0:00:02 > 0:00:04Hello. Now, there's a wide range of renovation projects out there,
0:00:04 > 0:00:06whether you're an old hand or you're a newbie.
0:00:06 > 0:00:09Yes, some projects need a back-to-brick approach.
0:00:09 > 0:00:11Others, well, a slight lick of paint will do.
0:00:11 > 0:00:14Yes. One place you might stand a good chance of finding
0:00:14 > 0:00:17either of those extremes is at your local property auction.
0:00:42 > 0:00:45The auction room is an action-packed place with lots going on.
0:00:45 > 0:00:48Oh, yes, there's a roomful of properties with buyers
0:00:48 > 0:00:51- usually trying to outbid their rivals.- Yes,
0:00:51 > 0:00:53so let's see who was successful
0:00:53 > 0:00:55and got what they bid for on today's show.
0:00:56 > 0:01:00In Greenwich, I see a property where it's definitely time for a change.
0:01:00 > 0:01:03This is one of those that, once renovated,
0:01:03 > 0:01:04it's going to look great.
0:01:07 > 0:01:13In Chatham, Kent, I'm also keen to make some alterations to this house.
0:01:13 > 0:01:15I'll tell you what, that wants to go completely.
0:01:17 > 0:01:20And in Norfolk, I think a complete change of tack
0:01:20 > 0:01:23is needed for this auction lot.
0:01:23 > 0:01:25What could this place be next?
0:01:27 > 0:01:30All these properties have been sold at auction.
0:01:30 > 0:01:31We'll find out who bought them
0:01:31 > 0:01:34and what they paid when they went under the hammer.
0:01:34 > 0:01:36Congratulations, sir. Well done.
0:01:40 > 0:01:44Welcome to the place where time as we know it began,
0:01:44 > 0:01:48South East London's Greenwich, home to Greenwich Mean Time.
0:01:48 > 0:01:51Downstream, there are lots of riverside developments,
0:01:51 > 0:01:55but it's for its heritage that this area is best known.
0:01:57 > 0:02:00Rowing has been part of life on the river at Greenwich
0:02:00 > 0:02:02for hundreds of years.
0:02:02 > 0:02:06And the annual Great River Race, well, it finishes at the Cutty Sark.
0:02:06 > 0:02:08Something else Greenwich is known for,
0:02:08 > 0:02:10well, it's giving its name to Mean Time.
0:02:10 > 0:02:12And on that note, the clock is ticking,
0:02:12 > 0:02:14- so I better get going. - CLOCK TICKS, BELL RINGS
0:02:14 > 0:02:16Now, there's no excuse for being late,
0:02:16 > 0:02:17as the property I'm here to see,
0:02:17 > 0:02:20well, it's only a couple of minutes' walk from the river.
0:02:20 > 0:02:24Wow, what a great spot this is, and it's such a pretty street, too.
0:02:24 > 0:02:27It's one of these lovely Victorian terraces.
0:02:27 > 0:02:32It's got three bedrooms and a guide price of £425,000.
0:02:32 > 0:02:36And look at the beautiful detailing up there. It's gorgeous!
0:02:36 > 0:02:39Well, I'm hoping for lots of lovely character inside, too.
0:02:41 > 0:02:43Oh, and there's lovely, stunning features
0:02:43 > 0:02:45on the inside of this property, too.
0:02:45 > 0:02:49Wow, and look up there - absolutely gorgeous.
0:02:49 > 0:02:50So, straight through into the lounge.
0:02:50 > 0:02:53But, oh, no, I'm not going to use this doorway.
0:02:53 > 0:02:56I'm going to come through this doorway.
0:02:56 > 0:02:59So, you can see, it's already been knocked through
0:02:59 > 0:03:02into one big, large, open-plan room.
0:03:02 > 0:03:05And it's lime green, don't know if you noticed that(!)
0:03:05 > 0:03:08Boy, look at the colour! That's quite bright, isn't it?
0:03:08 > 0:03:11So, obviously, it needs a lot of decorating and renovating,
0:03:11 > 0:03:14and it's going to need plumbing and it's going to need rewiring.
0:03:14 > 0:03:19I mean, look at these old fires. Wow, that's incredible.
0:03:19 > 0:03:23Hopefully, behind here, you might get some nice, old fireplaces,
0:03:23 > 0:03:27but what I absolutely love are the two chimney breasts in this room.
0:03:27 > 0:03:30You know, if you renovate those and you strip them back
0:03:30 > 0:03:31and you have them as bare brick,
0:03:31 > 0:03:34two in one room can look absolutely fantastic.
0:03:34 > 0:03:38You could also maybe hang two separate little chandeliers,
0:03:38 > 0:03:40and it would just look stunning.
0:03:40 > 0:03:43I could really get carried away with a house like this.
0:03:43 > 0:03:45This is one of those that, once renovated,
0:03:45 > 0:03:47it's going to look great.
0:03:49 > 0:03:52Exactly the same can be said for the kitchen
0:03:52 > 0:03:55and, predictably, the downstairs bathroom.
0:03:59 > 0:04:01The stairs are steep and narrow,
0:04:01 > 0:04:04but there's a large, blue double bedroom at the top of them
0:04:04 > 0:04:08with a nasty crack, which will need an expert's opinion.
0:04:11 > 0:04:14The smallest bedroom has damp on the chimney breast
0:04:14 > 0:04:16as well as a rather large wardrobe.
0:04:17 > 0:04:18Well, call me silly,
0:04:18 > 0:04:22but this is a rather unusually strange set-up here.
0:04:22 > 0:04:25You've got a corrugated, partitioned wall
0:04:25 > 0:04:27right in the middle of the bedroom.
0:04:27 > 0:04:30Now, in there, you've got peeling wallpaper, it stinks of damp,
0:04:30 > 0:04:33you've even got an outside tap stuck on the wall.
0:04:33 > 0:04:37So, hopefully, whoever takes this house on will get rid of this
0:04:37 > 0:04:39and sort out the damp problem at the back.
0:04:39 > 0:04:40You've also got damp problems up here.
0:04:40 > 0:04:42I mean, look, that's the chimney.
0:04:42 > 0:04:45You got bits of the plaster just crumbling away.
0:04:45 > 0:04:47That worries me slightly.
0:04:47 > 0:04:50But the blessing about this room is that it's so large.
0:04:50 > 0:04:53What could you do with some of this space? Well, I know.
0:04:53 > 0:04:55You only need to look at what the neighbours have done next door.
0:04:55 > 0:04:58You could put a little window in here if you really wanted to
0:04:58 > 0:05:00and steal some of this space
0:05:00 > 0:05:04and bring that bathroom that's downstairs upstairs.
0:05:04 > 0:05:05Voila, problem solved.
0:05:07 > 0:05:09Yes, I am an old-fashioned girl,
0:05:09 > 0:05:12but there are limits to my retro inclinations,
0:05:12 > 0:05:13like braving those stairs
0:05:13 > 0:05:16to come through the kitchen for the morning's ablutions.
0:05:16 > 0:05:17Hm, not for me.
0:05:20 > 0:05:23The bathroom and kitchen extend into the garden,
0:05:23 > 0:05:25where there's a hothouse.
0:05:29 > 0:05:31Well, this is not one of the largest London gardens
0:05:31 > 0:05:33I think I've ever seen.
0:05:33 > 0:05:37And that's because this greenhouse takes up most of the space.
0:05:37 > 0:05:40Look at it! It's absolutely enormous!
0:05:40 > 0:05:42Once this is taken down,
0:05:42 > 0:05:45I think it will be a really lovely, adequate little garden.
0:05:45 > 0:05:47You all right in there?
0:05:50 > 0:05:52I think he's just doing his warm-up routine.
0:05:52 > 0:05:55At the front of the house, there's a local estate agent
0:05:55 > 0:05:58we've called in to check out some of the issues
0:05:58 > 0:05:59and to give us a valuation.
0:05:59 > 0:06:02It will be good to have a second opinion on that damp.
0:06:04 > 0:06:06The damp, I would assume, is going to be from a roof issue,
0:06:06 > 0:06:08an issue on the roof, so I would get that looked at,
0:06:08 > 0:06:09get a roofer round.
0:06:09 > 0:06:13It could possibly be a chimney breast that's leaning or damaged.
0:06:13 > 0:06:16So, again, get that fixed. And then repair the damage inside from that.
0:06:16 > 0:06:18OK, let's cut to the quick -
0:06:18 > 0:06:21what would it be worth after a scheme of renovation?
0:06:21 > 0:06:23On the resale market, once refurbished,
0:06:23 > 0:06:28the property would be worth between £800,000 and £850,000.
0:06:28 > 0:06:29OK, so, it needs a lot of work,
0:06:29 > 0:06:31but underneath its current condition,
0:06:31 > 0:06:34well, I think there's some lovely character.
0:06:34 > 0:06:36It's really quite charming, isn't it?
0:06:36 > 0:06:37Who was ready to tackle the layout
0:06:37 > 0:06:39and take on the renovation challenge?
0:06:39 > 0:06:42Let's head to auction and find out.
0:06:42 > 0:06:44So, 101 to Greenwich.
0:06:44 > 0:06:45Nice-looking property.
0:06:45 > 0:06:48Mid-terraced house, three beds. Start me at 375.
0:06:48 > 0:06:50Opening bid at 375.
0:06:50 > 0:06:53I have you, sir, by the pillar at 375.
0:06:53 > 0:06:56And it's 380.
0:06:56 > 0:07:00380. 380, ladies. OK, lady in the red scarf, 380.
0:07:00 > 0:07:03385? 385. 390?
0:07:03 > 0:07:07390. 395 and 400. And five. And 10.
0:07:07 > 0:07:09The bids soon overtake the guide price
0:07:09 > 0:07:13and we rejoin the bidding at 550,000.
0:07:13 > 0:07:19550, lady in the red scarf is back. 555. And 60.
0:07:19 > 0:07:20For the first time...
0:07:20 > 0:07:25Now she's bid 560, but I suspect a little reluctantly. 560. 65.
0:07:25 > 0:07:26And 70.
0:07:26 > 0:07:31570 she's bid me. 575 now. Madam, don't stop.
0:07:31 > 0:07:32575. 580?
0:07:34 > 0:07:36580. Back in. 585.
0:07:38 > 0:07:40First time at 585, your bid.
0:07:41 > 0:07:44Second time at 585.
0:07:44 > 0:07:46Third and last. 590.
0:07:47 > 0:07:49First time at 590.
0:07:49 > 0:07:55Second time at 590. Third and last time at 590,000.
0:07:55 > 0:07:56Are you going to bid again?
0:07:56 > 0:08:00£590,000, lady in the red scarf. Have we all done at 590?
0:08:00 > 0:08:02- We have. - GAVEL BANGS
0:08:02 > 0:08:04590, you got that?
0:08:04 > 0:08:07The successful bid came from Elizabeth,
0:08:07 > 0:08:11who, along with her husband Neil, paid 590,000 -
0:08:11 > 0:08:15£165,000 over the guide price.
0:08:15 > 0:08:17Elizabeth worked as an oil and gas trader
0:08:17 > 0:08:20until becoming a lecturer, and she's just about to go
0:08:20 > 0:08:22on maternity leave with her second child,
0:08:22 > 0:08:24due in two and a half months' time.
0:08:27 > 0:08:29- Elizabeth, congratulations. Well done.- Thank you.
0:08:29 > 0:08:31So, how much did you want this property?
0:08:31 > 0:08:33Because I know you live locally, don't you?
0:08:33 > 0:08:35Yes, it was really the only property that I was looking at
0:08:35 > 0:08:38because, yeah, as you say, I live just up the road and I've got
0:08:38 > 0:08:42another house just on the other side of the street over here.
0:08:42 > 0:08:44So, I was looking for something local.
0:08:44 > 0:08:46So, what was it about this property in particular
0:08:46 > 0:08:47that you loved so much?
0:08:47 > 0:08:50Well, I think it's got great character. As soon as
0:08:50 > 0:08:52you come into the house, it's got a nice feeling.
0:08:52 > 0:08:55It's an old Victorian house, still got some of the old features.
0:08:55 > 0:08:56Yeah.
0:08:56 > 0:08:57The bedrooms are nice and big.
0:08:57 > 0:09:00Obviously, some things need moving around
0:09:00 > 0:09:02and lots of refurbishment work needs doing.
0:09:02 > 0:09:04Ooh, yeah!
0:09:04 > 0:09:06I don't think the green will fit particularly well
0:09:06 > 0:09:09with anybody I know. So, what have you found so far?
0:09:09 > 0:09:11Because I know there's a crack upstairs.
0:09:11 > 0:09:14It's an old house and there was a lot of bombing in this area,
0:09:14 > 0:09:17so I think a lot of the houses in Greenwich are quite cracked.
0:09:17 > 0:09:20Both my other houses have got cracks in them.
0:09:20 > 0:09:23So, I've got a structural engineer coming to have a look at it
0:09:23 > 0:09:25to give us some really proper advice.
0:09:25 > 0:09:27There's some nasty damp upstairs.
0:09:27 > 0:09:29I think the chimney's a bit dodgy,
0:09:29 > 0:09:32so that's going to certainly need some work.
0:09:32 > 0:09:35Elizabeth does seem to be tackling all the right issues here,
0:09:35 > 0:09:38and getting professionals like structural engineers in
0:09:38 > 0:09:42to check things out is definitely to be recommended.
0:09:42 > 0:09:44How much money have you got to spend here?
0:09:44 > 0:09:47- I'm hoping to do it at about 85 grand.- OK.
0:09:48 > 0:09:52It depends on how much the structural work will need,
0:09:52 > 0:09:53and that's a slight unknown.
0:09:53 > 0:09:56But what sort of new ideas have you got for this property?
0:09:56 > 0:09:58Well, there's lots to do with this.
0:09:58 > 0:10:01There are things like putting the old fireplaces back in,
0:10:01 > 0:10:03which would have been here originally.
0:10:03 > 0:10:05I think the house deserves to have those back in.
0:10:05 > 0:10:08- Absolutely.- The clear thing that I need to do
0:10:08 > 0:10:09is move the bathroom upstairs.
0:10:09 > 0:10:12There's certainly room in the back bedroom to put it in there
0:10:12 > 0:10:15and probably leave a downstairs loo
0:10:15 > 0:10:19roughly where it is at the moment, so I don't have to re-plumb it,
0:10:19 > 0:10:22and put a small utility room in there,
0:10:22 > 0:10:24and then knock through the back wall,
0:10:24 > 0:10:26so you've got French doors at the back,
0:10:26 > 0:10:28so when you come in the front door,
0:10:28 > 0:10:30- you can see all the way out to the garden.- Fantastic.
0:10:30 > 0:10:33- So, visually, your eye carries all the way through.- Hopefully.
0:10:33 > 0:10:37So, what are you most worried about with this project, would you say?
0:10:37 > 0:10:40What you might find when you take all the wallpaper off.
0:10:40 > 0:10:42I think that's my biggest concern.
0:10:42 > 0:10:44Elizabeth's right to be worried -
0:10:44 > 0:10:48old houses do have a habit of bringing up unwanted concerns.
0:10:48 > 0:10:51But overall, I'm loving her plans for the house.
0:10:51 > 0:10:52It sounds great.
0:10:52 > 0:10:55Along with her £85,000 budget,
0:10:55 > 0:10:59she's hoping to get the work done in a timescale of six months.
0:11:00 > 0:11:04- Now, I've noticed you're pregnant as well.- Yes! Seven months pregnant.
0:11:04 > 0:11:06- That's fantastic! Congratulations.- Thank you.
0:11:06 > 0:11:09So, how is that going to work in tandem with the baby
0:11:09 > 0:11:12- and the property?- Well, I've had strict instructions
0:11:12 > 0:11:15that I'm not allowed to do very much from my husband,
0:11:15 > 0:11:18so I've got an amazing girl that's going to project manage it for me.
0:11:18 > 0:11:20Is that until you've had the baby?
0:11:20 > 0:11:23Until I've had the baby, and maybe then I might be a bit busy.
0:11:23 > 0:11:25So, I think my involvement will be fairly small.
0:11:25 > 0:11:27Elizabeth, I'm so excited for you.
0:11:27 > 0:11:30Good luck with the project and good luck with the baby as well.
0:11:30 > 0:11:33- Thank you.- Congratulations. - Thanks very much.
0:11:33 > 0:11:36So, Elizabeth has a few concerns about what lies beneath
0:11:36 > 0:11:39that lime green wallpaper. Still, she's got a healthy budget
0:11:39 > 0:11:42and she knows this area so well, so that will help.
0:11:42 > 0:11:45Join me later in the programme and you can find out how it all goes
0:11:45 > 0:11:48and maybe even meet the little one!
0:11:48 > 0:11:49Ooh, I can't wait.
0:11:52 > 0:11:55Off to Kent now, and Chatham,
0:11:55 > 0:11:58where the historic docks have become a favourite film
0:11:58 > 0:12:02and TV location for productions including Bond films
0:12:02 > 0:12:05Diamonds Are Forever and The World Is Not Enough.
0:12:05 > 0:12:08I'm here to try and spy a bargain.
0:12:09 > 0:12:12Well, half a mile from the town centre,
0:12:12 > 0:12:14close to good transport links
0:12:14 > 0:12:17and also some nice local schools is the property I'm here to see.
0:12:17 > 0:12:19This is it. Three-storey, brick built,
0:12:19 > 0:12:22split into a one-bedroom flat downstairs
0:12:22 > 0:12:24and a two-bedroom upstairs
0:12:24 > 0:12:27with a guide price of £160,000 plus.
0:12:27 > 0:12:28Mm!
0:12:31 > 0:12:33- Ah, OK. - HE CHUCKLES
0:12:33 > 0:12:36That's a bit alternative, isn't it? Straight through the front door
0:12:36 > 0:12:40and there's kind of this opening into the lounge. Hm.
0:12:40 > 0:12:43I tell you what, that wants to go completely, doesn't it?
0:12:43 > 0:12:45In fact, the moment you walk in here,
0:12:45 > 0:12:48well, I get the idea,
0:12:48 > 0:12:51take all these walls out, make it completely open-plan.
0:12:51 > 0:12:54You know, most of us spend our lives living in one room in a house -
0:12:54 > 0:12:56it's usually the kitchen or the lounge -
0:12:56 > 0:12:58so make that one room absolutely massive.
0:12:58 > 0:13:00Take out this wall as well.
0:13:00 > 0:13:04Yeah, it's a bit of work, but, wow, how spectacular would that be?
0:13:04 > 0:13:07But anyway, stairs up to your bedrooms there.
0:13:07 > 0:13:09A few nice original features still here,
0:13:09 > 0:13:13like the old fireplace. Reasonably high ceilings.
0:13:13 > 0:13:16With that gone, can you imagine how fantastic this would be?
0:13:16 > 0:13:19At the moment, it's a little bit of a sort of jiggle
0:13:19 > 0:13:21and it's kind of quite strange that you come
0:13:21 > 0:13:24underneath the stairs here to get to the rear of the property,
0:13:24 > 0:13:26where the kitchen is situated.
0:13:26 > 0:13:28Now, it looks like somebody has started
0:13:28 > 0:13:31some kind of renovations on this place, so it's quite nice.
0:13:31 > 0:13:35You've got these new units and it's all looking fairly spick and span.
0:13:35 > 0:13:37But I don't think they've gone far enough.
0:13:37 > 0:13:39Definitely some internal modifications.
0:13:39 > 0:13:42Take out walls before you go any further.
0:13:42 > 0:13:48# And sometimes I play the fool
0:13:49 > 0:13:53# Play the fool. #
0:13:55 > 0:13:57Of course, you would have to weigh up the loss
0:13:57 > 0:14:00of some of these rather nice original plaster features,
0:14:00 > 0:14:05but still, I think it's the way to go to give some flow to the space.
0:14:05 > 0:14:09So, upstairs, and what delights are in store?
0:14:09 > 0:14:11Well, actually, a semi delight.
0:14:11 > 0:14:14That's a really nice-sized family bathroom.
0:14:14 > 0:14:16Possibly a little bit too big,
0:14:16 > 0:14:18so that opens up some interesting potential.
0:14:18 > 0:14:21Great, huge room towards the front.
0:14:21 > 0:14:24So, you know, a real big bedroom, which is good.
0:14:24 > 0:14:26And then an equally -
0:14:26 > 0:14:29well, not quite but almost - sized bedroom here.
0:14:29 > 0:14:32So, immediately, I'm thinking, "Hm, is that a little bit too big?
0:14:32 > 0:14:35"Is there a bit of playing around with internal walls where
0:14:35 > 0:14:38"you could potentially have that as a third bedroom,
0:14:38 > 0:14:43"sneak a little space off one or both of these rooms here
0:14:43 > 0:14:45"to create an alternative bathroom?"
0:14:45 > 0:14:46Now, it's going to cost quite a lot
0:14:46 > 0:14:51cos you're having to move things like all the pipe work and the soil,
0:14:51 > 0:14:53all that kind of stuff, and actually redo the bathroom as well.
0:14:53 > 0:14:56But you know what? To gain an extra bedroom?
0:14:56 > 0:14:59In this instance, I'd say, yeah, definitely worth doing.
0:14:59 > 0:15:02Before taking on too much work, though,
0:15:02 > 0:15:04you need to consider that the basement flat
0:15:04 > 0:15:07is in need of much more work.
0:15:08 > 0:15:10The layout is different from upstairs
0:15:10 > 0:15:11in that the bedroom is at the front
0:15:11 > 0:15:14and what I think is meant to be the living room is behind that.
0:15:17 > 0:15:19At the moment, the very back is probably where
0:15:19 > 0:15:21you would put the kitchen and loo,
0:15:21 > 0:15:24as the soil pipe and drains are here.
0:15:25 > 0:15:28The stairs have been blocked off but not removed.
0:15:28 > 0:15:31So, when are two flats not two flats?
0:15:33 > 0:15:36Well, access to the small little garden area
0:15:36 > 0:15:40is through some doors out of the lower flat area.
0:15:40 > 0:15:43So, let's just look at this for a second
0:15:43 > 0:15:46because at the moment, it's a bit confusing.
0:15:46 > 0:15:51The property itself is freehold, and yet we've got a downstairs flat
0:15:51 > 0:15:55and an upstairs flat. That doesn't actually work, does it?
0:15:55 > 0:15:59What's probably happened over time is that the building was separated
0:15:59 > 0:16:02into two and everyone just kind of muddled on,
0:16:02 > 0:16:04"It doesn't really matter. Leasehold, freehold, who cares?"
0:16:04 > 0:16:08Well, of course, the person who's buying it definitely cares.
0:16:08 > 0:16:10And if you're looking at having two properties here,
0:16:10 > 0:16:14then you need to separate the one into two separate leaseholds
0:16:14 > 0:16:17and the freehold is then retained either by a separate person
0:16:17 > 0:16:20or one of the owners of one of these properties.
0:16:20 > 0:16:24That will take a bit of time. It'll take quite a bit of money.
0:16:24 > 0:16:26Solicitors need to be involved, da-da-da-da-da.
0:16:26 > 0:16:28But it definitely needs to be done.
0:16:28 > 0:16:31# Come-a-come-a Down-dubby-du-down-down
0:16:31 > 0:16:35# Breaking up is hard to do. #
0:16:35 > 0:16:37Of course, there is an alternative.
0:16:37 > 0:16:40You could turn it back into one bigger house,
0:16:40 > 0:16:42but would that be right for this area?
0:16:43 > 0:16:46Who better to ask than a local estate agent?
0:16:48 > 0:16:51It does warrant it staying as two dwellings.
0:16:51 > 0:16:53The house is too big for the area.
0:16:53 > 0:16:56And also, the problem is, is parking.
0:16:56 > 0:17:00What work would the agent recommend in each flat?
0:17:00 > 0:17:03I think, with the bottom flat here, as it is at the moment,
0:17:03 > 0:17:06I think it definitely does need some double glazing to the front
0:17:06 > 0:17:08because of the noise of the road.
0:17:08 > 0:17:12The upstairs one is on two levels and a really nice size.
0:17:12 > 0:17:14The bathroom is far too big,
0:17:14 > 0:17:18so I think what they should do is make that a little bit smaller
0:17:18 > 0:17:20and give it another room.
0:17:20 > 0:17:23The agent thinks, once done up, the big flat could rent
0:17:23 > 0:17:28for around £850 per month and the small one for 600 to 650.
0:17:28 > 0:17:32Both flats could potentially sell for a total of 250,000,
0:17:32 > 0:17:34so there is plenty of room for profit
0:17:34 > 0:17:36if you can get this property
0:17:36 > 0:17:40for anything like that 160 grand guide price.
0:17:40 > 0:17:43Well, it's a convenient location
0:17:43 > 0:17:45and a property that has the potential,
0:17:45 > 0:17:48in the right hands, to, I think, make some money.
0:17:48 > 0:17:51But first of all, you do need to sort out those legal issues.
0:17:51 > 0:17:54Who went for it? Let's find out when it went under the hammer.
0:17:54 > 0:17:56It's a freehold house
0:17:56 > 0:17:59with accommodation over three stories.
0:17:59 > 0:18:01It's vacant possession of the whole.
0:18:01 > 0:18:03And where are we going to start on this one?
0:18:03 > 0:18:06160 I have, and five do I see?
0:18:06 > 0:18:08160 I've got, and five I'm looking for.
0:18:08 > 0:18:10With you at 160, in the pink shirt.
0:18:10 > 0:18:13Five do I see? 165? 165.
0:18:13 > 0:18:16170? 170. And five? And 80.
0:18:16 > 0:18:18And five. And 90.
0:18:18 > 0:18:20And five.
0:18:20 > 0:18:22195. 200.
0:18:22 > 0:18:27205. 205. 210 in a fresh place.
0:18:27 > 0:18:29210 at the back for the first time.
0:18:29 > 0:18:31215, I'm bid.
0:18:31 > 0:18:33220, it's against you now at the rear.
0:18:33 > 0:18:37At £215,000 in the third row for the first time.
0:18:37 > 0:18:39215 for the second time.
0:18:39 > 0:18:42Third and final time at £215,000...
0:18:42 > 0:18:45- GAVEL BANGS - Yours at 215.
0:18:45 > 0:18:50Paying £215,000 was Bernie, who has varied business interests
0:18:50 > 0:18:54and a passion for muscle cars, as you can see here.
0:18:54 > 0:18:56# Hey, goose monkey, show me what you got. #
0:18:59 > 0:19:01More of that one later.
0:19:03 > 0:19:05- Bernie, great to meet you. - Great to meet you too.
0:19:05 > 0:19:08- Congratulations. - Thank you very much, I think.
0:19:08 > 0:19:10Yeah, no, definitely. Yeah, you did well.
0:19:10 > 0:19:12Paid a little bit over the guide price.
0:19:12 > 0:19:15- But you were happy with what you paid?- Yeah, yeah,
0:19:15 > 0:19:16very happy with what we paid.
0:19:16 > 0:19:18Why were you so keen to buy it?
0:19:18 > 0:19:22Well, it's part of a business aspect.
0:19:22 > 0:19:25- Actually, I run an IT recruitment agency...- OK.
0:19:25 > 0:19:27..and a couple of children's homes, which...
0:19:27 > 0:19:28- Through the wife.- Right.
0:19:28 > 0:19:33- And the property side is the third side of my business life.- OK.
0:19:33 > 0:19:38So, we buy stuff that is, obviously, in need of doing up,
0:19:38 > 0:19:39do it up, make a profit.
0:19:39 > 0:19:42And what do you think the potential of this place is, then?
0:19:42 > 0:19:46Right. Well, we were prepared to go to 240, 245.
0:19:46 > 0:19:52250 - we're figuring about 35 on the building costs.
0:19:52 > 0:19:55There's going to be some more costs, obviously, in, you know,
0:19:55 > 0:20:00stamp duty, estate agents, etc, at the other end, some legal costs.
0:20:00 > 0:20:03This one's got a particularly interesting legal issue with it.
0:20:03 > 0:20:07And then we're looking, at the end, that the house, this main unit,
0:20:07 > 0:20:10will hopefully go for about 230.
0:20:10 > 0:20:11Right.
0:20:11 > 0:20:15And the basement flat, the second unit underneath,
0:20:15 > 0:20:17probably about 120.
0:20:17 > 0:20:20And I hope I'm being conservative on those numbers.
0:20:20 > 0:20:23Bernie had his builder Ray do all the costings
0:20:23 > 0:20:26and has clearly done his homework.
0:20:26 > 0:20:28Consequently, he's not been caught out
0:20:28 > 0:20:32by the lurking legal issue over the freehold.
0:20:32 > 0:20:34We bought the freehold,
0:20:34 > 0:20:37but it's clearly been two units - the house
0:20:37 > 0:20:41and the basement flat - for many, many years.
0:20:41 > 0:20:44But it doesn't appear to be legally two units.
0:20:44 > 0:20:48So, hopefully, a solicitor can get a certificate of lawfulness
0:20:48 > 0:20:51- to make it two units legally.- Right.
0:20:51 > 0:20:55In the worst case, we'll have to go for planning permission.
0:20:55 > 0:20:58Assuming the planning and legalities are sorted,
0:20:58 > 0:21:01what are Bernie's plans for the two flats?
0:21:02 > 0:21:05Obviously, it needs a complete refurbishment throughout.
0:21:05 > 0:21:07It needs a new kitchen.
0:21:07 > 0:21:10It's almost certainly going to need rewiring, re-plumbing.
0:21:11 > 0:21:14We're potentially going to open this downstairs,
0:21:14 > 0:21:19- the two rooms into one.- Oh, nice. - Make it a through lounge.- Yeah.
0:21:19 > 0:21:20And upstairs,
0:21:20 > 0:21:24we're going to convert the two-bed upstairs into a three-bed upstairs.
0:21:24 > 0:21:26How are you going to get a third bedroom in?
0:21:26 > 0:21:29Well, the bathroom up there at the moment is extremely large
0:21:29 > 0:21:30- for the property.- Yes.
0:21:30 > 0:21:36So, we will take the bathroom away, make that room into a bedroom.
0:21:36 > 0:21:39And then where the other two bedrooms are connected by a wall,
0:21:39 > 0:21:43we'll lose that wall and take half of the bathroom
0:21:43 > 0:21:48from each bedroom, so, effectively, creating a bathroom in between.
0:21:49 > 0:21:52Bernie has plans for the basement flat, too.
0:21:53 > 0:21:56It's going to be the traditional white and magnolia,
0:21:56 > 0:21:59refurbish everywhere, make it all nice.
0:21:59 > 0:22:03Apple Spring Blossom White and Kensington Cream,
0:22:03 > 0:22:06or white and magnolia, as everyone else knows it.
0:22:06 > 0:22:10And just make it all nice, clean, fresh,
0:22:10 > 0:22:12and as if new.
0:22:12 > 0:22:14Bernie and Ray also plan to erect a staircase
0:22:14 > 0:22:16from the kitchen in the upper flat
0:22:16 > 0:22:21that will mean the flat has exclusive access to the garden.
0:22:21 > 0:22:22This is going to be a three-bedroom unit,
0:22:22 > 0:22:24- which is going to be family.- Yeah.
0:22:24 > 0:22:27Difficult to sell without a garden attached.
0:22:27 > 0:22:30- OK.- Or easier to sell with a garden attached.- Yeah.
0:22:30 > 0:22:33And then the basement loses the garden.
0:22:33 > 0:22:35- It's going to be a one-bed...- OK. - ..flat down there, so...
0:22:35 > 0:22:39But competitively priced, so people would be happy not to have a garden.
0:22:39 > 0:22:40Yes.
0:22:40 > 0:22:42Bernie's clearly all over the research on this
0:22:42 > 0:22:46and he's planned a £35,000 budget for both flats.
0:22:46 > 0:22:49Builder and friend Ray, along with his team, will take it from here,
0:22:49 > 0:22:52as Bernie doesn't get involved on-site.
0:22:52 > 0:22:56After this stage, I'll probably come by at the end and have a look.
0:22:56 > 0:22:59- Really? Leave them to get on with it?- Yeah.
0:22:59 > 0:23:02Buy Ray a pint occasionally, update the spreadsheets.
0:23:02 > 0:23:05But you don't get the saw and the drill and the hammer out?
0:23:05 > 0:23:08I try to avoid walking round building sites,
0:23:08 > 0:23:10you know, as often and as much as possible.
0:23:10 > 0:23:13- Good. But you're excited about it, obviously.- Very excited.
0:23:13 > 0:23:15- It's got great potential. - Yeah, very excited. Yeah.
0:23:15 > 0:23:19So, two new flats with quite a lot of structural work planned.
0:23:19 > 0:23:22How long does Bernie think it will take?
0:23:22 > 0:23:25We'll be aiming for about three months.
0:23:25 > 0:23:27It may take a touch more,
0:23:27 > 0:23:30but I think the real timescale on this
0:23:30 > 0:23:32is going to be that paperwork on the leases...
0:23:32 > 0:23:36- Right.- ..and the certificate of lawfulness or planning permission.
0:23:36 > 0:23:40Bernie is used to things being a bit speedier than the rest of us -
0:23:40 > 0:23:45he loves American sports cars, otherwise known as muscle cars.
0:23:48 > 0:23:52So, the big question is, how fast is it?
0:23:52 > 0:23:55It does nought to 60 in 3.8.
0:23:55 > 0:23:58- Wow!- Which is probably... It took me longer to say.
0:23:58 > 0:24:00THEY LAUGH
0:24:00 > 0:24:03- Well, listen, congratulations.- Thank you very much.- Good luck with it.
0:24:03 > 0:24:07- Look forward to seeing how you get on.- Yeah. Brilliant. Thank you.
0:24:07 > 0:24:09Well, Bernie certainly got the fast car.
0:24:09 > 0:24:13Will this place provide him with a fast buck?
0:24:13 > 0:24:16I think it might, actually.
0:24:16 > 0:24:19It was a good buy and he's got the right ideas to sort it out.
0:24:19 > 0:24:23You can find out how it all ends up later in the show.
0:24:24 > 0:24:26Coming up in Norfolk,
0:24:26 > 0:24:28is it a case of water, water everywhere,
0:24:28 > 0:24:29but not a drop to drink?
0:24:29 > 0:24:31BANGING Service!
0:24:34 > 0:24:37And we return to Chatham in Kent
0:24:37 > 0:24:42to see how Bernie is motoring on with his two flat conversions.
0:24:47 > 0:24:50But first, it's time to return to Greenwich.
0:24:50 > 0:24:53And it was here we first clocked a three-bed mid-terrace house
0:24:53 > 0:24:57which was perhaps best described as vibrant.
0:24:57 > 0:25:00Boy, look at the colour! That's quite bright, isn't it?
0:25:00 > 0:25:06# Just a little bit of green
0:25:08 > 0:25:13# Clouds my eyes to what I've seen. #
0:25:13 > 0:25:16And the person who saw past the colour scheme
0:25:16 > 0:25:18and some worrying cracks was Elizabeth,
0:25:18 > 0:25:22who bought it at auction for £590,000.
0:25:22 > 0:25:26And although she has delved into property development before,
0:25:26 > 0:25:28this was her first major renovation project.
0:25:28 > 0:25:31And with her second baby due in a couple of months,
0:25:31 > 0:25:34her timing was challenging to say the least.
0:25:35 > 0:25:36So, how is that going to work
0:25:36 > 0:25:39in tandem with the baby and the property?
0:25:39 > 0:25:40Well, I've had strict instructions
0:25:40 > 0:25:43that I'm not allowed to do very much from my husband,
0:25:43 > 0:25:47so I've got an amazing girl that's going to project manage it for me.
0:25:47 > 0:25:50- Is that until you've had the baby? - Until I've had the baby,
0:25:50 > 0:25:52and maybe then I might be a bit busy.
0:25:52 > 0:25:55So, I think my involvement will be fairly small.
0:25:55 > 0:25:58So Elizabeth, a former oil and gas trader,
0:25:58 > 0:26:02had roped in her friend Katie to project manage,
0:26:02 > 0:26:05and she was going to be taking a hands-off approach.
0:26:05 > 0:26:06But she did live nearby,
0:26:06 > 0:26:08so she could at least keep a watchful eye
0:26:08 > 0:26:09on her six-month timescale
0:26:09 > 0:26:14and determine how her £85,000 budget was to be spent.
0:26:15 > 0:26:19Five months later, we're back to see if this tired old house
0:26:19 > 0:26:21has been woken from its slumber.
0:26:23 > 0:26:27Outside, the fresh paintwork, new windows and a splash of colour
0:26:27 > 0:26:30from the flowers give promising signs.
0:26:30 > 0:26:32Let's hope, though,
0:26:32 > 0:26:34no green fingers have been at work inside.
0:26:37 > 0:26:38Hooray!
0:26:38 > 0:26:40The bright green has gone.
0:26:40 > 0:26:44Instead, there's a muted and calmer colour scheme,
0:26:44 > 0:26:46and much more to my liking.
0:26:46 > 0:26:48It's fantastic.
0:26:48 > 0:26:51And the freshly stripped back floorboards
0:26:51 > 0:26:55lead now past a downstairs cloakroom to the kitchen.
0:26:57 > 0:27:01Oh, this really is fantastic.
0:27:01 > 0:27:04It's completely unrecognisable from before.
0:27:08 > 0:27:11So, we've got a lovely new kitchen/diner down here.
0:27:11 > 0:27:15It used to be a very small kitchen, a downstairs bathroom,
0:27:15 > 0:27:18and a water tank cupboard that's all been taken out
0:27:18 > 0:27:20and opened up to create this lovely new room.
0:27:20 > 0:27:23And this light, inviting kitchen space
0:27:23 > 0:27:26now leads out to a more user-friendly outside area.
0:27:26 > 0:27:29So, we made a big change out here. We've put in bifold doors,
0:27:29 > 0:27:32and we've taken out the greenhouse that was here,
0:27:32 > 0:27:35and Katie's brother put in this amazing patio garden.
0:27:38 > 0:27:39What about upstairs?
0:27:49 > 0:27:51Well, the three bedrooms continue
0:27:51 > 0:27:54with the same sympathetic mix of old and new.
0:27:56 > 0:27:59Hang on a minute. Where's the bathroom?
0:27:59 > 0:28:03Well, one of the big changes is that there was a chimney breast here,
0:28:03 > 0:28:07so we took that out, which gave us space to put a bathroom in.
0:28:07 > 0:28:10I'm really, really pleased with the way it's worked out.
0:28:13 > 0:28:15And so she should be.
0:28:15 > 0:28:18This house really has been taken up a notch or three.
0:28:18 > 0:28:20And she's got her project manager Katie
0:28:20 > 0:28:24and Katie's business partner Bish to thank for that.
0:28:25 > 0:28:27Using a mixture of traditional and contemporary,
0:28:27 > 0:28:31they've produced an elegant, modern home.
0:28:31 > 0:28:33The whole project's been a real restoration
0:28:33 > 0:28:35as opposed to a refurbishment,
0:28:35 > 0:28:37which is what we thought it would be,
0:28:37 > 0:28:40based on the fact that, every time, you'd unearth something new.
0:28:40 > 0:28:44- So, the floorboards were one of the first things we unearthed.- Yeah.
0:28:44 > 0:28:46We didn't know that they were in such good order.
0:28:46 > 0:28:50So, we restored those, sanding those back and then varnishing them.
0:28:50 > 0:28:53We also found the tiles out the front,
0:28:53 > 0:28:54which had four layers of paint on,
0:28:54 > 0:28:57which I had to sit and scrape off with a heat gun.
0:28:57 > 0:28:59- The fireplaces, we put back in again.- Yeah.
0:28:59 > 0:29:01Cos they were just gas. There was no heating -
0:29:01 > 0:29:03central heating - so we've had to put that in.
0:29:03 > 0:29:07And the windows. We put in double glazed original sash windows.
0:29:07 > 0:29:11Other good news was that the crack turned out to be historical.
0:29:11 > 0:29:14By repairing the roof, they sorted out the damp.
0:29:14 > 0:29:17But for all the good things you do unearth in an older property,
0:29:17 > 0:29:19there's also the less desirable finds,
0:29:19 > 0:29:23and in this case, the plaster came off with the wallpaper,
0:29:23 > 0:29:25most of the ceilings needed redoing,
0:29:25 > 0:29:29and Katie also made a rather more painful discovery.
0:29:29 > 0:29:31I might have stood on a four-inch nail,
0:29:31 > 0:29:34and it might have done something to my blood vessel.
0:29:34 > 0:29:37But never mind. It's fine, it's fine.
0:29:37 > 0:29:39So, a night in A&E.
0:29:39 > 0:29:43# Everybody hurts
0:29:43 > 0:29:47# Sometimes. #
0:29:47 > 0:29:49What is it they say? No pain, no gain.
0:29:49 > 0:29:51And there's still a couple of weeks' work
0:29:51 > 0:29:53to sort out some snagging issues.
0:29:53 > 0:29:56But overall, Katie and Bish have delivered the house
0:29:56 > 0:29:57Elizabeth was looking for.
0:29:59 > 0:30:01What about Elizabeth's own little project?
0:30:01 > 0:30:05I was quite heavily pregnant when I bought this house
0:30:05 > 0:30:08and then have since had a little boy,
0:30:08 > 0:30:10so that's kept me fairly busy.
0:30:10 > 0:30:12So, I've really been in the background,
0:30:12 > 0:30:15well, buying things and paying for things.
0:30:16 > 0:30:19Well, you can't put a price on baby Benjamin.
0:30:19 > 0:30:23But how much was that bill for all Katie and Bish's hard work?
0:30:23 > 0:30:27- 84,560.- There we are.
0:30:29 > 0:30:32So, practically spot-on
0:30:32 > 0:30:35at the £85,000 proposed budget.
0:30:35 > 0:30:38And that spend on top of that £590,000 purchase
0:30:38 > 0:30:43takes Elizabeth's cost to just under 675,000.
0:30:43 > 0:30:45So, has bringing this Greenwich house up to date
0:30:45 > 0:30:47been time well spent?
0:30:47 > 0:30:50What do two local estate agents think?
0:30:50 > 0:30:52The refurb in general is a really high spec.
0:30:52 > 0:30:53The kitchen's a really nice spec.
0:30:53 > 0:30:54Really good changes.
0:30:54 > 0:30:57Refurbished the property throughout. Nice flooring.
0:30:57 > 0:30:58Kept the original features as well.
0:30:58 > 0:31:01The period pieces most certainly add value to the property,
0:31:01 > 0:31:02and it adds character.
0:31:02 > 0:31:05And she's also done the perfect blend and mix
0:31:05 > 0:31:07between the contemporary and the period features.
0:31:07 > 0:31:11Encouraging comments, but with plans to sell the house on,
0:31:11 > 0:31:13it's how that translates into cash
0:31:13 > 0:31:19after Elizabeth's spend of £675,000 on the property that really matters.
0:31:19 > 0:31:20To put the property on the market for sale,
0:31:20 > 0:31:24I'd look to put it on for offers over £800,000,
0:31:24 > 0:31:28and I would look to achieve between this figure and £825,000.
0:31:28 > 0:31:32She should be asking around £815,000 to achieve around the £800,000 mark.
0:31:32 > 0:31:33That would be really good.
0:31:33 > 0:31:36You have to actually sell the house for it to matter, though,
0:31:36 > 0:31:39so let's see what we actually get for it.
0:31:39 > 0:31:40Well, that's true,
0:31:40 > 0:31:45but an £800,000 sale price could see a whopping pre-tax profit
0:31:45 > 0:31:48of 125,000.
0:31:48 > 0:31:51Not bad for five months of just supervision work.
0:31:51 > 0:31:56With possible rental returns between £2,200 and £2,600
0:31:56 > 0:31:59per calendar month, giving a yield of around 4%,
0:31:59 > 0:32:02I'm guessing Elizabeth might plan a few more.
0:32:04 > 0:32:07It's been a great success. I've learned so much along the way.
0:32:07 > 0:32:10There have been lots and lots of problems that have come up,
0:32:10 > 0:32:12but we've managed to get through them,
0:32:12 > 0:32:15so I think I would like to try it again
0:32:15 > 0:32:17when the right opportunity comes up.
0:32:21 > 0:32:23DION: The Norfolk Broads has a special place
0:32:23 > 0:32:24in our natural heritage.
0:32:24 > 0:32:28Incredibly, the Broads were widely regarded as natural features
0:32:28 > 0:32:30right up until the 1960s
0:32:30 > 0:32:33when it was proved that they were actually created
0:32:33 > 0:32:37by medieval monks digging peat for fuel.
0:32:37 > 0:32:41# Sail away, sail away, sail away. #
0:32:41 > 0:32:44Sea level rises subsequently flooded the excavations,
0:32:44 > 0:32:49leaving the incredible network of wetlands that we see today.
0:32:49 > 0:32:52The property that I'm here to see is this bar/diner
0:32:52 > 0:32:54that sits alongside the River Bure
0:32:54 > 0:32:56about six miles inland from Great Yarmouth.
0:32:58 > 0:33:01It's also the last place you can moor your boats on the river
0:33:01 > 0:33:03before getting into Great Yarmouth.
0:33:03 > 0:33:08It's got a guide price of in between £150,000 to £170,000.
0:33:08 > 0:33:09Let's take a look.
0:33:09 > 0:33:12# Sail away, sail away, sail away. #
0:33:14 > 0:33:16OK, now, this has surprised me.
0:33:16 > 0:33:18I wasn't expecting it to be as tidy.
0:33:18 > 0:33:20There's carpet on the floor,
0:33:20 > 0:33:22the seats seem to be in an OK condition.
0:33:22 > 0:33:25There's a few panels missing in the ceiling,
0:33:25 > 0:33:28but everything seems OK so far. It needs modernising.
0:33:28 > 0:33:30Everything's dated. Furniture's dated.
0:33:30 > 0:33:33But it must have been used recently
0:33:33 > 0:33:36cos it's not in a dishevelled condition.
0:33:39 > 0:33:40Service!
0:33:41 > 0:33:43Not like the local.
0:33:43 > 0:33:46# Two pints of lager and a packet of crisps, please
0:33:46 > 0:33:49# Two pints of lager and a packet of crisps, please!
0:33:49 > 0:33:51# Why won't you serve me?! #
0:33:53 > 0:33:57Despite the terrible service, you can see the potential in here.
0:33:57 > 0:33:59Around the corner from the bar/diner area
0:33:59 > 0:34:01is an even bigger function room.
0:34:01 > 0:34:04This place could cater for hundreds of punters,
0:34:04 > 0:34:06but that's not all that's on offer.
0:34:08 > 0:34:11The property also comes with a three-bed flat as well.
0:34:11 > 0:34:14From what I can see, it's in nowhere near the same condition.
0:34:14 > 0:34:17It's a pity, really, it's not on the same level
0:34:17 > 0:34:19as the front that I've already seen.
0:34:19 > 0:34:21You've got a toilet and bathroom,
0:34:21 > 0:34:24and a strange place to have a sink.
0:34:24 > 0:34:28It needs a proper reconfigure. It needs a bit of money spent on it.
0:34:28 > 0:34:31But if you're looking to use this as a commercial venture,
0:34:31 > 0:34:33you do have the option of living in.
0:34:35 > 0:34:39So, this property is definitely going to cost the owner a few quid.
0:34:39 > 0:34:40Apart from renovating the flat,
0:34:40 > 0:34:44there are a few jobs in here that do need urgent attention.
0:34:44 > 0:34:47But the bar/diner isn't the only revenue stream.
0:34:50 > 0:34:54# When the weather is fine
0:34:54 > 0:34:59# You know it's a sign
0:34:59 > 0:35:03# For messing about
0:35:03 > 0:35:06# On the river. #
0:35:06 > 0:35:09Out here by the river, you can see the full extent of this lot -
0:35:09 > 0:35:14six acres of land and 400m of moorings.
0:35:14 > 0:35:18I know how important boating is for tourism on the Broads,
0:35:18 > 0:35:20and I know it's a valuable part of this lot.
0:35:20 > 0:35:24However, having lived not too far away from here,
0:35:24 > 0:35:27many years ago, I might add, I've seen many businesses try
0:35:27 > 0:35:32and make money out of this stretch of moorings and failed.
0:35:32 > 0:35:34What could this place be next?
0:35:38 > 0:35:40To help answer that, let's hear a word or two
0:35:40 > 0:35:42from the auctioneer who sold the property.
0:35:44 > 0:35:47With no residential area close by, presumably,
0:35:47 > 0:35:50it's completely dependent on the holiday trade.
0:35:50 > 0:35:53I think it's fair to say that the seasonal trade is very much
0:35:53 > 0:35:56a reason why this hasn't necessarily worked in the past.
0:35:56 > 0:35:57In the summer months, it's been busy,
0:35:57 > 0:36:00but during the winter, especially on a bleak winter's day,
0:36:00 > 0:36:02there's not much going past here
0:36:02 > 0:36:03in terms of trade.
0:36:03 > 0:36:07I think this property really deserves a bit of further investment
0:36:07 > 0:36:10to turn it back into a successful eatery.
0:36:10 > 0:36:12It needs to be somewhere where people come all year round
0:36:12 > 0:36:14rather than just a seasonal audience.
0:36:14 > 0:36:17Yes, you need to cater for the Broads trade along the river,
0:36:17 > 0:36:21but in the wintertime, you need the local people to be using it -
0:36:21 > 0:36:23somewhere to come and eat and relax.
0:36:25 > 0:36:28That sounds like a reasonable plan,
0:36:28 > 0:36:30but how much does he reckon will need to be invested here
0:36:30 > 0:36:33to bring commercial life back to this place?
0:36:33 > 0:36:38You probably would need to spend circa £100,000 straightaway
0:36:38 > 0:36:39on the whole building.
0:36:39 > 0:36:42I'd be surprised if you could get away with much less than that,
0:36:42 > 0:36:45and I'm sure you could spend an awful lot more
0:36:45 > 0:36:47if you went to town on the surrounding area
0:36:47 > 0:36:50and the grounds itself, cos with six acres,
0:36:50 > 0:36:51that needs an investment as well.
0:36:53 > 0:36:57And can he estimate how much it would be worth after a face-lift?
0:36:57 > 0:36:58I would've thought, probably,
0:36:58 > 0:37:02if you could get a rental income of around £20,000,
0:37:02 > 0:37:05which is what I think you would probably get for it at the moment,
0:37:05 > 0:37:07you could be looking at an investment worth
0:37:07 > 0:37:09somewhere between £250,000 and £300,000.
0:37:11 > 0:37:14There's so many appealing factors to this property -
0:37:14 > 0:37:20the commercial space, the flat, the moorings and six acres of land.
0:37:20 > 0:37:24Loads to entice prospective commercial buyers.
0:37:24 > 0:37:26What's in store for this riverside gem?
0:37:26 > 0:37:28Let's go to auction and find out.
0:37:30 > 0:37:32Lot 16.
0:37:32 > 0:37:35It's a substantial building, been many things in the past,
0:37:35 > 0:37:37but obviously, ready for a new lease of life.
0:37:37 > 0:37:39Put me in at 160, someone.
0:37:39 > 0:37:43150 then. £150,000 to start me.
0:37:43 > 0:37:44140.
0:37:44 > 0:37:48140,000. Thank you, we're away. Seated at £140,000.
0:37:48 > 0:37:50I'm going to take it in twos.
0:37:50 > 0:37:54That cut of 20 grand was enough to get the bidding started,
0:37:54 > 0:37:56but there wasn't a great deal of interest
0:37:56 > 0:37:57in this commercial property.
0:37:57 > 0:38:02We rejoin the auction with the price at £167,000.
0:38:02 > 0:38:05£167,000 I've got.
0:38:05 > 0:38:07For the first time...
0:38:07 > 0:38:09Sorry, 168.
0:38:09 > 0:38:11Yes, 168. 169?
0:38:11 > 0:38:16169. 170? At £169,000.
0:38:16 > 0:38:17We're in the room, make no mistake.
0:38:17 > 0:38:21It's against you, against you at 169 on the right.
0:38:21 > 0:38:23At 169 for the first time.
0:38:23 > 0:38:26169 for the second time.
0:38:26 > 0:38:30At 169,000, third and final time.
0:38:30 > 0:38:31Congratulations. Well done, sir.
0:38:33 > 0:38:35It was Hamish who made that final bid
0:38:35 > 0:38:40on behalf of these two ladies, Sunita on the left and Vandana.
0:38:42 > 0:38:44They have big plans for this property,
0:38:44 > 0:38:46so I met up with them for a bit of a chat.
0:38:51 > 0:38:53- Sunita, nice to meet you. - Nice to meet you.
0:38:53 > 0:38:56- Nice to meet you too, Vandana. - Nice to meet you too.
0:38:56 > 0:38:58- And congratulations. BOTH:- Thank you.
0:38:58 > 0:39:00- You got a big property. - It is, yes.- It is.
0:39:00 > 0:39:03Tell us what it was like at the auction.
0:39:03 > 0:39:06Going to auction was just destined, probably.
0:39:06 > 0:39:07And it was out of the blue
0:39:07 > 0:39:11because the property, we had seen a few years ago -
0:39:11 > 0:39:16three years ago - but at that time, it was on a very high budget
0:39:16 > 0:39:18and we could not make our mind to go for it.
0:39:18 > 0:39:20But this time, when she saw, she said,
0:39:20 > 0:39:23"Hey, it's come up again. Do you want to come?"
0:39:23 > 0:39:29- We saw this on Tuesday and then I was motivated...- Yes.
0:39:29 > 0:39:34..and supported to go on to auction on Wednesday.
0:39:34 > 0:39:39And between Tuesday's viewing and Wednesday morning,
0:39:39 > 0:39:42we had made up our mind - this is the place we have been looking for.
0:39:45 > 0:39:48So, this is no spur of the moment purchase.
0:39:48 > 0:39:52Sunita, who is a GP, and Vandana, who works at Lowestoft College,
0:39:52 > 0:39:54have had their eye on this place for three years
0:39:54 > 0:39:58and have bided their time until they've had the money to afford it.
0:39:59 > 0:40:00They bought this unusual lot
0:40:00 > 0:40:04as a centre for their Hindu prayer group.
0:40:04 > 0:40:07There's been an increase in our population with the children,
0:40:07 > 0:40:10so we've been doing our prayer ceremonies once a month
0:40:10 > 0:40:12in one of the church halls for the last 13 years,
0:40:12 > 0:40:16but as the numbers have increased, parking becomes a problem,
0:40:16 > 0:40:19children want more activity, adults want more activity.
0:40:19 > 0:40:21And as we are all getting older,
0:40:21 > 0:40:24we're going to need a place where we can all, you know,
0:40:24 > 0:40:28sit in the evenings and have a talk with each other and meet socially.
0:40:28 > 0:40:31And obviously, we do like to eat together as well,
0:40:31 > 0:40:34so this has been a bring-a-dish party with a social event,
0:40:34 > 0:40:37which we've been doing for 13 years once a month...
0:40:37 > 0:40:40- Wow.- ..in the church hall. - What a great idea.- Yeah.- Yeah.
0:40:40 > 0:40:45We do a prayer and we finish with a communal meal.
0:40:45 > 0:40:47Everyone brings a dish, we plan the menu,
0:40:47 > 0:40:51and then we all sit together as a community and share that.
0:40:51 > 0:40:54It seems like the perfect solution for the building
0:40:54 > 0:40:57that just wasn't working as a commercial enterprise.
0:40:57 > 0:41:00But what changes do they plan to make here?
0:41:00 > 0:41:04There's a plan because, obviously, you can see this is a diner place.
0:41:04 > 0:41:07It's got lots of other areas where people can sit.
0:41:07 > 0:41:10So, what we've done is we're going to make this as a stage
0:41:10 > 0:41:13where we will do our regular prayer ceremony,
0:41:13 > 0:41:15and we're going to make this into a small hall
0:41:15 > 0:41:20where people can sit either on the floor or on the chairs,
0:41:20 > 0:41:22which we'll have enough place there.
0:41:22 > 0:41:25There's a plan to put a place of worship right at the back
0:41:25 > 0:41:28because we've got, like, three societies in Norwich area.
0:41:28 > 0:41:31Eventually, we'd like to amalgamate everyone.
0:41:31 > 0:41:34And hopefully, everybody can come together here
0:41:34 > 0:41:37for the various functions that we do.
0:41:37 > 0:41:39So, tell us, who's going to do the work?
0:41:39 > 0:41:41Now you've got it, who's the main people?
0:41:41 > 0:41:43OK, we have people already involved
0:41:43 > 0:41:46and there are some builders that we have known for a long time.
0:41:46 > 0:41:49So, the main work which needs to be done is of the roof over here
0:41:49 > 0:41:53and also, obviously, making this hall to be for people
0:41:53 > 0:41:55to be able to use it.
0:41:55 > 0:41:57We have plans, if we can get this working
0:41:57 > 0:41:59within the next couple of months,
0:41:59 > 0:42:02to start our usual prayers that we do,
0:42:02 > 0:42:05which is usually on the second Sunday of the month.
0:42:05 > 0:42:07Time will tell us, hopefully, soon.
0:42:07 > 0:42:09- You've got three bedrooms back there as well.- Yes, yes.
0:42:09 > 0:42:11That will be for people...
0:42:11 > 0:42:14We'll hopefully have a caretaker
0:42:14 > 0:42:17or if any visitors come, they come and do a talk or anything,
0:42:17 > 0:42:20so there will be room for them to be staying overnight.
0:42:20 > 0:42:23So, there's enough room to do lots of things in here.
0:42:25 > 0:42:28And how much money will the group need to spend on this place
0:42:28 > 0:42:29to make it fit for purpose?
0:42:30 > 0:42:32At present, our budget, I think,
0:42:32 > 0:42:35is going to be £50,000 to start with,
0:42:35 > 0:42:37to get the place off and running.
0:42:37 > 0:42:39And then we will be seeing, over a period of time,
0:42:39 > 0:42:41what needs to be done.
0:42:41 > 0:42:42So, we're going to do things in stages
0:42:42 > 0:42:45because, otherwise, we'll be running out of money
0:42:45 > 0:42:49because at present, we have put in the money ourselves.
0:42:49 > 0:42:54We will be looking to raise some funds from the local community
0:42:54 > 0:42:56and also we've been asking our local council,
0:42:56 > 0:42:58see if they've got any funding available
0:42:58 > 0:43:00for community halls and things
0:43:00 > 0:43:03cos I believe there is some money through the lottery funds
0:43:03 > 0:43:06- are available, but we have to resource that.- Yeah.
0:43:06 > 0:43:08But at present, we can manage with that,
0:43:08 > 0:43:10and then let's see what happens.
0:43:10 > 0:43:12Well, I can see the commitment from both of you,
0:43:12 > 0:43:15I can hear the passion in your voices,
0:43:15 > 0:43:18and if the community's anything like you, you're onto a winner.
0:43:18 > 0:43:21- Thank you.- Good luck. Good luck, ladies, both of you.- Thank you.
0:43:21 > 0:43:23Vandana and Sunita have got grand plans
0:43:23 > 0:43:27to turn this into a community space and a religious centre.
0:43:27 > 0:43:29And having lived - many years ago, mind -
0:43:29 > 0:43:32not too far from here, I've seen many businesses come and go
0:43:32 > 0:43:35trying to make it in this particular spot,
0:43:35 > 0:43:36so I think it's a great idea
0:43:36 > 0:43:39that they're keeping it relevant to the local community
0:43:39 > 0:43:42and stopping a building like this fall into disrepair.
0:43:42 > 0:43:44You can find out how they turn it round,
0:43:44 > 0:43:46how they transform this building later on in the programme.
0:43:49 > 0:43:52So, now we've seen what happened to one of those properties,
0:43:52 > 0:43:53what about the other two?
0:43:53 > 0:43:56Yeah, did they stick to their plans or did it all go wrong?
0:43:56 > 0:43:57Let's go back and find out.
0:43:59 > 0:44:01Welcome back to Chatham in Kent,
0:44:01 > 0:44:06and this three-storey townhouse with a guide price of 160,000.
0:44:06 > 0:44:10It had been split into a two-bedroom house upstairs
0:44:10 > 0:44:12and a one-bedroom basement flat.
0:44:12 > 0:44:14The upper property was a good size,
0:44:14 > 0:44:18but it definitely brought out all my hidden wall-demolition tendencies.
0:44:18 > 0:44:20Eat your heart out, Lucy!
0:44:20 > 0:44:23I'll tell you what, that wants to go completely.
0:44:23 > 0:44:25Take out this wall as well. Take out walls.
0:44:25 > 0:44:27Is there a bit of playing around with internal walls?
0:44:27 > 0:44:30Take all these walls out, make it completely open-plan.
0:44:30 > 0:44:33# Walls come tumbling down! #
0:44:33 > 0:44:36Ah, this programme's not called Homes Under The Hammer for nothing,
0:44:36 > 0:44:39you know. Anyway, quite apart from dismantling the floor,
0:44:39 > 0:44:43I thought there was more to do by creating a third bedroom upstairs.
0:44:43 > 0:44:45But this wasn't a project for the faint-hearted
0:44:45 > 0:44:49as the basement was in need of a lot of work too.
0:44:49 > 0:44:51Racing to tackle this property was Bernie,
0:44:51 > 0:44:55an experienced property developer and car enthusiast
0:44:55 > 0:44:58who paid £215,000 for it.
0:44:58 > 0:45:02His experience told him that the property's configuration was
0:45:02 > 0:45:04not going to be straightforward to resolve.
0:45:04 > 0:45:09It's clearly been two units - the house and the basement flat -
0:45:09 > 0:45:12but it doesn't appear to be legally two units.
0:45:12 > 0:45:14The real timescale on this
0:45:14 > 0:45:16is going to be that paperwork on the leases...
0:45:16 > 0:45:19- Right.- ..and the certificate of lawfulness
0:45:19 > 0:45:21or planning permission.
0:45:21 > 0:45:24Bernie's experience told him this configuration wrangle
0:45:24 > 0:45:26might take longer than the renovation,
0:45:26 > 0:45:30which builder Ray had costed at £35,000
0:45:30 > 0:45:32with a timescale of three months.
0:45:34 > 0:45:36Well, almost three months later, we're back.
0:45:36 > 0:45:40Did they get over the finish line in time?
0:45:40 > 0:45:42MUSIC: Open Up by Leftfield
0:45:49 > 0:45:53The shell that was the basement flat has been completely transformed.
0:45:53 > 0:45:57It's bright, clean and, thankfully, has had a bathroom added.
0:46:02 > 0:46:04Moving to the upper property, and what do you know,
0:46:04 > 0:46:06those walls have been removed.
0:46:06 > 0:46:09Just look at the difference it makes.
0:46:09 > 0:46:11The house feels so spacious now.
0:46:11 > 0:46:14There have been layout changes upstairs, too.
0:46:15 > 0:46:17What's changed upstairs here
0:46:17 > 0:46:20is that we've created a third bedroom.
0:46:20 > 0:46:24We've moved the bathroom into here.
0:46:24 > 0:46:26We've left the master bedroom -
0:46:26 > 0:46:28we have taken a small amount of space from it,
0:46:28 > 0:46:31and it's grown a built-in wardrobe -
0:46:31 > 0:46:36and created two smaller bedrooms to make it a three-bedroom place.
0:46:36 > 0:46:38I knew that would be worth doing.
0:46:38 > 0:46:40The old bathroom has become bedroom number three
0:46:40 > 0:46:44and Bernie's builder Ray has pinched some space from the master bedroom
0:46:44 > 0:46:48and the other bedroom to create a decent-sized bathroom.
0:46:48 > 0:46:51And it's not just the inside that's been reconfigured.
0:46:51 > 0:46:53Well, the garden was originally associated
0:46:53 > 0:46:55with the basement flat.
0:46:55 > 0:46:58And we thought, with a three-bedroom property,
0:46:58 > 0:47:00it's got to be more of a family home,
0:47:00 > 0:47:03and therefore, it needs a garden.
0:47:03 > 0:47:04So, we switched the garden,
0:47:04 > 0:47:09for the bulk of the garden to be associated with the main house,
0:47:09 > 0:47:14but we had to put in these stairs here to allow access to the garden.
0:47:14 > 0:47:16And we fenced off a small section there,
0:47:16 > 0:47:19which is still attached to the basement flat,
0:47:19 > 0:47:21so they have a barbecue area,
0:47:21 > 0:47:24a smoking area, a small area outside.
0:47:24 > 0:47:27- # Let's go outside - Let's go outside
0:47:27 > 0:47:29# In the sunshine
0:47:29 > 0:47:32# Take me to the places that I love best. #
0:47:32 > 0:47:35Bernie and Ray clearly have this renovation lark sorted,
0:47:35 > 0:47:39and I'm betting he won't be far off that £35,000 budget.
0:47:43 > 0:47:46We've actually spent 36,660.
0:47:46 > 0:47:49A perfectly acceptable overspend in my book,
0:47:49 > 0:47:52and the work actually only took ten weeks.
0:47:52 > 0:47:54But just as Bernie predicted,
0:47:54 > 0:47:58it's sorting the lease issue that's taken time.
0:47:58 > 0:48:03A bit of a backlog at the Land Registry, apparently,
0:48:03 > 0:48:06and the solicitor who's working on the leases for me
0:48:06 > 0:48:07couldn't start that
0:48:07 > 0:48:13until the property was formally registered in my name,
0:48:13 > 0:48:15and that only came through last week.
0:48:15 > 0:48:18So, we've literally really just started
0:48:18 > 0:48:21the application for the two leases.
0:48:22 > 0:48:25Fingers crossed it all comes good soon, Bernie.
0:48:25 > 0:48:26But in the meantime,
0:48:26 > 0:48:30let's ask some agents what they make of the renovation.
0:48:30 > 0:48:33First, the agent who saw it previously.
0:48:33 > 0:48:35I think the changes
0:48:35 > 0:48:36to the flats are amazing.
0:48:36 > 0:48:39They have done so much work in such a short time.
0:48:39 > 0:48:41And I love what they've done
0:48:41 > 0:48:42cos they've kept all the features,
0:48:42 > 0:48:45which I think is the main thing you needed to do.
0:48:45 > 0:48:47The one-bedroom flat below is a good size.
0:48:47 > 0:48:50It has a nice-sized bedroom and has also been fitted out quite nicely.
0:48:50 > 0:48:52The three-bedroom property is nice.
0:48:52 > 0:48:54It's also been done neutrally, which will appeal to a lot of people.
0:48:54 > 0:48:56The standard seems to be really good
0:48:56 > 0:48:59and it's a nice size with a good garden.
0:48:59 > 0:49:02Both agents thought the flats combined could earn £1,600
0:49:02 > 0:49:06per calendar month. That's just over a 7.5% yield.
0:49:06 > 0:49:07But Bernie wants to sell them
0:49:07 > 0:49:11after he's sorted out the lease issue, of course.
0:49:11 > 0:49:15He spent a total of just under £252,000 on the entire project,
0:49:15 > 0:49:18so what could the flats sell for?
0:49:18 > 0:49:20I would say the one-bedroom flat is worth between £110,000
0:49:20 > 0:49:23and £125,000, and the three-bedroom property -
0:49:23 > 0:49:27worth between £200,000 and £215,000 in today's market.
0:49:27 > 0:49:32The lower flat, I would be looking to market at £110,000 to £120,000,
0:49:32 > 0:49:36and the upper flat, in the region of £180,000.
0:49:36 > 0:49:41We're looking at if we can get 300 in total for the two,
0:49:41 > 0:49:45then that's where we were aiming.
0:49:45 > 0:49:48And frankly, anything above that is a bonus.
0:49:49 > 0:49:53That's a top combined price of £340,000.
0:49:53 > 0:49:57And with a total spend of just under 252,000,
0:49:57 > 0:50:02that would give Bernie a pre-tax profit of around £88,000.
0:50:02 > 0:50:04That is a great result.
0:50:04 > 0:50:07But let's remember, he will not be able to sell
0:50:07 > 0:50:10until that freehold situation is sorted.
0:50:10 > 0:50:13And the longer it takes, the more it's going to cost.
0:50:13 > 0:50:16So, will Bernie be heading to the car
0:50:16 > 0:50:19or the property auction next to spend his profit?
0:50:23 > 0:50:27HE LAUGHS I'm going to go with both.
0:50:27 > 0:50:29Houses, I do for money,
0:50:29 > 0:50:32and the money that comes from the houses
0:50:32 > 0:50:35helps pay for American muscle cars and holidays.
0:50:39 > 0:50:42DION: We're heading back east to the Norfolk Broads.
0:50:45 > 0:50:47This bar/diner was the property on offer,
0:50:47 > 0:50:51and on first inspection, it seemed in perfect working order.
0:50:51 > 0:50:54The question is, could I sneak in a quick pint before lunch?
0:50:55 > 0:50:56Service!
0:50:58 > 0:50:59Not like the local.
0:51:00 > 0:51:03Alas, while the bar was dry,
0:51:03 > 0:51:05the same couldn't be said for the kitchen.
0:51:06 > 0:51:09# Drip, drip, drippity, drop
0:51:09 > 0:51:11# Oh, well, the roof is leaking
0:51:11 > 0:51:15# And the rain's falling on my head. #
0:51:15 > 0:51:18So, some major roof repairs to be undertaken,
0:51:18 > 0:51:22but overall, plenty of space inside and out.
0:51:22 > 0:51:24It seemed like the ideal opportunity
0:51:24 > 0:51:28for someone to relaunch this place as a food and drink outlet.
0:51:28 > 0:51:31But its location in the heart of the Broads meant that,
0:51:31 > 0:51:34whilst in the summer, it would flourish, in the winter,
0:51:34 > 0:51:36I think would be a little bit more challenging.
0:51:39 > 0:51:43Thankfully, a solution arrived in the form of Vandana and Sunita,
0:51:43 > 0:51:46representatives of the Hindu community in Norfolk
0:51:46 > 0:51:49who have been searching for a number of years for a premises
0:51:49 > 0:51:52that could be used as a religious centre
0:51:52 > 0:51:55for their worship and community activities.
0:51:55 > 0:51:58We've got three societies in Norwich area.
0:51:58 > 0:52:00Eventually, we'd like to amalgamate everyone.
0:52:03 > 0:52:07Purchasing the property for £169,000 at auction,
0:52:07 > 0:52:10Vandana and Sunita hope that their 50 grand budget
0:52:10 > 0:52:13would be sufficient to turn around the building
0:52:13 > 0:52:15for its new purpose within two months.
0:52:20 > 0:52:22Well, one year has passed
0:52:22 > 0:52:24and we've come back to see how things are going.
0:52:26 > 0:52:29The fabric of the property hasn't changed a great deal.
0:52:29 > 0:52:32It's still very recognisable as the bar/diner it once was,
0:52:32 > 0:52:36but this was never going to be a bricks and mortar transformation.
0:52:40 > 0:52:44What has made a difference is how people are using this building.
0:52:53 > 0:52:56It's now a fully functioning centre where people can gather
0:52:56 > 0:53:00to worship, meditate, socialise and hold events.
0:53:00 > 0:53:03It's the flexibility that makes this building ideal
0:53:03 > 0:53:05for the local Hindu community.
0:53:06 > 0:53:08Hinduism is very diverse.
0:53:08 > 0:53:13Every Hindu has a different way of practising Hinduism.
0:53:13 > 0:53:15It differs from every person to person
0:53:15 > 0:53:17how you believe in your faith.
0:53:17 > 0:53:21But having this place, you can just be here,
0:53:21 > 0:53:25and by chanting, once you can feel that inner peace within yourself,
0:53:25 > 0:53:29probably, you touch the Hinduism in the right way.
0:53:31 > 0:53:34But before the Hindu community could move in,
0:53:34 > 0:53:36there were a whole host of serious issues
0:53:36 > 0:53:38that needed to be addressed.
0:53:38 > 0:53:42When we acquired the building, there was no heating,
0:53:42 > 0:53:45or no electric connections in the building.
0:53:45 > 0:53:47There was no hot water.
0:53:47 > 0:53:50So, the basic things needed to be done.
0:53:50 > 0:53:53Also, there was a problem with the roofing.
0:53:53 > 0:53:56There were quite massive leaks in the entrance reception,
0:53:56 > 0:53:59kitchen and the hall at the back.
0:53:59 > 0:54:01So, that has been sorted.
0:54:01 > 0:54:06Outside of the building needed the security gates to be done
0:54:06 > 0:54:11and we have got an intruder alarm and we have got CCT cameras
0:54:11 > 0:54:14put in place to keep the building safe and secure.
0:54:16 > 0:54:19The ladies were keen to be able to use the adjoining flat
0:54:19 > 0:54:21as visitor accommodation.
0:54:21 > 0:54:23And with the installation of a new kitchen
0:54:23 > 0:54:26and a bit of a spruce up when it comes to decoration,
0:54:26 > 0:54:27this place is much more habitable.
0:54:32 > 0:54:36This is a long-term project which recently secured charitable status,
0:54:36 > 0:54:41so much more work is planned for the future when funding is assured.
0:54:41 > 0:54:44The group had an initial budget of £50,000
0:54:44 > 0:54:46to make the building viable,
0:54:46 > 0:54:50but have so far spent in excess of £70,000,
0:54:50 > 0:54:53and that will no doubt increase as time passes.
0:54:53 > 0:54:55However, to offset the spending,
0:54:55 > 0:54:57there was a little business opportunity out back.
0:54:59 > 0:55:01The river is used for the mooring.
0:55:01 > 0:55:04We've got next door - the windmill -
0:55:04 > 0:55:09and as we share the mooring, he collects the rent of the boats
0:55:09 > 0:55:12and then we share the money which comes in,
0:55:12 > 0:55:15which is not a lot, but that can go towards the charity
0:55:15 > 0:55:18for any little purpose that we have.
0:55:18 > 0:55:23The pub over here before was busy at times, but not all the time.
0:55:23 > 0:55:25In fact, we've had visitors from the boat area,
0:55:25 > 0:55:27when they see us here,
0:55:27 > 0:55:29- in case there's some food being served.- Yes.
0:55:29 > 0:55:32I think, on summers, we do plan to offer the food to them
0:55:32 > 0:55:34because that's the time...
0:55:34 > 0:55:36That's what we are here for - the community.
0:55:36 > 0:55:38It'll be nice to have other people join in as well.
0:55:41 > 0:55:43Despite running 20 grand over budget,
0:55:43 > 0:55:47Sunita and Vandana are delighted at how the project is developing
0:55:47 > 0:55:51and by how they have been received by the local community.
0:55:51 > 0:55:54We've actually had quite a few local people from the village
0:55:54 > 0:55:58who came on Sunday to actually see what the temple was like
0:55:58 > 0:56:02because they had never seen a temple in Norfolk.
0:56:02 > 0:56:05So, that is what has been a big achievement for us here,
0:56:05 > 0:56:08- so we're very happy to have this.- Yeah.
0:56:10 > 0:56:12Time now for some property expertise,
0:56:12 > 0:56:15and who better to look around this rejuvenated building
0:56:15 > 0:56:18than the auctioneer who sold the property in the first place?
0:56:18 > 0:56:20What does he make of the changes they have made?
0:56:21 > 0:56:23Well, I think it's a work in progress.
0:56:23 > 0:56:27I think what they've done so far is a bit of a Make Do and Mend job.
0:56:27 > 0:56:29It's certainly improved.
0:56:29 > 0:56:31It's a little bit warmer than it was when I came before
0:56:31 > 0:56:33and it's watertight now.
0:56:33 > 0:56:36And decoratively, it's improved.
0:56:36 > 0:56:38I think there's still plenty of work to do to the property
0:56:38 > 0:56:42to really bring it into the way they'd really like it in the future,
0:56:42 > 0:56:47but as a community property, it's moving forward quite well.
0:56:49 > 0:56:52This is a very unusual renovation for Homes Under The Hammer.
0:56:52 > 0:56:55I don't think we've featured a temple before.
0:56:55 > 0:56:58Money is a secondary factor, but let's find out
0:56:58 > 0:57:01what the hard work has meant for this building in terms of values.
0:57:01 > 0:57:05Adding that 70 grand spend means the total investment here
0:57:05 > 0:57:09comes to £239,000.
0:57:09 > 0:57:12What does he think the building is worth in its current condition?
0:57:12 > 0:57:14It's a bit difficult to put an accurate value
0:57:14 > 0:57:17on this particular property because of its community facility,
0:57:17 > 0:57:20but from a commercial point of view,
0:57:20 > 0:57:24I'd have thought round about £250,000 as it stands.
0:57:24 > 0:57:26With a few more improvements,
0:57:26 > 0:57:29certainly to the general area and the car park etc,
0:57:29 > 0:57:32it might move up to £300,000 by the time they've finished.
0:57:33 > 0:57:35So, a small potential profit here,
0:57:35 > 0:57:37but the Hindu community in Norfolk
0:57:37 > 0:57:40have found something much more valuable -
0:57:40 > 0:57:43a space that works for them and the tranquil setting
0:57:43 > 0:57:47with enough flexibility to adapt to their future needs.
0:57:47 > 0:57:49You might be able to put a value on that,
0:57:49 > 0:57:51but I'd say it was priceless.
0:57:51 > 0:57:55That's probably how we look at it - as a blessing,
0:57:55 > 0:57:58something which was meant to happen at the right time
0:57:58 > 0:58:01and is a dream come true, definitely.
0:58:03 > 0:58:07Well, property developing is full of trials and tribulations.
0:58:07 > 0:58:10Yeah, it can require stamina and endurance to get to the end.
0:58:10 > 0:58:13Yeah, join us next time on Homes Under The Hammer
0:58:13 > 0:58:16- to see who's got what it takes. Bye.- Goodbye.- Goodbye.