Run down’ garage with no running water or electricity sells for jaw-dropping £600k

A “run down” garage which is more than 70 years old has sold for the eye-watering price of £600,000 – more than double the average house price in Britain.

The storage unit, which is 19ft wide and 95ft long, bears the exact features one would find in any old garage.

But its location is what makes it exclusive as it’s just a stone’s throw away from the beach in Sandbanks, said to be one of the most expensive areas in the world for properties.

It is also on a plot of prime estate real estate in the heart of the Millionaire’s Playground in Dorset, and has belonged to a family with a holiday home in the area for 60 years.

The new owner might also try to get planning permission to build a “nice little beach house” worth £1m in its place.

He had to bid against 17 others in order to purchase the 1950s built garage, which is close to the former home of Harry and Sandra Redknapp.

The lucky bidder is understood to be a wealthy water sports enthusiast who plans to store his jet-ski and other such equipment in it for the time being.

But he could end up applying for planning permission to demolish the single-storey garage on Banks Road.

As it is not possible to take out a mortgage on the garage, it was only offered to cash buyers through sealed bids.

Giles Hilliard, of Lloyds estate agents of Poole, said: “The wining bidder is an avid water sports 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.

“But it is literally a stone’s throw from the beach so is ideal for keeping water sports 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 water sports toys in there.”

The celebrity couple sold up and moved off the peninsula last year.

Sandbanks is often referred to Britain’s version of Miami Beach.

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 £10m while holiday apartments that lay empty for most of the year are worth up to £4m.

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.