A beach hut that is positioned next to a toilet block has gone on the market for a staggering £575,000.
The 13ft by 10ft timber cabin that has no mains electricity, toilet or washing facilities is on the Mudeford sandbank in Christchurch Harbour, Dorset.
The remote sandy spit is well known for being home to the most expensive beach huts in the country.
Although some have recently been listed for sale for around £325,000 it is thought they have been selling for much more due to unprecedented demand.
But now the basic laws of supply and demand economics have gone out of the window with asking prices shooting up by more than £200,000 almost overnight.
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Denisons / SWNS)
Hut 180, that can sleep six people between April to October, is now valued as the same as a luxurious, six bedroom house in Northumberland.
And as it is not possible to take out a mortgage on it, the wooden bolthole will be sold to a cash buyer.
The hut is in an ‘outstanding location’ and has sea views looking out to the Isle of Wight from the front and Christchurch Harbour to the back.
The ‘high spec’ layout inside includes a fitted kitchen which has a integrated fridge freezer and a water heater run via solar panels on the roof and an oven power by a gas bottle.
The seating area can be converted into two double beds and there is a set of steps leading to a mezzanine level where two more people can sleep.
Denisons / SWNS)
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There is no toilet or shower, with washing facilities in a communal shower block next door to it.
Cars are not allowed at Mudeford and the only way of getting there is via a 20 minute walk, a ride on a novelty land train or a short ferry trip across the harbour.
But its remote and exclusive location is what makes it so desirable among rich people wanting a holiday home.
There are about 360 huts on the Mudeford sandbank and the prices for them have increased over the past 20 years due to demand far outstripping supply.
In 2002 the humble huts were selling for £73,000. The following year one broke the six-figure mark for the first time, selling for £100,000.
By 2005 they were up to £135,000. There was a dip in the market due to the credit crunch of 2008 but prices were up to £170,000 by 2012.
By 2014 the price increased to £270,000, then £300,000 in 2018.
But the amount of wealthy people looking to holiday at home due to the pandemic and being put off buying a second abroad because of Brexit has led to their values to soar to half-a-million pounds.
Andy Denison, of estate agents Denisons, described the cabin as one of the ‘finest located huts’ at Mudeford.
He said: “The property enjoys an elevated position with glorious uninterrupted front and rear views of the beach and harbour.
“This truly high spec hut has recently undergone major improvements. The home comfortably sleeps six with two doubles on the ground floor and a double on the mezzanine.
“We have had a few big surprises recently. There have been huts that have sold for well and above their asking prices. There are people who want that way of life and they can afford to have it.”
Members of the public have reacted with astonishment to the asking price.
Kim Muckley posted on social media: “This is crazy money. You could buy an entire house for this price. How can this be right?”
Tim Baber is a former owner of a beach hut at Mudeford. His family cashed in on theirs in 2002 when it sold for £120,000.
The 65-year-old said: “When we sold ours I didn’t think the prices would go any higher but I was quickly proved wrong.
“Most people who are going to sell their huts have sold out by now and so you don’t get that many that come back on the market.
“When one does become available I would guess that the estate agents have between 15 to 20 names on a waiting list and so the sale becomes something of a telephone auction with the richest person outbidding all the others.
“In a lot of cases they are bought by people who work in the City spending their big bonuses. We sold ours to a guy from London who was a BBC manager.”
The new owners will also have to stump up about £4,500 a year to the local council in fees.