If memory serves me right, this is the Qasar II, which was designed and built by Malcolm Newell who built the Qasar feet first motorcycle
http://hellforleathermagazine.com/20...o-the-fut.html
It was built as a one off project for Superbike mag back in the 80's. I think it originally had a GSX750 engine. It was years ahead of it's time, but as you say it ain't too pretty.
The main purpose was to make it go round corners reel good, something that a lot of 80's bikes didn't do very well, which it did because it had hub centre steering, which doesn't dive like conventional forks, so the steering geometry stays the same, which was seenas a good thing then.
But no one was going to get on with those bars!
History lesson over!