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Bbc1- The One Show

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Ex-RAF Engineer, has one of only 30 beach-front plots, lovely looking late 30's style detached house.

He's been offered £5-6 MILLION to move out so developers can get their hands on the site.

So far, he has remained steadfast an refused ALL offers. One reason cited by him was...

"so my son and his family can move in and live here when I'm gone..."

what chance of that in Noughties Britian - bet you couldn't even get odds on the plot being sold before the poor sod is even cold in his box...

No link yet on their homepage, but it was the last 5-minute segment...

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Ex-RAF Engineer, has one of only 30 beach-front plots, lovely looking late 30's style detached house.

He's been offered £5-6 MILLION to move out so developers can get their hands on the site.

So far, he has remained steadfast an refused ALL offers. One reason cited by him was...

"so my son and his family can move in and live here when I'm gone..."

what chance of that in Noughties Britian - bet you couldn't even get odds on the plot being sold before the poor sod is even cold in his box...

No link yet on their homepage, but it was the last 5-minute segment...

I admire Jack for not selling out to the "chav" developers who have ruined Sandbanks in the last 10 or so years.

You just have to visit Cafe Shore on an evening and see the "Sandbanks slappers" Fur coat and no knickers, looking for a rich catch.

There has been a steady infux of Z listers, crooks and wanabees move in to the area. Believe me, I could tell you some tales about some of those "classy Sandbanks residents" that would make your hair curl. Money certainly does not buy class. The true welathy like Jack do not need to wear their wealth on their sleeve.

Can't wait for the Tsunami to come and wash it all away.

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Well, if Jack hasn't already handed over the house to his kids or put it in trust they probably will not be able to live there after they pay the inheritance tax on that place!

I don't know how old he is but if he put it in their names tomorrow or set up a trust tomorrow he would have to live, what, another 7 or 10 years before they were clear of any inheritance tax?

I think I am right in the above - can some of your legal gurus check this out?

Probably best to sell up now, put the money in a Swiss bank account for the kids - only joking! Only problem with that is that they probably would have to leave the UK never to return. A bit like Philip Nolan!

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This seems to be the fella.

He's made his decision and is happy there.

I wouldn't like to have to find the IHT on that when the time comes.

'Keep the £10m, I'd rather have my home'

Daily Mail

16 January 2008

Reader comments (16)

A pensioner who paid £60,000 for his home 35 years ago is refusing to sell up despite receiving offers as high as £10m.

Mr Holsgrove, who worked on the bouncing bombs used by the Dambusters in 1943, moved into property development when he left the RAF.

When he bought his Sandbanks home, the average home cost £10,000, according to the Nationwide House Price Index.

His two-storey property, built in 1936, has four bedrooms, two bathrooms, dining room, kitchen, two sun rooms, office and a one-bedroom penthouse on the roof.

If he also said this (below) I don't know where his son is going to find the money to pay the IHT bill, unless he's also got money, or the father is also leaving a load of additional liquidity.

"so my son and his family can move in and live here when I'm gone..."

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Well, if Jack hasn't already handed over the house to his kids or put it in trust they probably will not be able to live there after they pay the inheritance tax on that place!

I don't know how old he is but if he put it in their names tomorrow or set up a trust tomorrow he would have to live, what, another 7 or 10 years before they were clear of any inheritance tax?

I think I am right in the above - can some of your legal gurus check this out?

I believe he could put it in to trust for purposes of avoiding IHT, (whilst paying front-loaded trust charges) but then he wouldn't be able to live in the house.

Its something about not continuing to enjoy the benefit of what you seek to avoid paying the IHT on, or at least that is what my solicitor relative told me.

Or he could give/gift it away whilst still alive... and be exempt from IHT after 7 years (tiered rates if death before that)... but still applies that he couldn't reside in the house on a permanent basis.

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Ex-RAF Engineer, has one of only 30 beach-front plots, lovely looking late 30's style detached house.

He's been offered £5-6 MILLION to move out so developers can get their hands on the site.

So far, he has remained steadfast an refused ALL offers. One reason cited by him was...

"so my son and his family can move in and live here when I'm gone..."

what chance of that in Noughties Britian - bet you couldn't even get odds on the plot being sold before the poor sod is even cold in his box...

No link yet on their homepage, but it was the last 5-minute segment...

he needs to transfer the deeds to his son and start paying rent his son ASAP! he needs at least 7 years paying market rent otherwise his son will have to pay 2.5mill in inheritance...

Edited by moosetea

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If he did pay £60,000 35 years ago he was well off. I don't know what the average salary was in 1973 but I'd hazard a guess it was less than £2000.

£60,000 was an awful lot for a house in those days - equivalent is well over a million now

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I admire Jack for not selling out to the "chav" developers who have ruined Sandbanks in the last 10 or so years.

You just have to visit Cafe Shore on an evening and see the "Sandbanks slappers" Fur coat and no knickers, looking for a rich catch.

There has been a steady infux of Z listers, crooks and wanabees move in to the area. Believe me, I could tell you some tales about some of those "classy Sandbanks residents" that would make your hair curl. Money certainly does not buy class. The true welathy like Jack do not need to wear their wealth on their sleeve.

Can't wait for the Tsunami to come and wash it all away.

Not entirely sure what you are saying here but your comments regarding the homeowner (Jack) are commendable.

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I suspect his house will spontaneously burn down soon. Had a similar thing happen to a relative 'oop North - refused to sell up to the developers, his house was burned down and the developers acquired the land on the cheap.

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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