Developer builds two houses on Sandbanks plot meant for one - then puts them on the market for three times the value of the original

Buy a £4.5m house, knock it down, build two more and sell them for £13m - the Sandbanks property boom's latest trick

Buy a £4.5m house, knock it down, build two more and sell them for £13m - the Sandbanks property boom's latest trick

Buy a £4.5m house, knock it down, build two more and sell them for £13m - the Sandbanks property boom's latest trick

Buy a £4.5m house, knock it down, build two more and sell them for £13m - the Sandbanks property boom's latest trick

First published in News
Last updated

Two luxury homes squeezed onto a plot meant for one have gone up for sale for 13 million pounds - three times the value of the former property.

The identical futuristic properties share the 3,000 square metre space that is situated in a prime position on the millionaire's enclave of Sandbanks in Poole Harbour, Dorset.

A three bedroom house occupied the site until it was bought for 4.25 million pounds and then promptly demolished.

A development company decided to eke out every square inch of the plot by splitting it in two and building a pair of four storey beachfront houses.

The five bed homes have now gone on the market for 6.5 million pounds each.

They each boast en-suite bedrooms, indoor swimming pools, balconies, lifts to all floors, direct beach access and magnificent sea views.

They are being sold either individually or as a pair should a wealthy buyer wish to live in one and rent out the other or if a couple wanted 'his and her' homes.

It is thought the developers have spent more than three million pounds building the two homes.

The trend of building new luxury house on plots meant for one is a growing one on Sandbanks, the fifth most expensive place in the world to buy property.

Earlier this year, another developer completed two 16ft wide detached houses 10 inches apart on a 1,393 square metre site.

And although a planning official described the latest developments as being on 'relatively narrow' plots, they were still given the go-ahead.

Tom Doyle, of estate agents Lloyds Property Group which is selling both properties, said: "Development opportunities are becoming scarcer on Sandbanks and so prices for older houses are going up.

"Developers need to maximise the space available in order to make money. It is becoming harder to financially justify building one home on a plot and so we are now seeing two homes appear.

"Although a lot of the plots are quite deep you can't spread out or go beyond the existing building line so you have build upwards as much as the planning authorities will allow.

"Both these properties are built over four levels, with the bedrooms on the upper two floors.

"They are very much high end in terms of their quality. I can see these appealing to middle-age professionals who want them as a second home."

The two properties are situated in the south east corner of the Sandbanks peninsula and are very close to the home of Premier League football manager Harry Redknapp.

Over the last two decades Sandbanks has become a millionaire's playground with dozens of luxury beachfront mansions spring up.

Last year, one property on Sandbanks sold for the equivalent of 1,725 pounds per square foot, which is a record for the area.

Comments (30)

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1:01pm Mon 4 Aug 14

BoscVegas says...

What property boom? Seems to me that there are millions of pounds worth of unsold housing stock.
What property boom? Seems to me that there are millions of pounds worth of unsold housing stock. BoscVegas
  • Score: 14

1:04pm Mon 4 Aug 14

BigAlfromsunnyBournemouth says...

Of course it would be churlish to point out that the houses are only worth what a potential buyer is prepared to pay for them, not what the developer would like to get for them.
Of course it would be churlish to point out that the houses are only worth what a potential buyer is prepared to pay for them, not what the developer would like to get for them. BigAlfromsunnyBournemouth
  • Score: 37

1:14pm Mon 4 Aug 14

Tig says...

"Developers need to maximise the space available in order to make money. It is becoming harder to financially justify building one home on a plot and so we are now seeing two homes appear."
.
So don't knock it down in the first place! Why not renovate? Greener and certainly less intrusive to the street scene.
"Developers need to maximise the space available in order to make money. It is becoming harder to financially justify building one home on a plot and so we are now seeing two homes appear." . So don't knock it down in the first place! Why not renovate? Greener and certainly less intrusive to the street scene. Tig
  • Score: 12

1:27pm Mon 4 Aug 14

billy bumble says...

I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks.

It wouldn't have anything to do with Council Tax would it?
I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it? billy bumble
  • Score: 16

1:51pm Mon 4 Aug 14

BarrHumbug says...

Shock Horror - People in the old days had big gardens scandal !!!!!!!!!

This is nothing special, happens all over the country, take a look at Dawes Ave in Kinson or Columbia Rd. A developer will buy a house, knock it down to create access and then buy up all the adjacent houses back gardens and stick half a dozen bungalows in there. It wouldn't surprise me if you looked at it on a percentage profit if there was more money in that than buying that place at Sandbanks?
Shock Horror - People in the old days had big gardens scandal !!!!!!!!! This is nothing special, happens all over the country, take a look at Dawes Ave in Kinson or Columbia Rd. A developer will buy a house, knock it down to create access and then buy up all the adjacent houses back gardens and stick half a dozen bungalows in there. It wouldn't surprise me if you looked at it on a percentage profit if there was more money in that than buying that place at Sandbanks? BarrHumbug
  • Score: 6

1:51pm Mon 4 Aug 14

Teddy 1 says...

Wouldnt want to live in that area...impossible to get out and about in the tourist season with the traffic jams. ..also nosey tourists looking to work out who lives where. Some of the new houses are looking dated these days.
Wouldnt want to live in that area...impossible to get out and about in the tourist season with the traffic jams. ..also nosey tourists looking to work out who lives where. Some of the new houses are looking dated these days. Teddy 1
  • Score: 20

1:56pm Mon 4 Aug 14

Diesel Dog says...

Sandbanks would have been a great place, but it was built on and ruined.
Sunseeker need to develop an amphibious float car, or Waitrose floating delivery van to enable the elite to continue their lifestyle. Suppose the Poole ratepayers will sub them in 100 years if global warming happens.
Sandbanks would have been a great place, but it was built on and ruined. Sunseeker need to develop an amphibious float car, or Waitrose floating delivery van to enable the elite to continue their lifestyle. Suppose the Poole ratepayers will sub them in 100 years if global warming happens. Diesel Dog
  • Score: 0

1:57pm Mon 4 Aug 14

BarrHumbug says...

Teddy 1 wrote:
Wouldnt want to live in that area...impossible to get out and about in the tourist season with the traffic jams. ..also nosey tourists looking to work out who lives where. Some of the new houses are looking dated these days.
Luckily for them, most of the owners of these places don't live there either ;)
[quote][p][bold]Teddy 1[/bold] wrote: Wouldnt want to live in that area...impossible to get out and about in the tourist season with the traffic jams. ..also nosey tourists looking to work out who lives where. Some of the new houses are looking dated these days.[/p][/quote]Luckily for them, most of the owners of these places don't live there either ;) BarrHumbug
  • Score: 16

2:58pm Mon 4 Aug 14

carl.barrow says...

Sandbanks is a nice area but wouldn't want to live there, ok the views might be nice but stuff the traffic around there.
Sandbanks is a nice area but wouldn't want to live there, ok the views might be nice but stuff the traffic around there. carl.barrow
  • Score: 10

3:48pm Mon 4 Aug 14

jtwoody says...

Echo reporter uncovers secret industry known as "Property Developing".
Shock and horror.
In other news: sky is blue, sea is wet.
Echo reporter uncovers secret industry known as "Property Developing". Shock and horror. In other news: sky is blue, sea is wet. jtwoody
  • Score: 13

4:05pm Mon 4 Aug 14

ragdoll91 says...

I bet Tom Dolye makes a nice bit of commission..
I bet Tom Dolye makes a nice bit of commission.. ragdoll91
  • Score: 2

4:37pm Mon 4 Aug 14

kalebmoledirt says...

Harry move quick before Putin enclave the place due to amount of Russians owning property their.
Harry move quick before Putin enclave the place due to amount of Russians owning property their. kalebmoledirt
  • Score: 1

6:06pm Mon 4 Aug 14

Adrian XX says...

It should be "exclave".
It should be "exclave". Adrian XX
  • Score: -1

6:44pm Mon 4 Aug 14

yousirmesirnosiryousirthankyousir says...

I hope who ever sold the property to a developer pointed out to the original owners this could be done.....otherwise the original property has been under sold. It could be good case for the property ombudsmen be getting a call!
I hope who ever sold the property to a developer pointed out to the original owners this could be done.....otherwise the original property has been under sold. It could be good case for the property ombudsmen be getting a call! yousirmesirnosiryousirthankyousir
  • Score: -3

8:24pm Mon 4 Aug 14

kalebmoledirt says...

billy bumble wrote:
I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks.

It wouldn't have anything to do with Council Tax would it?
Sandbanks poo don't smell
[quote][p][bold]billy bumble[/bold] wrote: I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it?[/p][/quote]Sandbanks poo don't smell kalebmoledirt
  • Score: -1

10:41pm Mon 4 Aug 14

Yankee1 says...

The Council is happy. The property rates will be doubled - trebled - on that tiny plot of land.

That is what speaks. Money. Dosh. Loadsamoney for the Council and Developer. No none cares about Sandbanks, which is incredibly ugly, and overpriced, compared to other millionaire havens around the world, from Monaco to Miami Beach to Malibu.

A point David Beckham acknowledge years ago. And the irony is that, in a century, sea levels will rise to a point that this sandbank becomes vulnerable and inhabitable. Perhaps even sooner............
The Council is happy. The property rates will be doubled - trebled - on that tiny plot of land. That is what speaks. Money. Dosh. Loadsamoney for the Council and Developer. No none cares about Sandbanks, which is incredibly ugly, and overpriced, compared to other millionaire havens around the world, from Monaco to Miami Beach to Malibu. A point David Beckham acknowledge years ago. And the irony is that, in a century, sea levels will rise to a point that this sandbank becomes vulnerable and inhabitable. Perhaps even sooner............ Yankee1
  • Score: 3

12:24pm Tue 5 Aug 14

Tom_BH2 says...

kalebmoledirt wrote:
billy bumble wrote: I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it?
Sandbanks poo don't smell
Hahah! :)
[quote][p][bold]kalebmoledirt[/bold] wrote: [quote][p][bold]billy bumble[/bold] wrote: I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it?[/p][/quote]Sandbanks poo don't smell[/p][/quote]Hahah! :) Tom_BH2
  • Score: -2

1:06pm Tue 5 Aug 14

trolley says...

Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong
Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong trolley
  • Score: -2

1:34pm Tue 5 Aug 14

bogtrotter says...

trolley wrote:
Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong
Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.
[quote][p][bold]trolley[/bold] wrote: Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong[/p][/quote]Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was. bogtrotter
  • Score: 5

6:34pm Tue 5 Aug 14

trolley says...

bogtrotter wrote:
trolley wrote:
Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong
Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.
the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff.
dregs of humanity
[quote][p][bold]bogtrotter[/bold] wrote: [quote][p][bold]trolley[/bold] wrote: Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong[/p][/quote]Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.[/p][/quote]the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff. dregs of humanity trolley
  • Score: -1

7:12pm Tue 5 Aug 14

madras says...

billy bumble wrote:
I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks.

It wouldn't have anything to do with Council Tax would it?
not to mention the stamp duty to central coffers...
[quote][p][bold]billy bumble[/bold] wrote: I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it?[/p][/quote]not to mention the stamp duty to central coffers... madras
  • Score: 0

8:21pm Tue 5 Aug 14

Tripod says...

A lot of money to pay for a property that could easily be below sea-level in a few years.
A lot of money to pay for a property that could easily be below sea-level in a few years. Tripod
  • Score: 0

10:38pm Tue 5 Aug 14

holdinkæft says...

Tripod wrote:
A lot of money to pay for a property that could easily be below sea-level in a few years.
"Both these properties are built over four levels, with the bedrooms on the upper two floors.
So when the sea rises they will have thier own exclusive island. Now thats what i call forward planning.
[quote][p][bold]Tripod[/bold] wrote: A lot of money to pay for a property that could easily be below sea-level in a few years.[/p][/quote]"Both these properties are built over four levels, with the bedrooms on the upper two floors. So when the sea rises they will have thier own exclusive island. Now thats what i call forward planning. holdinkæft
  • Score: 0

12:05am Wed 6 Aug 14

scrumpyjack says...

BoscVegas wrote:
What property boom? Seems to me that there are millions of pounds worth of unsold housing stock.
Really? You must have missed all the figures showing UK prices at an all time high and the most liquid housing market in the last 8 years.
[quote][p][bold]BoscVegas[/bold] wrote: What property boom? Seems to me that there are millions of pounds worth of unsold housing stock.[/p][/quote]Really? You must have missed all the figures showing UK prices at an all time high and the most liquid housing market in the last 8 years. scrumpyjack
  • Score: -1

12:10am Wed 6 Aug 14

scrumpyjack says...

trolley wrote:
bogtrotter wrote:
trolley wrote:
Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong
Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.
the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff.
dregs of humanity
You may not like them but by all this claiming of exploitation and dregs of humanity you just come across as bitter an jealous. Just so you know.
[quote][p][bold]trolley[/bold] wrote: [quote][p][bold]bogtrotter[/bold] wrote: [quote][p][bold]trolley[/bold] wrote: Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong[/p][/quote]Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.[/p][/quote]the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff. dregs of humanity[/p][/quote]You may not like them but by all this claiming of exploitation and dregs of humanity you just come across as bitter an jealous. Just so you know. scrumpyjack
  • Score: -1

9:32am Wed 6 Aug 14

Adrian XX says...

Yankee1 wrote:
The Council is happy. The property rates will be doubled - trebled - on that tiny plot of land.

That is what speaks. Money. Dosh. Loadsamoney for the Council and Developer. No none cares about Sandbanks, which is incredibly ugly, and overpriced, compared to other millionaire havens around the world, from Monaco to Miami Beach to Malibu.

A point David Beckham acknowledge years ago. And the irony is that, in a century, sea levels will rise to a point that this sandbank becomes vulnerable and inhabitable. Perhaps even sooner............
Yes, I think if I had a spare sack of dosh I would spend it on a property in the Danube Delta (in Romania).
[quote][p][bold]Yankee1[/bold] wrote: The Council is happy. The property rates will be doubled - trebled - on that tiny plot of land. That is what speaks. Money. Dosh. Loadsamoney for the Council and Developer. No none cares about Sandbanks, which is incredibly ugly, and overpriced, compared to other millionaire havens around the world, from Monaco to Miami Beach to Malibu. A point David Beckham acknowledge years ago. And the irony is that, in a century, sea levels will rise to a point that this sandbank becomes vulnerable and inhabitable. Perhaps even sooner............[/p][/quote]Yes, I think if I had a spare sack of dosh I would spend it on a property in the Danube Delta (in Romania). Adrian XX
  • Score: 0

11:41am Wed 6 Aug 14

bogtrotter says...

trolley wrote:
bogtrotter wrote:
trolley wrote:
Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong
Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.
the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff.
dregs of humanity
What are you talking about? How can you dislike people by stereotyping them for being wealthy? Many property developers start out with small budgets and have to work extremely hard to make any profit at all. What would happen if the person doing this spent £3m and hit financial problems meaning the project had to be discontinued? It's all risk vs reward, good luck to those bold enough to do it. You also clearly don't understand the word 'exploitation', look it up. I don't you'll find many people that get exploited when they own and sell a property worth £4.5m.
[quote][p][bold]trolley[/bold] wrote: [quote][p][bold]bogtrotter[/bold] wrote: [quote][p][bold]trolley[/bold] wrote: Shock horror the rich get richer by exploitation and dishonesty,the very finest specimens of capitalism gone wrong[/p][/quote]Where is the exploitation in this story? Someone bought a property for the price the seller was willing to sell at and then pumped £3m+ in to developing it to make a profit. That's a basic business called property development which is 100% legal if approved by local authorities which I'm guessing it was.[/p][/quote]the types of creatures that have this kind of cash available do so by unscrupulous means and exploitation.i have known many developers and people who posess loads of cash and materialistic stuff. dregs of humanity[/p][/quote]What are you talking about? How can you dislike people by stereotyping them for being wealthy? Many property developers start out with small budgets and have to work extremely hard to make any profit at all. What would happen if the person doing this spent £3m and hit financial problems meaning the project had to be discontinued? It's all risk vs reward, good luck to those bold enough to do it. You also clearly don't understand the word 'exploitation', look it up. I don't you'll find many people that get exploited when they own and sell a property worth £4.5m. bogtrotter
  • Score: 0

12:50pm Wed 6 Aug 14

Letcommonsenseprevail says...

billy bumble wrote:
I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks.

It wouldn't have anything to do with Council Tax would it?
Yes, I wonder..............
...... What on earth could be encouraging them to allow such development to go on..................
........
[quote][p][bold]billy bumble[/bold] wrote: I wonder why the Planning Committee did not have regard to the already badly overburdened sewage system in Sandbanks. It wouldn't have anything to do with Council Tax would it?[/p][/quote]Yes, I wonder.............. ...... What on earth could be encouraging them to allow such development to go on.................. ........ Letcommonsenseprevail
  • Score: 0

12:51pm Wed 6 Aug 14

Letcommonsenseprevail says...

Gonna laugh my **** off when the sea levels rise a bit!!!!
Gonna laugh my **** off when the sea levels rise a bit!!!! Letcommonsenseprevail
  • Score: 0

1:22pm Wed 6 Aug 14

bogtrotter says...

Letcommonsenseprevai
l
wrote:
Gonna laugh my **** off when the sea levels rise a bit!!!!
If you live to be about 400 years old you just might :)
[quote][p][bold]Letcommonsenseprevai l[/bold] wrote: Gonna laugh my **** off when the sea levels rise a bit!!!![/p][/quote]If you live to be about 400 years old you just might :) bogtrotter
  • Score: 0

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