0:00:02 > 0:00:04Hello, and welcome to the show. Now, if you're a property developer,
0:00:04 > 0:00:07you certainly get to experience a whole range of emotions -
0:00:07 > 0:00:10excitement, fear and, if everything goes well, joy.
0:00:10 > 0:00:13Yeah. Being in control of your emotions is the key.
0:00:13 > 0:00:15Don't let your heart rule your head.
0:00:15 > 0:00:18So, why not head down to your local property auction
0:00:18 > 0:00:21and buy yourself your home under the hammer?
0:00:47 > 0:00:50Now, even the most experienced developers
0:00:50 > 0:00:54make mistakes and wish they could turn back the clock to fix things.
0:00:54 > 0:00:56Yes, until they invent a time machine -
0:00:56 > 0:00:58which is not possible at the moment! -
0:00:58 > 0:01:00you'll have to learn from your mistakes.
0:01:00 > 0:01:03So let's hope today's buyers didn't make too many mistakes.
0:01:03 > 0:01:04Let's see how they did.
0:01:05 > 0:01:07'I'm in Folkestone in Kent to see
0:01:07 > 0:01:11'a ground-floor flat that's exercising my patience.'
0:01:11 > 0:01:13If you can get one that fits, perhaps. That's a mat.
0:01:13 > 0:01:15HE GROWLS IN FRUSTRATION
0:01:15 > 0:01:17'I had my own form of exercise in mind
0:01:17 > 0:01:22'at this former depot in Milton near Stoke-on-Trent.'
0:01:22 > 0:01:24Bit of a gym. Bit of circuit training.
0:01:26 > 0:01:30And a full circuit of this three-bed detached house in south London
0:01:30 > 0:01:33might be too much for Lucy, because she's hitting...
0:01:33 > 0:01:35A wall, right there!
0:01:37 > 0:01:39All these properties have been sold at auction,
0:01:39 > 0:01:41and we'll find out who bought them and what they paid
0:01:41 > 0:01:43when they went under the hammer.
0:01:43 > 0:01:44Sold, 304, well done.
0:01:49 > 0:01:51Folkestone in Kent is a seaside town
0:01:51 > 0:01:54that used to be a small fishing village.
0:01:54 > 0:01:56But by the 1840s,
0:01:56 > 0:02:00it had become a departure point for the steamers heading to France.
0:02:00 > 0:02:03These days, travellers can catch the train via the Channel Tunnel
0:02:03 > 0:02:05to the Continent and beyond.
0:02:08 > 0:02:10Well, the flat I'm here to see is situated close
0:02:10 > 0:02:12to Folkestone Central train station,
0:02:12 > 0:02:16and that has very high-speed trains into the centre of London.
0:02:16 > 0:02:20So this is actually commuter territory, perhaps,
0:02:20 > 0:02:22in which case a two-bedroom flat with a guide price of
0:02:22 > 0:02:30£110,000 to £115,000 sounds like a very, very attractive opportunity.
0:02:31 > 0:02:34# She said, "I don't blame you, I'd do the same"
0:02:34 > 0:02:38# Opportunity knock-knock-knocks Open the door... #
0:02:38 > 0:02:40So what's on offer? Oh, I tell you what.
0:02:40 > 0:02:44You could dramatically improve the first impression straightaway by
0:02:44 > 0:02:48changing the door to something a bit prettier. Or at least painting it.
0:02:48 > 0:02:49But through the door...
0:02:50 > 0:02:52If you can get one that fits, perhaps. That's a mat.
0:02:52 > 0:02:55- HE GROWLS IN FRUSTRATION - I'll leave that for a minute.
0:02:55 > 0:02:57Through the front door into the...
0:02:58 > 0:03:00Excuse me for two seconds, dear reader.
0:03:00 > 0:03:03Get out the way! Thank you.
0:03:03 > 0:03:06Anyway, really nice entrance area, really big,
0:03:06 > 0:03:09which sets the scene for what is hopefully a really good-sized flat.
0:03:09 > 0:03:11Certainly, bedrooms - you've got one bedroom there,
0:03:11 > 0:03:13a really big bedroom there.
0:03:15 > 0:03:17Obviously you've got some kind of central heating, which is good.
0:03:17 > 0:03:19Honestly, these entrance areas, when they're like that,
0:03:19 > 0:03:24they just really just affect the whole feel of a house,
0:03:24 > 0:03:26houses AND flats, so that's a really good thing.
0:03:26 > 0:03:29Kitchen, well, that doesn't disappoint. It's a good size.
0:03:29 > 0:03:31Lots and lots of light, lots of windows.
0:03:31 > 0:03:33Now, clearly, the units are very dated.
0:03:33 > 0:03:36This whole thing's probably maybe been changed once
0:03:36 > 0:03:39in its life since it was built in probably the 1970s.
0:03:39 > 0:03:43And that era of flat definitely has a few things going for it,
0:03:43 > 0:03:45- one of which is the solidity... - SOLID BANGING
0:03:45 > 0:03:47Wow, what a great noise that is!
0:03:47 > 0:03:51..the solidity of the construction, so solid walls,
0:03:51 > 0:03:55none of your sort of stud partitions, which is really great.
0:03:55 > 0:03:57Anyway, into the main living area in the flat.
0:03:57 > 0:04:01And as you can see, again loads of light coming in from these massive
0:04:01 > 0:04:02windows, a really good-sized space.
0:04:04 > 0:04:05It's rare, I think, to find a flat
0:04:05 > 0:04:08that immediately ticks so many boxes.
0:04:08 > 0:04:10This is a great place. You could imagine living here,
0:04:10 > 0:04:12it's in a good spot. Yeah!
0:04:12 > 0:04:14Brilliant!
0:04:14 > 0:04:19'This flat is so bright and airy and has a long lease of over 900 years,
0:04:19 > 0:04:21'so it's almost without a blemish.
0:04:21 > 0:04:24'Almost.'
0:04:24 > 0:04:26Well, in this pretty spacious flat,
0:04:26 > 0:04:30the only bit that lets it down is the bathroom, because it's not huge.
0:04:30 > 0:04:32And it's accessed via this...
0:04:32 > 0:04:33very dated sliding door.
0:04:33 > 0:04:36The good news is, just behind there, there is a large cupboard.
0:04:36 > 0:04:39And although in flats you don't really want to lose storage space,
0:04:39 > 0:04:42I think get rid of that cupboard, increase the size of the bathroom,
0:04:42 > 0:04:46give yourself a proper-sized bath and then everything just works.
0:04:48 > 0:04:51'The great thing about this flat is that it also comes with a garage,
0:04:51 > 0:04:53'so if you did lose that cupboard,
0:04:53 > 0:04:56'you could have some extra storage space there.
0:04:56 > 0:04:57'But this is a leasehold property,
0:04:57 > 0:04:59'so getting permission to knock walls about
0:04:59 > 0:05:02'might be a bit more hassle than it's worth.
0:05:03 > 0:05:06'Something else that could be a pain are these.'
0:05:08 > 0:05:12Now, the windows are definitely a big feature in this flat.
0:05:12 > 0:05:14Absolutely amazing, throws all this light in here.
0:05:14 > 0:05:17But as you can see, one of them has got a bit of a problem.
0:05:17 > 0:05:20And this is something which happens on older double glazing.
0:05:20 > 0:05:22You get this kind of...
0:05:22 > 0:05:25well, condensation inside the unit.
0:05:25 > 0:05:28Well, clearly, that is a bit of a problem,
0:05:28 > 0:05:30because you certainly don't want that.
0:05:30 > 0:05:33'Erm, so, what to do?
0:05:33 > 0:05:35'Specialist companies can replace the glass
0:05:35 > 0:05:38'or inject a drying agent into damaged units and reseal them.
0:05:39 > 0:05:41'If they are beyond saving,
0:05:41 > 0:05:44'you would have to replace them and budget for that.'
0:05:46 > 0:05:48# Steamy windows... #
0:05:51 > 0:05:53Someone who won't be talking hot air
0:05:53 > 0:05:56is the local estate agent that we've asked along.
0:05:56 > 0:05:58As this flat comes with a garage,
0:05:58 > 0:06:01how much of a bonus is that in this location?
0:06:01 > 0:06:06Parking is a little bit compromised, because it's permit basis, so...
0:06:06 > 0:06:08or they just have an hour's parking.
0:06:08 > 0:06:10So to have a garage, whether people use it for their vehicle
0:06:10 > 0:06:14or indeed additional storage, is a real benefit to the property.
0:06:14 > 0:06:15And what about the flat itself?
0:06:17 > 0:06:19It's a very well-proportioned apartment.
0:06:19 > 0:06:20Obviously, being ground floor
0:06:20 > 0:06:23is going to be a really good benefit to a lot of people.
0:06:23 > 0:06:26It does require some updating, but a lot of it is cosmetic.
0:06:26 > 0:06:28So I think once all of it is improved,
0:06:28 > 0:06:30it will be a really super property.
0:06:30 > 0:06:35So, what could this flat, guided at 110,000 to 115,000,
0:06:35 > 0:06:37be worth when renovated?
0:06:37 > 0:06:39I think in terms of the value of the property,
0:06:39 > 0:06:44you'd be looking at about £165,000 to £170,000.
0:06:47 > 0:06:50Well, it's not often you come across a flat like this that's so instantly
0:06:50 > 0:06:53appealing and, when you go into it, doesn't feel claustrophobic.
0:06:53 > 0:06:55It feels light, it feels airy.
0:06:55 > 0:06:57It needs a bit of work, obviously it needs modernisation,
0:06:57 > 0:07:00but I think there's money to be made by doing that.
0:07:00 > 0:07:01And, you know what,
0:07:01 > 0:07:04when somebody came to buy it off you in the future,
0:07:04 > 0:07:06they would walk in and have the same reaction as I did.
0:07:06 > 0:07:09Lovely flat. Let's see who bought it when it went under the hammer.
0:07:11 > 0:07:15Two-bedroom flat with a garage. It's convenient for the town centre.
0:07:15 > 0:07:19So what are you going to start me on that one? £100,000 do I see?
0:07:19 > 0:07:21100? £100,000 I've got.
0:07:21 > 0:07:23100 I've got. And five now, if you like.
0:07:23 > 0:07:25105,000 I'm bid.
0:07:25 > 0:07:27110, if you like. 110 I'm bid.
0:07:27 > 0:07:29112 now, if you wish.
0:07:29 > 0:07:31112. 112.
0:07:31 > 0:07:32As this was one of the early lots,
0:07:32 > 0:07:35this meant that there was quite a lot of interest in this flat.
0:07:35 > 0:07:38We re-join the bidding at 138,000.
0:07:38 > 0:07:43At 138. At £138,000, then, I have for the first time.
0:07:43 > 0:07:47138,000 to the original maiden bidder for the second time.
0:07:47 > 0:07:49Third and final time. If nobody...
0:07:49 > 0:07:51140 I've got. 142, sir.
0:07:51 > 0:07:57141. 142. 142, if you like. 142, if you like.
0:07:57 > 0:08:00At £141,000, then, I'm selling for the first time...
0:08:01 > 0:08:04142. 143.
0:08:04 > 0:08:06144. 144?
0:08:06 > 0:08:11No? At £143,000, then, for the first time again.
0:08:11 > 0:08:12143 for the second.
0:08:12 > 0:08:15Third and final time, are we all done? 143,000.
0:08:16 > 0:08:19Yours at 143. Well done, sir. T407.
0:08:19 > 0:08:24'The successful bidder, paying 143,000 for this lot, was Mike.
0:08:24 > 0:08:27'He came along to tell me why he bought this ground-floor flat
0:08:27 > 0:08:30'and what he planned to do with it.'
0:08:30 > 0:08:32- Mike, great to meet you. - Hi, how are you?- Very good.
0:08:32 > 0:08:35- Congratulations!- Thank you. - Nice flat.- It is, isn't it?
0:08:35 > 0:08:38Yeah, really light and airy and, you know, just...
0:08:38 > 0:08:40- It's a really nice flat. Presumably that's why you bought it.- Yeah.
0:08:40 > 0:08:44Location. It's quite close to the seafront and it's quite close to the
0:08:44 > 0:08:46- station, as well, so...- Right.
0:08:46 > 0:08:48- Yeah.- So why did you buy it, other than those things?
0:08:48 > 0:08:50What's the purpose of it?
0:08:50 > 0:08:51Good price.
0:08:51 > 0:08:54Erm, to do up and to sell on, hopefully.
0:08:54 > 0:08:57- So...- And what was it that you particularly liked about it?
0:08:57 > 0:09:00I think it's, for me, because it's going to be my first development...
0:09:02 > 0:09:03..it's quite a simple one to do.
0:09:03 > 0:09:08So it's new kitchen, new bathroom, windows to be sorted.
0:09:08 > 0:09:12- But it's all fairly sound.- So, you say this is your first project.
0:09:12 > 0:09:15What's tempted you into doing this now?
0:09:15 > 0:09:17I've always fancied doing it
0:09:17 > 0:09:21and wanted to basically start a property career.
0:09:21 > 0:09:23So this is just... I thought I'd like to buy in London,
0:09:23 > 0:09:24but I can't afford that.
0:09:24 > 0:09:26So looking out,
0:09:26 > 0:09:30looking all round the south, and this one ticked all the boxes.
0:09:30 > 0:09:34- Yes.- So...- Is this your background, is this what you do?
0:09:34 > 0:09:37Er, no. I've done quite a few different things.
0:09:38 > 0:09:41I just fancied having a go at this...
0:09:41 > 0:09:43- OK.- ..to be fair, so... No, I do extra work.
0:09:43 > 0:09:45- Extra?- Yes.
0:09:45 > 0:09:47- Film and TV.- Oh, wow.
0:09:47 > 0:09:49How do you get into being an extra, then?
0:09:49 > 0:09:55I basically replied to an advert a long time ago for an extra to be in
0:09:55 > 0:09:58- Les Miserables.- What, the stage or the film?
0:09:58 > 0:10:01- The film.- Oh, right. - And from there,
0:10:01 > 0:10:05kept me on the books and more things have come through from there,
0:10:05 > 0:10:08so, yeah. It could be anything. I could have a phone call to be...
0:10:08 > 0:10:10I mean, I've been a pirate.
0:10:10 > 0:10:12- You've been a pirate? - I've been a pirate!
0:10:12 > 0:10:15- Brilliant.- Yeah, so... - Gosh.- Very varied.
0:10:15 > 0:10:17So do you get your name up on the credits?
0:10:17 > 0:10:22- No!- Oh!- Hopefully in the future if I do something, but, yeah.
0:10:22 > 0:10:24So, in my mind it makes property developing
0:10:24 > 0:10:25sound a bit boring in comparison!
0:10:25 > 0:10:28If I can balance it and do this and also do the
0:10:28 > 0:10:33background stuff and whatever, it's great, life's good.
0:10:33 > 0:10:36I think for fun, we should put Mike in a starring role.
0:10:36 > 0:10:38For starters, let's see that walk-up again.
0:10:38 > 0:10:40Only this time, with some different music.
0:10:40 > 0:10:42MUSIC: Little Green Bag by George Baker
0:10:42 > 0:10:43And little film effect...
0:10:47 > 0:10:49There we go, much better.
0:10:49 > 0:10:50# Yeah... #
0:10:50 > 0:10:54Inside, it's time to knock up the tension for a Hammer walk-around.
0:10:54 > 0:10:56DRAMATIC MUSIC
0:10:56 > 0:10:58Feel the excitement!
0:11:01 > 0:11:02Feel the emotion!
0:11:04 > 0:11:06Feel the wall for damp!
0:11:09 > 0:11:11And of course, Mike gets a credit for this.
0:11:11 > 0:11:13But enough silliness, back to the task at hand
0:11:13 > 0:11:15and a different kind of credit.
0:11:19 > 0:11:21- Budget for this.- Yes, yeah.
0:11:21 > 0:11:23I've allowed 15,000.
0:11:23 > 0:11:27- OK.- So, I'm hoping to come under that.
0:11:27 > 0:11:32So that's kitchen, windows, bathroom and everything throughout.
0:11:32 > 0:11:35I'm probably going to do quite a lot of it myself,
0:11:35 > 0:11:38so I'm hoping that I've overcooked the budget.
0:11:38 > 0:11:42- So...- Right. And what kind of timescale?
0:11:42 > 0:11:45- Six to eight weeks. - Right. And then on the market?
0:11:45 > 0:11:47- And then on the market. - So, you paid 143 for it.
0:11:47 > 0:11:50So, add in your 15-grand budget, takes you to about 160.
0:11:50 > 0:11:52What do you think it'll be worth once you've done all that?
0:11:52 > 0:11:56- I'm hoping 180-ish.- OK. - Yeah, 170, 180.
0:11:56 > 0:11:58- Right, so maybe 20 grand in it. - Yeah.- Then move on to the next one?
0:11:58 > 0:12:01- Yeah.- Yeah? Carry on.- So, yeah. - Are you looking forward to it?
0:12:01 > 0:12:04- I am. I can't wait, actually. I really can't wait.- Good.
0:12:04 > 0:12:06I've got some friends that want to get involved as well,
0:12:06 > 0:12:07- so...- Oh, great.
0:12:07 > 0:12:10I think it will be fish and chips and bottles of wine.
0:12:10 > 0:12:13That's the way to go! Well, listen, congratulations.
0:12:13 > 0:12:16- Fantastic.- Good luck. I shall look out for you in films.
0:12:16 > 0:12:20- Yes! I'll wave.- And now you really have hit the big time.
0:12:20 > 0:12:22- Indeed!- Now you're on Homes Under The Hammer.
0:12:22 > 0:12:25- Too right, too right.- And you're not an extra, you got a starring role!
0:12:25 > 0:12:28- Ta-dah! Fantastic. - Really lovely to meet you.
0:12:28 > 0:12:30Lovely to meet you. Cheers.
0:12:30 > 0:12:31Well, yes.
0:12:31 > 0:12:33Mike going from bit part to starring role
0:12:33 > 0:12:36on his first property renovation.
0:12:36 > 0:12:38And a great flat to take on.
0:12:38 > 0:12:41I can't wait to see how he transforms it.
0:12:41 > 0:12:43You can find out later in the show.
0:12:48 > 0:12:52The Caldon Canal runs through the Milton area of Stoke-on-Trent.
0:12:52 > 0:12:55Opened in 1779,
0:12:55 > 0:12:59the canal was originally built to carry limestone to Stoke potteries.
0:13:00 > 0:13:03While the 1950s saw the end of commercial use
0:13:03 > 0:13:05and a period of disrepair,
0:13:05 > 0:13:10it has found a new lease of life in recent decades as a cruising canal,
0:13:10 > 0:13:14taking boaters on a journey through the area's industrial past.
0:13:14 > 0:13:16Just a two-minute drive from the canal
0:13:16 > 0:13:18is the auction lot I'm here to see,
0:13:18 > 0:13:23a former council depot consisting of two buildings over 0.22 acres.
0:13:23 > 0:13:25It has a guide price of £35,000 plus,
0:13:25 > 0:13:27and it's not your average Hammer lot.
0:13:27 > 0:13:30But I'm going to have a look.
0:13:34 > 0:13:36OK, so it's a commercial building...
0:13:36 > 0:13:38which doesn't seem to be in bad condition.
0:13:38 > 0:13:42Maybe a few minor repairs on the roof and on the walls.
0:13:42 > 0:13:46But depending on what your business is, maybe a bit of storage,
0:13:46 > 0:13:49maybe you could store your truck in here and all its tools.
0:13:49 > 0:13:52It could be used for several kinds of businesses.
0:13:52 > 0:13:56Maybe you could store your landscaping tools in here, as well.
0:13:56 > 0:13:59Or even go back into my genre, when I was a little bit fitter.
0:13:59 > 0:14:02Maybe line the walls, bit of flooring.
0:14:02 > 0:14:04Maybe you could have a boot camp in here, bit of a gym.
0:14:04 > 0:14:07Bit of circuit training. I'm a bit too old for that now,
0:14:07 > 0:14:10so I'm going to have a look round the back, see what else I can find.
0:14:10 > 0:14:12# Witness the fitness
0:14:12 > 0:14:13# The Cruffiton liveth
0:14:13 > 0:14:17# One hope, one quest... #
0:14:17 > 0:14:22Walking out of here was exactly what the council groundworks team did.
0:14:22 > 0:14:24But it looks like it's been abandoned
0:14:24 > 0:14:26for as long as my fitness regime.
0:14:28 > 0:14:31Into the second unit, which is a bit of a mess.
0:14:31 > 0:14:33From what I can see, it has a toilet,
0:14:33 > 0:14:38a back room, and I would imagine this would have been the canteen
0:14:38 > 0:14:39or kitchen area. But it's...
0:14:39 > 0:14:42it's all a bit... It's been destroyed in here.
0:14:42 > 0:14:44You would have to spend a bit of money turning this round,
0:14:44 > 0:14:46and it's nowhere near the same condition
0:14:46 > 0:14:49as the first unit that we've already looked at.
0:14:49 > 0:14:51And it would eat into your budget.
0:14:51 > 0:14:56But this lot has an ace up its sleeve. Follow me and I'll show you.
0:14:56 > 0:14:58# Walk this way
0:14:58 > 0:15:01# Talk this way
0:15:01 > 0:15:03# Walk this way! #
0:15:03 > 0:15:06The beauty of this whole lot is this plot here.
0:15:06 > 0:15:09There's more than enough space to get two houses on here,
0:15:09 > 0:15:11obviously subject to planning.
0:15:11 > 0:15:14You would have to consider the electricity and these trees as well,
0:15:14 > 0:15:19that you might have to factor the cost of that into your budget.
0:15:19 > 0:15:22But whoever gets this whole, the whole lot and this here,
0:15:22 > 0:15:25could be onto a winner and a nice reward.
0:15:25 > 0:15:28In fact, dump the boot-camp idea.
0:15:28 > 0:15:33And why not demolish those sheds and build even more houses?
0:15:33 > 0:15:35However, before you give them the boot,
0:15:35 > 0:15:38even if removing this electricity supply pole is allowed,
0:15:38 > 0:15:43it could mean a very high charge, maybe even going into thousands.
0:15:43 > 0:15:45That needs to be taken into consideration,
0:15:45 > 0:15:49because trying to sell a house with this as a garden feature could prove
0:15:49 > 0:15:51a bit of a shocker.
0:15:51 > 0:15:54# Well, it's a shock, shock... #
0:15:54 > 0:15:58It's also a good idea to get the opinion of a local estate agent.
0:15:58 > 0:16:02They should be able to give you an overview of the area to see if it's
0:16:02 > 0:16:04even worth building houses here.
0:16:04 > 0:16:06So here's one we invited along for his views.
0:16:06 > 0:16:10So, basically, the site is located next to a public park.
0:16:10 > 0:16:12And it's on the edge of Milton village,
0:16:12 > 0:16:16which is a very popular area here in Stoke-on-Trent
0:16:16 > 0:16:20with lots of shops and amenities, doctor's surgery.
0:16:20 > 0:16:24It's a really good residential area. Basically, if I'd bought the plot,
0:16:24 > 0:16:26I would seek planning permission
0:16:26 > 0:16:28for two houses in front on the green side.
0:16:28 > 0:16:32And I would further look to demolish these outer buildings to
0:16:32 > 0:16:34probably build a couple of semis on here,
0:16:34 > 0:16:37so making four houses on the site in total.
0:16:40 > 0:16:43There are plenty of residential properties in this location,
0:16:43 > 0:16:46so it does seem a bit of a no-brainer.
0:16:46 > 0:16:48And four houses are definitely better than two,
0:16:48 > 0:16:50planning permission allowing, of course.
0:16:50 > 0:16:54So let's look at the numbers. What could two detached houses sell for?
0:16:55 > 0:16:59If somebody was to develop two separate three-bedroom properties
0:16:59 > 0:17:01at the front of the site,
0:17:01 > 0:17:05they are looking at a value around the 170,000 per unit,
0:17:05 > 0:17:07giving a total of 340,000.
0:17:09 > 0:17:14And with the agent valuing the potential semidetached properties
0:17:14 > 0:17:17at 140 grand each, that could bring a total return here
0:17:17 > 0:17:21to a very respectable 620 grand.
0:17:21 > 0:17:24And with that guide price of only £35,000 plus,
0:17:24 > 0:17:26I think this could be a great venture.
0:17:26 > 0:17:28Let's see who agreed when it went under the hammer.
0:17:29 > 0:17:30We'll say it's 25 to start me.
0:17:33 > 0:17:3425, as I say, to start.
0:17:34 > 0:17:3820, then. We're going to go 20. Cheap enough at that for a site.
0:17:38 > 0:17:4120 to start. 20 to it there. At £20,000.
0:17:41 > 0:17:4321 can I see now?
0:17:43 > 0:17:47At £20,000. 21. 22, sir, 22.
0:17:47 > 0:17:5023. 24.
0:17:50 > 0:17:55The bids soon flew past the guide price of £35,000 for this lot.
0:17:55 > 0:18:00Some bidders fell away. We re-join the bidding at £61,000.
0:18:01 > 0:18:04If not, £61,000 for the first time.
0:18:04 > 0:18:08Right in the corner, go on, then. 62.
0:18:08 > 0:18:1163. 64. 65.
0:18:11 > 0:18:1466. 67.
0:18:14 > 0:18:1568. 69.
0:18:15 > 0:18:17Shaking his head.
0:18:17 > 0:18:21Still with you, sir. 69, in the aisle at £69,000.
0:18:21 > 0:18:2470 anywhere else now?
0:18:24 > 0:18:27New bid at 70.
0:18:27 > 0:18:3071. 72. 73.
0:18:30 > 0:18:3374. 75. 76.
0:18:33 > 0:18:3677. 78.
0:18:36 > 0:18:39No? At £78,000 standing, then.
0:18:39 > 0:18:43At £78,000. 79 anywhere else?
0:18:43 > 0:18:47If not, £78,000 for the first time.
0:18:47 > 0:18:50£78,000 for the second time.
0:18:50 > 0:18:5379, back in. Cost you 80 now, sir.
0:18:55 > 0:18:56No?
0:18:56 > 0:19:0079, then. In the aisle, then, at £79,000. All done now?
0:19:00 > 0:19:04£79,000 in the aisle, no mistake at 79.
0:19:04 > 0:19:06Bought it, sir. Well done.
0:19:06 > 0:19:11'Paying more than twice the £35,000 guide price was Justin.
0:19:11 > 0:19:13'He's renovated some residential property
0:19:13 > 0:19:16'but focuses more on commercial property.
0:19:16 > 0:19:19'He rents out single units for small businesses,
0:19:19 > 0:19:22'a builder's yard and even a children's nursery.
0:19:22 > 0:19:25'So I started with the obvious question.'
0:19:25 > 0:19:27Justin, nice to meet you. Congratulations.
0:19:27 > 0:19:29- Thank you very much. - And you normally do commercial?
0:19:29 > 0:19:32- Yeah.- What's your ideas? Now you've got it, what's your ideas with this?
0:19:32 > 0:19:35- Are you going to do the same sort of thing?- Well, now I've looked at it,
0:19:35 > 0:19:37I'm not so impressed with it,
0:19:37 > 0:19:39because I only had one look in the dark
0:19:39 > 0:19:41and I thought it was a bit better than it was.
0:19:41 > 0:19:45But having had some planners look at the plot of land,
0:19:45 > 0:19:47they're saying I could do more with it than I thought I could.
0:19:47 > 0:19:50So I'm more interested in doing something with the residential now,
0:19:50 > 0:19:52and then possibly in 12 months or so I may attempt
0:19:52 > 0:19:55to put some houses on this or something, as well.
0:19:55 > 0:19:57OK, so you're going to go residential.
0:19:57 > 0:19:59- Yeah.- What are you going to do? Tell us exactly what you're going to do,
0:19:59 > 0:20:02because you've got a little bit more than you expected.
0:20:02 > 0:20:04Well, when I first spoke to the planners,
0:20:04 > 0:20:06I said I wanted to put a three-bed detached on.
0:20:06 > 0:20:10And looking at the size of the plot, I thought that's all I'd get on.
0:20:10 > 0:20:11But he looked at it and he said
0:20:11 > 0:20:13I could get easily two three-bed detached on
0:20:13 > 0:20:17with two parking spaces for each and big enough gardens etc.
0:20:17 > 0:20:19So I was quite pleased with that.
0:20:19 > 0:20:22And that's without this bit, this is just the greenery bit.
0:20:22 > 0:20:23What are you going to do with this?
0:20:23 > 0:20:26Well, hopefully put one or two on this after.
0:20:26 > 0:20:28'Justin hopes that if he can build the first two,
0:20:28 > 0:20:31'they will help him finance the next stage.
0:20:31 > 0:20:32'For the first stage, though,
0:20:32 > 0:20:35'he's already had some outline plans drawn up.
0:20:35 > 0:20:38'Part of this site backs onto a children's play park,
0:20:38 > 0:20:42'so that might be one of the issues that dictate what planners say.
0:20:42 > 0:20:45'This is Justin's first new-build project,
0:20:45 > 0:20:47'but he won't be tackling it on his own.'
0:20:47 > 0:20:49I've got a friend of mine who's a very good builder.
0:20:49 > 0:20:52He won the Bricklayer of the Year competition years ago when he was a
0:20:52 > 0:20:55teenager. He's a good lad, he is. And he does all building work.
0:20:55 > 0:20:57He does everything himself. He labours for himself,
0:20:57 > 0:21:00does everything, and he's going to build them.
0:21:00 > 0:21:02I'm going to help him occasionally.
0:21:02 > 0:21:05So to have one man working on your project for you and you'll come and
0:21:05 > 0:21:08- oversee it to make sure he's...- And help him a bit.- And help him, yeah,
0:21:08 > 0:21:10to get it how you want it done.
0:21:10 > 0:21:13How long is it going to take one person to get what you want done?
0:21:13 > 0:21:16Well, I don't see any reason why it shouldn't take
0:21:16 > 0:21:18more than six to eight months.
0:21:18 > 0:21:21As one person? That's a lot of work for one person.
0:21:21 > 0:21:24- Well, I'll be helping him a little bit.- Yeah.
0:21:24 > 0:21:27Got to clarify that "help a little bit" more for us!
0:21:27 > 0:21:29Well, more than a little bit. I'll be labouring for him, but...
0:21:29 > 0:21:33- So you don't mind getting stuck in yourself?- No, I don't mind, no, no.
0:21:33 > 0:21:37It will take more than hard labour to build two houses here.
0:21:37 > 0:21:39It will take hard cash, too.
0:21:39 > 0:21:41Justin hopes to get the building work
0:21:41 > 0:21:43on the first two houses done for 100 grand,
0:21:43 > 0:21:46which does not seem like a lot.
0:21:46 > 0:21:50But with his builder mate Wayne and Justin doing the work themselves,
0:21:50 > 0:21:52this could keep the cost down.
0:21:52 > 0:21:56It could also be handy that building runs in the family.
0:21:56 > 0:21:58Well, my grandad was a builder,
0:21:58 > 0:22:01quite a large company in the '40s, '50s,
0:22:01 > 0:22:03'60s and '70s,
0:22:03 > 0:22:06and he built quite a lot of council estates and schools etc.
0:22:06 > 0:22:11But when my dad was born, he built two roads just up in Sandyford,
0:22:11 > 0:22:13one called Russell Road and one called Russell Close.
0:22:15 > 0:22:17And they were named after my father.
0:22:17 > 0:22:20And when I was born, my father was into building,
0:22:20 > 0:22:22and he built somewhere in Porthill a cul-de-sac
0:22:22 > 0:22:24called Justin Close after me.
0:22:24 > 0:22:30So I'm hoping to name these Amy Rose Cottages after my daughter.
0:22:30 > 0:22:33- That's fantastic!- That's the idea, if I can get away with it.
0:22:33 > 0:22:36'It must be pretty special having a street named after you.
0:22:36 > 0:22:38'Dion Drive, anyone?
0:22:38 > 0:22:43'No? OK. The council will decide whether to approve it or not.
0:22:43 > 0:22:46'I bet Justin's 11-year-old daughter Amy Rose
0:22:46 > 0:22:47'will be chuffed if it happens.
0:22:47 > 0:22:51'But will she be following in her father's property footsteps?'
0:22:51 > 0:22:54I don't know! I'm hoping to give it up myself soon.
0:22:54 > 0:22:57You might be able to, mate, if it keeps going like this.
0:22:57 > 0:22:59- Oh, well, you never know, so... - I'm sure you'll be fine, Justin.
0:22:59 > 0:23:01- Thank you.- I wish you all the best.
0:23:01 > 0:23:04- Thank you very much. - I hope it goes well.- Thank you.
0:23:04 > 0:23:07Justin may have got a little bit more than what he was expecting.
0:23:07 > 0:23:09He thought he only had space for one house.
0:23:09 > 0:23:10He's got space for two houses.
0:23:10 > 0:23:14And on this plot here, he might get three and four, as well.
0:23:14 > 0:23:16I think Justin's onto a winner.
0:23:16 > 0:23:18Amy Rose Cottages could be in the making.
0:23:18 > 0:23:20You can find out how he gets on later on in the programme.
0:23:22 > 0:23:25Coming up, Lucy just can't keep a lid on her excitement
0:23:25 > 0:23:29at this three-bed detached house in south London.
0:23:29 > 0:23:31I am such a fan of the old paint pot!
0:23:33 > 0:23:35And in Milton near Stoke-on-Trent,
0:23:35 > 0:23:39Justin got a bit of a shock when it came to moving a power line.
0:23:39 > 0:23:41..and I expected quite a large bill for that.
0:23:46 > 0:23:50Back now to the seaside town of Folkestone in Kent,
0:23:50 > 0:23:55where I saw a surprisingly bright and airy two-bed ground-floor flat.
0:23:55 > 0:23:58Although some of the window units were blown and would need to be
0:23:58 > 0:24:01replaced, they did let in a lot of light to the spacious rooms.
0:24:01 > 0:24:04And with a long lease of over 900 years,
0:24:04 > 0:24:06this flat had a lot going for it.
0:24:06 > 0:24:07But it wasn't perfect.
0:24:09 > 0:24:12Well, in this pretty spacious flat,
0:24:12 > 0:24:16the only bit that lets it down is the bathroom, because it's not huge.
0:24:16 > 0:24:18And it is accessed via this...
0:24:18 > 0:24:19very dated sliding door.
0:24:19 > 0:24:22The good news is, just behind there, there is a large cupboard.
0:24:22 > 0:24:25And although in flats you don't really want to lose storage space,
0:24:25 > 0:24:28I think get rid of that cupboard, increase the size of the bathroom,
0:24:28 > 0:24:33give yourself a proper-sized bath and then everything just works.
0:24:33 > 0:24:36The pokey bathroom really was the only big negative here,
0:24:36 > 0:24:42so I can see why Mike paid £143,000 for this flat at auction.
0:24:42 > 0:24:45It was his first time trying his hand at property development,
0:24:45 > 0:24:49as his main income is from work as an extra in film and television,
0:24:49 > 0:24:53where he's played everything from pirates to policemen.
0:24:53 > 0:24:54So do you get your name up on the credits?
0:24:54 > 0:24:59- No!- Oh!- Hopefully in the future, if I do something, but, yeah.
0:24:59 > 0:25:02So, in my mind it makes property development sound a bit boring in
0:25:02 > 0:25:05- comparison, doesn't it?- Well, no. If I can balance it and do this
0:25:05 > 0:25:09and also do the background stuff and whatever, it's great. Life's good.
0:25:09 > 0:25:13It seemed like Mike had cast the right flat for his first property
0:25:13 > 0:25:17development. He thought he could get the work done in six to eight weeks,
0:25:17 > 0:25:19so it's time to see if this flat is
0:25:19 > 0:25:22ready for its premiere ten weeks later.
0:25:25 > 0:25:29There's not a red carpet in sight, but I think Mike can take a bow.
0:25:29 > 0:25:32The new flooring and the modern, streamlined kitchen
0:25:32 > 0:25:34with lovely worktops are A-list,
0:25:34 > 0:25:37and Mike has also made the best of that lovely hallway.
0:25:40 > 0:25:44But what about the bathroom, which, although not a Hammer horror,
0:25:44 > 0:25:46it certainly did need a remake?
0:25:49 > 0:25:54It remains the same size, but Mike decided to give it a bigger part.
0:25:54 > 0:25:56The changes here, it's quite dramatic.
0:25:56 > 0:25:59We ripped everything out, started again,
0:25:59 > 0:26:02moved the bath across to this side.
0:26:02 > 0:26:05We were going to maybe try and pinch a bit of space from that cupboard,
0:26:05 > 0:26:08but when we actually put the full bath in, it works really well.
0:26:08 > 0:26:11We've got a brand-new shower,
0:26:11 > 0:26:14new tiles, and the floor tiles I absolutely love.
0:26:14 > 0:26:15I'm really, really pleased with it.
0:26:15 > 0:26:18I think it's probably one of my favourite rooms.
0:26:20 > 0:26:22The rest of the flat has been rewired
0:26:22 > 0:26:24and redecorated in neutral colours.
0:26:24 > 0:26:26And although as an extra Mike
0:26:26 > 0:26:29did not get his name up on the big screen,
0:26:29 > 0:26:32he certainly deserves credit for doing a lot of the work...
0:26:33 > 0:26:35..as do a few other people
0:26:35 > 0:26:38who have helped make this transformation happen.
0:26:38 > 0:26:42Well, originally I was going to be doing a lot of the work myself.
0:26:42 > 0:26:47And I found a guy down here called David - a big thank you to David.
0:26:47 > 0:26:52He came in and he helped lay the floor, helped me put in the kitchen
0:26:52 > 0:26:54and also helped put in the bathroom, as well.
0:26:54 > 0:26:57The main person I want to say thank you to is Debs,
0:26:57 > 0:27:00who's been here all the way through, through thick and thin.
0:27:00 > 0:27:03She has been the filler queen,
0:27:03 > 0:27:08painter extraordinaire, and it's been a joy to have her here.
0:27:08 > 0:27:11It didn't all go to plan on the first take, though,
0:27:11 > 0:27:12for Mike and Debs.
0:27:13 > 0:27:16We'd been working quite late. We went out and had a pizza...
0:27:16 > 0:27:18and a bottle of wine or maybe two.
0:27:18 > 0:27:20And we came back, and I decided
0:27:20 > 0:27:24to paint the feature wall of an olive colour,
0:27:24 > 0:27:26which, the next morning, when we looked at it,
0:27:26 > 0:27:29decided that I'd painted the majority of the ceiling with it.
0:27:29 > 0:27:32So I had to basically change that,
0:27:32 > 0:27:36and so we've gone neutral throughout now. So, lesson learnt!
0:27:36 > 0:27:39Yes, wine and painting are not a good combination.
0:27:39 > 0:27:43Best avoided. One of the bigger issues of this flat was those
0:27:43 > 0:27:46double-glazed windows which looked to have failed.
0:27:48 > 0:27:51Well, I think when I first looked at it, a lot of the windows were blown.
0:27:51 > 0:27:56So I then assumed that they'd all have to be ripped out,
0:27:56 > 0:27:59which is where the budget was about 3,000, 3,500.
0:27:59 > 0:28:02That's what I'd sort of estimated.
0:28:02 > 0:28:06And as it was, the local company down here in Folkestone came in
0:28:06 > 0:28:09and just said no, it's just a case of actually replacing the glass.
0:28:09 > 0:28:12And they came in at £460.
0:28:12 > 0:28:14So overall, the original budget was 15,000
0:28:14 > 0:28:17and I spent round about 13,500.
0:28:17 > 0:28:21So, yeah, it's come in. And we've come in sort of within budget
0:28:21 > 0:28:23and also within the timeframe, as well.
0:28:23 > 0:28:25With a holiday sneaked in, as well!
0:28:27 > 0:28:31A well-deserved holiday, as Mike has had a busy few months.
0:28:31 > 0:28:34Also been doing some extra work whilst this has been going on.
0:28:34 > 0:28:38So, the last one was I was an American soldier in that.
0:28:38 > 0:28:39So... And there's...
0:28:39 > 0:28:43I'm going to potentially be a very posh polo player
0:28:43 > 0:28:44watching a polo match,
0:28:44 > 0:28:46which is coming up in the next couple of weeks.
0:28:46 > 0:28:48And there's a few others coming along.
0:28:48 > 0:28:51So, yeah, it's a good balance. It's good fun.
0:28:51 > 0:28:55# Film star, giving it class
0:28:55 > 0:28:57# Living it fast tonight... #
0:28:57 > 0:29:01Mike seems to have had good fun on the property-developing side, too.
0:29:01 > 0:29:05Now he has grabbed the bull by the horns and done his first renovation,
0:29:05 > 0:29:07will he do more?
0:29:07 > 0:29:10I think, erm, I would definitely develop again down here,
0:29:10 > 0:29:14because I've got a good team around me now.
0:29:14 > 0:29:16But it all depends how much it's worth, really.
0:29:18 > 0:29:20Well, it's time to find out, Mike.
0:29:20 > 0:29:23As usual, we've asked along two local estate agents to see what they
0:29:23 > 0:29:26think of the changes in this flat.
0:29:26 > 0:29:30First, let's hear from the agent who saw it last time.
0:29:31 > 0:29:33It's really well presented.
0:29:33 > 0:29:36Obviously, nice new fitted kitchen, bathroom, all new carpets
0:29:36 > 0:29:39throughout. So it's all ready to go.
0:29:39 > 0:29:43The bathroom is a small space, but it's been nicely utilised,
0:29:43 > 0:29:48well designed. The finishes are good, quality of fittings are good.
0:29:48 > 0:29:51All in all, I think a good result.
0:29:51 > 0:29:54Whether Mike goes for a sequel in this area
0:29:54 > 0:29:56will depend on the outcome of the valuations.
0:29:56 > 0:30:01So, will he make a profit on his £156,500 investment?
0:30:01 > 0:30:03The market value for this property
0:30:03 > 0:30:07currently would be £175,000 to £180,000.
0:30:07 > 0:30:09In today's market, I believe this flat
0:30:09 > 0:30:13could sell for £180,000 to £185,000.
0:30:13 > 0:30:16That is really where I was in line with.
0:30:16 > 0:30:19Originally, I'd sort of thought maybe 175.
0:30:19 > 0:30:23I have spoken to another estate agent that said high 100s,
0:30:23 > 0:30:25but it's pick a number, really.
0:30:25 > 0:30:28And it really comes down to who would actually buy it and what price
0:30:28 > 0:30:32they're prepared to pay. So, no, that's ideal, that's fabulous.
0:30:32 > 0:30:36Getting that top valuation of 185,000 would mean a pre-tax profit
0:30:36 > 0:30:39of 28,500.
0:30:39 > 0:30:41Has he enjoyed this Folkestone project?
0:30:43 > 0:30:44It's been great.
0:30:44 > 0:30:49I mean, I think it's been ideal because of the weather, as well.
0:30:49 > 0:30:52To finish here and then go down to the sea and go for a swim
0:30:52 > 0:30:55has been awesome. So, no, it's been great. Really good experience.
0:30:59 > 0:31:02This is Norbury in south London.
0:31:02 > 0:31:05It's an area that has plenty of green spaces,
0:31:05 > 0:31:07local amenities and a train station
0:31:07 > 0:31:10which takes you into central London in 20 minutes.
0:31:12 > 0:31:15The first station was built in the 1800s.
0:31:15 > 0:31:19Passengers would disembark here to see the horse races that were held
0:31:19 > 0:31:20in the area.
0:31:20 > 0:31:22Well, the races may have finished,
0:31:22 > 0:31:24but plenty of people are still jockeying for position
0:31:24 > 0:31:29in the property market that there is in this popular south London spot.
0:31:30 > 0:31:32I'm here to see a three-bed detached house,
0:31:32 > 0:31:36and it had a guide price of £450,000 plus.
0:31:36 > 0:31:38Now, it looks a little bit dwarfed
0:31:38 > 0:31:41by its large neighbours on either side,
0:31:41 > 0:31:42doesn't it?
0:31:42 > 0:31:46# Is there anybody home who wants to have me
0:31:46 > 0:31:48# Just to love me?
0:31:48 > 0:31:50# Stuck in the middle... #
0:31:51 > 0:31:53Wow, that's a lovely, big,
0:31:53 > 0:31:56heavy front door with some beautiful stained glass.
0:31:56 > 0:31:59I mean, so much more character on the inside
0:31:59 > 0:32:01than what I was expecting. You've got all this lovely wood panelling,
0:32:01 > 0:32:04although it's very dark and oppressive.
0:32:04 > 0:32:06I am such a fan of the old paint pot!
0:32:06 > 0:32:09If you could paint that, it would really lighten the place up.
0:32:09 > 0:32:12And, you know, painted wood can look fantastic.
0:32:12 > 0:32:13That's a fabulous staircase.
0:32:13 > 0:32:16Look at that. It's got a real '30s feel to it in here.
0:32:16 > 0:32:20And again, look. Lovely, solid wood doors.
0:32:20 > 0:32:24You can really imagine what that would be like with a lovely layer of
0:32:24 > 0:32:27paint over it. Now, I can hear some of you going, "What?
0:32:27 > 0:32:29"You should stain it and keep it as wood!"
0:32:29 > 0:32:32But I think that would look really finished once painted.
0:32:32 > 0:32:35Again, you've got a nice little fire surround up here.
0:32:35 > 0:32:38I'm not quite sure about the beams above my head.
0:32:38 > 0:32:39They don't add too much character,
0:32:39 > 0:32:42and it sort of gives a bit of a stripy feeling in here.
0:32:42 > 0:32:44So I think I'd probably be more inclined
0:32:44 > 0:32:46to board that whole ceiling over.
0:32:46 > 0:32:50But there's a lot you can work with in this room. It's spacious.
0:32:50 > 0:32:52I mean, you've already got double-glazed windows here.
0:32:52 > 0:32:56They're not my favourites, uPVC, but they're in and they look quite new,
0:32:56 > 0:32:59so maybe it's best to leave them. So, so far so good.
0:32:59 > 0:33:02A fantastic space, it's got character,
0:33:02 > 0:33:05and I can really imagine a family wanting to live here.
0:33:06 > 0:33:10Lucy is spot-on there. This is a sizeable property.
0:33:10 > 0:33:14Upstairs, there are two good-sized bedrooms and a box room,
0:33:14 > 0:33:17and there is a bathroom and a separate loo.
0:33:17 > 0:33:19Probably best knocked into one.
0:33:19 > 0:33:23But Lucy has discovered some more pressing layout issues downstairs.
0:33:25 > 0:33:27This is where it goes a little bit wrong.
0:33:27 > 0:33:29So, you've got a bit of an interim area.
0:33:29 > 0:33:33There's a loo in there, and then you walk through into the kitchen.
0:33:33 > 0:33:35Erm, and it's just a little bit clumsy.
0:33:35 > 0:33:38You've got the boiler there, really small space.
0:33:38 > 0:33:42So I'm not excited by the kitchen at all.
0:33:42 > 0:33:44And then you've got a wall right there.
0:33:44 > 0:33:46So, a wall there,
0:33:46 > 0:33:49and there's a wall here and another sort of corridor through here,
0:33:49 > 0:33:51and then you've got this rather nice room,
0:33:51 > 0:33:54which is, I think, the original part of the house.
0:33:54 > 0:33:57And then you've got this area through here, which is like a cold,
0:33:57 > 0:34:00hard, tiled floor, maybe a dining room,
0:34:00 > 0:34:02but you've got another wall here.
0:34:02 > 0:34:05I know I'm going on a bit, but it just doesn't flow.
0:34:05 > 0:34:07It really doesn't work for me,
0:34:07 > 0:34:10and it feels very lovely and original
0:34:10 > 0:34:13down the front part of the house as you walk in, very '30s.
0:34:13 > 0:34:14And at the back, well, you know...
0:34:14 > 0:34:17Look, these sort of French doors leading out to the garden.
0:34:17 > 0:34:18The character just stops
0:34:18 > 0:34:22and it just doesn't seem to connect with the house.
0:34:22 > 0:34:24Yeah? I'm going to have a look out in the garden.
0:34:27 > 0:34:29Well, no! I won't be walking out to the garden from here
0:34:29 > 0:34:31and that's because...
0:34:31 > 0:34:33there's a six-foot drop!
0:34:33 > 0:34:35Loads of bushes in my way,
0:34:35 > 0:34:38and basically it's just me and a Juliet balcony.
0:34:38 > 0:34:39I mean, it's such a shame that you
0:34:39 > 0:34:43can't have direct access out to this garden!
0:34:43 > 0:34:49# Romeo and Juliet, they never felt this way, I bet
0:34:49 > 0:34:56# So don't underestimate my point of view... #
0:34:56 > 0:35:00It's not fair Verona where we lay out our scene, of course,
0:35:00 > 0:35:04but lay a veranda out here and you could have direct access to outdoor
0:35:04 > 0:35:07space without having to go through the kitchen.
0:35:07 > 0:35:10What could also work would be to take a leaf
0:35:10 > 0:35:12out of the neighbour's book and extend.
0:35:12 > 0:35:15But what kind of extension would give the best return here?
0:35:17 > 0:35:20We asked a local estate agent along to give us his advice.
0:35:23 > 0:35:27This specific area, people look for between three and five bedrooms.
0:35:27 > 0:35:28The property prices are a bit higher.
0:35:28 > 0:35:30Adding a bedroom or two would
0:35:30 > 0:35:33drastically improve the value of the property.
0:35:33 > 0:35:35It sounds like a no-brainer.
0:35:35 > 0:35:38However, there might just be a catch.
0:35:38 > 0:35:39Looking around at this property,
0:35:39 > 0:35:42I think there could be some scope for extension,
0:35:42 > 0:35:43although I think it would be difficult
0:35:43 > 0:35:45to get maybe a room or two in the roof,
0:35:45 > 0:35:47just because of the way it's shaped.
0:35:47 > 0:35:50So, an attic conversion might be out of the question.
0:35:50 > 0:35:53So what does the agent think the best option would be?
0:35:53 > 0:35:57I think for this specific property, keep it as a three-bedroom,
0:35:57 > 0:35:58and just make it as best as you can,
0:35:58 > 0:36:02good finishes, kitchen, bathroom etc, and I think that'll be fine.
0:36:04 > 0:36:06The agent thinks that without an extension,
0:36:06 > 0:36:11this house once renovated could sell for anything between £575,000 and
0:36:11 > 0:36:15£590,000, depending on the level of finish.
0:36:15 > 0:36:18But adding a nice, large single-storey extension
0:36:18 > 0:36:21and spending your money on high-spec finishes
0:36:21 > 0:36:24could be the best way to maximise your profit.
0:36:24 > 0:36:26Extended and renovated to a very high standard,
0:36:26 > 0:36:29it would sell for approximately £650,000,
0:36:29 > 0:36:32possibly pushing the £675,000 mark.
0:36:32 > 0:36:35Well, this is a good, solid property in a popular spot.
0:36:35 > 0:36:39It's got character, and once you've sorted out that layout, well,
0:36:39 > 0:36:42I think it could be a really lovely home for someone.
0:36:42 > 0:36:45So, who saw the potential? Let's head to auction and find out.
0:36:47 > 0:36:50Three-bedroom detached house in need of modernisation.
0:36:50 > 0:36:51Offered with vacant possession.
0:36:51 > 0:36:55Who'd like to give me a start on this? 470 anywhere?
0:36:55 > 0:36:56Somebody want to have a crack at this?
0:36:56 > 0:36:59Thank you. 470 I've got.
0:36:59 > 0:37:01Straight ahead, thank you. 475.
0:37:03 > 0:37:06480. 485.
0:37:07 > 0:37:09How much? 482.
0:37:09 > 0:37:10484.
0:37:10 > 0:37:13The bidding wasn't exactly frantic for this lot,
0:37:13 > 0:37:17but there were still a few interested parties.
0:37:17 > 0:37:21We re-join the action at 496,000.
0:37:21 > 0:37:25If not, 496, standing up on my right at the back.
0:37:25 > 0:37:27That's against you sitting down at the back on my left.
0:37:27 > 0:37:29Anybody else? 498?
0:37:29 > 0:37:31498. 500, yeah?
0:37:31 > 0:37:33500. 502.
0:37:33 > 0:37:39No? If not, 500 for the first, 500 for the second.
0:37:39 > 0:37:41500 for the third and final time.
0:37:41 > 0:37:43Sold, 500.
0:37:43 > 0:37:47The successful bidder, paying £500,000 for this property,
0:37:47 > 0:37:49was Luca and his dad Paul.
0:37:49 > 0:37:52They have bought this as a business investment together.
0:37:52 > 0:37:55Luca works for one of his father's companies
0:37:55 > 0:37:57and also runs his own developments.
0:37:57 > 0:37:59Luca used to be a League Two footballer
0:37:59 > 0:38:01but kicked that career into touch
0:38:01 > 0:38:03and is now tackling property development.
0:38:03 > 0:38:05He came along with his friend Howard
0:38:05 > 0:38:08to tell Lucy about their tactics for this '30s house.
0:38:09 > 0:38:11Guys, congratulations. Luca, lovely to meet you.
0:38:11 > 0:38:13- Nice to meet you, too.- Howard.
0:38:13 > 0:38:15- And you.- Now, Luca, it was just you at the auction.
0:38:15 > 0:38:18- Is this your property? - It is indeed, yes.
0:38:18 > 0:38:20I've been to a couple of auctions previous.
0:38:20 > 0:38:23- Yeah.- A lot of money exchanging hands etc.
0:38:23 > 0:38:25- Yeah! Just a bit!- Yeah, so...
0:38:25 > 0:38:29We were going to bid for a couple of properties before this one came up.
0:38:29 > 0:38:31I think we've had a bit of a touch,
0:38:31 > 0:38:33that we didn't get them and we've managed to secure this one.
0:38:33 > 0:38:35Do you think this was the right property for you?
0:38:35 > 0:38:38Certainly, yeah. I mean, we're sort of building in stepping stones.
0:38:38 > 0:38:43So, we've done a couple of flats together and a house in Leatherhead.
0:38:43 > 0:38:45So this is sort of the next step for us.
0:38:45 > 0:38:48And, yeah, we're extremely happy, over the moon to get this one.
0:38:48 > 0:38:51- Looking forward to getting started. - Tell me a bit about the both of you.
0:38:51 > 0:38:54Now, do you work together as a team? Howard, what do you do?
0:38:54 > 0:38:57Well, I'm basically the project manager, so I do a lot of the work,
0:38:57 > 0:38:59but I oversee it as well.
0:38:59 > 0:39:01And, yeah, it's been going quite well
0:39:01 > 0:39:03so far on the previous projects.
0:39:03 > 0:39:06So, are you two mates? Do you stem from a long friendship?
0:39:06 > 0:39:09- Friends about eight years now. - Yeah, eight or ten years.
0:39:09 > 0:39:10Used to play football together,
0:39:10 > 0:39:13so then obviously going out when we were younger a lot on the town,
0:39:13 > 0:39:17and so we built, obviously, built a good relationship.
0:39:17 > 0:39:20And we've started working together now, so that's going really well.
0:39:20 > 0:39:23- Is it a good, fun day at work? - Yeah, brilliant.- Is it?
0:39:23 > 0:39:25We love going to work, to be honest with you.
0:39:25 > 0:39:27And do you socialise together?
0:39:27 > 0:39:29- Oh, we live together. - Yeah, we live together as well!
0:39:29 > 0:39:31You're planning your nights out while you're working!
0:39:31 > 0:39:33Exactly. Yeah, yeah.
0:39:33 > 0:39:35We're here, seeing what we can do on a Saturday night.
0:39:35 > 0:39:37We play football together, as well, so...
0:39:37 > 0:39:41- Can't get rid of him.- You're now project-managing all the properties,
0:39:41 > 0:39:44- you're buying them. - Yeah.- We had a good team, didn't we?
0:39:44 > 0:39:47Yeah. I mean, we've had a team for about a year now,
0:39:47 > 0:39:50so we all sort of have our input, get everyone in together,
0:39:50 > 0:39:54all the tradesmen, and we sort of go from there, really.
0:39:54 > 0:39:56So you're actually on-site, both of you, every day?
0:39:56 > 0:40:00- Me. I'm here every day.- So, tell me what you have to do, Howard.
0:40:00 > 0:40:03Well, I do a lot of the work myself. Tiling's my main trade,
0:40:03 > 0:40:06but I've done property development for a few years.
0:40:06 > 0:40:09So I know a fair bit about it. And...
0:40:10 > 0:40:12..the contractors we've had in before,
0:40:12 > 0:40:13they're all friends, as well.
0:40:13 > 0:40:16So, we all work together well as a team,
0:40:16 > 0:40:18and I oversee them, make sure they do it all properly,
0:40:18 > 0:40:20but I trust them, they know exactly what they're doing
0:40:20 > 0:40:21and I do every bit of work that
0:40:21 > 0:40:25- I can, basically.- So, are you both excited about starting this project?
0:40:25 > 0:40:28- I'd say this one more than any. - Yeah, definitely.- Best one so far.
0:40:28 > 0:40:29So, why is this the best one so far?
0:40:29 > 0:40:31What's got your juices flowing about this house?
0:40:31 > 0:40:35- Potential in it.- Potential in it, definitely.- Yes!- The area...
0:40:35 > 0:40:39is a busy area, it's sought after, so there's a lot we can do with it.
0:40:39 > 0:40:40What changes can you make
0:40:40 > 0:40:43and how can you add value to a property like this?
0:40:43 > 0:40:46- We like... We like the entrance, don't we?- Yeah, certainly,
0:40:46 > 0:40:49the old traditional front door with the stained glass,
0:40:49 > 0:40:51nice timber panels as you come in.
0:40:51 > 0:40:53That's... All them features we're going to keep,
0:40:53 > 0:40:55certainly at the front of the house.
0:40:55 > 0:40:57Starting with the windows, we are going to keep it traditional.
0:40:57 > 0:41:00We're going to go with the flush fit in the casements.
0:41:00 > 0:41:02- Are you?- Yeah.- Really? - Yes.- I'm really surprised.
0:41:02 > 0:41:05I'm really glad about that, because they're my favourite,
0:41:05 > 0:41:07but they're really expensive.
0:41:07 > 0:41:09They are. I mean,
0:41:09 > 0:41:11as a family, we own two window companies.
0:41:11 > 0:41:13- Oh, there you go. - It's going to be no cost to us.
0:41:13 > 0:41:16- Not quite as expensive. - Fantastic! Bingo!
0:41:16 > 0:41:20Exactly, it's a bit of a touch... It's a touch for us to...
0:41:20 > 0:41:24- So no uPVC in sight. That's going. - Yeah.- You can have lovely wooden
0:41:24 > 0:41:27- timber casements.- Exactly. - Oh, fantastic.- Timber casements
0:41:27 > 0:41:31- and then aluminium bifolds towards the back of the property.- So new
0:41:31 > 0:41:35- windows and doors.- Yeah.- Anything else?- Kitchen's obviously going to
0:41:35 > 0:41:38have to be redone. We're thinking of putting an island in the middle,
0:41:38 > 0:41:41- aren't we?- Yeah. - And a new bathroom suite.
0:41:41 > 0:41:42That's all going to be needed.
0:41:42 > 0:41:44So, let's talk about the downside, for me.
0:41:44 > 0:41:47As you walk through the front door,
0:41:47 > 0:41:49all fantastic, and then it's a bit of a rabbit warren.
0:41:49 > 0:41:51- It doesn't really work.- Those walls,
0:41:51 > 0:41:53as you come through the front, obviously,
0:41:53 > 0:41:54like you say, a rabbit warren.
0:41:54 > 0:41:57They get in your way a bit. And we want the light coming through
0:41:57 > 0:41:59from the front door, so we're going to knock a few walls
0:41:59 > 0:42:03through there so it's much easier access to the kitchen.
0:42:03 > 0:42:06And that'll be the utility and toilet area to your right,
0:42:06 > 0:42:08and then, as for out the back,
0:42:08 > 0:42:10we're going to put a balcony out through the doors,
0:42:10 > 0:42:12aren't we? South facing, as well,
0:42:12 > 0:42:15so they get the nice bit of sun on the balcony, as well.
0:42:15 > 0:42:17So, what sort of budget have you got to do the work here?
0:42:17 > 0:42:19Because it sounds like extensive plans.
0:42:19 > 0:42:21You're going to spend a bit of money on the place.
0:42:21 > 0:42:25I'd say we're probably looking at roughly around 50 grand.
0:42:25 > 0:42:27- That sort of thing.- £50,000. - 50, 60 grand.
0:42:27 > 0:42:28How long do you think it's going to take you?
0:42:28 > 0:42:30I think we can get this out in three, four?
0:42:30 > 0:42:33- Yeah.- Three to four months? You think you can turn this around?
0:42:33 > 0:42:36So you're purely buying this up to sell it at a profit.
0:42:36 > 0:42:39- Exactly.- Guys, I'm so excited to see the outcome.
0:42:39 > 0:42:41Congratulations and good luck with this project.
0:42:41 > 0:42:43- Well done.- Thank you very much. - Thank you.- Thank you.
0:42:45 > 0:42:48So, Luca and Howard seem, well, pretty relaxed
0:42:48 > 0:42:51and actually really excited about their latest project.
0:42:51 > 0:42:54But will it all be as straightforward as they think?
0:42:54 > 0:42:57Join me later in the programme and you can find out.
0:43:00 > 0:43:02We still need to find out what's happened
0:43:02 > 0:43:04to our two remaining properties.
0:43:04 > 0:43:08Are they doing a Mexican wave or are they just waving goodbye to profit?
0:43:08 > 0:43:09Let's find out how they got on.
0:43:12 > 0:43:15Time to head back to Milton near Stoke-on-Trent,
0:43:15 > 0:43:19where I saw a former council groundworks depot.
0:43:19 > 0:43:22It had a large shed that was actually in good condition.
0:43:23 > 0:43:25Around the back was a separate building
0:43:25 > 0:43:29that housed some offices that were less so.
0:43:29 > 0:43:33But the beauty of this whole lot is this plot here.
0:43:33 > 0:43:36There's more than enough space to get two houses on here,
0:43:36 > 0:43:38obviously subject to planning.
0:43:38 > 0:43:40You would have to consider the electricity
0:43:40 > 0:43:41and these trees, as well,
0:43:41 > 0:43:46that you might have to factor the cost of that into your budget.
0:43:46 > 0:43:50But whoever gets this whole lot and this here could be onto a winner.
0:43:53 > 0:43:56The successful bidder, who paid 79 grand
0:43:56 > 0:43:58for this lot at auction, was former
0:43:58 > 0:44:01car salesman turned property developer Justin.
0:44:01 > 0:44:04He normally buys and rents out commercial properties,
0:44:04 > 0:44:06but with this, he's trying something new.
0:44:06 > 0:44:09Well, when I first spoke to the planners,
0:44:09 > 0:44:11I said I wanted to put a three-bed detached on.
0:44:11 > 0:44:14Looking at the size of the plot, I thought that's all they'd get on.
0:44:14 > 0:44:17But he looked at it and said I could get easily two three-bed detached
0:44:17 > 0:44:21on with two parking spaces for each and big enough gardens etc.
0:44:21 > 0:44:24So, I was quite pleased with that.
0:44:24 > 0:44:26This was his first attempt at a new-build,
0:44:26 > 0:44:28but construction runs in the family.
0:44:28 > 0:44:33His grandfather and father were both builders and the family tradition is
0:44:33 > 0:44:37to name streets on estates they've built after family members.
0:44:37 > 0:44:39Justin planned to follow suit.
0:44:39 > 0:44:44I'm hoping to name these Amy Rose Cottages after my daughter.
0:44:44 > 0:44:46- That's fantastic!- That's the idea, if I can get away with it.
0:44:46 > 0:44:48Armed with some outline plans,
0:44:48 > 0:44:52he was ready to negotiate with the local planning department
0:44:52 > 0:44:54to hopefully have his builder friend Wayne
0:44:54 > 0:44:57put up the houses in around six to eight months.
0:44:57 > 0:45:00Now, we're back a year and ten months later.
0:45:00 > 0:45:03Amy Rose Cottages should be a reality.
0:45:03 > 0:45:05# But I guess that's why they say
0:45:05 > 0:45:09# Every rose has its thorn
0:45:11 > 0:45:17# Just like every night has its dawn
0:45:17 > 0:45:24# Just like every cowboy sings a sad, sad song
0:45:25 > 0:45:29# Every rose has its thorn... #
0:45:32 > 0:45:35Sadly, the planning has been a prickly issue,
0:45:35 > 0:45:39so Justin hasn't managed to have anything built here yet,
0:45:39 > 0:45:42which must be disappointing.
0:45:42 > 0:45:46Unfortunately, the council didn't like the idea that the houses both
0:45:46 > 0:45:49weren't facing the road in a line.
0:45:49 > 0:45:52They were talking about the frontage needed to be the same all the way
0:45:52 > 0:45:55down the road, so they told me that they wouldn't allow it,
0:45:55 > 0:45:57but we went ahead anyway.
0:45:57 > 0:46:00It got refused, we went to appeal and it got refused again,
0:46:00 > 0:46:04so now we're back to square one and we're looking at a single detached
0:46:04 > 0:46:06house with four bedrooms,
0:46:06 > 0:46:09which is probably where we'll end up having to go.
0:46:09 > 0:46:12Justin did manage to do some preparation work
0:46:12 > 0:46:14during all the wrangling.
0:46:14 > 0:46:17Some trees have been removed, and I'm glad to see that they've managed
0:46:17 > 0:46:20to have that electricity supply pole moved.
0:46:21 > 0:46:24And you might be shocked at how much it cost.
0:46:26 > 0:46:28We got hold of the electric company
0:46:28 > 0:46:31and I expected quite a large bill for that.
0:46:31 > 0:46:33But as it happened, they didn't charge me anything.
0:46:33 > 0:46:34All they asked for was...
0:46:36 > 0:46:39..to put the electric within a metre of the boundary,
0:46:39 > 0:46:42so they had access to it and to sign a wayleave for me to put it there.
0:46:42 > 0:46:44And they never charged me a penny.
0:46:44 > 0:46:47# I owe you nothing
0:46:47 > 0:46:51# Nothing, nothing at all
0:46:51 > 0:46:54# Nothing, nothing at all, all... #
0:46:54 > 0:46:56Well, not quite for nothing.
0:46:56 > 0:47:00The electricity company now have an access agreement to enter the
0:47:00 > 0:47:04property's boundary to make repairs at any time.
0:47:04 > 0:47:08This agreement normally transfers to any future owners of the land
0:47:08 > 0:47:12or property on it, which may put some people off purchasing it.
0:47:12 > 0:47:15So, slow progress on the plot of land,
0:47:15 > 0:47:20but Justin has at least been able to utilise the groundworks depot.
0:47:20 > 0:47:24I've now converted this bit here into usable for myself.
0:47:24 > 0:47:28I've put a toilet in it and drains etc, electric, water.
0:47:28 > 0:47:31And it will be a good base when we eventually get planning permission
0:47:31 > 0:47:34to build just at the side there. So, I'm happy about that.
0:47:34 > 0:47:38With plenty of secure space to store materials and equipment,
0:47:38 > 0:47:41the depot is an ideal base for the site, and in the future,
0:47:41 > 0:47:44once the house is hopefully complete,
0:47:44 > 0:47:47he intends to convert the depot into a nursery and add it to his
0:47:47 > 0:47:49commercial rental portfolio.
0:47:52 > 0:47:55The budget for the building of the two houses was 100 grand.
0:47:55 > 0:47:59But how's that new plan affected his budget for a single four-bed house?
0:48:01 > 0:48:04We're still on a similar budget, I'd imagine, because the one house
0:48:04 > 0:48:07we're building now is going to be a lot bigger and a better spec,
0:48:07 > 0:48:10and also the council asked us to put a brick wall
0:48:10 > 0:48:13around the outside of the property, which will cost a few quid, as well.
0:48:13 > 0:48:17It's time to see if two local estate agents think that his
0:48:17 > 0:48:20new, revised plan is the way to go.
0:48:20 > 0:48:23First, let's hear from the agent that saw it last time.
0:48:23 > 0:48:25Well, obviously, you know,
0:48:25 > 0:48:28currently the plans are to put a four-bedroom property on the land
0:48:28 > 0:48:31adjacent to the building here.
0:48:31 > 0:48:36That's probably a good plan, because the land is a substantial size.
0:48:36 > 0:48:41Obviously, it's within a good area for residential, for families,
0:48:41 > 0:48:44so I would think it would be a very attractive proposition.
0:48:44 > 0:48:46The current plan for the four-bedroom detached house, I feel,
0:48:46 > 0:48:50is a much better idea, certainly, one plot with four bedrooms,
0:48:50 > 0:48:52and allow for the parking in the property.
0:48:52 > 0:48:54I feel it would fit in the surroundings well
0:48:54 > 0:48:57and certainly would be a good idea to move forward on.
0:48:57 > 0:49:00So, it's right for the plot and the area.
0:49:00 > 0:49:02But is it the right move financially?
0:49:04 > 0:49:09A four-bedroom property in this location would be worth £220,000.
0:49:09 > 0:49:12In today's market, if a four-bedroom home was built and had the usual
0:49:12 > 0:49:16sort of layout, with four bedrooms, en suite, first-floor bathroom,
0:49:16 > 0:49:19off-road parking, I would suggest that the property would be worth
0:49:19 > 0:49:22around £250,000.
0:49:22 > 0:49:23I think they're right.
0:49:23 > 0:49:26I mean, I personally thought about 240-ish, anyway.
0:49:26 > 0:49:28I think if the house was somewhere else,
0:49:28 > 0:49:31you could probably get a bit more, because it's going to be a quite
0:49:31 > 0:49:35good-spec house. But on its own, where it is, I think 250...
0:49:35 > 0:49:37I'd be happy with that.
0:49:37 > 0:49:42Well, a top value of 250 grand would give Justin a pre-tax profit
0:49:42 > 0:49:44of £71,000.
0:49:44 > 0:49:47Plus, he's got the potential income from renting the depot unit in the
0:49:47 > 0:49:52future. But something that might be worth more than money is the chance
0:49:52 > 0:49:55to carry on the family tradition and name it after his daughter.
0:49:57 > 0:50:00Well, the intention originally was to build two and call them
0:50:00 > 0:50:03the Amy Rose Cottages after my daughter.
0:50:03 > 0:50:06That got knocked back, so I'm applying for one,
0:50:06 > 0:50:08one house, the Amy Rose Cottage.
0:50:08 > 0:50:10If that gets knocked back
0:50:10 > 0:50:14then we're going to rename this shed the Amy Rose Shed.
0:50:14 > 0:50:17I like his attitude. Be it cottage or shed,
0:50:17 > 0:50:20a rose by any other name would smell just as sweet for Justin.
0:50:27 > 0:50:32Back now to Norbury, where Lucy saw this charming 1930s detached house.
0:50:33 > 0:50:35It had bags of character in the front,
0:50:35 > 0:50:37but the ground floor at the back was less appealing.
0:50:41 > 0:50:45It was a bit of a warren, and to say the access to the garden wasn't
0:50:45 > 0:50:47great...well, that would be an understatement.
0:50:49 > 0:50:52Well, no, I won't be walking out to the garden from here, and that's
0:50:52 > 0:50:56because...there's a six-foot drop!
0:50:56 > 0:51:00And it was going to take a fair few drops of sweat to get this old house
0:51:00 > 0:51:02back to its best.
0:51:02 > 0:51:04Feeling up to the challenge was Luca.
0:51:04 > 0:51:08He spent a hefty 500 grand on this house at auction.
0:51:08 > 0:51:10He wasn't on his own, though,
0:51:10 > 0:51:13as his mate Howard is a tradesman and his project manager.
0:51:14 > 0:51:16As they play football together,
0:51:16 > 0:51:20they make a great team both on the pitch and at work.
0:51:20 > 0:51:23- Is it a good, fun day at work? - Yeah, brilliant.- Is it?
0:51:23 > 0:51:25We love going to work, to be honest with you.
0:51:25 > 0:51:27And do you socialise together?
0:51:27 > 0:51:29- Oh, we live together. - We live together, as well.
0:51:29 > 0:51:31So you're planning a night out while you're working.
0:51:31 > 0:51:32Exactly. Yeah, yeah.
0:51:32 > 0:51:35We're in here, seeing what we can do on a Saturday night.
0:51:35 > 0:51:37- We play football together, as well. So...- Yeah.
0:51:37 > 0:51:39Can't get rid of him.
0:51:39 > 0:51:43One thing that they did want to get rid of was that Juliet balcony,
0:51:43 > 0:51:44so we're back eight months later
0:51:44 > 0:51:47to see if they've managed to dump poor Juliet.
0:51:49 > 0:51:52# You keep on giving me the hold-up
0:51:52 > 0:51:56# You used to be my Romeo
0:51:56 > 0:51:59# Cos you see, my dear, I have had enough
0:51:59 > 0:52:04# Of keeping quiet about all this stuff... #
0:52:04 > 0:52:05They have indeed.
0:52:05 > 0:52:09Balconies and verandas do not fall within permitted development, and
0:52:09 > 0:52:12planning has taken four months longer than they would have liked,
0:52:12 > 0:52:15but it has been worth it in the end.
0:52:15 > 0:52:18OK, so what we done here, we extended the wall,
0:52:18 > 0:52:19obviously put the big bifolds in,
0:52:19 > 0:52:23which gives you that bigger feel with the kitchen. As you can see,
0:52:23 > 0:52:26we've added the balcony, so we've added the steels in,
0:52:26 > 0:52:28the high-spec deck and then the glass.
0:52:28 > 0:52:30And we didn't want to put any balustrades in,
0:52:30 > 0:52:33so it gives you that sort of open feeling.
0:52:33 > 0:52:36So, the outside is looking fantastic, but what about inside?
0:52:36 > 0:52:41Let's start at the front, which had so many nice original features,
0:52:41 > 0:52:43like the stained-glass windows and wood panelling.
0:52:46 > 0:52:47It's bright and fresh,
0:52:47 > 0:52:51but, sadly, the original features have gone and there are no casement
0:52:51 > 0:52:54windows. What happened to Luca's original plan?
0:52:56 > 0:52:57To be honest, we were going to...
0:52:57 > 0:53:00We didn't know whether to keep the front of the house
0:53:00 > 0:53:01a more Victorian feel.
0:53:01 > 0:53:05However, we just thought that with the sort of light grey
0:53:05 > 0:53:07that we've gone for and a modern look,
0:53:07 > 0:53:09we'll just take out all the original features
0:53:09 > 0:53:11and just go completely new everywhere.
0:53:11 > 0:53:13This new, modern look can best be seen
0:53:13 > 0:53:15at the back of the house in this...
0:53:15 > 0:53:17- # Brand-new... # - ..kitchen/diner.
0:53:19 > 0:53:22Moving the partition wall has really created space.
0:53:24 > 0:53:26They've also added a separate...
0:53:26 > 0:53:28- # Brand-new... # - ..utility room...
0:53:29 > 0:53:31..and managed to squeeze in a...
0:53:31 > 0:53:34- # Brand-new... # - ..downstairs toilet.
0:53:34 > 0:53:38# Brand-new Brand-new, brand-new... #
0:53:38 > 0:53:40Upstairs has had a reconfigure.
0:53:40 > 0:53:43The larger bedrooms have had the walls knocked around
0:53:43 > 0:53:45to make a small box room into a proper double.
0:53:54 > 0:53:58The separate toilet and bathroom have been combined and now house
0:53:58 > 0:54:02a full-sized family bathroom that is...you guessed it...
0:54:02 > 0:54:05# Brand-new...
0:54:05 > 0:54:07# Brand-new... #
0:54:07 > 0:54:09This house has clearly had a complete overhaul.
0:54:09 > 0:54:14The whole project, including fees and stamp duty, has cost 100,000,
0:54:14 > 0:54:18which is 40 grand more than Luca had budgeted for. So why the increase?
0:54:20 > 0:54:23The reason we went more was because...
0:54:23 > 0:54:24One was because of the balcony at the back,
0:54:24 > 0:54:27which we didn't know we were going to add at the time.
0:54:27 > 0:54:29Two, obviously, we've rendered...
0:54:29 > 0:54:31we completely rendered the outside - we didn't know whether
0:54:31 > 0:54:34we were going to keep it pebble-dash or render.
0:54:34 > 0:54:37The drive, rather than just putting shingle down everywhere,
0:54:37 > 0:54:41we've block-paved it. The kitchen, we've gone high spec, the bathroom,
0:54:41 > 0:54:43we've gone high spec, obviously extended one of the bedrooms.
0:54:43 > 0:54:45So we haven't just done, like, a full refurb.
0:54:45 > 0:54:46We've moved some walls around
0:54:46 > 0:54:48and put top-spec kitchen, wires, bathroom etc,
0:54:48 > 0:54:51and then that balcony is the wow factor,
0:54:51 > 0:54:53so that's cost a couple of quid.
0:54:53 > 0:54:56Luca decided against wooden casement windows because of the style
0:54:56 > 0:54:58of other houses in the estate.
0:54:58 > 0:55:01But they are brand-new, like everything else.
0:55:01 > 0:55:05So, what position has ex-footballer Luca played in this project?
0:55:06 > 0:55:09I was more of a relaxed role in this project,
0:55:09 > 0:55:14so I was here probably once a week, coming, doing little bits,
0:55:14 > 0:55:16especially at the start in terms of ripping the place out.
0:55:16 > 0:55:21But whilst the project got sort of moving and all the trades came in,
0:55:21 > 0:55:24I sort of took a step back and just came to oversee it,
0:55:24 > 0:55:26basically bought the blokes lunch,
0:55:26 > 0:55:29bought all the boys lunch, bought them a drink every now and again
0:55:29 > 0:55:31and just made sure that, yeah,
0:55:31 > 0:55:33it was all moving forward nice and smoothly.
0:55:33 > 0:55:35There is no such thing as a free lunch, though,
0:55:35 > 0:55:38and it was up to Luca's friend Howard to be there daily,
0:55:38 > 0:55:39to manage the team,
0:55:39 > 0:55:42who have put in a fair amount of graft in this house.
0:55:42 > 0:55:44Yeah, I'm very happy with Howard.
0:55:44 > 0:55:47I think he's done a blinding job with the place.
0:55:47 > 0:55:48He's obviously kept on top of it,
0:55:48 > 0:55:51made sure the boys are here doing their jobs, and he's...
0:55:51 > 0:55:54he's obviously got stuck in himself and he's done a top,
0:55:54 > 0:55:57top job of doing all the tiling, fitting the kitchen and that.
0:55:57 > 0:56:00So, yeah, over the moon with Howard.
0:56:00 > 0:56:03It's turned out very nice. I'm very happy with it.
0:56:03 > 0:56:04I think the bathrooms,
0:56:04 > 0:56:09the kitchen and the balcony are the three key factors to the house.
0:56:09 > 0:56:11Very nice, very high spec and, yeah,
0:56:11 > 0:56:14I don't think anyone wouldn't like them, really.
0:56:14 > 0:56:18I agree, Howard, but let's test that theory and ask two local estate
0:56:18 > 0:56:21agents if they like it. First, the agent who saw it last time.
0:56:24 > 0:56:25It's my second time in the property,
0:56:25 > 0:56:27and the changes are fantastic, actually.
0:56:27 > 0:56:30I think this property's been finished to an excellent standard.
0:56:30 > 0:56:33You can tell from the doors and the kitchen that they've used,
0:56:33 > 0:56:35all the way through to the colours, as well.
0:56:35 > 0:56:37So I think it's exactly what you want to see here.
0:56:37 > 0:56:40The selling points definitely are you've got the three bedrooms
0:56:40 > 0:56:42and they're all good-size bedrooms.
0:56:42 > 0:56:45You've got the two reception rooms, the open-plan kitchen,
0:56:45 > 0:56:48you have got an upstairs bathroom, as well.
0:56:48 > 0:56:50And obviously it is high specification, as well.
0:56:50 > 0:56:55So I think that definitely works for the property.
0:56:55 > 0:56:56But will the sales figures work?
0:56:56 > 0:56:59A total of 600,000 has been invested in the house.
0:56:59 > 0:57:01What could it sell for?
0:57:03 > 0:57:06On the sales market, this would achieve approximately £625,000,
0:57:06 > 0:57:09possibly £630,000.
0:57:09 > 0:57:11I think the property can achieve anywhere
0:57:11 > 0:57:15between £625,000 and £650,000.
0:57:15 > 0:57:20We were looking at sort of certainly 750, around that mark,
0:57:20 > 0:57:23specially with the spec of the place and with the properties that are
0:57:23 > 0:57:25for sale. We know what a few of them have sold at
0:57:25 > 0:57:28and what they're on the market at at the moment,
0:57:28 > 0:57:30and with what we've done and the places that are for sale,
0:57:30 > 0:57:32yeah, it's a bit low.
0:57:33 > 0:57:35If I'm honest with you.
0:57:35 > 0:57:39We're still going to put it on the market at just under 800 grand
0:57:39 > 0:57:41and see what we get for it from there.
0:57:41 > 0:57:44So we're still happy with the investment and the purchase.
0:57:44 > 0:57:47- Confident we can sell it at that price, anyway.- Yeah.
0:57:47 > 0:57:51With Luca and Howard's full spend, including fees and taxes,
0:57:51 > 0:57:52being 600,000,
0:57:52 > 0:57:54either way they are onto a winner
0:57:54 > 0:57:57and it just takes one buyer in a very competitive market
0:57:57 > 0:57:59to pay the price they're looking for.
0:57:59 > 0:58:02So, will this team stick together for more projects?
0:58:03 > 0:58:06- Of course.- 100% we'll work together again, yeah.
0:58:06 > 0:58:10- It's going very well. - Living together, working together.
0:58:10 > 0:58:11- Yeah.- It's not that bad.
0:58:15 > 0:58:18Behind every auction, there's a different story to tell.
0:58:18 > 0:58:21Yes, and we'll have lots more stories for you next time.
0:58:21 > 0:58:23Yeah, so join us here on Homes Under The Hammer.
0:58:23 > 0:58:25- See you soon.- Bye.- Goodbye.