Home in need of renovation to sell for £1.6m

A decrepit 1960s bungalow went onto the market for £1.6 million yesterday due to its highly sought-after location in Dorset.

The three-bedroom property is situated the fourth most expensive area in the world to live which is the exclusive Sandbanks in Poole, Dorset.

Panoramic sea views have boosted the property to well over the million pound mark despite the bungalow being old-fashioned in interior and exterior.

Keith Fensom, from Savills estate agent which is selling the property, said: "It really does offer a blank canvas for any potential purchaser to invest in a very well-known location with the most gorgeous views."

The average price of homes in the area is over £500,000 and with the additional half an acre of real estate which comes with the property, it is ripe for being renovated or rebuilt.

Apparently, Chelsea boss Roman Abramovich is one of the prospective buyers of the homes and had issued a sealed bid to the vendor. He moors his 280 foot yacht nearby in Poole Harbour.


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