Sandbanks in Poole: empty plot on sale for £6.25 million

Sandbanks in Poole may be a decent rival to Mayfair for the craziest house prices in the UK. The latest evidence for this is a plot of land, which has hit the market for a staggering £6.25 million. But can it be worth it?

Desirable

The land is one of the most attractive on this massively overpriced bit of land. It has direct access to the beach, and two-way views over Poole Harbour. With big enough floor-to-ceiling windows, it would be like living on Britain's most expensive beach.

It's hard to imagine, but this could actually work out as a reasonable investment. The plot was home to two houses, but they have been demolished and the developers have gone to the trouble of getting planning permission for two replacement four-bedroom houses.

The estate agent blurb says that these have all the millionaire trappings you can handle - including their own gyms and swimming pools, a wrap-around terrace, enormous ocean views, and steps down to the beach.

Building them could cost as little as £1 million, and once built, they could easily fetch £6 million each. They are only two doors down from the most expensive house in the area (per square foot), which recently sold for £1,725 per square foot.

It means that a keen developer could pay the asking price, build the homes, and still make a decent profit - assuming house prices in the area hold up. Alternatively, someone with plenty of ambition and deep pockets could use the plot to design a mega-mansion, and try to get planning permission for that instead.

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Overpriced

However, the current asking price is actually £2 million more than the combined total of the two houses when they were for sale, and when you boil the price down, you're actually looking at an incredible £1,161 per square foot of dirt.

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Sandbanks is a major draw for celebrities - especially footballers who have snapped up properties on the peninsular. However, if you have £6.25 million to spend, there are several other perfectly lovely stretches of the south coast of England where this will get you far more than a patch of dirt.

For just £4 million there's a seven bedroom Cape Dutch-style house in Flushing, with direct access to Falmouth Harbour - you even get your own boathouse thrown in. And for £6.5 million there's an 11-bedroom house in Lepe in Hampshire, with stunning views of the Solent from the western heptagonal tower. This property has a two-bedrom cottage included in the price too.

But what do you think? Is the exclusivity of Sandbanks worth the extra cash, or would you rather get more for your money elsewhere?

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