A tiny garage on the exclusive Sandbanks peninsula has sold for more than £600,000 despite having no running water or electricity – but the new owner could build a ‘nice little beach house’ worth £1million in its place.
The storage unit, which measures a modest 19ft wide and 95ft long, is nestled yards from the beach in the heart of the Millionaire’s Playground in Dorset, where the likes of Harry Redknapp have previously owned property.
It was purchased by a wealthy watersports enthusiast, who beat off competition from 17 other serious bidders to secure the 1950’s built garage. It is understood he plans to store his jet-ski and other watersports equipment in it.
However, the new owner could potentially apply for planning permission to demolish the single-storey garage and build a ‘nice little beach house’ worth up to £1million in its place.
The run-down garage has belonged to a family who own a holiday home on Sandbanks for more than 60 years.
It is not possible to take out a mortgage on the garage, so it was only offered to cash buyers through sealed bids.
The storage unit, which measures a modest 19ft wide and 95ft long, is nestled yards from the beach in the heart of the Millionaire’s Playground in Dorset, where the likes of Harry Redknapp have previously owned property
It was purchased by a wealthy watersports enthusiast, who beat off competition from 17 other serious bidders to secure the 1950’s built garage. It is understood he plans to store his jet-ski and other watersports equipment in it
The tiny garage (bottom middle) is around 30 yards from the idyllic beach in Sandbanks near Poole, Dorset
Although no estimate price was given for the property, Rightmove had placed it around other properties priced at £400,000 in its listing.
Sandbanks is one of the most sought-after locations in the UK, with the seafront home to around 70 properties.
Giles Hilliard, of Lloyds estate agents of Poole, said: ‘The wining bidder is an avid watersports fan from Hampshire who visits the area a lot to use the water.
‘We had 18 bids on the table for the garage and it sold for in excess of £600,000.
‘It is a huge amount of money to pay for a garage but we have got used to property on Sandbanks changing hands for massive sums.
‘The garage is a bit run down and it doesn’t have any running water or electricity. It is also hidden away between a block of flats and a detached house.
The run-down garage has belonged to a family who own a holiday home on Sandbanks for more than 60 years
The garage, which has ample space for development at the back, is close to the former home of Harry and Sandra Redknapp. The couple sold the £7 million property and moved off the peninsula last year
The interior of the tiny garage had previously been filled with watersports equipment and used as a storage space
The exclusive Sandbanks peninsula in Poole, Dorset, is seen surrounded by water, with boats anchored nearby
‘But it is literally a stone’s throw from the beach so is ideal for keeping watersports craft in.
‘In time the new owner might put in a planning application to put a nice little beach house on the site but for now he will use it for storage and keep all of watersports toys in there.’
The garage, which has ample space for development at the back, is close to the former home of Harry and Sandra Redknapp. The couple sold the £7 million property and moved off the peninsula last year.
Sandbanks is often referred to Britain’s version of Miami Beach.
Sandbanks is one of the most sought-after locations in the UK, with the seafront home to around 70 properties
For the same amount of money paid for the Sandbanks garage, the new owner could have bought a six bed detached house in Leeds or an eight bed house with a holiday cottage on the Isle of Mull in Scotland
It is said to be the fourth most expensive place in the world to buy real estate, behind Hong Kong, Tokyo and London’s Belgravia.
Its waterfront mansions sell for upwards of £10million while holiday apartments that lay empty for most of the year are worth up to £4million.
For the same amount of money paid for the Sandbanks garage, the new owner could have bought a six bed detached house in Leeds or an eight bed house with a holiday cottage on the Isle of Mull in Scotland.