The Sandbanks doer-upper: 1970s house on one of the best plots on exclusive Dorset peninsula is tipped for £7M sale… but the new owners will need to spend ANOTHER £3M to build dream home
- A property on the exclusive Sandbanks peninsula in Dorset is on sale for £7m
- The owner has planning permission to turn 1970s house into futuristic home
- However potential buyers will need to fork out an additional £3m for the build
A property on one of the best plots on Sandbanks is tipped to sell for £7m – but the buyer faces spending another £3m to build their dream home.
The current house that sits on the water’s edge on the renowned Millionaire’s Row was built in the 1970s.
The traditional shape of the six-bedroom home now looks outdated compared to the flat-roofed modern mansions on the perimeter of the posh peninsula in Poole Harbour.
With that in mind, owner Paul Pressland has secured planning permission to demolish 96 Panorama Road and replace it with an architecturally designed, three storey cube house.
According to CGI plans, the futuristic eight bedroom home will back on to the harbour and have its own boat store and private jetty for direct water access.
The property developer, who bought the house in 2003 for £2.7million, is auctioning the property off tomorrow.
It has a guide price of £6m but is likely to go for another million on top of that.
A property on ‘Millionaire’s Row’, on one of the best plots on Sandbanks, is tipped to sell for £7m
The detached six-bed house sits on the water’s edge on the perimeter of the posh peninsula in Poole Harbour
The current owner has planning permission to turn the outdated 1970s house into a larger and more modern building
https://youtube.com/watch?v=28CO0Gk_GwY%3Frel%3D0%26showinfo%3D1%26hl%3Den-US
Planning permission has been secured to demolish 96 Panorama Road and replace it with a three-storey cubed house
Positioned on the west side of Sandbanks, the luxury property will have stunning views of Poole Harbour and Brownsea Island beyond.
If the winning bidder chooses to go ahead with the approved plans, it would cost almost £3m to build the 8,000sq ft house.
The potential £10m outlay is in keeping with the value of the most luxurious mansions on Sandbanks and £3m under the current record price paid for one.
Nigel Still, of estate agents Stephen Noble which has been marketing the property, said: ‘It is in a super position on the west side on the peninsula which is regarded as the prime section of Sandbanks as you get the afternoon and evening sun and the most outstanding views to Brownsea Island.
‘There is direct water frontage and the sea there is more sheltered and safer and away from the boat traffic and the rip tide that there is at the harbour entrance.
The potential £10m outlay is in keeping with the value of the most luxurious mansions on Sandbanks and £3m under the current record price paid for one
New owners of the property may instead choose to remodel the house rather than demolish it
The luxury property has a stunning view of Poole Harbour and Brownsea Island (pictured)
The designs for the new building offers covered parking for several cars and a large driveway
The sleek modern design of the property will be in fitting with the neighbouring properties
‘The current owners obtained planning consent for a magnificent new contemporary house with the added advantage of rare consent for a brand-new jetty and slipway.
‘Alternatively, the new owner may wish to remodel the current house.
‘Either way, this is still a rare opportunity to acquire one of the finest plots on Sandbanks.’
Before planning permission was granted, some local residents raised objections that the proposed design was over-development and its raised terraces would overlook neighbouring homes.
Planning permission for a new house was granted in 2016 with a condition that building work had to start within three years.
Works on the footings commenced but got no further. Because the project had technically started, the planning consent would last in perpetuity.
Once built, the new mansion will have nine bedrooms including a huge master suite on the top floor with a dressing room, bathroom and balcony. It will have two studies, a gym, a massive open-plan living area and a sun terrace.
Mr Pressland 55, is from Poole but has been a successful commercial property developer in London.
The property is being auctioned by Allsop Auctions in London.
Source: Read Full Article
