Sandbanks bungalow sold for £13.5M is one its most expensive homes

A four-bedroom house has become one of the most expensive properties sold on ‘Millionaire’s Row’ in Sandbanks after a businessman bought the waterfront bungalow for a record £13.5 million.

The chalet had been passed down from generation to generation of the same family for the past 117 years, after a Victorian botanist bought a piece of land on the peninsula in Poole Harbour, Dorset, for around £1,000 in 1906.

Named North Haven Point, the bungalow was expanded in the 1950s and now has a floor space of just 2,909 square feet.

The price paid for it equates to £4,640 per square foot, which is better than property values ​​in desirable locations such as Monaco, Hong Kong and New York.

The four-bedroom home has become one of the most expensive properties sold on ‘Millionaire’s Row’ in Sandbanks (pictured)

The proud new owner is Tom Glanfield, a self-made multimillionaire who started a recruiting company 20 years ago on a student loan.

Mr Glanfield, in his early forties, described the potential for the property as ‘huge’. It occupies a 4-acre corner lot, by far the largest piece of real estate on Millionaires’ Row.

He plans to demolish the bungalow and replace it with a luxury eco-house that will cost at least £5 million to build.

The investment also includes the upgrade of the sea wall 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 has stunning 270 degree views of Poole Harbour, the world’s second largest natural harbor behind Sydney.

Mr Glanfield posted on social media: ‘Proud to take my own piece of Sandbanks. It’s nothing special, but I fought hard for it and the potential is huge. I’ve got some work to do, like repairing all the seawalls.

“But I immediately fell in love with the view and the rustic charm, could sit at the end of the garden and never want to move.”

Sandbanks – the UK’s answer to Miami Beach – has been one of the UK’s most desirable places to live for over 20 years.

In 2000, the strip of land was named the fourth most expensive place in the world to buy housing, after Tokyo, Hong Kong and London.

Harry and Sandra Redknapp have owned two homes there, while Sky Sports pundit Graeme Souness lives nearby. 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 luxury eco-house that will cost at least £5 million to build.

According to a 2022 survey by estate agents Savills, Monaco was the most desirable place in the world for property selling for the equivalent of £4,374 per square foot.

Hong Kong was next with £3,775, followed by New York (£2,150), Geneva (£1,875), Tokyo (£1,850), Shanghai (£1,850) and London (£1,741).

Robert Dunford, of broker Tailor Made, who handled the sale, believes demand for waterfront properties around Poole Harbor 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 housing

“Since then, other parts of the world have revolted and caught up with the area.

“But demand and prices for waterside property in Britain have risen rapidly in the wake of Covid.

“People have realized that they can work from home and not be tied to an office in London.

“They’ve re-evaluated their work-life balance and places like Sandbanks now seem even more attractive 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 bought the house because of the location, size and privacy of the lot with its extensive harbor frontage. I believe he wants to embrace green credentials, work with the protected trees and create something very special.

‘The lot is over 3 acres, in the beautiful southwestern part of the Sandbanks Peninsula, it really is the best corner lot I’ve ever had the pleasure of representing locally.

‘It’s a dual aspect corner plot that catches 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, 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, pantry, storage room, pantry and office. The first floor, extended in the 1950s, has the master bedroom with en-suite bathroom, a guest suite and two further bedrooms.

The departing owner said, “The unobstructed view is magnificent.”