• EXCLUSIVE: Tom Glanfield bought bungalow on exclusive Sandbanks peninsula for £13.5million last month
• After receiving backlash over plans to renovate the property, he has revealed its dilapidated interior 

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.

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.

READ MORE: Waterside bungalow in millionaire’s playground Sandbanks sells for $15m  

 

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The property comes with a Formica kitchen and outdated cork ceiling tiles.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.

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.

‘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.’

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.’