Homes Under the Hammer pair boost value of flat with collapsed ceiling by £14k

Homes Under the Hammer host Martel Maxwell was staggered by the dilapidated flat when she showed viewers the property before it was sold at auction. The property, located in Dalry, Ayrshire, was riddled with damp, the bathroom ceiling had collapsed and the flat’s layout was the wrong way round. Martel said: “The bathroom or shower room is really not good.

“The ceiling has come down, it looks like there could have been a problem from above with water coming down.

“The ceiling has completely gone and there’s plaster work everywhere.”

The property had a guide price of £25,000 at auction.

Estate agent Laura McLaren of Welcome Homes Aryshire said the property needed renovating throughout, decorating, finishing and a new boiler.

However, despite the state of the property, one buyer who was not afraid to give the flat some TLC was Allison.

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All the damp and structural issues were also fixed, making the flat feel inviting and homely.

Allison said they had to “rip out everything” and start again with the property.

“Five skips of rubbish went out from inside and the garden and then we just started rebuilding from inside again,” she said.

The “simple” reason Allison changed around the two rooms was because of the view from the windows.

She said while standing in the bedroom: “This was the actual living room and kitchen and we changed it for the simple reason being that when you’re looking out the window, you’re just looking out onto a wall at the backdoor.

“Whereas where the kitchen and living room now is, you’re looking out into the road and it’s much brighter.

“The bathroom is still in the same place, but we’ve made it a bit bigger and we’re now coming into the bedroom here from the cupboard in the hall.”

The couple had only spent £8,500 but Allison said there was still “bits and bobs to do”.

They are forecasting a total spend of £9,200 “roughly” once all the work is completed.

Local estate agent Laura came back to view the flat in March 2022.

She said she was “really amazed” by the layout change that the owners had made.

She continued: “It works really well. The high ceilings, and spot light feature again is impressive.

“All the fittings and finishings, the kitchen, the bathroom, the tiling has really been tastefully done.”

Laura said she thinks the property could be rented for £400 per calendar month.

This equates to an annual yield of 15.5 percent.

A local estate agent valued the property in the region of £40,000 to £45,000.

A sales figure of £45,000 would mean a pre-tax profit of more than £14,000.

Allison said she was “really pleased” with the price.

The couple are renting out the flat to a family member.

Homes Under the Hammer is available to stream on BBC iPlayer.

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