Star’s property company has over £2.5m worth of assets but posts losses of £10k.

Mark Wright’s property company has posted over £10,000 in losses for the year despite having £2.5 million worth of assets.

One of the big reasons for the financial hole is because the reality-star-turned-TV-presenter, 31, borrowed £800,000 from his wife Michelle Keegan, also 31, to fund his housing empire.

According to its latest set of accounts submitted to Companies House, the former TOWIE star's firm Chigwell Properties Ltd had assets of £2,656,618 up to November 2017. But it owed creditors £2,667,263, meaning an overall loss of £10,645.

It’s not the only hiccup for the Extra! presenter, as the properties he owns are failing to sell. He purchased a seven-bedroom house in Chigwell, Essex, three years ago for £1,095,000, which he renovated and turned into four terraces.

In January, one of the properties was initially on the market for £1,295,000 by John Thoma Bespoke Estate Agency in Chigwell. Despite being reduced by £100,000, there’s still been no buyer. 

Mark was expecting to make a substantial profit if all four properties were sold for the same price, as it would net him over £5 million, which is five times the original purchase price.

But his plan has dramatically stalled as the Greater London housing market is in the midst of a slump.

It still remains a mystery why he’s had to keep borrowing money from his wife Michelle.

Back in May, The Our Girl actress lent £800,000 to his housing firm Chigwell Properties Ltd in a ‘mortgage charge’ that was entered at Companies House.

This isn’t the first time that Mark borrowed from his former Corrie star spouse. On 24 September 2015, Chigwell Properties Ltd borrowed £707,595 from Michelle, which was paid in full four months later.

MailOnline