diff --git a/code/core/src/manager-api/modules/url.ts b/code/core/src/manager-api/modules/url.ts
index 67b94017b0bf..ff5f5efc3031 100644
--- a/code/core/src/manager-api/modules/url.ts
+++ b/code/core/src/manager-api/modules/url.ts
@@ -261,7 +261,21 @@ export const init: ModuleFn<SubAPI, SubState> = (moduleArgs) => {
         : global.PREVIEW_URL ||
           `${managerBase.replace(/\/[^/]*\.html$/, '').replace(/\/?$/, '/')}iframe.html`;
 
-      const refParam = refId ? `&refId=${encodeURIComponent(refId)}` : '';
+      const isAbsolutePreviewUrl = /^[a-zA-Z][a-zA-Z\d+\-.]*:/.test(previewBase);
+      const resolvedPreviewHref = isAbsolutePreviewUrl
+        ? previewBase
+        : new URL(previewBase, global.window.location.href).href;
+      const previewUrlObject = new URL(resolvedPreviewHref);
+      previewUrlObject.searchParams.set('id', storyId);
+      previewUrlObject.searchParams.set('viewMode', viewMode);
+      if (refId) {
+        previewUrlObject.searchParams.set('refId', refId);
+      }
+
+      const previewPathQuery = `${previewUrlObject.pathname}${previewUrlObject.search}`;
+      const previewHash = previewUrlObject.hash;
+      const previewHrefPrefix = isAbsolutePreviewUrl ? previewUrlObject.origin : '';
+
       const { args = '', globals = '', ...otherParams } = queryParams;
       let argsParam = inheritArgs
         ? mergeSerializedParams(customQueryParams?.args ?? '', args)
@@ -283,9 +297,11 @@ export const init: ModuleFn<SubAPI, SubState> = (moduleArgs) => {
       customManagerParams = customManagerParams && `&${customManagerParams}`;
       customPreviewParams = customPreviewParams && `&${customPreviewParams}`;
 
+      const previewSuffix = `${argsParam}${refId ? '' : globalsParam}${customPreviewParams}`;
+
       return {
         managerHref: `${managerBase}?path=/${viewMode}/${refId ? `${refId}_` : ''}${storyId}${argsParam}${globalsParam}${customManagerParams}`,
-        previewHref: `${previewBase}?id=${storyId}&viewMode=${viewMode}${refParam}${argsParam}${refId ? '' : globalsParam}${customPreviewParams}`,
+        previewHref: `${previewHrefPrefix}${previewPathQuery}${previewSuffix}${previewHash}`,
       };
     },
     getQueryParam(key) {
diff --git a/code/core/src/manager-api/tests/url.test.js b/code/core/src/manager-api/tests/url.test.js
index 30485a43c7a6..234b6dce20ef 100644
--- a/code/core/src/manager-api/tests/url.test.js
+++ b/code/core/src/manager-api/tests/url.test.js
@@ -504,6 +504,26 @@ describe('getStoryHrefs', () => {
     delete global.PREVIEW_URL;
   });
 
+  it('supports PREVIEW_URL override when the URL already has query parameters', () => {
+    global.PREVIEW_URL = 'http://localhost:6007/?custom=true';
+    const { api, state } = initURL({
+      store,
+      provider: { channel: new EventEmitter() },
+      state: { location: { pathname: '/', search: '' } },
+      navigate: vi.fn(),
+      fullAPI: { getCurrentStoryData: () => ({ id: 'test--story' }) },
+    });
+    store.setState(state);
+
+    const { previewHref } = api.getStoryHrefs('test--story');
+    const parsed = new URL(previewHref);
+    expect(parsed.searchParams.get('custom')).toBe('true');
+    expect(parsed.searchParams.get('id')).toBe('test--story');
+    expect(parsed.searchParams.get('viewMode')).toBe('story');
+    expect(/\?[^\s#]*\?/.test(previewHref)).toBe(false);
+    delete global.PREVIEW_URL;
+  });
+
   it('correctly links from /index.html', () => {
     const { api, state } = initURL({
       store,