IT’S been a saga that’s been going on for 14 years, but the star of the “saddest ever” episode of Grand Designs isn’t ready to give up just yet – despite listeners moving on.
Building Edward Short’s dream home on the North Devon coast cost him his marriage and more than £6m in rising costs – and, after failing to find a buyer, his creditors called in receivers to put Chesil Cliff House on the market at a reduced price. 5.25 m.
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Edward Short’s dream home has been called ‘the saddest large design ever’ Credit: Neil Hope
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The project cost him his marriage and more than £6 million in spiraling costs Credit: SWNS
Now Edward, 55, who has been left with debts of more than £7m, tells The Sun he plans to borrow ANOTHER £2m.
The money will go towards the final addition of fixtures and fittings to the five-bedroom castle and the re-engineering of the cliff-top driveway – which leads to another smaller property on the plot.
As it stands, the imposing coastal villa, designed to resemble a lighthouse with its own circular ‘storm room’ and stunning sea views, still needs a kitchen and bathrooms, as Edward plans to let the buyer put their own stamp on the interior.
The driveway also has some potentially catastrophic cracks.
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But he is now hoping that a further £2m cash injection, which he has already agreed with the lender, will mean he can add the finishing touches to the interior.
“It has been passed to the receivers, but that means you lose control over how it is sold, and if they sell at the £5.25m listed price, I will lose an awful lot of money,” he says.
He adds that he is “in a negotiation triangle” with a potential lender and receivers to regain control.
If he carries out the necessary works, he anticipates putting the property back on the market for £10m.
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The house needs fixtures and fittings and structural work to the driveway – which Edward wants to borrow a further £2m to sort out Credit: Knight Frank
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The project dragged on for 14 years Credits: SWNS
“I’m still trying to avoid a complete disaster for us as a family and the current situation would end up being just that,” he says.
“And I believe that doing something about the problems would leave me in a position to get the most money back, and that’s the bottom line.”
Although the price is high, Edward points out that a house on the same stretch of coast recently sold for £8.5m – and he has been told the new owner plans to knock it down and rebuild.
Spiral costs
Edward began work on the stunning seaside villa 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 £1.8 million, Edward had hoped to finish in 18 months, but development problems meant construction took 12 years and costs spiraled out of control.
As stress and debt mounted, the couple drifted apart, although they always remained best friends.
I’m still trying to avoid a complete disaster for us as a family and the current situation would end up being just that
Edward Short
The former music producer – who is now engaged to new love Jali Nambas – previously told The Sun he felt guilty about the cost of the project to his family.
“There’s no question that what I put Hazel through was horrible,” he said.
“There’s a lot of guilt about it. But when we started, there was no way out. If we hadn’t finished, we would have been in big trouble.”
The unfinished property was put on the market but was removed from the estate agent’s site saying they were a “serious buyer” – but they pulled out just before contracts were signed.
Omaze refuses the deal
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Edward had hoped to finish in 18 months, but development problems meant construction took 12 yearsCredit: SWNS
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The former music producer is now engaged to new love Jali Nambas Credit: Neil Hope
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Edward says his ex-wife has been very supportive and they remain friends Credit: Channel 4
Edward reveals that he even talked to the Omaze home sweepstakes site, but the price was too high for them.
The five-bedroom, glass-fronted house is now for sale through Property Act receivers, who have indicated the sale is part of debts being repaid.
The listing says: “Savills are appointed under the direction of Joint Receivers: H.Varsani & M.Yianni (Bellevue Mortlakes Chartered Surveyors & LPA Receivers).”
According to Rightmove, the new asking price of £5.25 million offers a potential buyer a “once-in-a-lifetime opportunity” to acquire and complete one of the UK’s “most spectacular coastal houses”.
There is no doubt that what I put Hazel through was horrible. There is a lot of guilt involved
Edward Short
Nic Chbat, director of North Devon estate agents Match Property, who previously helped find a buyer last year, told the Sun: “I think completing the fit-out and solving the left-hand drive issue would be very beneficial and remove a lot of the barriers to buying that buyers can have.
“I would say that an asking price of £10m would be more than realistic and achievable, if that was the case.”
He adds that there are potential buyers who are already looking at the house.
“Currently, we have several credible buyers, one of whom viewed the property several times and had meetings with architects before the end of last year.
“They are still actively discussing it as of this morning.”
‘I’m still a winner’
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Edward and Hazel’s marriage collapses due to tension Credit: Grand Designs/Channel 4
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Omaze declined the opportunity to list the property Credit: Knight Frank
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Edward is determined not to lose too much money on the houseCredit: Neil Hope
Planning to walk down the aisle with Jalia this year, but still waiting for his divorce from Hazel, Edward says he still feels like a winner, despite his financial problems.
“I’ve moved on with my life and there are ups and downs,” he says. “But there is the chase for money and the chase for love and, personally, I think love is harder to find.
“So for me, finding love was of great value.
“Jalia is very supportive, but she will be happiest when this is over, the house is sold and we can draw a line under that 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 it makes me feel terrible, but we all have our health and we are all fighters so we get on with our lives.”
Žalija is very supportive, but she will be happiest when this is over, the house is sold and we can draw a line under that and move on.
Edward Short
Still hoping to pay back as much of his ever-growing debt as possible, Edward is characteristically philosophical about the uncertain future of his dream home, but says the underpriced sale is “at what I believe is my opportunity to pay back the most what can I do”.
But if the trustees close a deal that leaves him with millions in debt, he says he’ll manage.
“If you don’t have the money, you can’t get it back,” he says. “But securing the debt was an asset.
“This is an ongoing saga and I really have no idea how this is going to turn out. But I’m used to it.”
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Edward hopes to pay back as much of his ever-growing debts as possible Credit: SWNS
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Edward is characteristically philosophical about the uncertain future of his dream house Credit: Neil Hope
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