Ant and Dec stand to lose almost £2.5million each after investing in new properties at The Keys, a planned complex in Portugal's scenic Algarve. Despite paying for their holiday homes at the exclusive new resort way back in 2015, the site has since fallen into disrepair after the owners went bust. New photos show the now-abandoned properties in Quinta do Lago having been half-finished, including incomplete luxury villas and empty swimming pools.
The pair invested £2.5million each
Ant and Dec are not the only stars to have been affected by the investment, as Phillip Schofield also paid £1.5million for a holiday villa at the resort. The villas were expected to be complete with private bars, cinema rooms, a butler's kitchen and rooftop pools before the firm went into administration in 2017 after owing £250million to the Portuguese state-owned bank, Caixa Geral de Depositos. The developers, Birchview Imobiliaria, have since claimed that the bank was wrong after it pulled its support.
Phillip also invested in a villa
According to reports, the Britain's Got Talent duo now have their lawyers involved to win back some of their investment. A source previously told MailOnline: "It's been a nightmare for them. On top of all that Ant has gone through in the past 12 months, what with splitting up with Lisa and the drink-driving case, he has had this to contend with. It's devastating for both stars to maybe lose their villas in such a special place – it was meant to be a perfect bolthole for them."
The villas have now been abandoned
The insider added: "The developers went bankrupt in December two years ago but it's really starting to hit home now that they've had to move everything out. They're totally gutted."