Episode 69 Homes Under the Hammer

Hello, it is always lovely to hear that people have been

inspired by the show,

so much so that

they've then gone off and bought at auction.

-Yes, we often hear that.

-Yes, and it's great to hear

that you've followed our advice, and followed it to the letter.

Nah, nah, we don't hear that as often as we would like.

But if you have been inspired,

maybe you are thinking about buying your next home under the hammer.

Well, if you're thinking about buying property,

then your local auction house might be a good place to start.

-Yes, well, that's what today's buyers thought.

-Mmm.

What did they come away with? Let's take a look.

All features great and small today,

starting at this two-bed mid-terrace near Canterbury, Kent.

That is the smallest roll-top bath I think I've ever seen.

This three-bed terrace in Crewe, Cheshire, has a bonus at the back.

A really nice-sized garden, that's not for everyone's taste

cos it's very low-maintenance, i.e. mostly gravel.

This two-bed terrace in Rusholme, Manchester, has some half measures.

They've lowered the ceiling, only half the ceiling.

What they've done that for, I don't know.

All these properties have been sold at auction.

We'll find out who bought them, and what they paid for them

when they went under the hammer.

With you selling...

The skyline of this historic city of Canterbury in East Kent

is dominated by the oldest cathedral in England.

It's just one of the reasons that this is a desirable place to live.

Another is the easy access to the coast.

But if living in the middle of a city isn't for you,

I might just have a different type of Canterbury tale.

I've driven ten minutes from the centre of Canterbury to

a small village called Chartham Hatch.

It's a really pretty semi-rural spot,

with lots of open space, you've got woodland and orchards over there.

Now, living somewhere like this will give you a slower pace of life,

so I'm going to explore further,

and find out if I do want a bite of Chartham Hatch's apples.

# Don't be suspicious of Golden Delicious

# Whatever your granny might say

-# They're only

-Apples

# Red and green... #

But it's actually a terrace that I'm here to see -

a two-bed terrace, to be precise -

and it had a guide price of 110 to £115,000.

Now, that is a yellow front door if ever I've seen one! Let's head in.

Well, I'm glad that bright yellow colour scheme does not

continue throughout the house! Whoa!

OK, sadly, you do walk straight in, there's no porch,

so you're straight into the lounge.

You can see it hasn't been touched in years,

there's no central heating in here. You can see, look,

the damp has been penetrating through the wall.

Still got the old coal fire down there.

Not such a huge space as I was expecting, and through here,

well, looking up the stairs, there is a big old tank.

We'll talk more about that later, I think.

Through into the second room.

Now, it's a scullery, it's a kitchen, it's really dated.

I mean, look at this old sink, wow! And through here, the bathroom.

That is the smallest roll-top bath I think I've ever seen.

It's quite cute. It sort of looks like it should belong

in a doll's house.

So, yes, you need to do a lot of work, but there's something

about it that just feels cute, cottagey, homely.

I really like it.

Yeah, well,

upstairs at the front of the house it's a good-sized double

bedroom, and a smaller one at the back,

but probably big enough for a small double, I reckon.

All in all, like I said, I just like it, it's homely.

# Homely girl, she was so homely

# You beautiful woman

-# Oh, yeah

-Homely girl... #

Homely it may be, but the kitchen area

is definitely too tiny for modern living.

Take away that rather tired lean-to, and there's certainly room

for a single-storey extension at the very least,

maybe even two storeys.

Now, remember I mentioned that tank earlier?

Now the reason that you can see it is because, well,

there's no loft space.

Coming out the back here, I'm going to tell you why.

Just have a look up there.

I know it's not that easy to see, but this property has got

a flat roof, and that is why there is no loft.

Now, when this house was built, a flat roof

would have been much cheaper to fit, and now it's there,

well, it does have its negatives, I'm afraid.

In general, there will be more maintenance costs, and it won't

last as long as a sloped roof, as it is more vulnerable to harsh weather.

Well, a lot depends on the materials used,

but flat roofs can crack and split, if frozen water thaws.

Heat can also cause blistering, if air is trapped in the felt.

It can all be avoided with a good maintenance regime. However,

it's for reasons like these that some lenders will insist on a roof

inspection before committing to granting a mortgage.

We invited a local estate agent along to give us their opinion

on the cottage, its potential, and the flat roofs in the area.

Some people don't, really don't like flat roofs.

Other people aren't scared by them.

There's lots of flat roofs.

I've seen many over the years.

If they're well maintained,

they're absolutely fine.

They do reach a tipping point,

and once that tipping point has passed,

they can be troublesome, but any new flat roof these days will

come with at least a 25-year guarantee.

So if it needs a new flat roof,

that's something that's going to have to be built into the cost.

With a guide price of 100 to a £115,000,

what resell value could you expect once the property is renovated?

I would introduce this property to the market for

guide price of 175 to £180,000.

And how is that value affected with possible extensions?

I think if we were to have a single-storey extension

on the property,

we can have a guide price of about £190,000.

If we were to have a two-storey extension,

I really wouldn't want to introduce it with more than £200,000,

because this road would have a ceiling.

And what about the rental figures?

I would rent this property in the region of

£800 to £825 per calendar month.

And with a single-storey extension?

If we were to extend the property,

I would like to value it at £900 to £925 per calendar month.

Yes, there are a few negatives with this property,

but despite the roof, well, it hasn't left me feeling flat.

It's quite cute, this little house.

And with a bit, or maybe, a lot of work,

I think this could become a really nice home for somebody.

Who wanted to take this on? Let's head to auction, and find out.

We go now to

Chartham Hatch, mid-terrace house, some

double-glazed windows,

improvement and refurbishment required.

Got a guide of 110 to 115, start me at 110.

105,000 then? In your hands, 105 anywhere?

Or £100,000? 100, £100,000 I'm bid.

Sorry to 102, I've got 100 against you. 102? 102.

102, I'm bid on my left.

At 102, and 104, and 104, and 106, and 108.

Bids rapidly climb to the top of the guide price band

where we rejoin at 115,000.

At 115,000, then for the first time, bids on my left,

116 in a fresh place, 117?

No, at £116,000 I'm bid.

Fresh place at a 116, 117...

A new bidder joins the race,

which, in £2,000 steps, reaches £122,000,

where we rejoin again.

£122,000 in the front, gentleman's bid.

Out on the flanks, so 122,000, are you all done?

-HAMMER BANGS

-Sold at 122,000. Well done, sir,

and your bidder's number is? M290.

The successful bid came from Bradley,

at the auction with his mum, Lynn.

He works for his dad's wholesale meat trading business,

but he's not a novice when it comes to refurbishment.

He's done extensive work at his own house in the past,

but feels it's time now to try it commercially.

I met them back at the village, in his new £122,000 purchase.

Guys, congratulations.

I love this area, just outside Canterbury, pretty little village.

-Who was it that found it?

-I found it.

It was at an auction, so I looked on their website

and it was one I'd noticed and wanted to look at,

so we viewed it a couple of times before we went to the auction.

So, who's bought it?

-Erm, my parents are the investors...

-We've financed Brad, yeah.

Yeah, and our project manager sorted out all the work for them

and everything, so...

-OK, so you've financed your son.

-Yes.

-You're going to be doing all the work.

-Yeah.

-Yeah.

When are you going to start this,

and what do you intend to do here, Brad?

I think we're going to start on Friday just by completely

gutting the whole house, including wiring and plumbing,

and then to start to refurb from there.

We're looking at putting a single-storey extension

-on the back to create a kitchen/dining-room.

-Right, OK.

And then completely refurb the whole house, central heating,

wiring and plumbing,

so it will be like a brand-new house inside when we've finished.

So, Lynn, what did you think when you

-first saw the property for the first time?

-Well, I didn't see the inside

-until today.

-Really?

-Yeah.

-This is the first time you've seen it?

-Yes.

-And what do you think now?

I think it's really lovely, really cute. It's got a lovely feel to it.

-Uh-huh.

-The added bonus was the garden...

-Right.

-..how large that is, which is going to be quite an advantage.

I looked at the deeds before we went to the auction, and I realised that

-it actually went all the way across the back of next door's.

-Yes, so

-you've actually got a bigger garden...

-Yeah, than next door's.

-And these are even terraced, as well.

-That was a cheeky little bonus for you.

-Yeah, it was great.

-It was, yeah.

-Fantastic.

The more, the merrier, yeah.

At present the lean-to extension at the back will be

replaced by Brad's single-storey extension,

in a similar style to his neighbour's,

which under permitted development, will be the width of the house plus

three metres into the rear garden,

still leaving a good-sized garden.

Generally, permitted development rules have eased the planning

process, but remember building regulations still apply.

And what about off-street parking? Are you going to create any of that?

Yeah, I've put in planning to convert the front

-garden into a driveway for one car.

-Fantastic.

That's what this place really does need because, at the moment,

-you can't bring your car to the door.

-No.

-No.

And it's the only house in this road

-that hasn't got it, so I'm very hopeful that we'll get that.

-Now,

Brad, I know you're busy because you're a meat man, aren't you?

-A meat trader, yeah.

-Tell us a little bit more about that.

Well, I work for my dad. He's had the business now for 20-odd years,

and it's literally just a father-and-son business,

and yeah, he trades from home, and I just

run around and do whatever's needed, really.

So, how are you going to get the time to sort of

-pay attention to this property?

-Erm, I can do a lot of early days

and get back here for eight o'clock, nine o'clock in the morning

by starting at four.

-Is that starting at 4am?

-Yes.

So you'll start your meat business at 4am?

Not every day, but there are days that if that's needed,

-I've got that option.

-Wow.

-I'll just have to

go to bed a little bit earlier

for a few months, anyway, until this project's finished.

-So, you've got two jobs, two big jobs to do, now.

-Yeah, that's fine.

So, will you be on site here?

Yes, definitely, yeah.

And how much work will you be doing yourself?

I mean, there's only a certain extent I can do,

so obviously I'll be doing any labouring, erm, decorating,

project managing,

but obviously I'll call trades in, as and when they're needed.

So, what sort of budgets have you set?

Erm, 25,000 for a complete refurbishment

without the extension...

-Right.

-Add in a single-storey extension and we're

looking at another 15,000, which would take it up to 40, so...

OK. Now, have you done your maths?

Is it worthwhile spending money on this

and paying out for the extension?

Yeah, I think we can achieve the same value, the extra value,

by doing the extension or not,

but it makes it a lot more sellable doing the extension.

Obviously with the extension I feel it would be a

minimum of two months, maybe three months, in total.

And have it ready for the summer.

Yeah, just before the summer, so, it's a good time to sell.

-So, can you see any problems at all with this project?

-I don't like

-the flat roof, but it was hard to get away from that...

-No, he's got a

thing about this flat roof.

I'm glad you've said that

-because flat roofs are not ideal, let's put it that way.

-No,

-of course, no.

-What do you think you're going to do about that,

and how are you going to try and best preserve the flat roof?

Well, my cousins own a big roofing firm,

again so that's very handy,

and they're going to come down and inspect it for us,

and do any work necessary, and if it needs renewing,

then we'll renew it and we'll get a certificate,

you know, that's guaranteed for 25 years,

that we can sell on with the property.

So that would be peace of mind, that they know that it's OK.

Oh, guys, I'm really excited to see the outcome. I think it's a great

location, and it's a great property. Congratulations, and we look forward

to seeing it well done.

-Thank you very much.

-Thank you.

From meat to property. What a contrast!

Still, Brad does at least have some experience, as well as

the support from his mum, Lynn, and the rest of the family,

to help him along the way.

Now, I like their ideas for this house, but I hope that flat roof

doesn't prove too costly when they get it checked out.

Join me later in the programme and you can find out how they get on.

In 1831, Crewe was a small village of just 70 residents.

But with the arrival of the railway industry to the area,

just 40 years later, in 1871,

that population had swelled to 40,000.

And of course, that massive influx of workers needed housing, and if

you want to find yourself a period property,

Crewe is a pretty good place to look.

So, 20 minutes' drive from the motorway,

and a 15-minute walk from the train station,

is the property I'm here to see on this really nice street -

a three-bedroom mid-terrace, and a guide price of 80 to £85,000.

Now, I must have seen literally thousands of terraces in my time,

but there is something about this one that has an air of...

maybe a little bit more sophisticated about it.

Some of these houses had elegance and real quality,

as does this one, even though it might be a little jaded.

Yeah, you see, you certainly get that impression the moment

you walk through the front door.

Its high ceilings, its...

Some nice features, although it looks like

some of them have been removed, but... You know, things like

this staircase, if you were doing this house cheaply,

you wouldn't have put something as lovely as this in. So it was

a house for that sort of middle management,

probably in the railway industry of its day. So what have we got?

Eh, nice-sized front living room with that bay window which is

rather lovely, loads of light pouring in, so we like that.

The house in general has a really nice feel to it,

it doesn't smell, it seems to be in pretty good condition.

As you continue through, rear sitting room there,

and then into this kitchen.

I quite like the way this integrates with the other rooms, actually.

You come through it to get to that room there which makes that,

obviously, a prime candidate for a dining room, although...

Obviously, it's actually been blocked up here to create one

massive space front to back.

Dual aspect, living room/dining room,

would be something that I would definitely consider pretty early on.

But, I mean, yes, it's a starting point

and bearing in mind that guide price, it's fantastic!

Yes, 80 to £85,000 certainly seems

a good price for a decent chunk of

property, and it's great to see that

it retains some period character.

The more modern features, such as the gas fires

and the stone shelving

are less welcome additions

and, along with the textured ceilings, I think

have definitely had their day.

And the kitchen, well, you could keep it,

but I think this house deserves something a bit better,

and perhaps more contemporary.

So, upstairs, again, really nice high ceilings,

which is good news. Nice-sized family bathroom,

so that's good to see, although I think it would definitely benefit

from a new suite, and then through to the master at the front.

Built-in wardrobes, very dated, I'd get rid of that,

and that would make it feel even bigger, so all in all, lots

of space downstairs, lots of space upstairs.

What more could you want?

Definitely some work to be done here

but nothing stands out as a massive cause for concern.

There are some signs of damp, so a new damp-proof course might be

required, but this place has a feel and character about it that

I really like.

So, at the back of the property, and just glancing back, you can

see that, pretty much like inside and the front,

it's in really nice condition.

Possibly a bit of work on the roof, get that checked out, but what you

have got when you come out here, a really nice-sized garden. It's not

to everyone's taste cos it's very low-maintenance, i.e. mostly

gravel, but, you know, if you rented this place out,

then actually low-maintenance is good.

The other thing that's really good is the fact

that you've got this, which is a garage.

You've got access at the back there via a little lane, and I think

potential to open that up to create another parking space here.

So, all in all, inside good, outside good.

It's ticking a lot of boxes.

Yep, space inside and out, good location, off-road parking,

and potentially, a chance to improve and, hopefully, add value.

As a property-developing project,

this house has almost everything going for it.

# If you got it all... #

But, is it really good value for money?

What does a local property expert think of the house and its location?

Does that have everything you need?

# If you got it all... #

It's a really popular location.

It's close to loads and loads of amenities.

There's doctor's surgeries, schools

nearby, within walking distance, and literally 100 yards away,

there's loads of shops.

So, definitely a decent location. But what about the house itself?

Does it come up to scratch?

It's a nice big house.

It's got a lot of potential,

you could do various things with the property.

It does need quite a bit of money spending on it.

Erm, and I think you'd be looking to maybe look at the wiring,

possibly a damp course, that would need checking out. The garage is

a big selling point for the property, you know. There's a lot of

terraced properties around here that don't have that luxury, so it is

a big selling point for the property.

This house was guided at 80 to £85,000, so given a full schedule

of work, how much might it be worth on the rental and resell markets?

Once the property's refurbished,

I would say it would sell for around 100 to £105,000,

or the rental value would be around £500 to £550 per calendar month.

Well, there is nothing to dislike about this house,

really nice proportioned rooms,

really nice feel, good sized garden.

You know what? Plonk this in a fashionable part of London,

and you would be paying ten times the price.

But it's not in fashionable London, it's in Crewe,

which has so much going for it anyway, and here,

guide price 80 to £85,000,

wow, great one to go for.

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

Lot 101, back to Crewe.

Three-bedroom mid-terrace house,

two reception rooms, gardens and garage.

Going to say 75 to start. 75 bid, thank you. £75,000.

I'll go in ones on this. 76, yeah, 76,

77, 78,

79, 80.

At £80,000, against the back wall, at £80,000,

81, anywhere else?

If not, we're selling it at £80,000 for the first time,

£80,000 for the second time,

third and final time, £80,000.

You bought it, madam, well done.

Succeeding in getting her first auction purchase for 80 grand

was delighted Diana.

She had her eye on this property well before it went to auction,

but her offers were not accepted.

Now, she has managed to get it,

biding her time has paid off.

I met her to find out more.

# It's time, it's time

# It's time... #

-Diana, great to meet you.

-Likewise, Martin.

-Congratulations.

-Thank you.

-Nice house.

-I think it's lovely.

-Why did you want to buy it?

-Erm, because I'm adding to

my portfolio, and I like the location.

Crewe is a good place to buy, the housing stock is very good.

I think it's a good rental area. You've got the station just

down the road. It's five miles away from the motorway.

-Tick, tick, tick.

-Tick, tick, tick. Everything.

-And what led you into

being a property developing-type person?

Eh, it's something that I've always been interested in, actually,

I've always been a bit nosey. I like houses and

I think there's a shortage of housing, good housing,

and I've always had an interest in it, really.

When did the sort of buying bit start?

Three or four years ago now, but I had one.

I was very lucky, my grandmother gave me a house to start with...

-OK, that's nice.

-..and I did that up

under the instructions of my father, who

-made me build walls and everything.

-Oh, really?

Oh, yes, I was knocking up concrete and doing all of that.

-Oh, great! So you're handy as well, then.

-Eh, not so much now.

My builders told me not to come in here with a sledgehammer.

What do you mean, why? What were you going to do?

Eh, well, there's a little wall next door that I really don't like,

and some cupboards upstairs which I don't like,

and I was going to get my sledgehammer

and start wielding it around, but he was quite concerned.

-Why?

-About the house and me.

-Ah.

Cos it's glass, big glass sliding doors...

So he said, "Be very careful."

Oh, right, OK. So you've left the sledgehammer wherever you keep it?

-He's going to do it all now.

-He's...

-Yeah.

Hm, I think that's perhaps for the best.

I know sometimes it's sorely tempting to get

the sledgehammer out and start knocking stuff down.

Certainly in many a property I've visited taking that

approach would have definitely improved things,

but that's not the case here.

I think a little sympathetic renovation is more in order.

-So, what's the plan for it?

-I don't think it needs too much, to be fair.

I'm going to do a damp-proof course,

laminate flooring throughout the downstairs, new kitchen,

-new bathroom, new decoration, sort of stuff like that.

-Right.

Diana also intends putting in a combi boiler,

so a good and thorough renovation, which she

hopes will be done by her builder, Dave, in just ten weeks.

And for a decent budget of £14,000.

Then it'll be ready for rental to add to that portfolio.

Erm, so what's your background, then?

-Well, I've worked in the pharmaceutical industry for a number of years.

-Pharmaceuticals?

-Pharmaceuticals, yes.

-Medicines and stuff.

-Yeah, yeah.

-Selling drugs, legally, if you like.

-Legally selling drugs.

-Yes.

And that was until last year.

And then I decided, after my mother passed away,

I thought time for a change because I looked after my mum quite a bit,

-and I did a course, teaching English as a foreign language...

-OK.

-So, because I also have a passion for travel...

-OK.

So I could combine moving away and travelling

-and teaching English at the same time.

-Wow.

-So, have you been abroad with that?

-I'm teaching next week.

That'll be nice, for a couple of weeks,

and then I'm going on holiday to Dubai for a couple of weeks,

and then I'm going to Morocco for a week or so,

and then I'm going to Lisbon, and then...

-Wow.

-..Cuba, and then next year, I'm going to properly work.

And property is funding that lifestyle?

Well, it's going to be a backup, because I will get paid,

obviously, for teaching,

but I don't think the salary is anywhere near what

I was getting in the pharmaceutical industry,

and I always had intentions to retire early from the pharmaceutical

industry anyway, so this will definitely be a backup,

-and my pension plan.

-Well, it's lovely to meet you.

-Likewise.

-Congratulations.

-Thank you very much, Martin.

-Happy travels.

-I look forward to seeing how you get on.

-Yep, lovely.

Well, I think Diana's done really well with this property,

and she's doing what a lot of people dream of,

and that's using houses as a way of

funding a really lovely lifestyle.

How will she get on sorting this place out?

Well, getting somebody else to sort it out. You can find out

later in the show.

Coming up, show time in Manchester.

I've got to have a look.

The intrigue's killing me now.

Don't get too close to my backside, it's got bigger over the years.

HE GROANS

And it's good news for the nail bars in Crewe.

I really wanted to get a big sledgehammer out, but my builder

said, "No, you just stay away from everything."

Which is good cos I kept my nails.

We're heading back now to the

charming village of Chartham Hatch, near Canterbury, where I saw this

two-bedroom mid-terrace flat-roofed property bought for 122,000.

The front room had few surprises,

but the back room had plenty.

It's a scullery, it's a kitchen, it's really dated.

I mean, look at this old sink. Wow! And through here, the bathroom.

That is the smallest roll-top bath I think I've ever seen.

It's quite cute. It sort of looks

like it should belong in a doll's house.

There was a large back garden

extending behind the neighbour's property,

and a lean-to, ripe for knocking down to

make space to extend the house.

Meat trader Bradley bought it with the help of finance from his mum,

Lynn, with a view to either renting or reselling after refurbishment.

Bradley hoped to do most of the hard work himself.

So how are you going to get the time to,

sort of, pay attention to this property?

Erm, I can do a lot of early days

and get back here for eight o'clock, nine o'clock

in the morning by starting at four.

Is that starting at 4am?

Not every day, but there are days that if that's needed,

-I've got that option.

-Wow.

I'll just have to go to bed a little bit earlier for a few months,

anyway, until this project's finished.

Working like that I hoped Bradley would have the stamina to

make it through his three-month timescale.

We're about to find out, six months later.

And straightaway, there's a much more contemporary feel,

with central heating, double glazing, replastered walls,

and a complementary paint and flooring colour scheme.

I think there's only one way Bradley could have got through

an intense workload like this...

# Keep your head up

# Keep your heart strong

# No, no, no, no

# Keep your mind set

# Keep your head whole... #

Fitting for a doll's house?

The bathroom facilities are now worthy of a palace.

And if you're wondering how Bradley has achieved this TARDIS effect,

the old lean-to holds a clue.

It's no longer leaning.

Bradley's new kitchen extension is light, bright and spacious.

In the past, the kitchen was anything

but conducive to entertaining.

Now, whoever occupies this property will, I'm sure, think...

# Oh, oh, I'm happy to have you home

# Oh, yeah

# Keep your head up

# Keep your heart strong... #

Upstairs the larger bedroom is much more inviting,

clean and fresh.

Here is the heart of the house's central heating system.

# Keep your mind set in your ways... #

But its design isn't rooted in the past.

Being a modern boiler, it doesn't need a header tank to function.

Remember the one that was at the top of the stairs?

The second bedroom is also now uplifting and bright,

with a neutral grey carpet that runs throughout the upstairs rooms.

Some jobs did take longer than expected.

I've been waiting six months for this day,

really, to see it all finished. And here we are, so...

Now, I think he's done such a good job and it's just absolutely

brilliant, and I could actually live here myself.

After a few delays, there was no stopping Bradley.

At least we spent the first two months just stripping

everything out, cos there was nothing we could re-use, except

the original doors, so we just completely ripped the place apart.

Three months over on timescale, but what about budget?

The original budget was 40,000, we've come in £500 below,

but by the time it's all done, it should be bang-on 40,000 with

a testing and a snagging just to get everything perfect

for whoever buys the property.

Buys the property? So you're no longer thinking of renting, then?

Well, we sort of hummed and hawed about whether to rent it out or to

sell it and we're pretty sure, yeah,

it's going to go on the market.

We feel like, to do the first one, maybe

we should just take a profit and move onto the next one.

And were there any unforeseen parts to the renovation?

One thing we did do is sell two metres of land to the next-door

neighbour, because his kitchen window looks into our garden,

and he wanted a bigger garden.

So that seemed to work best for both parties to do that, so...

And having done two jobs for the best part of six months,

what's the over riding impression?

It's not as easy as it looks.

-LUCY CHUCKLES

-Easy or not, it's time

to find out if it's been worth it or not.

We called in two local estate agents who are both familiar

with the area and the type of property.

First up, the chap who's seen the house before.

When I first came here, the kitchen and bathroom

was a bit small and that would be a massive barrier

to anyone purchasing the property for their own use,

but now it's extended out.

The kitchen's nice and bright, he's done some fantastic work

with lighting and the kitchen, the bathroom looks great.

The standard of finish is brilliant.

I think it's absolutely immaculate.

I think people can move straight into it and I think everyone

will like that fact and that will, again, add to its appeal.

It's definitely an appealing property,

but is there a demand for this sort of thing?

This type of property will appeal to first-time buyers,

it may well also appeal to London buyers,

because we're now getting a lot of London buyers

coming down to this area.

A lot of times, these London buyers

may well buy this as a weekend cottage.

I think my target market for this property would be first-time buyers

looking to buy a home at the top end of their budget

and needs little or no work.

Or it could be an investor who wants to add a nice,

easy property to their portfolio,

which they don't have to worry about doing any work to it.

Bradley's mum financed the project.

£122,000 at the auction

and a further £40,000 for refurbishment.

She'll be keen to see a profit on her £162,000 investment.

In my opinion, if the house was on the market at the current time,

I would suggest that we would probably achieve

a figure of around £180,000, £185,000.

I would personally value this property at £175,000 to £180,000.

Taking the top figure,

that's a potential profit, before taxes and expenses, of 23,000.

How does that seem?

It's actually quite a lot lower than I've had quoted

from four other agents.

The lowest I had was 210, the highest I've had is 220.

And that was all within £10,000 of each other.

Well, you've been doing your homework, Bradley.

Any plans for the future?

A little break, I think. a little bit of time off.

Yeah, until something else comes available.

Yeah, just wait for the right one, don't just buy anything

for the sake of it, so...

We're here in Rusholme, which is two miles south

of Manchester city centre, but more importantly,

it's only five minutes' walk away from the famous Curry Mile.

And this area consists of a wide range of properties

from Victorian villas to tower blocks

to THESE - terraced houses.

And it's this particular house I'm here to see today.

It's two bedrooms and has a guide price of £60,000 plus.

Now, I used to play for Manchester United

and Manchester City's old ground is just behind the camera man

so I'm going to go in...

(Out of the way.)

OK, we're into the house.

We're straight into a nice, small porchway here

DOOR SLAMS FIRMLY and a really solid door.

I do like the sound of that.

And you got another door here as well,

so that's double the security.

Good start. First thing that hits you in the face is this.

So, they've lowered the ceiling, only half the ceiling.

What they've done that for, I don't know.

But they have started or somebody started paintwork and painting.

Central heating as well.

Gas fire over here on the chimney breast

and lots of light coming in from that big bay window.

And I have spotted a bit of damp as well over there in the corner.

But apart from that, that's a good first front room.

Into the kitchen and, yes, there's a bit of an extension.

They've extended the kitchen that way,

bit of a galley kitchen just through here.

They have got some cupboard space there.

And at the back is the bathroom and it looks relatively new,

well, the bathroom suite does, seems to have the cellophane on it.

This would need changing.

Looks a little bit tired, little bit dated as well.

And I have spotted a door of some sort. That could go to that...

OK, I've got to have a look, intrigue's killing me now.

Don't get too close on the backside, it's got bigger over the years.

HE GROANS

Let's have a look, see what's... The reason is -

this is above the ceiling that they've actually dropped.

And the only reason they've dropped that ceiling

is just to get those three spotlights in.

So, there's no other reason at all for them to drop it.

That's a bit of a strange reason,

why would you just do half the ceiling?

But, now we know.

Now we know. It's just for the lights.

I had to find out, it was killing me.

# All of the lights All of the lights... #

Well, that shed some light on that then.

But I think it's a little bit of overkill

for just three spotlights, in my opinion.

Anyway, onwards and upwards.

# Lights, lights All of the lights

# Turn up the lights... #

OK, upstairs, we have got two bedrooms

into the front of the house

and this one is a good-sized bedroom.

It looks like somebody's started painting it already.

Really nice, big radiator just there.

Lots of light coming in off this double-glazed window.

There are signs of a little bit more damp but nothing major at all.

Into the second bedroom, which has been decorated in blue.

We have got a bit of storage here, not that big but it's enough.

Window here looking out onto the garden,

double glazing, again, which is good.

And as I'm here, I can just see the garden.

It's only small, maybe 4m by 3m.

So, there's not a lot you could do out there.

The extension seems to have taken up all of the back garden.

But what I've seen so far, yes, there might be a little bit of damp,

but I'm liking what I've seen.

This could be a tidy little family home.

The overall condition isn't bad at all.

This could very quickly be a decent rental.

But don't just take my word for it, we called in a local estate agent

to see if he agrees.

First impressions of the property - generally very, very good property.

Good size, good area.

The bathroom itself is a generally good suite,

I would say the tiles need changing.

In regards to the kitchen, I would say a full modernisation

of the kitchen would be required.

But I think somebody's very, very attached to spotlights.

I would recommend putting it back to how it was initially.

In regards to sales, I think this property

will achieve around £100,000 if exposed on the sales market.

In regards to lettings,

I would give it a rental figure of around £600 per calendar month.

There isn't a lot of work that needs to be done here

and it looks like somebody's already started the work.

As for that lowered ceiling, I'm not sure what to make of that.

Anyway, it looks pretty solid to me,

let's see who wanted it when it went under the hammer.

Lot number two in your catalogue.

Guide price is 60,000 plus.

Got anybody here for this? Guide's 60.

Start me. £60,000 for lot two.

55, 50, 50 here.

At 50, I'm bid, stood at the rear.

At 50, I'm bid. Are we done?

52, 54, 54, 56, 58.

Not sure. 58, I'm bid. 60, 62...

The back and forth bidding continued.

We pick it up when the bids had reached £72,000.

72, I'm bid, 73.

74, it's against you.

Here, sir, it's 73.

At £73,000, third row, first time.

At £73,000 for the second time.

If you're all done... Back in at 74, 75?

75, I'm bid. 76?

Here at 75.

First time, second time, third and final time then.

All done. Against you. With you, selling.

-GAVEL BANGS

-Well done, sir.

The bidder clinching the deal for £75,000,

15 grand over the guide, was solicitor Sahib.

Sahib runs his own law firm and a small property company.

I met him back at the house to find out just what his plans were.

-Sahib, nice to meet you, sir.

-Nice to meet you.

-Congratulations.

-Thank you very much.

-What was it that attracted you to this house?

It's just the ideal location of this property.

It's a very, like, convenient area.

Like, Wilmslow Road, the Curry Mile is just five minutes' walk,

Universities are...two major universities -

Manchester Metropolitan and Manchester Uni -

is just in walking distance.

Then, next to the city centre, hospital is here.

So, it's a nice area, location-wise.

Sahib is on the money here.

The location is great.

And for anyone looking for rental potential,

local universities and hospitals can be a winner.

When you buy a property yourself,

do you look in this area and just rent it out

or do you sell them as well?

No, I'm really into rentals of the property,

so I just buy for rentals, not buy to sell, no.

Were you happy what you paid for it?

Yeah, I'm quite happy with that.

So, I paid for it £75,000, but my valuation...

they have given a value of £99,000 to this property.

Even though Sahib knows this area well,

he has still done his research on this house.

The agent advising him also gave us a similar valuation

to the one we invited earlier.

So, presumably that means he's got his renovation plans sorted too.

-What are you going to do to this?

-I'm just going to do renovate...

Little bit damp here, I can see.

Other than that, I can't see anything...

It might need a carpet here and one upstairs bedroom

and that's it, basically.

So, bathrooms, kitchens?

-No, they're fine. Quite good condition.

-They're all fine?

Just tidy them up, clean them up a bit?

Just tidy up, cleaning, it's a little bit messy as you can see.

And that's it, basically.

So, what you going to do about the damp?

Yeah, I can see a bit of damp in this property,

I think maybe this room is affected.

So, I want to talk with my builder, so they can do damp course here.

-OK.

-So, they're like quite expert in this.

So, who's going to do that work for you?

I have my own builder's team, so when I buy a house,

they work in my properties, so they are quite good, I know that.

So, I'll just give them the keys, so they just do everything

and at the end, they give me my keys back and that's it.

You're making it sound so simple.

No, no, initially, it was hard work, like, did it first couple of times,

but then they know me, I know them.

So, what about your timescale?

Timescale-wise, I think it's not going to take

more than two to three weeks.

-It should be fine, yeah.

-That quick?

Yeah, it's only this job.

Nothing otherwise. You can see it's a nice painted house. Nothing else.

So, Sahib has got the new damp course in hand

with builders he trusts.

Sounds like he really has conjured up a solution.

And what about your budget?

Say, max - two grand or might be three grand,

including everything like carpet and upstairs

and that's it, basically.

But I would say my target is two grand.

DION LAUGHS With the two grand, everything.

-You like all the twos - two weeks and two grand.

-Yeah.

-As long as you can stick to that.

-Yeah.

But even three grand is fine as well.

What I believe in my rented houses

is I spend on decorate a little bit more,

I go a little bit overboard because then tenants feel comfortable.

-So, if they're comfortable, they stay longer.

-OK.

So, it's good for tenants, yeah.

So, good for me, I don't have to find them every day.

Exactly, you don't get the headache

of them calling you back all the time.

Oh, yeah, no, no, no, I don't like that.

Very shrewd, I'd say. Happy tenants means happy landlords.

Now, about that ceiling.

So, Sahib, what do you know about the lowered ceiling?

I do not quite like this feature. I don't know why they've done it.

Just for the sake of these three fancy lights, but they look good.

So, you think it's been lowered just to get the lights in, yeah?

-I think so, nothing else.

-SAHIB LAUGHS

-It's a bit strange.

-It's a strange feature.

I don't see this in any properties around here.

When I think about this strange set up a bit more,

I think I'd like to get it checked out by a building inspector,

a landlord has to think about safety first.

The void here could conduct flames and smoke into the lounge

if a fire started in the kitchen.

Am I being too cautious?

I don't think so.

I think you always have to be on your toes

and check the quality of work, even if something looks

as though it's just been renovated recently.

Did you see that when you were walking round?

-Did you think to yourself, "Somebody might have started"?

-Yeah.

Even in the, like, auction details

it's written that you have to do a lot of work inside,

it needs some renovation.

But when I came out, "No, it's all right."

-Other than this...

-Yes.

Newly painted, some paint boxes around here

and some paint boxes in the back, as well.

-It looks like somebody's already started the work for you.

-Yeah.

-DION LAUGHS

-And even the bathroom,

it looks new as well, some parts of it.

Other than this room, everything else is fine here.

-So, Sahib, good luck. I wish you all the best.

-Thank you.

-Good luck.

Unsurprisingly, solicitor Sahib seems to have his head firmly

screwed on his shoulders and he got himself a house

where the work's already started.

But the big question is - two grand, two weeks?

You can find out how he gets on later in the programme.

So, we know what happened with one of today's properties,

but what about the others?

Yeah, will there be the odd improvement here or there

or massive changes?

Let's find out.

It was in Crewe in Cheshire where we first came across

a three-bed, mid-terraced period property.

And, yes, it was in poor decorative state,

but with its two reception rooms,

good-sized kitchen,

three bedrooms, family bathroom,

garden and the bonus of a garage,

it really had the possibility of being turned

into a fantastic family home.

And it was bought for £80,000 by Diana who had given up

a career in the pharmaceutical industry

to try out some new ventures

of which property development was just one.

# I'll try something new... #

-I did a course to teach English as a foreign language...

-OK.

Because I also have a passion for travel,

so I could combine moving away

and travelling and teaching English at the same time.

Wow. The property is funding that lifestyle?

Well, it's going to be a backup and my pension plan.

She hoped a budget of £14,000 would suffice

and that she could get the work done in ten weeks.

Well, just eight weeks later, we're back.

So, has Diana mastered the language of property?

# Cos they say home is where your heart is set in stone

# Is where you go when you're alone... #

No weeds now on the path to the smart, black door.

# Cos they say home is where your heart is set in stone

# Is where you go when you're alone... #

Well, she's retained the period features

but sensibly removed some of those dated additions.

So, how did things progress from the outset?

When I bought the house, the first bit is always the most fun bit,

which is the destruction bit, so just knocking everything out.

I was told I had to stay away

cos I really wanted to get a big sledgehammer out,

but my builder said, "No, you just stay away from everything,"

which is good cos I kept my nails.

And then we took out the old kitchen, took out the old bathroom

and then it's kind of putting it all back together again.

# Cos they say home is where your heart is set in stone

# Is where you go when you're alone

# Is where you go to rest your bones... #

Along with a new kitchen and bathroom suite,

the three bedrooms have also been fully refurbished

and are ready to go.

So, how did the builders sort out the damp?

We basically put a good damp-proof course all the way through

the bottom of the house, so, we chipped off, obviously,

a metre or more of plaster all the way around the house

and then they injected and...whatever they do.

-SHE LAUGHS

-But that's all been dealt with.

And then I've tidied up the garden

and the car park at the back, which I wasn't intending to do,

but I'm really pleased with it. So, I'm happy it's done.

And as gardens go, this is about as low-maintenance as it gets.

By repositioning the bottom fence,

Diana has created another parking space next to the garage.

But most of the work was carried out by her builder Dave.

So, was she involved at all?

Well, I did all the supervision,

so that's, obviously, the most important part.

But, Dave, really, no, he's a very good project mana...

He's been in this business for years

and he also helped me keep to budget,

really, because I quite like nice things and he's kept it...

he's kept me grounded and down to earth,

which I probably need sometimes.

Yes, well, Dave the builder may have kept her feet on the ground

in terms of this property, but Diana isn't one

to stay grounded for very long.

# Can't, can't stop movin' Can't stop movin'

# I can't keep still I can't stop movin'... #

My big passion in life is globetrotting and, yes,

I've come back from Marrakech just a few days ago.

Actually, I came back early for this and I'm off to Lisbon next week

and then I'm off to Dubai for six weeks after that...

and then Cuba.

Yeah, no, no, that's going to continue.

# Can't stop movin' Can't, can't stop movin'

# Can't stop movin' I can't keep still. #

Crikey, is there no holding this lady back?

She's certainly got the travel bug big-time.

But while she scoots around the globe,

what's happening with the house?

I keep all the houses that I buy. My...

I want to have a rental portfolio

and I've already got tenants coming in next week.

Just perfect.

She looks like she's already got her income stream to fund

her globetrotting and teaching abroad.

But how much has she had to stump up to get this house ready to rent?

So, when I bought the house and looked at the work

that needed doing, I budgeted about 14,000 to do it up.

I've come over budget, only slightly,

maybe a couple of thousand and I'm happy with that.

£16,000

on top of an £80,000 purchase price takes Diana's total

outlay to £96,000.

So, does this house work as a good backup plan to support

Diana in her jet-setting lifestyle?

What did two local property experts think?

First, the expert that saw it last time.

The property's been done quite nicely,

it's nice and clean and tidy.

It's had a lick of paint throughout and, obviously,

a new kitchen, new bathroom.

So, it would be a really good one to rent or to resell.

Finished OK.

The kitchen and bathroom are of a decent standard.

Some double-glazing, not all windows double-glazed...

Might have been an idea to have finished off

the double-glazing as well.

Back garden's tidy,

the front looks good.

So, yeah, it appeals well.

Diana thinks she might replace those windows in the future.

This is, after all, a long-term investment.

So, plenty of time for that.

She doesn't intend selling, but how has

her £96,000 investment performed so far?

From a sales point of view, I think this would sell

in the region of between £105,000 and £110,000.

If I was looking to put this on the market for sale,

I would suggest a figure around £115,000.

I think they are pretty good,

I think 115,000, actually, for this area.

The one across the road is going for 118, I think 115.

It's got car spaces and everything.

I'm sure I'd get that.

But I'm not planning on selling.

Yes, so for now she's going to pass on a pre-tax profit

of between £9,000 and £19,000.

It's that rental income she's after.

From a rental point of view,

this property should achieve around £595 per calendar month.

If I was looking to put this house on the market for rent,

I would be suggesting a figure of £595 per calendar month.

I'm renting it for 600.

I've got some really nice tenants moving in,

they're just starting a young family.

I'm hoping they're going to stay for 18 or 20 years,

that would be perfect.

That £600 per calendar month means a yield of 7.5%.

With the income from her other properties and her teaching job,

she should be able to keep travelling.

But will she keep developing?

It's a great thing to do if you find a good team of people.

I've really enjoyed it. I love doing houses.

I love it. Love it. Long may it continue.

So, it seems it's not just the travel bug she's got,

property's got to her too.

# I'm never, never gonna give you up

# I'm never, ever gonna stop. #

Scenes like these have been commonplace

in the Rushholme district of Manchester for many years.

It's also where English painter LS Lowry

spent most of his early life.

And it's where this two-bedroom terrace

was sold at auction for £75,000.

# Pictures of matchstick men and you... #

I could find little fault with this property.

There were two decent-sized bedrooms, but I couldn't help

but investigate why the lounge ceiling had been semi-dropped.

The clue to the boxing-in lay above the kitchen wall cupboards,

behind a strange hatch.

This is above the ceiling that they've actually dropped.

And the only reason they've dropped that ceiling

is just to get those three spotlights in.

That's a bit of a strange reason.

Why would you just do half the ceiling?

I met the new owner, local solicitor Sahib, at the house,

which is his fourth in the area.

His plan - to refurbish and rent out.

So, what about your timescale?

Timescale-wise, I think it's not going to take

more than two to three weeks.

-It should be fine, yeah.

-That quick?

Yeah, but it's only this job.

Nothing otherwise. You can see the nice painted house. Nothing else.

And what about your budget?

Say, max - two grand or might be three grand,

including everything like carpet and upstairs

and that's it, basically.

But I would say my target is two grand.

DION LAUGHS With the two grand, everything.

-You like all the twos - two weeks and two grand.

-Yeah.

-As long as you can stick to that.

-Yeah.

What I believe in my rented houses

I spend on decorate a little bit more.

I go a little bit overboard

because then tenants feel comfortable.

-So, if they're comfortable, they stay longer.

-OK.

So, it's good for tenants, yeah.

So, good for me, I don't have to find them every day.

Exactly, you don't get the headache

of them calling you back all the time.

Oh, yeah, no, no, no, I don't like that.

Well, we are calling back eight weeks later to see

what progress has been made.

The damp in the front bedroom has gone

and the flooring is just going down.

But imagine how the people will feel when it's all finished.

# We feel joy... #

And it would hardly be difficult for this second bedroom

to have a less striking colour than it used to.

# Nothing really matters we've got everything we need

# Take a big leap

# We will feel joy. #

The damp in the lounge took a more extensive approach.

But the end result looks smooth and damp-free.

And there's still that questionable ceiling layout.

# Mm. #

But the kitchen does now boast a new washing machine, oven and hob.

# Come and hold hands let's stick together

# Take a big leap and jump right over... #

The downstairs bathroom has had a good clean-up and face-lift.

But one of the biggest jobs for Sahib was getting that damp course

fitted in the lounge.

I to call my builders to do the damp course.

What they did, on these walls, up to here,

they took all the bricks out, like bit by bit.

Bit from here and bit from there.

And they put some plastic sheet underneath.

And what they did, they put new bricks over there

and then they plastered it

and then they took out the middle bricks here

and then the middle bricks from there.

So, they did the same thing but step-by-step.

So, they did the same thing across the room.

And now it's fine, I'm very pleased with the job.

I hope I won't get this again.

A time-consuming job.

And with the floorings expected to be completed later today,

it's taken Sahib five weeks over his two to three week forecast.

How about the budget?

When I viewed the property,

I was hoping that I will finish all the jobs within £3,000,

but when my plumber came in and he saw the property, he decided,

no, I need a new boiler in.

So then, cost went up a little bit and I ended up spending £4,000.

But I still think this is a very reasonable amount

on this kind of property and it's not too much.

Well, we've called in

two local estate agents,

they should be able to tell us if it's been money well spent.

Let's start with the agent

who saw the property before the work commenced.

The standard of finish on the property

is quite reasonable.

In regards to the area-wise,

I don't think the landlord will have any issues

in regards to letting this property.

I expect demand to be very high

for this property,

certainly through buyers and tenants.

It's close to Manchester city centre,

so it should be popular with both.

Sahib's total spend is £79,000.

His intention is to let out, but having had work done,

what would the house value be now on the open market?

If this property was put on the sales market,

I would give it a sales valuation of around £95,000.

If I was placing this property for sale,

I'd put it on the market at offers over 99,950.

Sahib's business model is always to buy to let.

But will the forecast potential profit of almost 21 grand

before taxes and expenses sway his opinion?

The highest sale value of this property

I know it's a bit higher,

but I don't want to sell it and do it for quick turnarounds.

Wise words. Down to the brass tacks.

What would the property let out for?

On the lettings market,

I would give it a rental valuation of around £550 per calendar month.

For rental, I'd expect this property to achieve

a figure in the region of £500 per calendar month.

I have already tenants lined up for 550.

Well, Sahib doesn't hang about.

And that 550 quid per calendar month

gives him a yield of nearly 8.5%.

Any future projects planned?

Next property-wise, I think I'm going to buy a couple more as well

in recent...this year or in coming years.

So, because...I just want...all of my savings

I want to invest in this area, basically.

Thanks to Sahib, it looks like many tenants will be rushing home

to Rushholme in the future.

So, those are the properties from today's show.

If you'd like to see more, well, you know where to come.

Yes, right here on Homes Under The Hammer.

-Goodbye.

-Bye.