Why won't Roger Moore's old house sell?

Roger Moore's former home went up for sale in March this year. However, just two months later, the sellers were forced to slash the asking price from £2 million to £1,750,000. It remains on the market.

The property has plenty of attractions. It is a six-bedroom 1930s home, backing directly onto the beach in East Preston, Littlehampton. It features a sweeping carriage driveway, oak-panelled staircase, drawing room, family room, dining room and kitchen/breakfast room.

The six bedrooms and four bathrooms are on the first floor - many with views of the sea and balconies. To add to its attractions is the fact that the estate agent claims that it was "once believed to belong to the James Bond and The Saint actor Roger Moore."

So why hasn't it sold?
One problem could be the initial price. By placing it on the stamp duty threshold when the 7% tax rate kicks in, there will have been some buyers who may have been put off without taking a closer look.

Then there's the fact that this property has been owned by the same people for the last 30 years, which has two impacts. The first is that some of the decor is fairly dated. The period features are unspoiled, but to take them in you have to look past some floral curtains, bright orange kitchen tiles, the brick-effect kitchen island and the ageing blue carpet and wallpaper in the bedroom.

The second effect of the property not having sold for 30 years makes pricing it difficult: it's hard to value a property like this without a recent benchmark.

Then there's the local competition. There are a large number of beautiful homes overlooking the sea in the area for between £1 million and £3 million. For £1.5 million there's a six-bedroom colonial-style property with plenty of space, sea views, and bags of potential for someone prepared to update the decor a little. And for the same price as Roger Moore's old pad, there's a detached 4-bedroom property with updated decor and a garden designed by a Chelsea Flower Show gold award winner.

Finally there's the connection to Roger Moore. It adds a little stardust, which could help persuade people to view the property above other local gems. However, the connection to Moore is rather faint.

Moore has famously lived all over the place In the UK, including Tunbridge Wells in Kent, Surrey, Mill Hill in London and most notably in Denham in Buckinghamshire. His Denham home went on the market last year for £4.5 million and garnered plenty of publicity. By contrast there is little mention anywhere of him ever having lived in this property.

Nowadays Moore is more famous for his overseas homes in Switzerland and the tax haven of Monaco - where doubtless he'd have no trouble getting the asking price if he decided to sell up.

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