PROPERTY investors have been given a few extra months to save up the £2 million needed to buy the long-lease of one of Brighton’s grandest properties.

Stanmer House was briefly put on the market this week as millionaire property mogul Mike Holland announced his intentions to sell his ownership of the 18th century manor house.

But the property, owned by Brighton and Hove City Council, is set to be taken off the market again in the upcoming days while the sale of other properties on the estate are resolved.

The 'for sale' signs are set to go up again early in the new year as a new head leaseholder for the building is sought.

The Brighton-born businessman said the sale was part of his “retirement” from major property investment after a career stretching over half a century.

He sold his lease on the former Astoria cinema in 2014 for £5.5 million though he still owns The Engineerium in Hove and recently became a board member of local radio station Juice 107.2 FM.

Mr Holland described the stately home as “simply an investment” now that responsibility for the everyday running of the house had changed hands – first to pub company Whiting and Hammond and then in June to the Proud Group whose Brighton-raised CEO Alex Proud revealed plans for a silver service restaurant and boutique hotel.

His time overseeing the restoration was touched with tragedy in 2014 when builder David Clark suffered a fatal 20 foot fall.

Mr Holland and his foreman Grant Oakes, will answer to manslaughter charges in the new year over the death, while the businessman faces four additional health and safety offences.

The pair both deny the charges.

Mr Holland said he took satisfaction from saving the house in 2009 ahead of a rival bidder who planned to convert it into luxury flats.

The businessman, who appeared on Secret Millionaire in 2011, is keeping his future plans close to his chest telling The Argus he the last thing he would do in business would declare his intentions for his next business move before carrying it out.

Mr Holland said: “I always said I would retire from this type of investment when I am 70.

“Well I am 69 so I guess now is the time.

“We had a lot of enjoyment and derived a lot of satisfaction from restoring it and of course receiving two English Heritage awards.

“In the subsequent six years we ran the house as a wedding and function venue we had some experiences that will certainly stay with me for the rest of my life.

“We had our time there and now someone else is making their mark.”