18 hours ago
Tiny bungalow in 'millionaire's playground' overlooking Sandbanks goes on sale again after 70 years for £1.5m - but there's one big catch
A tiny bungalow that was bought for £5,000 nearly 70 years ago is now up for sale for £1.5m thanks to its stunning views of Sandbanks - but it comes with some healthy caveats.
The property is situated on Shore Road on the edge of Poole Harbour, Dorset, with the luxury millionaire's playground immediately visible to the east from the south-facing front terrace.
The bungalow had been owned by the same family since 1957 - and is commanding a huge price because of its luxury location.
In that time Sandbanks has become one of the most desirable places on the planet to buy property in Britain.
It has now come onto the market as part of a probate sale.
Although the original purchase fee of £5,000 is worth around £170,000 today, it can command a seven figure asking price due to its exclusive location.
But any new buyer must be aware of the house's desirable location comes at another price - one that locks down what can and can't be done with the house.
For those who like its period charm but think it could do with a little height - think again.
A covenant attached to the property states the one-storey bungalow cannot be extended upwards.
The formal agreement means whoever buys the three bedroom property will be limited with what they can do with it.
For those less attached to its tiny charm, the estate agents selling the bungalow say it can be demolished and rebuilt into a contemporary home or be extended to the back.
Elliot Whitehead, of Lloyds Property Group, said: 'This is a rare opportunity to acquire a prime coastal home that is in a fabulous location and offers direct access to the Sandbanks lifestyle.
'It has incredible views of Poole Harbour and is within moments of Sandbanks' award-winning beaches, fine dining and yacht clubs.
'Due to the covenant, the new owner won't be able to go up but they could come out a little bit. It has quite a large garden and potential to extend at the back.'
In its present form the bungalow has a large lounge and dining room, with patio doors that open out to the front garden and have views of the harbour beyond.
The modest kitchen has a utility room off of it and at the back are two double bedrooms and a lean-to conservatory. There is also an integral garage.
Waterfront properties in the exclusive resort sell for millions of pounds - though property experts have recently warned that the Sandbanks boom could be over as the ultra-rich flee to other parts of the world.
Lola May Massingham, CEO and Founder of Prime Coastal Property, told the Mail in July: 'There's been a big difference in how the market has changed in the last 12 months.
'You'd expect this time of year to be really busy because that's when everyone comes down, but it has been quieter.
'There's a lot of properties on the market and not enough buyers. That's the honest truth.'
The record price for Sandbanks stands at £13.5m paid in 2023 by entrepreneur Tom Glanfield for a colonial-style bungalow on the largest plots on the peninsula.
Among its famous residents is former football manager Harry Redknapp - whose wife Sandra had her jewellery stolen from their £5m Sandbanks retreat in July.
