Homes Under the Hammer couple buy fire-damaged farm for jaw-dropping £825,000
A guide price at a property auction is merely an indication, not a guarantee of the final selling price. It provides a hint of where bidding might start to slow down and the potential value of the property, depending on the eagerness of bidders.
So when a derelict, fire-damaged farmhouse with outbuildings and land on the Isle of Anglesey went to online auction with a guide price of £320,000 and was sold for a staggering £825,000, there must have been a compelling reason for someone to exceed the guide price so dramatically.
In an episode that was initially aired back in April 2024, but was once again shown on BBC on Tuesday morning, January 14, the farm was first visited by BBC's Homes Under The Hammer presenter Martel Maxwell, who was captivated by the rolling 25 acres of the beautiful Welsh landscape but was less impressed with the size of the farmhouse that serviced it - essentially just a two up, two down.
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Even more disappointing than the size of the farmhouse was the fact that the home had suffered a fire and although all the walls and most of the ceilings were still intact, there was soot damage in almost every room. However, stepping outside, Martel's spirits lifted as she saw the potential in the unconverted stone outbuildings and the space provided by a large, more modern barn.
Property developers Mike and Sarah, who had previously graced the screens when they revamped a terrace house in Wilmslow, surprised many as they splashed over half a million pounds above the guide price on a new site. Reflecting on their personal investment, Sarah said: "This one is for us rather than business related. All my childhood holidays were in Anglesey, my parents then retired here as well and we thought this is where we want to be."
The couple initially set an 18-month timeline using permitted development rights to extend the building footprint, with Mike taking on much of the work and engaging local trades for specialised tasks. Their budget was set around £100,000. For the latest TV & Showbiz news, sign up to our newsletter.
When the show revisited after two years, the progress appeared dubious - the roof was missing, internal structures like ceilings and floors were removed, and a key external wall had been demolished. However, new construction was evident with first-floor walls erected, prompting questions about the developments.
Addressing this, Mike explained: "We've knocked the house down near enough, put all the walls up to the first floor level, we're just waiting now to put the joists in to carry on. Instead of going down the permitted development route we went down the full planning route so that takes time."
The couple's new first floor extension plans were set to introduce a hall with a staircase, a bootroom and a generously sized lounge, while the heart of the original building was set to transform into a kitchen diner, complete with a seating area around a log burner. The design further included a new section with floor-to-ceiling glass to maximize the beauty of the surrounding views.
Initially, their budget capped at £50,000; however, due to changed plans favouring a larger renovation, they anticipated a twofold increase in their budget to approximately £200,000. Sarah predicted it could take an additional 12 months to make the house liveable for them to move in, followed by another year to perfect the garden landscaping and refurbish two outbuildings into a games room and a granny annexe.
As the programme showed, the couple were residing in a static caravan on site together with their son at the time of the construction, with conditions cramped, but their horses comfortably settled into brand-new stables housed within a modern barn. Additionally, one newly completed structure on the property came as an unexpected treat.
Sarah explained: "We were very rash and we treated ourselves to an Arctic cabin. We decided now was the time as we hadn't got anywhere to get away from the build and to have friends round, so now we can go in there and sit around the firepit in the middle and it's nice just to be able to switch off."
The estate agent revisited the site and surmised the land might fetch a pre-tax income of about £5,000 per month. A further eye-opener was the valuation given during the show. Dependent on the quality of finish and conversion of outbuildings, he estimated a worth of between £1.5m and £1.6m.
But the family weren’t swayed by the figures, as they saw it as their forever home. Within their cabin, they celebrated their evolving Homes Under The Hammer-backed life on the Isle of Anglesey.
Mike offered a toast: "Here's to the nearly finished project - only another 12 months to go! " alongside Sarah who added: "And here's to living on Anglesey!" This particular Homes Under The Hammer episode comes from series 27 episode four, which you can watch on catch-up with BBC iPlayer here.
