24:06 > 0:24:07..which was quite amusing.
0:24:07 > 0:24:08THEY LAUGH
0:24:08 > 0:24:12Sounds like Sharon has what it takes to make something of this place.
0:24:12 > 0:24:15And, more or less, single-handedly, to boot.
0:24:16 > 0:24:20- So what's the budget? - Between 10 and 15.- OK.
0:24:20 > 0:24:24- And the timescale? - No longer than six months.
0:24:24 > 0:24:27I'd like to get it done within three, but you don't know,
0:24:27 > 0:24:29it's getting tradesmen in, isn't it,
0:24:29 > 0:24:32to do the central heating and things, but...
0:24:32 > 0:24:34But you'll be beavering away, evenings and weekends?
0:24:34 > 0:24:36- Beavering, yes.- Wow.- Yes.
0:24:36 > 0:24:40- Well, listen, congratulations. Lovely to meet you.- Thank you.
0:24:40 > 0:24:43- Good luck with it, and I look forward to seeing how you get on. - Thank you.
0:24:44 > 0:24:46Well, Sharon might not match the profile
0:24:46 > 0:24:48of your average property developer,
0:24:48 > 0:24:51but she's got all the enthusiasm and skills she's going to need
0:24:51 > 0:24:53to sort this place out.
0:24:53 > 0:24:55How will she get on? I can't wait to see.
0:24:55 > 0:24:58You can find out later in the show.
0:24:59 > 0:25:01Coming up, this former pub in Margate
0:25:01 > 0:25:04is desperate for a new lease of life.
0:25:04 > 0:25:06It feels incredibly sad
0:25:06 > 0:25:09to see an old pub and restaurant left like this.
0:25:10 > 0:25:13Back in Wales, Sharon discovers the perils
0:25:13 > 0:25:15of being a little too hands-on.
0:25:15 > 0:25:19I did fall off a windowsill, resulting in three broken ribs.
0:25:22 > 0:25:26Welcome back to the tiny village of Hodnet in Shropshire,
0:25:26 > 0:25:29and this massive property.
0:25:29 > 0:25:34At an auction guide price of £155,000 was this shop space...
0:25:35 > 0:25:37..this residential space...
0:25:38 > 0:25:42..this attic, complete with these beautiful wooden beams...
0:25:43 > 0:25:46..and even these coach houses.
0:25:46 > 0:25:48This former flour mill needed a lot of work,
0:25:48 > 0:25:51but with planning permission approved to develop it
0:25:51 > 0:25:53into three residential houses,
0:25:53 > 0:25:57any developer brave enough could really dream big.
0:25:57 > 0:26:00MUSIC: Big Dreams In A Small Town by Restless Heart
0:26:05 > 0:26:07And the couple brave enough to do just that
0:26:07 > 0:26:10were husband and wife Sean and Colleen,
0:26:10 > 0:26:13who bought the property for 150,000.
0:26:13 > 0:26:18But working to the approved plans weren't for them. Oh, no!
0:26:18 > 0:26:20These rebels wanted more.
0:26:20 > 0:26:24- Are you just going to stick to the original plans, and three properties?- No.
0:26:24 > 0:26:27- No?- We'd like to make it as one property.- One property?!
0:26:27 > 0:26:32- Yeah.- How many people will be living here?- Just us two rattling around.
0:26:32 > 0:26:34HE LAUGHS
0:26:34 > 0:26:36MUSIC: Rebel Yell by Billy Idol
0:26:41 > 0:26:43One house! Ha!
0:26:43 > 0:26:45They had a budget of £50-£80,000,
0:26:45 > 0:26:50and trained electrician Sean was willing to take on most of the work,
0:26:50 > 0:26:53but this was a MAMMOTH task.
0:26:56 > 0:27:00Well, three years later, and we've returned.
0:27:00 > 0:27:04And there's certainly big changes on the outside.
0:27:04 > 0:27:07Has it become their dream home on the inside?
0:27:09 > 0:27:10Oh-ho-ho...
0:27:10 > 0:27:11Oh, yes.
0:27:31 > 0:27:35We've got six bedrooms, five bathrooms,
0:27:35 > 0:27:38- a utility room, study... - "Gym".- ..gym!
0:27:38 > 0:27:39THEY LAUGH
0:27:39 > 0:27:42Yes, they've still to develop the coach houses,
0:27:42 > 0:27:45but Colleen and Sean somehow managed to find money
0:27:45 > 0:27:49to sneak in a sauna into the... Ahem. .."gym."
0:27:49 > 0:27:50And good for them.
0:27:50 > 0:27:55They've turned this into the dream property they'd always hoped for.
0:27:55 > 0:27:59But getting the correct planning permission wasn't without its problems.
0:27:59 > 0:28:03The first year was spent primarily doing...
0:28:03 > 0:28:05Making it look worse, stripping it back.
0:28:05 > 0:28:08Yes. Destroying the property! And preliminaries.
0:28:08 > 0:28:12Planning permission, speaking to conservation.
0:28:12 > 0:28:16And finding out this couldn't happen but this could, so...
0:28:16 > 0:28:18That was the first year, really.
0:28:18 > 0:28:21We didn't know whether we would get consent to keep it as one dwelling
0:28:21 > 0:28:26or whether we would have to follow the original plans, which would make it into multiple properties.
0:28:26 > 0:28:29So at that stage we decided we would just do the structural
0:28:29 > 0:28:33work in the loft and then work our way down.
0:28:33 > 0:28:36'By working closely with the council's conservation officer,
0:28:36 > 0:28:40'their plans were granted, however, and work could begin.
0:28:40 > 0:28:42'And Sean got stuck in as promised.'
0:28:44 > 0:28:48I did as much of the physical work as I possibly could
0:28:48 > 0:28:52and brought in various contractors as and when we needed them.
0:28:52 > 0:28:56We were very fortunate. We found a local builder that was very good.
0:28:56 > 0:28:59Some of the contractors are now friends, which is very nice.
0:28:59 > 0:29:04Actually, the guy that had been Mr odd job
0:29:04 > 0:29:09and chippy, he's with my daughter now.
0:29:09 > 0:29:11- So we did a bit of matchmaking as well.- Yes.
0:29:11 > 0:29:15'Well, it appears this house comes with all mod cons.
0:29:15 > 0:29:20'Extra insulation, multimedia ports, LED light bulbs
0:29:20 > 0:29:23'and erm... Matchmaking services!'
0:29:24 > 0:29:27# Stupid Cupid, stop picking on me. #
0:29:28 > 0:29:31'But it's not just Sean that has been working.
0:29:31 > 0:29:33'Colleen has been hard at work too.'
0:29:33 > 0:29:37Most of the soft furnishings throughout the house,
0:29:37 > 0:29:38I have done myself.
0:29:38 > 0:29:41Like my four-poster bed, I did all the drapes.
0:29:41 > 0:29:44The swags and tails in the rooms.
0:29:44 > 0:29:48I have done some chair covering.
0:29:48 > 0:29:51The brick work, I scrubbed down and cleaned and varnished.
0:29:51 > 0:29:54A lot of the woodwork like the four-poster, renovating it.
0:29:54 > 0:29:56The staircase.
0:29:57 > 0:30:00That was weeks.
0:30:00 > 0:30:03- But, yes, I have... - You have helped out.
0:30:03 > 0:30:06Helped out. Thank you, Sean!
0:30:06 > 0:30:09- I've helped out. - Yes, you did your bit.
0:30:10 > 0:30:14'Careful, Sean, or you will be sleeping in the bathroom tonight.
0:30:14 > 0:30:16'So much love has clearly gone into this
0:30:16 > 0:30:19'but do they have a favourite room?'
0:30:20 > 0:30:24I love my pink room for my granddaughters.
0:30:24 > 0:30:29My husband doesn't like the pink room. But I love it.
0:30:29 > 0:30:31Mine is the lounge and kitchen.
0:30:31 > 0:30:34I love being in here in the evening and having the fire on.
0:30:34 > 0:30:38It's a very friendly, sociable area, which is what we wanted.
0:30:38 > 0:30:42'Sean and Colleen have really made this old place their own,
0:30:42 > 0:30:45'but how has it gone sticking to their £80,000 budget?
0:30:45 > 0:30:47'Well, in a word...'
0:30:47 > 0:30:49Terribly!
0:30:50 > 0:30:54I think we have come in around about 136 or 138.
0:30:54 > 0:30:56More like 150,000.
0:30:56 > 0:31:00'That is £150,000 to buy the property
0:31:00 > 0:31:06'and a further 150,000 and three years hard work for the development.
0:31:06 > 0:31:08'Cat is an optional extra.
0:31:08 > 0:31:12'It's obvious though that Sean and Colleen could not be happier.
0:31:12 > 0:31:15'But we have asked along two local property experts
0:31:15 > 0:31:17to see what they make of it.
0:31:18 > 0:31:20Very, very impressed. A wonderful property.
0:31:20 > 0:31:24Far, far larger than what I expected. They've done a lovely job.
0:31:24 > 0:31:27What people are looking for more and more nowadays
0:31:27 > 0:31:28is open plan living space.
0:31:28 > 0:31:30I think they have got it right.
0:31:30 > 0:31:34It's absolutely faultless throughout. A beautiful home.
0:31:34 > 0:31:38If we were to place this property on the market in today's climate,
0:31:38 > 0:31:41we would look at a figure of around about £375,000.
0:31:41 > 0:31:44I believe in the current market this property would sell
0:31:44 > 0:31:49anywhere between £375,000 and £400,000.
0:31:49 > 0:31:53'Having spent a total of £300,000, that higher value would give
0:31:53 > 0:31:56'Sean and Colleen a profit of £100,000,
0:31:56 > 0:31:59'minus the usual taxes and expenses.'
0:31:59 > 0:32:01It's nice to know we have made a profit
0:32:01 > 0:32:05but we definitely didn't do it for that. Definitely not.
0:32:05 > 0:32:07Before we got married,
0:32:07 > 0:32:12I used to draw pictures of buildings that we may one day live in.
0:32:12 > 0:32:17- That is partly why you took early retirement, wasn't it?- Yes.
0:32:17 > 0:32:19- To be able to fulfil your dream.- Yes.
0:32:24 > 0:32:27'Well, if you thought Sean and Colleen took on a huge project,
0:32:27 > 0:32:32'wait until you see this one in Margate that I came to see back in 2010
0:32:32 > 0:32:35'when the town was going through a process of regeneration.
0:32:35 > 0:32:40'The property went to auction guided at £100,000 to £110,000.
0:32:40 > 0:32:44'And it had the potential to give the purchaser a few sleepless nights.'
0:32:45 > 0:32:48The property I am here to see is at the end of Margate High Street
0:32:48 > 0:32:53and very close to the harbour and also, once built, the new Turner Gallery.
0:32:53 > 0:32:55Now, it was a former pub this
0:32:55 > 0:32:58and as you can see it is pretty derelict, it is run down.
0:32:58 > 0:33:02But it is one of the oldest buildings in the area
0:33:02 > 0:33:05and not so surprisingly, it is Grade Two Listed.
0:33:05 > 0:33:07I'm going to go inside and have a look.
0:33:12 > 0:33:14Wow! Do you know what?
0:33:14 > 0:33:17When you walk into a place like this that is closed up,
0:33:17 > 0:33:21got no life in it, it feels incredibly sad
0:33:21 > 0:33:26to see an old derelict pub and restaurant just left like this.
0:33:26 > 0:33:29You can see the restaurant was obviously over here.
0:33:29 > 0:33:31Along here, the bar area.
0:33:31 > 0:33:33But it really feels dead.
0:33:33 > 0:33:36There are bits and pieces left over from fun times.
0:33:36 > 0:33:40I think somebody has even left an old pint of beer.
0:33:40 > 0:33:42It looks pretty disgusting.
0:33:42 > 0:33:45This place is going to take an awful lot of money
0:33:45 > 0:33:48and an awful lot of work to get it up and running again.
0:33:48 > 0:33:51But the day those boards come off the windows
0:33:51 > 0:33:56and the light floods in, this place will be alive again.
0:33:56 > 0:34:00And I for one would love to be here on that day.
0:34:05 > 0:34:09'Yep, the bar has seen better days but the space is enormous.
0:34:09 > 0:34:12'And as if that wasn't enough, through the back of the bar
0:34:12 > 0:34:16'there's a large kitchen which needs new appliances and a bit of a scrub.
0:34:18 > 0:34:21'And under the bar there's a real surprise.
0:34:21 > 0:34:25'A huge cellar that runs the whole length of the ground floor
0:34:25 > 0:34:28'and with all the kit you need to pour your first pint in here.
0:34:30 > 0:34:33'Upstairs, there is a long function suite,
0:34:33 > 0:34:36'complete with bar and two sets of toilets
0:34:36 > 0:34:39'and you might have to spend a penny or two bringing them up to standard!
0:34:39 > 0:34:44'But that doesn't compare to the cost of issues at the end of the corridor.
0:34:44 > 0:34:48'This room will have to be made safe and a new ceiling put in.'
0:34:50 > 0:34:51'And it keeps going.
0:34:51 > 0:34:55'I am off exploring on the top floor, where there is a flat
0:34:55 > 0:34:59'perfect for a pub manager, which sits across the building next door.'
0:35:01 > 0:35:05'There is plenty of space, a small bathroom, but sadly there's
0:35:05 > 0:35:09'lots of plastering and structural work needed up here also.
0:35:09 > 0:35:11'I am going to head back downstairs
0:35:11 > 0:35:13'before I get completely lost in here!'
0:35:15 > 0:35:17'On the landing, there is a small office too.'
0:35:19 > 0:35:24'All this for a guide price of 100 to 110,000 is pretty amazing.
0:35:24 > 0:35:26'But there is a problem.
0:35:26 > 0:35:31'The Grade Two listing affects inside and out so you can't put up
0:35:31 > 0:35:35'a burglar alarm or a satellite dish without permission,
0:35:35 > 0:35:38'never mind swinging a sledgehammer in here.
0:35:38 > 0:35:41'So it might be appealing to convert this into flats, but even if you
0:35:41 > 0:35:45'do get around the problem of the listing, there is another issue.'
0:35:47 > 0:35:52Well, this property is located pretty much in a business, not residential area.
0:35:52 > 0:35:54The local planning office may have issues with
0:35:54 > 0:35:59the lack of allocated parking for residents of any flats built here.
0:35:59 > 0:36:03Added to that, this old pub is right next to the Old Cottage car park,
0:36:03 > 0:36:06which is due to become one of the main car parking areas
0:36:06 > 0:36:08of the visitors of the new Turner Gallery.
0:36:08 > 0:36:13So everyone who parks here will be walking right past here.
0:36:13 > 0:36:17That sort of passing trade is heaven for a commercial business,
0:36:17 > 0:36:20so I think keeping this pub or restaurant, which will serve
0:36:20 > 0:36:25the needs of visiting tourists, is definitely the way to go.
0:36:25 > 0:36:29'Clearly, there is a lot of potential for a new business venture.
0:36:29 > 0:36:32'But just how tricky can this Grade Two listing prove to be?
0:36:32 > 0:36:34A local estate agent can explain.
0:36:36 > 0:36:39You do have to get quite serious permissions
0:36:39 > 0:36:42but the other benefit of it being Grade Two listed
0:36:42 > 0:36:44is there will be grants available to bring it back
0:36:44 > 0:36:46to its original condition.
0:36:46 > 0:36:50Many years ago, this was quite a thriving restaurant and pub.
0:36:50 > 0:36:54I have actually had a few nights here myself, which has been quite good fun.
0:36:54 > 0:36:57Also, it was always very good for Sunday lunch.
0:36:57 > 0:36:59I think this would make an ideal art gallery,
0:36:59 > 0:37:03perhaps blended with an upmarket coffee shop or restaurant.
0:37:04 > 0:37:09'All good ideas, but what value does it have as a commercial premises?
0:37:09 > 0:37:13'And bear in mind, the agent thinks your development budget
0:37:13 > 0:37:15'might be in the region of £60,000.'
0:37:18 > 0:37:21If it was brought back to its original condition
0:37:21 > 0:37:26and refurbished, I think you could achieve in the region of £160,000.
0:37:26 > 0:37:31If this property was refurbished and made into, for example,
0:37:31 > 0:37:33a bar or restaurant, you could achieve
0:37:33 > 0:37:37a sort of rental of around about 12 to 15,000 per annum.
0:37:37 > 0:37:42Whoever takes on this property is taking on a project and a half.
0:37:42 > 0:37:44Not only is it a major renovation,
0:37:44 > 0:37:47but you've got that Grade Two listing to consider.
0:37:47 > 0:37:49That really could slow up restoration work.
0:37:49 > 0:37:55But it's in a fantastic spot, it's close to the new Turner Gallery and it's on the high street.
0:37:55 > 0:37:58So who fancied becoming the landlord of the Old Cottage pub?
0:37:58 > 0:38:01Let's find out and head to auction.
0:38:01 > 0:38:05It's close to the harbour, loads of accommodation over four floors,
0:38:05 > 0:38:08stunning looking building, lots of potential there.
0:38:08 > 0:38:10Where are you going to bid me?
0:38:10 > 0:38:12Start where? 100-110?
0:38:12 > 0:38:14Coming in at 100,000 anywhere?
0:38:14 > 0:38:16£100,000 - you know it's worth it.
0:38:16 > 0:38:17100,000 can I see?
0:38:17 > 0:38:19Give me 90 then.
0:38:19 > 0:38:2190 to get me on the way. 85 I'll take
0:38:21 > 0:38:24and it's a lot of building for £85,000. Real good spec.
0:38:24 > 0:38:28£85,000 bid I've got - on the right at the back.
0:38:28 > 0:38:2985,000 I've got.
0:38:29 > 0:38:3090 I'm looking for now.
0:38:30 > 0:38:32£90,000 do I see?
0:38:32 > 0:38:36At £85,000 only and 90 I want, worth every penny of it.
0:38:36 > 0:38:38Are we all done at £85,000?
0:38:38 > 0:38:40With you, sir, at 85.
0:38:40 > 0:38:4190 I'm looking for.
0:38:41 > 0:38:43£90,000 bid I've got.
0:38:43 > 0:38:4792 may I say now? 92 may I say?
0:38:47 > 0:38:48At 92?
0:38:48 > 0:38:51I've got 90, it's in the room. 92 I'm looking for.
0:38:51 > 0:38:54I've got £90,000 on my left and I will sell for the first time...
0:38:55 > 0:38:58£90,000, you're going to miss it for the second time.
0:38:58 > 0:39:01Third and final time at £90,000...
0:39:01 > 0:39:03Bought yourself a pub, sir.
0:39:06 > 0:39:10At our auction, romantics who grabbed four fantastic floors
0:39:10 > 0:39:15for 90,000 - £10,000 less than the lower guide price -
0:39:15 > 0:39:18are David and his partner, Stephanie.
0:39:18 > 0:39:21David is retired, having been in the fire service,
0:39:21 > 0:39:23while Stephanie is an artist.
0:39:23 > 0:39:26So what persuaded them to purchase this pub?
0:39:27 > 0:39:29David, how did you find this place?
0:39:29 > 0:39:31Well, purely by chance, really.
0:39:31 > 0:39:34I was looking to enter my portfolio and I was going through,
0:39:34 > 0:39:37as you do, trawling through all the different lot numbers
0:39:37 > 0:39:39available for all the different companies
0:39:39 > 0:39:42very, very late one night- two or three o' clock in the morning -
0:39:42 > 0:39:44and the computer kind of found it for me, really.
0:39:44 > 0:39:47One minute it wouldn't turn off and the next minute it was on the page.
0:39:47 > 0:39:49So I started to read it. It was quite fluky.
0:39:49 > 0:39:51So you hadn't thought, "Oh, that looks good,
0:39:51 > 0:39:54- I'll have a little look at that." It found you.- Yeah, really.
0:39:54 > 0:39:56I mean, I was looking for residential property
0:39:56 > 0:39:59and ended up with a pub with...opportunities.
0:39:59 > 0:40:01So you weren't looking for a pub?
0:40:01 > 0:40:03- Both of you didn't think about starting a business?- No.
0:40:03 > 0:40:05No.
0:40:05 > 0:40:08- Nothing like that.- David...not long after we first met...
0:40:08 > 0:40:10he...sort of...
0:40:10 > 0:40:13We were both trying to figure out something we could do together.
0:40:13 > 0:40:15And this kind of just happened, didn't it?
0:40:15 > 0:40:18Yes, it was a gift, really, in several ways.
0:40:18 > 0:40:19Is that how you feel?
0:40:19 > 0:40:22That you've got it for an amazing price, it found you?
0:40:22 > 0:40:24I still can't believe nobody else was interested.
0:40:24 > 0:40:26Either I'm raving mad
0:40:26 > 0:40:29or there's a lot of people made a serious mistake.
0:40:30 > 0:40:32'Well, I don't think David's mad,
0:40:32 > 0:40:35'but they've certainly taken on a very big project.
0:40:35 > 0:40:37'And I'm intrigued by their plans.
0:40:37 > 0:40:39'Like I said, Stephanie is an artist
0:40:39 > 0:40:42'and I think their vision does have a creative twist.'
0:40:45 > 0:40:47It's not going to be a pub,
0:40:47 > 0:40:49it's not going to be a wine bar,
0:40:49 > 0:40:51it's not going to be a bistro or a cafe.
0:40:51 > 0:40:55It's kind of, the vision we've got for it, is a bit of all of that.
0:40:55 > 0:40:59And particularly, from an artistic...theme,
0:40:59 > 0:41:02you know, with what we've got planned for the cellar as it exists at the moment,
0:41:02 > 0:41:06and upstairs, we'd like to think they'll all, sort of, combine
0:41:06 > 0:41:09and it's just going to turn into, I hope,
0:41:09 > 0:41:11a really nice meeting place
0:41:11 > 0:41:12and a really unusual venue
0:41:12 > 0:41:15for people to share their skills and experiences.
0:41:15 > 0:41:17So you've brought some plans along with you today, haven't you?
0:41:17 > 0:41:19- Yes, I did them.- You did these?
0:41:19 > 0:41:23- So you've experience of drawing plans up?- Well, I now do!
0:41:23 > 0:41:27- Um...- Does being an artist mean you can put your hand to anything?
0:41:27 > 0:41:30- Yes, I can! - David, talk me through them.
0:41:30 > 0:41:31Yeah, this is the ground floor.
0:41:31 > 0:41:33As you see, the existing bar's right over here
0:41:33 > 0:41:36and takes up a huge amount of space on the ground floor.
0:41:36 > 0:41:38This is a nice free-form-shape bar here,
0:41:38 > 0:41:42and the plan is to move the access and egress
0:41:42 > 0:41:45from behind the bar at the moment to an accommodation staircase over here.
0:41:45 > 0:41:48And then, as we go downstairs...
0:41:49 > 0:41:51..we're going to have that opened up, just a few chairs,
0:41:51 > 0:41:53maybe a couple of tables and chairs,
0:41:53 > 0:41:57in order for people to go down with a glass of alcohol, a beverage,
0:41:57 > 0:42:01and just enjoy what could actually lean much more
0:42:01 > 0:42:03towards gallery space.
0:42:03 > 0:42:06So...artists can display their works down there,
0:42:06 > 0:42:08use the area down there for their own personal display.
0:42:08 > 0:42:10And, of course, the artists -
0:42:10 > 0:42:12and this is where we come to the first floor -
0:42:12 > 0:42:14they will be producing their work, hopefully, up there
0:42:14 > 0:42:18in one of seven different studios we're planning on developing.
0:42:19 > 0:42:21'The first floor that is currently the function suite
0:42:21 > 0:42:24'will become seven artist studios.
0:42:24 > 0:42:27'So that's a basement art gallery, a ground-floor bar,
0:42:27 > 0:42:30'the artist studios on the first floor AND
0:42:30 > 0:42:33'they want to renovate the top-floor flat.
0:42:33 > 0:42:36'So are this ambitious pair done yet?
0:42:36 > 0:42:38'Not by a long shot!'
0:42:38 > 0:42:40# Fame
0:42:40 > 0:42:44# Fame and ambition... #
0:42:44 > 0:42:47There's a...what was going to just be a manager's flat upstairs
0:42:47 > 0:42:51and we've had an extraordinary twist of good fortune AGAIN
0:42:51 > 0:42:54in that one of the council officers themselves
0:42:54 > 0:42:56hinted quite strongly -
0:42:56 > 0:42:58would I be prepared in the development
0:42:58 > 0:43:00to put the roof back that should be there?
0:43:00 > 0:43:03Which came as a bit of a shock, because we've got a flat roof
0:43:03 > 0:43:05and I didn't think it was in keeping with the rest of the street.
0:43:05 > 0:43:09What he's saying is would we be prepared to put the pitched roof back,
0:43:09 > 0:43:11the barn-style roof that should be there,
0:43:11 > 0:43:14if you look at the ones next door. It's going to be a flat.
0:43:14 > 0:43:17- So you are planning on adding a flat above this...- Yes.
0:43:17 > 0:43:21Yes, it means we can have a flat on top of the flat that we've got
0:43:21 > 0:43:25and they don't have to be necessarily connected to the rest of the building.
0:43:25 > 0:43:28The flats can be entirely separate from the rest of the building,
0:43:28 > 0:43:30doesn't have to be occupied by the manager,
0:43:30 > 0:43:34they can be a totally different, separate two units.
0:43:34 > 0:43:35And what's your budget then?
0:43:35 > 0:43:37We haven't, to be honest, set a figure.
0:43:37 > 0:43:39I know that sounds reckless...
0:43:39 > 0:43:41It's reckless and I want to hear a figure!
0:43:41 > 0:43:45'I did eventually get David to go on the record
0:43:45 > 0:43:48'saying that the budget would be £100,000.
0:43:48 > 0:43:52'Stephanie thinks that the project will take a year in total.
0:43:52 > 0:43:54'But, with several commercial areas,
0:43:54 > 0:43:57'have they worked out when they'll be in profit?'
0:43:57 > 0:43:59It sounds a bit ridiculous,
0:43:59 > 0:44:02but the fact is that because of what we paid for it
0:44:02 > 0:44:04and the studio floor level when we create those
0:44:04 > 0:44:06and let them out on a monthly basis,
0:44:06 > 0:44:09that will pay for the entire building.
0:44:09 > 0:44:11And the daft thing is that, really,
0:44:11 > 0:44:13we only have to sell a sandwich in the commercial areas
0:44:13 > 0:44:15and we're in profit.
0:44:15 > 0:44:18So one sandwich a day and you're in profit?
0:44:18 > 0:44:20Sounds flippant, but that's pretty much it, you know.
0:44:20 > 0:44:22I'm really excited.
0:44:22 > 0:44:24Can't wait to hear all the news. Good luck, both of you.
0:44:24 > 0:44:26- It's been lovely to meet you, Steph, - You, too.- Well done.
0:44:26 > 0:44:30- And you, David, thank you. - Nice to meet you.- Thank you.
0:44:30 > 0:44:33I think David and Stephanie have got fantastic plans for this old pub.
0:44:33 > 0:44:36I think I'm as excited as they are.
0:44:36 > 0:44:38And with the Turner Gallery opening up,
0:44:38 > 0:44:40well, they could really be on to a winner with their
0:44:40 > 0:44:43art gallery-cum-restaurant-cum-bar concept.
0:44:43 > 0:44:47And, if David gets permission for that extra flat on the roof,
0:44:47 > 0:44:51this could be one profitable venture.
0:44:51 > 0:44:53Find out what happens later on in the programme.
0:44:57 > 0:45:00Well, one down, two to go. We've seen how one developer did.
0:45:00 > 0:45:02What about the other two? How did they get on?
0:45:02 > 0:45:05Hm-mm. Are they struggling or are they flushed with success?
0:45:05 > 0:45:07Let's see how they got on.
0:45:09 > 0:45:12Back now to Ferndale in South Wales
0:45:12 > 0:45:14and this three-bed maisonette
0:45:14 > 0:45:17that Sharon bought at auction for £23,000.
0:45:19 > 0:45:22Sharon was undeterred by some pretty nasty damp
0:45:22 > 0:45:23on the lower-ground-floor
0:45:23 > 0:45:26and was all set to totally revamp the place -
0:45:26 > 0:45:29more or less single-handedly.
0:45:29 > 0:45:33I do all of the work myself except electrics and gas.
0:45:33 > 0:45:36I do the kitchens, the bathrooms...
0:45:36 > 0:45:38- What fitting those?- Yes.
0:45:38 > 0:45:41And much experience in that field? I mean, where does that come from?
0:45:41 > 0:45:44I've always done it, I've always done it since the day I got married.
0:45:44 > 0:45:49I've always done the tiling and the decorating, so...yes.
0:45:49 > 0:45:52- And you still manage to have nice nails.- Yes.
0:45:52 > 0:45:54that's a good trick, if you can do it.
0:45:55 > 0:45:59Sharon gave herself a budget of £10,000- £15,000
0:45:59 > 0:46:01and a six-month timescale.
0:46:01 > 0:46:04Almost nine months after our first visit, we are back
0:46:04 > 0:46:06to see how Sharon and those nails got on.
0:46:06 > 0:46:08MUSIC: Manicure by Lady Gaga
0:46:08 > 0:46:10# I'm gonna be manicured
0:46:10 > 0:46:12# You wanna be manicured
0:46:12 > 0:46:14# Ma-ma-ma-manicure
0:46:14 > 0:46:16# She wanna be MANICURED
0:46:16 > 0:46:17# Salon's enough for her
0:46:17 > 0:46:19# Not to feel so insecure
0:46:19 > 0:46:20# Ma-ma-ma-manicure
0:46:20 > 0:46:22# She wanna be take care'n of! #
0:46:24 > 0:46:25It all looks highly polished
0:46:25 > 0:46:28and not a nasty damp patch anywhere to be seen.
0:46:30 > 0:46:32There's a new central heating system,
0:46:32 > 0:46:34it's been rewired,
0:46:34 > 0:46:36the damp has been sorted,
0:46:36 > 0:46:39we took all the render off the outside to the house.
0:46:39 > 0:46:41All the radiators were leaking
0:46:41 > 0:46:44so all the wood on this floor had to be changed.
0:46:44 > 0:46:47There's a new bathroom, new kitchen,
0:46:47 > 0:46:49front door, the back door have been replaced,
0:46:49 > 0:46:53any windows that weren't double-glazed have been replaced.
0:46:53 > 0:46:55But has Sharon been true to her word
0:46:55 > 0:46:58and done the lion's share of the work herself?
0:46:59 > 0:47:02I took the render off the front of the house,
0:47:02 > 0:47:06I painted the front of the house as well as right through both floors.
0:47:06 > 0:47:11I tiled, done the tiling in the kitchen and the bathroom,
0:47:11 > 0:47:14the laying of the laminate flooring, the kitchen...
0:47:14 > 0:47:16most of the bathroom.
0:47:16 > 0:47:18I don't do the plumbing,
0:47:18 > 0:47:21I don't do the electrics, so we had an electrician in to do that.
0:47:21 > 0:47:25I've built the gates and anything else in between.
0:47:27 > 0:47:30And what has that done for her nails?
0:47:30 > 0:47:33Nails suffered the last week, I'm afraid.
0:47:33 > 0:47:35They've been fine up to now,
0:47:35 > 0:47:38but not to worry, they soon grow back!
0:47:38 > 0:47:40OK, but a little birdie tells me
0:47:40 > 0:47:43that Sharon may have broken more than a couple of nails
0:47:43 > 0:47:45doing the work.
0:47:45 > 0:47:47I did fall off a windowsill,
0:47:47 > 0:47:49resulting in three broken ribs,
0:47:49 > 0:47:52a broken arm, a broken wrist and a dislocated shoulder.
0:47:52 > 0:47:56It did hold the work up for eight weeks,
0:47:56 > 0:47:59while I was in a plaster cast.
0:47:59 > 0:48:01And that's why we were a little bit longer finishing
0:48:01 > 0:48:03than I'd liked to have been.
0:48:03 > 0:48:05Ouch!
0:48:05 > 0:48:09Sharon's tumble has meant that it's taken the best part of nine months
0:48:09 > 0:48:10to complete the work.
0:48:10 > 0:48:14But what's become of her £10,000-£15,000 budget?
0:48:14 > 0:48:17It came in at about 9,600.
0:48:17 > 0:48:20I did manage to do all the jobs that I wanted to do.
0:48:20 > 0:48:22And doing most of the work yourself,
0:48:22 > 0:48:27you do find that you save 30% of your costs anyway.
0:48:27 > 0:48:32And I am quite hands-on, so I did make a 30% saving on that budget.
0:48:32 > 0:48:34So, yes, it turned out well for me.
0:48:35 > 0:48:36That's very impressive.
0:48:36 > 0:48:39And it's not as if Sharon has cut corners on this one, either.
0:48:41 > 0:48:44The kitchen wasn't bad, but it wasn't good, either.
0:48:44 > 0:48:46It was just OK.
0:48:46 > 0:48:48When I'm doing properties I always think,
0:48:48 > 0:48:51would I really want to cook in this kitchen?
0:48:51 > 0:48:54And that's the basis that I do the kitchens and the bathrooms.
0:48:54 > 0:48:57So we changed the bathrooms and the kitchens, as well.
0:48:59 > 0:49:02Sharon's original plan was to keep the maisonette
0:49:02 > 0:49:05and build up a portfolio for her grandchildren to enjoy
0:49:05 > 0:49:06in later life.
0:49:06 > 0:49:08Is that still the case?
0:49:08 > 0:49:11I was thinking of renting it,
0:49:11 > 0:49:13but I've enjoyed doing this one so much
0:49:13 > 0:49:17that I think I may sell and be back in the auctions next month.
0:49:19 > 0:49:22So...what do two local estate agents make of the work?
0:49:22 > 0:49:26First up, the agent who the maisonette before work commenced.
0:49:27 > 0:49:30Last time I was here at this property, I did notice quite a lot of damp.
0:49:30 > 0:49:32It was pretty obvious, it was in nearly every room.
0:49:32 > 0:49:34Most of the external walls were damp.
0:49:34 > 0:49:37I've come back again and it's gone.
0:49:37 > 0:49:40The property's been renovated to a very good standard.
0:49:40 > 0:49:44Lovely bathroom upstairs, nice kitchen
0:49:44 > 0:49:46and good-sized rooms.
0:49:46 > 0:49:49And if Sharon decided to rent the property out,
0:49:49 > 0:49:50what kind of return might she make?
0:49:52 > 0:49:54If we were going to market this property to rent,
0:49:54 > 0:49:58I would try and rent this property for £400 per calendar month.
0:49:58 > 0:50:01I would ask for £375 per calendar month.
0:50:03 > 0:50:06Those rental valuations could bring in a very healthy yield
0:50:06 > 0:50:08of around the 14% mark.
0:50:09 > 0:50:13But what about Sharon's preferred option, the resale market?
0:50:13 > 0:50:16I think this property could easily achieve 45,000,
0:50:16 > 0:50:19I'd probably try to put it on for £55,000
0:50:19 > 0:50:21and try and take £50,000 if we could.
0:50:21 > 0:50:25If I was to market this property with a view to selling it,
0:50:25 > 0:50:27I would market it as £50,000.
0:50:28 > 0:50:32A sale at 50,000 would give Sharon a very tidy profit
0:50:32 > 0:50:36before tax and expenses of over £17,000.
0:50:37 > 0:50:39I'm really pleased the way it turned out.
0:50:39 > 0:50:42I don't do it for profit,
0:50:42 > 0:50:43I do it for the challenge
0:50:43 > 0:50:45and I've really enjoyed doing it
0:50:45 > 0:50:47and I am really pleased with the outcome.
0:50:47 > 0:50:49MUSIC: Money On My Mind by Sam Smith
0:50:49 > 0:50:50# No money on my mind
0:50:50 > 0:50:53# No, I have no money on my mind
0:50:53 > 0:50:56# Just love. #
0:50:56 > 0:50:59So how long till we see Sharon back at the auction?
0:51:00 > 0:51:04I'm going to take a month off now and spend it with my family,
0:51:04 > 0:51:06cos they haven't seen a lot of me.
0:51:06 > 0:51:08I'm going to enjoy my grandchildren
0:51:08 > 0:51:10and my children for the next month,
0:51:10 > 0:51:13but the following month I'll probably be back at the auction house.
0:51:18 > 0:51:21Back now to Margate and this former pub,
0:51:21 > 0:51:23which sprawled over four floors.
0:51:23 > 0:51:28The Grade II listed pub was bought at auction in 2010
0:51:28 > 0:51:29for £90,000
0:51:29 > 0:51:32by retired fireman-turned-property-developer
0:51:32 > 0:51:35David who, with the help of his artist partner Stephanie,
0:51:35 > 0:51:38had grand plans for the building.
0:51:38 > 0:51:40With a bar and a kitchen on the ground floor,
0:51:40 > 0:51:43gallery space in the basement
0:51:43 > 0:51:45and seven artists studios on the first floor.
0:51:45 > 0:51:48It's just going to turn into, I hope, you know,
0:51:48 > 0:51:51a really nice meeting place and a really unusual venue
0:51:51 > 0:51:53for people to share their skills and experiences.
0:51:53 > 0:51:55If that's not enough,
0:51:55 > 0:51:58they were also planning to overhaul the manager's flat
0:51:58 > 0:52:01and then add a whole new floor above that,
0:52:01 > 0:52:02with a second flat.
0:52:02 > 0:52:05The flats can be entirely separate from the rest of the building,
0:52:05 > 0:52:07doesn't have to be occupied by the manager,
0:52:07 > 0:52:10they can be a totally different, separate two units.
0:52:10 > 0:52:13Despite the building's Grade II listing,
0:52:13 > 0:52:16David and Stephanie were planning on spending just one year
0:52:16 > 0:52:19and £100,000 on all the work.
0:52:19 > 0:52:22Almost five years after our first visit,
0:52:22 > 0:52:25the Turner Contemporary Gallery is up and running.
0:52:25 > 0:52:28But have David and Stephanie turned the old pub
0:52:28 > 0:52:30into a Turner-esque masterpiece?
0:52:30 > 0:52:32MUSIC: Turn! Turn! Turn! by The Byrds
0:52:32 > 0:52:36# To every thing, turn, turn, turn
0:52:36 > 0:52:41# There is a season, turn, turn, turn
0:52:41 > 0:52:47# And a time to every purpose under heaven. #
0:52:49 > 0:52:51So work has only just started!
0:52:51 > 0:52:55Wranglings with the council over health and safety and access issues
0:52:55 > 0:52:59have meant that they only started clearing the site four weeks ago!
0:52:59 > 0:53:02But in the five years or so since we were first here,
0:53:02 > 0:53:06David and Stephanie have actually changed their plans for the old pub.
0:53:09 > 0:53:13We were going to have art studios on the upper floor,
0:53:13 > 0:53:16but we'd like very much to incorporate
0:53:16 > 0:53:18the new movement towards
0:53:18 > 0:53:21very special artisan
0:53:21 > 0:53:23real ales
0:53:23 > 0:53:26and to use the bar as an outlet for that,
0:53:26 > 0:53:29as well as having a microbrewery in the basement,
0:53:29 > 0:53:33which could actually supply locally, as well,
0:53:33 > 0:53:35all with locally sourced ingredients.
0:53:35 > 0:53:38So, I think, we've had to use the space, really,
0:53:38 > 0:53:41that we had planned to use for art studios,
0:53:41 > 0:53:44in order to store the necessary bottles and casks for the brewery
0:53:44 > 0:53:46in the basement.
0:53:46 > 0:53:50'With the council on side, work can commence on the new project now,
0:53:50 > 0:53:55'but stripping the building back has revealed some interesting finds.
0:53:55 > 0:53:58'A railway timetable from 1902
0:53:58 > 0:54:01'and a fireplace from much, much earlier.'
0:54:01 > 0:54:04Well, this is the area of the back of the old kitchen
0:54:04 > 0:54:08and in front of this here was the old gas cooker,
0:54:08 > 0:54:10absolutely gorgeous.
0:54:10 > 0:54:13According to the local authority, when they saw this they said
0:54:13 > 0:54:16that the only one locally that they know of is in a pub
0:54:16 > 0:54:19not very far from here - and that's why they can date it so accurately.
0:54:19 > 0:54:22And they are convinced it is something in the order of 1650
0:54:22 > 0:54:25and it's a wonderful, wonderful find.
0:54:26 > 0:54:28Yes, a wonderful find indeed.
0:54:28 > 0:54:30Not so wonderful is some of the woodwork exposed
0:54:30 > 0:54:32in the stripping out.
0:54:32 > 0:54:35Clearly, there's a good deal of restoration work to do here,
0:54:35 > 0:54:39but on top of what was the old manager's one-bed flat,
0:54:39 > 0:54:43David is still keen to create a whole new studio flat.
0:54:44 > 0:54:47That flat on the very top,
0:54:47 > 0:54:50we'd like to keep for our own private use
0:54:50 > 0:54:53and the views from the very top flat
0:54:53 > 0:54:55should be quite spectacular.
0:54:55 > 0:54:58So, a microbrewery to come in the basement,
0:54:58 > 0:55:00a bar on the ground-floor,
0:55:00 > 0:55:02storage and two flats above that.
0:55:02 > 0:55:04Now that they've started,
0:55:04 > 0:55:06how long does David think it will take to get the whole thing
0:55:06 > 0:55:08up and running?
0:55:08 > 0:55:10We only started about four weeks ago,
0:55:10 > 0:55:13but what we've achieved in four weeks is indicating very clearly
0:55:13 > 0:55:18that we could have the brewery open and running in the basement
0:55:18 > 0:55:21within six, worst case scenario, perhaps nine months
0:55:21 > 0:55:23and we think that the entire building
0:55:23 > 0:55:26could now be finished within a year.
0:55:26 > 0:55:29And does he think they can stick to their £100,000 budget?
0:55:31 > 0:55:33Thanks to the help we've been getting
0:55:33 > 0:55:36both from the local authority and personal friends and family,
0:55:36 > 0:55:40I think I can honestly say I'll be well within that original budget.
0:55:40 > 0:55:44In order to strip the building to look at the problems
0:55:44 > 0:55:46and what we really have to face,
0:55:46 > 0:55:49I've probably only spent £2,000 or £3,000 so far,
0:55:49 > 0:55:51which is an extraordinarily low sum
0:55:51 > 0:55:54and given the amount of work we've done in such a short space of time.
0:55:56 > 0:55:59With five years having passed since our last visit,
0:55:59 > 0:56:03we asked along two local property experts to get their thoughts.
0:56:03 > 0:56:07First up, the agent who saw the pub before work commenced.
0:56:10 > 0:56:12Since we last came to look at the property,
0:56:12 > 0:56:14there's been substantial changes.
0:56:14 > 0:56:17Obviously, they're looking to completely refurbish the property
0:56:17 > 0:56:19starting from scratch,
0:56:19 > 0:56:22and you can really see that from the works that they've done so far.
0:56:22 > 0:56:25I've looked at the plans for the overall building.
0:56:25 > 0:56:28The design is good, they're making very good use of the space,
0:56:28 > 0:56:31particularly I like what they are doing with the top floor,
0:56:31 > 0:56:34which is going to have some fantastic views across the beach
0:56:34 > 0:56:36and down to the Turner Centre and across the town.
0:56:36 > 0:56:37So, overall, very interesting.
0:56:38 > 0:56:41Clearly, the building is just a shell at the moment,
0:56:41 > 0:56:44and at this stage it's impossible to put a value
0:56:44 > 0:56:47on the businesses that David plans to start up here.
0:56:47 > 0:56:50But, the estate agent reckons that from the plans,
0:56:50 > 0:56:53the two flats could generate a combined rental income
0:56:53 > 0:56:56of between £800 and £1,100 per calendar month.
0:56:58 > 0:57:02Or they might sell for between £60,000 and £100,000 each.
0:57:02 > 0:57:04So there's money to be made there.
0:57:04 > 0:57:06Grateful for the information,
0:57:06 > 0:57:09but no interest to me at all for the foreseeable future.
0:57:09 > 0:57:14In fact, David has already been offered £250,000
0:57:14 > 0:57:16for the building as it stands.
0:57:16 > 0:57:19But he's in it for the long term and he's committed
0:57:19 > 0:57:22to making a success of the microbrewery, bar and flats.
0:57:23 > 0:57:27The most important thing of all of this
0:57:27 > 0:57:30is that it's not something that you get the opportunity to do every day.
0:57:30 > 0:57:32In fact, once in a lifetime, perhaps,
0:57:32 > 0:57:36to be given the opportunity to turn a very old building -
0:57:36 > 0:57:40crying out for help - into something magical again.
0:57:40 > 0:57:43And from 1650, the days of Oliver Cromwell,
0:57:43 > 0:57:45this building deserves to come back.
0:57:45 > 0:57:48And fingers crossed a year or so from now,
0:57:48 > 0:57:51we CAN come back and see the finished article.
0:57:58 > 0:58:02Well, that's all we have time for today, but there are many more projects across the country.
0:58:02 > 0:58:04Yes, and we'll have a few of those for you next time here
0:58:04 > 0:58:06on Homes Under The Hammer.
0:58:06 > 0:58:08- We'll see you, then. - Goodbye.- Goodbye.