Dion Dublin was left stunned during a recent episode of BBC's Homes Under the Hammer when a Liverpool property developer confessed that a massive city centre project "could make or break" him. The buyer, Kieran, purchased a five-floor shell of a building at auction for £506,000, with plans to transform it into high-quality student accommodation.
Massive Project in Liverpool City Centre
The property, located in Liverpool city centre, went to auction with a guide price of £350,000. Dublin, who often visits the North West for the show, described the structure as "out of the ordinary" and "massive." He told viewers: "I have been informed that today's lot is a bit of a shell. It's over five floors and it's massive."
Wondering about the building's potential, Dublin asked: "What can you do with a structure like this? It could be loads of things. It could be apartments, flats. There could be a business on every floor here." He later revealed that the intended use was student accommodation, given its central location and impressive size.
Buyer's Bold Statement
Kieran, an experienced property developer from Liverpool, purchased the building at auction for £506,000. He planned to create 44 student bedrooms with en-suites, along with five shared kitchens and communal rooms. Explaining his decision to take on the challenge, Kieran said: "I've been doing property for 12 years now and I wanted a new challenge."
He added: "This could make or break me. I've done a few refurbishments on apartments but this is definitely my biggest." With a budget of £1.2 million, Kieran hoped to complete the transformation within 12 months.
Stunning Valuation After Renovation
The Homes Under the Hammer team returned just over a year later to find the majority of the building complete, with the first floor of flats ready for display. In total, Kieran spent £1,756,000 on the project. A property advisor valued the finished building at £4.3 million if sold, meaning Kieran could have made a £2.5 million profit.
Each room could be rented out for £650 to £850 per month, and Kieran said he was tempted to keep the building to himself for a more long-term benefit. Dublin, who moved to Merseyside in 2023 with his wife Cheryl and daughter Ruby, continues to feature in the show, which airs weekdays at 11:15am on BBC One and iPlayer.
