Bungalow bought for £5,000 now costs £1.5 million: what condition restricts the new owner.

A bungalow that was purchased for just £5,000 almost 70 years ago is now up for sale for an impressive £1.5 million. The property, located on Shore Road in Dorset, offers stunning views of the sea and is in close proximity to Sandbanks, a luxurious millionaire's paradise.

According to The Sun: Owned by the same family since 1957, the bungalow has become a valuable asset due to the increasing desirability of Sandbanks as a prime real estate location. Despite the original purchase price of £5,000 being equivalent to around £170,000 at present, the property is now being sold for a seven-figure sum.

The bungalow, part of a probate sale, comes with a covenant prohibiting any upward extensions. However, there is potential for the property to be rebuilt or extended at the back, providing additional space for the new owners. The interior includes a spacious lounge, dining room, two double bedrooms, a conservatory, and a smaller kitchen and utility room.

The property also features an internal garage for vehicles. Elliot Whitehead of Lloyds Property Group mentioned, 'This is a rare opportunity to acquire a prime coastal home that offers direct access to the Sandbanks lifestyle, with incredible views of Poole Harbour and close proximity to award-winning beaches, fine dining, and yacht clubs.'

Homes in Sandbanks typically sell for millions, with notable residents like Harry Redknapp, Celia Sawyer, and Tom Glanfield. The bungalow's enviable location near the beach and breathtaking views make it an attractive investment opportunity for those looking to buy real estate in the sought-after area.