It's perhaps lucky that Harry Redknapp has decided to reject Newcastle's reported £20 million offer to head for the North East.

For the man that many consider the nation's favourite football manager is among those featuring in tonight's ITV1 programme Sandbanks.

It focuses on the good and extremely fat-walleted folk who call this spit of massively overpriced land home.

The three-part programme offers an insight into this most exclusive area of Poole which, despite being surrounded by sea and therefore in theoretical danger of being destroyed by global warming, remains one of the most sought-after neighbourhoods in the world.

Only a tiny group of people can afford to live there but as presenter Piers Morgan discovers, Sandbanks hasn't always been a millionaires' paradise.

A century ago, this small Dorset peninsula was little more than a sand dune featuring a handful of cottages which were the homes of the local coastguard.

How times have changed. Sandbanks is now regarded as the UK's answer to Monte Carlo, with properties exchanging hands for as much as £12 million.

And there aren't too many places to choose from, either, because the area takes up just over three miles of shoreline, with a beach on one side and a harbour on the other.

You might think those who live there can't believe their luck, but not everyone is happy about the explosion in prices.

War veteran Jack Holsgrove is one of those who is sick of hearing about it.

He bought his home 35 years ago and loved the peace and quiet.

However, since the rich and famous began moving in, he has regularly been bombarded with offers for his land by over-eager estate agents.

"I am not selling," says Jack.

"Where would I go to better this?

"What would I do with £10 million? Not at any price. I wouldn't have time to spend it."

He's not the only disgruntled local either.

There have been ripples of discontent from others, particularly following the construction of property developer Eddie Mitchell's controversial pad, which is known as the Thunderbird house thanks to its futuristic design.

Nevertheless, newcomers don't seem to be put off, and still keep coming in their droves.

In the first programme, Piers meets some of Sandbanks' starrier residents, including Portsmouth FC manager Harry and some of his glitzy neighbours.

Harry lives in a sea-front property which has been valued at up to £10 million.

Nearby is the home of one of his players, Ghana midfielder Sulley Muntari, who also describes why he loves this part of the country.

Piers then turns his attention to developers Richard Carr and Eddie Mitchell, while estate agent Tom Doyle reveals that he's made so much money selling Sandbanks property, he can now afford two Bentleys.

There is also a chance to hear from president of the local residents' association Terry Stewart, who is leading the campaign against the redevelopment.

Piers, of course, made his name as a newspaper columnist and editor, but since being sacked from the Daily Mirror in 2004, he has concentrated largely on building a TV career.

Among his projects have been a stint as guest presenter on The Wright Stuff and This Week.

Being a judge on America's Got Talent brought him international recognition, and he also appears on the British version of the show.

You Can't Fire Me, I'm Famous has proved arguably his best vehicle to date, and features interviews with celebrities who have either been sacked or resigned from high-profile positions.

Sandbanks, however, is a rather different offering, and gives Piers a rare chance to move away from showbusiness and reveal his more serious side.