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Million Pound Property Experiment
Overview
Million Pound Property Experiment was a television series in 2003–2004 which aired on BBC Two in the United Kingdom in which designers Colin McAllister and Justin Ryan bought, renovated and re-sold properties for a profit. This, as they gambled with a £100,000 loan from the BBC, with the ultimate goal being a sale of a property for £1 million. Taking over two and a half years in the making for the TV series for seven, 60-minute weekly TV slots. Viewers saw them buy, renovate and sell seven properties across Britain, ranging from £100,000 to £1.25 million. It drew an audience of over four million regular viewers as they attempted to leap up the property ladder in seven rungs. They started off with a tiny place in Birmingham for £100,000 and traded up after every sale on a nationwide challenge to find the next potential property. In the end, they ended with a net profit of £290,000. The programme starred Colin McAllister and Justin Ryan as interior designers and Nigel Leck, a full-time developer who project-managed their refurbishments. At the end of the series, the original purchase and interest had to be returned with any profits donated to Children in Need. Their advice is sensible rather than original or inspired – find areas on the up, buy the worst house in the best street, research what sort of people buy in the area and aim your development squarely at them.