By Richard Savill
The Telegraph
(Filed: 02/11/2005)
A run down Bungalow bought recently for £3 million
A dilapidated three-bedroom bungalow on the exclusive Sandbanks peninsula in Poole, Dorset, has sold for £3 million; its 21ft by 8ft concrete garage is valued at £200,000.
Sandbanks is the fourth most expensive place to live in the world, behind Shoto in Tokyo, Barker Road on The Peak in Hong Kong, and Eaton Square, London, said a recent survey conducted by a New York estate agent.
The new owner, believed to be a businessman with a publishing house, plans to knock down the bungalow and spend £1 million building a family house.
Sandbanks Poole Dorset
Francis Payne, a partner in the estate agents Tailor Made, which sold the property, said he was not surprised by the price. "It just goes to show how sought after property is on Sandbanks at the moment. It really is pretty run-down inside and would need total renovation."
The bungalow, called Flintshore, has a beach-front location with views across the sea to Old Harry Rocks near Swanage and out to The Needles of the Isle of Wight.
Neighbours include the Computacentre owner Sir Peter Ogden, the Southampton football manager Harry Rednapp and the Body Shop partner Ian McGlyn.
Gill Emeny, of Tailor Made, said the value of the bungalow was "in the plot which is next to the sea and has wonderful views."
She added: "Sandbanks is extremely popular, especially with plc chairmen.
"There are no arcades, amusements or nightclubs. It is quiet and private with lovely beaches and moorings.
"We have sold about £20 million worth of property in two months on Sandbanks - from luxury apartments to a £5 million house.">
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