A £30 million property which could become one of the island’s most expensive homes, will only be built once a buyer has been found.
That is the message from Richmond Square Group, the developer behind the spectacular Ballamona mansion close to Port Soderick.
Lisa Sheridan, group director, told the Financial Times that doing it that way ‘the buyer can decide on the final design and put his own stamp on it.’
Billed as ‘the ultimate destination for a country retreat’, when completed it will rank as one of the most prestigious new homes to be built outside of London and the Home Counties.
A company spokesman told Isle of Man Newspapers: ‘ ‘Our team has designed a legacy home that highlights and exploits the site’s potential.
‘Our proposal was deliberately expansive, working on the basis that every conceivable facility for a modern estate should be included, but allow for adaptability to suit the purchaser’s personal requirements.
The Financial Times reported at the weekend how the island wants to lure a new wave of buyers here.
It says prices of homes in the island have fallen and produces a graph that purportedly shows the island’s house prices have fallen to a greater extent than England and Wales since 2010.
Generally prices have gone down by about 15 to 20 per cent between 2010 and 2013.
Mark Canty of estate agent Cowley Groves is quoted by the FT as saying that as a result ‘you can get a lot of property for your money in the £1m to £2m price band.’
Nick Preskey, tasked with managing the Isle of Man Government’s High Net Worth Individuals strategy, confirms the island wants to attract a new wave of entrepreneurs to diversify the economy.
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