HE has a personal fortune of at least £150m and a host of celebrity neighbours who share his glitzy lifestyle.

But business tycoon Jim Ratcliffe is today at the centre of a storm after unveiling plans for a luxury mansion on an unspoilt stretch of Hampshire coastline.

The 58-year-old former billionaire aims to build a five-bedroom property complete with sauna, boathouse and staff quarters.

The multi-million-pound scheme, which includes a giant mast overlooking the Solent, has been designed by a leading architect who once worked for Prince Charles.

Mr Ratcliffe founded the INEOS chemical company, which recently moved its headquarters from Hampshire to Switzerland.

The highly successful entrepreneur owns a large piece of land at Thorns Beach, near the entrance to the Beaulieu River. His neighbours include Dire Straits musicians Mark Knopfler and John Illsley, and Lord Montagu of Beaulieu who has a beach house in the area.

Mr Ratcliffe wants to bulldoze a bungalow on the site and replace it with what he describes as a “next-generation” country house.

But the scheme has angered the New Forest Association, one of 34 objectors who are urging the National Park Authority to reject the application.

Peter Roberts, chairman of the association’s planning committee, said: “This proposal is an intrusion in an unspoilt and protected area. Most of the north Solent shoreline is designated as a Special Protection Area and/or Special Area of Conservation.

“Our role in the association is to protect and preserve all that is good and unique in the New Forest, securing it for future generations. This development is a serious threat to the coastal area and sets a dangerous precedent, which could lead to more development in the future.”

Beaulieu Parish Council and the Solent Protection Society (SPS) have also objected. SPS chairman Jeremy Clark said: “The site is a beautiful part of coastline in a national park. We consider that the house, as seen from the Solent, will be unacceptably intrusive.”

However, a design statement accompanying the planning application says the property would have only a “minimal” impact on the area.

“It will provide a high quality and architecturally stimulating development – a true next-generation country house,” adds the statement.

Mr Ratcliffe was once the tenth richest man in the UK but has seen his personal fortune plummet from about £3.3 billion to £150m in the recession.