Stenprop and Burleigh Estates are to bring to market a major residential and hotel development opportunity overlooking Poole Harbour and the fashionable Sandbanks peninsula.
The 2.9-acre site close to the centre of the Dorset town has been earmarked for more than 200 new homes and a hotel in the local development plan.
CBRE has been appointed to find a buyer for the site, with bids expected to top £10m.
The area is one of the wealthiest in the UK and is home to football managers Harry Rednap and Tony Pulis.
The agent predicts that residential values for the penthouses of the potential scheme will top £500 per sq ft.
Patch Properties, the Stenprop and Burleigh Estates joint venture, bought the site in 2006 for £19m from Newcastle-based Metnor Property Group.
They planned to demolish
the 70-bedroom Quay Thistle Hotel that occupies the site.
However, the scheme was put on hold after the financial crash and suffered lengthy planning delays.
The resurgence in the regional residential market is expected to attract strong interest from new developers interested in taking the scheme forward.
jack.sidders@estatesgazette.com
