Former Premier League footballer Ashley Ward and his wife Dawn, who together run Bilton Ward Developments – building Cheshire palaces for celebrities and footballers – are not just struggling with debts of £1.3 million and lots of disgruntled creditors.

They are also stuck with a partially built mansion in Marbella, which they can no longer afford to complete, and for which they are struggling to find a Spanish bank to help them refinance.

The unfinished six-bedroom villa, set on one of the highest plots at the Marbella Club Resort with views across the Mediterranean, has been on the market with Cluttons for £5.4million for more than a year.

The couple were forced to enter their firm into a Company Voluntary Agreement, an insolvency procedure for financially troubled businesses, earlier this month.

They intended to live in the Spanish property when they bought the plot seven years ago and began the lavish build. But now they have four children, the idea became impractical and they decided to sell.

The Wards’ financial director said that they are working on putting their own cash into the UK business, and will instruct a Spanish agent to reduce the asking price of their Marbella house.