£25 for chance to win £950,000 seaside home

A luxury seaside property in the middle of Dorset's exclusive Sandbanks peninsular is up for grabs in a competition which opens at noon today at www.sandbankslife.co.uk.

The refurbished, four-bedroom home worth £950,000 is available to anyone aged 18 and over who enters the prize draw. All entrants need to do for their chance to win, is purchase their ticket for £25 and answer three questions.

"Sandbanks is the fourth most expensive real estate in the world in terms of square metres," said Mark Barclay, the managing director of Sandbanks Life – the company selling the property on behalf of the owners - Vivid Development.

"In times when everyone is depressed about property and the economic downturn, here is a competition that allows you to win a house in one of the most expensive places in England."

Although the Gambling Commission has postponed a similar competition, this one is said to meet the commission's rules.

Mr. Barclay explained: "It's all to do with whether you require skill and knowledge to answer the question. If you don't use skill and knowledge it becomes an illegal lottery."

All costs and fees will be paid as part of the prize draw to win the prime real estate which includes integrated plasma televisions, iPod docking stations, landscaped gardens, a decked terrace and a private sun balcony off the master bedroom.

The luxury home is located near Panorama Road, an area dubbed millionaire's row, with the award-winning beaches of Sandbanks and Poole Harbour nearby.

Mr. Barclay said that the winner could rent the property out as a holiday home for £3,000 a month, or put it up for sale at below market value to sell it quickly and make a profit, given the fact that an entry ticket costs just £25.

The prize draw will close when 52,000 tickets have been sold. Should the organisers fail to sell this amount of tickets, then the competition winner will take the cash pot minus 20% to cover the costs of running the competition.

Source: The Sun | Last updated: 1st December 2008

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