The properties in this episode are very different, but they're both in stunning locations. Their developers could reap serious money from the trend of people moving out of cities in search of a more relaxed lifestyle, but with such unique properties come big risks.
Myles Gilbert reckons that Brighton is the place to profit from the rush of people moving out of London. He’s taken on a real challenge – a huge Georgian property right on the sea front. It’s very ambitious, and his previous developing experience only consists of three one-bedroom flats and his own extension. But he’s nothing if not determined.
Not only is he going to refurbish the 15 flats that already exist in the building, but he’s planning a luxury three-bedroom penthouse apartment on the top, with a glass conservatory and terrace above.
He’s only scheduled eight months for the project and has had to get together £2.1 million to fund it. It’s risky, but Myles saw the potential in this property, which came with planning permission to build on the roof. However, while he’s got the views and the market, Sarah has an issue with the fact that the penthouse is four floors up and there’s no lift. For the market Myles is aiming for, Sarah thinks that a lift is essential, but to fit one in means losing an £80,000 studio flat below, something Miles isn’t prepared to do.
Not far into the development, Myles’ surveyor discovers a serious problem with the back wall of the house – it’s crumbling away, so building on top of it, for the moment, is impossible. With the site costing Myles £10,000 a month, any delay is big money, and he quickly falls far behind schedule. On top of that, he decides to sink a further £850,000 on another property down the road! Could he have overstretched himself?
Record producer Gareth Milford is hoping that his hundred year old two bedroom hillside cottage near Ross-on-Wye in the Welsh Borders will be a big draw to people looking for a little peace and quiet.
The house is really small. Downstairs there are just two rooms: a kitchen and a living room. Upstairs there are two bedrooms – but the bathroom is outside. Gareth knows that more space is imperative, so the planning permission is for a large oak framed extension at one end to create a single large open plan area.
Upstairs, the two bedrooms will be bigger and have en suite bathrooms. However, Sarah reckons it would be great to add another bedroom, placing it where Gareth has planned for the kitchen to go. Gareth appears to agree – for the moment at least...
The house is on the side of a steep hill and there’s no vehicle access, but while Gareth thinks the view will be enough to sell it, Sarah thinks this will be a huge problem.
Sure enough, the lack of proper access quickly begins to hold up development, and he’s forced to buy access rights so he can widen the track for vehicles. But there are still problems – there’s no space to turn a car around at the house. Can Sarah convince him to spend yet more money on a car turntable?
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