The Grand design company has yet to deliver on promises while investors face up to 97% losses

Locals claim the flagship development, built by TV property guru Kevin McCloud, which was due to be completed in 2018, resembles a “bomb,” with unfinished roads and pavements and homeowners having to contend with construction conditions.

However, local councillor Jackie porter said the site, where many of the properties were sold for more than £ 1m, was in “terrible condition.” She added that some of the roads “do not have asphalt on” while a number of homes had “major problems” that needed to be fixed. Some of them are still covered with scaffolding.

Porter added that many of the benefits HAB promised the community, including a pool, garden, bike path and two electric cars with charging points, have yet to be delivered.

“There’s a construction site where the garden and allotments should be,” said porter, a County and city Councilman who lives less than two miles from the site. She added that she did not want the “public purse” to have to pay for THE ” HAB mess.”

HAB did not deny there were problems, but added that it was carrying out work on homes and providing frequent progress updates.

Claims relating to the development at Kings Worthy, near Winchester in Hampshire, have dealt a fresh blow to the Channel 4 presenter, whose property Empire has suffered financial problems.

The Guardian revealed last month that small investors who have sunk millions of pounds into McCloud eco-friendly housing businesses have been told they could face losses of up to 97% of their money.

The worst hit are nearly 300 small investors who invested 2.4 million euros in the “mini-bond” scheme proposed by HAB Land in early 2017. Another set of investors, who plunged 1.9 million euros into HAB Housing in 2013 and were told to expect a dividend of at least 5% by the end of 2016, said they had not received a penny and were “discarded.”

On September 10, it emerged that attempts to restructure HAB Land’s bonds had failed, despite investors being effectively warned that if they did not let down these offers, HAB Land risked being liquidated or falling into insolvency. The company’s Directors said they were considering their “next steps.”

McCloud created HAB housing – “HAB” stands for “Happiness Architecture Beauty” – in 2007, followed BY HAB land in 2014.

Lovedon Fields is a 50-home development with prices initially starting at £ 467,500. It received a construction permit in 2015 and, according to porter, was originally scheduled to be completed in 2017, although it was later moved to the following year.

It is understood that the first residents moved to the facility in mid-2017. But in March 2019, following a newspaper article highlighting problems with the development, McCloud admitted that residents had received “poor service,” adding: “I am personally very sorry for the delays and problems caused… and I’m putting a plan in place to fix them.”

More than six months later, locals claim there are still a catalogue of problems to deal with. A nearby resident said: “the Financial scandal for bondholders is only one half of the story-the other more human and terrible: poor homeowners left with completely unfinished roads / site / amenities.”

He added that the biggest concern is that locals may be left with “a heritage explosion site to look at, not to mention all the snagging / repairs that need to be done on the homes themselves.”

Porter visited the site on September 14 and took a series of photos. She said several homes had serious problems, adding: “we know we have water running into some of them and a stove connected to the wrong circuit.” Her photos show several properties covered in scaffolding. She added that “the sides of the road are crumbling” and some roads have not been completed.

“It’s very disappointing and could cost the community a lot to put the terrible state of the site on the rights, but I decided it shouldn’t be a public expense,” porter added.

In a statement, a spokesman for HAB Land said: “with regard to our Lovedon Field development, it is clear we have been prioritising works on the homes of our homebuyers, which we have been diligently carrying out. Throughout this process, we are in constant dialogue with our home buyers, parish and city councils, and other stakeholders, with frequent updates on progress and planned activities.”

The spokesman added that Directors continue to explore and evaluate all options after the vote handed down to bondholders does not pass.