Anyone heard od ''Century Land group''?

tabskitten

Hello All
A friend asked me about this as he is interested in investing but unsure.......I am no expert so thought I would ask some of you.....

Thing is they are asking 10% deposit NOW before anything is even in motion on the development I think. This makes me wary for him.....

Here is the email he fwd to me:

Dear Mr !!!!
>
> As requested enclosed are the details of our new site at Hollinsfield,
> Burnley,Lancashire.
>
> Key Site Facts
>
> * Burnley has a recognised housing shortage.
> * £300 million is being pumped into building new housing in Burnley.
> * The site has the benefit of direct road front access.
> * The site is perfectly located for future development.
> * Located just 1 mile from the town centre.
> * The site is immediately adjoining existing developments.
> * Houses recently sold along the same road have achieved values of
> £175,000 plus.
> (source-HM Land Registry).
> * Very high potential from a £14,000+ investment.
> * Burnley is to receive the largest allocation of the area's Housing
> Market Renewal scheme
> * East Lancashire is set for a "Housing Explosion".
> * It has emerged their is to be no limit on new developments in
> Burnley.
>
> Whether you are just beginning to build a land portfolio, or you are
> continuing to diversify your existing portfolio, we believe there has never
> been a better time to strategically invest in land.
>
> I will be in contact within the next few days to discuss these details in
> greater depth. Should you require any further information prior to my call,
> please feel free to contact me on the details below.
>
>
>
> Yours Sincerely
>
>
>
>
> Jonathon Wilson
>

> [EMAIL="Jonathon.Wilson@centurylandgroup.co.uk"]Jonathon.Wilson@centurylandgroup.co.uk[/EMAIL]
>
>
>
>
> Reference:CLG
>

tyllwyd

If you google 'land banking', you will see that this has a very bad reputation. He should not go into this unless this is money that he can afford to lose.

tabskitten

Thanks will have a look........

maninthestreet

" It has emerged their is to be no limit on new developments in Burnley."

Really? Where did they get that from??

tabskitten

sounds a bit up in the air doesn't it.......

GDB2222

The land bankers tend to work as follows:

1. Buy a field, any field. Price around £2000 an acre.

2. Draw a fancy plan with roads etc, then do some marketing bigging up the chance of it getting planning permission. (Come on, if that was likely they wouldn't have got it for £2k an acre now, would they?)

3. Find mugs and sell 10-20 plots per acre, each at say £15k.

4. So, that's land bought for £2k an acre and sold to mugs for £150k-£300k an acre. Nice business to be in, provided you can sleep okay at night.

maninthestreet

CLG aren't the only bunch of landbankers with an interest in Hollinsfield - use google to seach for 'Burnley Hollinsfield' and look at the PDF in the first web page found.

lewisa

"Burnley has a recognised housing shortage"

As a recent ex-resident it doesnt look it has a shortage to me.


What they really mean is...

"Burnley's unemployment problem is so severe there is a shortage of social housing"


or...

"Burnley is full of delapidated boarded up houses so we are going to build new ones instead of renovating the existing perfectly acceptable housing"

ILW

tupacino wrote: »

I also received a call from this company and I liked what I heard!

This prompted me to liquidate pretty much everything I could, including re-mortgaging our home, to purchase as many plots as I could afford, as I think this is a great investment.

How could it not be when the salesman told me I could conservatively expect a return of 900% by xmas!

I would SERIOUSLY consider doing the same so you don't miss out!
I was told the plots are nearly all gone so act NOW!

All the best!
:xmassmile = _party_

Ii they sell out, could I buy a couple of plots from you please?

Out,_Vile_Jelly

How many people in Burnley can afford a £175k house?

tabskitten

Now am even more confuddled!!