An entrepreneur who bought ‘the world’s most expensive bungalow’ on a road known as Millionaire’s Row has revealed it has a ‘death trap’ swimming pool, a leaking roof and is filled with mould.
Tom Glanfield, 44, bought North Haven Point in Dorset’s exclusive Sandbanks resort for £13.5million last month and faced criticism over plans to demolish the home.
But the recruitment boss has responded to the backlash by revealing the unpleasant appearance of the property’s interior – detailing how he needs to invest up to £1million for new sea defences alone.
He says the bungalow currently ‘relies on obscene amounts of oil’, has mould and mildew a cracked concrete driveway.
While his neighbours have huge garages, electric gates and hot tubs, Mr Glanfield plans to transform the property into a sustainable family eco home, complete with renewable power and a desalination facility.
Recruitment boss Tom Glanfield (pictured), 44, bought North Haven Point in Dorset’s exclusive Sandbanks resort for £13.5million last month
Mr Glanfield has described the swimming pool at his newly-purchased bungalow as a ‘death trap’ that is in need of renovation, with pictures showing how it has fallen into disrepair
Sandbanks – Britain’s answer to Miami Beach – has been one of the most desirable places to live in the UK for over 20 years due to its position at Poole Harbour
The father-of-two, who earned his fortune after using a £9,000 student loan to start a recruitment business in his friend’s attic, said he will ensure the home retains its beauty.
He added: ‘Despite the property appearing in reasonable shape from a distance, it was clear on inspection that years of exposure had taken its toll.
‘Although it clearly hasn’t been updated for some time, unfortunately, the problems run much deeper.
‘The current house has nothing in the way of insulation and relies on obscene amounts of oil to heat it.
‘I’m keen to create something that is completely efficient and passive. My dream is to build a family home that will not only retain the modest beauty of the plot but will stand the test of time.
‘Some people have said it would be a shame to replace the property, but they probably haven’t inspected it too closely.
‘Some people have told me they are glad it has been purchased by a local person and not a developer.
‘I think most developers would put at least two houses on this plot.’
The self-made multi-millionaire has also said he wants to replace the creaking bungalow with a sustainable family eco-friendly home that will ‘stand the test of time’, complete with renewable power and a desalination facility.
The property comes with a Formica kitchen and outdated cork ceiling tiles. It has been billed as a bungalow, but has stairs that lead to a second floor room.
The recruitment boss has responded to criticism over his renovation plans by detailing how he needs to invest up to £1million for a new sea defence alone
Mr Glanfield (pictured right sitting on a deck chair in the living room of the bungalow) said the property is at increased risk from tidal storm surges. Left: The property before Mr Glanfield snapped it up
Mr Glanfield (left) says the current bungalow has nothing in the way of insulation and relies on obscene amounts of oil to keep it warm
Pictures from when the property was fully furnished (above) show one double bedroom with a large window providing a glorious view of the harbour
The previous owners also had a bedroom with two single beds and a large window again looking onto the glorious views of the harbour
But the recruitment boss has explained how the expensive bungalow is in desperate need of a complete overhaul, with a dilapidated airing cupboard showing cracks in the door and shelving
Sleeping bags and pillows on the floor of the newly-purchased property, which Mr Glanfield plans to convert into a tasteful family eco-home
The property comes with a Formica kitchen (pictured) and cork ceiling tiles, but has undergone little change since the 1950s and is in need of modernisation
The cork ceiling tiles above the kitchen, which is also said to have no insulation to protect from cooler conditions in the winter months
The father-of-two, who earned his fortune after using a £9,000 student loan to start a recruitment business in his friend’s attic, said he will ensure the home retains its beauty
Due to its corner location, the property will have a stunning 270 degree view of Poole Harbour, the world’s second biggest natural harbour behind Sydney.
Outside, there is a rickety five-bar gate and a tumbledown garage, as well as the ‘death trap’ concrete swimming pool.
Mr Glanfield plans to replace the existing bungalow with a low-rise family home, which will become his main residence.
With a floor space of 2,909 sqft, the price works out at £4,640 per sqft – the most expensive anywhere in the world, beating New York, London, and Hong Kong.
He also plans to replace the dilapidated tidal wall which will protect the home.
Mr Glanfield continued: ‘As a long-term resident of Poole, I certainly do not want to build anything that detracts from the natural beauty of the area, or that negatively impacts any of my friends and neighbours.
‘Unfortunately, the current house is extremely inefficient and does not meet modern building standards. As with all seafront properties, years of exposure has taken a huge toll. Furthermore, the existing property is at increased risk from tidal storm surges.
‘My dream is to build a permanent family home that will stand the test of time, using sustainable building methods, locally sourced materials, and calling on local tradesmen to carry out the building work.
‘Importantly, any property here needs to be futureproofed against flooding too. Of course, I’ll be led by the council’s requirements and expertise.
With a floor space of 2,909 sqft, the price works out at £4,640 per sqft – the most expensive anywhere in the world. Pictured: The kitchen in the property
A dilapidated outbuilding with two overturned boats outside, is seen with a number of cracks and holes in its doors
Mr Glanfield plans to replace the existing bungalow with a low-rise family home, which will become his main residence. Pictured: Wall tiles inside the property
The property has been billed as a bungalow, but does have stairs leading to a second floor room (pictured) providing further views of the harbour
A small second kitchen inside the bungalow (pictured) does not have any units aside from a sink and cupboard, which is seen to have cracks in it
‘The most important thing to me is to respect and protect the natural surroundings of the property, including the stunning mature trees.’
Sandbanks – Britain’s answer to Miami Beach – has been one of the most desirable places to live in the UK for over 20 years.
In 2000 the strip of land was named the fourth most expensive place to buy residential property in the world, behind Tokyo, Hong Kong and London.
Harry and Sandra Redknapp have owned two houses there while Sky Sports pundit Graeme Souness lives close by. Celebrity interior designer Celia Sawyer also lives on Sandbanks.
Mr Glanfield has also revealed how he became a multi-millionaire after starting his own business shortly after graduating from university in 2002.
He borrowed £9,000 on credit cards and a student loan to start a recruitment firm operating from his friend’s attic, though he admitted potential clients initially struggled to take him seriously.
Mr Glanfield said: ‘I realised I needed to give the impression that my company was well established, so I began playing a cassette recorder of loud office noise on loop in the background.
‘I renamed my company LHi Group to make it sound more familiar and perhaps give the illusion that it was larger than it actually was.’
The four bedroom home had been in the same family for 117 years after Victorian botanist Sir Joseph Dalton Hooker bought a piece of land
The price paid for the chalet bungalow equates to £4,640 per square foot, beating the value of property in Monaco, Hong Kong and New York
The large airing cupboard has exposed pipes, a large crack in the door and paint has started to fall away from the walls
The rear of the property in Sandbanks, Dorset, which is part of a 1.4 acre plot with a huge garden providing uninterrupted views across Poole Harbour
Sandbanks has seen an influx of foreign investment over the past 20 years, but local Mr Glanfield says he will build a low-rise home
Outside the property there is a rickety five-bar gate and a tumbledown garage, as well as the ‘death trap’ concrete swimming pool
Clients then slowly started to arrive and Mr Glanfield was able to move out of his friend’s attic and into a small office share in London – also employing his first full-time members of staff.
He slept rough on the office floor for a number of years, rolling up his sleeping bag each morning before staff arrived in the office and would wash in a small toilet cubicle sink.
The company now employs 450 people across Europe and the US.
Mr Glanfield, who also works as a business consultant, added: ‘My goal was to always be the dumbest guy in the boardroom. That may sound strange, but it means surrounding yourself with people who know more than you do.
‘Too many bosses are ego driven and like to call the shots. Quite often they are covering up their own insecurities. A good boss can recognise his own weaknesses.
‘More importantly he can spot talent in other people and utilise that talent to its full potential.’