[Applause] tonight on property ladder it's all about location as we look at two completely different properties with two very big problems a houseboat without a home that's risen from the depths you know what's happened to this barge it's sunk and some expanded on the top of it because I mean that is serious area days and I've got some heavy house in an up-and-coming area that could be sunk by it's layout you should seriously think again as to whether you should put the kitchen upstairs something you gotta remember when you become a developer you gotta have vision [Music] this week it's bricks-and-mortar versus steel and rivets as a period house in a great area goes up against a houseboat with no location at all the properties could not be more different but there's one thing that ties them both together it's their locations that will make or break these developments one of the greatest tricks you can play in this game is to buy a development in an area that's about to rapidly rise in value if you can do this in today's nationwide explosive market you should be onto a real winner accountant Darrell Broughton an IT consultant Peter Hopkins certainly thinks so they've bought into the up-and-coming London suburb of North Greenwich earmarked for the 2012 Olympics and an area that's about to get billions of pounds worth of investments family homes around here have gone up by 18 percent in the last year alone more than ten percent above the national average but while the area is great the property itself will be very hard to get right it's an awkward three-story Victorian house with a dingy lower ground floor that will be hugely difficult to make appealing but they're so confident about making money Darryl has haft his hours as an accountant so he's got more time to manage this project I would say I was scared and would be quite excited about doing it yeah we're actually going into property developing 25 miles away on the River Medway near strewed and Kent metalworker Vernon Francis and his wife sue have pulled off a remarkable feat of buying a property with no location at all they're gambling their life savings on this huge motorless barge with plans to make a three-bedroom floating home but over 90% of houseboats are sold with moorings and Sue and Vernon haven't got one this is going to be a major problem I've always liked boats I have to confess I don't know a huge amount about boats right did you get anyone who does know about boats to look at it before you bought it no I didn't know you have a plan not a written out plan so you took a massive punt honest but risk yeah few trees and just hopes that it be a right [Music] if there's one thing I'm sure of this will not be all right whether you're buying a house or a boat the golden rule remains the same always get a thorough survey but Vernon and Sue didn't bother they paid just 12 and a half thousand pounds for this barge and they'd remortgaged their own home to raise the 40,000 pounds they think they need for all the work they hope to sell for one hundred and thirty thousand pounds which is extremely high without a mooring and make a seventy seven and a half thousand pound profit which i think is rooted firmly in Fantasyland so yeah you're a risk taker yeah the amount of different things I've done in my life in the other business I mean from spraying roadside cabinets Sun boats building Sassy's building trikes all sorts of things and are they always successful not financially know what it's very very hard sometimes not thinking everything through to the finer detail with their life savings on the line I hope he has more luck this time so what he gives up here cut the existing roof off and then fit a complete deck from the front right the way forward rather like the one in the foreground there right I mean the detailing of that upper deck is quite crews and and I think that if you if you want to get it into a good morning it needs to be more refined in its detailing rising house prices are prompting a widespread move on to the water and it's the upmarket moorings that the real draw one of these could add up to a hundred thousand pounds to sue and Vernon sale price they have to be careful because classy marinas will only let in RC boats they've got no firm plans but what they're thinking of doing is building a hulking upper deck that stretches down the entire length of the boat inside they'll build an enormous open-plan kitchen dining living area the problem is there'll be no outside space and the end result will be more floating shared than elephant houseboat I think they need to scale back the upper deck by about 50% they'd still be enough room for a comfortable kitchen diner but it's a much more conventional nautical design that also frees up room for outside space in what you've just said to me might be worth me considering shortening it slightly somebody lives on a boat it is a lifestyle choice and they whilst you don't need a big garden because no one is going to be playing football on it you do need an area that they can sit outside definitely worth considering downsizing the living quarters would certainly ease Vernon's workload he's hoping to do the whole job on his own in just three months but it looks like it would take him that long just to do the lower deck gosh it really is just an empty hull as do this absolutely it does look quite rusty is this watertight if it is this is okay in fact with no survey Vernon can't be sure there's a drydock inspection books in for next week only hope they're not in for a nasty surprise seaworthiness aside down here they're wanting to squeeze in the kind of layer you'd expect to see in a family home with three bedrooms two bathrooms and a utility room but a houseboat is much more likely to be bought by a couple wanting fewer and larger rooms to spacious double bedrooms the large bathroom as well as a cozy lounge will be a far more comfortable and saleable layout you have got a point with the two luxurious bedrooms rather than three I was feeling it might be better to go for three and hedge my bets I think because it suppose you'd be better off having two really good sized bedrooms with plenty of wardrobes and it's a really lovely place for a couple to live because most of your markets will be people without children so you probably want to try and appeal to them more I thought it would be worth sue and Vernon taking another look at their plans and crucially getting those plans down on paper because with no idea what the houseboat will look like no decent marina will give them the time of day pretty valueless a houseboat was no engine was no mooring it's what you do with it so um without the mooring up you're really stuffed yeah let's see what you say what I'm not sure sue and Vernon realize is that good moorings are like Goldust if I was them I wouldn't spend a penny more on this development before finding a home for their houseboat in North Greenwich Peter Hopkin and Darrell Broughton may have struck gold with their location but they've ended up with one very Trixie property this unbalanced three-story Victorian Terrace has a dark and dingy lower ground floor and a very steep inaccessible back garden what's more Peter and Daryl have hardly got off to a flying start planning delays mean they've owned the property for 11 months already how much that cost see 15 20 grand I can't remember now some people in just mortgage made many mortgage Peter and Daryl bought the house for 280,000 pounds their eighty thousand pound budget is very low with hefty mortgage payments making it tighter by the Millers [Music] but all the while they've owned the property its value has been rising and they're four hundred and forty thousand pound resale figure certainly looks easily achievable even so they're diminished budget means they could struggle to make their estimated 80,000 pound profit but for the moment at least the boys are looking on the bright side we have stripped the walls Oh brilliant well done so your 15 20 grand Dan yeah phew wall strips yes you've really got to get it right and you've got to get it right see we've got a very very good idea over the best plan the best possible plan I look forward to seeing what they have in mind because I'm not sure Peter and tower have any idea just what a difficult property they've taken on Darrell Broughton and Peter Hopkin are banking on their North Greenwich Development to make them a tidy 80 thousand pound profits they've now the location but the property is little more than a shell and will take a lot of brains to put right that's because when a third of your house is below ground level making it appealing is a real head-scratcher that's quite a long way below ground level that is so dark and it is so so the lightest so restricted it's actually quite unpleasant down here the Victorians built thousands of properties like this but the lower ground areas were usually meant the staff and making the downstairs work for today's lifestyle is tricky the top half of this three-bedroom three-story house though is less problematic here they plan to convert the loft into a master suite which will score well with the family market the floor below has two bedrooms they want to add an ensuite and I agree this will also add value but it's downstairs that poses the real conundrum on the ground floor there's a large living area and a tiny kitchen and on the gloomy lower ground floor there are two bedrooms and a bathroom Peter and Daryl want to make this dark area at the heart of the home by knocking through to create an open-plan kitchen dining living area then they want to carve up the lighter floor above into an odd hotchpotch of living room bedroom and bathroom I think there might be a better solution I have actually got a completely new plan for your whole development which is very very radical and very different to what you thought you're going to do but the best way to describe it is outside regardless they come with me I'll show you there's always a compromise to be made with this type of property but I don't believe it should be the main living area I would simply refurbish the lower ground floor to create a playroom at the front and a decent-sized bedroom and bathroom at the rear then I'd shift the center of this home to the much brighter ground floor maintaining the large open-plan reception room and making a much bigger kitchen diner by bringing it out into the garden a wraparound walkway would tie all the areas together in a solution that is both functional and stylish Peter and Darrell would have to reapply for plan of admission but that shouldn't put them up doing what's right for the developments big change interesting it's only the bridge that you'd need to get planning permission for you could still get on with a loft extension yeah and you can still get on with refurbishing the whole house yes I love the idea however it's just too far down the line we just want to get on and get shot we have to listen to say I know will you sleep on it yes and then dismiss it and then ask myself hopefully I can find a way of making the boys change their minds I think it would be a crying shame to see them throwing away a first-rate location on a second date [Music] 25 miles away in strewed it's a nail-biting day for Sue and Vernon Frances they brought this rust bucket without a survey and today Vernon finds out the worst do you know what I think's happened to this bulge you don't really matter stress but what it I reckon it's sunk and stomachs landed on the top of it because I mean it does seem like an awful lot of work yeah a third of the hull will have to be replated it's a bit like we're eating part of your house and this doesn't come cheap for Paul Rutherford the boatyard owner it's an open-and-shut case you know what I mean you know don't take it the wrong way or nothing but I mean if I was you I would seriously consider cutting your losses flogging it forgetting something I ain't got all those I'd cuz I mean that that is serious agro days welding on new plates could cost up to ten thousand pounds right at the start this project is teetering on the brink of collapse and it's not helped by Vernon's finger in the wind budget the 20,000 pounds they've allocated for labor and materials is woefully small the kitchen and bathrooms budget is just three thousand pounds and on furnishing and decoration he's allowed five thousand pounds for professional fees and costs there's six thousand pounds and a contingency of six thousand that's already looking back history the total budget of 40,000 pounds is completely unrealistic even for a skilled metalworker like vernon replating the hull is a massive task for one man to take on it's a terrible blow it will rip his three month schedule apart and push them even further into debt I'm happy to admit I'm wrong when I'm wrong and I just don't know if I can do the job [Music] two days later Vernon rallies himself to the task no backing down I show these River boys out of do a boat it's a courageous move but it's also a dangerous distraction from a much more urgent problem at the development the houseboat still has no mooring and little value sue and Vernon have been thinking local but have no idea that finding a location around here will not only be difficult but we'll also do little to boost their developments value I mean Chatham Marina which is here has no boats that are as well as yours yours is quite a long bow 281st coo marina here that doesn't have anything as long as 80 foot this is port were Berg marina but they have a massive long waiting list and a very slow turnover of boats coming and go even if sue and Vernon could find a local mooring it still wouldn't add the kind of value that a city more incurred as it's the big cities that come and the big prices with the right London mooring their houseboat could be worth over half a million pounds the outlay for one of these coveted moorings would be at least two hundred thousand pounds but Vernon and Sue could stand to make a six-figure profit over twenty thousand pounds more than planned I have to say I've been a little bit slack or casual about it and what's really gonna pass about the cyclic so if she's very good at researching and see what we could come up with the trouble is finding a mooring is a full-time job but sue who runs a temp agency has already got one of those [Music] in Greenwich it's week one of Peter Hopkin and Darryl Broughton's bills they're about to start knocking through the dark and dingy basement into this property's main living space but I'm determined to have one last go at changing their minds I really think you should seriously think again as to whether you should put the kitchen upstairs because it is very dark down here from upstairs you can see the garden it's light it's bright and down here would make two really good bedrooms and it doesn't matter if bedrooms a little bit darker once it's all light white walls green walls it's gonna be a lot brighter something you gotta remember when you become a developer you've gotta have vision I really admire their spirit but developing is a business and the concepts I want them to apply to their development is that of upside down living it's not unusual for creative developers to put the living areas upstairs if that's where the best light and the best views are it might feel topsy-turvy to put the bedrooms in the lower ground floors of the property but sometimes it actually makes perfect sense they're cooler quieter or private if that means flipping the layout of the house then don't be afraid to break from convention as it stands it's also a huge hike up three flights of stairs from the kitchen to the master bedroom hardly ideal when it comes to making your early-morning cup of tea the kitchen is staying in the basement is it yep it's down there the plans have been made drawn designed it's ready to go right say battle lost and absolutely pizza and Darrell are sticking to their guns and get straight to work knocking through their brand-new subterranean living area [Music] in strewed Vernon's been working on the house for a whole six weeks this huge task is taking up every moment of his time and he still hasn't got around to drawing up a design for the houseboat it's causing soo big problems Sue's trying to find a mooring but with little idea what the boat will look like no marina will even talk to her I know that you'll push her time and now you've got ideas but we need to get those onto paper if I stop and do those then I'm not getting the whole done next thing we'll be working against the weather and would be further behind than we are now how long will the hull take you 1 to 2 weeks hey Vernon doesn't want to work on the design until he's finished the hull unfortunately though he doesn't seem to have much idea of how long that will actually take so how much is this how about the schedule I don't really work it out exactly but quite a few weeks really so so do you have a schedule I've half given up with it now I think you have to have a I said two and you have to you've got to have an idea of how much you're planning on spending how long it's paying on taking because otherwise it's likely to evolve into no profit that's not gonna do that the success of Sue and Vernon's new venture is looking decidedly shaky in North Greenwich super-confident Peter and Daryl are 10 weeks into their development of their Victorian Terrace the basement has been completely opened up an upstairs has already been replumbed rewired and replastered but even though Daryl took a part-time job so he could project manage he's not on site as often as would be ideal and that in my experience can lead to problems [Music] so this rsj here is basically going to sit the width of the floor here which is going to support the luff conversion yeah and it's not in so why's all this work been done then why they plastered why I don't know why haven't I pick this out the supporting steel that should have gone in hasn't really this should have been spotted much earlier now peter has to try to sort it out with the main contractor what concerns me is well this wasn't put in prior to you know having all this money it was our mistake but I mean they done straight away that straight silly in this room when you ask them so that's why it's happening they can't agree a solution with the builders and pizzas starting to lose his perspective on this development it's at the point we're actually thinking well shall we bother with the loft conversion this would be a huge mistake I can understand that their confidence has taken a knock but throwing in the towel is not the right option I have been in your position where you're halfway through a job it's all going wrong and you just think that's just cut our losses and run the right thing to do is to stick with it you have to do that and off conversion because otherwise you'd really are in trouble when you come to sell that house there is one way they can make their lives an awful lot easier I'm not sure they're going to like my suggestion I mean the reality is Darrell you do you have Thursdays and Fridays off and you could be on-site all day for two of the five days of the week you're not are you I can't see over them all the time that you walk watching over their shoulders clearly the project management isn't working it's your money on the line so there's only two people who need to step in and that's not me if they want to protect their profit margin Peter and Daryl need to start taking a much more hands-on approach to this development that's certainly something that Vern and Francis knows about he's finally finished replacing the howl of his houseboat which is a bit like we roofing a house single-handedly it's been a fantastic solo effort but it ended up taking 12 long weeks when I took this project on people said everything takes longer on water I thought that was a load of nonsense it does and that slandered zoo and Vernon right in the seat because just when this project should be finishing the real work is only just about to begin [Music] in strewed four months into their development Vernon and Sue Francis's luxury houseboat should be finished and on the markets Vernon would earn a penny until they sell and work on a lower deck is only just beginning he's finally decided upon a spacious two-bedroom one-bathroom lay out down here but there's still one huge problem that never seems to go away deck plans aren't drawn yet but I know where that is going to be and how it's going to work and the upper deck I quite probably won't do any plans for the upper deck the truth is Vernon can't do the plans because he still hasn't decided on the design [Music] their drawings mean no mooring and their mooring means little or no profits and determined to make Vernon pin down a design once and for all so I'm taking him to this house boat moored near Chelsea in London this is a prime piece of real estate the boat is valued at half a million pounds and whilst empty moorings here are practically unheard of it's got just the kind of top-end designer specification that could get Sue and Vernon into a top-end mooring elsewhere the right solution is a mixture between what you need in size and what it looks like outside now you definitely want an outside space I think that's really yes oh yeah this boat for instance it's about 2/3 covered and then this open area at the back and actually incredibly simple in its design and it's lovely because of that Vernon could do far worse than to copy this boats layout inch 4 inch on the lower deck there are two large double bedrooms and an amazingly spacious bathroom but it's the upper deck that really makes this houseboat quite special now what do you reckon very impressive lovely isn't it I think in terms of the space up here you've got your kitchen which is a good-size kitchen you've got a dining area and the sitting area and then you've got the outside space and I think that's what you need to achieve to for it to be a great houseboat so the next job has to be that you get some drawings done off the outside of how it's going to look so that you can work on getting your mooring yeah tom is marching on we will you do some drawings yes I'll do some drawings my nagging does pay off and a week later sue finally has the plans she needs to start finding a mooring but even with plans this was never going to be easy [Music] thank you very much it's been quite difficult trying to find a mooring firstly because the boat is so long it's an 8 foot boat and secondly because there aren't the residential moorings available that we thought that there would be only now five months too late asou and Vernon beginning to understand that they've risked a great deal on one very precarious development in North Greenwich Peter and Daryl have decided to go ahead with a loft conversion but to keep the schedule on track they've agreed with the builders to have the supporting steel projecting above the floor of the loft rather than disturb the newly plastered ceiling below it's cutting a huge corner because now they've lost a precious 10 centimetres of head height in an area where head height is at a premium okay so how much head height where you're going to get down - three - 13 cm you kind of got to portray 40 they're now going to have to work even harder to make their loft feel light and spacious so I'm taking Peter and Darryl to this house in Balham South London for a quick lesson in love design [Music] this is the most wonderful thought my only concern is is that you losing a wall to put a unit on and there's not many walls in that loft that you can actually put a wardrobe inside Chester drawers actually a better off putting the wardrobes into the eaves and using the the flat walls to have to let the light in because look over here you've got brilliant wardrobes there's loads and loads of storage I think you should have built-in covers especially when you've got eaves the main reason I brought the boys here is to show them how you can get a proper bathroom into even the tightest of spaces I'm not sure about the bath I think it's really awful I think I really try to cram it in well actually you could have just left that floor space if you don't make the very best of the bathroom up on the top floor has just a spare guess we can you really want it to be able to be the master suite because let's be honest come up on the top floor you've got to walk down nearly as far as the kitchen if you do want to have a bath for the very first time since this development began Peter and Dowell take my advice in a daring design moves they not only install a bathroom they make the whole loft completely open plan it's a bold statement that could be just right there up-and-coming area that loft was quite inspirational and just you know we really have listened to what the Sarah was saying you know making sure that were there was a decent you know and ensuite area and there's plenty of light and we came back with a lot of good ideas the development is back on track and nearing completion but this house hasn't given Peter and Daryl an easy ride and it's not finished with them yet with the end nearly in sight disaster strikes a leaking water pipe in the newly converted loft causes a massive flood damaging every room on every floor of this development pretty soul destroying really I just feel like it's been months of hard work absolutely no a person can we stop that it's a complete heartbreaker for the boys now they're going to have to dig very deep indeed to get their development back on track in strewed Vernon's houseboat is finally starting to make some real progress [Music] the upper deck has been assembled and then the whole structure is craned into position [Music] Vernon might be six months over schedule and 20,000 pounds over budget but this is still a seriously impressive solo achievement it's just got to succeed and I won't back down no matter what and the fact that so many people if said I won't be able to do it that make just makes me even more determined to do it but without a mooring this houseboat is a sinking ship and Sue and Vernon still haven't found one the stress is beginning to tell I'm running a business my husband's not returning for almost a year while he's working on this project and now I'm finding it very difficult to find the time to look but when I have spent several hours looking there hasn't been anything I looked around hartfordshire I looked at Essex I looked through Kent's London wasn't at the top of the agenda because a prime London mooring won't be cheap but it could reap them a decent profit and help and pay back their crippling debts sometimes people need a little helping hand though they are difficult to find there are moorings available if you search hard enough I've come up with this brand new marina in Wandsworth which is just down the river from exclusive Chelsea harbour great advantage with this particular morning is that it also happens to be stuck on the end of a luxury development this potentially is where somebody who is prepared to pay top one act for a boat is going to be prepared to live I'm just blown away this is fantastic and anything we could have got a better a better location than this thank you this is brilliant what is it gonna cost the developers are doing one-year deals at the moment for nine thousand pounds which gives you enough window to be able to market and sell your boat I just can't believe it I think it's a fantastic place yeah I mean it we couldn't want a better location if you sold your boats on this mooring you would be likely to get around 100 and pounds profits a phenomenal profit yeah the key with this deal is that the boat will have to look exactly right to get into the marina then a potential buyer will have the opportunity to purchase a long-term lease which boosts the houseboats value how are you gonna find a nine thousand pounds I don't know yet we will we'll find it yeah I hope they do because now they could make a killing out of this development in North Greenwich the extensive flood damage to Peter and Daryl's development means a huge repair job they're forced to borrow another ten thousand pounds to cover the costs but the boys tough it out and ten weeks later the development is finally finished even though it's not the layout I'd have chosen it's still a highly polished family home [Music] inside soft tones and clean contemporary furniture give the whole property of stylish field the slick finish is more evident than ever in the lower ground floor Peter and Darryl have worked hard to brighten this new heart of the home but there's no disguising this deep hike to the garden and in my book that's never going to be right for a family home it's a sort of poor man's version of having their living space upstairs I think what you have to understand is that when you devote you need to have vision really really pleased and a lot of other people aren't really pleased through there I accept we'll never see eye to eye about what they've done in the basement but their love conversion is a real triumph it's got great light great storage and a stunning open plan bathroom this is fantastic here isn't it great but it was hell to get to this point wasn't it do you think that you now in hindsight were on site enough I think we did as much as we possibly could within our time no it wasn't enough no but I don't think what when will it ever be enough I think typing is a full-time job because you do need to be there all the time if you're especially if you're gonna project manage title project management could have avoided a series of setbacks that helped push the boys budget over by 40,000 pounds fortunately for them the only thing that has been rising faster than their budget is the rocketing local market now you've owned this for 18 months and if you put it on the market now unmodern eyes you'd be able to sell it for 400,000 pounds which means that you've made 120,000 pounds regardless of whatever work you've done if the boy sold for the original 440 thousand pounds they were hoping for they'd walk away with just 40,000 pounds profit just how much this property is likely to now be worth is dant the agent's valuations it's a lovely locker version of a light point your windows if you actually had a terrace or balcony here we are coming up to the flat area of the garden that would really use the space far more sensibly business can be problematic because they don't get too much light but I think they've done the best accout here I would value this property at 550,000 pounds [Music] hopefully this house at 575 thousand pounds now we've had two valuations one's come in at 550,000 and ones come in at five hundred and seventy five thousand that's really pleasing now if you sell to the lowest figure you'd make 150 thousand pounds profit and if you surf the highest figure you make a hundred and seventy five thousand pounds profit from this money it's why over whatever we dream to to make on this place but at the end of the day I think we deserved it so it's off to p7 Darrell Peter and Darrell chose their location well and are riding an amazing local market in a bullish mood they decide to ignore the agents valuations and put the house on the market for six hundred and fifty thousand pounds within a fortnight they receive an offer at our highest valuation of five hundred and seventy five thousand pounds but confident as ever Peter and Daryl decide to hold out for a higher price in strewed Vernon and Sue aren't nearly as upbeat about their finances they're struggling to raise the nine thousand pounds for that all-important central London moring and they don't seem to have any control of their finances at all to be perfectly honest I couldn't tell you how much / I am at the moment I don't really look [Music] 12 months ago Vernon and Sue Frances bought theirs tin-pot bards with the hope of transforming it into a luxury houseboat I never thought I'd say it but it's finally finished Sue and Vernon have ended up with a handsomely proportioned houseboat that won't look out of place in this boring and that's right where they're heading they've raised the cash they needed and today their houseboat has completed her maiden voyage to her new upmarket London location a year later it's finished finally finally it's just Taylor after a daughter oh it says named after you this great big boat Fernan put his heart and soul into the boat and what an achievement it is the layout upstairs works really well there's the all-important outside space the rear that gives way to a wonderfully spacious kitchen dire overall the styling is modern and the oak flooring fits in well in fact this development feels more like a trendy apart than a traditional boat look at the views of London what a great space isn't this fantastic the only I was going to say is that in a perfect world it would have granite work tops and a wooden kitchen did you make a decision to not do that for any particular reason or the amount of money we've spent is far greater than we anticipated so unfortunately had to cut back on yes money was always going to be tight but Dan says Sue and Vernon have made their limited budget go a very long way going with the two double bedroom layout means there's ample space for a well-fitted bathroom next door there's a huge living area that's bigger than most you'd expect to see on the shore I'm very pleased with it is a big transformation 7585 our weeks God that's something a lot of daddy have we we came home really really late when ice in bed and and then he went really early in the morning for our breakup did you miss her much it was the lack of money on this project that puts such a strain on Vernon so did his gargantuan solo effort pay off now you work and spend 37 a half thousand pounds refurbishing the whole boat how much did you end up spending 61 a little thousand that's massively different despite Vernon's hard work the budget still rocketed labor and materials came in well over at 31,000 won he did manage to keep his kitchen and bathroom budget of 3000 pounds but really that's not enough to be spending on a top and development furnishing and decoration almost doubled coming in at nine thousand seven hundred pounds but he did make a saving on the professional fees and costs which came in under budget at four thousand four hundred pounds more in fees ended up costing thirty thousand three hundred pounds meaning the final budget rose from forty thousand to a more realistic 61 thousand five hundred pounds add that the original cost of the boats and the spent for the whole development is seventy four thousand pounds seventy four thousand has is still not very much money for a really spacious two-bedroom house which is effectively what you've got and the mooring here could cost anywhere up to two hundred and seventy five thousand pounds so add those two together and you're in it three hundred and forty nine thousand and that's the cost of it the permanent mooring has to be bought separately off the marina and its price could vary but at today's value a buyer would have to pay a combined price of four hundred and thirty thousand pounds for the mooring and the boat to make Sue and Berlin's 80 thousand pound profits so what do the agents make of it you really love the way they've maximized glass in here ceiling heights fantastic yeah real feeling of space this is a wonderful space isn't that really good and it's great you can see they used a proper solid wooden floor which is good oh this is really nice you don't feel as if you're on a boat at all I would have hoped to see maybe a slightly sort of higher specification the kitchen units to go with everything else that's here I would value this boat on a sixty evidential mooring here at four hundred and fifty thousand pounds I would value this plate on a mooring in this location at four hundred and sixty thousand pounds we would value this house boasts around four hundred and sixty thousand we have had three agents around to value it and they valued it at 450 460 and 460 so if you sold it at 450 their lower figure that would make you one hundred and one thousand pounds and the higher figure of 460 would make you one hundred and eleven thousand pounds profits how would you feel with a hundred thousand pounds in your pockets I haven't really thought like that I'm not even sitting here thinking I want a new car or anything I just was another yes so the plan already is and he's already found another boat to do I can see why because the figures look good sue and Vernon spent seventy four thousand pounds on the houseboat and the cost of the mooring would hike this up to three hundred and forty nine thousand so if they sold to the upper valuation of four hundred and sixty thousand pounds they'd make a tremendous hundred and eleven thousand pounds profit but first of course they need to find a buyer that's great it'll be wonderful waking up here every morning it's so light - thank you roof love the roll a nice to have a separate shower that's unusual you don't often get that in London let alone on a boat feels much much more like an apartment upstairs it felt much more like a boat the positive feedback suggests this could be the start of a great houseboat developing career for Vernon so this is the beginning of a boat building Empire than is it well it'd be nice to have an empire but yeah maybe a VOC building career yes certainly boats is the way forward for us is it to make Monica that should be plain sailing both soon Vernon and Pete and Daryl in Greenwich said that a location can make or break a development Pete and Daryl didn't get their properties spot-on but they should do really well from a rocketing local markets as for Sue and Vernon bringing their houseboat to central London should make the development and out and our success [Music] [Applause] [Music] [Applause] you you you
