IT MAY not look like much now, but 124 Panorama Road in Sandbanks has just become one of the most expensive properties in the country.

The plot of land - which is near to the home of Harry Redknapp, manager of Southampton Football Club - has just sold for £2.2million.

The owner of Amiri Developments, Matthew Lawrence, has bought the plot to build a £4million, four-storey glass and granite house with an "infinity swimming" pool, which will seem as if it's part of the sea.

He got the price knocked down from £2.75 million. But Gill Emeny, who is handling the sale for estate agents Tailor Made, estimated the property would eventually go for more than £6m.

She said: "When people come in here you do not realise what they can afford until they start talking to you.

"It sold for £2.2m, but that was when the bungalow was still there and people couldn't visualise the plot. It will eventually go for over £6m."

Mr Lawrence - who usually builds elaborate houses in Spain - was to live in the house but will now sell it as he has found another plot in Sandbanks he hopes to develop.

The small bungalow which originally stood on the 278ft by 52ft site - and would have been worth about £50,000 in the 1950s when it was built - was knocked down at the end of last year.

The glass-panelled house will benefit from views of five islands in Poole Harbour, including Green Island, which has also just been sold.

Ken Pottle, chairman of Branksome Park, Canford Cliffs and Sandbanks Neighbourhood Watch, who moved to the area 15 years ago, said: "When I started coming down here in the early 60s you could build a house for £3,500.

"People didn't think they could build on sand. Now they have a way and more and more properties are being built.

"People want to live here because it's a lovely place. We have a warmer climate, the beach has had the Blue Flag status for 14 years, and if you have that sort of money and you have boats or yachts you want to be by the water."

First published: May 18