Sandbanks house bought for £1.5m doubles in value - after it was knocked down

The bungalow that was bought for £1.5m and has since been knocked down

The bungalow that was bought for £1.5m and has since been knocked down

First published in News
Last updated

A POOLE property that was bought for £1.5 million has doubled in value - after it was knocked down.

The removal of the bungalow has given way to a small building plot on the water's edge at Sandbanks.

The 'Millionaires' Row' in Poole Harbour is the fourth most expensive place in the world for residential property and 'blank canvas' plots are hugely sought-after.

Crucially, the owners of the sandy site that is about a tenth of an acre, have secured planning permission to build a luxurious five bedroom house.

Now the empty plot on the exclusive peninsula has gone on the market for £3m.

It would cost up to £1m to build the three-storey home from plan, which will have a market value of £5m when complete.

The land is likely to be bought by a developer or someone with the time and money to build their dream home.

Alternatively, the estate agents are marketing the property as a 'turn key' proposition where a buyer can pay £5m and move straight into the house when built.

The site is in a small cul-de-sac called The Horseshoe.

It overlooks Poole Harbour, enjoys direct access to the waters and even has its own private beach. It is just around the corner from soccer boss Harry Redknapp's house.

Estate agents Tailor Made describe the land sale as a 'superb opportunity to build your own bespoke beachside home on the world renowned Sandbanks peninsula.'

 

Bournemouth Echo:

Adrian Dunford, of Tailor Made, said Sandbanks is a unique location where 'blank canvas' sites are more attractive and valuable than the house already on them.

He said: "We are in an area where residental properties are very much viewed for their plot value.

"It is about the potential of the plot rather than what is already on it.

"Knocking a house down and getting planning permission for a new one gives the property a much greater value than before, no matter how old or new the house.

"If you have the money, you can build your dream home in one of the best locations that there is.

"The market here is moving at a real pace. We have just sold a property for the equivalent of £1,250 per square foot, which is a record."

Bournemouth Echo:

Poole Borough Council have approved plans for a brand new house with five en-suite bedrooms, open plan living space, a home cinema and a gymnasium.

Outside there is room for a double garage, a boat store, four mooring spaces and a rear terrace with spectacular harbour views.

The house that was demolished was a three bedroom bungalow that neighbours said was in a 'good state of repair.' It was built in the 1920s.

A council planning officer's report into its demolition stated it was a 'modest detached bungalow' that had an 'inconspicuous appearance'.

The Horseshoe contains nine properties, all of which directly back on to Poole Harbour, and only one of them has been redeveloped into a modern, luxury home.

Bournemouth Echo:

 

Comments (25)

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5:35pm Thu 27 Mar 14

Lucky Rich says...

Bet the travelers know about the space by now :-)
Bet the travelers know about the space by now :-) Lucky Rich
  • Score: 23

6:14pm Thu 27 Mar 14

ashleycross says...

youtube who's afeard mr sandbanks
youtube who's afeard mr sandbanks ashleycross
  • Score: 0

6:26pm Thu 27 Mar 14

BackOfTheNet says...

ashleycross wrote:
youtube who's afeard mr sandbanks
You should probably put a parental guidance warning before listening..

I thought I spotted the singer (Kev?) before the QPR away game. He's not supporting us Hampshire lot now is he? :)
[quote][p][bold]ashleycross[/bold] wrote: youtube who's afeard mr sandbanks[/p][/quote]You should probably put a parental guidance warning before listening.. I thought I spotted the singer (Kev?) before the QPR away game. He's not supporting us Hampshire lot now is he? :) BackOfTheNet
  • Score: -1

6:36pm Thu 27 Mar 14

kalebmoledirt says...

Zzzzzzzzzzzzzzzz
Zzzzzzzzzzzzzzzz kalebmoledirt
  • Score: 5

6:47pm Thu 27 Mar 14

apm1954 says...

knock down price.
knock down price. apm1954
  • Score: 3

7:14pm Thu 27 Mar 14

Plumber64 says...

Funding Fo r Richard Carr !!!!!!!!!!!!!
Funding Fo r Richard Carr !!!!!!!!!!!!! Plumber64
  • Score: 2

7:14pm Thu 27 Mar 14

KLH says...

That bungalow had character - much better than whatever monstrosity goes up now. And it will be a monstrosity, I bet!!
That bungalow had character - much better than whatever monstrosity goes up now. And it will be a monstrosity, I bet!! KLH
  • Score: 10

7:14pm Thu 27 Mar 14

nickynoodah says...

Houses are exchanging hands for millions
and knobdirt is having a 6 hour afternoon nap
Zzzzzzzzzzzzzzzz
Houses are exchanging hands for millions and knobdirt is having a 6 hour afternoon nap Zzzzzzzzzzzzzzzz nickynoodah
  • Score: -9

7:27pm Thu 27 Mar 14

Abc1970 says...

If I had the money I would just buy the land and have my own private beach. It would drive the property developers who are destroying the area bonkers, or I might allow all day parking there for £3, just to annoy the council who approve all of theses tacky tasteless houses
If I had the money I would just buy the land and have my own private beach. It would drive the property developers who are destroying the area bonkers, or I might allow all day parking there for £3, just to annoy the council who approve all of theses tacky tasteless houses Abc1970
  • Score: 17

7:38pm Thu 27 Mar 14

pete woodley says...

Who the hell wants to live near Mitchell and Rednapp.
Who the hell wants to live near Mitchell and Rednapp. pete woodley
  • Score: 11

8:17pm Thu 27 Mar 14

LordLilliput says...

Quoting 'predicted values' for plots and subsequent build projects doesn't constitute facts. Even more so when the estate agent in question is renowned for drumming up as much hype to further it's own agenda and exposure.

Really should have the words 'EDITORIAL FEATURE' before the story.
Quoting 'predicted values' for plots and subsequent build projects doesn't constitute facts. Even more so when the estate agent in question is renowned for drumming up as much hype to further it's own agenda and exposure. Really should have the words 'EDITORIAL FEATURE' before the story. LordLilliput
  • Score: 10

8:35pm Thu 27 Mar 14

LordLilliput says...

I meant 'ADVERTISING FEATURE'.. it's been a long day.. :-)
I meant 'ADVERTISING FEATURE'.. it's been a long day.. :-) LordLilliput
  • Score: 7

8:38pm Thu 27 Mar 14

Shinysurfer says...

Why had nobody mentioned that the original estate agent has obviously undervalued the property in the first place.

A property doubles in value by knocking it down?

Massive rip off.
Why had nobody mentioned that the original estate agent has obviously undervalued the property in the first place. A property doubles in value by knocking it down? Massive rip off. Shinysurfer
  • Score: 13

9:02pm Thu 27 Mar 14

The Liberal says...

Yes, of course it's worth that much… There's one born every minute.
Yes, of course it's worth that much… There's one born every minute. The Liberal
  • Score: 7

10:22pm Thu 27 Mar 14

Chris@Bmouth says...

1,250 pounds per square foot. Still in the dark ages in a country which has apparently adopted the metric system.
1,250 pounds per square foot. Still in the dark ages in a country which has apparently adopted the metric system. Chris@Bmouth
  • Score: -3

11:17pm Thu 27 Mar 14

Lord Spring says...

Tesco Express opening has pushed the price up its so convenient.
Tesco Express opening has pushed the price up its so convenient. Lord Spring
  • Score: 4

11:41pm Thu 27 Mar 14

RM says...

Shame, the original little bungalow had real character. The glass monstrosity that will replace it will be a monument to lack of taste ( like the example shown) as so many of these million million plus houses along there are.
Shame, the original little bungalow had real character. The glass monstrosity that will replace it will be a monument to lack of taste ( like the example shown) as so many of these million million plus houses along there are. RM
  • Score: 6

12:01am Fri 28 Mar 14

HRH of Boscombe says...

The Liberal wrote:
Yes, of course it's worth that much… There's one born every minute.
You,re funny.
.
It's all relative. If you want something and can afford it then it is worth it.
.
Some Mayfair flats go for £50million plus and are in smelly London.
.
It could be lovely but they'll probably build some Thunderbirds style rubbish.
[quote][p][bold]The Liberal[/bold] wrote: Yes, of course it's worth that much… There's one born every minute.[/p][/quote]You,re funny. . It's all relative. If you want something and can afford it then it is worth it. . Some Mayfair flats go for £50million plus and are in smelly London. . It could be lovely but they'll probably build some Thunderbirds style rubbish. HRH of Boscombe
  • Score: 1

6:54am Fri 28 Mar 14

kalebmoledirt says...

More the better if your desperate to offload a load of dodgy money
More the better if your desperate to offload a load of dodgy money kalebmoledirt
  • Score: 2

7:37am Fri 28 Mar 14

winton50 says...

Meanwhile we have people in this first world country being given tokens to visit foodbanks
Meanwhile we have people in this first world country being given tokens to visit foodbanks winton50
  • Score: 4

8:49am Fri 28 Mar 14

Bourne272 says...

You're all slagging off modern houses but what would you build? Mock tudor semi?
You're all slagging off modern houses but what would you build? Mock tudor semi? Bourne272
  • Score: 1

9:23am Fri 28 Mar 14

Franks Tank says...

The 'Millionaires' Row' in Poole Harbour is the fourth most expensive place in the world for residential property".

Expensive - undoubtedly, but isn't it time we moved on for this tired and well worn myth.
I doubt Sandbanks is the 4th most expensive in the UK and most defiantly not the world.

Didn't this myth arise over 10 years ago when a pokey apartment near the Sand Acres Pub got sold for a million quid?

Can anyone else shed a more accurate light on the origin of this myth?
The 'Millionaires' Row' in Poole Harbour is the fourth most expensive place in the world for residential property". Expensive - undoubtedly, but isn't it time we moved on for this tired and well worn myth. I doubt Sandbanks is the 4th most expensive in the UK and most defiantly not the world. Didn't this myth arise over 10 years ago when a pokey apartment near the Sand Acres Pub got sold for a million quid? Can anyone else shed a more accurate light on the origin of this myth? Franks Tank
  • Score: 5

9:38am Fri 28 Mar 14

BarrHumbug says...

Of coarse its doubled in value, if you or I bought a run down 2 bed bungalow, obtained planning permission for a 5 bed house on it and cleared the site then you'd make money too, the scale of which just depends on the desirability of the area.
Of coarse its doubled in value, if you or I bought a run down 2 bed bungalow, obtained planning permission for a 5 bed house on it and cleared the site then you'd make money too, the scale of which just depends on the desirability of the area. BarrHumbug
  • Score: 0

12:55pm Fri 28 Mar 14

speedy231278 says...

Surely someone with all that money could afford a decent architect and come up with something that doesn't look like it was built out of surplus glass and metal tubes like the rest of them? All the money in the world... and no taste!
Surely someone with all that money could afford a decent architect and come up with something that doesn't look like it was built out of surplus glass and metal tubes like the rest of them? All the money in the world... and no taste! speedy231278
  • Score: 1

3:46pm Sat 29 Mar 14

JackJohnson says...

Shinysurfer wrote:
Why had nobody mentioned that the original estate agent has obviously undervalued the property in the first place.

A property doubles in value by knocking it down?

Massive rip off.
Probably not. A brownfield site with services already laid on is worth a lot more than a brownfield site with a building on it.

As for the style of the proposed building - fetch me a bucket.
[quote][p][bold]Shinysurfer[/bold] wrote: Why had nobody mentioned that the original estate agent has obviously undervalued the property in the first place. A property doubles in value by knocking it down? Massive rip off.[/p][/quote]Probably not. A brownfield site with services already laid on is worth a lot more than a brownfield site with a building on it. As for the style of the proposed building - fetch me a bucket. JackJohnson
  • Score: 0

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