A four-bedroom home has become one of the most expensive properties sold on ‘Millionaire’s Row’ in Sandbanks after a businessman bought the waterside bungalow for a record £13.5million.
The chalet had been passed down from generation to generation of the same family for the last 117 years, after a Victorian botanist bought a piece of land on the peninsula in Poole Harbour, Dorset, for about £1,000 in 1906.
Called North Haven Point, the bungalow was extended in the 1950s and now has a floor space of just 2,909sq ft.
The price paid for it equates to £4,640 per square foot, beating the value of property in sought-after locations such as Monaco, Hong Kong and New York.
Called North Haven Point, the bungalow was extended in the 1950s and now has a floor space of just 2,909sq ft
The four-bedroom home has become one of the most expensive properties sold on ‘Millionaire’s Row’ in Sandbanks (pictured)
Its proud new owner is Tom Glanfield, a self-made multimillionaire who started a recruitment business 20 years ago with a student loan.
Mr Glanfield, in his early 40s, described the potential for the property as ‘huge’. It occupies a 1.4 acre corner plot, by far the biggest piece of real estate on the Millionaires’ Row.
He plans to demolish the bungalow and replace it with a luxurious eco home that will cost at least £5million to build.
The investment will also see the upgrading of the sea defence walls at the bottom of the garden.
The living room of North Haven Point, on Millionaire’s Row in Sandbanks
Due to its corner location, the property will have a stunning 270 degree view of Poole Harbour, the world’s second biggest natural harbour behind Sydney.
Mr Glanfield posted on social media: ‘Proud to take my own small slice of Sandbanks. It’s nothing fancy, but I fought hard for it and the potential is huge. Got some work to be done ahead, like repairing all the sea defences.
‘But I fell in love immediately with the view and its rustic charm, could sit at the end of the garden and never want to move again.’
Sandbanks – Britain’s answer to Miami Beach – has been one of the most desirable places to live in the UK for over 20 years.
In 2000 the strip of land was named the fourth most expensive place to buy residential property in the world, behind Tokyo, Hong Kong and London.
Harry and Sandra Redknapp have owned two houses there while Sky Sports pundit Graeme Souness lives close by. Celebrity interior designer Celia Sawyer also lives on Sandbanks.
The property’s new owner Tom Glanfield plans to demolish the bungalow and replace it with a luxurious eco home that will cost at least £5m to build.
According to a 2022 survey by estate agents Savills, Monaco was the most desirable place in the world for property which sells for the equivalent of £4,374 per square foot.
Hong Kong was next at £3,775 followed by New York (£2,150), Geneva (£1,875), Tokyo (£1,850), Shanghai (£1,850) and London (£1,741).
Robert Dunford, of estate agents Tailor Made, which handled the sale, believes demand for waterside property around Poole Harbour has increased even more since the pandemic.
He said: ‘About 20 years ago Sandbanks was the fourth most expensive place in the world to buy residential property
‘Since then, other parts of the world have risen up and overtaken the area.
‘But demand and prices for waterfront property in Britain has rapidly increased following Covid.
‘People have realised they can work from home and don’t need to be tied to an office in London.
‘They have reevaluated their work-life balance and places like Sandbanks seem to be even more desirable now and this sale reinforces that.
‘The location brings with it the lifestyle. You have Poole Harbour, award winning sandy beaches and the Jurassic Isle Of Purbeck as your playground.
‘The new owner of North Haven Point has bought the home for its location, size and privacy of the plot with its extensive harbour frontage. I believe he is looking to embrace green credentials, working with the protected trees, and create something truly special.
‘The plot is over 1.4 acres, in the stunning southwest section on Sandbanks Peninsula, it really is the best corner plot I’ve ever had the pleasure of representing locally.
‘It is a double aspect corner plot that captures the sun all day.’
The bungalow had been owned by four generations of the Hooker family. The plot was bought by Sir Joseph Dalton Hooker who was one of the most important botanists of the 19th century, a friend of Charles Darwin and the first director of Kew gardens.
The ground floor has a living room, dining room and kitchen, utility rooms, store room, pantry and office. The first floor, which was extended in the 1950s, has the master en-suite bedroom, a guest bedroom suite and two more bedrooms.
The outgoing owner said: ‘The uninterrupted views are magnificent.’