Omaze refused to buy my Grand Designs mansion – now I’m being forced to borrow another £2m, says owner of ‘... (original) (raw)

IT’S a saga that has rumbled on for 14 years, but the star of the “saddest ever” Grand Designs episode is not ready to give up yet - despite the receivers moving in.

Edward Short’s dream home build on the North Devon coast cost him his marriage and over £6million in spiralling costs - and, after failing to find a buyer, his creditors have called in receivers to put Chesil Cliff House on the market for a cut price £5.25m.

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Edward Short's dream home was dubbed the 'saddest Grand Designs ever'Credit: Neil Hope

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The project cost him his marriage and over £6million in spiralling costsCredit: SWNS

Now Edward, 55, who was left with debts of over £7m, tells the Sun he plans to borrow ANOTHER £2m.

The money will go towards finally adding the fixtures and fittings to the five-bedroom mansion, and re-engineering its clifftop driveway - which leads to a second smaller property on the plot.

As it stands the imposing coastal mansion, designed to resemble a lighthouse with its own circular ‘storm room’ and stunning sea views, still needs a kitchen and bathrooms, as Edward had been planning to let a buyer put their own stamp on the inside.

The driveway also features some potentially disastrous cracks.

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But he now hopes the extra cash injection of £2m, which he has already agreed with a lender, will mean he can also add the finishing touches to the interior.

“It’s been passed on to the receivers but that means you lose control of how it’s sold, and if they sell for their listed price of £5.25m I will have lost an awful lot of money,” he says.

He adds he is “in a triangle of negotiation” with the potential lender and the receivers to gain back control.

If he does carry out the work needed, he anticipates putting the property back on the market for £10m.

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The home requires fixtures and fittings and structural work to the driveway - which Edward wants to borrow another £2million to sortCredit: Knight Frank

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The project has been dragging on for 14 yearsCredit: SWNS

“I'm still trying to avoid a complete disaster for us as a family and the current situation would end up as exactly that,” he says.

“Whereas doing something about the problems, I believe, would leave me in a position to be able to pay back the most money, and that’s the bottom line.”

While the price tag is high, Edward points out that a house on the same stretch of coastline has recently sold for £8.5m - and he had been told the new owner plans to knock it down and rebuild.

Spiralling costs

Edward began work on the stunning coastal mansion in 2010, with plans to live there with then-wife Hazel and their two daughters Nicole, now 24, and Lauren, 22.

With an initial budget of £1.8m, Edward hoped to complete in 18 months, but development issues meant the build lasted 12 years and costs spiralled out of control.

As the stress and debt mounted the couple split, although they have always remained the best of friends.

I’m still trying to avoid a complete disaster for us as a family and the current situation would end up as exactly that

Edward Short

The former music producer - who is now engaged to new love Jalia Nambasa - previously told The Sun he felt guilty for the cost of the project on his family.

“There’s no doubt what I put Hazel through was horrendous,” he said.

“There’s a lot of guilt about that. But there was no way out, once we started. If we didn’t finish we’d have been in big trouble.”

The unfinished property went on the market but it was removed from an estate agent’s site with talk of their being a “serious buyer” – but they pulled out just before the contracts were signed.

Omaze refuse deal

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Edward hoped to complete in 18 months, but development issues meant the build lasted 12 yearsCredit: SWNS

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The former music producer is now engaged to new love Jalia NambasaCredit: Neil Hope

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Edward says his ex-wife has been very supportive and they remain friendsCredit: Channel 4

Edward reveals he even had talks with house raffle site Omaze, but the price tag was too hefty for them.

The five bedroom, glass fronted home, is now up for sale through Law of Property Act receivers, which indicated the sale is part of debts being resettled.

The listing says: "Savills are appointed on the instructions of Joint Receivers: H.Varsani & M.Yianni (Belleveue Mortlakes Chartered Surveyors & LPA Receivers)."

According to Rightmove, the new asking price of £5.25m offers a potential buyer a “once in a lifetime opportunity” to take on and complete one of the UK’s "most spectacularly situated coastal homes".

There’s no doubt what I put Hazel through was horrendous. There’s a lot of guilt about that

Edward Short

Nic Chbat, director of Match Property estate agents in North Devon, who previously assisted with finding a buyer last year, tells the Sun: “I think completing a fit out and resolving the issue of the left side driveway would be very beneficial and remove many of the obstacles to purchasing that buyers may have.

“I would suggest that an asking price of £10M would be more than realistic and achievable, if this were the case.”

He adds that there are potential buyers already looking at the house.

“We do have a couple of credible buyers currently, one of which has viewed the property several times and had meetings with the architects prior to the end of last year.

“They are still actively in discussions about it as recently as this morning.”

'I'm still a winner'

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Edward and Hazel's marriage collapsed due to the strainCredit: Grand Designs/Channel 4

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Omaze turned down the chance to list the propertyCredit: Knight Frank

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Edward is determined to not lose too much money on the homeCredit: Neil Hope

Planning to walk down the aisle with Jalia this year, but still waiting on his divorce from Hazel, Edward says he still feels like a winner, despite his financial woes.

“I've moved on with my life and there are highs and lows,” he says. “But there’s chasing money and there's chasing love and, personally, I think love's harder to find.

“So, for me, finding love has been of a huge value.

“Jalia is a great support but she will be happiest when this is done, the house is sold and we can draw a line under it and move on.

“Hazel is still a really good friend and she's been brilliant and stood by me so I couldn't have more praise for my ex-wife.

“This has been very difficult for the family and that’s something I feel terrible about, but we all have our health and we are all fighters so we get on with our lives.”

Jalia is a great support but she will be happiest when this is done, the house is sold and we can draw a line under it and move on

Edward Short

Still hoping to pay back as much of his ever-mounting debt as he can, Edward is characteristically philosophical about the uncertain future of his dream house, but says selling it at too low a price “goes against what I believe is my opportunity to pay back the most I can”.

But if the receivers do a deal that leaves him still millions in debt, he says he will cope.

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“If you haven’t got the money you can’t pay it back,” he says. “But the security on the debt was the property.

“This is such an ongoing saga and I really don't have any idea how this is going to turn out. But I've got used to that.”

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Edward hopes to pay back as much of his ever-mounting debt as he canCredit: SWNS

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Edward is characteristically philosophical about the uncertain future of his dream houseCredit: Neil Hope