An exclusive British resort has become one of the world’s most expensive places to live per square foot after a bungalow sold for £13.5 million.
The property in Sandbanks, Dorset is a luxurious four-bedroom home known as North Haven Point.
It has a floor space of 2,909sq ft. but was sold for £13.5m, which means it is worth £4,640 per square foot.
The hefty price tag compares to some of the world’s most expensive properties in Monaco, New York and Hong Kong.
The new owner of the bungalow, Tom Glanfield, posted a picture of him and the previous owner in front of the house on Instagram.
Mr Glanfield, a self-made millionaire, wrote: “From a generation to the next - Big day today, proud to take my own small slice of sandbanks. It’s nothing fancy, but 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.”
The property had previously been in the same family for 117 years, handed down over 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.”
The bungalow sits on Poole harbour and boasts an idyllic view of the coast.
The scenic views are also loved by celebrities, with Harry Redknapp having previously lived in the area.
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.”
