Homes Under The Hammer host calls out buyer for ‘breaking golden property rule’ as he’s left wincing by nine-bedroom hotel in total ruin

Homes Under The Hammer presenter Dion Dublin confronted a buyer for breaking an important ‘golden rule’ on Thursday night’s episode.

In the episode, the presenter showed viewers a house in Blackpool that had fallen into disrepair in recent years.

Before a buyer purchased the property to renovate it, the nine-bedroom hotel had collapsed in places.

It was a huge project, with missing floorboards, black mold, piles of rubble and broken ceilings.

He said, ‘I see water pipes sticking out, I see gas pipes sticking out of the walls.

In the episode, the presenter showed viewers a house in Blackpool that had fallen into disrepair in recent years

‘There are lovely big windows, which is a plus, and lovely high ceilings, which is also a plus. And some of the old features are still there.

‘It’s a very big room, which is positive, but it’s missing floorboards. It’s just cluttered and old and it’s not getting any better.

I can see another room here, I can see the kitchen at the back… It’s not a great start, but I can see why the guide price at auction was £20,000.’

He added: ‘If you’re going to do something like this, there are a number of things to consider. Make sure you have the budget before you even think about a project of this magnitude.

‘This project is definitely worth tackling, but if you have the budget, do it right. It needs to go all the way back to the bare bricks and start over.

“If this project gets into the right hands, with the right budget and a little imagination, it could be beautiful again.”

According to a local estate agent, the property could be worth between £200,000 and £300,000 after renovation.

Fortunately, former opera singer Peter was able to buy the dilapidated building for £34,000, with plans to restore it.

Before a buyer purchased the property to renovate it, the nine-bedroom hotel had collapsed in places

With missing floorboards, black mold, piles of rubble and broken ceilings, it was a huge project to tackle

Fortunately, former opera singer Peter bought the dilapidated building for £34,000 with plans to restore it… But according to Dion, Peter broke the ‘golden hammer rule’ because he didn’t view the property or read the legal documents before buying it.

The recently renovated building cost around £70,000 to fit a new roof and pay for labour and materials

But according to Dion, Peter broke the ‘golden hammer rule’ because he did not view the property or read the legal documents before buying it.

Peter said: ‘When we looked at it, we saw that there was a building permit for four apartments. We wanted to do that anyway.’

The cost of renovating the recently refurbished building was approximately £70,000, including a new roof, labour and materials.

An estate agent estimated the gleaming new property was worth £200,000. Peter would make a profit of £90,000 if he decided to sell.