The Brit harbour resort on the Sandbanks has now become the most expensive place to live in the world. A single waterside bungalow selling the resort is for a whopping £ 13.5 million. The four-bedroom home is on the Sandbanks peninsula at Poole Harbour and had been in the same family for 117 years after a botanist bought it back then for £1,000.

North Haven Point, the chalet bungalow was extended in the 1950s and has a floor space of just 2,909sq ft. It means the price you pay per square foot equates to £4,640 beating the value of property in Monaco, New York and Hong Kong. The new owner of the bungalow is Tom Glanfield who is nearly in his 40s. He started a recruitment business 20 years ago with a student loan and is a self-made multi-millionaire now.

Glanfield claimed the potential for the property which has a 1.4-acre corner plot. It is by far the biggest piece of real estate on the Millionaires’ Row. The multi-millionaire plans to demolish the expensive bungalow and replace it with a luxurious eco home that will cost at least £5m to build. The investment will also see the upgrading of the sea defence walls at the bottom of the garden.

The property will have a stunning 270-degree view of Poole Harbour, due to its corner location. Probably the world’s second-biggest natural harbour behind Sydney.

Glanfield posted on social media: “Proud to take my small slice of Sandbanks. It’s nothing fancy, but I fought hard for it and the potential is huge. Got some work to be done ahead, like repairing all the sea defences. But I fell in love immediately with the view and its rustic charm, could sit at the end of the garden and never want to move again.”

Celebrity interior designer Celia Sawyer also lives on Sandbanks. Harry and Sandra Redknapp have owned two houses there while Sky Sports pundit Graeme Souness lives close by.

Robert Dunford, of estate agents, said “The new owner of North Haven Point has bought the home for its location, size and privacy of the plot with its extensive harbour frontage. I believe he is looking to embrace green credentials, work with the protected trees, and create something truly special.

“The plot is over 1.4 acres, in the stunning southwest section on Sandbanks Peninsula, it is the best corner plot I’ve ever had the pleasure of representing locally. It is a double aspect corner plot that captures the sun all day.”

The ground floor of the bungalow has a dining room, living room, kitchen, store room, utility rooms, pantry and office. The first floor, which was extended in the 1950s, has a master en-suite bedroom, two more bedrooms and a guest bedroom suite.

So, when are you travelling here?