A dad who bought the UK’s ‘most expensive bungalow’ for £13.5million says it has turned into a ‘death trap’.
Tom Glanfield, 44, bought the house on Millionaire’s Row in Sandbanks, Dorset last month.
The entrepreneur used to sleep rough on his office floor and wash in a toilet cubicle before building a business empire employing 450 people.
His ‘dream’ was to raise his family in the £13.5million beachfront bungalow.
But he was devastated when he realized the house was a “death trap” with a leaky roof, mold and crumbling flood defences.
The father-of-two said: “Although the property appears in reasonable condition from a distance, it was clear upon inspection that years of exposure had taken its toll.
“While it clearly hasn’t been updated for a while, unfortunately the issues run much deeper.
“The current house has no insulation whatsoever and relies on obscene amounts of oil to heat it.
“Some people said it would be a shame to replace the property, but they probably didn’t inspect it too closely.”
Visitors to the property are faced with a cracked driveway, a rickety five-bar gate, and a crumbling garage — as well as a concrete “death trap” swimming pool.
The tidal wall protecting the house has collapsed, exposing Tom’s family to storm surge.
Tom said: “As with all beachfront properties, years of exposure have taken their toll.
“In addition, the existing property is at increased risk from tidal surges.
“As a long-time resident of Poole, I certainly don’t want to build anything that detracts from the natural beauty of the area or negatively impacts any of my friends and neighbours.
“Unfortunately, the current house is extremely inefficient and does not meet modern building standards.
He added: “My dream is to build a permanent family home that will stand the test of time, using sustainable construction methods, locally sourced materials and using local craftsmen to carry out the work. construction.
“It is important to note that any property here must also be flood proof.
“Of course, I will be guided by the requirements and expertise of the board.
“The most important thing for me is to respect and protect the natural environment of the property, including the beautiful mature trees.”
Millionaire’s Row has the most expensive floor space in the world, with Tom’s 2,909 square foot property costing £4,640 per square foot – more than prime real estate in New York, London or Hong Kong.
Tom bought the bungalow after borrowing £9,000 on credit cards to start a recruiting business in his friend’s attic.
He slept rough on the office floor and washed in a toilet cubicle to save money.
The entrepreneur said: “I realized I had to make my business look established, so I started playing a loud office noise cassette tape recorder on loop in the background.
“I renamed my company LHi Group to make it more familiar and perhaps give the illusion that it was bigger than it actually was.”
The company now had 450 employees in the UK, Europe and the US.
It comes after an entrepreneur who grew up in a council house and left school aged 14 revealed he was selling his Millionaire’s Row home for £15million.
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