However, the U.K. architects aren't the first wave of fans who've wanted to build something Tolkien-esque. Aside from the Hobbiton movie set in New Zealand; many houses around the world have been known to show similar appearances to Hobbit houses.
This July, British "glamping" company, West Stow Pods, asked literary enthusiasts to Kickstart their campaign, to create a Hobbit "hole" - now named "Podditon" – as part of a holiday escape. The campaign however ran into trouble with copyright issues, and removed all references to Tolkien and the Hobbit. So far, they've raised £18,698, with a week left to go.
If you can't wait for the construction of your own Hobbit house or the 'White City', at the end of August, HarperCollins will publish an early work from J.R.R. Tolkien, entitled "The Story of Kullervo." The dark retelling of a Finnish epic poem is supposed to have helped inspire features within the Lord of the Rings series.
—By CNBC's Alexandra Gibbs, follow her on Twitter @AlexGibbsy.