Small investors who poured millions into Kevin McCloud's eco-friendly housing ventures face losing up to 97% of their money, it has emerged. The Grand Designs presenter's property empire has been hit by delays, debts and 'systemic faults'.
Those who put £2.4m into a 2017 'minibond' scheme have been told they may receive as little as 3p for every £1 invested in a worst-case scenario. Even in a best-case, they face a 74% loss. The company behind the bond, HAB Land, has proposed restructuring that would see no returns until at least 2024.
Separately, 650 investors who crowdfunded £1.9m in 2013 have received no dividends and feel 'angry and betrayed'. They were promised returns of at least 5% by 2016 but have not seen a penny.
McCloud said he 'stands shoulder to shoulder' with those who lost money and will do everything to improve the situation. He personally apologised for delays at a flagship scheme in Hampshire. The restructuring company has demanded repayment from McCloud himself.
