Wednesday, Jan 28, 2009
Millionaire's playground getting pwned
The Sun: Sandbankrupts
MILLIONAIRES’ playground Sandbanks has been ravaged by the credit crunch, The Sun can reveal.
Renowned as one of the wealthiest places on the planet, the slump has ripped apart the luxury lifestyles enjoyed by many of its high-roller residents.
At least two multi-millionaires have gone bust — one losing a staggering £35million. Estate agents are struggling to sell any of the lavish mansions on the tiny peninsula.
Homes have been repossessed, restaurants have emptied and at least one hotel has been forced to close for half the week.
Posted by little professor @ 08:11 AM (1123 views) Add Comment
21 Comments
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1. little professor said...
Property tycoon Richard Carr — shown on Morgan’s show sipping bubbly with beauties on his £2million yacht — now lives in a rented flat above a café. Richard bought four sites in Sandbanks, intending to build flash apartments. But banks pulled the plug. And the sites have become scruffy wasteland.
Richard, 49, said: “I’ve lost the lot, my personal fortune and a lifetime’s work. I’m a total victim of the credit crunch.
“At one stage I was worth about £35million. Now I’ve got just £100 in my pocket. And a lot of big businessmen in the area will find themselves in the same boat.”
2. phdinbubbles said...
Mwuahahahaha
3. paranoia blue said...
Just love the “victim mentality”!
4. it_is_going_with_a_bang said...
He 'thought' he was worth £35million is more the case. I'm always amazed how how bad people's maths is when it comes to working out what they are 'worth'. It seems they only work out how it's done when they can actually count the £10 notes in front of them.
5. bystander said...
That's OK there will be plenty of 'masters of the Universe' lining up to pay bottom dollar for the lot, after they've milked the current volatility for all it's worth.
6. Boom_and_bust said...
I am a victim... I am a victim...help me, help me, cruel world, cruel world....
7. jackas said...
...
Gambler Richard Carr — shown on Morgan’s show sipping bubbly with beauties on his £2million yacht — now lives in a rented flat above a café. Richard couldn't stop gambling, intending to gamble until he made an obscene fortune. But he gambled using other peoples money, who now refuse to lend him any more.
Richard, 49, said: “I’ve lost the lot, my personal fortune and a lifetime’s work. I’m a total victim of the credit crunch.
8. mountain goat said...
Ah now why is everyone so gloomy with stories like this?
9. titaniccaptain said...
I Refer to the comment made by phdinbubbles some moments ago
10. Kelvin Newman said...
hmmm hard to raise a lot of sympathy!
11. mark wadsworth said...
@ Bystander "willing to pay bottom dollar" brilliant.
12. drewster said...
I concur wholeheartedly with phdinbubbles!
13. debtfree said...
Locals were seen bragging about their swanky lifestyles, comparing the peninsula to Monte Carlo or Barbados.
Ha ha , you gotta laugh at that. Complete bubble herd mentality.
Poole town centre has as much class as the OAP charity shops swamped in the area.
14. mark said...
might buy one bet they are like a 100 quid a house now
15. jack c said...
I ope 'arry and Sandraaa aint effected by any of this - maybe Sandbanks is just a oliday home now he's gone from Portsmouth to Tottingham.
16. W4u said...
Quote: He told of a £2million home that has been repossessed. And he said: “We have 50 £1million-plus houses on our books but virtually nothing is selling.”
Why is nothing selling? The clue is in the "£1million"
17. yorkshireman said...
A lifetime's work ? Not a good days work in any of them in my view. I have no sympathy at all.
There are many people in this country who have worked and now find themselves living on a hundred pounds a week as their pension and savings are eroded. They are not complaining - yet.
18. need-a-crash said...
Brilliant! That's cheered me up on an otherwise wet and miserable day.
Monte Carlo and Barbados Mmm bet it looks just like those places on a wet day in January!
19. bluebeach said...
Thunderbirds are going...going..gone
20. will said...
If they didn't see the bubble they were buying into, they deserve to loose it all.
21. wiltshire said...
If you can go from "worth about £35million" to "just £100 in my pocket" in the space of a few months then in my opinion all this bloke is is a chancer who got lucky. Not smart enough to put anything away for a rainy day and of not smart enough to realise that chancers almost always come unstuck.
How many of these types there must be in this country right now, all blaming circumstances. Ha!