‘I’m blown away!’ Homes under the Hammer buyers make £185k profit on ‘bizarre’ property

On an episode of Homes Under the Hammer, Martin Roberts was viewing a property in Chiswick West London. The town of Chiswick is perfect for those who want the advantage of living in the capital but also like green leafy areas. The property Martin was viewing was a three bedroom mid terrace on a “really beautiful street” that boasted “charming” houses.

With the property being in a “really desirable part of London”, Martin thought it was strange that the guide price at auction was only £700,000.

On entering the home, it was clear the property needed a lot of work but the expert noted that it had some very nice features.

The main living area, which would be used as a dining and living space, was a decent size and included a brick fireplace which Martin said he would like to see stripped back.

There was a bedroom towards the front of the property – on the roadside – which was a decent size.

READ MORE: Four ‘effective’ methods to deter mice from your home ‘quickly’

The living room had obviously been knocked down at some point to create an interesting space that could be seen as a walk-through dining area. The room then leads into the kitchen which is very small and has views of the garden.

The house is in a conservation area though so if you wanted to replace the single glazed windows it could get costly as the local authority will have very specific requirements that must be met for ant replacements.

Walking up the stairs of the three bed terrace, Martin was shocked by the amount of space the house would have if it was reconfigured. The main room on the top floor is a great size and off it are two smaller rooms but they also open into one another. On the next floor up is another bedroom, but again is quite small.

Martin said: “The layout is so bizarre, but the floor space alone made it a really enticing prospect for potential buyers.”

GMB’s Ben Shephard’s quiet life in Richmond with wife and two children [INSIGHT]
‘Tried and true’ methods to deter pigeons from gardens ‘for good’ [TIPS]
‘Golden rule’ for removing toilet limescale with just 2 ingredients [EXPERT]

With the property having a guide price of £700,000, once renovated a local estate agent estimated the house could be worth close to the £1million mark.

The property failed to sell at auction, however keen property enthusiasts, Darren and Chloe who featured on an earlier episode, spotted the opportunity and the offer of £695,000 snagged it for them.

The couple were so keen on the property beach of the area it was in and wanted to create an amazing family home.

To create that beautiful family home the pair planned out to carry two extensions both downstairs and up in the loft.

They had an initial £60,000 budget and planned to complete the work in 12 to 16 weeks.

READ MORE: Limescale build-up in kettles raises energy bills – how to clean

Homes Under the Hammer returned five months later to check on the pair’s progress.

The property was hardly recognisable as the ground floor has been made into a spacious open-plan kitchen/diner.

The bedroom at the front has been converted into a cosy living area. The first floor now has a master bedroom with a stylish en-suite bathroom as well as a smaller bedroom with it’s very own en-suite.

The top floor has also been converted into a secluded bedroom, which also boasts an en-suite. The entrepreneurial couple explained that the house was “not a desirable home and a tight awkward space” so the project has been a “massive transformation”.

With the house being in such a desirable location, the pair wanted to give as much possible to this transformation which is why they opted to add an en-suite to each bedroom and give it a “desirable” feel.

Darren explained that there were troubles with the existing foundations before starting work on the house and that there was a six-week delay when putting in planning permission as the home was not registered.

While their budget was originally £60,000 they did end up spending almost double but agreed that was “defiantly worth spending the extra money”.

Two estate agents visited the property in December 2019 to value the home. One estate agent said: “I’m pretty blown away with how much the owners have achieved with their traditionally compact Cictorian cottage. Even though there are some fantastic developments in Chiswick this for me is pretty much on another level.”

The agents said the property could be worth £1million to £1.5million which would give the couple a pre-tax profit of £185,000 if the home sold for £85,000.

The pair shared that this was not their last property renovation job as they were already thinking about the next house they were set to transform.

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

Leave a Reply

Your email address will not be published.