Noel Edmonds sues friend over £500,000 property loss

Noel Edmonds is suing a former friend and business associate over an unsuccessful property deal.

The venture between the Deal or No Deal host and builder Ulrik Lawson has reportedly left Edmonds with a loss of around £500,000.

Edmonds has claimed that he invested a total of £572,000 into buying and renovating a Devon mansion. However, planning permission was not granted, with Edmonds only receiving £52,000 when it was sold two years later. Lawson received a total of £300,000, reports The Daily Telegraph.

The presenter said that he felt "betrayed" by Lawson's actions, as he was allegedly promised the full total of invested money back.

Lawson's lawyers have argued that Edmonds knowingly signed legal documents stating otherwise and that he has "made up" his side of the story. Lawson has filed a £260,000 counter-claim for unpaid renovation work on a separate home.

Edmonds said: "I believed in my friend. It never occurred to me for a minute that I could be the subject of a betrayal.

"Ulrik and I were incredibly close friends and the trust between us was tangible. He said I will give you your money back first and I will take the hit. It was nothing but a financial disaster for me."

The pair met in 2002, with Lawson supporting the presenter after his divorce from second wife Helen Soby in 2004.

Noel Edmonds will film two weeks of live episodes of Deal or No Deal at the end of October to celebrate its sixth birthday.