What made this modest three-bedroom house worth £5 million? It sits on one of the undeveloped waterside plots on Sandbanks' exclusive enclave.
A regular 1960s property on the sandy peninsula in Poole, Dorset will not get as much interest to prospective buyers. The thing is, it is located on a very interesting plot that can demand such amount, according to Daily Mail.
Anyone who buys this two-storey house, which has been with the same family for five decades, will likely just demolish it to build a modern mansion.
Lloyds Property Group said that the property is sitting on one of the finest water-front plots on Sandbanks. It is located on the north shore part of the peninsula and has picturesque views of the Poole Harbour. This is going to be the first time the property has been listed for 50 years, and opportunities to build a new house are scarce.
The listing on its website states (via The Telegraph) :
"The site is quite historic with connections to the first lifeboat house, which was one of the first parts of the Sandbanks peninsula to be developed in the 19th century. The nearby Coastguard Cottages were constructed in the 1870s to accommodate the lifeboat crews and their families until 1882. The old Coastguard Station House remained on the site for part of the 20th Century until it was acquired by a prominent local family who built the current property, known simply as 'Coastguards' in the early 1960s."
The potential new house would cover more than 8, 000sq ft. in floor space and have a separate boat store at the back. It is estimated to cost between £1.5 million and £2 million to build such a house on the plot, but once it is completed it could worth more around £8 million.