Episode 67 Homes Under the Hammer


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Episode 67

A flat in Folkestone in Kent, a former council depot in Milton in Stoke-on-Trent and a detached 1930s house in Norbury in London are sold at auction.


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Transcript


LineFromTo

Hello, and welcome to the show. Now, if you're a property developer,

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you certainly get to experience a whole range of emotions -

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excitement, fear and, if everything goes well, joy.

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Yeah. Being in control of your emotions is the key.

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Don't let your heart rule your head.

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So, why not head down to your local property auction

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and buy yourself your home under the hammer?

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Now, even the most experienced developers

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make mistakes and wish they could turn back the clock to fix things.

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Yes, until they invent a time machine -

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which is not possible at the moment! -

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you'll have to learn from your mistakes.

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So let's hope today's buyers didn't make too many mistakes.

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Let's see how they did.

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'I'm in Folkestone in Kent to see

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'a ground-floor flat that's exercising my patience.'

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If you can get one that fits, perhaps. That's a mat.

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HE GROWLS IN FRUSTRATION

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'I had my own form of exercise in mind

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'at this former depot in Milton near Stoke-on-Trent.'

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Bit of a gym. Bit of circuit training.

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And a full circuit of this three-bed detached house in south London

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might be too much for Lucy, because she's hitting...

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A wall, right there!

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All these properties have been sold at auction,

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and we'll find out who bought them and what they paid

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when they went under the hammer.

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Sold, 304, well done.

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Folkestone in Kent is a seaside town

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that used to be a small fishing village.

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But by the 1840s,

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it had become a departure point for the steamers heading to France.

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These days, travellers can catch the train via the Channel Tunnel

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to the Continent and beyond.

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Well, the flat I'm here to see is situated close

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to Folkestone Central train station,

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and that has very high-speed trains into the centre of London.

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So this is actually commuter territory, perhaps,

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in which case a two-bedroom flat with a guide price of

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£110,000 to £115,000 sounds like a very, very attractive opportunity.

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# She said, "I don't blame you, I'd do the same"

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# Opportunity knock-knock-knocks Open the door... #

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So what's on offer? Oh, I tell you what.

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You could dramatically improve the first impression straightaway by

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changing the door to something a bit prettier. Or at least painting it.

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But through the door...

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If you can get one that fits, perhaps. That's a mat.

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-HE GROWLS IN FRUSTRATION

-I'll leave that for a minute.

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Through the front door into the...

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Excuse me for two seconds, dear reader.

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Get out the way! Thank you.

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Anyway, really nice entrance area, really big,

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which sets the scene for what is hopefully a really good-sized flat.

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Certainly, bedrooms - you've got one bedroom there,

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a really big bedroom there.

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Obviously you've got some kind of central heating, which is good.

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Honestly, these entrance areas, when they're like that,

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they just really just affect the whole feel of a house,

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houses AND flats, so that's a really good thing.

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Kitchen, well, that doesn't disappoint. It's a good size.

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Lots and lots of light, lots of windows.

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Now, clearly, the units are very dated.

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This whole thing's probably maybe been changed once

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in its life since it was built in probably the 1970s.

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And that era of flat definitely has a few things going for it,

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-one of which is the solidity...

-SOLID BANGING

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Wow, what a great noise that is!

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..the solidity of the construction, so solid walls,

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none of your sort of stud partitions, which is really great.

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Anyway, into the main living area in the flat.

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And as you can see, again loads of light coming in from these massive

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windows, a really good-sized space.

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It's rare, I think, to find a flat

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that immediately ticks so many boxes.

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This is a great place. You could imagine living here,

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it's in a good spot. Yeah!

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Brilliant!

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'This flat is so bright and airy and has a long lease of over 900 years,

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'so it's almost without a blemish.

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'Almost.'

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Well, in this pretty spacious flat,

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the only bit that lets it down is the bathroom, because it's not huge.

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And it's accessed via this...

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very dated sliding door.

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The good news is, just behind there, there is a large cupboard.

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And although in flats you don't really want to lose storage space,

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I think get rid of that cupboard, increase the size of the bathroom,

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give yourself a proper-sized bath and then everything just works.

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'The great thing about this flat is that it also comes with a garage,

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'so if you did lose that cupboard,

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'you could have some extra storage space there.

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'But this is a leasehold property,

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'so getting permission to knock walls about

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'might be a bit more hassle than it's worth.

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'Something else that could be a pain are these.'

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Now, the windows are definitely a big feature in this flat.

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Absolutely amazing, throws all this light in here.

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But as you can see, one of them has got a bit of a problem.

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And this is something which happens on older double glazing.

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You get this kind of...

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well, condensation inside the unit.

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Well, clearly, that is a bit of a problem,

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because you certainly don't want that.

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'Erm, so, what to do?

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'Specialist companies can replace the glass

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'or inject a drying agent into damaged units and reseal them.

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'If they are beyond saving,

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'you would have to replace them and budget for that.'

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# Steamy windows... #

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Someone who won't be talking hot air

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is the local estate agent that we've asked along.

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As this flat comes with a garage,

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how much of a bonus is that in this location?

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Parking is a little bit compromised, because it's permit basis, so...

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or they just have an hour's parking.

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So to have a garage, whether people use it for their vehicle

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or indeed additional storage, is a real benefit to the property.

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And what about the flat itself?

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It's a very well-proportioned apartment.

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Obviously, being ground floor

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is going to be a really good benefit to a lot of people.

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It does require some updating, but a lot of it is cosmetic.

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So I think once all of it is improved,

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it will be a really super property.

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So, what could this flat, guided at 110,000 to 115,000,

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be worth when renovated?

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I think in terms of the value of the property,

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you'd be looking at about £165,000 to £170,000.

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Well, it's not often you come across a flat like this that's so instantly

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appealing and, when you go into it, doesn't feel claustrophobic.

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It feels light, it feels airy.

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It needs a bit of work, obviously it needs modernisation,

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but I think there's money to be made by doing that.

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And, you know what,

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when somebody came to buy it off you in the future,

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they would walk in and have the same reaction as I did.

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Lovely flat. Let's see who bought it when it went under the hammer.

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Two-bedroom flat with a garage. It's convenient for the town centre.

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So what are you going to start me on that one? £100,000 do I see?

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100? £100,000 I've got.

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100 I've got. And five now, if you like.

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105,000 I'm bid.

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110, if you like. 110 I'm bid.

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112 now, if you wish.

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112. 112.

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As this was one of the early lots,

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this meant that there was quite a lot of interest in this flat.

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We re-join the bidding at 138,000.

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At 138. At £138,000, then, I have for the first time.

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138,000 to the original maiden bidder for the second time.

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Third and final time. If nobody...

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140 I've got. 142, sir.

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141. 142. 142, if you like. 142, if you like.

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At £141,000, then, I'm selling for the first time...

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142. 143.

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144. 144?

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No? At £143,000, then, for the first time again.

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143 for the second.

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Third and final time, are we all done? 143,000.

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Yours at 143. Well done, sir. T407.

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'The successful bidder, paying 143,000 for this lot, was Mike.

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'He came along to tell me why he bought this ground-floor flat

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'and what he planned to do with it.'

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-Mike, great to meet you.

-Hi, how are you?

-Very good.

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-Congratulations!

-Thank you.

-Nice flat.

-It is, isn't it?

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Yeah, really light and airy and, you know, just...

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-It's a really nice flat. Presumably that's why you bought it.

-Yeah.

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Location. It's quite close to the seafront and it's quite close to the

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-station, as well, so...

-Right.

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-Yeah.

-So why did you buy it, other than those things?

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What's the purpose of it?

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Good price.

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Erm, to do up and to sell on, hopefully.

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-So...

-And what was it that you particularly liked about it?

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I think it's, for me, because it's going to be my first development...

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..it's quite a simple one to do.

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So it's new kitchen, new bathroom, windows to be sorted.

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-But it's all fairly sound.

-So, you say this is your first project.

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What's tempted you into doing this now?

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I've always fancied doing it

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and wanted to basically start a property career.

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So this is just... I thought I'd like to buy in London,

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but I can't afford that.

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So looking out,

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looking all round the south, and this one ticked all the boxes.

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-Yes.

-So...

-Is this your background, is this what you do?

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Er, no. I've done quite a few different things.

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I just fancied having a go at this...

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-OK.

-..to be fair, so... No, I do extra work.

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-Extra?

-Yes.

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-Film and TV.

-Oh, wow.

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How do you get into being an extra, then?

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I basically replied to an advert a long time ago for an extra to be in

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-Les Miserables.

-What, the stage or the film?

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-The film.

-Oh, right.

-And from there,

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kept me on the books and more things have come through from there,

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so, yeah. It could be anything. I could have a phone call to be...

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I mean, I've been a pirate.

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-You've been a pirate?

-I've been a pirate!

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-Brilliant.

-Yeah, so...

-Gosh.

-Very varied.

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So do you get your name up on the credits?

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-No!

-Oh!

-Hopefully in the future if I do something, but, yeah.

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So, in my mind it makes property developing

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sound a bit boring in comparison!

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If I can balance it and do this and also do the

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background stuff and whatever, it's great, life's good.

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I think for fun, we should put Mike in a starring role.

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For starters, let's see that walk-up again.

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Only this time, with some different music.

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MUSIC: Little Green Bag by George Baker

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And little film effect...

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There we go, much better.

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# Yeah... #

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Inside, it's time to knock up the tension for a Hammer walk-around.

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DRAMATIC MUSIC

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Feel the excitement!

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Feel the emotion!

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Feel the wall for damp!

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And of course, Mike gets a credit for this.

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But enough silliness, back to the task at hand

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and a different kind of credit.

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-Budget for this.

-Yes, yeah.

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I've allowed 15,000.

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-OK.

-So, I'm hoping to come under that.

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So that's kitchen, windows, bathroom and everything throughout.

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I'm probably going to do quite a lot of it myself,

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so I'm hoping that I've overcooked the budget.

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-So...

-Right. And what kind of timescale?

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-Six to eight weeks.

-Right. And then on the market?

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-And then on the market.

-So, you paid 143 for it.

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So, add in your 15-grand budget, takes you to about 160.

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What do you think it'll be worth once you've done all that?

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-I'm hoping 180-ish.

-OK.

-Yeah, 170, 180.

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-Right, so maybe 20 grand in it.

-Yeah.

-Then move on to the next one?

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-Yeah.

-Yeah? Carry on.

-So, yeah.

-Are you looking forward to it?

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-I am. I can't wait, actually. I really can't wait.

-Good.

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I've got some friends that want to get involved as well,

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-so...

-Oh, great.

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I think it will be fish and chips and bottles of wine.

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That's the way to go! Well, listen, congratulations.

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-Fantastic.

-Good luck. I shall look out for you in films.

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-Yes! I'll wave.

-And now you really have hit the big time.

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-Indeed!

-Now you're on Homes Under The Hammer.

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-Too right, too right.

-And you're not an extra, you got a starring role!

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-Ta-dah! Fantastic.

-Really lovely to meet you.

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Lovely to meet you. Cheers.

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Well, yes.

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Mike going from bit part to starring role

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on his first property renovation.

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And a great flat to take on.

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I can't wait to see how he transforms it.

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You can find out later in the show.

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The Caldon Canal runs through the Milton area of Stoke-on-Trent.

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Opened in 1779,

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the canal was originally built to carry limestone to Stoke potteries.

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While the 1950s saw the end of commercial use

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and a period of disrepair,

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it has found a new lease of life in recent decades as a cruising canal,

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taking boaters on a journey through the area's industrial past.

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Just a two-minute drive from the canal

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is the auction lot I'm here to see,

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a former council depot consisting of two buildings over 0.22 acres.

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It has a guide price of £35,000 plus,

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and it's not your average Hammer lot.

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But I'm going to have a look.

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OK, so it's a commercial building...

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which doesn't seem to be in bad condition.

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Maybe a few minor repairs on the roof and on the walls.

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But depending on what your business is, maybe a bit of storage,

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maybe you could store your truck in here and all its tools.

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It could be used for several kinds of businesses.

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Maybe you could store your landscaping tools in here, as well.

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Or even go back into my genre, when I was a little bit fitter.

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Maybe line the walls, bit of flooring.

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Maybe you could have a boot camp in here, bit of a gym.

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Bit of circuit training. I'm a bit too old for that now,

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so I'm going to have a look round the back, see what else I can find.

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# Witness the fitness

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# The Cruffiton liveth

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# One hope, one quest... #

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Walking out of here was exactly what the council groundworks team did.

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But it looks like it's been abandoned

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for as long as my fitness regime.

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Into the second unit, which is a bit of a mess.

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From what I can see, it has a toilet,

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a back room, and I would imagine this would have been the canteen

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or kitchen area. But it's...

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it's all a bit... It's been destroyed in here.

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You would have to spend a bit of money turning this round,

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and it's nowhere near the same condition

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as the first unit that we've already looked at.

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And it would eat into your budget.

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But this lot has an ace up its sleeve. Follow me and I'll show you.

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# Walk this way

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# Talk this way

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# Walk this way! #

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The beauty of this whole lot is this plot here.

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There's more than enough space to get two houses on here,

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obviously subject to planning.

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You would have to consider the electricity and these trees as well,

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that you might have to factor the cost of that into your budget.

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But whoever gets this whole, the whole lot and this here,

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could be onto a winner and a nice reward.

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In fact, dump the boot-camp idea.

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And why not demolish those sheds and build even more houses?

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However, before you give them the boot,

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even if removing this electricity supply pole is allowed,

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it could mean a very high charge, maybe even going into thousands.

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That needs to be taken into consideration,

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because trying to sell a house with this as a garden feature could prove

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a bit of a shocker.

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# Well, it's a shock, shock... #

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It's also a good idea to get the opinion of a local estate agent.

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They should be able to give you an overview of the area to see if it's

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even worth building houses here.

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So here's one we invited along for his views.

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So, basically, the site is located next to a public park.

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And it's on the edge of Milton village,

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which is a very popular area here in Stoke-on-Trent

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with lots of shops and amenities, doctor's surgery.

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It's a really good residential area. Basically, if I'd bought the plot,

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I would seek planning permission

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for two houses in front on the green side.

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And I would further look to demolish these outer buildings to

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probably build a couple of semis on here,

0:16:320:16:34

so making four houses on the site in total.

0:16:340:16:37

There are plenty of residential properties in this location,

0:16:400:16:43

so it does seem a bit of a no-brainer.

0:16:430:16:46

And four houses are definitely better than two,

0:16:460:16:48

planning permission allowing, of course.

0:16:480:16:50

So let's look at the numbers. What could two detached houses sell for?

0:16:500:16:54

If somebody was to develop two separate three-bedroom properties

0:16:550:16:59

at the front of the site,

0:16:590:17:01

they are looking at a value around the 170,000 per unit,

0:17:010:17:05

giving a total of 340,000.

0:17:050:17:07

And with the agent valuing the potential semidetached properties

0:17:090:17:14

at 140 grand each, that could bring a total return here

0:17:140:17:17

to a very respectable 620 grand.

0:17:170:17:21

And with that guide price of only £35,000 plus,

0:17:210:17:24

I think this could be a great venture.

0:17:240:17:26

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

0:17:260:17:28

We'll say it's 25 to start me.

0:17:290:17:30

25, as I say, to start.

0:17:330:17:34

20, then. We're going to go 20. Cheap enough at that for a site.

0:17:340:17:38

20 to start. 20 to it there. At £20,000.

0:17:380:17:41

21 can I see now?

0:17:410:17:43

At £20,000. 21. 22, sir, 22.

0:17:430:17:47

23. 24.

0:17:470:17:50

The bids soon flew past the guide price of £35,000 for this lot.

0:17:500:17:55

Some bidders fell away. We re-join the bidding at £61,000.

0:17:550:18:00

If not, £61,000 for the first time.

0:18:010:18:04

Right in the corner, go on, then. 62.

0:18:040:18:08

63. 64. 65.

0:18:080:18:11

66. 67.

0:18:110:18:14

68. 69.

0:18:140:18:15

Shaking his head.

0:18:150:18:17

Still with you, sir. 69, in the aisle at £69,000.

0:18:170:18:21

70 anywhere else now?

0:18:210:18:24

New bid at 70.

0:18:240:18:27

71. 72. 73.

0:18:270:18:30

74. 75. 76.

0:18:300:18:33

77. 78.

0:18:330:18:36

No? At £78,000 standing, then.

0:18:360:18:39

At £78,000. 79 anywhere else?

0:18:390:18:43

If not, £78,000 for the first time.

0:18:430:18:47

£78,000 for the second time.

0:18:470:18:50

79, back in. Cost you 80 now, sir.

0:18:500:18:53

No?

0:18:550:18:56

79, then. In the aisle, then, at £79,000. All done now?

0:18:560:19:00

£79,000 in the aisle, no mistake at 79.

0:19:000:19:04

Bought it, sir. Well done.

0:19:040:19:06

'Paying more than twice the £35,000 guide price was Justin.

0:19:060:19:11

'He's renovated some residential property

0:19:110:19:13

'but focuses more on commercial property.

0:19:130:19:16

'He rents out single units for small businesses,

0:19:160:19:19

'a builder's yard and even a children's nursery.

0:19:190:19:22

'So I started with the obvious question.'

0:19:220:19:25

Justin, nice to meet you. Congratulations.

0:19:250:19:27

-Thank you very much.

-And you normally do commercial?

0:19:270:19:29

-Yeah.

-What's your ideas? Now you've got it, what's your ideas with this?

0:19:290:19:32

-Are you going to do the same sort of thing?

-Well, now I've looked at it,

0:19:320:19:35

I'm not so impressed with it,

0:19:350:19:37

because I only had one look in the dark

0:19:370:19:39

and I thought it was a bit better than it was.

0:19:390:19:41

But having had some planners look at the plot of land,

0:19:410:19:45

they're saying I could do more with it than I thought I could.

0:19:450:19:47

So I'm more interested in doing something with the residential now,

0:19:470:19:50

and then possibly in 12 months or so I may attempt

0:19:500:19:52

to put some houses on this or something, as well.

0:19:520:19:55

OK, so you're going to go residential.

0:19:550:19:57

-Yeah.

-What are you going to do? Tell us exactly what you're going to do,

0:19:570:19:59

because you've got a little bit more than you expected.

0:19:590:20:02

Well, when I first spoke to the planners,

0:20:020:20:04

I said I wanted to put a three-bed detached on.

0:20:040:20:06

And looking at the size of the plot, I thought that's all I'd get on.

0:20:060:20:10

But he looked at it and he said

0:20:100:20:11

I could get easily two three-bed detached on

0:20:110:20:13

with two parking spaces for each and big enough gardens etc.

0:20:130:20:17

So I was quite pleased with that.

0:20:170:20:19

And that's without this bit, this is just the greenery bit.

0:20:190:20:22

What are you going to do with this?

0:20:220:20:23

Well, hopefully put one or two on this after.

0:20:230:20:26

'Justin hopes that if he can build the first two,

0:20:260:20:28

'they will help him finance the next stage.

0:20:280:20:31

'For the first stage, though,

0:20:310:20:32

'he's already had some outline plans drawn up.

0:20:320:20:35

'Part of this site backs onto a children's play park,

0:20:350:20:38

'so that might be one of the issues that dictate what planners say.

0:20:380:20:42

'This is Justin's first new-build project,

0:20:420:20:45

'but he won't be tackling it on his own.'

0:20:450:20:47

I've got a friend of mine who's a very good builder.

0:20:470:20:49

He won the Bricklayer of the Year competition years ago when he was a

0:20:490:20:52

teenager. He's a good lad, he is. And he does all building work.

0:20:520:20:55

He does everything himself. He labours for himself,

0:20:550:20:57

does everything, and he's going to build them.

0:20:570:21:00

I'm going to help him occasionally.

0:21:000:21:02

So to have one man working on your project for you and you'll come and

0:21:020:21:05

-oversee it to make sure he's...

-And help him a bit.

-And help him, yeah,

0:21:050:21:08

to get it how you want it done.

0:21:080:21:10

How long is it going to take one person to get what you want done?

0:21:100:21:13

Well, I don't see any reason why it shouldn't take

0:21:130:21:16

more than six to eight months.

0:21:160:21:18

As one person? That's a lot of work for one person.

0:21:180:21:21

-Well, I'll be helping him a little bit.

-Yeah.

0:21:210:21:24

Got to clarify that "help a little bit" more for us!

0:21:240:21:27

Well, more than a little bit. I'll be labouring for him, but...

0:21:270:21:29

-So you don't mind getting stuck in yourself?

-No, I don't mind, no, no.

0:21:290:21:33

It will take more than hard labour to build two houses here.

0:21:330:21:37

It will take hard cash, too.

0:21:370:21:39

Justin hopes to get the building work

0:21:390:21:41

on the first two houses done for 100 grand,

0:21:410:21:43

which does not seem like a lot.

0:21:430:21:46

But with his builder mate Wayne and Justin doing the work themselves,

0:21:460:21:50

this could keep the cost down.

0:21:500:21:52

It could also be handy that building runs in the family.

0:21:520:21:56

Well, my grandad was a builder,

0:21:560:21:58

quite a large company in the '40s, '50s,

0:21:580:22:01

'60s and '70s,

0:22:010:22:03

and he built quite a lot of council estates and schools etc.

0:22:030:22:06

But when my dad was born, he built two roads just up in Sandyford,

0:22:060:22:11

one called Russell Road and one called Russell Close.

0:22:110:22:13

And they were named after my father.

0:22:150:22:17

And when I was born, my father was into building,

0:22:170:22:20

and he built somewhere in Porthill a cul-de-sac

0:22:200:22:22

called Justin Close after me.

0:22:220:22:24

So I'm hoping to name these Amy Rose Cottages after my daughter.

0:22:240:22:30

-That's fantastic!

-That's the idea, if I can get away with it.

0:22:300:22:33

'It must be pretty special having a street named after you.

0:22:330:22:36

'Dion Drive, anyone?

0:22:360:22:38

'No? OK. The council will decide whether to approve it or not.

0:22:380:22:43

'I bet Justin's 11-year-old daughter Amy Rose

0:22:430:22:46

'will be chuffed if it happens.

0:22:460:22:47

'But will she be following in her father's property footsteps?'

0:22:470:22:51

I don't know! I'm hoping to give it up myself soon.

0:22:510:22:54

You might be able to, mate, if it keeps going like this.

0:22:540:22:57

-Oh, well, you never know, so...

-I'm sure you'll be fine, Justin.

0:22:570:22:59

-Thank you.

-I wish you all the best.

0:22:590:23:01

-Thank you very much.

-I hope it goes well.

-Thank you.

0:23:010:23:04

Justin may have got a little bit more than what he was expecting.

0:23:040:23:07

He thought he only had space for one house.

0:23:070:23:09

He's got space for two houses.

0:23:090:23:10

And on this plot here, he might get three and four, as well.

0:23:100:23:14

I think Justin's onto a winner.

0:23:140:23:16

Amy Rose Cottages could be in the making.

0:23:160:23:18

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

0:23:180:23:20

Coming up, Lucy just can't keep a lid on her excitement

0:23:220:23:25

at this three-bed detached house in south London.

0:23:250:23:29

I am such a fan of the old paint pot!

0:23:290:23:31

And in Milton near Stoke-on-Trent,

0:23:330:23:35

Justin got a bit of a shock when it came to moving a power line.

0:23:350:23:39

..and I expected quite a large bill for that.

0:23:390:23:41

Back now to the seaside town of Folkestone in Kent,

0:23:460:23:50

where I saw a surprisingly bright and airy two-bed ground-floor flat.

0:23:500:23:55

Although some of the window units were blown and would need to be

0:23:550:23:58

replaced, they did let in a lot of light to the spacious rooms.

0:23:580:24:01

And with a long lease of over 900 years,

0:24:010:24:04

this flat had a lot going for it.

0:24:040:24:06

But it wasn't perfect.

0:24:060:24:07

Well, in this pretty spacious flat,

0:24:090:24:12

the only bit that lets it down is the bathroom, because it's not huge.

0:24:120:24:16

And it is accessed via this...

0:24:160:24:18

very dated sliding door.

0:24:180:24:19

The good news is, just behind there, there is a large cupboard.

0:24:190:24:22

And although in flats you don't really want to lose storage space,

0:24:220:24:25

I think get rid of that cupboard, increase the size of the bathroom,

0:24:250:24:28

give yourself a proper-sized bath and then everything just works.

0:24:280:24:33

The pokey bathroom really was the only big negative here,

0:24:330:24:36

so I can see why Mike paid £143,000 for this flat at auction.

0:24:360:24:42

It was his first time trying his hand at property development,

0:24:420:24:45

as his main income is from work as an extra in film and television,

0:24:450:24:49

where he's played everything from pirates to policemen.

0:24:490:24:53

So do you get your name up on the credits?

0:24:530:24:54

-No!

-Oh!

-Hopefully in the future, if I do something, but, yeah.

0:24:540:24:59

So, in my mind it makes property development sound a bit boring in

0:24:590:25:02

-comparison, doesn't it?

-Well, no. If I can balance it and do this

0:25:020:25:05

and also do the background stuff and whatever, it's great. Life's good.

0:25:050:25:09

It seemed like Mike had cast the right flat for his first property

0:25:090:25:13

development. He thought he could get the work done in six to eight weeks,

0:25:130:25:17

so it's time to see if this flat is

0:25:170:25:19

ready for its premiere ten weeks later.

0:25:190:25:22

There's not a red carpet in sight, but I think Mike can take a bow.

0:25:250:25:29

The new flooring and the modern, streamlined kitchen

0:25:290:25:32

with lovely worktops are A-list,

0:25:320:25:34

and Mike has also made the best of that lovely hallway.

0:25:340:25:37

But what about the bathroom, which, although not a Hammer horror,

0:25:400:25:44

it certainly did need a remake?

0:25:440:25:46

It remains the same size, but Mike decided to give it a bigger part.

0:25:490:25:54

The changes here, it's quite dramatic.

0:25:540:25:56

We ripped everything out, started again,

0:25:560:25:59

moved the bath across to this side.

0:25:590:26:02

We were going to maybe try and pinch a bit of space from that cupboard,

0:26:020:26:05

but when we actually put the full bath in, it works really well.

0:26:050:26:08

We've got a brand-new shower,

0:26:080:26:11

new tiles, and the floor tiles I absolutely love.

0:26:110:26:14

I'm really, really pleased with it.

0:26:140:26:15

I think it's probably one of my favourite rooms.

0:26:150:26:18

The rest of the flat has been rewired

0:26:200:26:22

and redecorated in neutral colours.

0:26:220:26:24

And although as an extra Mike

0:26:240:26:26

did not get his name up on the big screen,

0:26:260:26:29

he certainly deserves credit for doing a lot of the work...

0:26:290:26:32

..as do a few other people

0:26:330:26:35

who have helped make this transformation happen.

0:26:350:26:38

Well, originally I was going to be doing a lot of the work myself.

0:26:380:26:42

And I found a guy down here called David - a big thank you to David.

0:26:420:26:47

He came in and he helped lay the floor, helped me put in the kitchen

0:26:470:26:52

and also helped put in the bathroom, as well.

0:26:520:26:54

The main person I want to say thank you to is Debs,

0:26:540:26:57

who's been here all the way through, through thick and thin.

0:26:570:27:00

She has been the filler queen,

0:27:000:27:03

painter extraordinaire, and it's been a joy to have her here.

0:27:030:27:08

It didn't all go to plan on the first take, though,

0:27:080:27:11

for Mike and Debs.

0:27:110:27:12

We'd been working quite late. We went out and had a pizza...

0:27:130:27:16

and a bottle of wine or maybe two.

0:27:160:27:18

And we came back, and I decided

0:27:180:27:20

to paint the feature wall of an olive colour,

0:27:200:27:24

which, the next morning, when we looked at it,

0:27:240:27:26

decided that I'd painted the majority of the ceiling with it.

0:27:260:27:29

So I had to basically change that,

0:27:290:27:32

and so we've gone neutral throughout now. So, lesson learnt!

0:27:320:27:36

Yes, wine and painting are not a good combination.

0:27:360:27:39

Best avoided. One of the bigger issues of this flat was those

0:27:390:27:43

double-glazed windows which looked to have failed.

0:27:430:27:46

Well, I think when I first looked at it, a lot of the windows were blown.

0:27:480:27:51

So I then assumed that they'd all have to be ripped out,

0:27:510:27:56

which is where the budget was about 3,000, 3,500.

0:27:560:27:59

That's what I'd sort of estimated.

0:27:590:28:02

And as it was, the local company down here in Folkestone came in

0:28:020:28:06

and just said no, it's just a case of actually replacing the glass.

0:28:060:28:09

And they came in at £460.

0:28:090:28:12

So overall, the original budget was 15,000

0:28:120:28:14

and I spent round about 13,500.

0:28:140:28:17

So, yeah, it's come in. And we've come in sort of within budget

0:28:170:28:21

and also within the timeframe, as well.

0:28:210:28:23

With a holiday sneaked in, as well!

0:28:230:28:25

A well-deserved holiday, as Mike has had a busy few months.

0:28:270:28:31

Also been doing some extra work whilst this has been going on.

0:28:310:28:34

So, the last one was I was an American soldier in that.

0:28:340:28:38

So... And there's...

0:28:380:28:39

I'm going to potentially be a very posh polo player

0:28:390:28:43

watching a polo match,

0:28:430:28:44

which is coming up in the next couple of weeks.

0:28:440:28:46

And there's a few others coming along.

0:28:460:28:48

So, yeah, it's a good balance. It's good fun.

0:28:480:28:51

# Film star, giving it class

0:28:510:28:55

# Living it fast tonight... #

0:28:550:28:57

Mike seems to have had good fun on the property-developing side, too.

0:28:570:29:01

Now he has grabbed the bull by the horns and done his first renovation,

0:29:010:29:05

will he do more?

0:29:050:29:07

I think, erm, I would definitely develop again down here,

0:29:070:29:10

because I've got a good team around me now.

0:29:100:29:14

But it all depends how much it's worth, really.

0:29:140:29:16

Well, it's time to find out, Mike.

0:29:180:29:20

As usual, we've asked along two local estate agents to see what they

0:29:200:29:23

think of the changes in this flat.

0:29:230:29:26

First, let's hear from the agent who saw it last time.

0:29:260:29:30

It's really well presented.

0:29:310:29:33

Obviously, nice new fitted kitchen, bathroom, all new carpets

0:29:330:29:36

throughout. So it's all ready to go.

0:29:360:29:39

The bathroom is a small space, but it's been nicely utilised,

0:29:390:29:43

well designed. The finishes are good, quality of fittings are good.

0:29:430:29:48

All in all, I think a good result.

0:29:480:29:51

Whether Mike goes for a sequel in this area

0:29:510:29:54

will depend on the outcome of the valuations.

0:29:540:29:56

So, will he make a profit on his £156,500 investment?

0:29:560:30:01

The market value for this property

0:30:010:30:03

currently would be £175,000 to £180,000.

0:30:030:30:07

In today's market, I believe this flat

0:30:070:30:09

could sell for £180,000 to £185,000.

0:30:090:30:13

That is really where I was in line with.

0:30:130:30:16

Originally, I'd sort of thought maybe 175.

0:30:160:30:19

I have spoken to another estate agent that said high 100s,

0:30:190:30:23

but it's pick a number, really.

0:30:230:30:25

And it really comes down to who would actually buy it and what price

0:30:250:30:28

they're prepared to pay. So, no, that's ideal, that's fabulous.

0:30:280:30:32

Getting that top valuation of 185,000 would mean a pre-tax profit

0:30:320:30:36

of 28,500.

0:30:360:30:39

Has he enjoyed this Folkestone project?

0:30:390:30:41

It's been great.

0:30:430:30:44

I mean, I think it's been ideal because of the weather, as well.

0:30:440:30:49

To finish here and then go down to the sea and go for a swim

0:30:490:30:52

has been awesome. So, no, it's been great. Really good experience.

0:30:520:30:55

This is Norbury in south London.

0:30:590:31:02

It's an area that has plenty of green spaces,

0:31:020:31:05

local amenities and a train station

0:31:050:31:07

which takes you into central London in 20 minutes.

0:31:070:31:10

The first station was built in the 1800s.

0:31:120:31:15

Passengers would disembark here to see the horse races that were held

0:31:150:31:19

in the area.

0:31:190:31:20

Well, the races may have finished,

0:31:200:31:22

but plenty of people are still jockeying for position

0:31:220:31:24

in the property market that there is in this popular south London spot.

0:31:240:31:29

I'm here to see a three-bed detached house,

0:31:300:31:32

and it had a guide price of £450,000 plus.

0:31:320:31:36

Now, it looks a little bit dwarfed

0:31:360:31:38

by its large neighbours on either side,

0:31:380:31:41

doesn't it?

0:31:410:31:42

# Is there anybody home who wants to have me

0:31:420:31:46

# Just to love me?

0:31:460:31:48

# Stuck in the middle... #

0:31:480:31:50

Wow, that's a lovely, big,

0:31:510:31:53

heavy front door with some beautiful stained glass.

0:31:530:31:56

I mean, so much more character on the inside

0:31:560:31:59

than what I was expecting. You've got all this lovely wood panelling,

0:31:590:32:01

although it's very dark and oppressive.

0:32:010:32:04

I am such a fan of the old paint pot!

0:32:040:32:06

If you could paint that, it would really lighten the place up.

0:32:060:32:09

And, you know, painted wood can look fantastic.

0:32:090:32:12

That's a fabulous staircase.

0:32:120:32:13

Look at that. It's got a real '30s feel to it in here.

0:32:130:32:16

And again, look. Lovely, solid wood doors.

0:32:160:32:20

You can really imagine what that would be like with a lovely layer of

0:32:200:32:24

paint over it. Now, I can hear some of you going, "What?

0:32:240:32:27

"You should stain it and keep it as wood!"

0:32:270:32:29

But I think that would look really finished once painted.

0:32:290:32:32

Again, you've got a nice little fire surround up here.

0:32:320:32:35

I'm not quite sure about the beams above my head.

0:32:350:32:38

They don't add too much character,

0:32:380:32:39

and it sort of gives a bit of a stripy feeling in here.

0:32:390:32:42

So I think I'd probably be more inclined

0:32:420:32:44

to board that whole ceiling over.

0:32:440:32:46

But there's a lot you can work with in this room. It's spacious.

0:32:460:32:50

I mean, you've already got double-glazed windows here.

0:32:500:32:52

They're not my favourites, uPVC, but they're in and they look quite new,

0:32:520:32:56

so maybe it's best to leave them. So, so far so good.

0:32:560:32:59

A fantastic space, it's got character,

0:32:590:33:02

and I can really imagine a family wanting to live here.

0:33:020:33:05

Lucy is spot-on there. This is a sizeable property.

0:33:060:33:10

Upstairs, there are two good-sized bedrooms and a box room,

0:33:100:33:14

and there is a bathroom and a separate loo.

0:33:140:33:17

Probably best knocked into one.

0:33:170:33:19

But Lucy has discovered some more pressing layout issues downstairs.

0:33:190:33:23

This is where it goes a little bit wrong.

0:33:250:33:27

So, you've got a bit of an interim area.

0:33:270:33:29

There's a loo in there, and then you walk through into the kitchen.

0:33:290:33:33

Erm, and it's just a little bit clumsy.

0:33:330:33:35

You've got the boiler there, really small space.

0:33:350:33:38

So I'm not excited by the kitchen at all.

0:33:380:33:42

And then you've got a wall right there.

0:33:420:33:44

So, a wall there,

0:33:440:33:46

and there's a wall here and another sort of corridor through here,

0:33:460:33:49

and then you've got this rather nice room,

0:33:490:33:51

which is, I think, the original part of the house.

0:33:510:33:54

And then you've got this area through here, which is like a cold,

0:33:540:33:57

hard, tiled floor, maybe a dining room,

0:33:570:34:00

but you've got another wall here.

0:34:000:34:02

I know I'm going on a bit, but it just doesn't flow.

0:34:020:34:05

It really doesn't work for me,

0:34:050:34:07

and it feels very lovely and original

0:34:070:34:10

down the front part of the house as you walk in, very '30s.

0:34:100:34:13

And at the back, well, you know...

0:34:130:34:14

Look, these sort of French doors leading out to the garden.

0:34:140:34:17

The character just stops

0:34:170:34:18

and it just doesn't seem to connect with the house.

0:34:180:34:22

Yeah? I'm going to have a look out in the garden.

0:34:220:34:24

Well, no! I won't be walking out to the garden from here

0:34:270:34:29

and that's because...

0:34:290:34:31

there's a six-foot drop!

0:34:310:34:33

Loads of bushes in my way,

0:34:330:34:35

and basically it's just me and a Juliet balcony.

0:34:350:34:38

I mean, it's such a shame that you

0:34:380:34:39

can't have direct access out to this garden!

0:34:390:34:43

# Romeo and Juliet, they never felt this way, I bet

0:34:430:34:49

# So don't underestimate my point of view... #

0:34:490:34:56

It's not fair Verona where we lay out our scene, of course,

0:34:560:35:00

but lay a veranda out here and you could have direct access to outdoor

0:35:000:35:04

space without having to go through the kitchen.

0:35:040:35:07

What could also work would be to take a leaf

0:35:070:35:10

out of the neighbour's book and extend.

0:35:100:35:12

But what kind of extension would give the best return here?

0:35:120:35:15

We asked a local estate agent along to give us his advice.

0:35:170:35:20

This specific area, people look for between three and five bedrooms.

0:35:230:35:27

The property prices are a bit higher.

0:35:270:35:28

Adding a bedroom or two would

0:35:280:35:30

drastically improve the value of the property.

0:35:300:35:33

It sounds like a no-brainer.

0:35:330:35:35

However, there might just be a catch.

0:35:350:35:38

Looking around at this property,

0:35:380:35:39

I think there could be some scope for extension,

0:35:390:35:42

although I think it would be difficult

0:35:420:35:43

to get maybe a room or two in the roof,

0:35:430:35:45

just because of the way it's shaped.

0:35:450:35:47

So, an attic conversion might be out of the question.

0:35:470:35:50

So what does the agent think the best option would be?

0:35:500:35:53

I think for this specific property, keep it as a three-bedroom,

0:35:530:35:57

and just make it as best as you can,

0:35:570:35:58

good finishes, kitchen, bathroom etc, and I think that'll be fine.

0:35:580:36:02

The agent thinks that without an extension,

0:36:040:36:06

this house once renovated could sell for anything between £575,000 and

0:36:060:36:11

£590,000, depending on the level of finish.

0:36:110:36:15

But adding a nice, large single-storey extension

0:36:150:36:18

and spending your money on high-spec finishes

0:36:180:36:21

could be the best way to maximise your profit.

0:36:210:36:24

Extended and renovated to a very high standard,

0:36:240:36:26

it would sell for approximately £650,000,

0:36:260:36:29

possibly pushing the £675,000 mark.

0:36:290:36:32

Well, this is a good, solid property in a popular spot.

0:36:320:36:35

It's got character, and once you've sorted out that layout, well,

0:36:350:36:39

I think it could be a really lovely home for someone.

0:36:390:36:42

So, who saw the potential? Let's head to auction and find out.

0:36:420:36:45

Three-bedroom detached house in need of modernisation.

0:36:470:36:50

Offered with vacant possession.

0:36:500:36:51

Who'd like to give me a start on this? 470 anywhere?

0:36:510:36:55

Somebody want to have a crack at this?

0:36:550:36:56

Thank you. 470 I've got.

0:36:560:36:59

Straight ahead, thank you. 475.

0:36:590:37:01

480. 485.

0:37:030:37:06

How much? 482.

0:37:070:37:09

484.

0:37:090:37:10

The bidding wasn't exactly frantic for this lot,

0:37:100:37:13

but there were still a few interested parties.

0:37:130:37:17

We re-join the action at 496,000.

0:37:170:37:21

If not, 496, standing up on my right at the back.

0:37:210:37:25

That's against you sitting down at the back on my left.

0:37:250:37:27

Anybody else? 498?

0:37:270:37:29

498. 500, yeah?

0:37:290:37:31

500. 502.

0:37:310:37:33

No? If not, 500 for the first, 500 for the second.

0:37:330:37:39

500 for the third and final time.

0:37:390:37:41

Sold, 500.

0:37:410:37:43

The successful bidder, paying £500,000 for this property,

0:37:430:37:47

was Luca and his dad Paul.

0:37:470:37:49

They have bought this as a business investment together.

0:37:490:37:52

Luca works for one of his father's companies

0:37:520:37:55

and also runs his own developments.

0:37:550:37:57

Luca used to be a League Two footballer

0:37:570:37:59

but kicked that career into touch

0:37:590:38:01

and is now tackling property development.

0:38:010:38:03

He came along with his friend Howard

0:38:030:38:05

to tell Lucy about their tactics for this '30s house.

0:38:050:38:08

Guys, congratulations. Luca, lovely to meet you.

0:38:090:38:11

-Nice to meet you, too.

-Howard.

0:38:110:38:13

-And you.

-Now, Luca, it was just you at the auction.

0:38:130:38:15

-Is this your property?

-It is indeed, yes.

0:38:150:38:18

I've been to a couple of auctions previous.

0:38:180:38:20

-Yeah.

-A lot of money exchanging hands etc.

0:38:200:38:23

-Yeah! Just a bit!

-Yeah, so...

0:38:230:38:25

We were going to bid for a couple of properties before this one came up.

0:38:250:38:29

I think we've had a bit of a touch,

0:38:290:38:31

that we didn't get them and we've managed to secure this one.

0:38:310:38:33

Do you think this was the right property for you?

0:38:330:38:35

Certainly, yeah. I mean, we're sort of building in stepping stones.

0:38:350:38:38

So, we've done a couple of flats together and a house in Leatherhead.

0:38:380:38:43

So this is sort of the next step for us.

0:38:430:38:45

And, yeah, we're extremely happy, over the moon to get this one.

0:38:450:38:48

-Looking forward to getting started.

-Tell me a bit about the both of you.

0:38:480:38:51

Now, do you work together as a team? Howard, what do you do?

0:38:510:38:54

Well, I'm basically the project manager, so I do a lot of the work,

0:38:540:38:57

but I oversee it as well.

0:38:570:38:59

And, yeah, it's been going quite well

0:38:590:39:01

so far on the previous projects.

0:39:010:39:03

So, are you two mates? Do you stem from a long friendship?

0:39:030:39:06

-Friends about eight years now.

-Yeah, eight or ten years.

0:39:060:39:09

Used to play football together,

0:39:090:39:10

so then obviously going out when we were younger a lot on the town,

0:39:100:39:13

and so we built, obviously, built a good relationship.

0:39:130:39:17

And we've started working together now, so that's going really well.

0:39:170:39:20

-Is it a good, fun day at work?

-Yeah, brilliant.

-Is it?

0:39:200:39:23

We love going to work, to be honest with you.

0:39:230:39:25

And do you socialise together?

0:39:250:39:27

-Oh, we live together.

-Yeah, we live together as well!

0:39:270:39:29

You're planning your nights out while you're working!

0:39:290:39:31

Exactly. Yeah, yeah.

0:39:310:39:33

We're here, seeing what we can do on a Saturday night.

0:39:330:39:35

We play football together, as well, so...

0:39:350:39:37

-Can't get rid of him.

-You're now project-managing all the properties,

0:39:370:39:41

-you're buying them.

-Yeah.

-We had a good team, didn't we?

0:39:410:39:44

Yeah. I mean, we've had a team for about a year now,

0:39:440:39:47

so we all sort of have our input, get everyone in together,

0:39:470:39:50

all the tradesmen, and we sort of go from there, really.

0:39:500:39:54

So you're actually on-site, both of you, every day?

0:39:540:39:56

-Me. I'm here every day.

-So, tell me what you have to do, Howard.

0:39:560:40:00

Well, I do a lot of the work myself. Tiling's my main trade,

0:40:000:40:03

but I've done property development for a few years.

0:40:030:40:06

So I know a fair bit about it. And...

0:40:060:40:09

..the contractors we've had in before,

0:40:100:40:12

they're all friends, as well.

0:40:120:40:13

So, we all work together well as a team,

0:40:130:40:16

and I oversee them, make sure they do it all properly,

0:40:160:40:18

but I trust them, they know exactly what they're doing

0:40:180:40:20

and I do every bit of work that

0:40:200:40:21

-I can, basically.

-So, are you both excited about starting this project?

0:40:210:40:25

-I'd say this one more than any.

-Yeah, definitely.

-Best one so far.

0:40:250:40:28

So, why is this the best one so far?

0:40:280:40:29

What's got your juices flowing about this house?

0:40:290:40:31

-Potential in it.

-Potential in it, definitely.

-Yes!

-The area...

0:40:310:40:35

is a busy area, it's sought after, so there's a lot we can do with it.

0:40:350:40:39

What changes can you make

0:40:390:40:40

and how can you add value to a property like this?

0:40:400:40:43

-We like... We like the entrance, don't we?

-Yeah, certainly,

0:40:430:40:46

the old traditional front door with the stained glass,

0:40:460:40:49

nice timber panels as you come in.

0:40:490:40:51

That's... All them features we're going to keep,

0:40:510:40:53

certainly at the front of the house.

0:40:530:40:55

Starting with the windows, we are going to keep it traditional.

0:40:550:40:57

We're going to go with the flush fit in the casements.

0:40:570:41:00

-Are you?

-Yeah.

-Really?

-Yes.

-I'm really surprised.

0:41:000:41:02

I'm really glad about that, because they're my favourite,

0:41:020:41:05

but they're really expensive.

0:41:050:41:07

They are. I mean,

0:41:070:41:09

as a family, we own two window companies.

0:41:090:41:11

-Oh, there you go.

-It's going to be no cost to us.

0:41:110:41:13

-Not quite as expensive.

-Fantastic! Bingo!

0:41:130:41:16

Exactly, it's a bit of a touch... It's a touch for us to...

0:41:160:41:20

-So no uPVC in sight. That's going.

-Yeah.

-You can have lovely wooden

0:41:200:41:24

-timber casements.

-Exactly.

-Oh, fantastic.

-Timber casements

0:41:240:41:27

-and then aluminium bifolds towards the back of the property.

-So new

0:41:270:41:31

-windows and doors.

-Yeah.

-Anything else?

-Kitchen's obviously going to

0:41:310:41:35

have to be redone. We're thinking of putting an island in the middle,

0:41:350:41:38

-aren't we?

-Yeah.

-And a new bathroom suite.

0:41:380:41:41

That's all going to be needed.

0:41:410:41:42

So, let's talk about the downside, for me.

0:41:420:41:44

As you walk through the front door,

0:41:440:41:47

all fantastic, and then it's a bit of a rabbit warren.

0:41:470:41:49

-It doesn't really work.

-Those walls,

0:41:490:41:51

as you come through the front, obviously,

0:41:510:41:53

like you say, a rabbit warren.

0:41:530:41:54

They get in your way a bit. And we want the light coming through

0:41:540:41:57

from the front door, so we're going to knock a few walls

0:41:570:41:59

through there so it's much easier access to the kitchen.

0:41:590:42:03

And that'll be the utility and toilet area to your right,

0:42:030:42:06

and then, as for out the back,

0:42:060:42:08

we're going to put a balcony out through the doors,

0:42:080:42:10

aren't we? South facing, as well,

0:42:100:42:12

so they get the nice bit of sun on the balcony, as well.

0:42:120:42:15

So, what sort of budget have you got to do the work here?

0:42:150:42:17

Because it sounds like extensive plans.

0:42:170:42:19

You're going to spend a bit of money on the place.

0:42:190:42:21

I'd say we're probably looking at roughly around 50 grand.

0:42:210:42:25

-That sort of thing.

-£50,000.

-50, 60 grand.

0:42:250:42:27

How long do you think it's going to take you?

0:42:270:42:28

I think we can get this out in three, four?

0:42:280:42:30

-Yeah.

-Three to four months? You think you can turn this around?

0:42:300:42:33

So you're purely buying this up to sell it at a profit.

0:42:330:42:36

-Exactly.

-Guys, I'm so excited to see the outcome.

0:42:360:42:39

Congratulations and good luck with this project.

0:42:390:42:41

-Well done.

-Thank you very much.

-Thank you.

-Thank you.

0:42:410:42:43

So, Luca and Howard seem, well, pretty relaxed

0:42:450:42:48

and actually really excited about their latest project.

0:42:480:42:51

But will it all be as straightforward as they think?

0:42:510:42:54

Join me later in the programme and you can find out.

0:42:540:42:57

We still need to find out what's happened

0:43:000:43:02

to our two remaining properties.

0:43:020:43:04

Are they doing a Mexican wave or are they just waving goodbye to profit?

0:43:040:43:08

Let's find out how they got on.

0:43:080:43:09

Time to head back to Milton near Stoke-on-Trent,

0:43:120:43:15

where I saw a former council groundworks depot.

0:43:150:43:19

It had a large shed that was actually in good condition.

0:43:190:43:22

Around the back was a separate building

0:43:230:43:25

that housed some offices that were less so.

0:43:250:43:29

But the beauty of this whole lot is this plot here.

0:43:290:43:33

There's more than enough space to get two houses on here,

0:43:330:43:36

obviously subject to planning.

0:43:360:43:38

You would have to consider the electricity

0:43:380:43:40

and these trees, as well,

0:43:400:43:41

that you might have to factor the cost of that into your budget.

0:43:410:43:46

But whoever gets this whole lot and this here could be onto a winner.

0:43:460:43:50

The successful bidder, who paid 79 grand

0:43:530:43:56

for this lot at auction, was former

0:43:560:43:58

car salesman turned property developer Justin.

0:43:580:44:01

He normally buys and rents out commercial properties,

0:44:010:44:04

but with this, he's trying something new.

0:44:040:44:06

Well, when I first spoke to the planners,

0:44:060:44:09

I said I wanted to put a three-bed detached on.

0:44:090:44:11

Looking at the size of the plot, I thought that's all they'd get on.

0:44:110:44:14

But he looked at it and said I could get easily two three-bed detached

0:44:140:44:17

on with two parking spaces for each and big enough gardens etc.

0:44:170:44:21

So, I was quite pleased with that.

0:44:210:44:24

This was his first attempt at a new-build,

0:44:240:44:26

but construction runs in the family.

0:44:260:44:28

His grandfather and father were both builders and the family tradition is

0:44:280:44:33

to name streets on estates they've built after family members.

0:44:330:44:37

Justin planned to follow suit.

0:44:370:44:39

I'm hoping to name these Amy Rose Cottages after my daughter.

0:44:390:44:44

-That's fantastic!

-That's the idea, if I can get away with it.

0:44:440:44:46

Armed with some outline plans,

0:44:460:44:48

he was ready to negotiate with the local planning department

0:44:480:44:52

to hopefully have his builder friend Wayne

0:44:520:44:54

put up the houses in around six to eight months.

0:44:540:44:57

Now, we're back a year and ten months later.

0:44:570:45:00

Amy Rose Cottages should be a reality.

0:45:000:45:03

# But I guess that's why they say

0:45:030:45:05

# Every rose has its thorn

0:45:050:45:09

# Just like every night has its dawn

0:45:110:45:17

# Just like every cowboy sings a sad, sad song

0:45:170:45:24

# Every rose has its thorn... #

0:45:250:45:29

Sadly, the planning has been a prickly issue,

0:45:320:45:35

so Justin hasn't managed to have anything built here yet,

0:45:350:45:39

which must be disappointing.

0:45:390:45:42

Unfortunately, the council didn't like the idea that the houses both

0:45:420:45:46

weren't facing the road in a line.

0:45:460:45:49

They were talking about the frontage needed to be the same all the way

0:45:490:45:52

down the road, so they told me that they wouldn't allow it,

0:45:520:45:55

but we went ahead anyway.

0:45:550:45:57

It got refused, we went to appeal and it got refused again,

0:45:570:46:00

so now we're back to square one and we're looking at a single detached

0:46:000:46:04

house with four bedrooms,

0:46:040:46:06

which is probably where we'll end up having to go.

0:46:060:46:09

Justin did manage to do some preparation work

0:46:090:46:12

during all the wrangling.

0:46:120:46:14

Some trees have been removed, and I'm glad to see that they've managed

0:46:140:46:17

to have that electricity supply pole moved.

0:46:170:46:20

And you might be shocked at how much it cost.

0:46:210:46:24

We got hold of the electric company

0:46:260:46:28

and I expected quite a large bill for that.

0:46:280:46:31

But as it happened, they didn't charge me anything.

0:46:310:46:33

All they asked for was...

0:46:330:46:34

..to put the electric within a metre of the boundary,

0:46:360:46:39

so they had access to it and to sign a wayleave for me to put it there.

0:46:390:46:42

And they never charged me a penny.

0:46:420:46:44

# I owe you nothing

0:46:440:46:47

# Nothing, nothing at all

0:46:470:46:51

# Nothing, nothing at all, all... #

0:46:510:46:54

Well, not quite for nothing.

0:46:540:46:56

The electricity company now have an access agreement to enter the

0:46:560:47:00

property's boundary to make repairs at any time.

0:47:000:47:04

This agreement normally transfers to any future owners of the land

0:47:040:47:08

or property on it, which may put some people off purchasing it.

0:47:080:47:12

So, slow progress on the plot of land,

0:47:120:47:15

but Justin has at least been able to utilise the groundworks depot.

0:47:150:47:20

I've now converted this bit here into usable for myself.

0:47:200:47:24

I've put a toilet in it and drains etc, electric, water.

0:47:240:47:28

And it will be a good base when we eventually get planning permission

0:47:280:47:31

to build just at the side there. So, I'm happy about that.

0:47:310:47:34

With plenty of secure space to store materials and equipment,

0:47:340:47:38

the depot is an ideal base for the site, and in the future,

0:47:380:47:41

once the house is hopefully complete,

0:47:410:47:44

he intends to convert the depot into a nursery and add it to his

0:47:440:47:47

commercial rental portfolio.

0:47:470:47:49

The budget for the building of the two houses was 100 grand.

0:47:520:47:55

But how's that new plan affected his budget for a single four-bed house?

0:47:550:47:59

We're still on a similar budget, I'd imagine, because the one house

0:48:010:48:04

we're building now is going to be a lot bigger and a better spec,

0:48:040:48:07

and also the council asked us to put a brick wall

0:48:070:48:10

around the outside of the property, which will cost a few quid, as well.

0:48:100:48:13

It's time to see if two local estate agents think that his

0:48:130:48:17

new, revised plan is the way to go.

0:48:170:48:20

First, let's hear from the agent that saw it last time.

0:48:200:48:23

Well, obviously, you know,

0:48:230:48:25

currently the plans are to put a four-bedroom property on the land

0:48:250:48:28

adjacent to the building here.

0:48:280:48:31

That's probably a good plan, because the land is a substantial size.

0:48:310:48:36

Obviously, it's within a good area for residential, for families,

0:48:360:48:41

so I would think it would be a very attractive proposition.

0:48:410:48:44

The current plan for the four-bedroom detached house, I feel,

0:48:440:48:46

is a much better idea, certainly, one plot with four bedrooms,

0:48:460:48:50

and allow for the parking in the property.

0:48:500:48:52

I feel it would fit in the surroundings well

0:48:520:48:54

and certainly would be a good idea to move forward on.

0:48:540:48:57

So, it's right for the plot and the area.

0:48:570:49:00

But is it the right move financially?

0:49:000:49:02

A four-bedroom property in this location would be worth £220,000.

0:49:040:49:09

In today's market, if a four-bedroom home was built and had the usual

0:49:090:49:12

sort of layout, with four bedrooms, en suite, first-floor bathroom,

0:49:120:49:16

off-road parking, I would suggest that the property would be worth

0:49:160:49:19

around £250,000.

0:49:190:49:22

I think they're right.

0:49:220:49:23

I mean, I personally thought about 240-ish, anyway.

0:49:230:49:26

I think if the house was somewhere else,

0:49:260:49:28

you could probably get a bit more, because it's going to be a quite

0:49:280:49:31

good-spec house. But on its own, where it is, I think 250...

0:49:310:49:35

I'd be happy with that.

0:49:350:49:37

Well, a top value of 250 grand would give Justin a pre-tax profit

0:49:370:49:42

of £71,000.

0:49:420:49:44

Plus, he's got the potential income from renting the depot unit in the

0:49:440:49:47

future. But something that might be worth more than money is the chance

0:49:470:49:52

to carry on the family tradition and name it after his daughter.

0:49:520:49:55

Well, the intention originally was to build two and call them

0:49:570:50:00

the Amy Rose Cottages after my daughter.

0:50:000:50:03

That got knocked back, so I'm applying for one,

0:50:030:50:06

one house, the Amy Rose Cottage.

0:50:060:50:08

If that gets knocked back

0:50:080:50:10

then we're going to rename this shed the Amy Rose Shed.

0:50:100:50:14

I like his attitude. Be it cottage or shed,

0:50:140:50:17

a rose by any other name would smell just as sweet for Justin.

0:50:170:50:20

Back now to Norbury, where Lucy saw this charming 1930s detached house.

0:50:270:50:32

It had bags of character in the front,

0:50:330:50:35

but the ground floor at the back was less appealing.

0:50:350:50:37

It was a bit of a warren, and to say the access to the garden wasn't

0:50:410:50:45

great...well, that would be an understatement.

0:50:450:50:47

Well, no, I won't be walking out to the garden from here, and that's

0:50:490:50:52

because...there's a six-foot drop!

0:50:520:50:56

And it was going to take a fair few drops of sweat to get this old house

0:50:560:51:00

back to its best.

0:51:000:51:02

Feeling up to the challenge was Luca.

0:51:020:51:04

He spent a hefty 500 grand on this house at auction.

0:51:040:51:08

He wasn't on his own, though,

0:51:080:51:10

as his mate Howard is a tradesman and his project manager.

0:51:100:51:13

As they play football together,

0:51:140:51:16

they make a great team both on the pitch and at work.

0:51:160:51:20

-Is it a good, fun day at work?

-Yeah, brilliant.

-Is it?

0:51:200:51:23

We love going to work, to be honest with you.

0:51:230:51:25

And do you socialise together?

0:51:250:51:27

-Oh, we live together.

-We live together, as well.

0:51:270:51:29

So you're planning a night out while you're working.

0:51:290:51:31

Exactly. Yeah, yeah.

0:51:310:51:32

We're in here, seeing what we can do on a Saturday night.

0:51:320:51:35

-We play football together, as well. So...

-Yeah.

0:51:350:51:37

Can't get rid of him.

0:51:370:51:39

One thing that they did want to get rid of was that Juliet balcony,

0:51:390:51:43

so we're back eight months later

0:51:430:51:44

to see if they've managed to dump poor Juliet.

0:51:440:51:47

# You keep on giving me the hold-up

0:51:490:51:52

# You used to be my Romeo

0:51:520:51:56

# Cos you see, my dear, I have had enough

0:51:560:51:59

# Of keeping quiet about all this stuff... #

0:51:590:52:04

They have indeed.

0:52:040:52:05

Balconies and verandas do not fall within permitted development, and

0:52:050:52:09

planning has taken four months longer than they would have liked,

0:52:090:52:12

but it has been worth it in the end.

0:52:120:52:15

OK, so what we done here, we extended the wall,

0:52:150:52:18

obviously put the big bifolds in,

0:52:180:52:19

which gives you that bigger feel with the kitchen. As you can see,

0:52:190:52:23

we've added the balcony, so we've added the steels in,

0:52:230:52:26

the high-spec deck and then the glass.

0:52:260:52:28

And we didn't want to put any balustrades in,

0:52:280:52:30

so it gives you that sort of open feeling.

0:52:300:52:33

So, the outside is looking fantastic, but what about inside?

0:52:330:52:36

Let's start at the front, which had so many nice original features,

0:52:360:52:41

like the stained-glass windows and wood panelling.

0:52:410:52:43

It's bright and fresh,

0:52:460:52:47

but, sadly, the original features have gone and there are no casement

0:52:470:52:51

windows. What happened to Luca's original plan?

0:52:510:52:54

To be honest, we were going to...

0:52:560:52:57

We didn't know whether to keep the front of the house

0:52:570:53:00

a more Victorian feel.

0:53:000:53:01

However, we just thought that with the sort of light grey

0:53:010:53:05

that we've gone for and a modern look,

0:53:050:53:07

we'll just take out all the original features

0:53:070:53:09

and just go completely new everywhere.

0:53:090:53:11

This new, modern look can best be seen

0:53:110:53:13

at the back of the house in this...

0:53:130:53:15

-# Brand-new... #

-..kitchen/diner.

0:53:150:53:17

Moving the partition wall has really created space.

0:53:190:53:22

They've also added a separate...

0:53:240:53:26

-# Brand-new... #

-..utility room...

0:53:260:53:28

..and managed to squeeze in a...

0:53:290:53:31

-# Brand-new... #

-..downstairs toilet.

0:53:310:53:34

# Brand-new Brand-new, brand-new... #

0:53:340:53:38

Upstairs has had a reconfigure.

0:53:380:53:40

The larger bedrooms have had the walls knocked around

0:53:400:53:43

to make a small box room into a proper double.

0:53:430:53:45

The separate toilet and bathroom have been combined and now house

0:53:540:53:58

a full-sized family bathroom that is...you guessed it...

0:53:580:54:02

# Brand-new...

0:54:020:54:05

# Brand-new... #

0:54:050:54:07

This house has clearly had a complete overhaul.

0:54:070:54:09

The whole project, including fees and stamp duty, has cost 100,000,

0:54:090:54:14

which is 40 grand more than Luca had budgeted for. So why the increase?

0:54:140:54:18

The reason we went more was because...

0:54:200:54:23

One was because of the balcony at the back,

0:54:230:54:24

which we didn't know we were going to add at the time.

0:54:240:54:27

Two, obviously, we've rendered...

0:54:270:54:29

we completely rendered the outside - we didn't know whether

0:54:290:54:31

we were going to keep it pebble-dash or render.

0:54:310:54:34

The drive, rather than just putting shingle down everywhere,

0:54:340:54:37

we've block-paved it. The kitchen, we've gone high spec, the bathroom,

0:54:370:54:41

we've gone high spec, obviously extended one of the bedrooms.

0:54:410:54:43

So we haven't just done, like, a full refurb.

0:54:430:54:45

We've moved some walls around

0:54:450:54:46

and put top-spec kitchen, wires, bathroom etc,

0:54:460:54:48

and then that balcony is the wow factor,

0:54:480:54:51

so that's cost a couple of quid.

0:54:510:54:53

Luca decided against wooden casement windows because of the style

0:54:530:54:56

of other houses in the estate.

0:54:560:54:58

But they are brand-new, like everything else.

0:54:580:55:01

So, what position has ex-footballer Luca played in this project?

0:55:010:55:05

I was more of a relaxed role in this project,

0:55:060:55:09

so I was here probably once a week, coming, doing little bits,

0:55:090:55:14

especially at the start in terms of ripping the place out.

0:55:140:55:16

But whilst the project got sort of moving and all the trades came in,

0:55:160:55:21

I sort of took a step back and just came to oversee it,

0:55:210:55:24

basically bought the blokes lunch,

0:55:240:55:26

bought all the boys lunch, bought them a drink every now and again

0:55:260:55:29

and just made sure that, yeah,

0:55:290:55:31

it was all moving forward nice and smoothly.

0:55:310:55:33

There is no such thing as a free lunch, though,

0:55:330:55:35

and it was up to Luca's friend Howard to be there daily,

0:55:350:55:38

to manage the team,

0:55:380:55:39

who have put in a fair amount of graft in this house.

0:55:390:55:42

Yeah, I'm very happy with Howard.

0:55:420:55:44

I think he's done a blinding job with the place.

0:55:440:55:47

He's obviously kept on top of it,

0:55:470:55:48

made sure the boys are here doing their jobs, and he's...

0:55:480:55:51

he's obviously got stuck in himself and he's done a top,

0:55:510:55:54

top job of doing all the tiling, fitting the kitchen and that.

0:55:540:55:57

So, yeah, over the moon with Howard.

0:55:570:56:00

It's turned out very nice. I'm very happy with it.

0:56:000:56:03

I think the bathrooms,

0:56:030:56:04

the kitchen and the balcony are the three key factors to the house.

0:56:040:56:09

Very nice, very high spec and, yeah,

0:56:090:56:11

I don't think anyone wouldn't like them, really.

0:56:110:56:14

I agree, Howard, but let's test that theory and ask two local estate

0:56:140:56:18

agents if they like it. First, the agent who saw it last time.

0:56:180:56:21

It's my second time in the property,

0:56:240:56:25

and the changes are fantastic, actually.

0:56:250:56:27

I think this property's been finished to an excellent standard.

0:56:270:56:30

You can tell from the doors and the kitchen that they've used,

0:56:300:56:33

all the way through to the colours, as well.

0:56:330:56:35

So I think it's exactly what you want to see here.

0:56:350:56:37

The selling points definitely are you've got the three bedrooms

0:56:370:56:40

and they're all good-size bedrooms.

0:56:400:56:42

You've got the two reception rooms, the open-plan kitchen,

0:56:420:56:45

you have got an upstairs bathroom, as well.

0:56:450:56:48

And obviously it is high specification, as well.

0:56:480:56:50

So I think that definitely works for the property.

0:56:500:56:55

But will the sales figures work?

0:56:550:56:56

A total of 600,000 has been invested in the house.

0:56:560:56:59

What could it sell for?

0:56:590:57:01

On the sales market, this would achieve approximately £625,000,

0:57:030:57:06

possibly £630,000.

0:57:060:57:09

I think the property can achieve anywhere

0:57:090:57:11

between £625,000 and £650,000.

0:57:110:57:15

We were looking at sort of certainly 750, around that mark,

0:57:150:57:20

specially with the spec of the place and with the properties that are

0:57:200:57:23

for sale. We know what a few of them have sold at

0:57:230:57:25

and what they're on the market at at the moment,

0:57:250:57:28

and with what we've done and the places that are for sale,

0:57:280:57:30

yeah, it's a bit low.

0:57:300:57:32

If I'm honest with you.

0:57:330:57:35

We're still going to put it on the market at just under 800 grand

0:57:350:57:39

and see what we get for it from there.

0:57:390:57:41

So we're still happy with the investment and the purchase.

0:57:410:57:44

-Confident we can sell it at that price, anyway.

-Yeah.

0:57:440:57:47

With Luca and Howard's full spend, including fees and taxes,

0:57:470:57:51

being 600,000,

0:57:510:57:52

either way they are onto a winner

0:57:520:57:54

and it just takes one buyer in a very competitive market

0:57:540:57:57

to pay the price they're looking for.

0:57:570:57:59

So, will this team stick together for more projects?

0:57:590:58:02

-Of course.

-100% we'll work together again, yeah.

0:58:030:58:06

-It's going very well.

-Living together, working together.

0:58:060:58:10

-Yeah.

-It's not that bad.

0:58:100:58:11

Behind every auction, there's a different story to tell.

0:58:150:58:18

Yes, and we'll have lots more stories for you next time.

0:58:180:58:21

Yeah, so join us here on Homes Under The Hammer.

0:58:210:58:23

-See you soon.

-Bye.

-Goodbye.

0:58:230:58:25

A film extra who wants a starring role as a property developer buys a flat to refurbish in Folkestone in Kent, another developer has ambitious plans for a former council depot in Milton in Stoke-on-Trent, and two footballing friends take on a detached 1930s house in Norbury in London. Martin Roberts, Lucy Alexander and Dion Dublin hear their plans, but will anyone them make the profit they are dreaming of?