Got it sorted by the BMW recovery/rescue guy. There was a loose clip on some "plumbing" as Mad said. May well have been an intercooler pipe. He reckoned it wasn't fitted properly in the factory. He assured me no damage was done and when we took it for a test run it was back to normal torquey acceleration without the hissing. I'm simmering down now and am grateful it was nothing more complicated or damaging.
Cheers guys
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