0:00:02 > 0:00:03Hello, and welcome to the programme.
0:00:03 > 0:00:06None of us who have a crystal ball so knowing when or where to invest
0:00:06 > 0:00:09- in property, it can sometimes be tricky.- Yeah, that's correct.
0:00:09 > 0:00:11And taking the plunge needn't be that scary, there's
0:00:11 > 0:00:12some good deals out there.
0:00:12 > 0:00:15Yeah. And one way you might be able to pick them up is by heading to
0:00:15 > 0:00:17your local property auction.
0:00:43 > 0:00:47Well, property auctions are for all sorts of possibilities,
0:00:47 > 0:00:50- but you need to be eagle-eyed to spot a bargain.- Yes.
0:00:50 > 0:00:53So what caught the eye of today's buyers in the auction catalogue?
0:00:53 > 0:00:56Yes, what do they walk out the room with? Let's find out.
0:00:57 > 0:01:02In Buckinghamshire, this house really has some design issues.
0:01:02 > 0:01:04As it stands at the moment, it's not working.
0:01:07 > 0:01:14Whereas we catch up with a property in Cheshire I first saw in 2004.
0:01:14 > 0:01:15Meet the man on a mission.
0:01:17 > 0:01:20And in South London, there is a house
0:01:20 > 0:01:24I'm really struggling to get my head round.
0:01:24 > 0:01:26It's all a little bit topsy-turvy in this room.
0:01:28 > 0:01:30All these properties have been sold at auction.
0:01:30 > 0:01:33We'll find out who bought them and what they paid for them
0:01:33 > 0:01:35when they went under the hammer.
0:01:35 > 0:01:36Yours, sir, thank you. Well done.
0:01:41 > 0:01:45We are visiting Stony Stratford now, which forms part of Milton Keynes
0:01:45 > 0:01:46in Buckinghamshire.
0:01:49 > 0:01:52Now, one of Stony Stratford's claims to fame is that the phrase
0:01:52 > 0:01:56"a cock and bull story" describing tales are far-fetched
0:01:56 > 0:02:01and rather fanciful, allegedly originated right here.
0:02:01 > 0:02:05Now, it supposedly came from the fact there were two former
0:02:05 > 0:02:07coaching inns in the old town right here.
0:02:07 > 0:02:10One called The Cock and one called The Bull.
0:02:10 > 0:02:14Whether it is a true story or not, it could be a cock and bull tale
0:02:14 > 0:02:18all of its own, but it certainly makes for a great story.
0:02:20 > 0:02:22# I heard a rumour
0:02:22 > 0:02:26# Yes, I did, boy, ooh-oh-ooh. #
0:02:26 > 0:02:29The property I'm here to see lies quite close to the high street
0:02:29 > 0:02:33on this residential road full of Victorian terraced houses.
0:02:33 > 0:02:34Now, here it is.
0:02:34 > 0:02:36It's got three bedrooms and it
0:02:36 > 0:02:40went to auction with a guide price of £140,000.
0:02:40 > 0:02:41And it's very blue!
0:02:44 > 0:02:50Yes, there's an awful lot of woodchip, but I'm not put off.
0:02:50 > 0:02:54There's polystyrene tiles on the ceiling, but I'm not put off.
0:02:54 > 0:02:57There's a whole load of damp just there with plaster on the floor,
0:02:57 > 0:02:58but I'm still not put off.
0:02:58 > 0:03:05An inside, into the sitting-room, there's a brick-effect wallpaper
0:03:05 > 0:03:09and a period of fireplace, but it just seems to be the wrong period.
0:03:09 > 0:03:12This is a Victorian house, so I think I'd have to change that for
0:03:12 > 0:03:14something a little more in keeping.
0:03:14 > 0:03:16That's definitely got to go.
0:03:16 > 0:03:19Hmm, I'm not quite sure about this glass window.
0:03:19 > 0:03:23I think I'd be more inclined to brick this up and have this as
0:03:23 > 0:03:24a separate little sitting-room.
0:03:24 > 0:03:28So there's loads you can do to bring this up to scratch,
0:03:28 > 0:03:31but, yes, you need to start as soon as you can
0:03:31 > 0:03:32because as it stands at the moment,
0:03:32 > 0:03:34it's not working.
0:03:35 > 0:03:39Something else that won't be working is anything in this kitchen,
0:03:39 > 0:03:41if you can call it that.
0:03:41 > 0:03:45Actually, I call it pokey, so an extension
0:03:45 > 0:03:47has to be on the menu here.
0:03:47 > 0:03:50A pinch of the garden and you'll have the perfect recipe for
0:03:50 > 0:03:52a family-sized kitchen.
0:03:52 > 0:03:56So, upstairs some rather unusual paint choices, I see.
0:03:56 > 0:04:00But you have got two fabulous bedrooms there, one here,
0:04:00 > 0:04:02and some lovely sash windows
0:04:02 > 0:04:04to the front, which once refurbished will look amazing.
0:04:04 > 0:04:07Ah-ha-ha. And the bathroom!
0:04:07 > 0:04:10Now, that's a rather unusual place to put a loo.
0:04:10 > 0:04:14You've got a kind of curve bath here against the back wall.
0:04:14 > 0:04:16It's quite a luxury to have a bathroom of this size.
0:04:16 > 0:04:20I think in a previous life this may have been another bedroom.
0:04:20 > 0:04:24So, you could try and sneak this bathroom in somewhere else
0:04:24 > 0:04:27in the house and turn this back into bedroom four or you could think
0:04:27 > 0:04:30about potentially going up into the loft, but you may need to steal
0:04:30 > 0:04:33a little bit of this space to get some stairs to go up there.
0:04:33 > 0:04:38So, I think this house really does need a big layout change.
0:04:38 > 0:04:42This bathroom needs an overhaul no matter where it goes.
0:04:42 > 0:04:44But there are plenty of options,
0:04:44 > 0:04:46so you should find yourself backed into a corner.
0:04:48 > 0:04:53# Oh, come along with me
0:04:53 > 0:04:57# To my little corner of the world. #
0:04:57 > 0:05:01Now, one issue which was mentioned in the legal pack is that this area
0:05:01 > 0:05:03is an area identified as possibly
0:05:03 > 0:05:07being at risk from raised levels of radon.
0:05:07 > 0:05:10Now, radon is radioactive gas formed
0:05:10 > 0:05:14naturally by the decay in the rocks and soil around us.
0:05:14 > 0:05:18Outside air levels are usually quite low, but the gas can accumulate
0:05:18 > 0:05:19inside buildings.
0:05:19 > 0:05:21And certain areas of the country,
0:05:21 > 0:05:24well, they are more prone to the problems than others.
0:05:24 > 0:05:29So, my suggestion is get in an expert as soon as possible
0:05:29 > 0:05:30to check the levels.
0:05:30 > 0:05:33Radon levels are associated with
0:05:33 > 0:05:36health issues, but you need to get a test done
0:05:36 > 0:05:38before you start getting concerned.
0:05:38 > 0:05:40Is there anything to worry about here?
0:05:41 > 0:05:43Time to ask a local property expert.
0:05:45 > 0:05:48Radon is certainly not an issue for Stony Stratford.
0:05:48 > 0:05:50Local test results show a 1 to 3% risk.
0:05:50 > 0:05:54If you do have a problem with radon, there are many solutions.
0:05:54 > 0:05:57They vary from about £500 up to £2,000.
0:05:57 > 0:06:02You can get a company in just to seal up pipes and anywhere around
0:06:02 > 0:06:06loft hatches that are accessible to the ground.
0:06:06 > 0:06:08Or you go as far as installing fans
0:06:08 > 0:06:12and sumps, which will be about £2,000.
0:06:13 > 0:06:15Forewarned is forearmed.
0:06:15 > 0:06:18Now, the house needs a total refurbishment, but would it be
0:06:18 > 0:06:20worth extending?
0:06:21 > 0:06:23Definitely worthwhile adding
0:06:23 > 0:06:25square footage to increase the accommodation.
0:06:25 > 0:06:28The kitchen really requires doubling in size.
0:06:28 > 0:06:31There's potential to go into the loft space to gain maybe
0:06:31 > 0:06:33a fourth bedroom.
0:06:33 > 0:06:37I'm fully aware that a house locally has achieved a very high value
0:06:37 > 0:06:39by doing that.
0:06:39 > 0:06:41Now, that's positive feedback.
0:06:41 > 0:06:42And the agent thinks the value for
0:06:42 > 0:06:48this three-bed with a kitchen extension would be 295,000,
0:06:48 > 0:06:51which is more than double the guide price.
0:06:51 > 0:06:53What about it as a four-bed?
0:06:53 > 0:06:56If you extended into the loft space to gain the fourth bedroom,
0:06:56 > 0:06:59maybe an en suite to service that bedroom in the loft,
0:06:59 > 0:07:03you would increase the value to £340,000.
0:07:03 > 0:07:05That's very encouraging.
0:07:05 > 0:07:09The agent also thinks you can get £900 per month for the three-bed
0:07:09 > 0:07:13and £1,100 for the four-bed.
0:07:13 > 0:07:14With those prices,
0:07:14 > 0:07:18taking this house to the top level seems like the thing to do.
0:07:19 > 0:07:21So the slight risk of radon aside,
0:07:21 > 0:07:26this property has so much potential and a few lovely period features.
0:07:26 > 0:07:29Yes, it's dated, it smells of damp, it needs loads of work, but
0:07:29 > 0:07:34you could do this up and turn it into a really nice family home.
0:07:34 > 0:07:37So, who was interested in bidding for this at auction? Let's find out.
0:07:41 > 0:07:42Lot 36.
0:07:42 > 0:07:45Mid-terrace house, which is near Milton Keynes, in Bucks.
0:07:45 > 0:07:48Start me, please, shall we say, at 140?
0:07:48 > 0:07:50£140,000. 140, may I say?
0:07:50 > 0:07:52Thank you, yellow shirt. 140.
0:07:52 > 0:07:5445? 145.
0:07:54 > 0:07:57150, sir, with the yellow shirt, please? 150.
0:07:57 > 0:08:0055? 55, 60...
0:08:00 > 0:08:05This lot soon flew past its £140,000 guide price,
0:08:05 > 0:08:09and we rejoin the bidding at £200,000.
0:08:09 > 0:08:12£200,000, lady in front.
0:08:12 > 0:08:16One? All right, 201. You'll give me 202.
0:08:16 > 0:08:17You won't give me 203, will you?
0:08:17 > 0:08:19- MOUTHS:- No.
0:08:19 > 0:08:21First time at 202.
0:08:21 > 0:08:22Second time at 202.
0:08:23 > 0:08:26Third and final time at £202,000, are we done?
0:08:26 > 0:08:28I think we are.
0:08:28 > 0:08:29You've got it.
0:08:29 > 0:08:34Sadly, our cameras didn't catch the successful bidders Hazel and Steve,
0:08:34 > 0:08:37who bought this lot for 202,000.
0:08:37 > 0:08:41This married couple are former teachers, so I am hoping to learn
0:08:41 > 0:08:42something new today.
0:08:45 > 0:08:47Steve and Hazel, congratulations.
0:08:47 > 0:08:50So, guys, who was it that spotted this in the auction catalogue?
0:08:50 > 0:08:54It was me. I already knew that this was our house.
0:08:54 > 0:08:56When we saw it, it was a bit run down and it needed a lot of work.
0:08:56 > 0:08:58But it's got the character and the features
0:08:58 > 0:09:00that we like in these old places and we love to do
0:09:00 > 0:09:02those sorts of things up, so it'll be perfect.
0:09:02 > 0:09:05I know that you two used to be schoolteachers, so why have
0:09:05 > 0:09:08you decided to give up teaching and go into property full-time?
0:09:08 > 0:09:12Steve got to retirement age and retired.
0:09:12 > 0:09:16And I got really ill.
0:09:16 > 0:09:20I got bitten by a tick and I contracted Lyme disease.
0:09:20 > 0:09:24And it took me four years to get over it.
0:09:24 > 0:09:28And it got to the point where it's affected my memory,
0:09:28 > 0:09:30which isn't that good for teaching.
0:09:30 > 0:09:35We decided that we can be together all the time and do property
0:09:35 > 0:09:37and Steve can look after me.
0:09:37 > 0:09:39Do you know, I'm so sorry to hear that,
0:09:39 > 0:09:42that you can be so ill from a tick.
0:09:42 > 0:09:47They carry lots of diseases and there is a bacterial infection
0:09:47 > 0:09:49that causes Lyme disease.
0:09:50 > 0:09:55And they gave me antibiotics, orally, but that wasn't good enough.
0:09:55 > 0:10:00I actually had to remortgage the house to afford the IV antibiotics,
0:10:00 > 0:10:03so it's a good job that we've done a house before otherwise
0:10:03 > 0:10:05we wouldn't have been able to remortgage.
0:10:05 > 0:10:06So are you quite, you know,
0:10:06 > 0:10:09thankful for your property developing to...?
0:10:09 > 0:10:10You know, obviously,
0:10:10 > 0:10:13it paid for your medicine that you so desperately needed.
0:10:13 > 0:10:16I don't think I'd be alive if we hadn't done
0:10:16 > 0:10:19the properties up previously.
0:10:19 > 0:10:22So, really, you've got a lot to thank for the houses, haven't you?
0:10:22 > 0:10:24Yes, and watching Homes Under The Hammer.
0:10:24 > 0:10:27And how are you feeling now? And how has it been for you both recovering?
0:10:27 > 0:10:31You know, a four-year time span with an illness is a long time.
0:10:31 > 0:10:32She's far better now. Aren't you?
0:10:32 > 0:10:35Now that she's given up the teaching and we're doing this full-time,
0:10:35 > 0:10:37it's far better for her.
0:10:37 > 0:10:40Now, it's gorgeous cos you two actually worked in the same school
0:10:40 > 0:10:42for many years so you could be close together, didn't you?
0:10:42 > 0:10:45- Yes.- And you've both now retired and you've come into something
0:10:45 > 0:10:48that you can still be together. So clearly,
0:10:48 > 0:10:51you're very happy and in love and you want to work together a lot.
0:10:51 > 0:10:52Sometimes.
0:10:52 > 0:10:54It doesn't always work out that way.
0:10:54 > 0:10:56- As long as I do what I'm told, It's fine.- That's it.
0:10:56 > 0:10:58That's the only time we have difficulties,
0:10:58 > 0:11:01- when he doesn't do what he's told. - I just need a long list to follow.
0:11:01 > 0:11:03And it keeps getting longer and longer, usually.
0:11:03 > 0:11:05So you get your long list.
0:11:05 > 0:11:07Do you actually have to do the work and do you just write the list
0:11:07 > 0:11:09and send out the orders?
0:11:09 > 0:11:11I shop for a living, which is perfect.
0:11:11 > 0:11:14I quite like doing some of the work, like the carpentry,
0:11:14 > 0:11:17some of the plumbing, a bit of demolition, labouring,
0:11:17 > 0:11:20but the technical stuff we leave to the professionals.
0:11:20 > 0:11:23I mean, this house really does need a lot of work.
0:11:23 > 0:11:25Are you prepared for that?
0:11:25 > 0:11:27We're going to have a good look at it and get professionals in to
0:11:27 > 0:11:30tell us what might need doing and what we can get away with
0:11:30 > 0:11:33keeping, but if we need to take it back to bricks, we will do that.
0:11:33 > 0:11:36I think the extension out the back, the old scullery, that needs to go
0:11:36 > 0:11:37because it's not really salvageable.
0:11:37 > 0:11:39We'll put a different extension on that.
0:11:39 > 0:11:42Otherwise, we'll do whatever is required to bring it back to life.
0:11:42 > 0:11:43We want the old features back.
0:11:43 > 0:11:46We want to make it a four-bed family house. It's a big house,
0:11:46 > 0:11:49there's plenty of room for four bedrooms.
0:11:49 > 0:11:51But it's just a case of the configuration
0:11:51 > 0:11:54we haven't quite worked out yet.
0:11:54 > 0:11:57Hazel and Steve are going to tackle the damp first and then
0:11:57 > 0:12:00think about that fourth bedroom, but I think they'll definitely
0:12:00 > 0:12:03need to go back to brick regardless of the layout.
0:12:05 > 0:12:07One less issue to worry about is the radon,
0:12:07 > 0:12:10as they've done the test and it's come back with the results that it
0:12:10 > 0:12:13is perfectly safe for someone to live here.
0:12:13 > 0:12:16Speaking of which...
0:12:16 > 0:12:19We're going to do it up the way we'd like it to be done,
0:12:19 > 0:12:20restore all the original features,
0:12:20 > 0:12:23and then live here for as long as we really feel like.
0:12:23 > 0:12:26So, what sort of money are you going to be spending on this house?
0:12:26 > 0:12:28What is your budget?
0:12:28 > 0:12:31Well, if we do the extension out the back and we're thinking
0:12:31 > 0:12:35about a loft conversion, so we're thinking probably about £50,000.
0:12:35 > 0:12:38- Oh, that could be a little bit tight.- It could be.
0:12:38 > 0:12:42If we do some of the work ourselves, we'll save money that way.
0:12:42 > 0:12:44How long do you intend it taking?
0:12:44 > 0:12:48Well, we've set ourselves six months.
0:12:48 > 0:12:50What are you most looking forward to?
0:12:50 > 0:12:53Most looking forward to that time where I can open the front
0:12:53 > 0:12:55door and think, "I'm home!"
0:12:55 > 0:12:56And there's no jobs.
0:12:58 > 0:13:00Oh, that's a long way ahead of you yet!
0:13:00 > 0:13:03I'm really, really excited to see that outcome.
0:13:03 > 0:13:06- Hazel, congratulations, well done. - Thank you.- Steve, thank you.
0:13:06 > 0:13:07Thank you.
0:13:08 > 0:13:10Well, a change of career due to illness
0:13:10 > 0:13:14has been rather forced on Hazel, but Hazel and Steve have done up
0:13:14 > 0:13:16property before and they do enjoy the work.
0:13:16 > 0:13:19This time round, they won't have to juggle the renovations around
0:13:19 > 0:13:23their day jobs, so how will they get on with fixing the damp,
0:13:23 > 0:13:26extending the property and bringing this back to life?
0:13:26 > 0:13:29You can find out later on in the programme.
0:13:32 > 0:13:34Now, are you sitting comfortably?
0:13:34 > 0:13:38Well, get a pen and paper because this isn't going to be easy.
0:13:38 > 0:13:42We've been visiting the hamlet of Preston on the Hill,
0:13:42 > 0:13:44in the beautiful Cheshire countryside,
0:13:44 > 0:13:47since - wait for it - 2004.
0:13:48 > 0:13:52I spotted what seemed like a bargain lot, even if it was
0:13:52 > 0:13:54next to a busy road.
0:13:54 > 0:13:58It all pales into insignificance when you see what is up for auction.
0:13:58 > 0:14:02For a guide price of £120,000,
0:14:02 > 0:14:05this old church could be yours.
0:14:05 > 0:14:07'Not changed a bit, have I, really(?)
0:14:07 > 0:14:08HE CLEARS HIS THROAT
0:14:08 > 0:14:11'And neither had the lovely mission building,
0:14:11 > 0:14:14'considering it was built in 1887.'
0:14:14 > 0:14:17This is what you get for your money.
0:14:17 > 0:14:19It's primarily this one big room.
0:14:19 > 0:14:21But what a space.
0:14:21 > 0:14:23Fantastic old windows.
0:14:23 > 0:14:24The roof supports.
0:14:24 > 0:14:26Original oak flooring.
0:14:26 > 0:14:29Imagine what somebody with a bit of imagination and building
0:14:29 > 0:14:32skills could do with a place like this.
0:14:35 > 0:14:38Building skills would definitely be important and it certainly
0:14:38 > 0:14:40wasn't a job for an amateur.
0:14:46 > 0:14:48Yeah, it's always quite sad when a place like this comes up for
0:14:48 > 0:14:50auction. It was originally the church hall.
0:14:50 > 0:14:53You can almost imagine the members of the WI sitting round,
0:14:53 > 0:14:54singing Jerusalem.
0:14:54 > 0:14:57However, I suppose it's better that it does go to auction and
0:14:57 > 0:15:00somebody buys it and it doesn't just fall into disrepair.
0:15:00 > 0:15:03And, hopefully, it will become part of the community once again.
0:15:03 > 0:15:07MUSIC: Jerusalem
0:15:15 > 0:15:20Three years before I visited it in 2004, the property was deemed
0:15:20 > 0:15:24to be dangerous after a large crack appeared in the sidewall.
0:15:24 > 0:15:27Services were suspended and planning permission was sought for
0:15:27 > 0:15:30conversion into a four-bedroomed house.
0:15:30 > 0:15:33This was to try and make it more appealing at the auction,
0:15:33 > 0:15:37where the property was guided at £120,000.
0:15:39 > 0:15:43So, what an opportunity for somebody with a bit of imagination,
0:15:43 > 0:15:45this place is. Perfect auction material.
0:15:45 > 0:15:49And it certainly exceeded all expectations when the hammer
0:15:49 > 0:15:50finally fell.
0:15:50 > 0:15:53At 272,500, I'm selling them. Once, twice.
0:15:53 > 0:15:57The third and final time at 272,500.
0:15:57 > 0:16:00Yours, sir, well done.
0:16:00 > 0:16:03The new owner, Ed, was no stranger to the auction room,
0:16:03 > 0:16:05and he certainly was a man on a mission
0:16:05 > 0:16:09with his £272,500 bid.
0:16:09 > 0:16:11- Ed, congratulations. - Thank you very much.
0:16:11 > 0:16:13You're the owner of this wonderful old church.
0:16:13 > 0:16:15Yeah, it's brilliant, isn't it?
0:16:15 > 0:16:18- What was it that struck you about it?- Oh, all sorts of things.
0:16:18 > 0:16:19You know, the location of course.
0:16:19 > 0:16:21The character.
0:16:21 > 0:16:24A wonderful opportunity. I've got to develop it, you know.
0:16:24 > 0:16:27- Tell me a bit about you, then. - Well, I'm in the construction
0:16:27 > 0:16:30business myself. I have a national roofing company.
0:16:30 > 0:16:32And I also have a development company.
0:16:32 > 0:16:34And we noticed there's a big shortage
0:16:34 > 0:16:37- of prestige houses in the area. - Let's come on to the building.- Yes.
0:16:37 > 0:16:39What are you going to do with it?
0:16:39 > 0:16:41Well, first of all, I'm going to leave, you know,
0:16:41 > 0:16:42my options open here.
0:16:42 > 0:16:45We already have permission for a four-bedroom detached house.
0:16:45 > 0:16:48I've been speaking to the planners and there's options perhaps
0:16:48 > 0:16:51available of converting it into apartments,
0:16:51 > 0:16:54maybe even three dwellings, possibly even four.
0:16:54 > 0:16:55So we've got to explore that avenue.
0:16:55 > 0:16:58So, do you have any idea of budgets for this project?
0:16:58 > 0:17:02Well, a fair scale, we reckon about £140,000 to spend on it.
0:17:02 > 0:17:04The roof is in superb condition.
0:17:04 > 0:17:06There's only one structural crack I have to worry about,
0:17:06 > 0:17:09which I knew about beforehand.
0:17:09 > 0:17:11Super floors that we're going to possibly keep.
0:17:11 > 0:17:15So the budget is coming down now as we're getting into it.
0:17:15 > 0:17:20- So what about timescales?- Six to 12 months is a realistic timescale.
0:17:20 > 0:17:23So, if we come back in a few, we'll be seeing some changes?
0:17:23 > 0:17:25I hope so. Well, in a few months,
0:17:25 > 0:17:27you may see some sort of clearing up.
0:17:27 > 0:17:32Well, we first returned nine months later and little had changed,
0:17:32 > 0:17:35except Ed was pursuing the four-apartment option,
0:17:35 > 0:17:38partly because of the dip in the housing market at the time.
0:17:38 > 0:17:40He felt he'd get a better chance of getting
0:17:40 > 0:17:43a quick return on his investment with the apartments.
0:17:43 > 0:17:46But planning was proving problematic.
0:17:46 > 0:17:48The mission was a Grade II listed building.
0:17:48 > 0:17:51And when we filmed for the second time,
0:17:51 > 0:17:54Ed had received some bad news from the planners.
0:17:58 > 0:18:00We've had the results back and
0:18:00 > 0:18:02they're not very happy with
0:18:02 > 0:18:03us going forward on that suggestion.
0:18:03 > 0:18:05So we're back to the original plan -
0:18:05 > 0:18:09converting the whole thing into one large, detached dwelling.
0:18:09 > 0:18:12Ed's only planning option seemed to be to build
0:18:12 > 0:18:16a prestige house in the times of a falling property market,
0:18:16 > 0:18:21and his planning woes looked like they were going to continue.
0:18:21 > 0:18:24Large trees close to the building run the risk of drying out
0:18:24 > 0:18:28the soil, which could in turn cause cracking and even subsidence.
0:18:28 > 0:18:32However, just chopping them down wasn't going to be straightforward.
0:18:34 > 0:18:37One of the issues we've had is that the premises is surrounded by
0:18:37 > 0:18:41trees that have got TPOs on - Tree Preservation Orders.
0:18:41 > 0:18:43And that has actually shielded it.
0:18:43 > 0:18:46It probably has protected it over the years as well.
0:18:46 > 0:18:48But to get the true beauty out of the building,
0:18:48 > 0:18:51I want to take some of these trees down.
0:18:51 > 0:18:54And one in particular, this one here close to the road,
0:18:54 > 0:18:57is stopping a lot of daylight going into the building.
0:18:58 > 0:19:03I'm going to put an application in to see if it can be removed.
0:19:03 > 0:19:07Ed's optimistic six- to 12-month timescale was now clearly
0:19:07 > 0:19:08impossible.
0:19:13 > 0:19:15Well, we returned again for our third filming session,
0:19:15 > 0:19:18this time eight-and-a-half years later,
0:19:18 > 0:19:22to find out if Ed had taken on a mission impossible.
0:19:24 > 0:19:27By now, it was March 2013.
0:19:27 > 0:19:29Surrounding shrubs had been removed
0:19:29 > 0:19:30and the trees cut back.
0:19:30 > 0:19:34But at the back of the mission, there were telltale signs
0:19:34 > 0:19:38revealing that the work was some way from completion.
0:19:38 > 0:19:40So before we went inside,
0:19:40 > 0:19:44Ed brought us up-to-date with this epic saga.
0:19:45 > 0:19:47With a lot of patience and perseverance,
0:19:47 > 0:19:50we've actually managed to get four dwellings out of it now,
0:19:50 > 0:19:55which we wanted to originally, but it took a long time.
0:19:55 > 0:19:57And the way the economy has gone,
0:19:57 > 0:19:59it's probably been the right thing to do.
0:19:59 > 0:20:01Building a £500,000,
0:20:01 > 0:20:03£600,000 house
0:20:03 > 0:20:07at the time was just about a little over ambitious.
0:20:07 > 0:20:12So we've managed to gut the mission and we've started the construction.
0:20:12 > 0:20:15Ed had returned to his initial concept of dividing up the
0:20:15 > 0:20:18mission into more than one dwelling,
0:20:18 > 0:20:21the original chapel entrance being the front door to the
0:20:21 > 0:20:22first completed house.
0:20:22 > 0:20:25The large open-plan kitchen/living room
0:20:25 > 0:20:29took natural light from the bottom of the mission's side window.
0:20:29 > 0:20:33The huge front window made for very light stairs and landing.
0:20:33 > 0:20:35The top section of the same window,
0:20:35 > 0:20:38illuminating the main bedroom on the first floor.
0:20:39 > 0:20:41Being directly above the kitchen,
0:20:41 > 0:20:45additional light came from the top of the side window.
0:20:45 > 0:20:48Also on the first floor was a stylish family bathroom and
0:20:48 > 0:20:50small bedroom.
0:20:54 > 0:20:58On the second floor, bedroom three had the added value
0:20:58 > 0:21:01of the original character wooden beams.
0:21:01 > 0:21:04Lighting up here was from new roof windows.
0:21:04 > 0:21:08The overall design made for a modern and contemporary style with
0:21:08 > 0:21:10preserved original features.
0:21:12 > 0:21:15It was really important to me to maintain the character
0:21:15 > 0:21:16of the building.
0:21:16 > 0:21:20I fell in love with this the minute I see it, like a lot of people did,
0:21:20 > 0:21:23and I really wanted to put my mark on it.
0:21:23 > 0:21:26Eventually, when completed, there will be four dwellings,
0:21:26 > 0:21:30each with their own street-level access and garden area.
0:21:30 > 0:21:33The layout would be individual to each house, with the end
0:21:33 > 0:21:37property enjoying cellar rooms and a veranda overlooking the open fields.
0:21:40 > 0:21:43But getting the right design to make the most of the building's
0:21:43 > 0:21:47features and space wasn't as easy as it first appeared.
0:21:47 > 0:21:49We knew the houses were always going to be
0:21:49 > 0:21:53a contemporary type living. But literally, despite the size
0:21:53 > 0:21:56of the church, there wasn't that much footage in it.
0:21:56 > 0:22:00So we've designed it in a way to maximise the actual height of
0:22:00 > 0:22:05the church by lowering the floors and going right into the roof space.
0:22:05 > 0:22:08A loft space is planned for each of the new dwellings,
0:22:08 > 0:22:11taking advantage of every available square inch.
0:22:13 > 0:22:16Lowering the floors meant the removal of the original parquet
0:22:16 > 0:22:19flooring Ed had been so keen to keep.
0:22:21 > 0:22:25Considering the eight-year struggle waiting for the housing
0:22:25 > 0:22:27market recovery, it was a small price to pay.
0:22:30 > 0:22:33Well, all but recently, it's been a real roller coaster and been very
0:22:33 > 0:22:37difficult for us construction workers and developers.
0:22:37 > 0:22:40The economy has been horrendous, but being an experienced developer,
0:22:40 > 0:22:45we carefully and patiently decided to hold off this particular
0:22:45 > 0:22:46development till the time was right.
0:22:46 > 0:22:52But Ed had judged that the first quarter of 2013 was the right
0:22:52 > 0:22:54time to start again with this development.
0:22:54 > 0:22:58# Almost there
0:22:58 > 0:23:03# We are almost there. #
0:23:04 > 0:23:09Even back in 2013, this had become one of the longest refurbishment
0:23:09 > 0:23:13projects we've ever covered here on Homes Under The Hammer.
0:23:14 > 0:23:17But like Ed, we persevered.
0:23:17 > 0:23:21You can find out if he finally finished his mission on the
0:23:21 > 0:23:24mission and if the value of his four dwellings will leave him with
0:23:24 > 0:23:29profit or not when we return a further three years later.
0:23:32 > 0:23:36Coming up... I really like this South London house,
0:23:36 > 0:23:39but I wouldn't say it was love at first sight.
0:23:39 > 0:23:42I'm not sure whether I love this room as much as that little
0:23:42 > 0:23:43heart does.
0:23:45 > 0:23:50And nearly 12 years on, has Ed got what he hoped for?
0:23:50 > 0:23:52This particular one I am very proud of.
0:23:57 > 0:24:02Earlier in the show, I met Hazel and Steve, a couple who paid £202,000
0:24:02 > 0:24:05for this three-bed mid-terrace in Stony Stratford,
0:24:05 > 0:24:07near Milton Keynes.
0:24:07 > 0:24:10These former teachers had dabbled in property
0:24:10 > 0:24:14but decided to do it full-time after Hazel became ill with Lyme
0:24:14 > 0:24:17disease, a tick-borne condition.
0:24:18 > 0:24:21At this property, they planned to extend out the back and into
0:24:21 > 0:24:24the loft while living in the house during the renovation.
0:24:26 > 0:24:29We want to make it a four-bed family house. It's a big house,
0:24:29 > 0:24:31there's plenty of room for four bedrooms.
0:24:31 > 0:24:35- What are you most looking forward to?- I'm most looking forward to
0:24:35 > 0:24:38that time where I can open the front door and think, "I'm home!"
0:24:38 > 0:24:40And there's no jobs.
0:24:40 > 0:24:43Oh, that's a long way ahead of you yet!
0:24:48 > 0:24:52Well, it's been a long road, but eight months on, we're back.
0:24:52 > 0:24:55It's time to see what the couple's 50 grand budget
0:24:55 > 0:24:57has done for this tired terrace.
0:24:57 > 0:24:59And has it given them a home to live in
0:24:59 > 0:25:01before they sell on?
0:25:03 > 0:25:08# Gave me something that I didn't have before
0:25:08 > 0:25:13# Gave me something I didn't have before. #
0:25:13 > 0:25:16Well, they've given this place everything.
0:25:16 > 0:25:19Knocking through the living room wall has given the house
0:25:19 > 0:25:20an open-plan feel,
0:25:20 > 0:25:23and they've managed to add stylish decor and enhance
0:25:23 > 0:25:25the original features.
0:25:25 > 0:25:26Further through the house,
0:25:26 > 0:25:30they've given it what it really needed - an extension.
0:25:30 > 0:25:33So goodbye to the cramped kitchen...
0:25:33 > 0:25:36and hello, light, bright and modern space.
0:25:39 > 0:25:41And take a leaf out of Hazel
0:25:41 > 0:25:43and Steve's book of property development.
0:25:43 > 0:25:47With extra space from the extension, they've added a library.
0:25:50 > 0:25:54Well, initially, we were just going to convert what was already there,
0:25:54 > 0:25:56but it wasn't really feasible,
0:25:56 > 0:26:02so we got permission to demolish the old kitchen and outhouses and
0:26:02 > 0:26:05then we basically replaced it with something that was very
0:26:05 > 0:26:07similar to the old, but bigger,
0:26:07 > 0:26:10much bigger and more useful with a nice open aspect into the garden.
0:26:10 > 0:26:13So it's a really nice space and we are really pleased with it.
0:26:13 > 0:26:17Upstairs, on the first floor, there are three beautiful rooms.
0:26:17 > 0:26:21And you just can't believe it's the same house, can you?
0:26:21 > 0:26:23Although, it's not quite the same.
0:26:25 > 0:26:27The stylish new bathroom is smaller than the old one,
0:26:27 > 0:26:31as they stole some space from the new fourth bedroom in the loft
0:26:31 > 0:26:33which comes with an en suite.
0:26:38 > 0:26:43With the loft, it was a case of wanting to get a fourth bedroom.
0:26:43 > 0:26:46Originally, it was a four-bedroom house.
0:26:46 > 0:26:50But in the 1930s, they put a bathroom in one of the bedrooms.
0:26:50 > 0:26:53Somebody came and did the staircase
0:26:53 > 0:26:55and...the roof.
0:26:55 > 0:26:59Steve plasterboarded it and insulated it.
0:26:59 > 0:27:01We had it plastered, I painted it.
0:27:01 > 0:27:03It was a lot of work we did ourselves.
0:27:03 > 0:27:05We got the basics done by the builders and
0:27:05 > 0:27:06we did all the finishing ourselves.
0:27:06 > 0:27:10We had to take 76 plasterboards up there, two flights of stairs.
0:27:10 > 0:27:12We got some help with that, but it was hard work,
0:27:12 > 0:27:15once it was up there, fitting it. And so everything took a long time.
0:27:15 > 0:27:18But we got the finish we wanted by doing it ourselves, really.
0:27:18 > 0:27:23And it does keep prices down as well being able to take advantage
0:27:23 > 0:27:27of somebody that can do the carcassing and we do the fixing.
0:27:30 > 0:27:33The price is still higher than they'd hoped for this spectacular
0:27:33 > 0:27:36finish - 75,000 in total,
0:27:36 > 0:27:41now, that's 50% over their 50 grand budget - and took longer due to
0:27:41 > 0:27:43some tragic events.
0:27:44 > 0:27:47We said initially it'd take us six months.
0:27:47 > 0:27:50It's taken us about eight months overall.
0:27:50 > 0:27:53We started off doing really well and then we went away on holiday.
0:27:53 > 0:27:55And then we got back from there,
0:27:55 > 0:27:58and my mum was diagnosed with
0:27:58 > 0:28:02a terminal illness and I just
0:28:02 > 0:28:04stopped all work at that point.
0:28:04 > 0:28:07I moved in with Mum and spent
0:28:07 > 0:28:09some good times with her.
0:28:09 > 0:28:10And...
0:28:12 > 0:28:13..she died.
0:28:14 > 0:28:17And it took me another month or so to get back into it.
0:28:17 > 0:28:21So I probably lost about four months.
0:28:21 > 0:28:25But Steve was here, soldiering on.
0:28:25 > 0:28:28- But, yeah, I think we are quite pleased.- Yeah.
0:28:28 > 0:28:32Considering the amount of work we've had to do,
0:28:32 > 0:28:34we've done really well.
0:28:34 > 0:28:36Really happy.
0:28:36 > 0:28:40It's clearly been a difficult time for Hazel since the loss of
0:28:40 > 0:28:45her mum, Diane, who herself was a keen DIYer and so very proud
0:28:45 > 0:28:48that Hazel and Steve were appearing on Homes Under The Hammer.
0:28:48 > 0:28:52I'm sure she would have been equally proud of the fantastic job
0:28:52 > 0:28:53they've done here.
0:28:53 > 0:28:55How did they find working as a team?
0:28:55 > 0:28:57Overall, we worked really well together.
0:28:57 > 0:28:59Though, we do have arguments, obviously.
0:28:59 > 0:29:03- Well, I have a difference of opinion and I'm told I'm wrong.- That's it.
0:29:03 > 0:29:06We actually love being together all the time anyway, so...
0:29:08 > 0:29:11- Yep.- I'd be surprised... THEY LAUGH
0:29:11 > 0:29:13- I'm supposed to say yes. - SHE LAUGHS
0:29:16 > 0:29:19Ah, now that's marital bliss for you, eh?
0:29:19 > 0:29:22Time to ask a couple of local estate agents what they think
0:29:22 > 0:29:24of the property. Let's start
0:29:24 > 0:29:27with the agent who saw it before the renovation.
0:29:28 > 0:29:30Having had a look round the property,
0:29:30 > 0:29:32the changes are absolutely superb.
0:29:32 > 0:29:36Full credit to the vendors, it's amazing what they've achieved
0:29:36 > 0:29:40with the extensions, by going into the loft space,
0:29:40 > 0:29:42retaining a lot of character.
0:29:42 > 0:29:44It really is a wonderful transformation.
0:29:44 > 0:29:46I think the property is
0:29:46 > 0:29:47absolutely fantastic.
0:29:47 > 0:29:50The work that's been done in here is of a really high standard.
0:29:50 > 0:29:53It's decorated brilliantly throughout.
0:29:53 > 0:29:57It's quite plain and neutral, which appeals to a lot of buyers.
0:29:58 > 0:30:03Hazel and Steve's total spend is 277,000,
0:30:03 > 0:30:06so can they make a profit on the resale market?
0:30:08 > 0:30:11I believe this property could sell for anywhere
0:30:11 > 0:30:14between £400,000 and £425,000.
0:30:14 > 0:30:18I would say this property would sell
0:30:18 > 0:30:21for £450,000.
0:30:21 > 0:30:25Perhaps the asking price can be pitched slightly higher,
0:30:25 > 0:30:29£475,000, and just see what the market returns.
0:30:29 > 0:30:33Amazed! I can't believe it's so much.
0:30:33 > 0:30:36- That's fantastic.- And all I can say is... I told you so!
0:30:36 > 0:30:38THEY LAUGH
0:30:40 > 0:30:43Taking that figure of 450,000 would mean
0:30:43 > 0:30:48a very handsome pre-tax profit of 173,000.
0:30:48 > 0:30:51I'm really pleased for them that everything has worked out
0:30:51 > 0:30:54so well after all the tough times they have gone through and with
0:30:54 > 0:30:56that great finish.
0:30:56 > 0:30:59I hope we'll be seeing them at the auction room sometime soon.
0:31:01 > 0:31:05Yes, we would buy at auction again. We've done it a couple of times now.
0:31:05 > 0:31:09- The adrenaline rush.- Who's turn is it to bid next time?- Yours.- OK.
0:31:11 > 0:31:13She always says that, but I never get to do it.
0:31:13 > 0:31:16THEY LAUGH
0:31:19 > 0:31:23Over now to South London, and Streatham, to be precise,
0:31:23 > 0:31:27a name that comes from its origins as a hamlet on the street.
0:31:28 > 0:31:32Wait a minute! Doesn't that mean it should be called Hamstreet?
0:31:32 > 0:31:36Anyway, today, it is less than a hamlet, more of a London suburb.
0:31:38 > 0:31:41Well, this is a residential area, but Streatham Common Station is
0:31:41 > 0:31:45only a ten-minute walk away, so it is still fairly accessible.
0:31:45 > 0:31:48Now, I'm here to see this three-bed end-of-terrace.
0:31:48 > 0:31:51It had a guide price of £350,000 plus.
0:31:51 > 0:31:55Now, being end-of-terrace is always popular as you only ever have
0:31:55 > 0:31:57neighbours on one side.
0:31:57 > 0:31:59So not a bad start so far.
0:31:59 > 0:32:03One thing I'm not sure about is that stone facing.
0:32:03 > 0:32:06I think I'd change that and up its curb appeal.
0:32:06 > 0:32:09Well, into the hallway. Lots of lovely storage space.
0:32:09 > 0:32:11And a fridge!
0:32:11 > 0:32:13Of course, only on this programme.
0:32:13 > 0:32:16But you have got a larger-than-average space here.
0:32:16 > 0:32:20Lovely, big, chunky stairs that lead up there, which is great.
0:32:20 > 0:32:23Lovely sized lounge as well. Not sure about the colours in there.
0:32:23 > 0:32:27Lime green and red, don't know whether they go. But a big room.
0:32:27 > 0:32:29And a larger-than-average kitchen,
0:32:29 > 0:32:32which is good because I was just about to talk about knocking
0:32:32 > 0:32:35a wall down, but in this case, I don't think you need to.
0:32:35 > 0:32:37In here, you've got a loo, so that's a real bonus.
0:32:37 > 0:32:40And through into a second reception room,
0:32:40 > 0:32:42which you could keep that wall there.
0:32:42 > 0:32:46You only need to walk through to put a nice dining table here.
0:32:46 > 0:32:49I'm not sure whether I love this room as much as that little
0:32:49 > 0:32:52heart does, because, look, there's still loads of work to do.
0:32:52 > 0:32:54You've got, like, a tongue-and-groove chimney breast
0:32:54 > 0:32:56here, an old gas fire.
0:32:56 > 0:32:59The flooring needs sorting. It does need to be updated.
0:32:59 > 0:33:02But a lot of potential with this property
0:33:02 > 0:33:04and quite a nice little garden to look out onto as well.
0:33:07 > 0:33:08Look at this.
0:33:08 > 0:33:10I might be getting a little ahead of myself,
0:33:10 > 0:33:13but would you go as far as calling this a walled garden?
0:33:13 > 0:33:16I mean, look, you've got little pink roses sprouting out on the
0:33:16 > 0:33:19back wall. This is a great space for London.
0:33:19 > 0:33:21Needs a bit of a lawnmower to go over it.
0:33:21 > 0:33:23And another big, big bonus -
0:33:23 > 0:33:27you've got independent access down this covered little walkway
0:33:27 > 0:33:30here, which is fantastic because it means,
0:33:30 > 0:33:33once renovating the building, you don't have to bring all the
0:33:33 > 0:33:35tools and everything through the front door, you can use that.
0:33:35 > 0:33:38It's also attached to a single-skinned,
0:33:38 > 0:33:40little brick-built sort of shed here.
0:33:40 > 0:33:42So fantastic for storage.
0:33:42 > 0:33:44So a real bonus for this property.
0:33:44 > 0:33:48You might want to rethink the kitchen layout so you don't have the
0:33:48 > 0:33:53fridge in the hall, but other than that, these room sizes are OK.
0:33:53 > 0:33:56And in this case, I like having a second reception room.
0:33:56 > 0:33:58If you've got teenagers who take over the telly, really,
0:33:58 > 0:34:00it can be a blessing.
0:34:00 > 0:34:04As for outdoors, well, in London, let me tell you,
0:34:04 > 0:34:06it's almost as good as it gets.
0:34:06 > 0:34:10So I think this is potentially a gem waiting to be polished and
0:34:10 > 0:34:11made to shine.
0:34:11 > 0:34:14But upstairs, there are some things I'm finding, well,
0:34:14 > 0:34:16slightly disorientating.
0:34:18 > 0:34:21In one of the bedrooms here, I'm not quite sure what's going on
0:34:21 > 0:34:25because this window here has been put in...upside down?
0:34:25 > 0:34:26I don't know why.
0:34:26 > 0:34:28And in the corner over here,
0:34:28 > 0:34:31there is a plug socket right on the floor there,
0:34:31 > 0:34:33been put in...upside down?
0:34:33 > 0:34:35It's all a little bit topsy-turvy in this room.
0:34:35 > 0:34:38- # Ain't got no cares - Ain't got no cares
0:34:38 > 0:34:41- # I ain't got no rules - Ain't got no rules
0:34:41 > 0:34:43- # I think I like - I like
0:34:43 > 0:34:46- # Living upside down - # Living upside down. #
0:34:46 > 0:34:48Well, I'm glad to say the other two bedrooms,
0:34:48 > 0:34:52and particularly the bathroom, seem to be in the right orientation,
0:34:52 > 0:34:56but I don't know whether it's all this upside-down action that
0:34:56 > 0:34:58makes the blood rush my head,
0:34:58 > 0:35:02but I've suddenly seen another way of looking at this property.
0:35:02 > 0:35:07Rather than renovate as one home, could you split it into two flats?
0:35:07 > 0:35:11Now, I know flats are in high demand around here and other
0:35:11 > 0:35:14conversions have been done in this area, so I think it might
0:35:14 > 0:35:17just work, subject to planning permission, of course.
0:35:17 > 0:35:19Yes, it would cost more money to do,
0:35:19 > 0:35:23probably double your budget compared to converting this as one
0:35:23 > 0:35:25property, but if you are in it for the profit, well,
0:35:25 > 0:35:28that would be greater too.
0:35:28 > 0:35:30Hm, that is food for thought.
0:35:30 > 0:35:33Yes, something to think about all right.
0:35:33 > 0:35:36And there are real pros and cons to dividing this house up,
0:35:36 > 0:35:38so it's not really an easy call to make.
0:35:38 > 0:35:41# A very fine line.
0:35:41 > 0:35:44# Split decision It's a fine line. #
0:35:44 > 0:35:48But what does a local property agent think?
0:35:48 > 0:35:50Would it be the right decision
0:35:50 > 0:35:52to go the two-flats route?
0:35:52 > 0:35:57I think splitting the property into two flats could be an option,
0:35:57 > 0:35:59but to be honest with you, I think if you're looking for
0:35:59 > 0:36:02something to just make some money on,
0:36:02 > 0:36:05then I would just refurb the property and sell it on,
0:36:05 > 0:36:08cos you'd get a good return on it as it is.
0:36:08 > 0:36:12OK, but this house was guided at £350,000 plus,
0:36:12 > 0:36:17so what kind of return could this property give if fully refurbished?
0:36:17 > 0:36:20I believe the house could sell for 460,000
0:36:20 > 0:36:22to 475,000.
0:36:22 > 0:36:26I believe you could achieve a rent o £1,500 per calendar month.
0:36:26 > 0:36:30And if split into two flats, what kind of return would you get then?
0:36:33 > 0:36:36I believe each flat could sell for £325,000 each.
0:36:36 > 0:36:40And if each flat was to be rented, I believe they could
0:36:40 > 0:36:44achieve rental figures of £1,250 to £1,300 a month, excluding bills.
0:36:44 > 0:36:47So, splitting into two flats would definitely be
0:36:47 > 0:36:49a more lucrative route.
0:36:51 > 0:36:54Yes, I think you'll agree, it needs modernisation,
0:36:54 > 0:36:57some new windows - oh, and don't forget - those plug sockets.
0:36:57 > 0:36:59But there could be money to be made from this auction lot,
0:36:59 > 0:37:03whether that be as one house or maybe even flats.
0:37:03 > 0:37:06Who agreed? Well, let's head to auction and find out.
0:37:10 > 0:37:14Lot 30 is a good-sized, three-bed mid-terraced house.
0:37:14 > 0:37:16Handy location. 330 anywhere?
0:37:16 > 0:37:18330.
0:37:18 > 0:37:19335?
0:37:19 > 0:37:22335. 340.
0:37:23 > 0:37:26345? Yes or no? Yeah?
0:37:26 > 0:37:29345. 350.
0:37:29 > 0:37:31355?
0:37:31 > 0:37:33355.
0:37:33 > 0:37:35360? 360.
0:37:35 > 0:37:38365? Yep? 365.
0:37:38 > 0:37:41370? 370.
0:37:41 > 0:37:44375?
0:37:44 > 0:37:45375.
0:37:45 > 0:37:47380? 380.
0:37:47 > 0:37:49Back in. 385?
0:37:51 > 0:37:54385. 390?
0:37:54 > 0:37:57Struggling. At 385 with you.
0:37:57 > 0:37:59390 elsewhere?
0:37:59 > 0:38:03If not, 385, with you, first time.
0:38:03 > 0:38:05Second time.
0:38:05 > 0:38:07Third and last time.
0:38:07 > 0:38:09Sold 385.
0:38:10 > 0:38:14So the hammer fell at £385,000.
0:38:14 > 0:38:16The successful bid was made by Thomas,
0:38:16 > 0:38:19who was at the auction with one of his sons, Crawford.
0:38:19 > 0:38:22This house was bought as a family project for him and his brother,
0:38:22 > 0:38:24Will.
0:38:27 > 0:38:30I met the brothers back at the property.
0:38:34 > 0:38:37Will and Crawford, lovely to meet you both. Congratulations.
0:38:37 > 0:38:39- Lovely to meet you. - This is a great property, isn't it?
0:38:39 > 0:38:42Yeah, we are really, really happy with it and we almost bought
0:38:42 > 0:38:45the other one at auction that wasn't half as good as this one,
0:38:45 > 0:38:48so we felt like actually it was worth holding back
0:38:48 > 0:38:50and pushing ourselves for this one.
0:38:50 > 0:38:51So on auction day, did you have
0:38:51 > 0:38:54- a few that you were thinking about bidding on?- Yeah,
0:38:54 > 0:38:57cos we went to auction a month before and we only had two
0:38:57 > 0:38:59properties that we were gunning for,
0:38:59 > 0:39:01and then they both went for silly money,
0:39:01 > 0:39:03so we walked away with nothing.
0:39:03 > 0:39:06So the second auction, we really made an effort to make sure that we
0:39:06 > 0:39:10had five or six, like, potentials, and this was our second on the list.
0:39:10 > 0:39:13And you weren't there on auction day, were you, Will?
0:39:13 > 0:39:15No, I had to hold down the fort, so to speak.
0:39:15 > 0:39:17So someone has to work, and that was me.
0:39:17 > 0:39:19I got that short straw.
0:39:19 > 0:39:21So, tell me what you both do.
0:39:21 > 0:39:22We work our family business,
0:39:22 > 0:39:24a plumbing and heating company that we both run.
0:39:24 > 0:39:27Aha! That's perfect.
0:39:27 > 0:39:30This family firm was originally set up by their dad and they see
0:39:30 > 0:39:33the move into property development as a natural progression.
0:39:33 > 0:39:38They've already got a few properties to their name, which they rent out.
0:39:38 > 0:39:41They're hoping this will be a resale project.
0:39:41 > 0:39:45And it sounds very much like we have been seeing the same potential here.
0:39:45 > 0:39:47Well, the big thing, cos it's end-of-terrace,
0:39:47 > 0:39:49we are looking into the option of splitting it...
0:39:49 > 0:39:52Obviously, it's a single dwelling house at the moment,
0:39:52 > 0:39:55we are looking at seeing if we can split it into two two-bedroom flats.
0:39:55 > 0:39:58What plans have you got to do that? How would you get that extra space?
0:39:58 > 0:40:00We're planning to develop the loft, obviously,
0:40:00 > 0:40:03and we're potentially looking at extending the back as well.
0:40:03 > 0:40:06And, obviously, with the side anyway there,
0:40:06 > 0:40:09we can actually maybe make a second entrance to the flat there.
0:40:09 > 0:40:12So they are the options we are kind of looking at, at the moment.
0:40:12 > 0:40:16Plan A is to divide it into two flats. Your plan B will be?
0:40:16 > 0:40:18The family home, if worse comes to worse.
0:40:18 > 0:40:22But that's not a bad option either, nice-sized property for it.
0:40:22 > 0:40:23We can add to it, extend it as well.
0:40:23 > 0:40:26What sort of budget have you got for the work here, Crawford?
0:40:26 > 0:40:29I think if we are just redeveloping the house on its own,
0:40:29 > 0:40:33we'll probably spend somewhere around 20,000.
0:40:33 > 0:40:36And if we're splitting it, I'd say somewhere between 30 and 40.
0:40:36 > 0:40:39Hm, so still relatively low.
0:40:39 > 0:40:41I suppose taking into account the amount of work you're going
0:40:41 > 0:40:43to put in yourselves.
0:40:43 > 0:40:46So as brothers, how does that work for you both?
0:40:46 > 0:40:48- THEY LAUGH - It works.- It works.
0:40:48 > 0:40:50Not always, but it does work.
0:40:50 > 0:40:53Yeah, I mean, we're quite lucky the family business has done so well
0:40:53 > 0:40:55and we've thrown ourselves into it.
0:40:55 > 0:40:58Cos it's sort of a medium-sized property,
0:40:58 > 0:41:00Will does a lot more of the accounts' side
0:41:00 > 0:41:02and runs the finance of the business
0:41:02 > 0:41:06and I am sort of more client and sort of job management.
0:41:06 > 0:41:09That's pretty much our division of labour.
0:41:09 > 0:41:11But we do a number of varied, different tasks,
0:41:11 > 0:41:14cos that's what's involved in running a business.
0:41:14 > 0:41:15Did you always think
0:41:15 > 0:41:17that you were going to go into the family business?
0:41:17 > 0:41:20I flopped my A-level, so I thought I better become a plumber.
0:41:20 > 0:41:23- LUCY LAUGHS - So...
0:41:23 > 0:41:25So you've been a big disappointment to the family.
0:41:25 > 0:41:26They were quite clever.
0:41:26 > 0:41:29They didn't put us under any pressure, they were like,
0:41:29 > 0:41:30"Oh, do whatever you want to do."
0:41:30 > 0:41:32And then I just sort of thought I better become
0:41:32 > 0:41:35a plumber before I started trying to run the business,
0:41:35 > 0:41:38so that was good grounding, to where I am today.
0:41:38 > 0:41:40Come on, Will, what about you?
0:41:40 > 0:41:44For myself, I think my father always wanted
0:41:44 > 0:41:47- me to go more in the accounts' side. - So were you quite good on that?
0:41:47 > 0:41:48- Yeah.- Is that were your talent lies?
0:41:48 > 0:41:50Yeah, that's where my talent lies.
0:41:50 > 0:41:52- I've got a brain for numbers.- Good.
0:41:52 > 0:41:54So what a fantastic combination.
0:41:54 > 0:41:59So they've got the perfect skill set to take on the trials and
0:41:59 > 0:42:01tribulations of the property jungle.
0:42:01 > 0:42:03And Crawford, in particular,
0:42:03 > 0:42:07knows only too well how to survive in a new environment.
0:42:07 > 0:42:10I know you are no stranger to TV, because while you were
0:42:10 > 0:42:13flunking your A-levels, you were very busy on another TV show
0:42:13 > 0:42:15that was very popular in its time, weren't you?
0:42:15 > 0:42:19Yeah, I was really lucky enough I saw an advert to be Shipwrecked
0:42:19 > 0:42:23and I went for it, so I spent five months on the Cook Islands,
0:42:23 > 0:42:26and it was a fantastic experience.
0:42:26 > 0:42:29I was climbing trees for coconuts, cooking fires.
0:42:29 > 0:42:35I built a five-bedroom hut out in beautiful surroundings.
0:42:35 > 0:42:37Yeah, I fell in love with the whole thing.
0:42:37 > 0:42:39So, Crawford, was that a life lesson for you or did you just
0:42:39 > 0:42:41have a five-month holiday and it was brilliant?
0:42:41 > 0:42:43No, it was cos I became sort of a natural...
0:42:43 > 0:42:46I ended up leading the troops and it was like 15 of us at the end.
0:42:46 > 0:42:48One of the biggest things I learned is you just can't
0:42:48 > 0:42:50please all the people all the time.
0:42:50 > 0:42:52And I was a bit younger then, thinking,
0:42:52 > 0:42:55"You can always accommodate everyone and try make everyone happy,"
0:42:55 > 0:42:58but it is more important, you just get things done and you've just
0:42:58 > 0:43:00got to appreciate that you're going to upset a few people.
0:43:00 > 0:43:03What was it like watching your big brother on the telly week in,
0:43:03 > 0:43:05week out? I mean, what was it like for you?
0:43:05 > 0:43:08It was a little bit surreal to begin with. I enjoyed it at the same
0:43:08 > 0:43:11- time, it was nice.- And here you are, making your TV debut.- I know.
0:43:11 > 0:43:15- With Homes Under The Hammer. You're catching up with him.- That's it.
0:43:15 > 0:43:18Listen, guys, I'm really, really pleased for you both.
0:43:18 > 0:43:19I think it is a great property.
0:43:19 > 0:43:22And it's going to be interesting to find out if you get
0:43:22 > 0:43:23the planning permission granted.
0:43:23 > 0:43:27If you don't, you're going to have to revert to plan B. Good luck.
0:43:27 > 0:43:30- Thank you.- We'll catch up soon and find out how it all went.
0:43:30 > 0:43:32- Brilliant.- Lovely to meet you both. - Thank you.- Thank you.
0:43:32 > 0:43:34Nice to meet you.
0:43:34 > 0:43:38Brothers Crawford and Will certainly have useful skills that they can
0:43:38 > 0:43:41apply to this project, but will they get planning permission
0:43:41 > 0:43:45so they can go ahead with plan A and convert this house into flats?
0:43:45 > 0:43:47Join me later on in the programme
0:43:47 > 0:43:49and you can find out how the brothers get on.
0:43:52 > 0:43:54One property down, two to go.
0:43:54 > 0:43:57Have they stuck to their plans or have their plans become unstuck?
0:43:57 > 0:44:00Well, I think we'd better find out, don't you?
0:44:00 > 0:44:04SLOW GUITAR MUSIC PLAYS
0:44:06 > 0:44:08Welcome back to the beauty and tranquillity
0:44:08 > 0:44:10of the Cheshire countryside.
0:44:10 > 0:44:15And if the music seems a little sad, that's because this will be the last
0:44:15 > 0:44:19time we're here to cover the story of Preston on the Hill's mission.
0:44:20 > 0:44:26The village hasn't changed much since we first came here in 2004
0:44:26 > 0:44:28to meet the mission's new owner, Ed,
0:44:28 > 0:44:30who had just bought it at auction for
0:44:30 > 0:44:33£272,500.
0:44:33 > 0:44:35- Let's come onto the building then. - Yes.
0:44:35 > 0:44:36What are you going to do with it?
0:44:36 > 0:44:40We already have permission for a four-bedroom detached house.
0:44:40 > 0:44:43I've been speaking to the planners and there is options perhaps
0:44:43 > 0:44:45available of converting it into apartments,
0:44:45 > 0:44:48maybe even three dwellings, possibly even four.
0:44:48 > 0:44:50So we've got to explore that avenue.
0:44:50 > 0:44:52Do you have any idea of budgets for this project?
0:44:52 > 0:44:56Well, a fair scale, we reckon about £140,000 to spend on it.
0:44:56 > 0:44:57So what about timescales?
0:44:57 > 0:44:59Six to 12 months.
0:44:59 > 0:45:03Well, the best laid plans of church, mice and men, eh?
0:45:03 > 0:45:06Because little did he know that he was going to have planning
0:45:06 > 0:45:10problems and a recession to contend with.
0:45:10 > 0:45:13The last time we'd seen significant progress here was
0:45:13 > 0:45:14back in 2013.
0:45:21 > 0:45:24Ed had returned to his initial concept of dividing up the
0:45:24 > 0:45:26mission into more than one dwelling.
0:45:26 > 0:45:30The first of the four three-bedroom three-storey houses with
0:45:30 > 0:45:32vaulted ceilings was finished.
0:45:37 > 0:45:42Now, over 11 years since we first filmed here,
0:45:42 > 0:45:47we're back as the last of the four properties is finally completed,
0:45:47 > 0:45:50and this one needed some novel thinking to make the space work.
0:45:50 > 0:45:53# Going underground. #
0:45:53 > 0:45:55It required a subterranean solution
0:45:55 > 0:45:58to achieve two bedrooms and a wet room.
0:45:58 > 0:46:01# We're going underground. #
0:46:03 > 0:46:06In fact, there is more square footage underground than it
0:46:06 > 0:46:08has on the first- and second-floor.
0:46:08 > 0:46:12# I'm going underground
0:46:16 > 0:46:18# La, la, la, la
0:46:18 > 0:46:20# La, la, la, la... #
0:46:20 > 0:46:23But complying with building regulations for underground
0:46:23 > 0:46:27living, especially with things like fire management, was tricky.
0:46:27 > 0:46:32That had its challenges because we had to form a means of escape,
0:46:32 > 0:46:36So we constructed a sunken garden with a spiral staircase.
0:46:37 > 0:46:40And that obviously fulfilled the regulations.
0:46:40 > 0:46:43We also wanted to try and get natural light into the basement,
0:46:43 > 0:46:46particularly in one of the bedrooms because it didn't have any
0:46:46 > 0:46:49patio windows.
0:46:49 > 0:46:51Ed's solution was to fit walkable skylights -
0:46:51 > 0:46:55a type of light well with glass tough enough to walk over
0:46:55 > 0:46:57set into the patio.
0:46:57 > 0:47:00With the lights sorted, the next problem was air.
0:47:02 > 0:47:07We also had a difficulty in getting ventilation into these rooms.
0:47:07 > 0:47:12So natural ventilation and rapid installation was important.
0:47:12 > 0:47:16We managed to overcome that with the help from Building Control.
0:47:16 > 0:47:19As well as natural ventilation in the bedrooms,
0:47:19 > 0:47:22humidity-controlled fans extract moist air
0:47:22 > 0:47:24whenever the wet room is being used.
0:47:26 > 0:47:29Time to ring the changes on the other two floors.
0:47:29 > 0:47:31MUSIC: Faith by George Michael
0:47:31 > 0:47:35Ed has had faith in the project and has remained undaunted for
0:47:35 > 0:47:36nearly 12 years now,
0:47:36 > 0:47:41so there can really only be one song to accompany it in all its glory.
0:47:41 > 0:47:44# Cos I gotta have faith
0:47:44 > 0:47:46# I gotta have faith
0:47:46 > 0:47:49# Because I gotta have faith, faith, faith
0:47:49 > 0:47:52# I gotta have faith, faith, faith. #
0:47:52 > 0:47:56On the ground floor, there is a huge open-plan living and
0:47:56 > 0:48:01kitchen area, which is part new build and part refurbished space.
0:48:02 > 0:48:05Where possible, the original features have been retained
0:48:05 > 0:48:09or refurbished, like the new rope to ring the mission's bell.
0:48:12 > 0:48:15Ed spent more than he budgeted for on renovation,
0:48:15 > 0:48:18around £325,000.
0:48:18 > 0:48:21Added to his auction purchase price,
0:48:21 > 0:48:25this takes his total cost to approximately £600,000.
0:48:27 > 0:48:31He has sold houses one, two and three over the years for
0:48:31 > 0:48:35approximately £200,000 each to help fund the project.
0:48:35 > 0:48:38So, basically, the value of the rectory would be his profit
0:48:38 > 0:48:41on the development, before taxes and expenses.
0:48:41 > 0:48:45# I gotta have faith, faith, faith. #
0:48:45 > 0:48:49We called in two local estate agents to find out that value and give us
0:48:49 > 0:48:52their opinion of the development.
0:48:52 > 0:48:53I love it.
0:48:53 > 0:48:56A nice big open-plan kitchen/diner,
0:48:56 > 0:48:58which is very important today.
0:48:58 > 0:49:01The cellar conversion or basement level - very quirky
0:49:01 > 0:49:04but has the access externally to upstairs and
0:49:04 > 0:49:08a great master suite upstairs with a fantastic sun terrace.
0:49:08 > 0:49:10So, quirky but fantastic.
0:49:10 > 0:49:13I actually find it is quite a stunning property.
0:49:13 > 0:49:14I love the period features
0:49:14 > 0:49:16and love the impression
0:49:16 > 0:49:19from the outside, that the old red brick has been kept,
0:49:19 > 0:49:21that so many of the features are still in situ.
0:49:21 > 0:49:25I love the fact that there are balconies and that the light
0:49:25 > 0:49:29is used so much for the property and I can see it being very popular.
0:49:30 > 0:49:34What attributes would they be emphasising if they were selling it?
0:49:34 > 0:49:37I think the main selling points of the property are the
0:49:37 > 0:49:39proximity to the transport links.
0:49:39 > 0:49:42I think it being in its own area and surrounded by the green fields
0:49:42 > 0:49:44is a definite plus.
0:49:44 > 0:49:47And also being able to sit outside.
0:49:47 > 0:49:49I think everybody loves a bit of that.
0:49:49 > 0:49:53The biggest selling point for this property is the individuality,
0:49:53 > 0:49:57the fantastic views, its own private garden,
0:49:57 > 0:50:00which is different to the other ones on the development.
0:50:00 > 0:50:04The basement level - quirky, but it all adds to the impact.
0:50:04 > 0:50:06So very individual, very sellable.
0:50:06 > 0:50:08"Very sellable," good news.
0:50:08 > 0:50:12What would they market it at, then, if they were selling it?
0:50:12 > 0:50:14If the owner is looking to sell the property,
0:50:14 > 0:50:19I would hopefully expect to achieve £225,000.
0:50:19 > 0:50:22I think, if you're looking at purchase, it'd probably be around
0:50:22 > 0:50:25£230,000 to £240,000,
0:50:25 > 0:50:27and I think that should be easily attained.
0:50:27 > 0:50:30Well, that's very encouraging. That is bang on the money.
0:50:30 > 0:50:34And we are delighted with the outcome.
0:50:34 > 0:50:39240,000 sounds to be a lot of profit, but don't forget, over
0:50:39 > 0:50:43the time period of 12 years, that equates to around £20,000 per year.
0:50:45 > 0:50:47But for Ed, it's not all about the money.
0:50:49 > 0:50:54I have a social responsibility to keep men at work and,
0:50:54 > 0:50:58literally, do developments that I am proud of.
0:50:58 > 0:51:01And this is a particular one that I am very proud of.
0:51:01 > 0:51:05Ed is also proud the development has been nominated for
0:51:05 > 0:51:08Best Development in the Halton District.
0:51:08 > 0:51:11But I'm sure he'll forgive us if we don't come back again for
0:51:11 > 0:51:13a fifth time if he wins.
0:51:19 > 0:51:21We return now to Streatham, in South London,
0:51:21 > 0:51:26to a three-bed end-of-terrace house that was basically pretty sound,
0:51:26 > 0:51:29but certain aspects of it left me in a bit of a spin.
0:51:31 > 0:51:34I'm not quite sure what is going on because this window here
0:51:34 > 0:51:38has been put in...upside down? I don't know why.
0:51:38 > 0:51:39And in the corner over here,
0:51:39 > 0:51:42there is a plug socket right on the floor there,
0:51:42 > 0:51:44been put in...upside down?
0:51:44 > 0:51:47# Upside down, you're turning me
0:51:47 > 0:51:49# You're giving love instinctively
0:51:49 > 0:51:51# Round and round you're turning me. #
0:51:51 > 0:51:56It was bought by Thomas on behalf of his sons, Crawford and Will,
0:51:56 > 0:51:58for 385,000.
0:51:58 > 0:52:01And they also had their own angle on it.
0:52:02 > 0:52:05Well, the big thing, cos it's end-of-terrace,
0:52:05 > 0:52:08we are looking into the option of splitting it...
0:52:08 > 0:52:10Obviously, it's a single dwelling house at the moment,
0:52:10 > 0:52:14we're looking at seeing if we can split it into two two-bedroom flats.
0:52:15 > 0:52:18Crawford and Will work in their family plumbing and
0:52:18 > 0:52:21heating firm, so not only did they have their own experience,
0:52:21 > 0:52:24but knew people in the building trade to call on.
0:52:24 > 0:52:28They'd had hoped to convert the house into the two two-bed flats for
0:52:28 > 0:52:30between 30,000 to 40,000,
0:52:30 > 0:52:34or, failing that, to refurbish it as a three-bed house for 20,000.
0:52:34 > 0:52:38The plan was to complete all the work in three to four months
0:52:38 > 0:52:40and get it back on the resale market.
0:52:42 > 0:52:44Now, over seven months later,
0:52:44 > 0:52:47we're back to see if they've doubled their investment.
0:52:48 > 0:52:53Overall, outside, I'm glad to see that that stone cladding has gone.
0:52:53 > 0:52:58New windows and doors show promising signs, albeit unfinished ones.
0:52:58 > 0:53:00And inside...
0:53:01 > 0:53:06Well, it is freshly plastered and nearly ready for decoration.
0:53:06 > 0:53:07And the kitchen area?
0:53:09 > 0:53:12Wow, that has changed a bit with an open-plan layout
0:53:12 > 0:53:14and rear extension.
0:53:14 > 0:53:18This is going to be a wonderful space when it's finished,
0:53:18 > 0:53:21but it doesn't look like a layout for a flat to me.
0:53:21 > 0:53:24So, what's been going on?
0:53:24 > 0:53:27- # Ay, ay, ay - No, you're still the one
0:53:27 > 0:53:31- # Ay, ay, ay - No, you're still the one. #
0:53:31 > 0:53:34We originally did look to split it into two flats,
0:53:34 > 0:53:36but then it wasn't big enough for Lambeth Borough,
0:53:36 > 0:53:39it didn't meet their requirements,
0:53:39 > 0:53:41so we were unable to split the property into two flats.
0:53:41 > 0:53:46# Well, there's only one option that is left for me
0:53:46 > 0:53:47# Plan B! #
0:53:47 > 0:53:50So it was reverting to plan B,
0:53:50 > 0:53:52not a bad option after all.
0:53:52 > 0:53:55So now what we've had to do is we've got a four-bedroom house with
0:53:55 > 0:53:57an extension and a loft,
0:53:57 > 0:53:59and the loft also has an en suite.
0:53:59 > 0:54:03So it's four bedrooms with a lovely loft with an en suite.
0:54:03 > 0:54:07Well, it might only be one property, but they've really gone for it,
0:54:07 > 0:54:10with not only a full re-plaster, re-plumb and rewire
0:54:10 > 0:54:12of the three bedrooms.
0:54:12 > 0:54:15And there is a rather impressive bathroom, as you might expect
0:54:15 > 0:54:17from people running a plumbing firm.
0:54:17 > 0:54:21But they've also added that fourth en-suite bedroom in the loft,
0:54:21 > 0:54:23which really makes this a great family house.
0:54:26 > 0:54:29In addition to the problem of not having enough space to
0:54:29 > 0:54:31split into two flats,
0:54:31 > 0:54:34there was an issue with the party wall which actually halted
0:54:34 > 0:54:38the project for six weeks, hence the overrun in the timescale.
0:54:39 > 0:54:42They're hoping in another two to three weeks they'll be done.
0:54:42 > 0:54:45But with brothers running the family firm,
0:54:45 > 0:54:47how much of were they involved?
0:54:50 > 0:54:53I've been coming here once...about once a week.
0:54:53 > 0:54:56And we've had a really good team working here and
0:54:56 > 0:54:59a good project manager who has kept the project working,
0:54:59 > 0:55:01ticking along beautifully.
0:55:01 > 0:55:05And the only real claim to fame I've done anything good around
0:55:05 > 0:55:08here is I helped hoist the reinforced steel girders at
0:55:08 > 0:55:10the top of the house and the loft.
0:55:10 > 0:55:12I actually helped put them in place with about five, six others,
0:55:12 > 0:55:15and that was good fun. I quite enjoy that kind of stuff.
0:55:15 > 0:55:18# I want muscles! #
0:55:18 > 0:55:22While Crawford did his muscleman act, Will stayed mainly in
0:55:22 > 0:55:25the background, keeping an eye on the numbers.
0:55:25 > 0:55:27So how is that budget looking?
0:55:27 > 0:55:29On the subject of budget...
0:55:29 > 0:55:32We spent about 80,000 on the property,
0:55:32 > 0:55:36which was obviously slightly more than originally anticipated,
0:55:36 > 0:55:38but I think it's been money well spent.
0:55:38 > 0:55:42Slightly more? That's four times over their original budget.
0:55:42 > 0:55:46But they did decide to go for it with a loft extension and
0:55:46 > 0:55:47a rear extension,
0:55:47 > 0:55:50and they've upped their spec, but an 80 grand spend on top
0:55:50 > 0:55:54of their £385,000 purchase price
0:55:54 > 0:55:55well, that takes their total
0:55:55 > 0:55:58now to 465,000.
0:55:58 > 0:56:01So was it worth the extra spend?
0:56:01 > 0:56:03What do two local estate agents think?
0:56:03 > 0:56:06The finish here is really, really lovely.
0:56:06 > 0:56:08You can tell it's going to be a great finish.
0:56:08 > 0:56:10I think they've got a nice open-plan kitchen,
0:56:10 > 0:56:12which I would do in this property, in this area.
0:56:12 > 0:56:13It's what people are looking for.
0:56:13 > 0:56:16It's good they went into the loft to get an extra bedroom, bathroom.
0:56:16 > 0:56:17It's a really good refurbishment.
0:56:17 > 0:56:20They've gone right back to the brick and done a proper job.
0:56:20 > 0:56:22The kitchen layout is expanded because the kitchens in these
0:56:22 > 0:56:25houses are traditionally small. So he's done that very well.
0:56:25 > 0:56:28The attention to detail in the kitchen and bathroom is very good.
0:56:28 > 0:56:31I think the fact that it's brand-new is unusual for the area,
0:56:31 > 0:56:33being mainly 1930s, second-hand houses.
0:56:33 > 0:56:34So to have something brand-new,
0:56:34 > 0:56:36refurbished and very close to a station
0:56:36 > 0:56:38Great selling point, very unusual.
0:56:38 > 0:56:41In this area, four beds are definitely in demand.
0:56:41 > 0:56:45We've seen three- and four-beds rise in value from the last couple of
0:56:45 > 0:56:50years, go up to maybe about 600,000, so I think it definitely could work.
0:56:50 > 0:56:54So the interest in four-bed properties might have risen,
0:56:54 > 0:57:00but will that mean Crawford and Will's £465,000 investment is sound?
0:57:00 > 0:57:04This property could achieve £625,000 if put on the market.
0:57:04 > 0:57:08I think for sales the property will achieve a figure of £625,000.
0:57:08 > 0:57:11I think I'd be happy with 600.
0:57:11 > 0:57:13I'd be delighted with that.
0:57:14 > 0:57:17We might even get £625,000, Crawford,
0:57:17 > 0:57:22and that gives you a pre-tax profit of 160,000.
0:57:22 > 0:57:26With a possible rental yield of around 5%,
0:57:26 > 0:57:29you can see this is a great investment.
0:57:29 > 0:57:33But how would Crawford sum up this slightly protracted project?
0:57:34 > 0:57:39Well, I feel, as Churchill said, "The key to success is go from
0:57:39 > 0:57:42"failure to failure without loss of enthusiasm."
0:57:42 > 0:57:46And that's basically been my mantra for getting this project done.
0:57:46 > 0:57:49Hardly a failure, Crawford.
0:57:49 > 0:57:50And with a healthy profit on offer,
0:57:50 > 0:57:55it really shouldn't be too hard to maintain that enthusiasm.
0:57:57 > 0:58:00Well, there are auctions taking place all over the country
0:58:00 > 0:58:01at all times of the year.
0:58:01 > 0:58:04Yep, and we're at our fair share to capture that action.
0:58:04 > 0:58:07Yeah, so please join us next time for more Homes Under The Hammer.
0:58:07 > 0:58:10- Goodbye.- Yeah, goodbye. - Goodbye.- We'll see you then.