SEA IT TO BELIEVE IT
30ft wide plot of grass overlooking Dorset’s Sandbanks resort sells for whopping £3.5million
AN EMPTY plot of overgrown grass and uneven concrete has sold for a whopping £3.5million.
The 30ft-wide strip of land overlooks Dorset's exclusive Sandbanks resort and has one of the finest views of Millionaire's Row - home to football manager Harry Redknapp.
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Mansion homes on the rich street sell for up to £10m and the newly-purchased land runs all the way down to the edge of Poole Harbour.
It also has a slipway for launching boats straight onto the water.
But the new owner, who paid the full asking price for the plot, will have to get planning permission before they can actually build their own luxury pad on it.
It is thought the build cost would be in excess of £1m.
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The mind-boggling figures are par for the course for the Sandbanks area, which is the fourth most expensive place in the world to buy property.
It is renowned for its seven miles of golden beaches, beautiful parks and gardens and is home to celebrities galore.
One current resident is football manager and former King of the Jungle Harry Redknapp, who lives in a beachfront mansion with his wife Sandra.
And although the just-bought half-an-acre plot is about a mile from the exclusive peninsula, seafront properties around the harbour remain in huge demand.
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Many Brits are looking to buy holiday homes in the UK rather than abroad due to the ongoing uncertainty around coronavirus and Brexit.
London-based buyers are also now said to be casting their net further from the capital as the pandemic has shown they can work from home.
Tom Doyle, of Sandbanks estate agents Lloyds Property Group, which sold the plot, said: "To anybody outside the area it might seem madness to pay £3.5m for a vacant plot of land.
"But people pay a premium for water frontage property and houses on that road sell for between £6m and £7m. It does attract high net-worth individuals.
"It is a very vibrant market at the moment. Why is that? A lot of people are thinking seriously about not having a second home abroad and focusing on securing something exciting in the UK.
"Working and living away from London is also a factor. The mindset seems to be to go into the city one day a week and then work from home for the rest of it."
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Mr Doyle added: "The new owner is going to build a house there himself to live in. He will not be putting it back up for sale when it is complete.
"He already lives locally but he wants a house on the water which is what this will be."
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The plot is on Dorset Lake Avenue and faces south west.
On its website, Lloyds Property Group states that it is "prime waterfront location" on the "gateway to Sandbanks".
Sandbanks street with 13 waterfront mansions in world’s most expensive coastal road at £93MILLION
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