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Private Notes
For the last eight years, Sarah Beeny has been guiding budding property developers through the renovation game. Many failed to listen to her advice but often saw their bad decisions saved by a rising property market. But now with the housing market downturn, and lending still in crisis, there's never been a harder time to develop.
For the last eight years, Sarah Beeny has been guiding budding property developers through the renovation game. Many failed to listen to her well-grounded, hard hitting advice but often their bad decisions were saved by a rising property market. But now with the housing market down turn, and lending still in crisis, a stable property market a dim and distant memory, there's never been a harder time to develop.
For years, adding space to add value has been a sure-fire developer's trick to make money. In this episode, the amateur developers decide the way to do it is by digging out their basements. It's one of the riskiest ways of creating space, and to add to their gamble these developers start out just as the property market begins to stumble back in 2007. Peter and Louise Mauder in Bethnal Green, East London, and Chris and Jules Weedon in Shere, Surrey, are soon in a race against time to beat the falling market. But that's not their only problem. Sarah thinks both couples are missing a real trick that could rescue their developments. But will they follow her advice, and will it be enough to secure their future incomes?
Nigel and Jilly Gough think a run down Victorian house in Henley holds the key to mortgage-free living; while in Diss, Norfolk, Alan and Susan Hutchinson bank their life savings on a burnt-out game keeper's lodge in the woods. But Sarah quickly discovers that both are getting too personal and not developing the properties for the broadest possible market. Will they take her advice and change their plans in time to save them from losing everything in a market that is falling fast?
For the last eight years, Sarah Beeny has been guiding budding property developers through the renovation game. Many failed to listen to her advice but often their bad decisions were saved by a rising property market. But now with the housing market downturn, and lending still in crisis, a stable property market a dim and distant memory, there's never been a harder time to develop. This week two would-be developers take on two very unusual properties in an attempt to beat the biggest fall in the market in 10 years. In Broadstairs, Kent, Neil Hornsey and Alison Gurr think that a lock-up down a dodgy alley next to a pub and a fishmonger holds the key to their fortune. Meanwhile Sue Ward in Thetford takes on a former jail house complete with its own dungeon and in need of total renovation. Sarah thinks they are both making mistakes with their layouts but will her advice fall on deaf ears? And can they complete their developments before the market comes crashing down round them?
Tonight's developers have done very well out of the buy to let market during the property boom. But now they are risking everything to convert an abandoned Devon railway station which has been left to languish on the edges of Dartmoor for the past 40 years. It's a Grade II listed building and a massive project, but that doesn't stop them from wanting to use the renovated property to launch a holiday rental business, something they have no experience with. Sarah quickly realises they've got their plans and potential market all wrong, just as the crucial Easter deadline for opening passes them by.
For the last eight years, Sarah Beeny has been guiding budding property developers through the renovation game. Many failed to listen to her well-grounded, hard hitting advice but often their bad decisions were saved by a rising property market. But now with the housing market down turn, and lending still in crisis, there's never been a harder time to develop. In this episode with Paul and Karen Clayton in Bristol, it's not a case of will they make a loss on their conversion of a Grade 2 listed house, just how much? Add to that a nine month delay while they battle with the conservation office and this turns into a truly tortuous journey. Meanwhile in Faversham Kent, Robey and Jo Hillard's plans to develop a Grade 2 listed Oast House are also a complete disaster. Sarah has to turn them on their head to save the Hillards from financial ruin and keep conservation happy.
Sarah Beeny charts her golden rules for 'how not to lose everything in a falling market', but it's a pity her advice comes too late for tonight's amateur developers who set out to make their fortune just as the housing market starts to unravel. Successful entrepreneurs Nigel Arrib and Sarah Donahue, have a romantic notion that they can make a quarter of a million pounds by creating a swanky LA pad, in the heart of a run down bit of Rotherhithe, East London. Only trouble is they've bought the wrong property, in the wrong location and their plans are way off beam. Sarah Beeny gallantly tries to get them to change their plans to reduce their liability and turn them into three smaller units, but they motor on regardless. What follows is an epic lesson in 'how not to be a property developer': from ambitions to create zebra covered kitchen units and a cinema, to a master suite the size of most people's houses, complete with a swimming pool sized jacuzzi bath.
Tonight Sarah returns to see if record producer Gareth Milford has managed to survive the downturn. When Sarah last met him he was developing a remote cottage in Herefordshire with a view to die for. His project management skills were badly lacking but the rising market saved him. Buoyed by his success, Gareth took a job as a part-time estate agent and bought another property with even more impressive views. But this time, can he still make a profit? Sarah also revisits Myles Gilbert and his spectacular £2 million development of a Georgian building on the Brighton seafront. Has he finally managed to attract a wealthy London buyer?
Sarah returns to catch up with budding property developers Andy Davenport and Leanne Hewitt at the start of their latest development. Their last project, in Croydon, saw them dealing with crumbling terraces and falling down garages, but so far nothing has deterred them from trying to build up their property empire. This time, they've taken on a bungalow with the potential to build a house alongside it; and think there's mega bucks to be made on a plot of land. But with the market at its worst in history, is it all too much to handle? Also featured are Milan and Tahiya Patel who had hoped to make a quick return on a three-bed semi in Edgware. But with planning issues and a budget that spiralled out of control, was their first development their last?
Sarah returns to Windsor to see if Patsy and John Parnell are any closer to the dream of mortgage-free living. This time, the couple think they've hit the jackpot with an old pub they plan to turn into a luxury family home, while also building two semi detached houses on the land. Keeping their spending down and getting the layout right could see them make a small fortune, but have they learnt anything from their previous mistakes? Also featured are Andy and Amanda Tindall who are planning to seriously upgrade a three-bedroom house they've bought, in the hope to entice high rollers to part with some serious cash.
Sarah Beeny catches up with two sisters who plan to transform a former library into three flats, but are struggling to keep control of their schedule. She also heads for Christchurch in Dorset, where she meets a couple who might have taken on more than they can handle by trying to develop a pair of large semi-detached homes at the same time.
