The Property Equation: What will £850,000 buy?

Always fancied a penthouse with glorious seaview? Hold on, for the same money could have no less than five other homes, as Rosalind Russell found

Retirees hankering after a little place by the seaside may be out of luck if the price of a penthouse in Kingsway Court in Hove is anything to go by. It's one of a pair in a Sixties block on the sea front of this genteel, south coast city. Although a fair area of the massive roof is taken up with lifts, staircases and services, there's more than enough room for this generous, four-bedroom apartment with a terrace on three sides. The main one, off a 30ft wide conservatory/sitting room with under-floor heating, is 48ft by 37ft. There are two modern bathrooms and a 24ft kitchen with pear-wood cabinets, granite tops, five-ring stainless steel hob and glass brick walls. There's porterage, underground parking, video entry, communal heating and water, and a nearby upmarket restaurant. Price £850,000. Mishon Mackay. on 01273 821800.

Retirees hankering after a little place by the seaside may be out of luck if the price of a penthouse in Kingsway Court in Hove is anything to go by. It's one of a pair in a Sixties block on the sea front of this genteel, south coast city. Although a fair area of the massive roof is taken up with lifts, staircases and services, there's more than enough room for this generous, four-bedroom apartment with a terrace on three sides. The main one, off a 30ft wide conservatory/sitting room with under-floor heating, is 48ft by 37ft. There are two modern bathrooms and a 24ft kitchen with pear-wood cabinets, granite tops, five-ring stainless steel hob and glass brick walls. There's porterage, underground parking, video entry, communal heating and water, and a nearby upmarket restaurant. Price £850,000. Mishon Mackay. on 01273 821800.

But for the same money you could buy...

An end-of-terrace holiday villa in Camelford, Cornwall, in the 15-acre grounds of the Lanteglos Country House Hotel. The complex has heated swimming and paddling pools, three restaurants, bars, games room, launderette, children's play areas and a takeaway. Reduced green fees are available for some local courses. The beaches of Padstow, Port Isaac and Bude are within easy driving distance. The property is described as sleeping four, though you'd have to be very good friends. There's an L-shaped living room/kitchen, a bathroom and electric wall mounted heaters. Price, furnished, £25,000. Stratton Creber, on 01841 532230.

Plus...

A 19th-century Shropshire village cottage. The two-bedroom, part-stone, terraced house in Clun, near Ludlow, has a sitting room with beamed ceiling and an open fireplace, a 10ft kitchen breakfast-room and a 15ft conservatory overlooking the rear garden. The bathroom is upstairs. Heating is via a back boiler in the fireplace. The village has pubs, shops, a school, river and the remains of Clun Castle. Price £130,000. Nock Deighton, on 01584 875555.

And still be able to buy...

Ruallan House, a single-storey converted coach house, 14 miles from Inverness (eight from the airport) in the Scottish Highlands. It's at the end of a no-through road and has three and a half acres, including a private glen with a burn. There is a 36ft, beamed sitting/dining room, stone walls, a wood-burning stove and a view of the hills. There are four bedrooms, the main one 20ft by 12ft, and one bathroom. Planning permission also exists for three more bedrooms, two bathrooms and a sun room. The agents say letting the house to fishing and shooting parties could generate £25,000 a year. Price £195,000. Knight Frank, on 0131 225 8171.

Not to mention...

A two-bedroom apartment in the Old Chapel, a re-development of an old church building in Spencers Wood, near Reading, Berkshire. Although many original features have been retained, it has an integrated vacuum cleaning system, built-in safe and under-floor heating. The kitchen has Italian units and a five-ring gas hob. The gardens include parking. Plot 4 is on the ground floor and has two bathrooms and an open-plan living room and kitchen. Price £225,000. Haslams, on 0118 960 1000.

And you still have enough left for...

A two-bedroom flat in Highbury Park, north London (below), on the top floor of a Grade II-listed Georgian building near Highbury Fields, within walking distance of both Highbury and Islington tube and Arsenal Football Club. The 16ft sitting room has wood floors and leads to an 8ft square kitchen. The lease has 106 years left. Service charge is £768 a year, plus ground rent of £75. Price £275,000. Holden Matthews, on 0207 226 1313.