Meet the millionaire Cornish dentists ‘laughing all the best way to the financial institution’ after Omaze paid them £4.4m to raffle off their residence – almost TWICE its market worth
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With its stunning panoramic estuary views, carefully designed modern interior and private beach access, Riverside Avenue is undoubtedly an enviable address.
The street – and its neighbour Riverside Crescent – are among the most expensive places to live in Cornwall alongside the likes of Polzeath ‘Chelsea-on-Sea’, Rock ‘Britain’s Saint-Tropez’ or Padstow aka ‘Padstein’ after resident celeb chef Rick Stein.
So the chance to win a four storey five-bed house – including luxurious flourishes like a yoga studio, home cinema and hot tub – for as little as £15 sounds like the deal of the century.
But even in this uber wealthy pocket of Cornwall, the £4.4million Omaze paid to secure the house last August has raised a few eyebrows.
For one thing, it’s edging towards twice the valuation of the properties on either side of it.
One of which sold 18 months ago for £2.65million, the other is currently on the market for £2.75million.
And while those examples are smaller, a six-bed house further along the road can be picked up for £2.5million.
‘I heard the homeowners were delighted with the offer,’ one long-time resident revealed. ‘I don’t think they were expecting to get anywhere near that much.
Even in this uber wealthy pocket of Cornwall, the £4.4million Omaze paid to secure this house last August has raised a few eyebrows
The Daily Mail can reveal the house was sold to Omaze by dentist couple Richard and Sally Hudson
The couple bought a modest home on the site for £785,000 and demolished it about a decade ago
Former neighbours of the couple told the Daily Mail they were likely ‘laughing all the way to the bank’ over the offer
‘But if you’re offered that you’re going to take it.
‘I don’t know what they’re doing now… probably laughing all the way to the bank.
‘I hope they sell enough tickets to make it worthwhile.’
The house was constructed around a decade ago after dentists Richard and Sally Hudson bought a modest home on the site for £785,000 and demolished it.
The undoubtedly stunning property that replaced it was waved through without any objection from neighbours or officials.
Mr and Mrs Hudson chose not to share their view on the sale and the future of the house when contacted by the Daily Mail this week.
But neighbours revealed not everybody was completely won over by the 5,200 sq ft, four-storey home, and have given it a less than complimentary nickname.
‘We call it the garden shed,’ one told the Daily Mail in a tongue-in-cheek reference to the building’s shape and wooden cladding.
A plot of land opposite the house is also currently up for sale for £425,000 – with planning permission for a three-bed house.
Another local resident said they were left ‘speechless’ by the price. They added: ‘There’ll soon be another house right opposite, I suppose it won’t affect the price much as it’s on the wrong side to block the sea view but it won’t make it more desirable to live there.’
Even Omaze themselves only value the house at £4million in their marketing materials.
The sentiment was shared with Reddit users, one of whom posted: ‘Not a fan of this one. I even think a resale here might be tricky.’
Another added: ‘Love the location, like the house, but for me it desperately needs a lift and I can’t see how one could be added. Really surprised it was part of the original spec.’
But another user pointed out: ‘I’d be happy to win even if I ‘only’ ended up with £3million from the sale. Still good value from a tenner.’
The £4.4million valuation is edging towards twice that of properties it stands near
The property does offer uninterrupted coastal views where the beach, sea, river, coast, and countryside all meet in breathtaking harmony
Omaze promises the property comes mortgage‑free with all stamp duty and legal fees covered. The winner will also receive £250,000 in cash and £160,000 worth of furnishings.
Winners can choose to sell it, live there or rent it out for an estimated £4,500 per month income.
The company – which has so far given away 45 multi-million pound homes – has also guaranteed a £1million donation to GOSH Charity from the Cornwall draw, as part of its longer-term pledge to raise £12million to help build a world‑leading Children’s Cancer Centre at Great Ormond Street Hospital. The initiative is being backed by GOSH Charity Patron Simon Cowell.
Cowell encouraged people to take part to support GOSH Charity’s work, saying the new cancer centre will be ‘truly impressive with cutting‑edge facilities’.
He said: ‘I’m really proud to be supporting Great Ormond Street Hospital Charity and want to encourage the Omaze Community to enter the Cornwall House Draw to help this incredible charity raise vital funds to build a world-leading Children’s Cancer Centre.
‘The new centre will be truly impressive with cutting-edge facilities, continued access to clinical trials, a new hospital school, and outdoor spaces – so children can still be children while going through treatment. Together, we can beat childhood cancer.’
James Oakes, President of Omaze, said: ‘This incredible waterfront home in North Cornwall is one of the most breathtaking properties we’ve ever offered.
‘The eventual winner can choose whether they want to live in this extraordinary house, rent it out or sell up and walk away a multi-millionaire, the choice is entirely theirs.’
An Omaze spokesperson said: ‘All Omaze Million Pound House Draw properties are professionally valued by independent property experts. The valuations they provide consider a variety of factors, including the size of the property, its unique features, location, demand in the area and current market trends.
‘This assessment is an extremely thorough process to ensure Omaze always provides its community with a fair and reliable valuation based on current market conditions, at the time when the corresponding House Draw is live.’
