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Homes Under the Hammer visited south-west England in a recent episode, where Martin Roberts looked around a small, top-floor flat needing some TLC. On his first visit to the property, the presenter pointed out an issue with mould and dampness, which was likely caused by a leaking roof. Despite its neglected appearance, the mezzanine-style property had a unique selling point – uninterrupted views of Stroud.
The one-bedroom flat was sold for £83,000 at auction, to a local couple, Fiona and James.
As budding property developers, the pair had some experience with renovating run-down homes in the small market town they call home.
On his first visit to the property, presenter Martin Roberts pointed out the many flights of stairs which led to the top-floor flat.
The small space was mostly a blank canvas, though it did have a few issues.
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New flooring, plastering, kitchen suite and bathroom fittings were on the pair’s to-do list to improve the property.
They had a budget of £5,000 and a timescale of just four to eight weeks to complete the rental project.
Eight months later, Homes Under the Hammer returned to the flat in Stroud.
The decor was fresh and bright, creating a modern feel throughout the property.
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A new bathroom suite with patterned feature tiles replaced the old fittings, with a new water tank and kitchen appliances to match.
The mould issue was fixed with new windows, fresh plastering and a full refresh throughout.
In September 2022, a local estate agent visited the flat to see the results. He noted that the “clean lines and modern finish” were very desirable for both buyers and renters, estimating a sale price of £140,000 on the open market.
This would give Fiona and James an impressive profit of £52,000, having invested a total of £88,000 in the project.
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