Omaze refused to buy my Grand Designs mansion – now I’m being forced to borrow another £2m says owner of ‘saddest’ home
Omaze refused to buy my Grand Designs mansion – now I'm being forced to borrow another £2m says owner of 'saddest' home
IT'S a saga that has rumbled on for 14 years, but the star of the "saddest ever" Grand Designs episode isn't ready to give up but – despite the receivers shifting in.
Edward Short's dream house build on the North Devon coast cost him his marriage and over £6million in spiralling prices – and, after failing to find a purchaser, his creditors have called in receivers to put Chesil Cliff Home available on the market for a discount £5.25m.
Now Edward, 55, who was left with money owed of over £7m, tells the Sun he plans to borrow ANOTHER £2m.
The cash will go in the direction of finally adding the fixtures and fittings to the five-bedroom mansion, and re-engineering its clifftop driveway – which results in a second smaller property on the plot.
Because it stands the imposing coastal mansion, designed to resemble a lighthouse with its personal round 'storm room' and beautiful sea views, nonetheless needs a kitchen and loos, as Edward had been planning to let a purchaser put their own stamp on the inside.
The driveway also options some probably disastrous cracks.
But he now hopes the additional cash injection of £2m, which he has already agreed with a lender, will imply he may also add the finishing touches to the interior.
"It's been handed on to the receivers but meaning you lose management of how it's bought, and if they sell for their listed worth of £5.25m I will have lost an awful lot of money," he says.
He provides he's "in a triangle of negotiation" with the potential lender and the receivers to realize again control.&
If he does perform the work wanted, he anticipates placing the property again available on the market for £10m.
"I'm nonetheless making an attempt to keep away from an entire disaster for us as a family and the current state of affairs would find yourself as precisely that," he says.
"Whereas doing something concerning the issues, I consider, would go away me able to be able to pay again probably the most cash, and that's the bottom line."
Spiralling costs
Edward began work on the beautiful coastal mansion in 2010, with plans to reside there with then-wife Hazel and their two daughters Nicole, now 24, and Lauren, 22.
With an preliminary finances of £1.8m, Edward hoped to complete in 18 months, however improvement issues meant the construct lasted 12 years and costs spiralled out of control.
Because the stress and debt mounted the couple cut up, although they've all the time remained the perfect of associates.
I'm still making an attempt to keep away from an entire disaster for us as a family and the present state of affairs would end up as precisely that
Edward Brief
The former music producer – who is now engaged to new love Jalia Nambasa – beforehand advised The Sun he felt responsible for the price of the venture on his household.
"There's little question what I put Hazel via was horrendous," he stated.
"There's a whole lot of guilt about that. However there was no means out, as soon as we started. If we didn't finish we'd have been in huge hassle."
The unfinished property went available on the market nevertheless it was removed from an estate agent's website with speak of their being a "critical purchaser" – however they pulled out simply before the contracts have been signed.
Omaze refuse deal
Edward reveals he even had talks with home raffle website Omaze, however the price ticket was too hefty for them.&
The 5 bed room, glass fronted residence, is now up on the market via Regulation of Property Act receivers, which indicated the sale is a part of money owed being resettled.
The itemizing says: "Savills are appointed on the directions of Joint Receivers: H.Varsani & M.Yianni (Belleveue Mortlakes Chartered Surveyors & LPA Receivers)."
In response to Rightmove, the new asking worth of £5.25m presents a possible buyer a "as soon as in a lifetime opportunity" to take on and full one of many UK's "most spectacularly located coastal houses".
There's little question what I put Hazel by means of was horrendous. There's numerous guilt about that
Edward Brief
Nic Chbat, director of Match Property property brokers in North Devon, who beforehand assisted with finding a buyer last year, tells the Sun: "I feel completing a match out and resolving the difficulty of the left aspect driveway can be very useful and remove most of the obstacles to buying that consumers might have.&
"I might recommend that an asking worth of £10M can be more than real looking and achievable, if this have been the case."
He provides that there are potential buyers already wanting on the home.
"We do have a few credible consumers at present, considered one of which has seen the property several occasions and had meetings with the architects prior to the top of last yr.&
"They're still actively in discussions about it as lately as this morning."
'I'm nonetheless a winner'
Planning to walk down the aisle with Jalia this yr, but nonetheless waiting on his divorce from Hazel, Edward says he nonetheless looks like a winner, regardless of his financial woes.
"I've moved on with my life and there are highs and lows," he says. "However there's chasing money and there's chasing love and, personally, I feel love's more durable to seek out.& &
"So, for me, finding love has been of a huge value.
"Jalia is a superb help but she shall be happiest when this is finished, the home is bought and we will draw a line underneath it and move on.
"Hazel continues to be a very good pal and she or he's been sensible and stood by me so I couldn't have extra praise for my ex-wife.&
"This has been very troublesome for the household and that's something I feel horrible about, however all of us have our well being and we are all fighters so we get on with our lives."
Jalia is a superb help but she shall be happiest when that is achieved, the home is bought and we will draw a line underneath it and transfer on
Edward Brief
Still hoping to pay back as a lot of his ever-mounting debt as he can, Edward is characteristically philosophical concerning the uncertain way forward for his dream house, but says promoting it at too low a worth "goes towards what I consider is my opportunity to pay again probably the most I can".
But if the receivers do a deal that leaves him still hundreds of thousands in debt, he says he'll cope.
"When you haven't received the cash you'll be able to't pay it back," he says. "However the safety on the debt was the property.
"This is such an ongoing saga and I actually don't have any concept how this is going to end up. However I've received used to that."
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